Investment Analyst

Legal & General Insurance Ltd
London, United Kingdom
24 Mar 2019
24 Mar 2019
Industry Sector
Finance - General
Employment Type
Full Time

The purpose of this role is to act as a key source of financial and analytical expertise within the Direct Investments ("DI") team, focused on private equity investments into the affordable housing and related residential property and financial services sectors, operating within Legal & General Capital ("LGC").

One of the key purposes of the LGC team is to deliver the Direct Investments strategy for the L&G Group. LGC manages c.£8bn of capital from L&G's principal balance sheet and is delivering the group strategy of moving and diversifying a significant proportion of this into illiquid direct investments in search of better risk adjusted returns.

To date, over £2bn has been invested into Direct Investments. The LGC team originates and ensures successful under-writing and execution of investments. A key element of the process, both at origination and under-writing stage and throughout the on-going management of the assets once transacted, will be the provision of appropriate financial analysis.

The role holder will be responsible for (a) supporting the origination, structuring, execution and active management of housing initiatives and (b) supporting the investment oversight and active management of the recently launched Legal & General Affordable Homes platform.

Principal Accountabilities:
  • Provide support to the recently launched in-house affordable housing provider, L&G Affordable Homes. Working with colleagues in the LGC investment team, provide oversight of the business, working closely with management to support its growth
  • Support on all fundraising requirements of the affordable housing business, including equity and debt fundraising, working closely with advisors as appropriate and ensuring the corporate structure remains efficient and fit for purpose.
  • Assist with execution and management of LGC's investments within the affordable housing sector and related sectors for L&G to meet its business objectives, provide significant input to the shaping and implementation of LGC's investment strategy
  • Comprehensive investment analysis of all direct investments including financial statement and market analysis, financial model building and relevant stress testing, challenging of external models, logically assessing the up and downside risks to deals.
  • Preparation and presentation of investment reports both for dissemination internally within the team and more broadly to/for group-wide investment committees.
  • Portfolio company performance monitoring duties, including reviews and report writing
  • Actively contributing to the formation/implementation of the Direct Investments strategy.
  • Modelling the capital (economic, regulatory: IFRS and Solvency II) implications of Direct Investments, to understand how Direct Investments fit onto the balance sheet and therefore identify the key investment risks for the deal.
  • Assisting in deal sourcing and management of advisors, partners and stakeholders

  • Full/Part qualified ACA or CFA or similar

Knowledge & Skills:
  • Strong entrepreneurial mind-set - happy to work across both M&A transactions and platform creation
  • Experience of working in residential real estate and/or related fields (e.g. real estate finance)
  • Ability to perform financial statement analysis, including in particular detailed cash flow modelling of deals, including familiarity with DCF valuation and LBO modelling, to manage and interrogate cashflows and to develop recommendations for a variety of senior audiences
  • Must be enthusiastic and a self-starter. Commercially astute and entrepreneurially minded
  • Excellent financial analysis skills. Strong quantitative background
  • Should have experience in a relevant role at a financial institution, including a bank, private equity, financial advisor, accountant, transaction services or fund management firm
  • Ability to assess and analyse investment opportunities from first principles
  • Mandatory experience of analysing financial statements, understanding capital structures (debt and equity) and a comprehensive understanding of various valuation techniques
  • Must have experience of and be competent in preparing investment reports. Preference for previous transaction experience within corporate finance, private equity, infrastructure or real estate

Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 25 days' holiday, private medical insurance, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.

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