Structured Finance, Associate

Fluidstack•New York, NY

3d•$147,000 - $174,000

About The Position

Fluidstack is seeking an Associate for its Structured Finance team. The company's mission is to make humanity more free by building civilization-scale infrastructure for AI. They are focused on delivering 10 to 100s of GWs of compute faster than anyone else, which requires significant capital investment. The Strategic Finance Team is responsible for raising capital at the scale of a sovereign, inventing new financial instruments, and closing transactions at the speed of the build, not the speed of finance. This role involves supporting financing execution, building and maintaining transaction models, evaluating capital structures, and supporting investor and lender materials.

Requirements

Worked in leveraged finance, structured credit, or a related capital markets role at a bank, credit fund, or infrastructure sponsor.
Had exposure to deal execution: diligence, documentation, and lender and advisor coordination.
Build, maintain, and audit transaction models for multi-tranche capital structures, with guidance from senior team members.
Write clearly, drafting organized memos, summaries, and deal-tracking materials.

Nice To Haves

Data center, power, or digital infrastructure finance on the debt or equity side.
Credit agreement mechanics, covenant structures, and high-yield or leveraged loan documentation.
Credit support structures (guarantees, off-take agreements).
Warrant agreements and equity co-invest structures.
SPV structuring or multi-lender intercreditor arrangements.

Responsibilities

Support financing execution across high-yield bond issuances, senior secured term loans, and equipment and project finance facilities, helping manage diligence, track lender and counsel workstreams, and coordinate documentation through close.
Build, maintain, and audit transaction models: debt sizing, DSCR waterfalls, restricted payment mechanics, levered and unlevered returns, and multi-scenario sensitivities, owning model accuracy and flagging issues to senior team members.
Review and model credit support (guarantees, credit wraps, off-take agreements, investment-grade backstops) and analyze warrant agreements and equity co-invest structures, building fluency in how each affects debt sizing and underwriting.
Evaluate capital structures across HoldCo/OpCo/PropCo, cross-collateralization, cross-default, and intercreditor arrangements under the guidance of senior team members.
Support external counsel, financial advisors, and counterparty working groups, tracking open legal and commercial issues and moving resolutions forward on deal timelines.
Support investor and lender materials (investment memos, lender presentations, bond offering documents, approval packages), and partner with development, power, site selection, legal, and technology to gather inputs and communicate how financing affects project outcomes.