Job Description:
Investment Associate
Real Assets Investment Team – Devonshire Investors
The Team
Devonshire Investors is a private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments. Headquartered in Boston, Devonshire manages investments on behalf of FMR and its shareholders in businesses outside of the financial services industry.
Devonshire invests in directly-held real estate, venture capital and later-stage private equity. Devonshire actively participates in its direct investments, while leveraging expertise across a global platform in the United States, Europe and Asia. The portfolio targets the telecommunications, technology, natural resources, and life sciences industries. Devonshire has over $20 billion in assets under management.
The Role
The Investment Associate will join the investment team of the Real Assets private investment platform, with a focus on the land resources space. This multi-billion dollar platform actively invests in the energy, telecommunications, aggregates, timber, and agriculture industries via direct real assets and equity positions. The team is expanding and seeking additional resources to support the investment and oversight of the growing portfolio.
We are hiring an associate who is an analytical and strategic thinker, as well as a motivated learner comfortable with high autonomy on a lean and collaborative investment team.
Responsibilities:
New Investments
Build financial models for prospective investments, run sensitivity analyses around multiple scenarios, and manage investment underwriting process
Partner with investment team to source new investment opportunities and conduct due diligence for potential investments; manage and prioritize transaction pipeline
Draft investment presentations and memos and participate in investment approval process
Portfolio Management
Maintain internal financial model and projections for portfolio investments, analyze operating performance against expectations and provide updates to the investment team
Drive evaluation of prospective add-on acquisition targets and execute add-on transactions
Collaborate with colleagues internally in accounting, financial reporting, treasury, legal, risk, compliance, human resources, and marketing on various management / oversight activities
Prepare presentations to update stakeholders on portfolio activity and key developments
Investment Strategy
Monitor market developments, peer/competitor activity, and industry news
Conduct industry research and analysis and present findings to investment team to inform natural resources platform strategy
Support business development efforts to identify and cultivate relationships with leading operating companies, management teams, and investors
The Experience and Skills You Bring
2-4 years of experience in investment management, M&A, or strategic finance (real assets, private equity, investment banking, corporate development/strategy, etc.)
Strong analytical and quantitative skills, with demonstrated ability to think strategically
Exceptional modeling capabilities and experience drafting formal presentations and memos (proficiency in Excel, PowerPoint, etc.)
Resourceful, collaborative, confident, and comfortable with ambiguity
Excellent oral and written communication skills
Familiarity with agriculture, timber or other natural resources sectors is a plus; an interest in these sectors is required
BA/BS degree
Willingness to travel 10-20% of time to attend board meetings, ad hoc management meetings, industry conferences, and other business development/sourcing opportunities
Note: Fidelity is not providing immigration sponsorship for this position
Certifications:
Category:
FinanceMost roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.