Fabrice Henry

A founding partner of Astris Finance, Fabrice Henry has served as Chief Executive Officer since 2009. He led the firm’s foray into new sectors such as renewable energy and extended Astris’ global reach to cover Latin America, Europe and Southeast Asia. He has advised on more than 100 infrastructure and energy projects at Astris, totaling more than USD 15 billion in investment.

With nearly 25 years of infrastructure experience, Fabrice has worked in a variety of roles, including financial advisor, M&A advisor, bond arranger and principal lender. Trained as a civil engineer, Fabrice began his career as project manager for a large Anglo-Asian construction company in Hong Kong. He joined the French Ministry of Infrastructure, where he worked as grantor representative on the first public-private partnerships for universities, hospitals and administrative buildings in the Paris region. Fabrice later went on to the Inter-American Development Bank (IADB) in Washington DC to act as infrastructure finance specialist, establishing and operating the institution’s municipal infrastructure finance group for Central America and Mexico. He then served as Global Head of Origination, Syndication and Principal Finance at Dexia in Paris, overseeing close to € 5 billion in yearly infrastructure and municipal bond underwriting and principal lending.

Fabrice received his graduate degree in pure and financial mathematics from Ecole Polytechnique, Paris, France (1988), as well as a master's diploma in civil engineering and urban planning from Ecole des Ponts et Chaussées, Paris, France (1991).

He is fluent in French, English, and Spanish, and conversational in German and Portuguese.

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Tobey Susan Collins

Tobey Collins is Managing Director of Structured Finance | Energy. In nearly 20 years in the power sector, Tobey’s transactional experience has spanned both the financing and sponsor sides of the negotiating table. She has worked in conventional and renewable energy as well as power distribution and transmission, both in the U.S. and across the Latin American region.

Prior to joining Astris in 2013, Tobey spent ten years leading transactional finance teams as a sponsor/owner of electricity assets. As Chief Financial Officer at AES Gener, Chile’s second largest generator with over 4,000 MW of installed capacity, Tobey led debt and equity capital raising activities of approximately $2 billion to support an aggressive expansion plan. As Managing Director of Restructuring at the AES Corporation, Tobey worked out and refinanced close to $3 billion of troubled debt at AES assets principally in Brazil as well as the Dominican Republic and Colombia. Tobey has also held senior finance roles at Lanco Solar in the US photovoltaic sector and Verdeo Group in the carbon trading space.

Before switching to the sponsor side, Tobey worked as a project finance banker and advisor. She worked for the Private Sector Department of the Inter-American Development Bank as an Investment Officer. She had previously worked in ABN AMRO Bank’s Project Finance team based in Caracas, Venezuela and in Sao Paulo, Brazil. She began her international project finance career at the Overseas Private Investment Corporation (OPIC).

Tobey graduated magna cum laude from Harvard University with a B.A. in Government and holds a masters degree from the Georgetown’s School of Foreign Service.

Tobey is fluent in English, Spanish and Portuguese.

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Jean-Marie Boudet

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Jean-Marie has joined Astris in January 2019 as Managing Director & Chief Operating Officer.

He has a wide experience of financial markets, combined with a specific expertise in infrastructure finance, both acquired through various positions in European financial institutions and the French public sector.

Jean-Marie worked on France’s first wave of PPP’s at the French Ministry of Infrastructure back in the mid-90’s, where he acted as delegate of the contracting public authority – central or local governments – on the construction and maintenance of large public buildings (hospitals / courts / universities) in the Paris region. He moved to Aéroports de Paris in 1997 and worked there as project director for the expansion of the Roissy-CDG airport until 2001.

