Associate, Direct Lending (Originations, Underwriting & Portfolio Management)

Job Description:

Summary

Fidelity Investments established a new Chicago-based lending team in 2021 to pursue private credit investing.  Our leveraged finance platform targets middle-market private equity backed businesses seeking financing for LBO’s, acquisitions, dividends and other investments. We are looking for investor-minded, entrepreneurial, and accomplished candidates looking to join a growing team, gain significant experience and responsibility quickly, and help leverage the Fidelity name in this growing market.

The Group

The High Income & Alternatives group has more than $100B in assets under management (AUM).  The group’s AUM are invested “across the capital structure,” including in high yield bonds, leveraged loans, convertible bonds and equities. Fundamental research is the foundation of the group’s investment process. 

The Role

Based in Chicago, this is an opportunity to join a team for the newly formed middle market direct lending strategy of Fidelity’s High Income & Alternatives group.  This is a new important strategy for Fidelity where you will be a key member of the investment team. This individual should have a strong desire to become a private debt and leveraged credit investment professional, an understanding of credit markets and experience financing companies based on cash flows as well as assets. Success in this role will require excellent work ethic, a self-starter mentality, and the ability to work independently, while also collaborating within a growing team.

Responsibilities

The Associate will be an active and contributing member in all aspects of origination, due diligence, and relationship/portfolio management. These responsibilities include, but are not limited to:

• Interfacing with investment bankers, company management and private equity sponsors
• Investment screening, including financial modeling and industry research
• Assisting on all levels of due diligence on potential investments
• Creating investment committee presentations
• Participating in legal documentation and supporting ongoing portfolio management reviews

Qualifications

We are seeking candidates who have the following characteristics:

• Bachelor’s Degree in a relevant field required, advanced degree a plus
• 1-5 years of experience at a premier leverage lending firm, a top investment banking program, and/or a leading transaction advisory firm
• Advanced financial modeling skills and comfort dealing with a variety of capital structures
• Comfort participating in diligence meetings with senior management; portfolio companies, sponsors and other investment professionals
• Excellent written and oral communication skills
• Collaborative and proactive personality
• CPA and/or CFA preferred

Standards

The following standards are considered to be fundamental to the way in which our company operates:

• Responsibility
• Integrity
• Compassion
• Expertise

Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.   

We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home.  These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career.  Note, the application window closes when the position is filled or unposted.

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.

Certifications:

Company Overview

Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients’ money.

Join Us

At Fidelity, you’ll find endless opportunities to build a meaningful career that positively impacts peoples’ lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees’ Choice Award, we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don’t need a finance background to succeed at Fidelity—we offer a range of opportunities for learning so you can build the career you’ve always imagined.

Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Having the majority of our associates work onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most roles listed as Hybrid will require associates to work onsite all business days of every other week in a Fidelity office. This does not apply to roles listed as Remote or Onsite.

At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation, detailed in this document, and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.

We invite you to Find Your Fidelity at fidelitycareers.com.

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to accommodations@fmr.com.