Ygrene Energy Fund, a provider of residential, commercial and multifamily property assessed clean energy (PACE) financing, has appointed three finance veterans to manage growth, issue securitizations and support capital raises as the company expands to meet demand from institutional markets.
Ilan Gleiser joins as chief risk officer from Plural Bank, where he held the same roll and was responsible for managing the market and tail risk of $5 billion in 20 multi asset class funds. Previously, Gleiser was responsible for opening and leading Morgan Stanley's offices in Brazil.
Giancarlo Gennaro joins as senior director of finance. He was most recently at Cronos Group, where he 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 Corp. and KPMG, where he specialized in technical accounting and financial reporting.
Rasool E. Alizadeh joins as director of capital markets and asset-backed securities. He has a 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.
Previously at SMBC Nikko Securities America, where he 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.
. All three will report to Ygrene’s chief financial officer, 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," Chan said in a press release published this week. "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."
To date, Ygrene has attracted $795 million in capital.