Key purpose of the role
The UK has a thriving property market but it is failing many people, with rising levels of homelessness and people living in unsuitable accommodation. Big Society Capital has already committed £370 million in housing alongside co-investors and housed more than 2,000 people. Social investment has clear potential to catalyse and scale innovations that benefit those in greatest need. These include transitional accommodation, developing new affordable homes, supported living for people with learning disabilities and emerging approaches to homelessness such as Housing First.
In order to help us achieve our ambitions to provide homes for those in need, we are looking to recruit a new Director to help build and manage a dedicated team.
The Investment Director will do this primarily by taking responsibility for sourcing and analysing new investments that tackle housing need, identifying and analysing those issues and business models within housing where social investment may have a role to improve or scale outcomes. The role will involve working with co-investors, intermediaries and housing providers to develop solutions that meet our social impact and financial objectives.
Given the early stage of many investment proposals, you will be required to take a more collaborative approach to building proposals as well as assessing them. You will also have responsibility for deal execution, from origination and due diligence through to legal documentation and closing, as well as portfolio monitoring and management.
Big Society Capital is a lean, nimble organisation, and you are encouraged to build a role for yourself. The social investment marketplace itself is poised for growth and with us, you will have the opportunity to influence the development of it.
- Identify and develop new investment opportunities within housing that meet our impact and return requirements. Develop and maintain a strategic framework for prioritising our efforts and capital in housing, and for assessing investments against those priorities.
- Establish a network of prospective intermediaries and investors, build partnerships and co-develop solutions with those who are most actively engaged. Where appropriate design and scale specific social investment products, e.g. property funds, retail charity bonds.
- Lead investments in housing, including analysis of eligible investment proposals, undertaking detailed due diligence, applying rigorous analytical techniques, and stress testing business plans to assess investment opportunities, from both a social impact and financial return standpoint.
- Prepare Investment Committee memos that include recommendations for our Investment Committee.
- Negotiate legal documentation and close transactions
- Work closely with social investors to help them evidence their social impact – including impact management plans.
- Monitor, evaluate and manage the financial and social impact performance of investments on an on-going basis, as well as sharing and using learnings to inform future decision-making.
- Acquire and maintain a knowledge of the housing sector, the current issues and potential solutions.
- Work with our social investment engagement team to raise awareness and understanding of social investment within the housing sector; including speaking to investors, presenting at conferences, etc.
- Train and mentor Investment Associates and provide training sessions.
We are looking for an exceptional individual to bring the following range of experience, skills and personal motivations, in particular:
- The desire and ability to think differently about the role of housing investment in improving lives and communities.
- Experience of property as an investment class with an understanding of the requirements of prospective co-investors and the ability to identify and open up channels to investors with social intent.
- Experience of detailed and complex analysis and decision making.
- A strong background, knowledge and networks in either the housing sector or in property investment with social purpose.
- Experience of shaping and delivering a strategy.
- Experience of managing people, leading teams and forming collaborative partnerships.
- Able to demonstrable a passion and commitment to Big Society Capital’s social mission and the UK social sector.
- Strong verbal and written communication.
- Understanding of and relationships with current and prospective investors into housing.
- Strong investment experience, with particular experience of property as an investment class.
- UK social sector employment or voluntary experience, particularly within the housing sector, and understanding of the relevant policies.
- Investment execution skills including comfort with negotiating legal documentation.
- Social investment background.
- Proven project management skills.
- Experience of operating at, working alongside, and presenting recommendations to either executive or board levels within organisations.
- Computer literacy especially Excel
- Bachelor’s degree or equivalent
- Hunger to learn and be involved in building the social investment market
- Structured thinker able to deal with complexity and uncertainty
- Strategic, innovative and creative
All applicants must have existing Right to Work in the UK
Big Society Capital is an equal opportunities employer