Director of Fund Management

NEC Fund Management · London, Greater London
Department NEC Fund Management
Employment Type Regular Employee (Full-Time)
Minimum Experience Senior Manager/Supervisor

ROLE PROFILE


  • Title: Director – Fund Management
  • Terms: Permanent, Full-time
  • Reporting to: Managing Director – Head of Fund Management/ CIO
  • Location: Central London, W1


THE COMPANY

NextEnergy Capital (NEC) was founded in 2007 to become the leading investment and operating asset manager in the solar sector. Since our inception, we’ve been active in the development, construction and ownership of solar assets. We currently have solar AUM of US$2.9bn, across three investment vehicles. We manage two private equity funds: NextPower II and NextPower III; and a listed investment company - NextEnergy Solar Fund Limited; and we’re preparing several additional products.


NextPower II is a private equity fund investing in operating solar power plants, focused on Italy. Its strategy is to consolidate the substantial, highly fragmented Italian solar market. It has commitments of €232 million, secured from Prudential Assurance Company, a subsidiary of M&G Prudential, a leading institutional investor with more than £360+ billion of assets under management, and including Pantheon, an experienced investor in infrastructure, private equity and real assets with over US$50 billion in AUM. NextPower II currently owns 104 solar plants in Italy comprising c.149MWp and is among the ten largest solar asset owners in Italy.


NextPower III is a private equity fund established to invest in the international solar sector, specifically to fund the construction and long-term ownership of solar power plants. Its target markets comprise mainly OECD and OECD Key Partner countries. It has commitments of c.US$535m, secured at its latest close in September 2021, and a target size of US$750m.


NextEnergy Solar Fund is a listed investment company that invests in operating solar power plants mainly in the UK. It currently owns 893MWp spread among 91 assets in the UK and 8 in Italy (and 1 international private vehicle), comprising a gross asset value of c.£1.06bn. NESF has raised equity proceeds of c.£792m (including £200m preference shares) since its initial public offering on the main market of the London Stock Exchange in April 2014. At present, it is the largest listed solar energy fund on the London Stock Exchange (ticker: NESF.L) and in all of Europe.


In addition, NEC is active in solar operating asset management through WiseEnergy, the leading specialist operating asset manager in the solar sector. Since its founding, WiseEnergy has provided solar asset management, monitoring and technical due diligence services to over 1,300+ utility-scale solar power plants with an installed capacity in excess of 2,200MWp. WiseEnergy’s clients comprise leading debt and equity financiers to the solar sector.


Further information on NEC, WiseEnergy and NESF is available at www.nextenergycapital.com, www.wise-energy.eu and www.nextenergysolarfund.com.


THE ROLE
NextEnergy Capital Limited is an FCA regulated Firm. The NEC Group comprises of an Investment Management and Asset Management division, and this role will work within the Investment Management division. The remit of this position is very wide and covers multiple aspects of Fund Management for our funds: NextEnergy Solar Fund (‘NESF’) - a FTSE 250 company; NextPower II; NextPower III; NextPower UK - a UK subsidy-free fund; a development platform and future funds/ventures.


This is senior management role and acquire a broad depth of knowledge in the solar energy space. This opportunity engages all aspects of Investment Management and Asset Management - it’s a broad finance role with extensive exposure to all outsource providers (including WiseEnergy) for all funds.


You will be responsible for the delivery of work to the [Managing] Director – Head of Fund Management, the CIO & CEO, and also deputise for the [Managing] Director when required. The role will work closely with Administrators, Auditors, Tax advisers, Tax compliance Legal advisers, Compliance and Risk, in-house Accountants and the in-house Technical team, as well as many other external professionals. There will also be exposure to various boards and committees, ownership of several projects, oversight of the funds’ valuation, analysis, assistance in managing the quarterly output, and Board reporting for all funds.


The role will be a certified staff under the FCA’s Senior Managers & Certification Regime. It will suit an individual with extensive experience in fund management, including knowledge of accounting, financial modelling, investor relationships, global taxation, global legal structuring, financial investment analysis, and oversight of third-party administrators.


Duties will include:
• Responsibility of the production of the Annual and Interim Report for NESF
• Responsibility of the production of the quarterly management accounts and annual audited financial statements of the private equity funds
• Responsibility of the outsourced providers (including WiseEnergy – technical and finance).
• Projects including global Fund Structuring and global tax
• Management of quarterly timetable and Third-Party Service Provider deliveries
• Management of the audit process of the Fund
• Management of the Financial Analyst and Senior Accountant.
• Liaising with investors and delivering reports
• Liaising with Board members and possibly becoming a Board member of the offshore Investment Manager
• Involvement with new fund launches from a tax and legal perspective.
• Assisting in establishing new subsidiaries within the Fund structure
• Review of the valuation and scenario analysis of the fund’s models prepared by the business unit.
• Delivery of Quarterly Fund Accounts and Reports, Fact Sheets and Annual / Semi Annual Reporting, Key Investment Documents
• Review of Investment Fund Liquidity Analysis prepared by junior analyst.


ABOUT YOU
The ideal candidate will be/have:
• Solar energy or renewable energy experience
• Degree level academic background (or equivalent)
• Substantial professional experience within Finance/Accounting
• Experienced in Investment Management or Fund Management
• Significant accountancy experience
• Advanced Excel skills with some exposure to financial modelling
• Ability to understand and analyse Financial Statements
• Highly motivated and proactive individual, interested in Investment Funds and Solar Energy
• Fluent in English and have excellent communication skills, including the ability to discuss results from Excel Modelling at Board and senior management level as well as writing qualitative reports
• Ability to manage diverse workflows and ad-hoc projects
• Experience in managing third-party service providers
• Excellent attention to detail and the ability to raise, discuss and actively challenge areas of risk and concern
• Proficient in PowerPoint & Word (ability to prepare presentations and other corporate documents)
• Excellent organisation and time management skills.
• Share our passion and mission of ‘generating a more sustainable future by leading the transition to clean energy’
• Want to live our values of: be a leader, build trust, be responsible, be innovative and bring your alpha • Legal right to work in the UK for the length of this assignment.


BENEFITS

Remuneration and benefits for the role will include:

• Competitive basic salary (depending on experience) plus discretionary annual bonus

• Private medical for the employee and family;

• Pension;

• 30 days’ annual leave, plus public holidays;

• Flexible working arrangements;

• The opportunity to be part of a globally growing company and have a positive impact on the world.


ASSESSMENT INFORMATION
1st Interviews - Director Fund Management
2nd Interviews - People Team
3rd Interview - CIO and CEO
4th Interview - Team members, other Managing Directors and CEO of Wise Energy

Thank You

Your application was submitted successfully.

  • Location
    London, Greater London
  • Department
    NEC Fund Management
  • Employment Type
    Regular Employee (Full-Time)
  • Minimum Experience
    Senior Manager/Supervisor