Assistant Director - Portfolio Management

Shape the Future with the National Wealth Fund

At the National Wealth Fund, our mission is to swiftly and effectively mobilise trusted sector insights and investment expertise to unlock billions in private finance for projects across the United Kingdom. Providing £27.8bn of capital and an expanded mandate, we are ready to help the market invest with confidence, and continue to drive forward the Government's growth ambitions.

We are looking for skilled and results oriented individuals who are motivated to help us build the National Wealth Fund into an industry‑leading institution.

The Portfolio Management (PM) team oversees the NWF’s growing portfolio of loans, guarantees and equity assets across all the sectors identified in the NWF’s framework. The PM team provides guidance and portfolio input into the Risk function and influences NWF’s pipeline of new transactions with the aim of delivering a positive financial return. Collectively, the PM team is fundamental to the Fund achieving its mission of investing profitably to reduce UK carbon emissions and support local economic growth.

We are seeking an experienced investment professional to join as Assistant Director
, with a focus on managing and enhancing our overall portfolio including a number of early‑stage, high‑growth businesses.

Hybrid working with a minimum of 3 days per week in the Leeds office.

£90,000 - £120,000

24th Feb 2026. Early submission is encouraged, and applications will be reviewed on an ongoing basis.

• Monitor progress on key projects, engage with project sponsors, project boards and equity fund managers to mitigate risk, drive value creation, ensure mission alignment and support growth trajectories.
• Build and interrogate financial models, perform sensitivity analysis and lead valuation assessment of private companies, using DCF, market comparables and other relevant methodologies.
• Analyse qualitative and quantitative information such as financial models, technical and legal analysis, facility documentations and deeds, to assess operational and financial risks and implement mitigation strategies to protect NWF’s interests and reputation, including negotiation of waivers and consents in respect of deals / investments.
• Represent NWF as a board observer where appropriate, contributing to governance, strategic direction, and risk management of portfolio companies, including input into NWF’s exit strategy.
• Attend site visits and meet the Project Company management team, to inspect project progress and as required effectively scrutinise management in order to assess whether the asset is progressing to the agreed business plan.
• Negotiate and coordinate any required documentation, test covenant compliance, test future financial projections and financial accounts to ensure that deals remain financially sound and aligned to the mission and objectives of NWF.
• Contribute to the preparation of reports for Investment Committee and Credit Committee to inform the Committees about the risks presented by new projects, how those risks should be mitigated and how pricing should be structured.
• Actively contribute to the design and implementation of the Fund’s strategic Portfolio Management system to ensure the infrastructure supporting the business is reliable and sustainable.

• Established portfolio management skills tested in an investment context, with exposure to early‑stage or growth‑stage companies an advantage.
• Demonstrable commercial expertise and perspectives combined with a high degree of accountability for high value and sensitive projects.
• Strong financial modelling and valuation skills, with the ability to analyse complex capital structures and investment scenarios.
• Sectorial experience across the broader infrastructure spectrum, potentially within the energy, power, transport, construction or social infrastructure sectors.
• External counter‑party management skills will be critical. The successful candidate will confidently and professionally represent the NWF in dealing with clients, other banks and legal firms.
• Product experience relevant to the NWF’s product offering: equity, fixed and floating loans, guarantees (including inflation‑linked debt guarantees), noting that specific experience in direct equity investment and equity funds would be advantageous.

A career with us offers a unique opportunity to make a lasting impact and work on cutting‑edge technologies that will drive the UK’s future. We value diversity in our people and inclusion is at the heart of what we do.

We offer competitive benefits and unique learning opportunities from combining both private and public sector skills and experience. Please note, referencing and background checks are carried out for all roles here at the National Wealth Fund.