Fund Management Investment Intern

About Low Carbon

Low Carbon is a purpose driven company that creates large-scale renewable energy in the global fight against climate change. Our mission is to protect the planet for future generations while delivering positive returns for our communities and investors. Our goal is to produce as much new renewable energy as possible while limiting our own environmental impact. We do this by developing, investing in, and operating large-scale renewable energy projects across the globe.

Our partnership with the Massachusetts Mutual Life Insurance Company (MassMutual) is enabling us to accelerate the deployment of large-scale renewable energy and underpins our ambition to transform the global energy sector from fossil fuels to zero carbon.

All of us at Low Carbon know that trust is a vital component of the climate fight. We are a long-standing certified B-Corporation, a reflection of our fundamental ethos to balance the needs of the environment and society with our bottom line.

We are extremely proud of the highly professional and talented team at Low Carbon.  We have built a positive learning culture that incorporates respect, trust, collaboration, and a shared passion to combat climate change.  It is an open, friendly and supportive environment, and we are proud to say we work here. As we grow, we are committed to increasing diversity in the team, and continuing to foster an inclusive environment where we can learn from each other.

The Fund Management Team

Low Carbon is looking to appoint an Associate Intern within the Fund Management team who will report directly to an Investment Manager, and support the wider team. Low Carbon Investment Management is an FCA accredited manager that makes investments into late-stage renewables assets on behalf of third parties. LCIM is currently raising its first fund – Low Carbon Renewables Fund (“LCRF”) – with a target size €500m, first close targeted in 1H 2024 and over 1GW of seed assets secured.

The internship will last 3 months, ideally starting in Spring.

Key Responsibilities

Support the execution of new investment transactions (Primary responsibilities)

• Develop an understanding of the investment criteria of LCIM fund mandates
• Lead country and renewable technology sector research activities and feed this into MD, ID and IM investment sourcing activities
• Support IMs, IDs and MDs in the analysis and evaluation of new investment opportunities, including financial analysis, risk and counterparty analysis, relevant industry research:
  • Build and modify financial models for investment opportunities, including complex operational, investment structuring and debt financing structures
  • Prepare investment committee papers supporting new investments, new projects or other material investment decisions
  • Project manage due diligence workstreams, assist IMs and IDs to critically review the work of third-party advisors
  • Contribute to the review of transaction documentation and transaction funding
• Contribute to the sourcing of new investment opportunities

Monitor the performance of portfolio investments (secondary responsibilities)

• Lead the preparation of internal and investor reporting and valuation for portfolio investments, including ownership of investment model
• Collect and review financial and other information from portfolio companies in order to monitor progress
• Liaise with portfolio companies on ongoing corporate actions, collection of fees and dividends, redemptions etc.

Desired Outcomes

• Quickly develop an understanding of the LCIM strategy and its investment criteria, including performance metrics, sectoral and geographic focus
• Build strong internal relationships and become a key part of the team
• Begin to assist IMs, IDs and MDs in analysing investment opportunities and supporting fund raising activities
• Support IMs, IDs and MDs in analysing and presenting investment opportunities to Investment Committee

The Candidate

Our ideal candidate will have the following characteristics:

• A strong analytical tool kit (qualitative and quantitative) with strong conceptual thinking and problem-solving skills
• Experience in financial modelling & managing DD processes
• Be driven, dynamic, forward thinking, innovative and agile; and be comfortable working in a fast paced, adaptable environment
• Based in the UK, happy, willing & able to travel to the LCIM target geographies and comfortable operating within those cultures
• A personal interest and understanding of renewables and climate change coupled with a deep appreciation for investing

Professional Skills & Experience Required

• Advanced knowledge of MS Excel, Word and PowerPoint. Experience in building cashflow models including complex project financing and investment structures and advanced valuation concepts
• Experience in corporate finance advisory, investment management, investment banking or strategy consultancy (Preferably investment bank or boutique investment banks)
• Experience in buyside M&A / energy / infrastructure would be highly regarded

Our Compensation and Benefits

• Competitive salary
• 26 days holiday + your birthday off (pro-rata for the duration of your internship)
• Lots of office social events
• Working in newly fit-out offices in Central London
• Get to work with an experienced, talented team of renewable energy professionals
• Be a part of a dynamic, entrepreneurial mission driven culture
• Make your unique contribution to the fight against climate change