Division: Infrastructure and Climate Group

Location: United Kingdom, London

Employment Type: Intern

Salary: £59, 415

Closing Date: 09 December 2022

Summer Intern, Infrastructure & Climate Group – 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

The Role

The primary role will be to support the Infrastructure Equity deal team. This will include assisting with:

• Analysing new investment proposals, including market research, financial analysis and valuations
• Preparing presentation materials for investment committees;
• Performing discrete project work around sector mapping to identify potential investees and to help develop investment theses

The Team

The Infrastructure teams covers key sub-sectors such as power (generation, transmission & distribution), transportation, water and logistics.

Our typical equity investment is $20-200m of growth capital for the expansion of existing companies/platforms or greenfield opportunities in Africa and South Asia.

The Infrastructure Equity team are primarily based in London with a presence in India and currently has a portfolio of 8 investments.  Examples include:

• Globeleq – Africa’s leading developer, owner and operator of power projects with operational capacity in excess of 1GW
• The Africa Power Platform – JV with the Aga Khan Foundation to develop power projects across Africa (especially hydro)
• Ayana –BII’s renewable energy platform in India with +1GW of solar projects under development
• Zephyr – 50MW wind power project in Pakistan, which is currently operational
• Gridworks – BII’s wholly owned platform focusing on Transmission & Distribution projects in Africa
• Ecom Express – an Indian logistics company with an expansive network reaching over 90% of India’s population

Investments are from our balance sheet and, depending on the opportunity, we have the flexibility to take equity stakes. ranging from 1 to 100 per cent.

Responsibilities

Specific responsibilities will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:

Research

• Undertaking research into specific sub-sectors, countries and regions as part of an on-going mapping exercise and/or continuing sector knowledge development
• Based on research conducted, create mapping structures for assessing investment opportunities in the market
• Undertaking research on an ad-hoc basis, as part of the background analysis for specific proposals
• Producing market developments updates across the continent, monitoring factors that could have an impact on pipeline and portfolio companies, using open-source information and specialized publications

Evaluation of new investment proposals

• Initial filtering of investment proposals for fit within BII’s developmental and investment mandate
• Conducting financial analysis and modelling on potential deals
• Building or analysing financial models and conducting sensitivity analysis
• Participating in the due diligence process
• Assisting with preparing investment committee papers and participating in the meetings

Portfolio Monitoring

• Reviewing the financial, operating and development impact performance of investee companies
• Supporting the execution of specific value creation initiatives
• Assisting with the preparation of internal portfolio review papers and analysis of portfolio level performance

The candidate

Background

• University degree or equivalent and currently enrolled in an MBA or equivalent programme
• Demonstrable business experience, preferably in investment banking, consulting or private equity in the infrastructure space
• 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

Technical Skills

• Ability to analyse data, draw conclusions and present ideas strong written and oral presentation skills
• Report writing and advanced knowledge of Excel and financial modelling
• Strong commercial insight into the challenges and issues that businesses face
• Analytical, research and valuation skills, including the ability to analyse company financial statements, sector data, economics and relevant political events
• Understanding of debt and equity investments and the challenges/issues involved with a type of investment
• Understanding of emerging market environments

Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity

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.

Application Process 

• 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: 24^th October 2022
• Position closes: 9^th 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