Job Description:

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. 

Responsibilities
The intern will be an active member of the investment team, assisting in all aspects of due diligence and deal analysis, including portfolio management. These responsibilities include, but are not limited to:

• 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

Education and Experience

• 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

Training

• Emphasis on hands-on training from team members directly related to intern projects 

• Opportunity for training in conjunction with investment interns in Equity, High Income and Fixed Income investment divisions at Fidelity

• Mentorship opportunities

• Exposure to Portfolio Managers and investment thought leaders

Location

Chicago, IL

Sponsorship

Fidelity Investments does not offer work visas for this role.

Intern Program Dates

June 7, 2027 – August 13, 2027

The base salary range for this position is $30 - $42 per hour.

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

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. Some roles may have unique onsite requirements. Please consult with your recruiter for the specific expectations for this position.

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:

Investment Professionals