Operating Principal

Old Mutual; Cape Town; On-site; ZAR 1 200 000 - 1 800 000; Full time

Job summary

A leading investment management firm in Cape Town seeks an Operating Principal with an engineering background to join a dynamic team focusing on the African energy transition. The ideal candidate will have 8-10 years of experience, participate in key investment activities, and mentor portfolio companies. Strong technical acumen, critical thinking, and a collaborative spirit are essential. This role offers an exciting opportunity to impact emerging energy solutions in Africa and work alongside a passionate team dedicated to positive change.

Qualifications

• Relevant qualifications (B.Eng/M.Eng as well as additional finance certifications).
• 8-10 years’ experience in energy, climate, infrastructure.
• Direct experience across energy transition infra assets in Africa.

Responsibilities

• Participate in the origination, diligence, execution of the Fund’s deals.
• Mentor portfolio companies’ technical and operations teams.
• Ensure thorough technical due diligence on projects.

Skills

Alternative Investments

Infrastructure Funding

Infrastructure Investments

Private Equity

Critical thinking

Education

Bachelor Of Science Engineering

Finance certifications

Job description

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

African Infrastructure Investment Managers (“AIIM”) is one of the pre-eminent private equity infrastructure managers in Africa, having raised over USD3.9bn in capital over the last two decades. With 5 offices on the continent, AIIM has invested in more than 22 African countries, representing over 74 investments across the Power, Digital infrastructure, Transportation and Midstream sectors.

AIIM is a wholly owned subsidiary of Old Mutual Alternative Investments (OMAI), one of the largest private alternative investment managers in Africa, with assets under management of USD7.6 billion. OMAI manages private equity and impact funds as well as infrastructure funds through AIIM. Our investment approach goes “Beyond the Obvious” and enables us to uncover opportunities others may overlook. We aim to deliver superior risk-adjusted returns as well as make a positive social impact across Africa.

About the Fund

Off the back of our successful track record in conceptualizing and raising new infrastructure vehicles, AIIM has been selected as the preferred manager for a new USD 200-250 million target vehicle, the African Transition Acceleration Fund 1 (The Fund).

The Fund intends to focus on early stage investing in the African energy transition landscape, with a focus on 3 core thematic verticals, including multiple sub-sectors, broadly in the asset-heavy climate infra space:

• Clean Electrons (Generation, transmission, battery storage, energy efficiency, etc)
• Clean Molecules (Production and handling of clean molecules)
• Sustainable Transport

The Fund will back infrastructure platforms with seasoned teams and an identified pre-construction pipeline, investing in both overheads, development costs and construction equity to enable the platforms to reach scale. The Fund will also invest in scale-up capital funding needs for growth companies for example in the electric mobility or energy efficiency sectors. The mandate is pan-Africa including north Africa.

The fund will not take the following risks:

• Technology risk
• Proof of concept risk (i.e. investing prior to product market fit)
• Assuming major changes in policy or consumer behaviour

The Role

An opportunity has arisen for a talented Operating Principal with an Engineering background to join a dynamic newly created niche team working in the African Energy Transition landscape at AIIM. You will work across the Portfolio and throughout the life cycle of projects from origination to exit, ensuring our approach is technically robust.

Key Responsibilities

• Participate in the origination, diligence, execution, asset management, and exit of the Fund’s deals with the investor lens of an Operator
• Mentor the portfolio companies’ technical, operations and construction teams through active oversight
• Ensure thorough technical due diligence through evaluating engineering processes, project management processes, contracting strategies, contract costing models, operations processes, and internal work management approaches
• Readily engage in discussions on technical and operational performance, with senior management at assets, to identify, structure, plan and deliver optimum technical efficiency
• Deliver regular performance reports to keep investors informed of the technical and operational status of their assets, providing insights into KPIs and benchmarking against industry standards
• Provide technical input to Investment Committee reports
• Manage transactions through AIIM's transaction process including taking overall responsibility for co-ordinating and prioritising technical work streams, managing input from advisers and maintaining client relationships, in accordance with AIIM's protocols and procedures
• Independently lead negotiations on select transactions with third parties, transaction counterparties, external advisers, co-investors, debt providers, and other involved parties
• Drive the technical aspects of the Fund’s exit processes ensuring alignment with sellside models and materials as well as unlocking future sources of operational value drivers
• Represent AIIM and add value on Boards of investee companies
• Collaborate with ATAF’s ESG Advisor to ensure ESG principles and practices are fully embedded in transactions
• Support the ATAF team with technical energy transition sector knowledge (e.g. service, maintenance, logistics) and transaction updates
• Respond comprehensively to investor transaction queries, portfolio companies and sectors
• Attend industry events and conferences to continuously improve portfolio performance and provide strategic support to portfolio companies
• Be an active and value-adding member of the ATAF team
• Participate in the mentoring and management of team members with less experience

Desired Candidate Profile

• Relevant qualifications (B.Eng/M.Eng as well as additional finance certifications)
• 8-10 years’ experience in energy, climate, infrastructure, including time spent in an engineering business in a P&L role; experience in a technical role at an investor is a plus
• Direct experience across energy transition infra assets in Africa, either in a construction or operations role
• Highly organised and able to manage multiple, complex workstreams simultaneously across geographies and sectors
• Demonstrable passion for early-stage business development in the climate space
• Strong networks and relationships with clients, private investors, banks as well as construction and related companies operating in Africa
• Successful track record of delivery and leading or working in project teams with high level stakeholders and qualified professionals
• Familiarity with unique disciplines of identifying, negotiating, closing, and monitoring transactions
• Excellent commercial orientation
• Strong people and communication skills, with maturity to interact with senior stakeholders both internal and external
• Critical thinking and problem-solving skills
• Demonstrable organisational, planning and prioritising skills
• Strong financial analysis and modelling skills
• Strong attention to detail, with a high level of accuracy and ability to perform under pressure

AIIM Culture Fit

• Entrepreneurial mindset
• Self-starter
• Intellectually curious
• Collaborative
• High energy
• Performance obsession

Skills

Alternative Investments, Infrastructure Funding, Infrastructure Investments, Investments, Private Equity

Competencies

Builds Effective Teams Communicates Effectively Customer Focus Ensures Accountability Financial Acumen Instills Trust Manages Complexity Optimizes Work Processes

Education

Bachelor Of Science Engineering

Closing Date

04 March 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!