Associate, Real Asset Investments (Copenhagen)

Novo Holdings is looking for an Associate to join our Real Assets investment team in Copenhagen, which is part of the Capital Investment division (CI). CI manages approximately half of Novo Holdings’ investable pool of assets and is responsible for Novo Holdings’ investment activities outside the life science sector, including investments in listed equities, credits and bonds, private equity and real assets. CI has approximately 20 investment professionals and is on an exciting journey to grow further over the coming years.  

We offer you an opportunity to be part of a growing Real Assets team, where you will take ownership of defined analyses, build financial models, and deliver technically robust work product across infrastructure, green transition and real estate in a team of 10 experienced investment professionals.  

The Real Assets portfolio has investments of approximately DKK 30 billion with the ambition to grow this portfolio significantly over the coming years.  

The Job 
You will have a central role in the execution of the Novo Holdings Real Asset strategy with the aim to continue the build out of an investment portfolio with a balanced risk / return composition as well as strong responsible investment profile. 

Through our Real Asset platform, we invest in high quality infrastructure, green transition and real estate assets. We look for assets that have a stable profile and substantial intrinsic value. Our primary focus is on investments located in Europe and North America as well as certain regions in Asia. We look to deploy capital through external managers, co-invest with our partners or invest directly. 

The variation in investment approach will offer you an exceptional opportunity to be challenged and developed professionally while focusing on your personal development in a dynamic and international organisation.  

Key areas of work include:  

• Market analysis and due diligence of new investments including areas of commercial, legal, tax and technical due diligence 

• Financial modelling, valuation and structuring of investments  

• Development of internal decision material 

• Pipeline development and maintenance 

• Support the development of investment views and theses within the Real Assets portfolio 

• Asset management of completed investments 

The job will require some travelling. 

Professional & Personal Qualifications 
We look for a candidate with the following qualifications: 

• Previous full-time experience is required, ideally 1-2 years post-graduation from either infrastructure or real estate investment fund, investment banking or internal M&A department from a large corporation  

• A relevant master’s degree within finance, economy or accounting with top academic results 

• A solid knowledge of business strategy, finance and accounting, as well as financial modelling and strong analytical and presentation skills 

• Curious and detail oriented with the ability to work independently 

• A team-oriented and collaborative mindset who thrives in a dynamic investment environment 

• High personal drive, professional integrity, and the ambition to take on significant responsibility in a high-performing team 

• Proficiency in Microsoft Office (Excel, PowerPoint); familiarity with additional investment and AI tools is a plus 

• Strong English communication skills, both written and verbal 

Working at Novo Holdings 

Novo Holdings is a holding and investment company responsible for managing the operating and financial assets of the Novo Nordisk Foundation, a mission-driven Danish enterprise foundation with a vision to improve people's health and the sustainability of the planet. As a leading global life sciences investor, Novo Holdings invests in life science companies at all stages of development, with a portfolio of more than 170 companies, while also managing a broad portfolio of public and private assets. As of year-end 2025, Novo Holdings had total assets of approximately EUR 93 billion.  

Our work environment is driven by purpose and values, and we strive to be a leading responsible investor, recognised by our stakeholders and people as an exceptional enterprise. Learning and development is core to our organisation, and we strive to create an environment, where our people can develop to their full potential.   

We employ more than 230 professionals from various nationalities and backgrounds, all sharing the same goal: To generate attractive long-term returns on the assets of the Novo Nordisk Foundation. Our investment teams are spread across offices in San Francisco, Boston, London, Singapore, Mumbai, Shanghai, and our headquarters just north of Copenhagen in Hellerup. 

Application and Information  

We encourage you to apply as soon as possible and no later than May 7th, 2026. To apply, please send your CV and cover letter by clicking on the “Apply now” button.