Head of Special Assets

SRI Executive Search has been contracted by the Private Infrastructure Development Group (PIDG) to assist with the search for an exceptional candidate to fill the position of Head of Special Assets.

About the Private Infrastructure Development Group (PIDG)

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and southeast Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity, and urgency.

PIDG offers technical assistance for upstream, early-stage activities and concessional capital; invests in early-stage project development and project and corporate equity through its project development solution, InfraCo; its debt solution EAAIF (the Emerging Africa & Asia Infrastructure Fund) is one of the first and more successful blended debt funds in low-income markets; and its guarantees solution, GuarantCo, provides credit enhancement and local currency solutions to de-risk projects. PIDG also supports a growing portfolio of local credit enhancement facilities, which unlock domestic institutional capital for infrastructure financing.

Since 2002, PIDG has supported 258 infrastructure projects to financial close, which provided an estimated 232 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia and Sweden, and Global Affairs Canada.

For more information, visit

Role Purpose

The role reports into the Chief Executive Officer and will work closely with Chief Investment and Project Development Officer and the Asset team as well as Finance and will be responsible for overseeing the distressed assets and, formulating a strategy for project teams to exit the projects realising the best value proposition for the company and executing the PIDG strategy.

Major Duties and Responsibilities

Portfolio review and development of the exit strategy

• Assess/ validate the criteria used to identify the distressed assets on a holistic basis taking into account partner/ shareholder capability, effectiveness of the board/ Governance process and other.
• Develop an ‘exit’ strategy for each project that will maximise the value of the exit to the company. The strategy will include:
• A clearly articulated summary of the status of the project, status against previous Investment Committee approvals and status against current business plans, shareholder agreements and loan agreements.
• Identify whether the project can be turned around or should be exited.
• Impact on company’s income statement and balance sheet.
• Should include a timeline, a budget and identify key advisors that may be required i.e. legal advisors, insolvency advisor or corporate finance/ financial advisor.
• Highlight key risks that may delay or derail an exit process and possible mitigants.
• Provide a clear recommendation on how project teams should proceed.
• The per project strategy will be presented to Investment Committee (IC) for approval.
• Collaborate with project teams, Asset management and Finance teams in planning and execution of the exit strategy.

Execution of the Exit Strategy

• Once the per project Exit strategy is approved to proceed with recommended actions and appoint the required advisors for company to exit the project as expeditiously as possible; balancing both time and exit value.
• To lead the team (advisors, project manager and possible distressed asset resource) and negotiate with the project partners to implement the strategy, the Head of Asset Management and CIPDO will be supporting these negotiations.
• Communicate with the Communications team on the course of action so that the company can ensure that our funders are informed, as required, and the media can be monitored. The damage to PIDG’s reputation as a development funder should be considered at all points.
• On a quarterly basis provide an update to the ExCo on progress against the various milestones.
• Present to IC the progress at the twice a year Portfolio review meeting.
• Present the final negotiated exit proposal to the IC for approval before concluding the process.
• Follow up on various conditions precedent and enforce repayments, as per the exit plan.
• You may be appointed to the board of the projects to ensure that governance and process are followed correctly at board and shareholder level.

Profile

• M&A, corporate finance, legal or general business background with extensive experience of exiting small ticket investment in emerging markets.
• Experience of working with and being sensitive to different cultures as the role will encompass both Africa and Asia.
• Private equity/ corporate restructuring background /experience of leading teams of advisors efficiently i.e. controlling advisor costs preferred.
• Expert negotiator with a solution-based focus and ensuing obstacles are successfully mitigated.
• Familiar with financial models, valuations, shareholder agreements, loan agreements and structuring various exit agreements including share purchase agreements.
• Experience of managing insolvency processes will be advantageous.
• Experience of managing and minimising tax liabilities will be advantageous.
• Proven experience in collaborating with various teams and achieving consensus driven solutions.

Education

• Degree in finance, legal or business strongly preferred.

Terms of Appointment

• Frequent travel is a requirement.
• Reporting to the Chief Executive Officer (CEO).
• This is a full-time/permanent position.

PIDG is an equal opportunities employer and values the diversity of all its employees, associates, owners, service providers and customers.

Role Location

London, Singapore and Nairobi

Rest assured, all information will be handled with the utmost confidentiality.

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