Analyst

Ninety One is an independent, active global asset manager with R3,9 trillion * of assets under management.

Established in South Africa in 1991, as Investec Asset Management, the firm started offering domestic investments in an emerging market. In 2020, almost three decades of organic growth later, the firm demerged from Investec Group and became Ninety One.

Our distinctive capabilities sit within differentiated fixed income and credit as well as specialist equities, and we have a unique perspective and approach to investment opportunities presented by emerging markets and the energy transition.

*as at 31 March 2026

Ninety One is an equal opportunities employer. Our imperative is to attract and retain the best talent by providing a corporate environment where people from varying backgrounds can develop professionally and build a rewarding career.

The EM Alternative Credit (EMAC) platform is one of Ninety One’s highest growth investment businesses, deploying private credit across South Africa, Rest of Africa, broader emerging markets and select developed market opportunities. We invest across the capital structure in leveraged finance, infrastructure debt, direct lending, high yield and structured credit — originating complex, bespoke transactions where deep sector knowledge and strong relationships drive alpha.

The platform operates a rigorous origination-to-execution model with meaningful in-house deal capability. Our investment professionals are embedded in transactions from first conversation through close and ongoing portfolio management, working in a high-trust, lean environment where pace and quality both matter.

• Own end-to-end origination of private credit transactions across your sector coverage, with a minimum 80% focus on the South African market and selective cross-border activity into the rest of Africa and broader EM
• Be responsible for building a credible and substantial pipeline of suitable transactions, predominantly through proactive origination. You will be expected to independently source, screen and progress opportunities from first contact through to investment committee approval. Success in this role will be measured to a large degree by the quality, volume and conversion rate of originated deal flow
• Build and maintain relationships with the full range of deal sourcing counterparties — including private equity and infrastructure sponsors, corporates, banks, intermediaries, development finance institutions and infrastructure developers, with a particular focus on channels most likely to generate proprietary deal flow
• Lead deal structuring, credit analysis and transaction execution across leveraged finance, structured finance and direct lending, covering consumer, services, real estate, industrials and core+ infrastructure sectors
• Serve as the deal lead and primary investment professional on transactions from origination through credit committee, documentation and close
• Prepare and present investment papers, credit committee materials and portfolio monitoring reports to internal governance forums with clarity and conviction
• Contribute to platform development — including fund strategy, investor reporting, sector views and team capability — as a senior member of the EMAC team
• Mentor and develop junior members of the investment team, raising the analytical and commercial standard of the platform

• 7–10 years of relevant experience in leveraged finance, structured finance, principal credit investing or a closely related discipline, ideally with a combination of sell-side origination and buy-side or principal execution
• A demonstrable track record of originating and closing privately negotiated credit transactions, with evidence of relationships that are genuinely portable
• Deep sector expertise across at least two of the following: consumer and retail, business services, real estate (including REITs and property finance), industrials, and core+ infrastructure (energy, transport, utilities, social infrastructure)
• Strong credit structuring skills — fluency in capital structure design, security packages, financial covenant setting and relative value assessment
• Experience working on South African transactions with an understanding of local market dynamics, regulatory frameworks and the domestic banking and credit landscape
• Comfort operating across the full deal cycle, from teaser review and NDA through term sheet negotiation, credit approval and documentation oversight
• CFA, CA(SA), MBA or equivalent professional qualification is advantageous; a strong undergraduate foundation in finance, economics or law is expected

• The ability to build and maintain meaningful relationships
• Intellectual curiosity
• High conviction and be comfortable sharing opinions
• Investment lead and passionate about markets

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