Tell us what attracted you to join the NWF?
The NWF’s twin aims of supporting the energy transition and increasing economic growth in our regions both resonated strongly with me. Further, the opportunity to join an institution in its infancy and help shape it is something I had done before and it can be very rewarding and great fun.
What does your role involve?
As an Assistant Director, I am the “day to day lead” on transactions, organizing the Managers and Analysts on the deal to ensure we are rigorously assessing and competently executing investment opportunities. I present key decisions to our Directors with a range of recommendations or potential solutions, freeing them up to focus on the most strategically important elements of a transaction.
Deal volumes vary, but over the course of a year there is typically ample time to get involved in business development which includes building and maintaining professional networks, attendance at conferences and taking speaking opportunities.
As an Assistant Director, you will typically be line managing a small group of Managers and Analysts, which is an incredibly rewarding part of the role as you track and support their progress.
What is the NWF like to work for?
The NWF is a unique institution that sits at the intersection between the public and private sectors. This means I get to work openly and collaboratively with intelligent and purpose driven civil servants and innovative and entrepreneurial businesses leaders, with everyone united in the delivery of critical infrastructure being delivered in the UK.
The NWF is also unusual in that it is a major financial institution that is not based in London. I have observed the Fund attracting top talent from all corners of the country, but excitingly a lot of the recruitment at more junior levels is happening locally, which means that over time West Yorkshire and the wider North of England will start realizing a pool of financial services talent that has been built in and around NWF. I expect NWF’s presence in the region will, over time, provide a meaningful boost to the regional financial services ecosystem.
What were you doing before you joined the Fund, and how has your experience helped with the role you are now doing?
I have been investing in infrastructure for a decade now, first at Greater Manchester Pension Fund where I was part of a team that set up GLIL Infrastructure LLP. GLIL is a direct investor in core infrastructure, predominantly in the UK. My time at GLIL helps me in my current role, as I know what risk profile institutional investors are looking for and can assess what risks need to be mitigated before an NWF opportunity could be considered investable by pension funds and insurers, who want to invest billions into the asset class but only at a risk profile that works for their business models.
More recently, I was a Portfolio Manager at Border to Coast pensions Partnership which is another large financial institution that has set up in Leeds in the past 5 years. My role at Border to Coast was to construct a global, diversified infrastructure programme mainly utilizing external funds and augmented by co-investments alongside some of the world’s pre-eminent Fund Managers. I was also part of the team that set up Border to Coast’s innovative Climate Opportunities Fund, which raised £1.3bn. I focusing on hydrogen and solar opportunities for this strategy.
What are your highlights/ proudest achievements since joining the NWF?
I am very proud of the team that I manage- I see huge potential in each of them and being part of their professional growth is very rewarding. As a feedback focused institution, I regularly get updates on how they are helping deliver on NWF’s projects and can support on any specific development needs when these crop up.
In terms of the transactions I have worked on, I am very proud of investments we have made into ZeroAvia and Haventus Port of Ardersier.
ZeroAvia are seeking to solve one of the biggest challenges we face in achieving Net Zero - the decarbonization of air travel. The innovation that is happening at Cotswold Airport is incredibly exciting and the opportunity to participate in their Series C equity raise alongside investors such as Airbus, Barclays, Breakthrough Energy and AP Ventures means that the business has the resources to advance their technology whilst seeking regulatory approval to bring their products to market. They have already flown a 20 seater aircraft using a hydrogen powered engine and are working on bigger engines for aircraft up to 60 seaters.
Haventus Port of Ardersier is a greenfield port being developed 10 miles east of Inverness in Scotland. NWF partnered with Scottish National Investment Bank to provide a £100m loan facility to support Haventus in building what will be a world class energy transition facility that will unlock offshore wind development - both fixed bottom and floating - in the North Sea for decades to come. This project is progressing well and is expected to welcome its first occupiers later this year.
What are you looking forward to next at the NWF?
As NWF’s mandate grows, I look forward to seeing how we can support more exciting businesses and projects as they seek to invest and employ people in the UK.
Also, as our portfolio of investment grows and diversifies, I expect there will be very interesting opportunities to facilitate partnerships between our portfolio companies which will deliver win - win outcomes for NWF and our investee companies.
What would you say to anyone thinking of applying for a role here?
A role at NWF gives you a front row seat at the unveiling of the technologies of the future.