Division: SMART Industries Group
Location: United Kingdom, London
Employment Type: Intern
Salary: £59, 415
Closing Date: 09 December 2022
Summer Intern – Direct Private Equity
Our mission and objectives
- British International Investment is the UK’s development finance institution, owned by the UK Government. We invest with the aim of solving the biggest global development challenges by investing patient, flexible capital to support private sector growth and innovation.
- We have over 70 years of experience successfully supporting the sustainable, long-term growth of businesses in Africa and Asia, and have recently expanded to invest in the Indo-Pacific and Caribbean.
- We invest to achieve impact and a financial return which is then reinvested for more impact. Over the past five years, we have committed almost £7 billion of new investments, with our net assets growing in value to approximately £7.5 billion. We are now invested in 1,200 businesses which directly employ over 900,000 workers and support many more. Over the next five years, we plan to grow further, and aim to commit around £9 billion of new investments over the period.
- Our new five-year strategy responds to the opportunities and challenges facing developing and emerging economies. To ensure our capital is used in the best way possible to meet these opportunities and challenges, it sets out three clear strategic objectives – to invest in productive, sustainable and inclusive development. These objectives mean an increased focus on climate finance, including investing in green infrastructure; on financing digital transformation; and on driving inclusive outcomes, including through gender and diversity finance.
- As part of our new strategy, we have changed our name to British International Investment (from 4 April 2022), to more accurately reflect our central role in the UK Government’s international financing offer.
- In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Myanmar, Nepal, Nigeria, Pakistan and Ghana; with additional locations opening soon.
- We take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract, and mobilise other investors, and drive transformational impact.
- Deliver impact. We are a growing team of over 500 and place immense value on diversity within our organisation.
- Read more about us and the new strategy at bii.co.uk
Making direct equity investments is central to our strategy. Such investments allow us to invest capital in businesses that provide significant employment opportunities and potential for strong growth. The Direct Equity team invests either solely or by co-investing with other institutional investors and local GPs across Africa and South Asia.
The Direct Private Equity team is split into three sub-teams, grouped by sector: Consumer & Industrials; Food & Agriculture; and Construction & Real Estate. There are five levels in each team – Associate, Executive, Manager, Director & Team Leader. However, the team operates in a very flat structure, allowing employees at all levels to get involved in the real detail, and in representational work, both to Investment Committee and externally.
The primary role will be to support the deal teams. This will include assisting with:
- Analysing new investment proposals and deal opportunities, including conducting financial analysis/modelling, valuation exercises, market research, etc.;
- Performing discrete project work around sector mapping to identify potential opportunities and to help develop investment theses; and
- Support post-transaction management of portfolio companies
Specific responsibilities will be driven by priorities and needs of the subsector teams at the time, but are expected to include some or all of the following:
Evaluation of new investment proposals:
- Initial filtering of investment proposals for opportunities that are consistent with BII’s developmental and investment mandate
- Analysing financial information and building financial models
- Assisting with reports to be presented to the Investment Committee for approval and participating in the meetings
- Conducting a detailed valuation of a company using various methods
- Assisting with the due diligence on a specific company, sector, and country
- Undertaking research into regions, countries and specific sectors on an ad-hoc basis. This will include providing support to sector mapping exercises
- Undertaking research into specific businesses or projects including traveling to meet management teams and advisers
- Keeping up to date with market developments and monitoring factors that can affect the markets and considering how these might affect the pipeline and portfolio companies
- Monitoring the financial news and updating the team of material information in the target countries, sector and companies
- Preparing periodic reports and working with the deal teams to help in the monitoring of investees’ financial and strategic performance, including compliance with BII’s Environment, Social and Governance requirements
- University degree or equivalent and currently enrolled in an MBA or equivalent programme covering finance, economics, corporate accounting, or other relevant area of study
- Demonstrable business experience, preferably in private equity, investment banking, equity research, corporate finance, or strategy consulting
- Previous professional experience in Africa and/or South Asia is not a prerequisite but would be an additional advantage
- Demonstration of identity with BII’s proposition including:
- An awareness of and appreciation for BII’s objectives
- A desire and passion to be part of BII’s strategy and participate in its work
- Evidence of high-performance standards in previous positions
- Strong grounding in financial analysis, investment knowledge, and valuation skills, including the ability to work with company financial statements, third-party research reports, and macro/sector datasets
- Ability to efficiently and independently gather and analyse data, draw conclusions, and present ideas with strong written and oral presentation skills
- Strong commercial insight into the challenges and opportunities that businesses face
- Understanding of equity investments and the challenges/issues involved with executing equity transactions, especially in emerging market environments
- Advanced knowledge of Excel and PowerPoint
Our cultural values
We look for team members who aspire, as we do, to work at our best and to be:
- Impact-led, commercially rigorous
- Tenacious in the face of challenges
- Collaborative and caring
British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background.
- Please provide a cover letter with your application, and tell us why you would like to join the Summer Internship at BII, and why you have chosen to apply for this business area / team
- Please apply for one internship only
- Position opened: 24th October 2022
- Position closes: 9th December 2022
- Salary: £59, 415 (pro-rated over 8 or 10 weeks)
Please note BII will pay for flights to London for those studying internationally