About LPPI (-%About LPPI)

One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.

We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said – our people, flexibility and collaboration.

If you would like to join a company that is inclusive and forward-thinking, please read on.

Role Purpose (-%Role purpose)

LPPI’s stewardship operating model places principal responsibility for stewardship on Portfolio Managers and the respective asset class teams. LPPI’s stewardship approach (processes, activities and their outcomes) face considerable scrutiny due to expanding regulation and increasing expectations from clients and the wider market. Remaining well positioned in this context and efficiently meeting industry standards (TCFD, UK Stewardship Code, PRI, and LPPI’s net zero commitment) demands strong stewardship logistics.

Building internal capacity within asset class teams for planning, conducting and evidencing active stewardship requires subject matter expertise (SME) in stewardship (specifically post investment analysis planning and execution) and stewardship systems (coherent data management, proportionate record keeping, and efficient reporting).

Partner with the Responsible Investment and asset class teams to support LPPI’s continuing evolution as an active steward of client capital. This means they will be responsible for providing expert advice to asset class teams, supporting engagement activity as appropriate and directly helping to build resilient internal systems, exercise contextual pragmatism, and anticipate future demands when operationalising stewardship routines/standards.

Key Responsibilities (-%Key responsibilities)

• Develop a strong collaborative working relationship with the Responsible Investment Team, both to understand corporate objectives/requirements, interpret broader market trends and share synergies in their translation into LPPI and asset class contexts.
• Confidence of asset class teams, through professional knowledge (SME), hands on support, and skills transfer through coaching (building internal capacity, confidence and capabilities within asset class teams).
• Helping asset class teams define/refine IPV-centric approaches to corporate policies, procedures and practice standards for stewardship (implement systematic ESG integration, identify significant and emerging risks, prioritise material engagement topics, produce and execute an annual engagement plan, set stewardship objectives, plan stewardship activity, monitor progress, track/measure outcomes).
• Advise on, help to implement, and have general oversight of systems for collecting/ collating *extra-financial data sourced directly by asset class teams for stewardship purposes (whether from investee companies, delegate asset managers or elsewhere).
• Ensure locally sourced information is populated into corporate data platforms which enable consistent organisation-wide use, liaising with system/platform owners and technical staff as required.
• Contribute to corporate initiatives which aim to improve the scope, facility, efficiency, and ease of use of data platforms and the effectiveness of stewardship processes.
• Provide direct support for solving stewardship data needs, including factor/thematic (e.g. climate change) and specific (e.g. LPPI’s net zero commitment) working collaboratively with lead colleagues (Responsible Investment, Enterprise Risk, Investment Risk, Compliance etc) to catalyse cohesive corporate solutions.
• Support the interpretation and analysis of extra-financial data and its use within stewardship planning/execution, helping to build capacity confidence and experience within asset class teams
• Foster a consistent approach to recording the stewardship activity undertaken by asset class teams, with record keeping able to support systematic review/analysis/reporting and the operation of LPPI’s internal governance processes
• Partner with FAARRI and LPPI’s 2nd line teams to agree and produce asset class specific information/metrics and have input to portfolio-wide KPIs for the purposes of internal monitoring and external disclosure
• Contribute to LPPI’s reporting on stewardship activity and its outcomes (internally, to clients, and against broader external disclosure standards including TCFD, the UK Stewardship Code and the Principles for Responsible Investment).

*extra-financial means in addition to purely financial data (investment valuation/performance data which is produced/managed centrally). It spans the variety of contextual data types that support evaluation of portfolio sustainability (whether the required level of return will continue into the future) and facilitate analysis, decision-making, prioritisation for focussed asset management activity, and reporting (at individual asset, overall asset class, IPV and portfolio level).

