Executive Head - Investments and Fund Management

SUMMARY:
The purpose of this appointment is to lead and grow the Investments and Fund Management Division of the business.

POSITION INFO:

Responsibilities and Work Outputs

General

Strategic

• Determine and manage the strategic outcomes of the Investments and Fund Management Division as aligned with the strategic objectives of the company.
• Together with the CEO, develop new property investment products (sector specific, themed and in geographies outside SA) for the real estate investment market with the aim of securing third party capital to manage.
• Develop and establish strategic relationships with financiers of equity and debt.

Operational

• Manage the day-to-day affairs of the fund management business, including financial, impact evaluation and reporting, relationship management with various stakeholders, and the management of a team of internal investment and management professionals.

Financial

• Set, agree and achieve the financial objectives of the fund management business, aligned to the overall objectives of the company.

Investments and Fund Management

The Company Investments

• Source potential transactions suitable for the company to assume a principal position in line with current Fund Management mandates approved by the company Board. This will be achieved through, inter alia, forming relationships with external and internal property brokers to enhance the generation of potential opportunities.
• Prepare financial models to analyse the potential return for the company and/or the investors under various risk scenarios.
• Prepare submissions for approval to the company Board / Transaction Approval Committee / Investment Committee/s, whichever is applicable.
• Where required, source project and investment debt finance in accordance with the relevant fund mandate and negotiate the funding package and legal agreements with selected banks. Arrange and manage the finance requirements and implementation of the funding terms.
• On an ongoing basis monitor funding requirement, covenant compliance and default risk.
• Prepare suitable documentation to obtain approvals and implement the transaction.
• Manage the transaction to completion, including monitoring and redevelopment, if applicable, and attempt to achieve the most effective and beneficial exit mechanism for the company and / or the investor.
• Responsible for ongoing administration relating to the transaction, including appropriate accounting, accrual of income and monitoring of expenses.
• Attend investment management meetings and guide the investment and operational mandates.
• Review investment performance on an ongoing basis and periodically report back to the investors.
• Set investment strategy around interest rates.

South African Student Accommodation Impact Investments (SASAII)

• Manage the platform to deliver on its objectives of a target 20% IRR.
• Source capital (equity) from investors.
• Build relationships with investors and asset consultants, and banking institutions to raise debt.
• Engage in investor relations and stakeholder management whenever required.
• Source and review investment opportunities in line with the fund mandate.
• Set, review and approve legal documents to implement the transactions.
• Reach financial close before deploying the capital.
• Deploy capital as required through the development/investment period.
• Work closely with the asset manager on the asset strategy and extraction of value through its life-cycle.
• Prepare, evaluate, review and circulate reports (financial, ESG) to investors.
• Act as a Key Person representing the Investment Manager to the platform.
• Set a governance framework and actively manage and assist to ensure that objectives are met.
• Review risk parameters of the platform and ensure that these are sufficiently managed.
• Prepare periodic reporting to investors to track performance.
• Co-ordinate meeting packs and feedback to the required investor and board meetings.
• Review and motivate investor distributions.
• Ensure compliance with the Shareholder agreement and other mandate delegations.
• Ensure that financials are prepared, reviewed and circulated timeously for approvals.

Momentum Property Opportunities Fund (MPOF)

• Manage the platform to deliver on its objectives of a target 16% IRR.
• Build relationships with banking institutions to raise debt.
• Review investment opportunities.
• Reach financial close before deploying the capital.
• Deploy capital as required.
• Asset manage/monitor the performance of the investments through their life-cycle.
• Prepare reports to investors.
• Ensure governance objectives are met,
• Review risk parameters of the platform and ensure that these are sufficiently managed.
• Prepare periodic investor statements to track performance.
• Co-ordinate meeting packs and feedback to the required investor and board meetings.
• Review and motivate investor distributions.
• Ensure compliance with the Shareholder agreement and other mandate delegations
• Ensure accounts are up to date.

Company Fund

• Asset manage the platform to deliver on its objectives of a target 20% IRR.
• Monitor the performance of the investments through their life-cycle.
• Ensure accounts are up to date.
• Co-ordinate meeting packs and feedback to the required investor and board meetings.
• Review and motivate investor distributions.
• Ensure compliance with the Shareholder agreement and other mandate delegations.
• Prepare periodic investor reports.

Other Duties and responsibilities include, but not limited to:

• Identify, evaluate and negotiate investment opportunities, to prepare and approve investment agreements to enable the investor to purchase and advance funds in respect of acquired syndicates with other investors, where appropriate.
• Sell, realise, exchange or otherwise dispose of the investment falling within the investment guidelines.
• Approve a basis for the investor to enter into investment and disinvestments agreements and where appropriate, to give warranties and indemnities in connection with acquisitions or disposals.
• Accept applications and require the investor to admit prospective investors and to issue drawdown notices.
• Secure the payments of obligations of the investor over the investment assets and the undrawn notices.
• Require investments either by the investors directly or indirectly through one or more special purpose vehicles established by the investors for such purpose.
• Maintain the investors records and books of account and allow any investor and its representative access.
• Make distributions to investors in accordance with the shareholders agreement or mandate document.

Manage and lead a team of professionals:

• Manage and lead the Investments and Fund Management team.
• Set Key Performance Indicators (KPI) for the team.
• Develop, guide and train the team to deliver on their KPI’s and divisional and company objectives.

Skills Essential to the Role – Technical

• Honors Degree in Business, Finance or Property Studies (with appropriate experience). A CA (SA) or CFA qualification is a distinct advantage.
• Minimum 10 years relevant experience to real estate investment management, with two years exposure to project development and management.
• Superior financial modeling capabilities.
• Excellent numerical capabilities and communication skills.

Knowledge, Skills and Abilities Required

Technical knowledge of building components and property management,

Skills in workflow analysis and management,

Ability to effectively manage time and schedules,

Ability to select, evaluate, coordinate, and quality-control the activities of professional consultants.

Strong analytical, problem solving, and critical thinking skills gained within a complex, demanding working environment.

Ability to work under pressure and meet deadlines,

Advanced project planning, management, and leadership skills within area of professional expertise,

Knowledge and understanding of contract documents and specifications, including the ability to review financial statements, investment reports and project reports.

Familiarity with a variety of software packages,

Ability to develop estimates and feasibility studies

Knowledge of budgeting, cost estimating, and fiscal management principles.

Ability to travel and investigate new markets and locations.

• Ability to analyse and evaluate information to make decisions, solve problems and achieve goals.