About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries and direct investments) and clean energy.

Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors.

Capital

Dynamics oversees more than USD 14 billion in assets under management and advisement and employs approximately 150 professionals globally across 14 offices in Europe, North America, and Asia.

Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as in GRESB benchmarking for its clean energy strategy.

OUR CLEAN ENERGY BUSINESS

Our Clean Energy team makes direct equity investments in carbon-reducing renewable energy, from late-stage development through to commercial operations.

Capital

Dynamics is one of the largest managers of UK onshore wind assets and subsidy-free solar PV in Europe, and our portfolio's reach extends deep into the Spanish, Italian and German markets. We focus on de-risking projects as they exit development and optimising performance and capital structure through to commercial operations.

THE OPPORTUNITY

We're looking for a driven, commercially sharp Associate to join our Clean Energy Investment team, based in either London or Madrid. Reporting to a Director, you'll be a core member of the deal team — involved across the full investment lifecycle, from origination and due diligence through to execution, financing, and post-acquisition asset management.

You'll build the financial models and investment committee materials that shape live decisions, support ongoing valuations and investor reporting, and work closely with stakeholders across the fund - consultants, advisors and investment committees among them. Because our portfolio spans Spain, Italy and Germany, your language skills won't just sit on your CV; you'll use them to engage directly with markets, counterparties and colleagues across Continental Europe.

LANGUAGE REQUIREMENT — ESSENTIAL

This role requires fluency in English plus one of: German, Spanish or Italian.

Our Clean Energy portfolio spans Spanish, Italian and German markets,



so this is a genuine day-to-day requirement of the role, not a nice-to-have - candidates who don't meet it won't be able to progress. WHAT YOU'LL OWN:

Lead the build of automated financial models and run financial sensitivities to inform deal decisions.

Draft investment committee memoranda that directly shape live investment decisions.

Support due diligence on acquisitions and the execution process on divestitures.

Support the financing activities of investments across the portfolio.

Conduct market analysis and research - including across the Spanish, Italian and German markets - to inform the team's investment decisions.

Partner with the Asset Management team to monitor and optimise investment performance post-acquisition.

Run scenario and sensitivity analysis to appraise projects under different performance conditions.

Represent the team at meetings, conferences and internal discussions.

Work with the Business Development and Product Development & Strategy teams to respond to investor requests.

WHAT WE ARE LOOKING FOR

Experience & Technical Skills A demonstrable track record in clean energy infrastructure, renewable energy, BESS and/or data centre deals in Europe, with strong knowledge of the Spanish, Italian and German markets.

Good understanding of accounting, finance and company valuation; asset management exposure is a plus.

Comfortable with core financial methodologies - leveraged buyout, forecast analysis, financial statement analysis and discounted cash flow analysis.

Extensive practical financial modelling experience, including modelling of debt financing.

Working knowledge of financial analysis ratios such as yield, IRR and NPV.

Good working knowledge of the support frameworks for renewables.

Comfortable using AI tools and large language models to accelerate market research, first-pass analysis and document drafting, with sound judgement on where human review is essential.

Education & Qualifications





Minimum 2:1 degree (or international equivalent) in Business, Finance, Responsible Investment, Renewable Energy or a related field.

Exceptional proficiency in MS Word, PowerPoint and Excel.

A keen interest in Responsible Investment and frameworks such as the UN Sustainable Development Goals, or a genuine willingness to learn.

Languages

Essential — Fluent English with excellent writing skills, plus fluency in German, Spanish or Italian.

Desirable — Proficiency in a further European language, preferably Polish, Danish, Finnish or Swedish, etc.

You'll Also Bring

Highly developed analytical skills and the confidence to work on your own initiative.

The ability to work accurately under pressure in a fast-moving environment.

Strong organisational skills and exceptional attention to detail.

The ability to produce high-quality presentation materials.

A team-oriented, problem-solving, results-focused mindset.

Articulate, balanced and cogent verbal and written communication.

Our Equal Opportunity Commitment

Capital Dynamics is an Equal Opportunity Employer and is committed to creating a general diverse workforce. We are a global company with 24 nationalities represented across our staff in 14 offices, spanning North America, Europe, the Middle East, and Asia. We believe diversity and inclusion (“D&I;”) is key to being better at what we do, and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status or any other dimension of diversity.

We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics.

Please inform our recruitment team if you have a disability, condition or difference that may require us to make any adjustments as part of your application process or during employment.

Disclaimer

Due to the volume of applications we receive, we are only able to contact candidates who have been shortlisted for further consideration. If you have not heard from us within two weeks of submitting your application, please assume that your application has not been successful on this occasion. We appreciate the time you have taken to apply and encourage you to monitor our careers page for future opportunities.

📌 Associate, Clean Energy (Madrid)
🏢 Capital Dynamics
📍 Madrid