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. Devonshire has approximately $20 billion in assets under management.
The Natural Resources platform consists of holdings in traditional and renewable energy, timber and agriculture real asset investments and comprises more than $2 billion of committed and invested capital across one directly held operating asset and two captive private equity funds. The platform continues to grow and is seeking additional resources to support the current portfolio and underwrite new investments.
About The Role
The Investment Associate will report to the Vice President of the Natural Resource platform. Your primary responsibilities will include: support for the underwriting of new investments, oversight of existing portfolio holdings, and leading industry research and analysis.
The Value You Deliver
Underwriting New Investments
- Support all aspects of underwriting, including diligence meetings with management, participation in diligence calls/visits, review of investment materials and industry/market research
- Lead financial modeling and returns analyses
- Compile investment presentations and memoranda to present to Investment Committee
- Support oversight of select portfolio investments including participation in monthly management meetings, monitoring company performance against investment thesis and staying apprised of industry trends
- Serve as a supporting representative to a select number of portfolio company boards alongside Vice Presidents and Managing Director
Industry & Market research
- Identify emerging industry trends relevant to new and existing investments
- Analyze industry valuation trends to support valuation process (with support of Valuation Manager)
The Expertise You Have
- 2-5 years as analyst/associate at a private equity firm, investment bank, or institutional direct investment platform
- Prior experience in natural resources investing is a strong preference (energy & renewables, timber, agriculture, or a related industry).
- A proven track record of delivering results and demonstrating impact
- A strong attention to detail and solid business perspective
- Demonstration of urgency and ownership of completing the day-to-day
- Gravitas to interact with portfolio company management, investment partners and senior executives
- Strong analytical and quantitative skills. Excellent oral and written communication skills
- Thoughtful, analytical, collaborative, self-aware and comfortable with ambiguity
- BA/BS degree with MBA or equivalent graduate degree strongly preferred