Deputy Portfolio Manager, Real Estate

Local Pensions Partnerships Ltd – Deputy Portfolio Manager (Real Estate)

Summary of role and how it links to the LPPI purpose

We deliver first class, value for money investment outcomes aligned to our clients’ interests. We bring our expertise and spirit of collaboration together to help our clients invest sustainably in better futures.

Deputy Portfolio Manager, Real Estate (“DPM”) is critical in supporting the delivery of first class, value for money investment outcomes aligned to LPPI clients’ interests. The DPM is responsible for providing senior support and backup to the Investment Director in fulfilling their responsibilities within the real estate asset class. Will take a lead role on aspects of ongoing portfolio construction, strategy planning and oversight. The DPM is expected to contribute to the full investment life cycle for real estate. This includes sourcing, making investment recommendations and leading on the analysis and underwriting of potential opportunities and presenting them for approval. Post investment, the DPM will be responsible for monitoring investments, maintaining manager relationships and updating recommendations as required.

Strong cross-functional/business collaboration skills are required as the candidate will work across with multiple teams within LPPI. Also important is the ability to: synthesize large amounts of information into crisp conclusions; present and defend advice to a variety of audiences; manage multiple projects simultaneously and drive them to completion effectively.

Key Responsibilities

Include business as usual deliverables e.g. systems and processes (including documentation), strategic priorities, specific approval authorities, team management, compliance with relevant regulation and financial control.

• Support the Investment Director in developing the real estate strategy for the Investment Pooling Vehicle (‘’IPV’’), including input into portfolio construction and asset mix. Working in conjunction with senior colleagues in the Real Estate team and external partners and managers; Local Pensions Partnership Investments Ltd Registered Office: First Floor, 1 Finsbury Avenue, London, EC2M 2PF
• Provide appropriate support and challenge to the Investment Director on all Investment Committee proposals for new real estate investments in line with LPPI’s due diligence policy and procedures;
• Responsible for sourcing and underwriting real estate opportunities suitable for the IPV and for their ongoing management and review;
• Ensuring that the IPV investment monitoring activities are performed to a high standard;
• Contribute to annual reviews of the IPV guidelines/policies, taking into account the client’s objectives;
• Mentoring and supporting junior members of the real estate team;
• Maintaining knowledge of the real estate universe and networks, includes attending relevant conferences and events, as well as attending advisory committees, meetings and site visits;
• Supporting underwriting, investment decisions and monitoring as appropriate relating to real estate covering other LPPI managed vehicles investing such as 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

Where relevant, please include the following standard Management Responsibilities

• Design, implement and evolve a team organisation structure that is fit for purpose to deliver the relevant business priorities. Identify the capabilities required for each role and whether the role falls under the Senior Manager and Certification Regime.
• Build and maintain the right capabilities in the team through a combination of internal talent moves/promotions and external recruitment, actively seeking out the value that diversity brings in all its forms.
• Provide clarity on team objectives and respective individual accountabilities across the team. Ensure each person has a current and accurate job description and that processes are appropriately documented.
• Actively coach and inspire, listening with curiosity and building an inclusive environment. Create a culture of giving and receiving timely feedback across the team.
• Sponsor LPPI’s employee engagement and wellbeing programme within own team.
• Role model the LPPI values and associated behaviours and demand the same of the team. Identify positive and negative behaviours and set clear expectations around conduct. Have the courageous conversations.
• Engage in manager-led people processes, invest time in individual conversations and complete deliverables within set timeframes.
• Invest time in learning and development including pathways to promotion and role model via self-learning and completion of mandatory learning.
• Recognise and reward high performance and differentiate in line with the performance management framework. Address performance gaps in a timely and decisive manner.
• Senior managers within LPPI are also expected to contribute to the broader leadership of the firm outside of their immediate team e.g. championing firm-wide initiatives, seeking out and giving feedback to peers, coaching and supporting talent and taking shared accountability for the strategic priorities.

Additional Responsibilities as a Conduct Rules person as defined under the Senior Manager and Certification Regime:

• Adhere to the five Individual Conduct Rules as defined in the FCA Handbook at all times and raise immediately any potential issues that could compromise the same with their manager.

Experience and skillset required

Specific capabilities and experience required for role at this level of the organisation

• Demonstrable experience in sourcing, underwriting and managing real estate investments
• MRICS Chartered Surveyor, is required CFA and/or CAIA a plus
• An understanding of the real estate fundamentals and the technical aspects of real estate investing is a must. Experience of evaluating fund managers and or co-investments is a positive.
• Experience of making real estate investment recommendations and involvement in portfolio management and decision-making a positive
• 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;
• Ability to 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