Senior Associate, Fund Finance Operations

Thank you for your interest in joining Alcazar Energy! Each role at our company offers the chance to make a tangible impact on the global shift towards sustainable energy. As you consider applying, reflect on how your unique skills, passion, and vision align with our mission to innovate and energize the world responsibly. Responsibilities: The Associate will own day-to-day borrower-side administration of the firm's project-financed SPVs from financial close through construction and into operations. The work covers the full set of borrower obligations under a typical DFI/commercial lender financing package, including: * Compliance monitoring — tracking and managing conditions subsequent, ongoing reporting obligations and information covenants across the Common Terms Agreement, individual Facility Agreements, Accounts Agreement, hedging documentation and project documents (EPC, BoP, TSA, TOMA, PPA, offtake and grid agreements). The Associate should be comfortable reading the underlying documents and identifying obligations directly, rather than relying on external counsel to flag them. * CP/CS management — building and maintaining the project's CP and CS trackers, gathering and packaging evidence, and driving the satisfaction of conditions across internal teams and external counterparties. * Drawdown and waterfall administration — preparing and submitting utilisation requests, supporting documentation packs, CP/CS evidence, and managing the project accounts waterfall (including cash sweeps, DSRA, MMRA (if applicable) and distribution mechanics). * DSCR and lock-up monitoring — calculating forward- and backward-looking DSCRs, LLCRs and other lender-defined ratios, tracking headroom to distribution lock-up triggers and providing early warning on emerging covenant risk. * Debt service and hedging administration — coordinating interest rate fixings, EURIBOR/SOFR resets, interest and principal payments, swap settlements, and reconciling against the agreed repayment schedules. * Lender reporting and engagement — preparing periodic operational and financial reports for lenders and the intercreditor agent, managing the day-to-day lender relationship at working level, supporting annual budgets and operating plans, and managing lender consents, waivers, amendments and information requests. * Asset management interface — working closely with technical, commercial and ESG colleagues to track project KPIs (availability, generation, opex, capex variance) against the base case and lender requirements, and translating operational performance into financing implications. * Model maintenance and analysis — keeping in-life project models current with actuals and updated assumptions, producing forecasts for board, lender and investor reporting, and running the DSCR, sensitivity and scenario analysis that supports refinancings, amendments and lender engagement. * Model review and governance — reviewing and challenging lender, model-auditor and counterparty model outputs for material errors and assumption integrity, and maintaining version control and a clear audit trail across the model suite. * External advisor coordination — managing inputs to and outputs from the LTA, Independent Engineer, insurance adviser, model auditor, lender legal counsel and accounts bank, and supporting any post-close advisory deliverables. * Amendments and waivers — running selective refinancings, repricings, top-ups and amendment-and-restatement processes from the sponsor side as portfolio assets mature, including drafting first-cut waiver and consent requests for lender consideration. Relationship Management: The Associate reports to the Associate Partner/Partner within the PF/Investment team and works in close collaboration with the wider investment, asset management, finance and ESG teams. The role offers direct exposure to senior management, lenders and external advisors, and a clear development path into more senior portfolio management and structuring roles within the platform. Qualifications and Skills: * 3–6 years of project finance experience, with at least 2–3 years at a developer, IPP, infrastructure fund or sponsor. * Demonstrable experience administering live project-financed SPVs end-to-end — drawdowns, lender reporting, waivers, consents, CP/CS, debt service, account waterfalls. * Advanced Excel and strong hands-on project finance modelling skills — able to maintain, interrogate and stress-test sponsor-side models (DSCR sculpting, debt sizing, sensitivity engines, three-way financial statements, tax modelling and circular references) and stand behind the outputs, rather than necessarily having built them from scratch. * Working knowledge of project finance documentation — CTAs, facility agreements, accounts agreements, intercreditor and security sharing arrangements, hedging documentation, and the principal project documents — at the level required to identify obligations and risk directly rather than via counsel. * Direct experience of DFI lending practice (IFC, EBRD and similar), including E&S reporting, is a strong advantage (not a must). * Numerate and accounting-literate, with the ability to translate technical financial analysis into clear written and verbal communication for non-specialist stakeholders. * Comfortable managing multiple live workstreams in parallel under time pressure around drawdowns, reporting deadlines and lender approvals. * A practical, hands-on disposition. The role calls for someone who is happy to be the person doing the work rather than reviewing or commissioning it from advisors. We appreciate your time in considering a career with Alcazar Energy. By joining our team, you’re choosing to stand at the forefront of the renewable energy industry, contributing to projects that prioritize integrity, quality, and sustainability. As you share our commitment to making a difference, we look forward to potentially welcoming you aboard.

