SANTA ROSA, Calif., Aug. 24, 2016 /PRNewswire/ -- Ygrene Energy Fund, the leading national provider of residential, commercial and multifamily property assessed clean energy (PACE) financing, announced today it has appointed three finance veterans to manage growth, issue securitizations and support capital raises as the company expands to meet demand from institutional markets. To date, Ygrene has attracted $795M in capital. All three will report to Ygrene CFO, Michael Chan.
"Over the last 24 months we've seen increasing demand from investors and agencies who see the exceptional credit quality of PACE and are eager to forge partnerships that can help them tap into these new market opportunities," said Ygrene CFO, Michael Chan. "Gleiser, Gennaro and Alizadeh bring the kind of structured finance experience and existing relationships that will help us scale as the market for PACE continues to ramp."
Ilan Gleiser, Chief Risk Officer. Responsible for managing the market and tail risk of $5B in 20 multi asset class funds in his previous role as Chief Risk Officer at Plural Bank, Gleiser also was responsible for opening and leading Morgan Stanley's offices in Brazil and will lead operational risk at Ygrene.
Giancarlo Gennaro, Senior Director of Finance. Most recently at Cronos Group, Gennaro was responsible for the global cash management function, maintaining working relationships with banks and investors, and managing liquidity through the origination and structuring of ABS term notes and various debt facilities. His previous roles included time at CSX Corporation and KPMG LLP, where he specialized in technical accounting and financial reporting.
Rasool E. Alizadeh, Director of Capital Markets and Asset Backed Securities ("ABS"). With deep background and contacts at rating agencies, banks, and investors both in debt and equity and 12 years of structured finance experience, ranging from restructuring, investor relations, deal structuring and execution, rating agency processes, and portfolio management, Alizadeh will focus on Ygrene's funding and liquidity needs. Previously at SMBC Nikko Securities America, Inc. Alizadeh was the senior banker responsible for the term ABS initiative focused on new issue origination in both on-the-run and off-the-run assets. Earlier roles include primary analyst at Standard & Poor's ABS rating services group focused on RMBS and esoteric mortgage related ratings, as well as five years at RBC Capital Markets, where he was an originator for both warehouse and balance sheet lending and term issuer/investor relationships.
"One of our key opportunities is helping investors and agencies understand the benefits of PACE and navigate through this dynamic market," said Stacey Lawson, CEO & President of Ygrene. "Ilan, Giancarlo and Rasool strengthen our core finance DNA, which has been, and continues to be, a prime differentiator as investors look to align with like-minded partners."
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, water conservation, and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and a healthier environment. Over the next five years, YgreneWorks is expected to create tens of thousands of jobs and invest billions of dollars into local economies. Learn more at ygreneworks.com.
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SOURCE Ygrene Energy Fund