PROJECT FINANCE PROFESSIONAL
PROFESSIONAL EXPERIENCE
FOREIGN BANK 2005-Present
A project finance lender focused on investments in power generation, renewable energy, and energy infrastructure projects.
Vice President 2005-Present
Responsible for identifying, evaluating and executing project finance investments in the power generation, renewable energy and clean technology sectors. Managed an investment team through origination, approval, due diligence, and closing.
• Closed investments in projects with an asset value of $500 million, contributing to overall team volume and fee income growth of 35% per year.
• Identified new investment prospects and technologies and managed the research, analysis and development of the investment case for potential opportunities.
• Advised renewable energy companies on the viability and financeability of their business plans and on financing structures and alternatives available to fund their projects.
INVESTMENT BANK 2003-2005
Firm is an investment bank focused on the energy, engineering, and environmental industries and provides merger and acquisition, capital placement, project development and financial advisory services.
Vice President 2003-2005
Originated and executed investment banking assignments, including:
• Structured, arranged and negotiated a $76 million debt and equity financing for a renewable fuels company. Worked with client in executing all phases of project development. Structured and negotiated key commercial contracts. Assisted client in preparing for an IPO on London Stock Exchange and served as interim CFO during the process. Raised capital to fund development period expenses.
• Advised on the formation and financing of a $105 million investment fund to develop and own a portfolio of renewable energy projects in North and South America.
• Advised a management team in the acquisition of a $40 million utility-owned energy services company they had previously managed. Performed financial and business due diligence and prepared valuation and financial analyses of the target. Developed and negotiated term sheets and letters of intent. Secured a private equity fund to finance the acquisition and growth plans.
FINANCIAL SERVICES SUBSIDIARY OF INDUSTRIAL COMPANY 1999 to 2003
Project finance lender that financed energy/utility infrastructure, power generation, and renewable energy companies. Company closed over $425 million in investments and was part of the $4 billion financial services subsidiary of an international industrial company.
Senior Vice President and Chief Underwriter 2000-2003
Vice President 1999-2000
Led all aspects of firm’s investment process from initial review and structuring through proposal acceptance to closing including managing due diligence, presenting the deal to the Investment Committee, negotiating and documenting the transaction, hedging and funding. Assisted origination team in sourcing and structuring investment opportunities. Managed the portfolio management process.
• Recruited by my former manager following his acquisition of a commercial finance company to develop a deal team and manage the underwriting and closing process.
• Built and led a 4-person team that evaluated, structured and executed 38 project financings with a value of $230 million. In the last year of operation the team closed $120 million, 120% of target.
• Part of a three member senior management team that developed and implemented a growth strategy leading to 48% annual growth in investment volume.
• Developed investment criteria and marketing plan to support the firm’s expansion into the renewable energy sector. Closed over $125 million of transactions in the wind and biomass sectors, establishing firm as a leading financier in the sector.
• Developed and managed a monthly monitoring process for portfolio companies. Supervised asset management staff in drafting quarterly monitoring reports and in analyzing credit issues.
PROJECT FINANCE GROUP OF ENGINEERING AND CONSTRUCTION FIRM 1994 to 1999
Project Finance assisted clients with all aspects of developing and financing their ventures, and worked with the CFO in corporate development and business planning activities.
Director, Project Finance and Development
Arranged financing for projects in the power generation, industrial, petrochemical and infrastructure sectors worldwide. Managed a deal team to analyze economic and financial feasibility, evaluate funding sources and options, develop financing strategies and plans, and arrange and execute financing.
• Raised over $900 million in debt and equity financing to support client projects. Directed the evaluation and structuring of investments by the company in client projects totaling $100 million.
• Managed a team identifying, screening, evaluating and executing development opportunities in the industrial, biofuels, chemical and power sectors. Efforts resulted in approval from a Middle East government to build a $1.2 billion aluminum project. Assisted client in developing and financing a $140 million ethanol project. Created concept and developed business plan for an energy services company targeting opportunities in the refining sector. Analyzed and negotiated a joint venture relationship with an international energy company to develop coal-to-liquids projects.
• Took over management responsibility of a distressed power project. Implemented operational improvements and reduced costs to bring the project to a breakeven position. Managed the divestiture of the project, recording a gain on sale in excess of target by 20%.
• Assisted in the acquisition of 3 engineering/construction companies with value totaling $200 million. Conducted initial strategic and financial screening of acquisition opportunities. Managed financial and valuation analyses and business, financial and industry due diligence on target companies. Developed framework for integrating financial and business development functions.
UNREGULATED UTILITY SIBSIDIARY 1992 to 1994
Company, a subsidiary of an east coast utility, had an equity investment of $400 million in a portfolio of 21 energy projects representing 650 megawatts.
• Co-led activities in raising $900 million of debt and equity financing for both conventional power projects and alternative energy (hydro, geothermal, solar, and biomass) projects.
• Managed the sale of equity interests in two power projects generating a gain of $20 million.
• Managed efforts to acquire development projects and power project portfolios including target screening, deal evaluation, and due diligence.
• Managed the project review and evaluation process for development opportunities with a value of $65 million, negotiated commercial arrangements, coordinated commercial and technical teams, and supervised the financial analysis and structuring.
PROJECT FINANCE GROUP OF INDUSTRIAL COMPANY 1989 to 1992
Project Finance provided financial advisory services to parent company clients developing projects in the energy, industrial, transportation and petrochemical sectors.
• Worked on a variety of financial transactions, including project financings, equity investments, leveraged leases and on various financial and project development advisory assignments. Assisted in originating, structuring, arranging, and executing over $850 million of debt and equity financings for power, industrial, waste-to-energy, and petrochemical projects worldwide. Developed financial models, assisted with due diligence, compiled industry and company data, and prepared investment memorandum and management presentations.
EDUCATION
Master of Business Administration, The University of Michigan
Bachelor of Science in Engineering, The University of Michigan
PRESENTATIONS/PUBLICATIONS
Infocast, Renewable Energy Mergers and Acquisitions Conference, April 2009
Infocast, Solar Power Project Financing Conference and Workshop, November 2008
Financial Research Associates, Renewable Energy and Investment Seminar, May 2008
Northeast Energy and Commerce Association, Renewable Energy Conference, March 2008
PREVIOUS EXPERIENCE
Previous experience includes increasingly responsible structural engineering and construction management positions with Sargent & Lundy, Chicago, IL.
CIVIC ACTIVITIES
MIT Enterprise Forum, Clean Energy Business Plan Competition Judge, 2005-2006
University of Michigan College of Engineering, Local Recruiting Representative, 2002-2008
Board Member, Town Economic Development and Industrial Corporation
Board Member, Town Green Advisory Board
LICENSES
NASD Series 7 and 63 |
