Shyam Shirke
Mumbai
Summary
Impact Investment professional with 17+ years' experience in Renewable Energy, Waste Management, Water, and Circular Economy projects. Successfully originated, structured, and delivered high-impact investments in Asia and Africa with a cumulative deal value of $3 billion. Proficient leader in managing diverse investment teams, overseeing a varied renewable portfolio, and advising on exits.
Overview
17
17
years of professional experience
Work History
Head of Merger & Acquisitions
Green Growth Equity Fund
2021.11 - Current
- Spearheaded M&A in waste management, resulted in fund commitment of aggregate $138 million for setting up 20 greenfield Compressed Biogas (CBG) projects across municipal solid waste, agriculture and agro-industrial waste
- Managed entire acquisition of 2 waste recycling companies with deal value of $ 10 MM; structured deal to ensure potential upsides and mitigation of downside risks, negotiated SPA and SHA
- Implemented revenue enhancement and cost optimization strategies, resulting in 10% increase in annual revenue and 5% boost in EBITDA for portfolio; boosted levered IRRs ~5% by raising $33 million limited recourse cost effective debt with long tenors
- Championed strategic joint venture initiative with one of India's largest sugar companies to set up 2 CBG projects on industrial waste with capital investment of $25 million; structured deal resulting in optimized feedstock cost, tax efficiency, exit flexibility and robust contractual obligations
- Orchestrated strategic sale of 49% equity stake in CBG portfolio with valuation of $ 55 MM to industry-leading players to facilitate company's growth and strategic alignment in energy sector
- Led quarterly portfolio valuations across business verticals, leveraging advanced valuation models to assess and report on financial performance of investment portfolio
- Drove sustainability integration, positively impacting ESG performance across 5 SDGs, and earning recognition as leader in sustainable investments.
Director, Investment Banking & Asset Management
Faber Capital Private Limited
2013.01 - 2021.11
- Developed and executed comprehensive investment strategy resulting in successful green energy portfolio development generating over 50 MW of sustainable energy including solar farms, C&I rooftop, and biomass energy
- Delivered 13% $ IRR on investment of $ 18 MM in utility scale solar PV project, engaged in entire deal life cycle from origination to exit by asset sale to institutional investor
- Served as lead on cross-functional deal team, responsible for sourcing, due diligence, negotiations, and closing $60 million investment in waste-to-energy project, with blended finance from multilateral institutions and senior debt from lenders
- Utilized network of industry contacts including 25+ DFIs, government agencies, to originate leads and secure investments, resulting in 30% increase in deal flow.
Senior Manager, Investment Banking
Edelweiss Capital Limited
2011.10 - 2012.12
- Orchestrated successful pitch efforts for potential mandates and business opportunities in renewable energy sector and leveraged relationship-building skills with key stakeholders
- Advised two renewable energy developers to raise $13 million debt for solar PV projects, demonstrating understanding of techno-commercial analysis and debt structuring
- Directed $12 million leveraged buyout of solar PV portfolio consisting of module manufacturing plant and power plant, displaying due diligence expertise, debt sizing capabilities, and valuation skills.
Manager, Project Finance
Apraava Energy Pvt. Limited (formerly China Light & Power)
2009.10 - 2011.09
- Nurtured and managed pivotal lender relationships, skillfully coordinating debt disbursements and executing currency swaps to shield against FX volatility
- Achieved financial closure for 1320 MW Thermal Power project, securing INR 55 billion in funding from consortium of 14 financial institutions
- Slashed financing cost by 1.5% annually by raising $288 million term loan from consortium of five distinguished foreign banks to refinance INR debt.
Assistant Manager, Project Finance
Gammon Infrastructure Projects Limited
2007.04 - 2009.09
- Executed financial viability analysis and risk assessment of potential acquisition of Industrial Water Supply project of 30 MLD capacity valued $ 13 MM in India on BOOT basis
- Played key role in IPO deal team for successful completion of $50 million fund raise; undertook valuations, reviewed prospectus, and coordinated with Legal Counsel and Bankers
- Achieved Financial Closure for two greenfield annuity road projects valued at $180 million, showcased effective financial structuring and negotiation skills.
Education
CFA - Portfolio Management
CFA Institute
USAChartered Alternate Investment Analyst - Alternative Investments
CAIA Association
USAChartered Accountant - Finance
Institute of Chartered Accountants of India
IndiaMBA - Finance
Welingkar Institute of Management
IndiaSkills
- Deal origination
- Due-Diligence & Structuring
- Commercial and Legal Negotiation
- Financial Modelling and Valuation
- Portfolio & Stakeholder Management
- Fund Raising
Timeline
Head of Merger & Acquisitions
Green Growth Equity Fund
2021.11 - Current
Director, Investment Banking & Asset Management
Faber Capital Private Limited
2013.01 - 2021.11
Senior Manager, Investment Banking
Edelweiss Capital Limited
2011.10 - 2012.12
Manager, Project Finance
Apraava Energy Pvt. Limited (formerly China Light & Power)
2009.10 - 2011.09
Assistant Manager, Project Finance
Gammon Infrastructure Projects Limited
2007.04 - 2009.09
CFA - Portfolio Management
CFA Institute
Chartered Alternate Investment Analyst - Alternative Investments
CAIA Association
Chartered Accountant - Finance
Institute of Chartered Accountants of India
MBA - Finance
Welingkar Institute of Management
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