Jean-Marie then worked in Dexia’s project finance group for 4 years, where he led the origination and execution of advisory and debt arranging mandates on infrastructure projects, with a specific focus on transport (airports, toll-roads, light rail). He then moved to Dublin, as a General Manager of the local branch, to manage the bank’s project finance and utilities bond portfolio. There, he was notably responsible for the successful synthetic securitization of a € 3bn portfolio of infrastructure and utilities wrapped bonds. By the end of 2008, as the financial crisis intensified, Jean-Marie was asked to take over the market risk function of the entire Dexia group, at the time a € 300bn+ balance sheet.

Jean-Marie left Dexia to join LCH as Chief Risk Officer in 2012. LCH, a subsidiary of the London Stock Exchange Group, offers clearing services globally for a full range of financial products including equities, rates and credit. Jean-Marie led a team of 30 risk professionals in charge of the risk strategy, policies and models, as well as the monitoring and mitigation of risks across the firm. He was also the firm’s key point of contact with French, EU and US regulators. As one of the two principals - alongside the CEO - he also oversaw the general support and control functions of the firm.

Jean-Marie holds a graduate degree in Mathematics from Ecole Polytechnique (Paris), as well as a master degree in Civil Engineering and Economy of Transport from Ecole Nationale des Ponts et Chaussées. He also holds  an MBA from “Collège des Ingénieurs”.

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Diane Weber

Diane Weber joined Astris Finance in 2013 from Verdeo Sindicatum, where she worked as the Finance Manager and was responsible for day-to-day accounting at both the corporate and project level. She worked closely with the Sindicatum Sustainable Resources Group Finance team in Singapore. Her primary responsibilities included fixed asset/project accounting, management of accounts payable and accounts receivable, monthly close and reporting activities in addition to audit, tax, budgeting, and human resource responsibilities.

Prior to Verdeo Sindicatum, Ms. Weber was a Senior Accountant at ContourGlobal, a power company that develops, acquires and operates electric power and district heating businesses, with a global presence in over fourteen countries spanning four continents. Before that, she was an Accountant at Softbank Capital, an independent venture capital firm that focuses on early stage high growth technology based businesses benefiting from the rapid deployment and adoption of broadband and mobile technologies. Diane has extensive experience in cash management, intercompany transactions and accounting for multi-million dollar acquisitions.

Diane holds a MBA from the F.W. Olin Graduate School of Business at Babson College and a BS in Business Administration, with concentrations in Finance and Management, from the University at Albany.

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Santiago Pardo

Santiago joined the Astris team in February 2016 as Managing Director. During his more than 20 years of experience he has developed a unique blend of experience encompassing both the corporate as well as banking perspectives, with a very strong expertise in project finance, debt/capital markets, M&A, project development and private equity. His industry expertise spans the oil & gas (pipelines, LNG, E&P), infrastructure (ports, toll roads), power (generation and transmission) and mining sectors.

Mr. Pardo began his career at Citibank Colombia in 1991, moving to New York in 1997 where he worked for 11 years at Citi’s Infrastructure and Energy Finance Group. From 2002 to 2008 he was the Director leading the team originating and executing transactions in Latin America, reporting directly to the global head of Infrastructure and Energy Finance. During this time, he was directly responsible for closing over 20 transactions in 12 different countries in the Americas, raising over USD 8 billion in funding from multiple sources (banks, international and local capital markets, ECAs and official agencies).

He moved back to Colombia in 2008, where he transitioned into the corporate side, serving as Project Finance Director for Reficar and Managing Director for Infrastructure and Energy of Abacus Capital, a local asset manager. Most recently (2014-2016), he served as CFO of La Luna Resources, an E&P company developing conventional and unconventional resources in Colombia. Prior to this (2011-2014), he was CFO of TGI, the largest natural gas pipeline company in Colombia. For these last two roles, he was selected as CFO by major private equity investors backing these companies and was responsible for corporate finance, investor relations, accounting, treasury, financial planning, M&A and new business development. He personally led the refinancing of TGI’s USD 1,125 million debt in the international capital markets, and assisted CVCI in their successful exit of this investment for USD 880 million.

