Job Title: Fund Finance Manager (Real Estate Debt)

Location: London, St Pauls

Department Investment Operations

Reporting to: Investment Operations Associate Director

What the Hiring Manager says….

‘You will take a leading role within the Real Estate Fund Finance team, with primary responsibility for fund operations across a portfolio of Real Estate Debt funds. The role is multi-disciplinary, leading workstreams across Fund Control, Fund Accounting and Transaction Execution functions and requiring co-ordination across the business to ensure effective execution of the strategy’s operations.

You will take responsibility for leading deal closings for these funds working with internal and external parties to ensure deadlines are met, operational issues are addressed and stakeholders are informed. You will have consideration for commercial objectives of front office teams while maintaining a strong risk managed approach to acquisitions, disposals and ensuring regulatory and statutory compliance throughout the asset lifecycle across multiple jurisdictions.

You will ensure a robust level of financial control, reviewing the output from third party administrators (“TPAs”), overseeing compliance with all tax and regulatory filings, and recommending and implementing improved processes and controls.

The role offers a significant variety of day-to-day responsibilities which will include supporting portfolio managers and fund marketers, and working closely with TPAs and legal and tax advisors.

To excel, you will have prior experience of operating Private Markets funds and be knowledgeable about deal closing procedures.  We are seeking a proactive and detail-oriented professional with a strong sense of ownership, combining analytical problem-solving skills with the ability to work both independently and collaboratively, while communicating confidently with stakeholders at all levels.’

ICG Real Estate Debt Fund Finance

• Real Estate Debt consists of €2.8bn AUM and forms a cornerstone of ICG’s wider €10bn AUM Real Estate platform.

• Real Estate Debt includes a variety of Funds and Separate Managed Accounts investing across senior, whole, development and residential loan strategies.

• The flagship Real Estate Debt Fund series is currently fundraising its seventh vintage (RED VII) with a target fundraise of €1bn.

• The Real Estate Fund Finance team oversees all areas of fund operations including deal closing and funding, dry powder and liquidity management, fund borrowing and leverage, FX hedging, valuations, drawdowns/distributions, NAV production, fund and deal performance monitoring, investor performance reporting, fund forecasting, carried interest, new fund setup and assisting with fundraising requests.

• Real Estate Fund Finance is a team of 15 (nine in London + six in Pune) of which Real Estate Debt has four dedicated individuals (two in London + two in Pune).

• Co-ordinates closely with SDP Investor Reporting team (two in Warsaw)

• Support and closely collaborate with multiple stakeholders across the business including TPAs, Fund Boards, banking providers, auditors, Client Solutions and Marketing, Portfolio Managers/ Investment team, Treasury, Fund Legal, Tax and ICG plc finance

Primary responsibilities for this role include (but are not limited to):

Transaction Execution

• End-to-end deal execution support for new deals, disposals and refinancings along with internal and external stakeholders. 

• End-to-end financing and back leverage execution support.

• Evaluate operational risks, handoffs, map critical dependencies, and define post-closing requirements

• Administrator onboarding and ongoing relationship management.

• Oversight of TPAs to ensure all banking requirements are in place and new facilities are implemented

• Oversee tax structuring for new investments and fund vehicles, coordinating with internal tax teams and external advisors. 

• Assist with depository led pre and post transaction support, ownership verification and ongoing monitoring

Fund Life Cycle Matters

• Oversee the full lifecycle of fund operations, including capital activity, investor reporting and liquidity management.

• Legal entity formation and Fund and SPV liquidations 

• Managing ICG Co-Invest alongside dedicated internal team.

• Board and entity governance including the coordination of board meetings, signings, director appointments and statutory filings.

Fund Finance

• Lead any financial due diligence processes, coordinating seamlessly with external advisors and internal stakeholders

• Managing and review of funds flow; co-ordinating funding and hedging arrangements with ICG Treasury.

