IFC Asset Management Company, LLC (AMC) is the fund management arm of International Finance Corporation (IFC). AMC was established in 2009 as a wholly-owned subsidiary of IFC, to mobilize and manage third-party capital for investment in private enterprise in developing and frontier markets. It aims to enhance IFC’s development impact and financial sustainability, as well as generating profits for investors. AMC–managed funds are targeted at large sophisticated investors who are looking to increase their exposure to emerging markets and who are interested in accessing IFC’s transaction pipeline, investment approach and standards, global reach and track record of superior returns. AMC currently has more than billion under management in the following funds:
•IFC African, Latin American and Caribbean Fund, which invests in equity and equity-related transactions in Africa, Latin America and the Caribbean across a broad range of sectors
•IFC Capitalization Fund, which invests in the equity and subordinated debt of large domestic commercial banks in developing countries
•Africa Capitalization Fund, which makes equity or equity-related investments in commercial banks in North and Sub-Saharan Africa
•Russian Bank Capitalization Fund, which makes equity or quasi-equity investments in commercial banks in Russia
•IFC Catalyst Fund, which makes investments in private equity funds managed by third parties and makes direct co-investments in certain cases
•IFC Global Infrastructure Fund which makes equity and equity-related investments in infrastructure projects in developing countries
In addition, AMC is planning to raise and manage additional funds in the future, each with a focus on a particular sector, region or product.
The IFC Asia Fund will invest in equity and equity-related transactions across Asia with strong sectoral diversification.
IFC’s investment departments support AMC by providing origination, execution and supervision services, but all investment and portfolio decisions for funds under management are taken independently by AMC.
Duties and Accountabilities
AMC is looking to hire a seasoned investment professional with a strong track-record and leadership skills to be Head of the IFC Asia Fund. The Fund Head will be the most senior investment professional dedicated to the Fund and will report directly to Gavin Wilson, CEO of AMC. The Fund Head will be responsible for: (i) recruiting, motivating and leading a high quality Fund team; (ii) leading the fund-raising process and establishment of the fund; (iii) building and managing a well-balanced investment portfolio, including successfully realizing investments with strong risk-adjusted returns; and (iv) maintaining good relationships with the Fund’s investors, IFC investment teams working with the Fund and other stakeholders.
In particular, the Fund Head will:
•Recruit, manage, motivate and retain a high quality team of investment professionals;
•Lead the marketing of the Fund to potential investors:
•Serve on the Fund’s investment committee;
•Develop and manage a well balanced and successful portfolio of equity and equity-related investments;
•Pro-actively monitor and supervise the portfolio in coordination with IFC portfolio teams, with emphasis on managing key relationships with shareholders and senior management of investee companies, and senior management of co-investors;
•Identify top quality Directors to serve on the boards of investee companies;
•Represent the Fund externally with investors, portfolio companies, media and other constituencies;
•Plan and implement exit strategies for all portfolio holdings, including the negotiation of exit arrangements at the time of investment, and pro-active interventions with other investee company shareholders to ensure that the Fund can exit from its investments on a timely basis;
•Maintain a close working relationship with IFC’s investment departments and manage the implementation of service agreements with IFC;
•Work with AMC’s Chief Operating Officer to implement effective administration of the fund, including management accounting, conflicts management and investor reporting systems;
•Work with AMC’s CEO and senior management to build a successful business with an excellent reputation in the marketplace.
The successful candidate is likely to have worked for a private equity firm or an international financial institution or major bank with significant emerging markets presence including specific experience investing in the Asia region. He/she will have strong knowledge of overall investing trends and a deep understanding of and practical experience in valuation, structuring, portfolio management and business strategy.
The successful candidate will possess: familiarity with international best market practices and global trends in private equity; strong analytical skills and the ability to manage multi-disciplinary teams; experience in structuring private equity investments, including an ability to mitigate risks and enhance returns; and expertise in negotiating complex transactions.
He/she will be able to present a compelling vision and provide strategic direction and leadership to the Fund’s investment activities, including managing and motivating a high quality team of investment professionals.
Other desirable attributes include:
•Strong transaction structuring and negotiation experience, particularly related to minority/growth equity investing;
•Track record of successful investing:
•Ability to innovate, seize opportunities and implement;
•Knowledge of working and processing transactions in an International Financial Institution (IFI) context is a plus;
•Excellent interpersonal and conflict resolution skills;
•Ability to build and maintain strong relationships with clients and counterparts;
•Desire to hold self and others to high standards of integrity;
•Willingness to be accountable and hold others accountable for results;
•Team orientation and desire to get involved in broader AMC activities (e.g. recruiting, fund-raising)
If the selected candidate is a World Bank Group (WBG) staff member, he/she would be able to be seconded to AMC under the WBG External Service Program (Service for a Wholly Owned Subsidiary). Otherwise, the selected candidate will be employed directly by AMC, which is a distinct legal entity to IFC.
To apply for this position, please send your CV and cover letter to AMCRecruit@ifc.org
IFC Asset Management Company, LLC is an equal opportunity employer.