Our client is a fund in the city of London and they are looking for a portfolio manager for their energy team responsible for managing the funds activity in the reserve power sector, as well as having a broader role in investing in power, utilities and essential facilities opportunities.
The Energy team sources, invests and then manages a wide range of transactions using the various funds across various different energy sectors including Solar, Anaerobic Digestion, Wind and Reserve Power.
The Energy team currently manages c. £2bn of assets, and as this continues to grow rapidly they are looking to expand our portfolio management team accordingly.
This part of the Energy team offers high calibre companies an alternative funding solution to traditional sources of bank debt and equity investment.
It invests from £1m to £300m in businesses that can dominate their chosen markets or sectors.
Reserve power is the provision of small flexible power generation units to the National Grid and other counterparties who call on the power stations in times of peak demand. This sector is becoming a critical sector of the UK energy industry as more intermittent renewable energy is added to the National Grid.
Our client has been investing in this area for more than two years and now has c.250 MW of assets deployed with substantial further investment projected for this year.
- As a result of this increased activity, the reserve power team is now looking for portfolio manager to join the existing reserve power team of four.
- This role will report into the head of the Reserve Power team and will be tasked with managing and monitoring the performance of the 25 investments we aim to have in this sector over the next year. The role will also have significant exposure to new reserve power deals.
- This role is an excellent opportunity for an experienced individual with 5-10 years of experience to join a high growth business in a team
- The successful candidate would be responsible for liaising with the project managers that oversee the construction of the projects (upwards of 10 - 15 in construction presently) and also reviewing the operation of the projects once they are completed.
- This role works very closely with the finance team to review operational and financial performance of the assets on a weekly and monthly basis.
- Further responsibilities include the preparation of materials as part of the internal reporting process as well as performance reviews and commercial strategy analysis with the funds development partner.
- Develop a detailed understanding of the reserve power market as well as the UK electricity market and help drive the commercial strategy of the power plants
- Liaise with the operators of the power plants to monitor performance throughout the life cycle of plants; gathering and managing detailed data for the portfolio companies
- Oversee the construction process of new power plants in collaboration with Project Managers, ensuring they are being built to budget and on time, in a fashion expected when the deal was approved by the Investment Committee
- Support new transactions when required
- Build and maintain complex financial models, reflecting how the power plants operate and sell their power into the national grid
- Support internal fund reporting, including periodic valuation of the portfolio companies
- Oversee the interaction with external parties, mainly HMRC, to ensure investors receive any tax benefits and certificates due to them
- Maintain and enhance the risk monitoring framework in place, designed to identify any issues early and resolve them in a timely fashion
- Develop strong relationships with the operators as well as the wider Energy portfolio management and finance teams as required
- Excellent academic record
- Prior experience at an energy company, or in an investment bank, private equity house, or in a corporate finance team of one of the big 4 accountants, ideally with an energy focus
- A commercial mind-set, able to own operational decision making and understand their impact across the portfolio
- Excellent analytical and Excel financial modelling skills
- Very good knowledge of accounting and financial concepts
- A strong team player with the confidence to exercise judgement appropriately, challenge and liaise with colleagues at all levels of seniority
- A self-starter with high energy levels, initiative and a willingness to commit whatever it takes to deliver the required results
- Exceptional organizational and administration skills
- Some experience of working in a project management environment would be useful
- Portfolio Manager
- Reserve Power