Principal (Origination/Execution), Infrastructure & Renewable Resources

About BCI

British Columbia Investment Management Corporation (BCI) offers an exceptional opportunity to work at a world-class organization while living in a west coast setting. With $233 billion of gross assets under management, BCI is the provider of investment management services to British Columbia’s public sector. We invest globally across a range of asset classes and strategies in public and private markets. BCI generates the investment returns that help our British Columbian public sector clients build financially secure futures.

The people who work at BCI are committed, passionate, and approachable. They aim for continuous improvement and share BCI’s core values of clients first, performance focused, world class, accountability, transparency, and integrity. Being recognized as one of Canada’s Top 100 Employers, Canada’s Top Family-Friendly Employers and BC’s Top Employers exemplifies BCI’s ongoing commitment to be a progressive workplace of choice; one that attracts, retains, and promotes talent so that we can continue to work towards meeting our clients’ financial goals. As an active in-house asset manager, BCI depends on specialized skills and expertise to successfully execute its world-class investment strategies and fulfill client needs. We are currently expanding our team and our skill base to equip BCI for the future.

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Interested candidates are encouraged to apply right away as we are keen to start the hiring process ASAP.

This role is based in our Victoria, BC office.

DEPARTMENT DESCRIPTION

On behalf of BCI’s clients, the Infrastructure & Renewable Resources (I&RR) team invests globally in private infrastructure businesses that provide stable long-term results. BCI’s I&RR portfolio has $20+ billion in AUM and ranks as the ninth largest institutional infrastructure investor globally. The portfolio spans a range of sectors including energy, transport, utilities, and data infrastructure as well as tangible assets in timberland and agriculture.

I&RR seeks significant investments in private companies enabling an active governance approach. The team invests in a variety of capacities including as a sole sponsor, co-investor, and very selectively through externally managed funds. In these capacities, the team seeks to take an active oversight role built on a foundation of trusted relationships with all stakeholders and a commitment to long-term value creation.

POSITION DESCRIPTION

The Principal works as a key member of transaction teams of typically 3-6 people tasked with the sourcing, origination, transaction execution and asset management activities for the ever-growing portfolio of investments in the Infrastructure and Resources space. The Principal plays a key role in protecting, growing, and realizing the value of the portfolio by a) actively engaging with management teams, other shareholders and advisors on issues confronting individual companies, b) building and leading processes to ensure sustained progress across the entire portfolio within BCI, and c) engaging in the sourcing and execution of new transactions and Portfolio Company M&A. The Principal supports due diligence activities for prospective investments by leading specific workstreams and helping direct junior resources.

The Principal develops rigorous and independent insights into the ongoing performance of BCI’s large direct investments. These insights would be advanced toward action through an ability to build highly collaborative relationships with a range of stakeholders including deal team leaders, investee company executives and Board members, and market participants. Above all else, the Principal brings a long-term value investing mindset with excellent interpersonal and communication skills.

QUALIFICATIONS

• Minimum 6-8 years of experience in investment management (with a preference for institutional investment experience with an infrastructure focus), transaction advisory, investment banking, or corporate development
• Excellent interpersonal skills: i.e., a proven ability to build lasting trust-based relationships with a wide variety of stakeholders
• Personal drive: i.e., a track record of taking initiative to maximize impact
• Demonstrated investment acumen through transaction and/or asset management experience
• Excellent communication skills, clarity and concision in writing and speaking, driven by structured thinking
• Strategic thinking: i.e., the ability to build the ‘big picture’ from an understanding of elementary business drivers, and strong critical thinking to allow them to succeed within ambiguity
• Cultural fit; i.e., a low ego, approaches long term challenges with patience and humility, prioritizing knowledge and consultation
• Strong organizational skills

PRIMARY RESPONSIBILITIES

Investment Sourcing, Analysis and Execution

• Lead the preliminary analysis of investment opportunities, reviews transaction information, meets with management teams and develops valuation frameworks
• Develop investment thesis and identifies merits, risks and mitigating factors for potential investment opportunities
• Coordinate and complete most due diligence sections with minimal guidance and advanced sections with guidance. Take a structured approach with appropriate level of analysis in various workstreams of due diligence
• Lead or take an active role in reviewing and challenging financial projections
• Synthesize findings, key analysis and supporting documents in an organized and documented manner
• Write effective screening, deal alert and investment memorandums, and coordinates the internal review/approval process
• Manage interactions and engagements with third party advisors as well as with BCI internal groups (e.g., legal/tax/risk)
• Work as an integrated part of deal teams, supporting the diligence of commercial, financial, tax, legal, governance, human resource, and ESG aspects of prospective investments

Portfolio Company Management

• Support BCI board members on portfolio companies, while sitting as an alternate director or observer
• Ensure appropriate governance structures and processes are in place at portfolio companies
• Evaluate and help develop strategies, investment recommendations, budgets, and compensation schemes, as well as addressing other key issues confronting Board and management teams
• Support Boards with analysis of industry and company specific issues, focusing on findings that are material to long-term value and actionable by management in a pragmatic way
• Size and prioritize strategic initiatives, and support their pursuit directly with management and through external advisors

Guidance and Mentorship of Junior Employees

• Works to lead junior teams in both investment sourcing, analysis and execution as well as portfolio company management
• Provides management, coaching, mentorship and direction to junior employees
• Demonstrates a culture of integrity, collaboration, risk assessment, transparency, critical thinking, and inclusion

SALARY RANGE

BCI offers a competitive total rewards package which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan and paid time off.

The annualized base salary range for this Victoria-based role is CAD $126,000 to $155,000.

The base salary offered to the successful candidate will consider a wide array of factors including but not limited to the individual’s skill set, level of experience applicable to the role they are being offered and consideration to internal equity.

We pay our people competitively in the markets in which we compete for talent and with consideration to internal equity and job structure. We aim for actual pay to be around the median of the market for target or expected levels of performance, and around the upper quartile of the market for excellent performance.

Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise.

Closing Date: December 6, 2023

At BCI, we value diversity and believe in fostering an inclusive culture where all employees can be successful.

We are performance and client focused and value integrity; if you share these values, we want to know you.

We recognize that some skills can be learned on the job and encourage all to apply.

If you require an accommodation for the recruitment process (including alternate formats of materials, accessible meeting rooms or other accommodations), please let us know. We would like to hear from you!