Middle and Back Office Associate

OVERVIEW

Cygnum Capital Group Ltd (the “Group”, “Cygnum Capital”) is an FCA-regulated frontier market-focused investment bank consisting of a multi-fund Asset Management platform (“Cygnum Capital Asset Management”), plus an advisory-investment banking arm, with offices in London, Nairobi, Lagos, Dubai and Amsterdam.

Cygnum Capital Asset Management currently manages six (6) debt funds and one (1) venture capital fund, with a combined fund size of over USD 1.26 billion. The funds (outlined below) are specialised in non-traditional asset classes, such as African renewable energy companies, solar home systems and other off-grid solutions, and local currency bonds issued by microfinanciers.

AfricaGoGreen Fund (“AGG”): AGG was established in 2020 to promote private debt investments that mitigate or reduce the emission of Greenhouse Gases (“GHG”). The Fund currently has USD 165.9m in committed capital and a Technical Assistance Facility of USD 3.4m. The Fund has a pan-African focus and will prioritise investments in Compact with Africa countries in West Africa.

Off-Grid Energy Access Fund (“OGEF”): OGEF is designed to support low-income rural households and Small and Medium-Sized Enterprises in Sub-Saharan Africa by offering flexible financing solutions to companies providing affordable energy access to rural off the grid communities. OGEF invests via a range of debt instruments, including receivables lending, inventory finance, working capital and corporate debt lending with a focus on increasing the availability of local currency debt and enhancing the capacity of local capital markets.

Facility for Energy Inclusion (“FEI”): FEI is a debt financing platform for renewable energy focused exclusively on mid-sized projects covering small IPPs (<25MW), captive power solutions, Commercial & Industrial (C&I) energy portfolios and mini-grids. FEI supports multiple technology platforms (wind, solar, hydro, biomass, geothermal, storage, etc.) and is open to portfolio lending and bespoke structures that meet the client’s needs: long-term commercially priced debt; corporate, project and structured senior or subordinated debt; and construction and bridge loans.

The African Local Currency Bond Fund (“ALCBF”): ALCBF was founded December 2012 by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The Fund's mission is to support the development of African Capital Markets by promoting primary and corporate bond issuances in local currency, which is achieved by acting as an anchor investor and providing technical assistance. The Fund aims to invest in companies that support inclusive economic growth including financial inclusion, renewable energy, infrastructure, agriculture, housing, education and healthcare. The Fund is rated Baa1 by Moody's and has cumulatively invested ca. USD 400 million across over 50 companies and 18 countries to date.

Universal Green Energy Access Programme (“UGEAP”): UGEAP is a public-private-partnership whose anchor investor is the Green Climate Fund. The Fund focuses on off-grid, mini-grid, on-grid and C&I renewable energy projects via on-lending to local financial institutions and co-lending as direct investments alongside other lenders. UGEAP aims to grow its portfolio to a total fund size of USD 300m.

Africa Agriculture Trade Investment Fund (“AATIF”): AATIF is a public-private partnership, with the German development bank KfW as the anchor investor, acting on behalf of the German government. AATIF is looking to promote primary agricultural production, value addition through local processing and increased international trade integration.

E3 Low Carbon Economy Fund I (“E3 LCEF”): E3 LCEF is a venture capital fund, advised by E3 Capital, that makes equity investments in early-stage African companies supporting the transition to a low carbon economy.

Together, the Cygnum Capital Debt Funds and E3 LCEF (the “Funds”) are supported by the Group’s Middle and Back Office (“MBO”) team.

THE ROLE:

The Middle and Back Office Associate role will support the Funds in the execution of operational, treasury, financial reporting and administrative activities within the MBO team. This is a full-time position based in Nairobi.

The main activities of the operations associate role will include:

• Support the timely settlement of executed trades, payment of fund expenses and liabilities, reconciliation of portfolios and cash activity, and lifecycle events, ensuring accurate invoicing of income to investees and accurate posting in the portfolio management system (DLM).
• Support the management of relationships with administrators, custodians, investees, third-party vendors and other service providers.
• Assist in the Facility Agent function for syndicated facilities by managing lender and borrower communications, payment processing, and invoicing.
• Support the execution of FX hedges and other derivatives related to portfolio investments, including monitoring collateral positions and processing margin calls.
• Prepare payment instructions and supporting documentation for authorisation by the Funds’ authorised signatories, and maintain evidence of payment controls, including call-back verification.
• Perform reconciliation of financial information to the fund administrators and ensure operations-related queries are resolved to meet ongoing requirements under SLAs.
• Support quarterly NAV reviews, financial statement preparation, audit requests, and valuation and expected credit loss (ECL) inputs.
• Prepare investor capital call and distribution notices and maintain accurate investor records.
• Maintain KYC documentation and entity master data for investees, investors and counterparties.
• Support AIFM regulatory and investor reporting requirements.
• Coordinate with stakeholders to implement changes and improve processes to ensure asset management data is accurately maintained.
• Contribute to MBO process improvement and automation projects, subject to internal approval and in accordance with agreed scope, timelines, and organisational policies.

Essential Skills and Experience:

• Bachelor's degree in Finance, Accounting, Economics, or a related field.
• Two (2) to four (4) years’ experience in fund operations, fund administration, private debt or a related middle or back office role.
• Working knowledge of the loan lifecycle (drawdowns, repayments, interest and fees), reconciliations, and FX and derivatives basics (ISDA/CSA, collateral and margin).
• Strong attention to detail, high level of organisational skills, with a process-oriented mindset and the ability to meet deadlines.
• Excellent communication and interpersonal skills.
• Self-starter who can prioritise, track overlapping assignments, plan time appropriately, and otherwise fill the role with minimal supervision.
• Flexibility and adaptability to work with changing situations in a dynamic organisation.
• Ability to perform with a high level of discretion, professionalism, and integrity.
• Advanced Excel skills and proficiency in the wider MS Office suite.

The following would be considered an advantage:

• Progress towards a professional qualification (e.g. CFA, ACCA, CPA).
• Experience with emerging market currencies and African markets.
• Familiarity with data and automation tools (e.g. Power BI, SQL)

Applications close at Noon on Thursday, 12th November, 2026. Any personal data submitted will be processed in accordance with Cygnum Capital’s privacy notice.