Investment Associate - Private Credit

About Fuels Capital

Fuels Capital is a European private credit firm with offices in Stockholm, Berlin and London. We provide asset-backed financing to entrepreneurs, company builders and privately held companies across Northern and Western Europe. We help our clients unlock liquidity from businesses, holdings and other assets, creating capacity for acquisitions, growth, refinancing and ownership-related situations.

Our strategy centres on secured, asset-backed lending, typically backed by real estate, financial assets and other hard collateral. We invest across two segments: (1) Growth – entrepreneurial capital for SMEs; and (2) Corporate – tailored financing for larger and more complex situations. We provide loans of up to EUR 25 million.

Founded in 2025, Fuels is already profitable and on a strong growth trajectory. Joining us means being part of an ambitious, entrepreneurial team building a distinctive European credit platform.

About the role

As Investment Associate at Fuels, you will work end-to-end across the deal lifecycle – from origination and credit analysis through structuring, negotiation and closing, into portfolio monitoring. You will be a core member of our investment team, working directly with senior partners on transactions ranging from entrepreneur-led financings to large corporate facilities, with ticket sizes up to EUR 25m. Your responsibilities will include:

• Underwriting prospective transactions – building financial models and assessing collateral such as unlisted shares, fund and partnership interests, real estate and other illiquid assets

• Preparing investment memos and presenting opportunities to the Investment Committee

• Supporting origination through outreach and relationship building with entrepreneurs, owners, family offices, corporates and advisors

• Contributing to term sheets, structuring and negotiation of bespoke financing solutions

• Working alongside legal counsel on documentation and closing

• Monitoring the portfolio post-close

This is a broad, hands-on role with real ownership from day one, and a clear path to grow into a more senior seat.

About you

We are looking for someone with strong analytical foundations, commercial instincts and a genuine drive to build. You likely have:

• Experience from investment banking, leveraged finance, private credit, direct lending, private equity, transaction services or a comparable credit-focused seat

• A degree from a leading university in finance, economics, engineering or a related quantitative field

• Solid credit and accounting fundamentals and confident financial modelling skills

• The ability to break down complex situations, form a clear view, and communicate it concisely

• A commercial mindset – you understand that a good investment team blends analytical rigour with the ability to win deals

• Fluent in English (other European languages is not mandatory, but advantageous)

• Entrepreneurial, hands-on, comfortable taking initiatives in a fast-paced environment

What we offer

• Be part of a fast-growing company backed by a licensed financial group

• Entrepreneurial, high-trust culture with significant responsibility, exposure and incentive

• Beautiful office in central London

• Strong opportunities for professional growth and development