The senior members of Cranmore Partners have been involved in almost every single water and power project financing in the Middle East and Africa region over the last 15 years. Having served in diverse roles as project developers, advisers to bidders or, procuring authorities, and as lenders, the Cranmore Executive Team brings to the table a uniquely well-rounded understanding of the project lifecycle. We will therefore provide you with pure unbiased analysis, and our recommendations will be geared towards achieving the most favourable outcome for your bid situation. As senior ex-bankers, we also bring unique insight into banks’ processes and considerations. Our sole mission is to achieve superior and differentiated capital terms for our clients on their strategic transactions across the power, water and wider infrastructure sectors.
Yusuf Macun has over 20 years’ experience in energy and infrastructure finance and investments, with a focus on the power, water, renewables and oil & gas verticals. His impressive track record includes the successful closing of cross-border deals in excess of c. USD 20bn over 35 transactions in a range of emerging and developed markets, particularly the Middle East and Sub-Saharan Africa.
Before founding Cranmore Partners in 2017, Yusuf held a variety of leadership roles including Global Head of Project & Commercial Finance at Abu Dhabi National Energy Company (TAQA). and Head of Power &Renewables for Europe and Africa at HSBC London, where he advised governments and companies on a wide range of transactions across EMEA in verticals including wind, solar, coal/oil/gas-fired thermal and nuclear power generation. He also gained valuable transaction experience and expertise in prior roles at the Emerging Africa Infrastructure Fund, Lazard and Flemings.
Yusuf is a graduate of HEC Paris (Grande Ecole) and holds a Master’s Degree in Engineering & Computer Science from ENSIMAG in Grenoble.
Phone: +971 50 81 84 821
Richa has 17 years’ experience in energy and infrastructure project financing in the EMEA and Asia regions, with a particular focus on emerging markets and products utilising both debt and capital markets. Prior to joining Cranmore Partners, Richa was Executive Director and Head of Power, Utilities, Metals and Mining for the EMEA region at Sumitomo Mitsui Banking Corporation (SMBC). Richa has strong experience in financial structuring, debt underwriting and arranging, project and acquisition finance, derivatives structuring and managing specialist advisors during performance of due diligence roles.
During her tenure with SMBC, Richa successfully closed in excess of 40 transactions across Europe, the Middle East, North Africa and Asia in sectors ranging from power generation, water desalination, wastewater treatment, district cooling and air separation to metals and mining, regulated networks and the telecom sector. Prior to SMBC London, Richa worked with SMBC in Asia on various financial advisory transactions, including the Singapore power privatisation, advising sponsors on a light rail transport project in Manila and a water pipeline project between Indonesia and Singapore. Prior to SMBC, Richa worked in Investment Banking at Merrill Lynch in Hong Kong and in India in the TMT sector on various M&A transactions.
Richa is a qualified Electrical Engineer from Delhi University and holds an MBA with specialisation in finance from the Indian Institute of Management.
Steven has over 18 years’ project finance experience in the energy and infrastructure sectors across Europe, Middle East and Africa. He has successfully closed in excess of 30 transactions, as either a financial advisor or lender.
Prior to joining Cranmore Partners, Steven was a Senior Director in the Power & Advisory Team at Mizuho Bank, London, with primary responsibility for all project finance lending and financial advisory activities in the power, water and wastewater sectors in the Middle East over the past 12 years.
Steven has led the financial advisory teams on some of the most groundbreaking transactions in the Middle East in recent years and most recently led the advisory teams (financial, legal and technical) advising Saudi Water Partnership Company on their Round 1 ISTP programme and National Water Company of Saudi Arabia on their proposed privatisation.
Steven holds Master of Financial Management, Graduate Diploma of Accounting and Bachelor of Business (Accounting) degrees from Central Queensland University. Steven is a CFA Charterholder.
Nick is an energy and infrastructure finance expert whose previous roles include being a director responsible for originating and executing European power and renewables business for the HSBC Project Finance team, working on over USD 40bn of projects. Nick has significant international experience in originating, advising, assessing, structuring and negotiating major project finance transactions for greenfield and operating projects across all classes of infrastructure, asset and lending sources throughout EMEA.
