Investment Associate

Job Description:

Investment Associate

Real Assets Investment Team – Devonshire InvestorsThe 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 of holdings in the United States, Europe and Asia.  The portfolio targets the telecommunications, technology, natural resources, and life sciences industries.  The Real Assets investments consist of holdings and operating companies focused on generating traditional and alternative sources of energy and providing the necessary infrastructure to improve connectivity and to support cloud adoption. Devonshire has approximately $20 billion in assets under management.

The Role

The Investment Associate will join the investment team of the Real Assets private equity platform. 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. This position will be particularly focused on digital infrastructure and prior experience in digital infrastructure investing is a requirement (fiber, data center, wireless, tower, network hardware).

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

Fund 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 (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 real assets 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

Certifications:

Category:Private Equity

Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.