Senior Analyst / Associate – Investment Team

Senior Analyst or Associate, Investment Team

Join Mercuria's Investment Team as a Senior Analyst or Associate, taking on a hands-on execution role at the core of the Group's principal investing activity. You will serve as 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, ensuring that no two deals look alike. Opportunities may include structured upstream acquisitions, greenfield power or storage platforms, metals offtake-linked equity investments, and biofuels joint ventures. You will work alongside a small team of leading industry professionals with deep expertise in the commodities space. This role suits candidates with strong technical foundations who want 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 key commercial risks.
• 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 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 through 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 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 Bachelor’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, offering a 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.