Within the power space, he has worked across a range of different technologies on renewables projects (onshore and offshore wind, solar and biomass), thermal power projects (nuclear, gas, coal), and power infrastructure (inter-connectors, smart meters) with private and public clients.
Prior to HSBC, Nick trained and qualified as a chartered accountant at KPMG in London working with financial services sector clients. Nick holds a BSc (Hons) in Economics from the University of Bristol.
A co-founder of Cranmore, Kenny is one of the leading financial modelling experts in the global project finance market. He has trained over 1,000 modelers from the world’s leading commercial and investment banks, top-tier accounting firms, infrastructure funds and project developers. As a project finance practitioner for over 16 years, he is also a leading modeler on transactions and has played a significant role in the development of financial modelling standards over the past 10 years. He has made media appearances as a financial modelling expert on leading news and business channels including BBC, CNN, and CNBC.
He has served as Cranmore’s Head of Financial Modelling & Analysis since 2016 and has been CEO of the modelling consultancy Gridlines since September of 2018. Since the start of his tenure at Cranmore, Kenny has advised on a range of projects for clients including Joule Africa, Neoen, JGC Corporation, Trina Solar, Al Jomaih, CNIM, GIC, EdF EN and Masdar.
From 2011 to 2015 he was the managing director of F1F9, following the merger of his training business, Financial Mechanics, with F1F9 in 2010. During his time as the head of F1F9, he grew revenue by 300%.
Prior to Financial Mechanics, he was an Associate Director of Deloitte Corporate Finance from 2005 to 2007 and Manager of KPMG Corporate Finance between 2001 and 2005. Kenny holds an MBA with the High Honours Award from Université Libre de Bruxelles and an MA in Psychology from the University of Aberdeen.
Danny spent the last 15 years in financial modelling both as an advisor with top tier accounting practices including EY and Grant Thornton and as leader of the modelling team in a leading Financial modelling consultancy.
Danny is a qualified accountant and expert financial modeller.
Mrugank Inamdar has over 10 years of experience in energy and infrastructure development, financing, investments and M&A. He has led projects on both the sponsor and the financial advisory sides, managing transactions in Asia, Africa, Europe and South America.
Prior to joining Cranmore Partners, Mrugank was first a member of and then a consulting sector expert to the Investment Banking Team at Sumitomo Mitsui Banking Corporation (SMBC), focussed on the APAC region. At SMBC, he was instrumental in securing and executing mandates for major airport, road and renewable energy projects.
Prior to SMBC, Mrugank worked with VINCI Concessions in France, and supported project development, acquisition and financing for airport and road projects across Asia and Africa. Before that posting he also served as International Project Finance Director at Solairedirect (now Engie Solar), supporting development and overseeing financing for solar projects worldwide.
Mrugank holds an MBA (with Distinction) from INSEAD, a Masters degree in finance and economics from XLRI Jamshedpur and a Bachelor’s degree in electronics and telecommunications engineering from the University of Pune.
Orhan has 13 years’ experience in project & acquisition financing and corporate restructurings across various different industries with particular focus on energy. He had leadership roles in multiple landmark origination and restructuring transactions in the Turkish market during his career with Garanti BBVA.
Prior to joining Cranmore Partners, Orhan led the Acquisition Finance Desk under the Project & Acquisition Finance department of Garanti BBVA covering the leveraged buyout transactions, all project finance transactions in sectors other than energy and infrastructure and all corporate syndication transactions.
Orhan has strong experience in financial structuring, debt underwriting and arranging, project and acquisition finance, documentation, and negotiation. He has successfully closed over 45 transactions with a total loan amount of USD12.5billion in sectors ranging from power generation & distribution, private healthcare, telecoms, retail, manufacturing, fuel distribution, and packaging.
Within the power space, he has experience on different technologies on renewables projects (hydro, onshore wind, geothermal and biomass), thermal power projects (gas, coal), and power infrastructure (electricity and gas distribution).