Mr. Pardo holds an MBA (with distinction) from the Johnson School at Cornell University, as well as B.S. in economics from Universidad de los Andes in Bogotá.

He is fluent in both English and Spanish and conversational in Portuguese.

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Mai Pare


Mai is the in-house counsel for Astris with over ten years of experience in international corporate affairs. Prior to joining Astris, Mai served as legal counsel for the US operations of a multinational Japanese consumer products corporation, handling a broad range of general corporate matters, including intellectual property rights and contract negotiation. She was also a litigation associate at a large US law firm, where she represented Fortune 500 companies in US State and Federal Court.

Mai holds a J.D. from the University of California Hastings College of the Law, as well as an M.P.H. in Environmental Health Sciences from the University of California at Los Angeles. She is a member of the State Bar of California.

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Juan Francisco Toro

Juan Francisco began his tenure at Astris in 2005 by working on energy assignments and toll roads while located in Washington DC. In 2007, he was assigned to co-lead the Project and Structured Finance team of Dexia Mexico, before rejoining Astris in 2009 as a director focused on Energy and Export Credit projects.

Mr. Toro has extensive experience in structuring and financing energy deals. Over his 10 year career, he has successfully raised and arranged an aggregate in excess of USD 3.5 billion of long term financing for infrastructure and energy projects in Latin America, Middle East and Africa. Sectoral expertise includes power generation and transmission, oil and gas, and liquefaction and regas LNG facilities.

Over his professional career, Mr Toro has worked with multiple Export Credit Agencies and Bilateral institutions including US Ex-Im, Sace, OPIC, Coface, and ICO. During his recent tenor at Dexia Mexico, Mr. Toro sourced and executed over USD 800 million of non-recourse financing including several PPS projects (Mexican PFI) in the infrastructure and social sectors.

Prior positions include Vice President at Taylor-DeJongh, where Mr. Toro advised on power and energy projects scattered throughout Asia, Africa, and the Americas, and a three-year tenor at Lloyds TSB in Colombia as a Senior Foreign Currency Trader in charge of managing the foreign currency position of the bank.

Mr. Toro holds an MS with a concentration in international finance and energy from the School of Foreign Service at Georgetown University as well as a BA in economics and finance from Colombia's Universidad EAFIT. Mr. Toro is fluent in Spanish and English and proficient in French and Portuguese.

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Romain Papassian

Romain Papassian joined Astris in 2005 and worked on several transportation projects, including toll roads and mass transportation systems, prior to being reassigned within the Dexia Group where he spent three years until rejoining Astris in 2009. At Dexia, Mr. Papassian was in particular responsible for the origination, structuring and placement of infrastructure credits in Europe, with a focus on project finance and regulated corporates such as toll road operators, water and electricity utilities. Romain Papassian has been directly involved in the arranging and placement of more than USD 5 billion of debt in Europe and Latin America. At Astris, Romain Papassian has been involved in a variety of projects in Mexico, Brazil, Peru, Colombia and the Caribbean, with a specific focus on capital markets, securitization and agency financings. More recently, Romain led the teams behind the financing of the Kingston Container Terminal (Jamaica, 2016 - advising CMA CGM), the successful bid for the award of Via 40 (Colombia, 2016 - advising VINCI Concessions and Conconcreto), and the closing of the financing of Cerro Dominador (Chile, 2018 - advising EIG), LatAm first CSP plant, for which Romain had a central role on the structuring and syndication of c. US$ 1bn of financing. 

Mr. Papassian holds a BS/MS in infrastructure planning and finance from the Ecole Nationale des Ponts et Chaussées (ENPC, 2007) in Paris. He is fluent in French, English and Spanish, and conversant in Portuguese. 

