Senior Analyst / Associate – Investment Team

THE ROLE
We are looking for a Senior Analyst or Associate to join Mercuria's Investment Team. This is a hands-on execution role at the core of the Group's principal investing activity. You will be the analytical engine behind new transactions and the day-to-day custodian of the models, diligence and reporting that support them.
The team invests across the full commodity spectrum and capital stack, which means no two deals look alike - a structured upstream acquisition, a greenfield power or storage platform, a metals offtake-linked equity investment and a biofuels joint venture can all sit on the desk in the same quarter. You will have the opportunity to work alongside a small team of leading industry professionals with deep expertise investing in the commodities space. The role suits someone with strong technical foundations who wants to see transactions end to end and understand the commercial logic behind them.

KEY RESPONSIBILITIES
Build and own detailed financial, valuation and commodity price models including scenario and sensitivity work across price, volume and capital structure.
Conduct market, asset and counterparty due diligence with a focus on supply and demand fundamentals, cost curves, competitive positioning, regulatory and permitting considerations, and the key commercial risks of each opportunity.
Draft investment committee papers, investment memoranda, teasers and board materials, presenting a clear and defensible investment case.
Support deal execution from first screen to closing including but not limited to managing data rooms, coordinating legal, financial, technical, environmental and commercial advisers, and feeding diligence findings back into the model and transaction documentation.
Monitor portfolio assets and investments such as quarterly performance reporting, budget and covenant tracking, KPI dashboards, valuation updates and liquidity analysis.
Work closely across Mercuria’s business including trading desks, structured finance, risk, treasury, legal and tax to understand how flows, offtake, hedging and financing structures underpin each investment.
Screen inbound opportunities and maintain the pipeline to support origination.

EXPERIENCE AND QUALIFICATIONS
2-5 years of relevant experience gained in investment banking (natural resources, energy, power or infrastructure coverage), private equity or infrastructure investing, a commodity trading house's principal investment or corporate development team, or transaction advisory.
Excellent financial modelling and accounting skills, with a demonstrated ability to build complex models from a blank page and to explain and defend the assumptions behind them.
Strong written work product and the ability to turn a large and messy evidence base into a concise, structured investment paper.
A Batchelor’s degree; CFA, ACA, CPA or equivalent is welcome but not required.
Comfortable operating in a lean team with shifting priorities and direct access to senior stakeholders; organised, detail-oriented and resilient under transaction timelines.

WHAT WE OFFER
The opportunity to invest a principal balance sheet rather than a fund — flexible mandate, long-term horizon and no artificial deployment pressure.
Direct exposure to one of the most commercially sophisticated trading franchises in the market, and to senior decision-makers in a flat, entrepreneurial organisation.
A lean deal team structure in which individual contribution is visible and ownership is given early.
Competitive base salary, discretionary performance-related bonus and a comprehensive benefits package.
Relocation support where applicable.