Orhan also had significant restructuring experience during his career with Garanti BBVA. He has played an active role in many large restructuring transactions including the top 3 restructurings in the Turkish market such as Ojer Telekom (the former controlling shareholder of Türk Telekom), Doğuş Holding, and Yıldız Holding.
Prior to Garanti BBVA, Orhan was an Analyst with ING Bank Turkey Corporate Banking unit, where he was responsible for the shot-term general lending products of corporate clients including some of Turkey’s largest conglomerates.
Orhan has a Master’s degree in Economics from the University of Maastricht, the Netherlands.
Emre has 8 years’ experience in project financing and corporate finance with a focus on energy sector. He had leadership roles in multiple landmark origination and restructuring transactions in the Turkish market during his career with Garanti BBVA & Garanti BBVA Securities.
Prior to joining Cranmore Partners, Emre led the Corporate Finance department at Enerjisa Uretim (largest IPP in Turkey) mainly responsible for the refinancing of the project finance loans of the company. Before Enerjisa Uretim, Emre worked as Corporate Finance Manager of M&A Energy Desk at Garanti BBVA Securities.
He has successfully closed over 20 equity and debt transactions with a total deal amount of USD 9 billion in sectors ranging from power generation, electricity distribution & retail, oil & gas, and mining.
Emre has strong expertise in financial structuring, underwriting, arranging, LMA & Turkish Law governed documentation, financial modeling, corporate finance, mergers & acquisitions covering various technology classes (solar, geothermal, coal, gas, wind, hydro, biomass, distribution and retail) within the power space.
Prior to Garanti BBVA, Emre was an Analyst with Cofarco SAS, Paris where he was responsible for the financial modeling, KYC, term sheets.
Emre has a Master’s degree in Finance from Neoma Business School, Rouen, France and BSc in Economics degree from Dokuz Eylul University, Turkey.
Meishi has 7 years of experience in the finance and energy space, in both transaction advisory and strategy consulting capacities, and has particular expertise in the renewables and solar market. Since joining Cranmore, she has worked on a wide range of infrastructure financial advisory mandates including sponsor bid support, project financing, and project valuation and M&A.
Prior to joining Cranmore, Meishi was Senior Consultant at Berlin-based cleantech advisory Apricum where she focused on renewable energy project finance and strategic advisory in the solar value chain. Her work included M&A advisory, due diligence on emerging technologies, international partner search, feasibility study, business plan development/modeling, and corporate and venture fundraising.
Prior to Apricum, Meishi was an Analyst with the investment banking division at Citigroup in Hong Kong.
Meishi holds a MSc. In Sustainable Development from HEC Paris and a BBA (Honours) from the National University of Singapore.
Halil has 9 years’ project and structured finance experience in the energy sector, over the course of which he successfully executed c.USD3.5 billion in project finance and mezzanine finance transactions. He has realized deals with multilateral development banks, investment authorities and local Turkish banks.
Previously, Halil has worked as Project Finance Assistant Manager at Zorlu Energy Group, one of the biggest energy conglomerates in Turkey, for 4 years. During this time, Halil coordinated the “full cycle” of deal execution, reviewing financial, commercial, legal, environmental & social, technical and other relevant due diligence reports with relevant internal and external teams across many transactions. He participated in negotiation & execution of term sheets, facility agreements, security documents, transaction structuring and rating studies of group companies. He worked very closely with C-level management in Zorlu, especially with the CFO. He has also worked together with the strategy team on various M&A deals in the group.
Halil has MSc. degree in Financial Engineering and a BS. degree in Mathematics both from Boğaziçi University. Halil has also achieved CFA certification. He was 904th among the 1.6 million students of his class in the National University Entrance Exam in Turkey.
Görkem has 7 years of advisory experience in project finance and capital & debt transactions in sectors including power & utilities, infrastructure, healthcare, transportation and conglomerates.
Previously, Görkem worked as Capital and Debt Advisory Manager in EY Transaction Advisory Services Turkey. During this time, Görkem provided project finance raising advisory, financial restructuring advisory, bid advisory, financial modelling, business modelling and financial model review services.
