Investment Manager - Real Assets Investments, Dublin

Summary of the Business

The National Treasury Management Agency (NTMA) provides asset and liability management services to the Irish Government. It has evolved from a single function agency managing the National Debt to a manager of a complex portfolio of public assets and liabilities.

Businesses managed by the NTMA include borrowing for the Exchequer and the management of the National Debt, the State Claims Agency, the New Economy and Recovery Authority (New ERA), the Ireland Strategic Investment Fund (ISIF), and the National Development Finance Agency. The NTMA also assigns staff to the National Asset Management Agency (NAMA), the Strategic Banking Corporation of Ireland (SBCI) and Home Building Finance Ireland (HBFI).

Working at the NTMA offers excellent benefits including:

Flexible work options including remote working and variable work hours An extensive wellbeing programme Excellent learning and development opportunities that allow for full career development within the organisation A diverse range of initiatives: LGBT+, Gender Matters, Disability Awareness, Sports & Social, Volunteering and lots more Reimbursement of annual professional membership fees Defined Benefit Pension Scheme

The Ireland Strategic Investment Fund sources and completes investments on a commercial basis in a manner designed to support economic activity and employment in Ireland. This dual objective, commercial return & economic impact, is known as our double bottom line. ISIF’s strategy focuses on making transformational investments across its impact themes of; Climate, Housing and Enabling Investments, Scaling Indigenous Businesses, and Food and Agriculture. See for more detail.

The Real Assets team is responsible for one of ISIF’s four core impact themes and makes investments across the housing, commercial real estate, urban regeneration and infrastructure sectors which includes;

Making direct equity and debt investments in large scale high impact projects in Dublin and nationally across urban regeneration, commercial real estate and core infrastructure developments  Making commitments to fund platforms that can transform the funding landscape for homebuilding, create new workplaces and enhance Ireland’s global connectivity

The capital invested by the Real Assets team is differentiated by its long investment horizon, the flexibility with which it can be structured, and its ability to fund larger transactions. Flexibility and adaptability are core tenets of team, noting the highly bespoke nature of many of its activities.

ISIF’s real assets team has i) made over €2.5bn of housing investments which will support the delivery of 25,000 new homes by 2030, and is in the process of delivering on a target to invest €800m into equity risk opportunities within the homebuilding sector, ii) delivered large-scale urban regeneration projects in Kilkenny, Limerick and Waterford, and is in the process of making a series of similar investments in cities nationwide, iii) been a through the cycle provider of capital to fund development of new, sustainable workplaces in Ireland and iv) is continuing to make infrastructure investments which can support Ireland’s digital and physical global connectivity.

Role Summary

The Investment Manager is a key role within the Real Assets team that will work collaboratively on deal teams. The successful candidate can expect to work on all aspects of a transaction, ranging from origination through to deal structuring and negotiation, due diligence and underwriting, financial analysis, preparation of investment papers and managing legal processes and ongoing investment monitoring. The successful candidate can expect to work on many types of transactions ranging from direct equity or debt investments in development projects, to making and structuring investments in residential, commercial real estate and infrastructure funds and platforms. The role offered provides an ideal and unique opportunity for a high-calibre candidate, with 5+ years of investment related experience from a background consistent with the experience sought for the role, to gain exposure to the highest standards of the investment management industry.

All members of the ISIF team are required to remain flexible to respond to the dynamic nature of the ISIF mandate – this may require team members to apply their skills to other types of investment, outside of their core areas of responsibility, from time to time.

Principal Accountabilities

The Investment Manager will be required to work alongside Investment Analysts, Managers and Directors, usually as part of a range of dedicated deal teams. Activities will include:

Completing financial and commercial analysis and due diligence on transactions Working on investments in projects that are through the development cycle from pre-planning to design and construction Co-ordinating projects/transactions, reviewing and ensuring quality, driving delivery Setting scope of analysis required, liaising with professional advisors as required and interpreting due diligence Contributing to deal structuring, developing investment term sheets, reviewing and commenting on investment documentation, financial models and ancillary legal agreements Proposing and implementing plans of action/next steps and monitoring progress and delivery Producing very high quality written reports, internal papers and presentations Wide ranging monitoring responsibilities Part of team involved in negotiations with third parties Understanding and appreciating ISIF strategies and mandate in detail

Knowledge

The ideal candidate will:

Have a third level qualification. Demonstrate a keen and well informed interest in investments with experience in real estate or infrastructure investments with a particular focus on equity investments. Technically strong across sector(s) and/or product types

Experience

Indicatively 5+ years’ of investment related experience, preferably in investment banking, corporate finance, commercial/corporate banking, accountancy, infrastructure or real estate investment, or similar environment Experience working on real estate, infrastructure and other direct and cashflow based transactions will be an advantage but not a requirement Experience of relationship management with clients, advisors, investees and/or other third parties

Skills

An independent operator and thinker with demonstrable interest in the real assets sector Strong analytical skills incorporating commercial and financial analysis A strong communicator, both in writing and verbally An open and good collaborator Displays high level of appetite, flexibility, accuracy, speed, delivery and reliability Flexible and considerate team player Good range of interpersonal skills to influence internal and external stakeholders 

The NTMA is proud to be an equal opportunities employer. We recognise that a diverse and inclusive workplace informs better decision making, creative thinking, innovation and drives business performance. We are strongly committed to ensuring that our workforce is representative of our society.