About Man Group Man Group is a global alternative investment management firm focused on pursuing outperformance for sophisticated clients via our Systematic, Discretionary and Solutions offerings. Powered by talent and advanced technology, our single and multi-manager investment strategies are underpinned by deep research and span public and private markets, across all major asset classes, with a significant focus on alternatives. Man Group takes a partnership approach to working with clients, establishing deep connections and creating tailored solutions to meet their investment goals and those of the millions of retirees and savers they represent. Headquartered in London, we manage $228.7 billion* and operate across multiple offices globally. Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index. Further information can be found at www.man.com At Man Group, we respect your privacy and we are committed to protecting and safeguarding your Personal Data. We have developed policies and processes which are designed to provide for the security and integrity of your Personal Data. We are committed to Processing your Personal Data fairly and lawfully, and being open and transparent about such Processing. For further information on how we process your data, please see the privacy notice for applicants here * As at 31 March 2026   About Man US Direct Lending Man US Direct Lending is a private credit manager, specializing in directly-originated, secured senior and unitranche loans to performing, private equity sponsor-backed U.S. middle market companies. Man US Direct Lending’s middle market direct lending investment objective is to generate current income with a focus on capital preservation. Man US Direct Lending offers a complete financing solutions product suite to middle market businesses with EBITDA generally between $10 million and $75 million. From inception to September 30, 2025, MDL has invested and managed capital (including co-investments) of over $33 billion in performing, senior secured loan investments across more than 355 borrowers. Man US Direct Lending has built its platform with a senior management team that has extensive experience investing across the capital structure. Man US Direct Lending’s senior management team shares a common investment philosophy built on a framework of assessing companies with disciplined, fundamentals-based credit analysis. As of September 30, 2025, MDL had 78 employees, 45 of whom are dedicated investment professionals, with three primary offices located in New York, New York, Fort Worth, Texas, and Chicago, Illinois. The Firm also has offices in Wellesley, MA and in San Francisco, CA. Purpose of the Role Fund Accounting team at Man US Direct Lending is responsible for financial reporting, audit, and tax compliance for its funds and other investment structures. The Fund Accounting team is seeking to add to its growing team an Associate role that will be focused on financial reporting and audit. The Associate will spend significant time with finance, and operations teams. The ideal candidate has a strong sense of ownership, is proactive, and is able to work on multiple projects at one time, employing a range of skillsets. The Associate will report to Parmeet Jangi, Vice President. Specific Responsibilities * Managing the monthly, quarterly, and annual Fund financial statement closing process * Primary review of the Fund quarterly and annual financial statements * Primary review of monthly and quarterly compliance report to the Funds’ lenders * Primary review of Fund tax returns and K-1s * Assisting and coordinating Fund audits * Assisting in the preparation of quarterly income and annual operating budget projections * Managing investor capital calls and distributions process * Management fee and incentive fee calculations * Monitoring daily cash management and other liquidity needs * Managing and supervising third-party administrators and other third-party service providers * Efficient and effective communication with auditors, portfolio management team and investment team * Contribute to the development of policies and procedures * Ad hoc projects as assigned Key Competencies * Bachelor’s degree in Accounting * A minimum of two years of experience within the financial services industry at a public accounting firm or alternative asset manager * Understanding of and interest in private credit a plus * Strong Excel skills * Exceptionally detail oriented and has ability to multi-task * Effective communicator and able to write clearly and concisely * Strong interpersonal skills The anticipated based salary range for this position is listed below. Compensation packages would also include benefits and a discretionary bonus. This is the base salary range that the Company believes it will pay for this position at the time of this posting based on the location and requirements of the position as well as the skills, qualifications, and experience of the applicant.  The Firm reserves the right to modify this pay range at any time. US Pay Range $90,000—$105,000 USD Inclusion, Work-Life Balance and Benefits at Man Group You'll thrive in our working environment that champions equality of opportunity. Your unique perspective will contribute to our success, joining a workplace where inclusion is fundamental and deeply embedded in our culture and values. Through our external and internal initiatives, partnerships and programmes, you'll find opportunities to grow, develop your talents, and help foster an inclusive environment for all across our firm and industry. Learn more at www.man.com/diversity. You'll have opportunities to make a difference through our charitable and global initiatives, while advancing your career through professional development, and with flexible working arrangements available too. Like all our people, you'll receive two annual 'Mankind' days of paid leave for community volunteering. Our comprehensive benefits package includes competitive holiday entitlements, pension/401k, life and long-term disability coverage, group sick pay, enhanced parental leave and long-service leave. Depending on your location, you may also enjoy additional benefits such as private medical coverage, discounted gym membership options and pet insurance. Equal Employment Opportunity Policy Man Group provides equal employment opportunities to all applicants and all employees without regard to race, color, creed, national origin, ancestry, religion, disability, sex, gender identity and expression, marital status, sexual orientation, military or veteran status, age or any other legally protected category or status in accordance with applicable federal, state and local laws. Man Group is a Disability Confident Committed employer; if you require help or information on reasonable adjustments as you apply for roles with us, please contact TalentAcquisition@man.com.