Direct Lending Associate Internship Summer 2026
Direct Lending Associate Internship Summer 2026
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
Job Description
Job Description:
The Group
The High Income & Alternatives group has more than $100B in assets under management (AUM). The groups 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 groups 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 Fidelitys 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 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
Second or third year undergraduate student
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 1 2026 August 7 2026
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 candidates relevant experience and other factors.
Note the application window closes when the position is filled or unposted.
Fidelitys hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days M-F) in a Fidelity office.
Please be advised that Fidelitys 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 ProfessionalsRequired Experience:
Intern
Employment Type
Full-Time
