Portfolio Director, Acumen’s Hardest-to-Reach Impact Debt Fund

Acumen’s Hardest to Reach Impact Debt Fund is looking for a Portfolio Director based in Nairobi to help manage post-investment support to early-stage investments in the off grid solar sector in Sub-Saharan Africa as part of our Key Strategic Initiative “Hardest to Reach.” This role will report to the Managing Director. 

About Acumen
Acumen is a global force of entrepreneurs, investors, philanthropists, and social innovators working together to build a world based on dignity. We were founded by Jacqueline Novogratz on the radical idea that business, when cultivated with moral imagination, can break the cycle of poverty. We invest in transformational companies, build sustainable markets, and prepare leaders with the tools they need to create a more just and inclusive future. Since 2001, we have scaled companies and shaped markets in some of the hardest-to-reach communities on the planet, impacting over half-a-billion lives.

About the context
Of the approximately 789 million people in the world who currently live without electricity, many will gain access through grid extension and off-grid solar by 2030. But estimates suggest that roughly 215 million people will be left behind because they live in risky or remote areas where investors are unable or unwilling to go. In the last decade, there has been a steady increase in financing available for clean, renewable energy, but that money is largely directed towards wealthier nations. Even when investment dollars are directed to low-income regions, they are not always directed where the need is greatest.

About Hardest-to-Reach

H2R’s is working to bring clean energy to some of the “hardest to reach” countries in Africa. We will bolster markets and provide capital to off-grid companies enabling clean energy access via two vehicles: the Market Support Facility (Hardest to Reach philanthropic vehicle) and the Market Expansion Facility (Hardest to Reach Impact Debt Fund).

About the role
The Portfolio Director will be responsible for running the Portfolio Management team, working closely with the Investment team to ensure a seamless transition for transactions from pipeline to portfolio, high-quality portfolio management and administration, and appropriate intervention if transactions are showing warning signs. The Portfolio Director will also need to work closely with the Risk Director as part of the risk monitoring workstream and provide support on resolving stressed asset situations.

The main responsibilities will include

Portfolio Management

• Build a culture of proactive risk management, underpinned by a low tolerance for the creation of provisions.
• Ensure individual asset management/review is undertaken at least quarterly and that each asset has a rigorous and thorough annual review to assess credit risk quality, namely financial performance, financial covenant compliance, and environmental and social objectives. Identify potential issues within the portfolio and take pre-emptive action to ensure that asset quality does not deteriorate.
• Own the Early Warning List and Watch List, ensuring that appropriate monitoring and controls are in place for assets placed on these lists.
• Deliver reporting to ensure that all stakeholders are provided with timely and accurate information on the portfolio.
• Ensure that the appropriate internal processes are followed for all decisions requiring Investment Committee approval.
• Work with the Risk Director to review and enhance the portfolio management function, including strategic planning and directing operations, to ensure a proactive risk management culture.

Customer Relationship Management

• Monitor the performance of the fund transactions against various covenants, including financial performance and environmental and social objectives.
• Work with the finance team to ensure collection of unpaid fees with obligor middle/senior management.
• Ongoing interaction with various project stakeholders, predominantly obligor and beneficiary management teams as well as co-investors (including commercial banks and DFIs).
• Oversee handling waivers and amendments to facilities.
• Undertake all necessary obligor and project visits; ideally at least twice a year.

Stakeholder Management

• Foster a culture of collaboration between the Investment and Portfolio team.
• Support the Investment team in bringing opportunities to financial close.
• Review asset portfolio reporting, produced by the Operations team, and ensure “one version of the truth” is being delivered to all stakeholders.
• Present to the Investment Committees on the on-going and projected performance of the Fund’s portfolio and individual projects.

Leadership and team management

• Lead and manage the Portfolio Management Team, including recruiting new staff in line with the business plan and ensuring well-thought-out development plans for all team members. Oversee the handling of waivers and amendments to facilities by the Portfolio Managers. Coach and develop individual Portfolio Management team members.
• Manage the team as appropriate, including regular 1:1s and appraisals for the Portfolio Managers, instilling a culture of continuous improvement within the team.
• Work with the Investment Team to ensure appropriate allocation of the Analyst pool to portfolio projects.
• Develop a training plan for the Analyst pool to ensure that they have the skills and knowledge to perform their roles effectively, as well as the ability to develop their careers within the organisation.
• Instill a culture of timely, effective risk-based reporting with attention to detail, ensuring “one version of the truth” is applied to all team data.

Skills & Qualifications 

The ideal candidate will have worked in a major financial institution, accountancy firm, financial advisory firm, Debt Fund, ideally focused on SME’s financing, Off-Grid solar sector, Energy-access companies for at least 5 years, preferably including a focus on frontier markets. He/she will have experience of conducting due diligence on complex cash flow based financings and preferably can demonstrate some experience of working with various sources of risk mitigation

Technical Skills & Qualifications

• A bachelor's degree in a finance related field. 
• Minimum of 10 years of transactional experience in venture debt or private credit funds in emerging markets
• Management of a small developing team.
• Evidence of ability to deal proactively with issues.
• Expertise in the management of receivable based transaction.
• Strong corporate credit risk skills.
• Good knowledge of transaction legal documentation.
• Track record of delivering a strong client focused service.
• Knowledge and experience of restructuring problem assets.
• Familiarity of issues relating to distributors financing in Emerging and Frontier Markets.
• Evidence of enhancing value of portfolio assets.
• Ability to demonstrate understanding of lending and fixed income products
• Solid understanding of frontier markets (ideally in Africa).

Personal Attributes

• Self-starter, able to collaborate closely with colleagues.
• Organized and able to manage competing priorities.
• Entrepreneurial, but with a strong ethical foundation.
• Resilient, not put off by setbacks.
• Proactive and solutions-orientated
• Demonstrable cultural awareness – ideally experience of working in an international environment.
• Passion to make a difference in frontier markets.
• Ability to get up to speed quickly in a technical area of work, and to understand and navigate complex issues.
• High integrity, strong ethical principles and ability to command respect at all levels.
• Commitment to good governance and ethical business practices. Acumen has a zero-tolerance policy on corrupt business practices. We expect careful diligence and to engage in governance.
• Self-reflective and aligned with Acumen values.
• Must be authorized to work in Kenya. Available to work in Nairobi.
• Willingness to travel extensively and to be committed to achieving the company objectives.

How to Apply

Valuing diversity is essential to our work. We aim to act in accordance with and promote equality legislation by avoiding unjustified discrimination and recognizing discrimination as a barrier to equality of opportunity, inclusion and human rights.

Applications will be accepted and reviewed on a rolling basis through 27th June 2025.

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