Job Title: Investment Associate
Reporting to: Investment Director
Location: New York or Los Angeles
Business Division: Greenfield & PPP / North America
About John Laing:
John Laing Group (JLG) is a leading international investor across a range of infrastructure sectors. We are a responsible investor, committed to delivering critical and enduring infrastructure which responds to public needs and improves the lives of the communities we serve.
Today the Group has investments and operations in seven countries, and employs over 150 people at offices in London, Schiphol, Melbourne, Sydney, New York, Los Angeles and Bogota. We invest in greenfield projects and in businesses which develop and own infrastructure assets. We are FTSE 250 listed with a Net Asset Value of £1.5 billion as at 31 December 2020 and a market capitalisation of £1.6 billion.
John Laing is one of the world’s most trusted names in greenfield infrastructure. During our long history, we have invested in over 150 projects, and as a result have developed strong credentials and a network of valuable relationships with both construction partners and clients. At its core, John Laing creates value through sourcing primary investments, active asset management and realising secondary assets for value. Our greenfield heritage, active asset management expertise, international footprint and partner relationships are key differentiators. These competitive strengths underpin a consistently strong investment track record in PPP projects, particularly in the transport and social infrastructure sectors. Since IPO, we have realised assets at an average multiple of cash invested of over three times.
The Group’s history has been one of constant evolution and growth, and this remains the case today. The fundamental drivers of infrastructure investment are stronger than ever – population growth, climate change, energy transition, urbanisation and the ever-increasing need for digital connectivity. Following the appointment of Ben Loomes as Chief Executive in May 2020, the Group launched a new strategy aimed at evolving John Laing into a leading international investment platform and manager of balance sheet and third-party capital across a range of infrastructure sectors.
We plan to build John Laing into a broader infrastructure investment platform with complementary investment businesses; a strong Greenfield PPP & Projects business, with a second engine for growth in mid-market Core-plus infrastructure. Over time, there is also a clear opportunity to build a third-party capital business alongside investing our own balance sheet. Our strategy seeks to build on our strengths and ensure we are well-positioned to capitalise on structurally favourable end markets. This is an exciting time to join a business that makes a real difference to society as it embarks on the next stage of its growth and evolution.
To create value for all our stakeholders by investing in, developing and managing infrastructure projects which respond to public needs, foster sustainable growth and improve the lives of communities around the world.
Ownership: We take personal and collective responsibility for our contributions to the business, reflecting the ethics, inclusivity and integrity of our purpose.
Empowerment: We trust our colleagues to do their best work for our business, wherever they are, giving them the tools, skills and support they need in order to do their best and reach their full potential.
Growth Mindset: We are open minded and alive to learning new things and spotting new opportunities. We’re continually looking for ways to improve, so that we develop as individuals and contribute to the growth of our business and communities in which we work.
Shared Prosperity: We believe that our success can only come from collective results, where outcomes are aligned and benefits are realised for all stakeholders.
The Role: Investment Associate
In this role, you would be part of the Primary Investments team, within the Greenfield and PPP business division, within North America.
Purpose of the role:
To work as part of the North American team, contributing to the growth of the business by taking a leading transactional role in John Laing’s involvement during the bidding, financial close and valuation process.
John Laing’s representative involved in all financial aspects of project development through to financial close
Take primary responsibility for financial modelling and investment analysis of investment opportunities
Take responsibility for negotiations with counterparties (including financing parties) and with co-investors
Fully understand the financial risks on the project and control the transfer of those risks, working with the commercial, financial and operational team to deliver viable projects
Prepare and update live project financial models as part of the half-year and year-end valuation process
Prepare the necessary project papers and manage bids through sign-off and approval by the Investment Committee and JL plc Board
Liaise with Sponsors to understand and agree financial and commercial positions and ensure these are properly reflected in the negotiations
Keep up to date with current market trends, including any established market practices and/or published guidance
Knowledge, Skills & Qualification Required:
Relevant degree or equivalent
A financial, legal or construction related qualification would be an advantage
Membership of a relevant professional institution would be an advantage
Proven Financial Modelling skills
Strong communication and interpersonal skills - credible in dealing with end-user client, their legal team and other consortia partners
Ability to work under pressure and to deadlines
A hands-on and pragmatic approach / flexible
Strong written communication / report writing skills
Ability to “think outside the box” and implement the resultant solution
Ability to work independently and in a team
Commitment to ongoing learning and development
MS Office skills / IT literate
Beneficial Experience (not required):
· Outstanding Financial Modelling skills and 2 to 3 years’ transactional experience, ideally with a financial institution
· Relevant experience – P3 experience highly desirable
· Experience of negotiating and finalising key financing agreements
· Experienced in the negotiation and closure of long term complex P3
Perks & Benefits:
· Private medical care
· Private dental care
· 401k contributions (Workplace pension)
· Charity related projects
· Women’s Network Club
· Flexible working
· Wellbeing allowance
· Holiday Purchase
· Healthcare Savings Account (HSA)
· Flexible Savings/Spending Account (FSA)
· Group Life Assurance
· Group Income Protection
· Vision plan (Eyecare)
· And many more…
More about us:
We are an equal opportunities employer. At John Laing, we value the unique skills, experiences and backgrounds of every employee, and have a wide range of D&I initiatives across the organisation. We make recruiting decisions based on your experience and skills. We welcome applications from all members of society irrespective of age, sex, disability, sexual orientation, race, religion or belief.