September 17th, 2015
Please join the New York Association for Energy Economics when we welcome Ken Kramer of Rushton Atlantic at our monthly NYAEE Luncheon on Thursday, September 17, 2015. Please note: this lunch is a week later than our usual second Thursday of the month.
Prior to the dramatic recent growth of Yieldcos, renewable energy financiers believed that their best hope of access to the public equity capital markets would be through Real Estate Investment Trusts (REITs) and/or Master Limited Partnerships (MLPs). Both of these structures are exempt from corporate level taxation, with their earnings taxed only at the investor level, but to date, neither vehicle is permitted unrestricted equity ownership of renewable generation assets. This presentation compares structures, tax treatment, legal issues and economics of Yieldcos, REITs and MLPs, and how they might compete for renewable energy issuers and investors if permitted to do so.
Ken Kramer has over 30 years' experience in structured asset finance, valuation consulting, banking and corporate treasury. He is a co-founder and Managing Director of Rushton Atlantic, LLC, a boutique valuation advisory firm specializing in the energy, infrastructure, manufacturing and transportation sectors. The firm provides specialized valuation services supporting structured and project financings, acquisition due diligence, insurance placement, financial reporting, tax compliance, and restructuring.
Ken is also member of the steering committee of the US Department of Energy Future of the Grid initiative, and of the Renewable Energy & Energy Efficiency Advisory Committee to the US Secretary of Commerce. Prior to his affiliation with Rushton Atlantic, Ken was Managing Director at American Appraisal Associates, Inc. as the co-founder and co-head of its Structured Finance Group, the leading valuation practice serving the cross-border leasing industry. Before entering the valuation industry, Ken launched and managed leasing businesses, as both principal investor and financial advisor, at Credit Lyonnais and the Long-Term Credit Bank of Japan, Ltd. He also held positions in corporate finance in Capstar Partners, Bank of America, and TWA, and was a mechanical design engineer at Gibbs & Cox.
Ken holds a BS in mechanical engineering from Cornell University, and an MBA from Columbia University. He has made numerous speeches and delivered guest lectures in the United States and Europe on renewable energy finance and due diligence in structured finance and mergers and acquisitions, and he has written articles for a variety of financial industry publications.
DATE: Monday, November 3, 2014
TIME: 12:00pm - 2:00pm
VENUE: Tonic (Upstairs), 727 7th AVE at 49th Street | Google Maps