Görkem holds a bachelor’s degree from Istanbul Technical University, Management Engineering Program, Turkey. He has ranked first on his graduation from both the program as well as the Management Faculty with a 3.87/4.00 GPA.
Puroo Soni has more than 7 years of experience in Project Finance (Bid advisory and Procurement advisory) , Capital Raising and M&A.. Formerly, Puroo held similar roles at Synergy Consulting, Deutsche Bank and Moody’s
Puroo has worked on a varied range of transactions across geographies including Oman, KSA, Qatar, US and Europe. He has been actively involved in various aspects of a transaction including financial modelling, transaction structuring, project documentation, financing and bid optimization.
Puroo holds an MBA (Finance) from IIM Kozhikode and Bachelors in Finance from Delhi University.
Kaan has over 5 years’ advisory experience mainly in financial modelling and transaction advisory, on both sell-and buy-side. His sector focuses include energy, healthcare, infrastructure, mining and manufacturing, and he has advised clients including private equity firms, corporates and governments.
Prior to joining Cranmore, Kaan worked in KPMG Turkey as Deal Advisory Manager, where he was modelling advisor on projects across his focus sectors, in relation to investments, debt refinancing we well as negotiations with relevant government authorities.
Within the power space, he has broad experience across technologies from renewables (hydro, onshore wind, geothermal and biomass) and thermal power (nuclear, gas, coal) to power infrastructure (electricity and gas distribution). Within the healthcare space, he has in-depth experience in healthcare PPP projects in Turkey.
Kaan was also modelling advisor to landmark infrastructure and manufacturing projects such as the early closure compensation valuation of Istanbul Atatürk Airport, at its time the largest airport in Turkey; and the capacity expansion of Sasa, leading polyester-based product manufacturer in Turkey.
He has also participated in various sell-side and buy-side financial and business due diligence mandates supporting clients in bespoke transaction structuring.
Kaan has a BSc. (Honours) in Industrial Engineering from Bilkent University, Turkey.
Umang has spent the last 8 years delivering financial modelling assignments across abroad range of sectors.
Before joining Cranmore, Umang worked for EY, PWC and F1F9. Umang is an IT graduate with Postgraduate Diploma in Management.
Adi has spent the last 9 years in financial modelling, primarily within infrastructure.
Before joining Cranmore, Adi worked in the financial modelling teams of KPMG and F1F9. Adi is a Business graduate with Postgraduate Diploma in Finance.
Riadh Ben Khalifa
Riadh is a highly experienced advisor and financial modeller.
Prior to joining Cranmore, he had a senior role in a leading constructor in Europe where he had a rich hands-on experience covering not only modelling but also financing, tariff negotiation, M&A and bid management.
Liam is a financial modelling expert with 10 years of experience in developing and reviewing financial models.
He has worked in model building and auditing capacities on projects in a wide range of sectors including transport, power, renewables, oil and gas, water, utilities, education and healthcare both in the UK and internationally.
Nitin has over 8 years of rich and diverse experience in project finance, infrastructure and energy financial modelling.
Prior to joining Cranmore, Nitin had a senior role with Mazars Infrastructure and Energy team where he managed and delivered several operational and transactional models for renewable energy, power and infrastructure businesses.
Nitin also specialises in the development of Excel add-ins and VBA tools.
Priya is a financial modelling expert with more than 7 years of experience in developing and reviewing financial models for infrastructure and energy projects.
Before working as a Senior Manager at Cranmore, Priya spent 7 years with Mazars as a Project Finance modelling manager, she has managed and delivered several operational and transactional models in social infrastructure, transport, renewables and power sector.
Graeme has 5 years of financial modelling and 7 years of business and finance experience working for Fujitsu Services, Sopra Steria and BDO.
Graeme has a degree in accounting and finance and is experienced at building cost and FP&A models.
Before joining Cranmore, Saumya worked in the Business Modelling Team of KPMG where she specialized in the Real Estate and Telecoms sectors.
She is a commerce graduate with a postgraduate degree in Finance.