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Thomas Innocenzi

Prior to joining Astris, Mr. Thomas Innocenzi spent two years within Dexia’s Debt Capital Market Group where he worked on several infrastructure and public finance transactions in Eastern Europe, Middle-East, Central America and the Caribbean. In addition to originating, structuring and arranging debt financing for infrastructure projects, Mr. Innocenzi was in charge of the marketing of structured products to public sector clients. Prior to joining Dexia, he served as Analyst in Société Générale’s Infrastructure Project Finance division, where he advised the French Ministry of Justice on the implementation of the first PFIs in France and closed one of the first large scale hospital PFI’s in France in 2006. Mr Innocenzi has directly worked on more than USD 5 billion of successful-closed transactions, either as advisor, arranger or bookrunner. 

Mr. Innocenzi holds a BS/MS in infrastructure planning and finance from the Ecole Nationale des Ponts et Chaussees (ENPC, 2007) in Paris. He is fluent in French and English and conversant in Portuguese.

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Hugo Virag

Mr. Hugo Virag has 18-year of M&A & project finance experience, most recently as Managing Director of the Infrastructure Group of StormHarbour in Asia-Pacific, a global and independent investment bank. Between 2007 and 2010, Hugo was senior manager of an infrastructure private equity fund sponsored by French Caisse des Depots et Consignations among other European financial institutions. Hugo started his career practicing law with the corporate and asset finance practice of international law firm Hogan Lovells  (1999 - 2005). 

Hugo has an extensive experience as principal, developer, financial and legal advisor across Asia-Pacific and Europe. His experience spans across real asset financing, with a specific focus on infrastructure/ transportation, power and renewable energy sectors, as well as downstream Oil & Gas. At StormHarbour, Mr. Virag was in particular responsible for the origination, structuring and placement of primary greenfield projects and secondary buy-sale transactions in the infrastructure sector, having been directly involved in connection with over USD 10bn of M&A and project finance advisory mandates across Asia-Pacific, and as such has acted as (i) co-lead advisor on the structuring of a USD 5bn refinery/petrochemical complex and associated marine infrastructure in Vietnam, for which a USD 40m ECA-backed development financing has been secured, (ii) originator and lead advisor on the successful placementto a Japanese investor of a AUD 50M senior debt financing tranche related to an Australian desalination plant, (iii) originator and lead placement advisor for the Asia-Pacific region in connection with the completed divestments of equity participations in two high profiletransportation assets in Europe and USA, or (iv) co-advisor on the structuring and arrangement of the winning bid for the construction of a portfolio of solar farms in Thailand. 

Hugo has received an MBA from the ESSEC & Mannheim Business Schools. He also graduated from the Law Schools of University of Virginia (USA) and University of Paris-La Sorbonne (France). Hugo is the co-President of the Energy and Infrastructure Committee of the French Chamber of Commerce of Singapore.

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Michael C. Sagcal


Prior to joining Astris Finance, Michael was Spokesperson and Communications Director at the Philippines’ Department of Transportation from 2012 to 2015. While concurrently serving as Senior Project Development Officer in 2013, he worked on special issues in the structuring and tender of the agency’s first set of PPPs: the USD 1.3 Bn LRT-1 Extension, the USD 340 Mn Mactan-Cebu International Airport, and the USD 34 Mn LRT-MRT Automatic Fare Collection System.

He spent two years at a law firm from 2010 to 2012, where his infrastructure and energy practice included acting as transaction advisor to the PPP Center and advising the National Renewable Energy Board in formulating the country’s landmark Feed-In Tariff Rules.

Michael earned his Juris Doctor degree from the University of the Philippines in 2009 and his Diploma in Corporate Finance from the Ateneo de Manila University in 2014. He also attended the PPP Foundation Masterclass Program at Her Majesty’s Treasury – Infrastructure UK as a Mansion House Scholar in 2012.

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Daniel Uzueli

Daniel Uzueli joined Astris in 2013 as Director based in São Paulo, coordinating Astris’ activities in Brazil. Daniel has over 15 years of experience in the Brazilian infrastructure industry.

