Website Fidelity International
About The Opportunity
Job Type: Permanent
Application Deadline: 01 August 2023
Title: Private Credit Lead – Sustainable Investing
Department: Global Investment Research – Sustainable Investing
Location: Cannon Street, London
Reports To: Global Head of Stewardship & Sustainable Investing
We’re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together – and supporting each other – all over the world. So, join our global investment research, working across the Sustainable Investing and Private Credit teams and feel like you’re part of something bigger.
About The Team
Global Investment Research (GIR) was a department formed in 2020, bringing together our existing Equity, Fixed Income, Sustainable Investing and Research Specialist teams, with the addition and continued build out of our private assets capabilities, across the globe into a world leading research business. The teams also collaborate and work together with Real Estate, our Macro business, Multi Manager strategies and Systematic Research. The foundation of our approach to sustainable investment to embed this key strategy into our fundamental research processes. With additional input from the wider investment business, including trading, portfolio management and investment directing, this combined function enables all investors to collaborate and actively work to seek and influence investment decisions with our client needs at the forefront.
The sustainable investing department is consisted of over 30 sustainability specialists based across eight cities in five countries and an additional eight sustainability specialists in Dalian. The Stewardship & Research pillar (the SR team) works closely with investment analysts across different asset classes, supporting their ESG analysis and stewardship activities, including voting and engagement, at an issuer level. The SR team owns and leads the firm-level sustainability programs and initiatives such as the development of our ESG evaluation framework and proxy voting policy, collaborative and thematic engagement, regulatory engagement and policy advocacy issues, and the publication of sustainability research.
Private Credit Team
Fidelity International’s Private Credit team manages and is building out additional capabilities to manage client funds across the globe invested predominantly in leveraged loans, high yield bonds, direct lending, structured credit, real asset debt and alternative assets through funds, CLOs or Separately Managed Accounts. The group comprises expertise in Portfolio Management, Trading, Quantitative/Credit Analysis and Structuring/Product Specialists. The Private Credit group is based in London.
Our Investment Philosophy Includes
- A belief that investors must look beyond traditional sources of alpha
- A team-based strategy that combines distinct disciplines to consistently identify a wide range of investment ideas with the highest probability of success
- A commitment to proprietary research that provides enough ideas to build diversified portfolios, incorporating ESG analysis the analytical process and overall investment thesis
- A quantitative team that is integral to identifying alpha and providing rigorous risk analysis
Active ESG integration is an integral and differentiating part of our existing product offering. Through ongoing engagement with our issuers, we see the potential to generate alpha through improved sustainability practices, ensuring resilient business models and practices in the companies that we invest in.
Integrity – Doing the right thing, every time and putting the client first
Trust – Empowering each other to take the initiative and make good decision
Our Employees Should Be
Brave – Challenge the status quo, be accountable and speak up
Bold – Act with conviction, encourage diverse thinking and keep things simple
Curious – Learn to do new things in better ways and encourage fresh thinking
Compassionate – Have empathy, care for colleagues, clients and the community
Purpose of the Role
You will lead the development and execution of the sustainable investing strategy for Fidelity’s Private Credit products, collaborating closely with our investment professionals to ensure consistent, robust and effective integration of ESG throughout the investment process. You will lead the engagement strategy for FIL’s Private Credit strategies, working closely with borrowers in a range of sectors to improve ESG outcomes. To ensure consistency in our approach, you will work to tailor the existing Fidelity Sustainable Investing Framework to be applicable to private credit. You will represent Fidelity’s Private Credit capabilities, evidencing the ESG integration process to clients, consultants and other external and internal stakeholders. The candidate is likely to be asked to play a role across other private asset capabilities from time to time and ensure consistency in Fidelity’s broader approach to ESG in private assets.
Engagement and Advisory
- Lead active engagement with prospective and current investee companies in collaboration with the investment team, with the goal of driving positive change on ESG issues. Engagement serves to highlight strategic opportunities for investee companies to integrate sustainability in their business strategy, and to provide constructive advice to companies on how to drive improvement.
- Leverage sector and thematic expertise from FIL’s sustainable investing and fundamental analysts to build effective engagement plans for investee companies.
- Develop a deep understanding of the business model and ESG issues of each investee company and sector, leveraging FILs sustainable investing research capabilities, including the proprietary rating framework and analyst team.
- Clearly articulate Fidelity’s ESG strategy and relevant sustainability issues to borrowers, prospects, investors and consultants.
- Work with private credit analysts and portfolio managers to maintain awareness of ESG drivers and implement sustainability practices into our investment process, over the entire investment horizon, including pre-investment due diligence and post-investment.
- Provide ESG analysis on a fund and sector level and highlight the key ESG themes relevant to each sector and region, leveraging the expertise of SMEs in the broader sustainable investment team and GIR.
ESG integration (frameworks and regulation)
- Contribute to the development of Fidelity’s responsible investment policies, as it relates to Private Credit.
- Keep abreast of regulatory developments and play a lead role in the incorporation of regulation into ESG activities in Private Credit.
- Work to adapt the Fidelity Sustainable Investing Framework to ensure consistent ESG integration in Private Credit.
- Collaborate with internal and external stakeholders to establish appropriate data providers, where possible systematically integrating the data into sustainable investing research and analytics.
- Prepare written presentations, material and analysis as required in order to demonstrate our integration approach, including
ESG-related reports, ESG integration examples and other materials for client consumption as required by client-facing teams.
- Work with the RFP teams globally and other institutional support teams to organise responses to sustainability and ESG-related questionnaires for Private Credit.
- Raise Fidelity’s profile as a leader of sustainable investment and investor stewardship, with focus on Private Credit.
- Act as the focal point on Private Credit ESG-related matters both internally and externally, representing FIL in various ESG-related associations, shareholder meetings, industry conferences, events and panel discussions as required.
- Act as a thought leader on ESG topics and prepare written material as required for public consumption by editorial and communications teams.
- Work collaboratively, leveraging expertise across GIR to enhance the capabilities of our Private Credit strategy,
- Operate independently with confidence and credibility to influence tangible outcomes at a senior stakeholder level both internally and externally,
- Maintain a constructive, supportive and collaborative working environment and participate in overall team building activities,
- Think strategically to develop best-in-class solutions, facilitate and streamline the team’s processes and propose solutions to enhance impact and efficiency.
Experience And Qualifications Required
- At least 10 years prior experience of ESG integration/investment in private assets is essential
- Excellent communication and networking skills
- Strong research, writing and analytical skills
- Ability to form relationships and be credible with senior Fidelity management and external parties
- Proactive approach to work with a proven ability to multitask
- Attention to detail and ability to work under pressure
- Team oriented with a creative and innovative mindset
- Strong project management skills
- High energy level and enthusiasm for learning