Direct Lending Associate Internship - Summer 2027
About The Position
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. Summary Fidelity is expanding its Chicago based lending team operating within the large direct lending / private credit market. Our leveraged finance platform targets middle-market private equity backed businesses that require private financing for LBOs, acquisitions, recapitalizations and other investments. The Role Based in Chicago, this is an opportunity to join the middle market direct lending strategy of Fidelity’s High Income and Alternatives Group. This individual should have a strong desire to learn about private debt and gain skills and experience to become a demonstrated credit investment professional. Success in this role will require excellent work ethic, a self-starter mentality, solid written and verbal communication skills and be proficient in Microsoft Excel. This person should have the ability to work independently while also collaborating with a growing team. This role will allow the individual to get in on the ground floor, gain significant deal and credit experience assisting deal teams with due diligence and analyzing new direct lending investment opportunities, as well as take the lead on a summer long project that will be presented at the end of the internship to senior management.
Requirements
- Class of 2028 Bachelor’s degree candidates
- Interest in growing knowledge of fundamental research and investment management
- Shown initiative in studies and extracurricular activities related to financial markets
- Intellectual curiosity and dedication to continuous improvement
- Excellent verbal and written communication skills
- Proactive; seeks additional responsibilities and learning opportunities
- Proven success during their academic career
- High levels of integrity
- Prior internship experience in corporate setting
Responsibilities
- Assisting the deal team members to analyze new investment opportunities, completing industry research, analyzing company data and historical financial statements, building cash flow models, and assisting in written investment committee memorandums
- Attending weekly credit training with the direct lending deal team and all investment committee meetings
- Completing a summer-end project to demonstrate learnings from the internship
- Assisting in all aspects of due diligence and deal analysis, including portfolio management
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What This Job Offers
Career Level
Intern
Number of Employees
101-250 employees