Daniel began his career with the project finance team at Banco Votorantim (1998-2002). He then worked as an independent consultant and as Senior Strategic Manager at Alcoa (2002-2005), prior to joining Rio Bravo Infrastructure as a Senior Partner in 2005.

During his career, Daniel has been able to advise project developers in both M&A and project finance transactions. Daniel has had a lead role in securing financings for projects in a wide range of sectors including transportation (roads, subways, ports), power (thermal, wind, cogeneration, transmission lines, large hydro), sanitation, and accommodation PPPs (e.g World Cup Stadium PPP and Olympic Park PPP), among others.

At Rio Bravo, Daniel advised project sponsors in the context of several high profile tenders in Brazil, including the largest hydro projects (e.g the USD 15bn Belo Monte project, or the USD 5bn Jirau project), and participated in the preliminary studies of the USD 20bn RJ-SP High Speed Train.

Daniel holds a degree in Civil Engineering from the University of São Paulo (Escola Politécnica) and a post-graduate degree in Business Administration by FGV - Fundação Getúlio Vargas, São Paulo. Since 2009, Daniel has been an instructor in the Project Finance program for MBA students at FIA - Fundação Instituto de Administração in São Paulo.

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Gonzalo Ruiz de Angulo

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Gonzalo Ruiz de Angulo is Director of Structured Finance, Head of the Madrid Office. During his 15 years of professional experience, Gonzalo originated and executed domestic and cross-border Investment Banking transactions (including Project Finance, Project Bonds, Corporate Lending, M&A, LBOs, Restructurings, Recapitalizations or Treasury) in excess of US$25 bn (corresponding to more than 80 transactions globally), with a wide range of leading North American, Latin American, Asian and European public and private clients, across multiple sectors, including: conventional and renewable energy, power transmission, oil & gas, mining, water treatment, water transportation, waste to energy and PPP.

Prior to joining Astris in 2018, Gonzalo spent more than eleven years at BBVA leading origination and execution teams as structuring bank and financial advisor globally. Most recent position was Managing Director - Global Head of Energy Project Finance, and formerly was Head of Power Latam and Head of Renewables EMEA.

Gonzalo has also 3 years of experience on the developer side, at Enel Unión Fenosa Renovables, within the Finance Department, are that he headed. He Structured and restructured Project Finance deals and corporate financing in Spain and Portugal in the renewable energy field, for €600 million.

Gonzalo has a BD in Business Administration from the Universidad Complutense de Madrid. He is native in Spanish and fluent in English.

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Arnaud Germain

Arnaud joined Astris in July 2009 as Associate. Prior to joining Astris, Arnaud worked for French utility Electricité de France (EDF) in South East Asia where he was in charge of financial modeling and contract review in connection with several hydro and gas-fired power generation projects . With Astris, Arnaud has been involved in a number of M&A deals in the solar sector in France, working either as sell or buy side advisor to project developers and equity investors. 

Arnaud holds a bachelor degree in finance, and a MS in International Affairs from French ESLSCA. He is fluent in French and English, and conversant in German.


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Santiago Ramos

Santiago Ramos joined Astris Finance in 2010. Prior to Astris, Mr Ramos worked for Dexia Mexico as a project finance analyst where he was involved in the structuring and financing of several toll road projects and PPS projects (Mexican PFI) in different sectors (hospitals and water among others). In particular Santiago was the senior modeler for the 2008 Latin American Social Infrastructure Deal of the Year Ciudad Victoria Hospital and on the landmark road PPS Nuevo Necaxa-Tihuatlan. Santiago played a key role during several bidding processes and has acquired experience managing transactions from initial development until financial closing. Santiago holds an MBA from Instituto de Empresa of Madrid (IE, 2010) and obtained an Industrial Engineering Degree from Universidad Iberoamericana (Mexico City, 2006). He is fluent in English and Spanish. 

