Director - Portfolio Management

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, 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 will oversee the National Wealth Fund's growing portfolio of loans, guarantees and equity assets across all the sectors identified in the National Wealth Fund's framework. The PM team will also provide guidance and portfolio input into the Risk function and will influence the National Wealth Fund'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 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.

£110,000 - £145,000

1st November 2026. Early submission is encouraged, and applications will be reviewed on an ongoing basis.

• A highly visible internal and external ambassador, responsible for overseeing key portfolio projects, engaging with project sponsors and equity fund managers, and using specialist expertise to identify when projects are at risk, taking accountability for implementing appropriate and necessary mitigating action to protect the interests of the Fund.
• Represent the Fund on investee company boards where appropriate, leading governance, strategic direction and risk management, including identifying and implementing the National Wealth Fund's exit strategy.
• Provide expert portfolio analysis identify concentration risks, risk mitigation strategies and accurately monitoring portfolio returns to successfully meet the objectives of the Portfolio Management team and the wider mission of the Fund.
• Actively contribute to the design and implementation of the National Wealth Fund's strategic Portfolio Management system to ensure the infrastructure supporting the business is reliable and sustainable.
• Leading valuation assessment of portfolio assets, including maintaining oversight of internal and external financial models, assessing appropriate valuation methodology, and providing support to the Portfolio team with sensitivity analysis and output analysis.
• Manage a high performing team of portfolio managers with the core objective of driving high returns for the Portfolio function as well as fulfilling the strategic objectives of the wider Fund.
• 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 the National Wealth Fund.
• Accountable for the approval of required documentation, covenant compliance, testing future financial projections and financial accounts to ensure that deals are legally compliant and will withstand financial scrutiny and thus align to the mission and objectives of the National Wealth Fund.
• Utilising industry expertise and knowledge, be confident in securing appropriate technical support if projects run into difficulties or delay to avoid exposing the Fund to a high degree of risk of loss.
• Lead 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.

• Established portfolio and people management skills in an infrastructure context.
• Demonstrable commercial expertise and perspectives combined with a high degree of accountability for high value and sensitive projects.
• Relevant sectorial experience across the broader infrastructure spectrum, which could include the energy, power, digital, construction or social infrastructure sectors.
• Excellent stakeholder management…