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

Darcy Solutions is seeking a highly motivated and entrepreneurial Managing Director, DSAM (Head of Structured Finance) to help launch and scale our asset management platform financing groundwater-based geothermal systems. This hands-on leadership role offers the opportunity to architect innovative capital structures, engage institutional investors, and build the financial foundation to grow DSAM to $1B AUM.

Department: Darcy Solutions Asset Management (DSAM)

Reports To: Chief Strategy Officer

Location: Minneapolis, MN (Headquarters) — Hybrid (3 days/week in office)

Job Overview

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.

Ideal Candidate

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.

Key Responsibilities

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, thermal-as-a-service agreements, tax-equity partnerships, and campus-scale ownership structures.
  • Standardize term sheets, templates, closing documents, and covenant frameworks with legal and accounting teams.
  • 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 partners.
  • Support investor presentations, deal negotiations, and capital-raising strategy.
  • Represent DSAM across financial institutions and government financing programs.

Financial Analysis & Portfolio Management

  • 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 establish operating cadence, culture, and execution standards.
  • Build and manage a team of analysts, associates, and specialists.
  • Collaborate closely with engineering, geology, regulatory, and development teams.

First 12–18 Month Priorities

  • Co-design and implement DSAM’s initial capital stack strategy across debt, equity, and tax equity.
  • Build and refine financial templates, underwriting standards, and due diligence frameworks.
  • Establish and advance early institutional relationships with lenders, tax equity providers, and infrastructure investors.
  • Prepare DSAM for Investment Committee-level governance, reporting, and decision workflows.

Qualifications

  • Extensive experience in structured finance, project finance, or infrastructure investment, ideally in renewable energy or distributed thermal systems.
  • Proven track record structuring and closing complex debt, equity, and tax-equity transactions.
  • Experience working with leading infrastructure investors (e.g., Brookfield, GIP, Stonepeak, Macquarie, Generate).
  • Strong ability to translate technical and engineering inputs into financial models and investment strategies.
  • Exceptional communication, influencing, and cross-functional collaboration skills.
  • Familiarity with federal incentives, tax credits, energy policy, and regulatory frameworks relevant to thermal-energy infrastructure.
  • Entrepreneurial mindset with comfort operating in ambiguity and building platforms from the ground up.

Working Conditions

  • Approximately 20% travel for investor meetings, project sites, and industry events.
  • Hybrid office environment with flexible work structure.
  • Competitive compensation package including bonus, full benefits, stock options, and meaningful carried interest opportunity.

Our Mission

Darcy Solutions was founded to improve the health of communities and the planet through practical climate solutions.
Our proprietary geothermal technology leverages groundwater thermal properties to deliver all-electric heating
and cooling for buildings—lowering energy costs while significantly reducing carbon emissions.

How to Apply

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.

Diversity and Inclusion Statement

At Darcy Solutions, we believe diversity is key to driving innovation and fostering a dynamic workplace culture. We are committed to creating an inclusive environment where every employee feels valued, respected, and empowered to bring their authentic selves to work. We actively seek to recruit, develop, and retain a diverse workforce that reflects the communities we serve.

Who We Are

Darcy Solutions is an engineering design and cleantech startup. Our foundational technology was initially conceived by our co-founder and developed while he was a research scientist at the University of Minnesota following the completion of his PhD there. Since spinning out from the University in 2018, we have focused on refining our technology for commercial application and rapidly driving the growth of our company. We installed our first pilot system in 2019, and following the launch of our first commercial system in 2020, we are enjoying strong interest in our geothermal-HVAC system solutions. To support our growing customer project pipeline and the build-out of the business, we are looking forward to welcoming additional talent into our team. The potential for further technology development is tremendous, and it will further enhance our opportunity and mission to significantly reduce carbon emissions from heating and cooling.

Employment Type

The Staff/Senior Geologist positions are full-time opportunities. We offer a competitive benefits package with full-time employment.

Location

This position offers a hybrid work arrangement, blending in-office collaboration at our New Brighton, MN, office with the flexibility of remote work. It also includes field assignments at various project sites.

How to Apply

Please submit your resume and a brief cover letter to kathy.jennings@darcysolutions.com explaining your interest in Darcy Solutions and how your skills and experience align with the position.

Thank you for your interest in joining our team!

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