Managing Director, DSAM; Head of Structured Finance – DSAM

Managing Director, DSAM (Head of Structured Finance – DSAM)
Department

Darcy Solutions Asset Management (DSAM)

Headquarters:
Minneapolis, MN

Hybrid (3 days/week in office).

Darcy Solutions is launching Darcy Solutions Asset Management (DSAM) to finance, own, and operate groundwater-based geothermal systems for large campuses. With GAAP revenue projected to grow 4× in 2025 and recognition as a Cleantech Group Cleantech 50 to Watch, Darcy is entering a major scale-up phase requiring advanced structured finance capabilities.

The Managing Director will co-architect DSAM and build the financial platform enabling the business to reach $1B AUM within seven years. This hands-on leadership role blends financial innovation, investor engagement, and disciplined execution across Engineering, Geology, Regulatory, Sales, and Development teams.

This is a rare opportunity to build a new thermal-infrastructure investment platform powered by Darcy’s IP—delivering up to 200× the thermal capacity per well versus conventional geothermal—and to meaningfully decarbonize the built environment. The role shapes DSAM’s capital structures, underwriting standards, and investor strategy, and represents DSAM to leadership, the Board, and external partners.

You are a structured finance leader with a minimum of five years of project-finance experience executing complex debt, equity, and tax-equity transactions. You thrive in environments where you must build models, processes, and partnerships from scratch. You communicate seamlessly across financial and technical domains and can bring clarity to complexity. You pair institutional-grade rigor with the adaptability required in a fast-growing climate-tech company.

To apply, please submit your resume and a brief cover letter to Kathy Jennings , detailing your interest and how your skills and experience align with this role. If you require reasonable accommodation during the application or interview process, contact Kathy Jennings .

Capital Structuring & Execution

• Lead modeling and analysis for project- and portfolio-level financings, including debt, equity, and tax equity.
• Build and maintain dynamic underwriting and decision-support models.
• Shape financing products including SPVs, TPOs, thermal-as-a-service agreements, tax-equity partnerships, and campus-scale ownership structures.
• Standardize term sheets, templates, closing docs, and covenant frameworks with legal and accounting.
• Manage due diligence and data rooms for lenders and investors.

Investor & Partner Engagement

• Engage directly with project finance banks, infrastructure funds, tax equity investors, and institutional capital.
• Support investor presentations, deal negotiations, and capital-raising strategy.
• Represent DSAM professionally across financial institutions and government financing programs.
• Analyze project returns, cash flows, sensitivities, and risk profiles to guide investment decisions.
• Participate in portfolio-level financial tracking, compliance, risk monitoring, and investor reporting.
• Contribute to optimizing DSAM’s cost of capital and risk-adjusted return profile.

Leadership & Team Building

• Serve as a foundational leader within DSAM, helping set the operating cadence, culture, and expectations for a new infrastructure investment platform.
• Build and manage a team of analysts, associates, and specialists.
• Work cross-functionally across technical and development teams.

First 12-18 Months Priorities

As DSAM is established and scaled, success in this role over the first year will include:

• Co-design and implement DSAM’s initial capital stack strategy, including debt, equity, and tax equity pathways.
• Build upon existing and establish new financial templates and due diligence frameworks.
• Establish and help advance early institutional relationships with lenders, tax equity providers, and infrastructure capital partners.
• Help Prepare DSAM for Investment Committee-level governance, reporting, and decision workflows

• Extensive experience in structured finance, project finance, or infrastructure investment—ideally in renewable energy or distributed thermal energy…