Investment Associate, Natural Resources

Job Description:

Investment Associate

Natural Resources Investment Team - Devonshire Investors

Note: Fidelity is not providing immigration sponsorship for this position

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 Natural Resources private equity platform. This multi-billion dollar platform actively invests in the energy, aggregates, timber, and agriculture industries via direct asset 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

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 Expertise 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 for critical thinking
• 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 energy and/or infrastructure sectors is a plus; an interest in these sectors is required
• BA/BS degree
• Desire to live and work in Boston
• Willingness to travel 10-20% of time to attend board meetings, ad hoc management meetings, industry conferences, and other business development/sourcing opportunities

The base salary range for this position is $130,000 -$175,000 per year.
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.

Most 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.

Certifications:

Category:

Private Equity

Client-provided location(s): Boston, MA

Job ID: Fidelity-2122987

Employment Type: OTHER

Posted: 2026-02-10T18:49:26