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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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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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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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 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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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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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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Michael C. Sagcal

Michael is an infrastructure professional with 15 years’ experience in project development and transaction advisory, having worked on over 70 projects worth close to $16B across the transportation, renewable energy, water, telecommunications, and land reclamation sectors.

His work includes deal origination, market analysis, transaction structuring, and capital-raising. Notable projects he advised on in recent years include the $11B Sangley Point International Airport, the $1.6B Pasay Harbor City Land Reclamation Project, the $500M Lapu-Lapu Expressway, and a $147.5M minority acquisition in RE developer The Blue Circle.

From 2012 to 2016, Michael served as spokesperson and senior project development officer at the Philippines’ Department of Transportation, where he crafted key policies and worked on a pipeline of over 40 PPP projects, including the $1.3B Light Rail Transit Line 1 Cavite Extension, the $350M Mactan-Cebu International Airport, and the $33.5M Contactless Automatic Fare Collection System.

Prior to this, he advised the Philippine government on five big-ticket PPP projects as part of the Asian Development Bank-funded Project Development and Monitoring Facility of the PPP Center. These include the $150M New Bohol International Airport under the Netherlands’ Rebel Group and the $110M Philippine Orthopedic Hospital Modernization Project under Deloitte Touche Tohmatsu.

Michael holds an Executive Certificate in Economic Development from the Harvard Kennedy School, a Diploma in Corporate Finance from the Ateneo de Manila University, and a Juris Doctor degree from the University of the Philippines. He has also completed executive programs in corporate sustainability at University of Oxford’s Saïd Business School and in PPPs at HM Treasury-Infrastructure UK, where he was a Mansion House scholar.

Michael is a Fellow of the Institute of Corporate Directors and a Global Opinion Leader on the Povaddo Panel. He is also a member of the Project Finance Institute and the Integrated Bar of the Philippines.

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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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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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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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Damien Dupa

Damien joined Astris in June 2014 as an Associate. Prior to joining Astris, Damien spent one year in Natixis's Project Finance group in Paris where he worked on arranging debt financing for infrastructure projects. Damien spent then two years in Mazars Paris Structured Finance team advising private and public clients on several infrastructure and PPP projects (defense, water, hospital, universities, roads and airports). Damien has been involved as lead modeler or in charge of model audit in numerous transactions.

Damien holds an M.S. in International Project Management from business school ESCP Europe and in Banking, Finance and Commodity Trading from University of Bordeaux IV. Damien is fluent in French, English and Spanish, and conversant in Portuguese.

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Rafael Estrela

Rafael Estrela joined Astris in June 2013 in the São Paulo’s office. Prior to joining Astris, Rafael spent two years in Private Equity at Artesia, where he led several buy-side investment analysis of companies in a wide range of different sectors, such as consumer goods, health care services, education and agribusiness, as well as assisted senior management during several acquisition processes. Prior to his tenure with Artesia, Rafael worked at Standard & Poor’s, performing corporate credit risk analysis. At Astris, Rafael has been very active in the energy sector in Brazil: he has been involved as lead modeler and assisted throughout execution of several M&A and project finance transactions in the transmission line and power sectors. Rafael also participated in cross-border M&A transactions in the same sectors.

Rafael holds a BS in Industrial Engineering from Federal University of São Carlos (UFSCar). He is fluent in English, Spanish and Portuguese.

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Diana Marroquin

Diana joined Astris in January 2015. Prior to Astris, Diana worked at Structure Banca de Inversión in Bogotá. At Structure, Diana participated as financial director of a variety of projects, including the structuring of infrastructure concessions for the public sector (airports, roads, etc.), and the valuation of companies and projects in the energy and gas sectors.

Diana holds a BS in Business from the Los Andes University. She is fluent in Spanish and proficient in English.

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