Requirements for the role (-%Requirements for the role)

• Deep and current subject matter expertise in Real Assets (Real Estate and Infrastructure) stewardship (core dimensions and current industry/regulatory trends as they apply to a UK asset management setting
• Relevant prior experience of supporting/facilitating/undertaking active stewardship gained in an equivalent setting or in a setting that provides significant and transferable stewardship experience relevant to the role and responsibilities.
• Familiar/directly conversant with core investment management processes (capital allocation, asset management, engagement, external manager oversight) with meaningful prior experience/hands on responsibility for direct stewardship (delivery) and advising/coaching/building capacity in others.
• Prior experience of overseeing, co-ordinating and directly fulfilling responsibilities for interpreting data requirements, identifying data sources, originating and collating data, and evolving local data systems
• Prior experience of efficient stewardship planning/ activity recording/reporting routines (calibrate and oversee systems and apply/utilise system output within stewardship and reporting).
• Able to engage across teams and relevant committees e.g. asset classes, stewardship and investment committees, responsible investment team, legal, compliance, risk etc.
• Experience of translating corporate stewardship strategy to asset class specific level, facilitating local stewardship strategy development and its practical implementation and oversight.
• Able to provide pragmatic and relevant subject matter expertise to experienced portfolio managers, within the context of collegiate asset class teams.
• Able to provide input to the development of broader LPPI stewardship strategy as an expert partner to portfolio managers/asset class teams, responsible investment team, other corporate process owners aligned to LPPI’s operating model
• Financial and/or sustainability qualifications a positive (e.g. CFA, ESG related certifications)

Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.

About LPPI (-%About LPPI)

One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.

We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said – our people, flexibility and collaboration.

If you would like to join a company that is inclusive and forward-thinking, please read on.

Role Purpose (-%Role purpose)

Portfolio Manager, Infrastructure (“PM”) is responsible for leading the underwriting and monitoring for the indirect funds activities of the LPPI Infrastructure Pooling Vehicle (“IPV”) at Local Pensions Partnership Investments (“LPPI”). The role is responsible for managing client capital committed to the IPV; this includes setting portfolio construction objectives, managing deployment and redemptions, working with direct infrastructure team colleagues and collaborating across the external manager and wider LPPI investment team to meet client requirements. The PM will be accountable for monitoring and reporting on the performance of the IPV, including directs as well as the balance sheet positions held by clients. The PM is tasked with ensuring that client commitments are invested, and the portfolio is managed in accordance with LPPI’s and clients’ strategic objectives, policies and relevant regulations.

Key Responsibilities (-%Key responsibilities)

• Setting strategy and implementation for the IPV, including portfolio construction, mix of funds, co-invest and direct investments (noting that GLIL commitments are treated as direct for these purposes); working in conjunction with senior colleagues;
• Responsible for sourcing and underwriting opportunities in funds and co-investments, making portfolio management recommendations for the IPV
• Ensuring that the IPV investment monitoring activities are performed to a high standard by the team;
• Managing and mentoring the indirect Infrastructure team
• Maintaining knowledge of the universe and networks, includes attending relevant conferences and events for infrastructure sector, as well as attending advisory committees, meetings and site visits;
• Supporting underwriting, investment decisions and monitoring as appropriate relating to indirect infrastructure covering other LPPI managed vehicles such as the Environmental Opportunities Fund (“EOF”) and the London Fund;
• Participate in marketing for both internal and external client activities;
• Working with internal LPPI teams to ensure that the IPV is managed in line with policies, the mandate objectives and restrictions including Responsible Investment commitments

Requirements for the role (-%Requirements for the role)

• Significant experience in sourcing, underwriting and managing infrastructure investments with third party fund managers;
• Significant experience of evaluating fund managers is a must, experience in co-investments a positive.
• Experience of making infrastructure investment recommendations, portfolio management and decision-making experience a positive
• Strong technical knowledge of Infrastructure investment strategies and relevant fund manager universes.
• Capability to deliver and operate within an institutional investment process, applying sound principles and developing improvements where appropriate;
• Highly effective communication, influencing and relationship management skills including personal credibility in delivering strategic information to peers, senior decision makers in LPPI and to relevant committees to facilitate high level decision making;
• The ability to build positive and productive working relationships with a variety of internal and external parties, including investors, advisers and clients;
• Excellent level of numerical, analytical and report writing skills
• A proactive, self-motivated team player who has the ability to handle a workload with multiple deadlines ensuring expectations are managed throughout;
• Advanced people management skills with the ability to lead, mentor and motivate more junior team members.
• Promotes positive behaviour through own actions and attitude with the ability to deliver solutions within a team environment and be a flexible and supportive team player;
• An understanding of the breadth of the diversity agenda including embedding good practice and an understanding of LPPI’s commitment to combating discrimination and promoting equality of opportunity.
• Good conduct that is consistent with the LPPI values- aligned behaviours

Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.