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D. Carl Prather

D. Carl Prather joined Astris in October of 2012 as an Associate. Prior to Astris, Carl spent three and a half years working as a Senior Analyst at EMP Latin America, the manager of the Central American Mezzanine Infrastructure Fund (CAMIF), dedicated to mid market mezzanine investments in renewable power, telecommunications, transportation, agribusiness, and water and sanitation sectors throughout the Central American region. Before joining EMP Latin America, Carl held an Analyst position at the Structured and Project Finance Division of the U.S. Export-Import Bank, working on infrastructure investments in various sectors across the emerging markets. Carl's core competencies are financial structuring, debt and equity negotiations, contract review, and financial modeling.

Carl holds a BA in International Affairs and Latin American Studies from Connecticut College and an MS in International Business and Finance at Georgetown University.

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Juan Fabregas

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Juan Fabregas joined Astris on November 2017 as Vice-President. He has 10 years of experience in project and corporate finance and has acted as lead arranger as well as financial advisor over the past few years. He joined Astris from BBVA, where he was a vice-president in the infrastructure and energy team. Juan spent 4 years at BBVA, including two in Chile working on Latin American projects (mainly in Chile, Perú, Colombia and Mexico), and two in Spain, where he worked intensely in the Spanish renewable market.

Prior to BBVA, Juan had spent four years at Crédit Agricole CIB in London, as an associate in the project finance team.  There, Juan worked on a host of infrastructure deals in the UK, continental Europe as well as the Middle East.

Juan has a master’s degree in Business Administration from the Francisco de Vitoria University in Madrid (2008). He is fluent in English, and Spanish and conversational in French and Italian.

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Florent Nicol

Florent joined Astris in February 2011 as Analyst. Prior to joining Astris, Florent was analyst at Veolia Water, where he worked in the Structured Finance department. At Veolia, Florent was in charge of financial modeling and contract review. In particular, Florent was the lead modeler supporting the team in charge of the acquisition by Veolia of a portfolio of European water BOT projects from United Utilities in June 2010. Florent was in charge of the review of the asset-specific financial models, and developed a proprietary consolidated portfolio model. Florent graduated from French leading engineering school Ecole Nationale des Ponts et Chaussées (ENPC) and holds an MS in Project and Structured Finance from that same school.

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John Hopkins


John Hopkins joined Astris in August 2018 as a Vice President in the firm’s Washington DC office. John has nine years of experience in the renewable energy industry as a principal investor and developer and joined Astris after spending six years at GE’s energy investing business, GE Energy Financial Services. John was most recently a Vice President at GE on the power and renewables team and led transactions for equity investments in wind and solar assets in the U.S. and Japan. Before GE, John worked for two years in the project development group at SunPower Corporation where he was focused on solar projects in the eastern U.S. Prior to SunPower John spent four years at Goldman Sachs on the company’s municipal bond and equities trading desks.

John brings strong core execution skills to Astris along with extensive experience in deal structuring, document negotiations, and financial modeling. He holds a BA in Economics from Yale University.

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Ben Koffel


Ben Koffel joined Astris in August 2018 as a Vice President in the firm’s Washington DC office. Prior to Astris Ben served as both a project developer and principal investor at Enel Green Power, with transaction experience in the Americas, Africa, and Asia.  In the US and Canada he managed project development and acquisition for wind and solar assets, bid-stage optimization, and several successful buy-side and sell-side M&A opportunities. Ben also spent two years working for Enel in Bogotá, Colombia, where he played a key role in greenfield development for some of Colombia’s first wind and solar projects and worked to open the country’s renewables market with regulators and developers.  As an extension of his M&A work at Enel, Ben led equity negotiations with pension funds and institutional investors for project and portfolio-level investments in Canada, South Africa, and India, as well as structured strategic development partnerships across North and South America.    

He holds a B.A. in Anthropology and a master’s degree in City and Regional Planning, both from Cornell University, and is fluent in English and Spanish.