UK development institution CDC Group is on the hunt for an investment director to oversee its food and agriculture division.
The search comes at a time when the entity is extending the range of its activities to include direct equity investing and direct lending alongside its fund selection business.
Wholly owned by the UK’s Department for International Development (DFID), CDC invests in businesses in Africa and South Asia to create jobs in some of the world’s poorest places.
According to hiring information found on CDC’s website, the new hire is expected to develop and implement strategies for CDC’s private equity investments in the food-processing, agribusiness and agri-inputs sectors across Africa and South Asia. CDC has hired Korn Ferry, a global search and recruiting firm, to help with the recruitment process.
Currently invested in over 1,300 companies in 74 countries, CDC has recently received a significant capital injection of £735 million ($1.13 billion, EURO AMOUNT) from DFID. “The new investment will allow CDC to invest on a greater scale in job-creating sectors such as agribusiness, infrastructure, financial institutions and construction,” according to the job description.
CDC in June launched an environment, social and governance (ESG) toolkit for fund managers including a sector profile on agriculture and aquaculture. In an interview with Agri Investor at Private Equity International’s Responsible Investment Forum in July, where the toolkit was announced, partners from law firm King Wood & Mallesons said “it is a comprehensive resource for any firm which wishes to refresh its approach to ESG risks in its portfolio—and not just for those who invest in emerging markets.”
Earlier this year, CDC committed $15 million to Miro Forestry, a West Africa-focused timber investment company, investing alongside Finnish DFI Finnfund.
According to PEI database, CDC Group currently has £3.37 billion in assets under management and has committed £1.43 billion in capital to 164 funds since its inception in 1948. All capital is invested in alternatives.