Vice President, Investments - London, United Kingdom - Allied Climate Partners

Description

What is Allied Climate Partners (ACP)?

ACP is a philanthropically-backed investment organization with a mission to accelerate the flow of capital for the climate transition in emerging economies. ACP's goal is to aggregate equity for climate-focused, early-stage project development and business funds. The funds are meant to address a critical bottleneck in sustainable infrastructure – the lack of bankable, climate-related projects and businesses. ACP selects regional investment managers and makes anchor investments of first-loss equity. ACP helps these managers aggregate climate-focused equity funds with a mandate on the early, development stages of projects and asset-oriented businesses. ACP also provides investment managers with value-added support in strategy, recruiting, fundraising, and partnerships. Over time, ACP will seek to establish additional mandates across different themes and geographies in addition to project development.

ACP's initial focus regions are Southeast Asia, Africa, Caribbean & Central America, and India. ACP is building on the initial success and proof of concept of the Southeast Asia Clean Energy Facility (SEACEF). ACP's first fund commitment was to anchor SEACEF II, managed by Clime Capital, which reached a $127M first close in December 2023. SEACEF II makes catalytic, early-stage investments in climate-focused projects and companies in Southeast Asia. Over time, ACP intends to aggregate capital to support strategies focused on catalyzing capital formation around business platforms addressing other aspects of energy transition in developing economies.

ACP is an independent nonprofit organization with separately owned, for-profit subsidiaries. ACP has been incubated by Three Cairns Group, a philanthropy and investment firm focused on global climate action, based in New York. In addition to Three Cairns, ACP initial funders include Arnold Ventures, Ballmer Group, Bezos Earth Fund, Anita and Josh Bekenstein, the Children's Investment Fund Foundation (CIFF), Sea Change Foundation International, the Soros Economic Development Fund (SEDF) and several others.

ACP has strategic partnerships with a number of leading MDBs and DFIs, including the International Finance Corporation (IFC), a member of the World Bank Group; U.S. International Development Finance Corporation (DFC); British International Investment (BII), the UK's DFI and impact investor; the African Development Bank (AfDB); Proparco, a subsidiary of Agence Française de Développement Group; FMO, the Dutch Entrepreneurial Development Bank; and IDB Invest, a member of the Inter-American Development Bank Group. ACP also signed a strategic partnership agreement with the Monetary Authority of Singapore (MAS), the Singapore-headquartered global investment company Temasek, and IFC to increase the number of bankable climate projects in Asia.

The Chief Executive Officer of ACP is Ahmed Saeed, who prior to ACP served as the Asian Development Bank's Vice President for Southeast Asia, East Asia, and the Pacific. ACP's Chair is Mark Gallogly, Co-Founder and Managing Principal of Three Cairns Group, and a 35+-year career investor and climate advocate. ACP currently has a team of approximately 10 full-time equivalents, who are focused on building the organization.

ACP's investments

ACP's investment activities are primarily focused on investments in funds, where ACP will act as a foundational / anchor Limited Partner committing first-loss junior equity in blended finance fund structures. A key element of ACP's investment approach is to catalyze fund formation itself by creating or co-creating fund mandates for investment in climate-related projects and companies alongside general partners and then making the first commitments to the fund.

The initial focus of ACP is on investment in dedicated climate funds that invest equity (and convertible debt) into projects, project platforms and early-stage companies. ACP is not seeking to invest in funds that take technology risk, preferring those that are focused on accelerating the deployment of well-understood globally-derisked climate solutions in emerging economies.

Job Overview

ACP is seeking a Vice President, Investments (VP) as an integral member of ACP's global investing team. The VP will report to the Managing Director, Investments.

As a member of ACP's global investing team, the VP will contribute to all the steps of ACP's investment process in a collaborative fashion with other members of the team. This begins with fully understanding the challenges and opportunities in each region and/or sector by actively engaging with market participants and performing qualitative and quantitative market analysis leading to a proposed theory of change. The VP will then plan and execute on the process of creating / co-creating tailored, high-impact, ACP fund mandates and strategies. To fulfill these mandates, the VP will contribute to sourcing, evaluating, and recommending potential fund managers. The VP will also conduct due diligence on the selected funds and support the MD in all transactions for ACP. Post fund investment, the VP will work collaboratively with selected fund managers to add value to their activities and help them succeed and grow.

As a new organization, ACP is looking for an adaptable, organized, and entrepreneurial individual. Ideally, the VP will have:

• Investment experience, including due diligence and transaction structuring;
• A strong investing track record (preferably in EMDEs, climate and infrastructure). Experience across a range of platforms (e.g. funds, project developers etc.) is a plus;
• Experience investing alongside DFIs and MDBs;
• A deep network in EMDEs, including amongst fund investors;
• Climate sector knowledge.

The VP will contribute across the full life cycle of each investment as part of ACP's global investments team.

Location : Non-US, with a preference for Europe, Dubai, or London. International travel of ~40% expected. Team and fund managers are located globally (including US East Coast, Africa, Singapore), so flexible working hours will be required.

Experiences & Competencies:

• Character - High integrity. Mission orientation and strong work ethic. Gravitas and ability to represent the organization externally.
• Investment track record in EMDEs – 4 to 8 year investment track record showing strong returns and development impact through investing in funds or directly in companies or projects
• EMDE market experience – Extensive EMDE experience in the key regions in which ACP intends to invest (e.g., Africa, India, Caribbean & Central America, Southeast Asia)
• Network – A powerful professional network of LPs, GPs and other capital allocators. Connections with global philanthropies, particularly those working in climate.
• Climate – A deep understanding of investment opportunities, investment managers and challenges in climate (sectors, geographies, stages).
• Abilities to collaborate and partner – Experience working closely with fund managers to support their growth and deliver value and impact for ACP.
• Fundraising – Ability to work with fund managers to help them raise junior and senior equity.

We encourage people of all backgrounds, races/ethnicities, genders, and other forms of identity to apply.

Compensation range: $150,000-250,000, commensurate with experience.

To Apply:

Please email attaching the following documents

1. Your resume, including deals you have worked on

2. Based on what you know about ACP, please list 3-4 of your core skills or experiences that will be most relevant to this job. Please use concise bullet points, rather than prose, and not more than 300 words

3. A brief comment on preferred location of work, and work eligibility in that location