Real Estate Investment Associate London, England
Intermediate Capital Group
Full Time
London, England
43675 - 65000 GBP ANNUAL Today
Job description
Job Title: Real Estate Investment Associate
Location: London, St Pauls
Department ICG Real Estate
Reporting to: Real Estate Investment Director
ICG Summary
Intermediate Capital Group (ICG) is an FTSE-100 listed, FCA-regulated alternative asset manager with over 30 years' history, managing $71bn of assets and investing across the capital structure. We provide flexible capital solutions to help companies develop and grow. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit. The business employs over 600 people in 15 countries around the world and is well positioned for growth and benefits from the long-term trend of increased demand for alternative investments.
To make the most of your career at ICG, you will be inquisitive, self-motivated, engaged, collaborative and agile. ICG is a place where we are all dedicated to achieving common goals.
Our teams describe ICG as ambitious, collaborative, empowered, entrepreneurial, professional and acting with integrity. We translated these attributes into a core set of values and, together with our purpose, this represents who we are today and whom we aspire to be tomorrow.
For three decades we have been constantly striving for excellence in all aspects of our business. Whether that is through the people who join us, how we support and develop them throughout their career, and the culture we create and live in. It is also evident in the role we play in society through the investments we make, our charity work and what we stand for.
We relentlessly pursue our ambition to provide an inclusive and diverse environment where everyone has plenty of opportunities to contribute, succeed and be themselves.
Position Summary
The real estate division of ICG comprises 40 multi-disciplined professionals, including 33 investment professionals and a six strong team with specific responsibility for credit risk management, portfolio monitoring and fund operations. We manage funds and other investment vehicles with aggregate commitments of £3.6bn. Our investors benefit from our proven, risk averse, investment philosophy, transaction sourcing network and the direct property experience within the team, which ensures that we have an intimate understanding of the key UK real estate sub-markets.
The Asset Management team is responsible for managing distressed positions in the portfolio, analysing the performance of individual investments and identifying areas or opportunities for enhancing the returns to deliver the best risk / return outcomes for investors.
You will be part of our Asset Management team, providing analytical support on the underlying transactions that require close monitoring or that have complex business characteristics and / or performance issues with borrowers. A high level understanding of the wider loan portfolio will need to be maintained to ensure challenges can be anticipated and met head on.
You will also assist in identifying loans that may be falling behind business plan, but meeting covenants, and provide analytical and real estate understanding to identify further value add upside, both at the property and financial level, that may not have been identified by the Borrower.
Primary Responsibilities:
The responsibilities of the role include, but are not limited to:
Monitoring
- Regular meetings with Portfolio Management re the watchlist deals that are not performing in line with business plan or have challenges that mean that they will likely not perform in line with business plan in the future.
- Maintain a broad high-level understating of all deals presented on the watchlist.
- Agree with Portfolio Management which deals require Asset Management input at a critical level, and at an initial high support level.
Evaluation
- Responsibility for deals that are passed on from Portfolio Management.
- To evaluate the challenges with each deal and implement a strategy that will deliver the best risk adjusted returns for the Fund within the lifetime of the Fund.
- Develop these revised strategies with feedback from the deal originator, valuers, third party advisors and lawyers.
- Ongoing dialogue and likely negotiation with the relevant Sponsor of the deals when the preferred strategy has been determined.
Enhancement of Loan Positions and Portfolio outcomes
- Attendance at quarterly reviews of each Fund to identify any loans where initiatives could be implemented to enhance returns.
- Underwrite these initiatives at either the property or financial level to determine if they are viable and worthwhile progressing.
- Discussions with Sponsors on relevant deals to discuss such initiatives.
- Support the Head of Asset Management and the Fund Manager in evaluating and implementing portfolio level initiatives to enhance investor returns.
- Provide financial modelling for any Loan-on-Loan to assess the benefits and risks at both deal and portfolio level, monitor the pipeline for investments which may be suitable for leverage and assist with execution.
Reporting
- Preparing and presenting investment committee papers to have any required changes formally approved.
- Instructing third parties including lawyers, LPA receivers, and administrators to formally progress these changes.
Key Requirements/ Qualifications
- Real estate experience, ideally with exposure to real estate finance.
- Intimate understanding of the UK real estate sub-markets.
- Keep up to date with real estate markets.
- Excellent financial and cash-flow modelling skills.
- Possess sound general business/commercial awareness.
- Excellent written and verbal communication skills.
- Be a flexible team player.
ICG will provide equal employment opportunity to all employees and applicants for employment. No employee will be discriminated against in hiring or employment because of race, colour, sex, age, disability, religion, national origin, marital status, sexual orientation, gender identity and/or expression, ancestry, military status, genetic information, or any other basis protected by applicable federal, state or local law.
