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.
AllCore PrincipalsExecution TeamModelling Team
Managing Partner

Yusuf Macun

Partner

Yigit Arslancık

Partner

Richa Prasad

Head of Financial Modeling

Kenny Whitelaw-Jones

Executive Director

Nick Sinden

Co-Head of Financial Modeling

Danny Leitch

Director

Orhan Tanrıverdi

Executive Director

Konstantinos Kotoulas

Executive Director

Junghyun Jun (JJ)

Manager

Halil Ersu

Manager

Görkem Muştu

Manager

Puroo Soni

Senior Associate

Siva Samhit

Senior Associate

Berkay Yildirim

Manager

Ahmet Fazlıoğlu

Senior Associate

Beri Haravon

Associate Director

Umang Agarwal

Associate Director

Aditya Gupta

Associate Director

Priya Sardana

Senior Manager

Dr. Bert Van Pol

Manager

Himanshu Broota

Manager

Rajat Basal

Senior Analyst

Deepak Dalal

Analyst

Saumya Goel

Managing Partner

Yusuf Macun

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.

Email:yusuf@cranmorepartners.com

Phone: +971 50 81 84 821

Partner

Yigit Arslancık

Yigit has 22 years’ experience in investment banking having worked in the US, UK, UAE and Turkey.

Yigit joined Cranmore Partners in September 2021 and has been one of the most prolific senior dealmakers in the GCC and previously in EMEA region, especially with Sovereign Wealth Funds and previously with Financial Sponsors. His deal experience includes origination and execution of over 100 transactions across advisory (combined deal value of +$50bn), debt and equity capital markets, and structured finance products. At the same time, Yigit has assumed senior management roles with HSBC and Citibank, where he has been a Managing Director since 2009.

Prior to joining Cranmore Partners, Yigit was the Head of Wholesale Banking at HSBC Turkey, serving a client base of 3,000 entities and leading a team of 230 people. Prior to that, Yigit worked in the GCC region with HSBC for 8 years where he started with building up the Sovereign Wealth Fund team advising clients on their alternative investment transactions across M&A and ECM spaces, and his responsibilities expanded continuously whereby his last role was Co-Head of Global Banking for the GCC. region.

Prior to HSBC, Yigit worked at Citigroup, London in their investment banking team. Having joined as an Associate in 1999 and left in 2010 as a Managing Director, he worked in the Financial Sponsors Coverage team and gained extensive experience in origination and execution of M&A, ECM and various Leverage Finance products in the EMEA region.

Yigit has an MBA from Stern School of Business, New York University and a Bachelor’s degree in Business Administration from Bogazici University, Turkey.

Partner

Richa Prasad

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.

Head of Financial Modeling

Kenny Whitelaw-Jones

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.

Executive Director

Nick Sinden

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.

Co-Head of Financial Modeling

Danny Leitch

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.

Director

Orhan Tanrıverdi

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.

Executive Director

Konstantinos Kotoulas

Konstantinos Kotoulas has over 15 years experience of investing in and financing infrastructure projects globally and across sectors. He has completed equity investments of more than $3bn and has raised over $11bn of debt to fund infrastructure projects.

For the past 6 years Konstantinos led a project finance and development team at Saudi Aramco, structuring, financing and executing infrastructure investments from concept to close (power, renewables, oil & gas concessions).

Recently, he has also been independently advising the World Bank Group on climate mitigation, adaptation and resilience for infrastructure and PPP investments, financings and procurement.

Prior to Aramco, Konstantinos spent 10 years as a financial advisor and financier, based in London, focusing on energy and infrastructure concessions and PPPs. He has held senior roles with Commonwealth Bank of Australia, Sumitomo Mitsui Banking Corporation and Ernst and Young.

Konstantinos holds a MPhil in Industrial Systems, Manufacturing and Management from Cambridge University and a BEng in Industrial Engineering from the Technical University of Crete.

Executive Director

Junghyun Jun (JJ)

Junghyun Jun (JJ) is an experienced project financier from South Korea. With various roles in number of landmark and market-setting deals with Korean footprint globally. He has been mostly in energy and infrastructure financing fields, worked at diverse organizations including Korean and international firms over 20 years.

Prior to Cranmore, JJ was at Offshore Wind Task Force of KEPCO as Finance Manager for 2.5GW projects initiative across the country. Covering funding, investment & commercial aspects, he initiated and led various tasks interfacing with global players (joint developers and major contractors) as well as Korean stakeholders.

Prior to KEPCO, JJ worked as Korea Head, Infrastructure and Real estate Group of HSBC. He led Seoul team and contributed in achieving top position with over 40 deal closings in 11 years. Mainly in cross-border financing deals for Korean-outbound deals across sectors of power, renewables, petrochemical and shipping. With structuring of project finance, PPP/sovereign, structured ship financing and hybrid-corporate deals

Prior to HSBC, JJ worked at BNP Paribas as Director, Export and Project Finance. Worked in many advisory and structuring deal teams, his assignments included marketing, due diligence, documentation works. JJ contributed to top bank position with over 25 deal closings and pioneered many important landmark projects such as successful closing of the first Wind Project Financing in Korea.

He holds an MBA from McGill University in Canada and a Certified Investment Manager by Korea Financial Investment Association.

