Fund Principal – Unlisted Investments; Intermediaries

Public Investment Corporation (PIC)

Pretoria, South Africa

Southern Africa

Private Equity, VC & Private Credit

Leadership

This PIC Principal leads investments in SME lenders and other intermediaries that channel capital to small and medium-sized enterprises. Based in Pretoria, the role is responsible for selecting capable partners, structuring investments and overseeing how capital reaches the intended SME market. Assessment covers each intermediary’s management, governance, underwriting, systems and underlying portfolio. After investment, the Principal monitors deployment, financial returns, portfolio quality and development outcomes, intervening where performance falls short.

The mandate runs from strategy and origination through restructuring, refinancing and exit or maturity, with accountability for investment decisions, portfolio risk and the team delivering the work.

• Develop the SME-intermediary investment strategy and source lenders, other intermediaries and partnership opportunities.
• Assess partners’ ability to reach target SMEs and deliver sustainable risk-adjusted returns.
• Lead diligence on management, governance, finances, underwriting, systems, funding and underlying SME portfolios.
• Negotiate pricing, eligibility criteria, concentration limits, covenants, reporting and remedies for underperformance.
• Prepare investment cases and lead approval, documentation, conditions precedent and disbursement.
• Diagnose allocated investments and maintain an asset plan for each intermediary.
• Monitor capital deployment, portfolio quality and development outcomes; intervene early on underperformance.
• Lead restructurings, follow-on financing, refinancing and exits while maintaining accountability for returns.
• Manage intermediaries and co-investor relationships and develop the investment team with appropriate specialist input.

• Honours degree in Finance, Economics, Accounting, Engineering, Law or a related field.
• At least ten years of relevant investment experience, including substantial SME finance, financial-intermediary work and team leadership.
• Track record sourcing intermediary partnerships that expand SME access to finance.
• Experience assessing intermediary strategies, management, governance, underwriting and financial performance.
• Strong modelling, credit analysis, valuation, diligence and structuring at both intermediary and underlying portfolio level.
• Experience negotiating investment terms, eligibility criteria, reporting and performance measures.
• Post-approval experience monitoring deployment, quality, development outcomes, covenants and remedial action.
• Understanding of mandates, investment governance and regulation.
• FAIS Representative requirement, as stated in the specification.

• Relevant postgraduate qualification or professional designation.

Company website

28 Sep 2026

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