Senior Investment Manager - Infrastructure in London

Nest Invest is on an ambitious journey to become one of the world’s largest asset owners. With c.£60 billion AUM today and taking in over £500m of pension contributions per month, we’re on track to more than double that figure by the end of the decade. This rapid growth brings exciting opportunities and increasing operational complexity. As our portfolio expands, we shall internally manage more of the investment decision making and process, whilst concurrently engaging with a broader range of external partners. As a result, operational excellence becomes more critical than ever. We’re building a capability and culture that embraces innovation, leverages technology, and harnesses the power of data to deliver exceptional outcomes for our members.

The Senior Investment Manager, Infrastructure will be responsible for the long‑term investment strategy, performance, and risk management of Nest’s Infrastructure investments. This includes analysing, monitoring, and evaluating Nest’s current portfolio, at an asset and fund level, from a performance, ESG, operational & reporting and reputational and investment risk perspective, recommending appropriate benchmarks and target returns, understanding macro dynamics and return and risk drivers in this sector/industry, identifying new investment opportunities for further research, and maintaining a network of manager and peer relationships active in this sector. As Nest evolves its governance, this will also include evaluating and modelling new co‑investment opportunities. The role will be a member of the Public and Private Markets team and will at times be expected to contribute to the research, selection and evaluation of other private market mandates and investments. The Senior Investment Manager, Infrastructure will report to and make investment recommendations to the Director of Public and Private Markets, to the Asset Allocation Committee, the Illiquidity Committee, the Valuation Committee and the Executive Investment Committee. The role includes the management of an Investment Manager. The investment results of the infrastructure portfolio are a critical component of Nest’s overall private market portfolio and have a direct impact on Nest Invest meeting its overall objectives.

Key Responsibilities will include:

• Design and plan resources and strategy to deliver Nest’s agreed investment goals in infrastructure.
• Recommend and implement the allocation to sub‑sectors within infrastructure.
• Monitor the performance of existing mandates and their underlying investments and assets, tracking key performance indicators, analysing manager reporting and the underlying company’s financial reports, and preparing regular updates for relevant committees and senior management.
• Manage relationships with fund managers and peers and build Nest’s reputation as a partner.
• Oversee the investment risk profile (core, core+, value add, brownfield and greenfield), sector and country allocations within the infrastructure portfolio and report concentration issues to the Director of Public and Private Markets.
• Review complex financial models provided by partners to evaluate existing investments and co‑investment opportunities, analyse financial statements, calculate key financial metrics, and project future performance.
• Conduct due diligence on potential investment opportunities, including researching industries, markets, competitors, and potential risks to assess the viability of an investment.
• Review asset valuations prepared by managers to provide a sense check on existing Nest exposures.
• Lead the onboarding of new managers, including working with the legal team to finalise documentation, conducting negotiations with managers.
• Conduct market research to identify emerging trends, potential investment opportunities, and competitive landscape in various industries.

The Person

• Extensive experience working in a pension fund investment team, investment banking, asset management, or related fields.
• Ability to review and understand financial models to evaluate potential investments, analyse financial statements, and assess the financial performance of target companies.
• Deep understanding of capital markets and understanding of the valuation methods used to determine the fair value of potential investments such as discounted cash flow (DCF), comparable company analysis, and precedent transactions.
• Proficiency in conducting market research, industry analysis, competitive landscape assessment, and operational evaluation.
• Strong influencing skills and ability to collaborate effectively across a broad set of teams.
• Strong understanding of regulatory environment, risk management, and governance/compliance issues.
• Proficiency in Excel, financial modelling, and data analysis.
• Ability to identify investment risks, including evaluating the downside potential of investments and recommending risk mitigation strategies.
• Experience working in a team‑based environment, collaborating with colleagues from various disciplines such as legal, risk, responsible investment, and fund administration/investment operations.
• Ability to manage diverse high performing teams.
• Experience presenting at industry forums.

Please note: The role holder will need to be approved by the firm (Nest Invest) to hold the Client Dealing Function and Manager of Certified Function under the FCA’s Senior Managers and Certification Regime (SMCR).

Diversity, Equity and Inclusion

Everyone is welcome to apply for our roles and we particularly encourage applications from Black, Asian and minority ethnic candidates, and disabled candidates. We are determined to ensure that no applicant or employee receives less favourable treatment because of their age, belief, disability, marital status, caring responsibilities, socio-economic background, or any other legally protected status. We also recognise the importance of diversity of thought and other forms of neurocognitive variation. As a Level 2 Disability Confident organisation, we’re part of the guaranteed interview scheme. This means that should you meet the minimum criteria for this role, you will automatically be put forward for an interview.