Senior Investment Manager - Real Assets, 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 Senior Investment Manager role is a senior role within the Real Assets team. It will have a high level of investment exposure from the outset. 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 Senior Investment Manager’s role involves leading significant, if not all, aspects of a particular transaction. This involves managing the investment throughout its’ full lifecycle from strategy development and origination to investment structuring, negotiation, diligence and deal completion. Post closing the role also includes all elements of managing a diverse portfolio of investments until eventual exit. All of this occurs in an environment with multiple internal and external stakeholders where strong project management and communications skills are imperative to delivering successful outcomes.

Recognising the dynamic nature of the ISIF mandate, responsibilities may change in relative importance in response to market conditions over time, and the successful candidate will be required to remain flexible to supporting the evolving priorities of the team across a range of investment types and activities.

The Senior Investment Manager will demonstrate a strong mix of technical, commercial and financial proficiency, backed up with 8+ years of experience in real estate, infrastructure, corporate finance, investment banking, family office or similar environment.

Principal Accountabilities

 The Senior Investment Manager will be required to:

Exhibit best-in-class commercial analysis, as well as adherence to ISIF’s legal, risk, economic impact and ESG requirements. Deliver significant complex elements of, or all of, new transactions as well as various portfolio management activities. Lead negotiations with a wide range of third parties. Set scope of analysis, organising external advisors as required while project managing investments through the ISIF Investment process and working with all relevant stakeholders. Produce very high quality and impactful papers and presentations. Communicate with impact and clarity at senior levels to internal and external stakeholders. Develop strategies and originate a pipeline of appropriate transactions that can deliver commercial return and economic impact via networks and external relationships. Work efficiently and constructively with other Investment Analysts, Managers and Directors across the full range of the Fund’s investment activities. Contribute to on-going process improvement initiatives. Maintain flexibility to adapt in recognition of the dynamic nature of ISIF’s activities.

Skills

Experience structuring and managing equity and/or debt investments, as well as familiarity with fund structures. Prior exposure to real estate and/or infrastructure is preferred, with an ability to rapidly become knowledgeable in a particular sub-sector. Strong communication skills – written, verbal, presentation, persuasion – and comfortable interacting with senior counterparties. Experienced and competent negotiator. Diligent, high attention to detail, self-motivated, a clear and independent thinker. A flexible team player. Personal characteristics of integrity, discipline, curiosity and resilience.

Knowledge

The ideal candidate will:

Have a third level degree in a relevant area – finance, accounting, real-estate, economics, engineering, or equivalent. An advanced degree and/or professional qualification is also helpful. Demonstrate experience in Real Assets investment or corporate finance to include structuring equity, debt and fund investments as well as other related areas. Have 8+ years of relevant experience.

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.