Internship Description
José Campos Costa '24 was a summer intern at ThirdWay Partners (TWP), an established impact investment and advisory firm focused on sustainability. José supported the Maputo-based corporate finance advisory business, which provides consulting services to impact-oriented firms and development agencies. José worked on multiple mandates, including a detailed review of portfolio assets held by an infrastructure development agency with projects in sub-Saharan Africa, taking into account current market conditions, setting up an exit road map for assets selected for exit, and identifying potential strategic buyers.
During my summer at ThirdWay Partners, I was fortunate to contribute to a project that aligned seamlessly with the organization's mission of sustainable development. I supported the corporate finance advisory team in conducting a comprehensive assessment and financial valuation of portfolio assets held by a development institution. This project was pivotal because it allowed us to evaluate these assets not only in terms of financial performance but also in their potential for sustainable impact. The assets included both equity and debt investments into microgrid projects, solar plants, and electrical mobility startups, amongst others.
ThirdWay Partners is an investment and advisory firm dedicated to sustainable development. By assessing the assets for their sustainable impact, market viability, and potential for strategic partnerships, I directly contributed to the organization's commitment to fostering environmentally and socially responsible projects. I also delved into researching capital structures and investment vehicles for financing microgrids in Sub-Saharan Africa, a region where sustainable development is of utmost importance.
In essence, my work at ThirdWay Partners not only enriched my understanding of sustainable finance but also allowed me to actively contribute to the organization's mission of driving social and environmental impact through strategic and sustainable investments.
During my first year at Columbia Business School, I acquired a robust skillset that I applied effectively during my work at ThirdWay Partners. The courses I completed played a crucial role in my ability to handle the responsibilities and tasks assigned to me.
Specifically, my coursework in Accounting, Foundations of Valuation, and Corporate Finance proved fundamental. I applied the valuation methods I learned, such as multiples and discounted cash flows, extensively in assessing and valuating assets and companies. Additionally, my understanding of different capital structures from the Capital Markets and Investments course was pivotal in understanding the viability of the analyzed assets.
The knowledge gained in Accounting was particularly essential as it formed the basis for completing all valuations accurately. My Project Finance course enabled me to comprehend and evaluate physical assets and infrastructure, allowing me to grasp the intricacies and risks of such financial transactions. Furthermore, when analyzing the viability and sustainability of businesses, I drew upon the insights from courses like Strategy Formulation and Strategies for Long-Term Growth. These courses informed my analysis of companies'competitive advantages, a critical aspect of my work.
Lastly, the Global Macroeconomic Environment courses (I and III) provided me with a comprehensive understanding of the macroeconomic landscape in which the analyzed companies and projects operated. This knowledge was crucial in modeling risks and estimating the cost of equity and debt for the assets located across diverse African countries.
In my first professional foray into finance, I encountered some challenges due to my limited prior exposure to this field before starting my MBA. The transition in the beginning was sometimes unnerving, as I worried about my ability to make effective and timely contributions. However, I was fortunate to work with a supportive team at ThirdWay Partners. My colleagues and director demonstrated incredible patience and were always willing to explain how to complete assignments, rather than simply assigning the more critical tasks to more experienced team members.
One of the key challenges was mastering the technical aspects of finance, including valuation methods such as multiples and discounted cash flows, which I had learned in my MBA courses. My deep interest in finance and dedication to learning played a pivotal role in overcoming this difficulty.
Furthermore, my limited prior exposure to finance made it necessary to immerse myself in learning about capital structures, asset valuation, and financial analysis. This was a significant learning curve, but my commitment to expanding my knowledge helped me bridge the gap between my academic background and the demands of the role.
In summary, my journey into the finance sector posed initial challenges due to my limited prior experience. However, with the guidance and support of my colleagues, dedication to learning, and application of knowledge gained during my MBA, I successfully navigated these challenges and made valuable contributions to ThirdWay Partners.
Working at the intersection of finance and sustainability during my time at ThirdWay Partners was an incredibly valuable experience. I gained hands-on experience in finance that not only broadened my skill set but also provided valuable insights into my career goals. This experience solidified my desire to work in the sustainable finance sector after completing my MBA, while equipping me with the tools and knowledge to be a competitive applicant in future job applications within this field.
Beyond the professional growth, this opportunity allowed me to embark on my first journey to Africa, where I lived for seven weeks. This experience was rather enriching on a personal level. It enabled me to immerse myself in Mozambican culture, learn about the local way of life, and form new friendships.
Additionally, before joining Columbia Business School, I spent almost six years at the same company. Starting a new job at ThirdWay Partners, in a different industry, vertical, and even country, where I didn't know anyone, was a significant change. However, it made me confident in my ability to adapt to new professional environments and embrace future career adventures with enthusiasm.
In summary, my experience at ThirdWay Partners not only enhanced my financial acumen and clarified my career goals but also enriched my personal life through cultural immersion and personal growth. It reinforced my adaptability and readiness for future challenges in the ever-evolving professional landscape.
