Fund Associate - Real Estate Income (Long Lease Property)
The Real Estate Income business at M&G is responsible for the management of M&G's long lease property investment activities on behalf of both the Prudential and external institutional clients. It currently has over £6.5 billion of assets under management and the flagship product of the business is the M&G Secured Property Income Fund with assets of £3.6 billion, currently the largest pooled institutional real estate Fund in the UK. The Fund invests across all sectors of the market including hotels, healthcare, residential, student accommodation and leisure in additional to office, retail and industrial assets. Other key strategies include the M&G European Secured Property Income Fund and real estate based inflation-linked income and fixed income credit arbitrage transactions. These strategies are delivered in partnership between M&G's Fixed Income and Real Estate divisions.
Clients have allocated significant further capital commitments across our strategies which they are looking to be deployed into high quality commercial real estate with long term leases to strong blue chip tenants or secured through appropriate transaction structuring. Our strategies invest in properties with leases providing fixed or inflation-linked rental increases to deliver long term and rising income streams, with the potential for long term capital growth. Our clients are primarily pension funds and insurance companies.
Given the substantial recent growth in assets under management, significant investment inflows being received and the excellent longer term AUM growth potential of the business, we are looking to recruit a Fund Associate to supplement the transaction underwriting and fund, client and commercial management capabilities of the existing team. This is an excellent opportunity to join a highly successful buy-side fund management team, working closely with the relevant Fund Managers, other existing team members and key internal and external stakeholders.
* Analysis/underwriting of suitable new investment opportunities and making purchase recommendations to the relevant Fund Manager
* Assist in the preparation of investment committee papers and appropriate deal analytics
* Assist in the written and face to face marketing and investor communication of the funds
* Assist in the active portfolio management of existing properties, in particular monitoring the trading performance of operating assets in alternative sectors - make sell/hold recommendations and consider potential asset management opportunities
* Monitor and ensure compliance with the policies and investment restrictions of the respective funds
* Assist in the provision of timely, accurate and appropriate investor, consultant, compliance/regulatory and internal reporting
* Assisting with capital management (capital queue management, debt and investor capital commitment drawdowns, payments, reporting etc.)
* Develop and maintain strong relationships with key internal stakeholders and external service partners, including: investment surveyors, credit analysts, institutional distribution, business management team and Fund administrators.
What we are looking for
This role will be suitable for someone who has an interest in all aspects of fund management: deal analysis, managing a diverse portfolio of high quality long lease real estate assets and dealing directly with a sophisticated institutional investor base and their advisers. It is recognised that candidates are unlikely to have specific experience in long lease property.
A general understanding of, and interest in, real estate fund management and experience in credit analysis would be ideal but the absence of this will not exclude an otherwise well-qualified candidate.
* Good analytical skills, highly numerate and strong attention to detail
* Self-starter - ability to work independently and use initiative
* Collaborative - ability to work across different business units
* Excellent oral and written communication skills
* Ability to prioritise, meet deadlines and work under pressure
* Strong problem-solving skills
* Good level of proficiency in Excel and sound financial modelling skills
* Likely to have a high quality degree
* Extensive experience in a financial services environment, preferably in one or more of the following: fund management, private equity, corporate/structured finance, real estate investment etc.
* Flexible approach to role and responsibilities.
* Solid understanding of real estate and fixed income investment but prior experience not necessary
* Knowledge of credit analysis and ratings
* Understanding of and strong interest in the UK and continental European property markets
* Understanding of decision-making of pension funds and pension fund consultants and the reporting requirements of institutional investors
* Completed or working towards CFA or other accredited professional qualification (IMC, RICS, ACCA, CIMA etc.).
M&G is committed to a diverse and inclusive workplace. Our role as an employer is very simple - to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.