Senior Investment Director

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.

About the role

In your role as Senior Investment Director you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to operate as a senior leader in the Private Markets Group (PMG) leading origination and execution of investments and divestments for Private Credit and Alternative Income (PCAI) mandates as well as supporting the ongoing portfolio management of the PCAI portfolio.

The senior role holder will play a leadership role in shaping PCAI investment strategy and portfolio construction, leading origination, underwriting, execution and portfolio management activities across the PCAI mandate. The role is expected to drive investment performance through sourcing differentiated opportunities, leading complex transactions, influencing strategic portfolio decisions and representing USS within the wider private credit market.

The PCAI team consists of 20+ professionals managing approximately £8bn across Investment Grade, Sub Investment Grade Credit, as well as special situations & asset origination platforms. The Matching credit mandate, c£4bn of investments, is targeting private investment grade, long duration investments focusing on infrastructure, renewables, and real estate backed credit, with a bias towards UK investments but selective consideration for European / US opportunities which demonstrate attractive characteristics for USS.

What you will be doing

• Lead origination and execution of potential investments for PCAI strategies, making investment recommendations to the Head of PCAI, PCAI team and Private Markets Investment Committee (PMIC)
• Lead presentation and defence of investment recommendations at PMIC and other USS governance forums, ensuring investment proposals are aligned with strategic portfolio objectives and USS risk standards.
• Develop strategic relationships with sponsors, originators, asset platforms, institutional investors and corporate counterparties to enhance proprietary sourcing opportunities and broaden PCAI and USS's market access.
• Partner with the Head of PCAI in the development and implementation of portfolio construction strategy, identifying investment themes, capital deployment priorities and portfolio optimisation opportunities.
• Contribute to cross PMG sourcing and execution and more broadly to Private Markets investment idea generation which fit with USS' strategic priorities
• Oversee and manage (as appropriate) the transaction process with key service providers, including legal, commercial & financial due diligence and tax advisers
• Oversee post transaction monitoring including reviewing performance, analysis, reporting and portfolio company value creation plan initiatives
• Represent USS on portfolio company boards as well as within industry including attendance and presenting at conferences and proactively promoting PMG's investment strategies
• Recommend potential divestments to Head of PCAI and PMIC and oversee lead marketing and execution of PCAI divestments
• Proactively participate in operational aspects of PMG, recommending efficiencies or changes in process, procedures or structure
• Provide line management to members in the PCAI team and across PMG. In addition, provide coaching and support to junior members of the team given our focus on developing junior talent within PMG
• Act as a senior leader within PMG, fostering collaboration across Private Equity, Infrastructure, Property and Asset Management teams to maximise cross-platform sourcing, underwriting and portfolio management opportunities.

About you

We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then

• Extensive experience of credit investment in structured finance and corporate asset classes, with a strong track record in idea generation and sourcing transactions, particularly in UK & Europe
• Strong track record of structuring and executing credit investment processes (both acquisitions and disposals)
• A strong understanding or experience in principal investing
• Extensive network within the private credit and structured finance community
• A strong understanding or experience of credit asset management
• Demonstrated experience contributing to portfolio construction, capital allocation decisions and portfolio risk management within private markets portfolios.
• Proven ability to lead multi-disciplinary investment teams and influence decision-making at senior executive and investment committee levels.
• Recognised market presence with an extensive network across sponsors, banks, advisers, institutional investors and asset managers.
• Ability to combine detailed investment analysis with long-term strategic portfolio and thematic thinking.
• Strong understanding of ESG, sustainability and responsible investment considerations within private credit investing.

Why join us?

How we will reward you

• Great starting salary
• Generous annual leave package
• Access to a high quality pension scheme provided through Universities Superannuation Scheme
• Supportive people policies (including enhanced occupational sickness pay and family friendly pay)
• Financial contributions towards your personal development to help you maintain your physical and mental wellbeing
• Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership
• Learning and development opportunities to develop your skills, knowledge and talent
• Employee Volunteer Days to support the communities where you work and live
• Cycle to Work Scheme

Our culture

• Social Mobility Pledge
• Menopause Workplace Pledge
• Actively support Women in Tech
• Annual Intern programme supporting individuals to gain work experience.

About us

Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for more than 500,000 members and their families. We are one of the largest pension schemes in the UK, with total assets of around £90.8bn (at 31 March 2022).

To find out more, please visit https://www.uss.co.uk

The Private Markets Group (PMG) consists of a 60+ person team that oversees c. £30 billion in assets across a fast-growing and diverse portfolio of private equity, infrastructure, private credit and property investments on behalf of the Universities Superannuation Scheme (USS). By operating as a single team, with individual areas of specialism and expertise, PMG is able to combine its resources through a OnePMG approach to investing which allows us to maximise origination, due diligence, transaction execution and asset management by tailoring the right mix of skills.

Capable of deploying capital across the full range of private market investing (direct, joint ventures, partnerships, co-investments and funds), and with in-house asset management and strategy teams complementing our investment function, PMG has developed a strong track record of innovation that is frequently recognised by our peers across equity, credit and property and, as one of the UK’s pre-eminent private markets' investors, PMG often partners with many of the largest, most respected global financial institutions.

PMG's portfolio includes ownership of some of the UK’s largest and most recognisable private companies including Heathrow Airport, Thames Water and Moto and, through its holdings, is an established presence in the UK renewables sector. We also hold governance positions through our investments in a range of companies located across the EU, North America and Australia with exposure across different industries and sectors.

Being part of the UK’s largest pension scheme and serving the needs of USS and its members, PMG takes its role as a responsible investor seriously and is committed to adopting and promoting strong ESG credentials across its investments.

USSIM is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting [email protected].

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