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Director of Investments

Website Sarona Asset Management

Asset Manager

Sarona Asset Management (“Sarona”) is a leading impact investment firm for Emerging Markets, investing in private companies across Asia, Africa, Latin America and Emerging Europe. Sarona is committed to delivering strong financial returns and creating deep and lasting impact. The firm is based in Kitchener, Canada, with offices in Singapore, Luxembourg, and Manila.

We are a small, entrepreneurial firm, where every person’s contribution determines our future. We now need a full-time Director of Investments to join our team in Singapore and manage the implementation of Sarona’s investment strategies for its clients, including the Australian Development Investments (ADI) described below. This person will report to the Head of Investments. We are looking for a person with the following strengths: goal-oriented, entrepreneurial, intentional, strategic, empathetic, organized, collaborative and a good communicator. 

Sarona is an equal opportunity employer. We value a team comprising individuals of different race, religion, sex, sexual orientation, gender identity, national origin, age, disability, and indigenous status. We believe in equal access to employment opportunities.

Sarona has been awarded a 13-year mandate from DFAT, Australia’s Department of Foreign Affairs and Trade, to manage the ADI – Australia’s AUD250 million impact investment fund. ADI builds on the successful Emerging Markets Impact Investment Fund (EMIIF) pilot and seeks to expand the Australian Government’s capacity to mobilise private sector investment for small and medium enterprises in the Indo-Pacific region to drive climate and gender outcomes. ADI provides early stage and concessional investment and technical assistance to impact investment funds including venture and early-stage capital funds, private debt funds, private equity funds, and Non-Bank Financial Institutions. These funds, in turn, give critical early-stage finance to businesses in the Indo-Pacific. This finance helps these businesses to innovate, grow their employment, and deliver goods and services to their communities. By blending Official Development Assistance (ODA) and private finance, ADI sends a powerful signal to the finance sector about the opportunities to generate financial returns and development impact in the region. The Target Countries of ADI are Bangladesh, Cambodia, Fiji, Indonesia, Laos, Malaysia, Myanmar, Papua New Guinea, the Philippines, Sri Lanka, Thailand, and Vietnam (Target Countries).

The Director of Investments will primarily lead the sourcing, due diligence, and monitoring of ADI climate- and gender-lens fund investments. We are looking for a person who has a strong track record investing in funds in the Target Countries, and who shares our core beliefs that applying ethical, social, and environmental values to each investment decision builds a better world for current and future generations. We further believe that such values help generate strong financial returns.

Accountabilities and responsibilities

  • Investments and Portfolio monitoring
  • Impact Mandates:
  • Originate and conduct due diligence of investment opportunities for ADI;
  • Prepare investment proposals for primary fund investments (and less frequently non-bank financial institutions) and present them to Sarona senior management and the ADI independent investment committee;
  • Structure and close investments approved by the ADI investment committee;
  • Monitor investments in the ADI portfolio on an ongoing basis, adding value to those investments, and drafting synopses for management and investor reporting;
  • Oversee the monthly, quarterly, and annual client reporting;
  • Exit investments; and
  • Liaise and collaborate with Sarona’s Director of Impact and external technical assistance providers, engaged in the delivery of technical assistance to ADI investees (both funds and underlying businesses).
  • Commercial Mandates: Sarona manages commercial private equity mandates. While a separate team is responsible for those, the Investment Director will contribute as follows:Actively participate in pipeline meetings and internal investment committee discussions;
  • Perform peer review on investment proposals; and
  • Monitor funds based in the Target Countries.
  • Relationship management with DFAT
  • Regularly liaise with the DFAT Secretariat, based in Canberra as well as country- and program-based stakeholders of ADI (e.g., Australia High Commission in Indonesia and Vietnam, Investing in Women program, etc.).
  • Assist the Sarona impact team with regular impact reporting to DFAT; and
  • Prepare periodic lessons learned reports to support DFAT’s experience with ADI.
  • Team management
  • The Director will be a member of a growing team, consisting of investment and impact professionals. Due to ADI’s growth, several new people will be hired in 2024.
  • The Director will be responsible for setting annual goals in collaboration with their reports that are in line with Sarona’s three-year strategic plan and the impact investment team’s annual work plan.
  • The Director will work collaboratively with the Head of Investments and other Directors on investment processes and coaching team members.
  • Other
  • Collaborate with other Sarona teams on specific, ad hoc projects.

Our values

  • Excellence & Creativity: these stand in conflict with each other; both are important
  • Honesty & Integrity: these are almost the same; they can’t be compromised
  • Kindness & Respect: life is short; we want to enjoy working together; we seek to encourage the best from each other 

Required qualifications

The successful candidate will have/be:

  • 10+ years of relevant work experience in private markets preferably at an institutional asset manager, development finance institution or an impact investment firm;
  • A minimum 5 years of experience in primary fund investments;
  • Transactional experience in climate funds a strong plus;
  • Understanding of climate finance terminology, trends, and regulatory environment in the Target Countries;
  • Transactional experience in the Target Countries;
  • Strong understanding of impact investing terminology and track record in investing by applying an ESG and an impact lens;
  • Experience / exposure to gender equality / gender lens investing principles and practices;
  • Proactive problem-solver, fast learner, and self-starter; strong organization and planning skills;
  • Well-organised and able to work in a systematic long-term manner;
  • Committed to quality and excellence; details matter to you; and
  • Excellent in English communication.

Application Deadline: December 15, 2023

Expected travel:            Frequent (<50%)

Desired Start Date March 1, 2024