About the business
Etude operates in insurance, commercial real estate, and industrials. Our insurance business covers more than 5,000 properties with billions of dollars in insured value. Our real estate business owns approximately $1B of commercial property alongside the Kinder Family Office. Our industrial business is developing a multibillion-dollar, 40-acre steelworks to secure the domestic supply chain for electrical infrastructure.
About the team
We are roughly a 100-person team. We hire high-agency people and give them autonomy, responsibility, and diverse problems to work on. We operate with the intensity of a small company where every person's work is visible and believe responsiveness is a form of respect. If you're looking for a place to sharpen your craft alongside people who take their work seriously, you'll fit right in.
Etude Capital is developing a grain-oriented electrical steel (GOES) mill in Ohio through its portfolio company Flux Steel Works. GOES is the steel inside every power transformer, essential for modern civilization: the United States simply does not produce enough high grade electrical steel to meet its industrial and economic goals. We are responding to that need with speed and a team who bring over a century of experience in U.S. electrical steel leadership. We have purchased a brownfield site which will accelerate the project ~18 months, have significant customer and capital interest, and are working with the best technical and engineering partners in the industry. We are raising structured project financing with FID targeted for mid-2027. First coils early 2029.
We are hiring for either an Associate or a Vice President, Industrials (Project Finance) who has high agency and a strong work ethic, is outcome and detail oriented, creative, and direct. For the first year our focus is Flux Steel Works. After that we intend to apply the lessons we learn to other industrial projects, which you will help select and make possible. You will join a small and focused team within the $1B+ Etude platform, and be an integral part of making this important project a success.
Own our side of diligence with lenders, government financing offices, and counterparties, from first conversation to close.
Help draft and negotiate term sheets and final contracts with vendors, customers, and contractors. Scope and manage key deliverables, timelines, and documentation from these counterparties to drive financing.
Run the data room and the question log. When a lender asks a question, you know the answer or where to find it.
Create and update financial models and investor materials, maintaining exceptional accuracy, clarity, and consistency.
Help develop and implement structures that get the project financed sooner and with less dilution to equity.
Creatively unlock value from Flux’s existing real estate and power assets.
Take on a wide range of other operational, financial, and commercial priorities as needed.
3–10+ years in investment banking, project finance lending, or private equity, on industrials, power, or infrastructure deals.
Time at an infrastructure developer, a project delivery firm, or an operating company is a plus. So is any exposure to steel, transformers, the grid, or government-backed lending (DOE, EXIM, etc.).
You have taken several complex financings from term sheet to close.
You take responsibility for your actions and words. You speak up when you are right and are quick to say when you were wrong.
You write well. A lender, a lawyer, or a plant manager can read your memo once and act on it.
You are confident in building and owning financial models and diligence materials.
This role is based in New York City (hybrid). In accordance with applicable compensation transparency laws, the expected base salary range for this position is $120,000–$300,000 with generous equity and bonus structures available. Actual compensation will be determined based on factors such as experience, skills, and qualifications. A wide range is listed because this role could be a good fit for someone earlier or in the middle of their career.
If you don't have all the qualifications listed, don't worry! We understand everyone's career path is unique and still encourage you to apply if you feel this role is aligned with your career trajectory.
Employment at Etude is contingent upon a satisfactory verification of a general and criminal background check.