Manager

Halil Ersu

Halil has around 11 years’ project and structured finance experience, over the course of which he has successfully executed c.USD3.5 billion in project finance and mezzanine finance transactions.

Previously, Halil  worked as an Assistant Manager, Project Finance 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.

Halil holds a MSc. degree in Financial Engineering and a BS. degree in Mathematics both from Boğaziçi University. Halil has also received the CFA certification. He was 904th among the 1.6 million students of his class in the National University Entrance Exam in Turkey.

Manager

Görkem Muştu

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.

Manager

Puroo Soni

Puroo has more than 9 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 Middle East, Europe and Africa. 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.

Senior Associate

Siva Samhit

Siva has more than 3 years of experience  in Project Finance (Bid advisory and Procurement advisory), Financial Modelling and Transaction Structuring. Formerly, Siva held a similar role at Synergy Consulting

Key skills include financial modelling, transaction structuring, project documentation, financing and bid optimization

Siva formerly held a similar role at Synergy Consulting.

He is an MBA from IIM Indore.

Senior Associate

Berkay Yildirim

Berkay has over 5 years of experience in Corporate Finance, Investment Management and Strategic Advisory. Berkay has worked on a significant number of investment banking projects including M&A, fundraising and valuation studies in various sectors including energy, basic industries and consumer goods.

Prior to join Cranmore Partners, Berkay worked for ONX Capital and TSKB | Industrial Development Bank of Turkey

Berkay also completed several training programs and internships within various financial institutions in the UK and Turkey

Berkay holds a BA in Business & Finance (Major) and Economics (Minor) from Heriot-Watt University, United Kingdom

Manager

Ahmet Fazlıoğlu

Ahmet has more than 7 years of experience in corporate finance, project finance, and restructuring. Advised many companies from various sectors including infrastructure, power & utilities, healthcare, real estate, and transportation.

Prior to joining Cranmore, Ahmet was Project Finance Manager at EY where he was providing fund raising advisory, financial restructuring advisory, bid advisory, financial modelling and financial feasibility services.

Prior to EY, Ahmet was Corporate Finance Executive in ICA which is the concessionaire of 3rd Bosphorus Bridge and the Northern Ring Motorway in Turkey.

Senior Associate

Beri Haravon

Beri Haravon is an experienced corporate finance professional with more than four years of experience in project finance. His experience includes work with state authorities, large national corporations, banks, and financial institutions.

Before joining Cranmore Beri was working for KPMG as an financial modelling manager. His responsibilities included building the financial model and leading the discussions with the lenders. He has worked more than 15 projects and he has a deep expertise on the structure of City Hospital PPP’s.

Associate Director

Umang Agarwal

Umang has excellent competence in the field of financial modelling and VBA with over twelve years of rich experience in working across different industries like energy infrastructure, desalination, utilities, oil & gas, mining and transport infrastructure. He has successfully supported clients all across the globe by providing robust and flexible financial models.

Umang has 2 years of experience in government side advisory for transport infrastructure in India. He has handled the responsibility of providing Bid modelling support on many projects including rolling stock project in UK, greenfield airport advisory in India etc.

Umang is managing a team of financial modellers and has also contributed to the development of the FAST financial modelling standard. He has been a member of the training team delivering Project Finance modelling training to corporates in Middle East countries and has also delivered Project Finance modelling training to 40 team members at PwC.

Associate Director

Aditya Gupta

Aditya has spent the last 15 years in financial modelling, primarily within the infrastructure space. Before joining Cranmore, Adi worked in the financial modelling teams of KPMG and F1F9. Adi is a Business graduate with Postgraduate Diploma in Finance.

Associate Director

Priya Sardana

Priya has excellent competence in the field of financial modelling and VBA with over 9 years of experience in working across different sectors like energy, transport, power, utilities and social infrastructure. She has successfully supported clients all across the globe by providing robust and flexible financial models.

Before working as an Associate Director at Cranmore, Priya spent 7 years with Mazars as a Project Finance modelling manager where she managed and delivered several operational and transactional models spanning from transport, renewables, power and social infrastructure sector.

Senior Manager

Dr. Bert Van Pol

Bert is financial modelling expert with more than six years of experience in developing and auditing financial models for infrastructure and energy projects.

Prior to working as a Senior Manager at Cranmore, Bert spent 6 years with Operis as a Manager. At Operis, he led audits as well as built and looked after the development and delivery of various operational, transactional and portfolio models. His experience covers projects in the renewables, social infrastructure, transport, and utilities sectors and stretches across projects in Europe, North America, Africa and the Middle East.

Bert holds a PhD in Physics from the KU Leuven in Belgium.

Manager

Himanshu Broota

Himanshu has over 4 years of cumulative experience in Project Finance (Financial Modelling, Bid advisory and Procurement advisory), Capital Raising and M&A. Formerly, Himanshu has held similar roles at Synergy Consulting and HSBC

Manager

Rajat Basal

Rajat is a financial modelling expert with more than 4 years of experience in financial modelling and audit financial models for infrastructure and energy projects.

Key skills include financial modelling, financial model audit, VBA tools.

Senior Analyst

Deepak Dalal

Deepak is a project finance modeler with over 4 years of experience in renewables, infrastructure, and power & utilities sectors.

Formerly, worked as a senior financial modeler at F1F9, on various project finance transactions and FP&A assignments.

Analyst

Saumya Goel

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.