Job Description:
We are seeking an experienced individual to lead Fidelity's Credit Alternatives Financing function. The successful candidate will bring strong subject matter expertise in a variety of credit investment products, leverage modelling, third party negotiations and will partner with Fidelity's portfolio management, product development, institutional sales, corporate treasury, legal, accounting, investment operations and oversight functions to build a world-class alternatives business.
The role will report to Fidelity's Head of Direct Lending.
Responsibilities
The Head of Credit Alternatives Financing will be responsible for developing, in coordination with the Head of Direct Lending, an overall strategy for assessing, implementing and portfolio financing activities in support of Fidelity's Direct Lending (and other relevant) businesses. The Head of Credit Alternatives Financing will be an integral member of the Fidelity Direct lending team and will be expected to support the team's efforts in various sales and marketing, institutional client servicing and financial reporting matters. Specific responsibilities will include:
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- Establishing, managing, and overseeing financing structures and leverage facilities for specific product lines.
- Managing relationships with providers.
- Developing reporting on usage/costs/flows.
- Negotiating terms, onboarding facilities, and assessing provider performance.
- Identifying opportunities to manage risk across facilities in coordination with portfolio managers and independent risk function
- Working with Fidelity's Product team, internal and external counsel, tax advisors, accounting teams and other stakeholders on product development, structuring, and ongoing oversight.
- Financing vehicles (RNF's/CLOs).
- Assisting with modelling of Management fees, carry, anchor terms, etc.
- Knowledge of various fund structures, feeder funds, rated feeders, interval funds, etc. for the different distribution channels.
- Supporting Fidelity's Sales and Marketing teams on new product benchmarking, business opportunities, client meetings, due diligence activities, and institutional side letter negotiations.
- Representing investment teams in partnership with investment services, finance, and operations teams to support the day-to-day investments of Fidelity's alternative products, including:
- Cashflow forecasting and modelling.
- Optimizing leverage facilities to for portfolio optimization to help drive alpha.
- Determining, with the portfolio management team, the timing of cash calls.
- Board and regulatory reporting investment and commentary review.
- Linkage between portfolio managers and all internal and external parties related to financing of portfolio investments.
- Coordinating with corporate treasury and enterprise risk on the use of firm balance sheet.
- Developing and communicating key financial metrics for Fidelity's Alternative products to internal and external parties.
Skills and Knowledge
- 15+ years of financial services experience.
- CPA, BS/BA Degree; MBA or equivalent graduate degree preferred.
- Expertise in alternative investment products including private equity, private credit, and real estate funds.
- Strong communication and collaboration skills.
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 working model blends the best of working offsite with maximizing time together in person to meet associate and business needs. Currently, most hybrid roles require associates to work onsite all business days of one assigned week per four-week period (beginning in September 2024, the requirement will be two full assigned weeks).
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, or by calling 800-835-5099, prompt 2, option 3.