• Working closely with ICG tax team to ensure appropriate implementation and ongoing compliance with advice including cashflows and funding instruments

Reporting and financial appraisal

• Oversee the quarterly financial, investor, and regulatory reporting

• Oversee the annual financial statement production across funds and manage the audit process

• Review and preparation of all investor financial and ad hoc reporting, Fund analysis and dealing with regulatory reporting (AIFMD, Solvency II and other regulations)

• Formally document technical matters and supporting judgements in relation to the complex accounting, including broader fund matters which impact the Fund’s financial records

• Perform ongoing and ad hoc analysis of Fund performance, calculation of Fund IRR’s, Carried Interest and other Fund performance measures

• Manage Fund cash and liquidity, including bridge facilities, treasury positions and counterparty exposure

• Oversee liquidity monitoring and dry powder analysis

• Liaise with Treasury and Legal teams to set up, extend and monitor the use of bridge facilities

• Recommend all hedging and FX transactions with regular review of open positions

Process definition and building a scalable function

• Championing and being a positive advocate of process enhancement and ensuring adequate process documentation and control for your areas of responsibility to an auditable standard.

• Proactively contribute and lead ad hoc projects to support the team and department objectives.

Key Requirements/ Qualifications

You will have demonstrable experience of: 

Essential

• Extensive experience in fund operations and transaction execution

• Qualified chartered accountant or equivalent

• PQE in close ended funds’ accounting/operations including an understanding of performance metrics (IRR, money multiples etc) and carried interest

• Experience within a Debt, Real Estate or related asset sector

• Demonstratable understanding of Fund structuring, tax considerations, and interpretation of legal documentation

• Experience working in Private Equity/Asset Management/Investment Banking/Financial Services and/or extensive experience working in Fund Administration Investment Operations role or equivalent.

• Experience of managing recurring processes and projects

• Strong Excel skills

Desirable

• Line management experience

• Exposure to investments across multiple European jurisdictions

• Experience of liquidity management and FX hedging

• Experience working at an Accounting/Audit firm

• Experience successfully working with external TPAs

• Track record of successfully implementing system and process improvements

• Advanced financial modelling/ Excel skills

Personal Attributes

• Takes initiative with a strong sense of ownership and accountability

• Collaborative team player who supports and motivates others

• Inquisitive drive to build knowledge, with aim to become a subject matter expert for ICG RE Debt Operations

• Confident and strong communicator, with excellent interpersonal skills – able to handle communications with investors and Portfolio Managers

• Strong stakeholder management skills, with the ability to collaborate across cross-functional teams/departments across both ICG and external providers

• Highly organised, strategic, and solutions‑oriented, with a track record of driving operational excellence.

• Strong project management and organisation skills

• Demonstration of creative problem solving / process improvements / building relationships with key business stakeholders.

• Analytical with attention to detail, highly organised and results focused.

• Driven, and able to work under pressure to tight timelines and independently with various projects/deals simultaneously at any given time.

• Excellent time management and organisational skills to meet tight deadlines and manage multiple tasks.

Our Global Benefits Framework is centred around these 3 key attributes:

• Wellbeing - Supporting your mental, physical and financial wellbeing as well as your lifestyle needs.

• Inclusivity – Fit for purpose and competitive, no matter who or where you are.

• Longevity – Long Term and sustainable in design.

Inclusion is one of ICG’s key values and we are committed to creating an equitable and inclusive workplace for everyone. By welcoming different perspectives, we strengthen ICG’s performance, enrich decision-making and contribute to better outcomes for our clients, colleagues, and the markets we serve. Accordingly, our recruitment processes provide equal employment opportunities to all applicants and employees, regardless of age, ethnicity, disability, sex, gender, sexual orientation, religion, or any other characteristic protected by local law.

We are equally committed to delivering an inclusive and accessible candidate experience. If you require information in an alternative format, additional time for assessments, an adjusted interview schedule, or any other support during the recruitment process, please let us know.