MANAGEMENT TEAM

Our management team brings unparalleled experience in utility management and operations, power infrastructure development and optimization, and the commercialization of innovative energy technologies.

Larry Kellerman

Managing Partner

Larry Kellerman is Managing Partner of TFC Utilities, where he is responsible for firm-wide strategy and direction in the assessment, structuring and implementation of regulated utility acquisitions and their value-accretive operation and optimization. Kellerman’s deep industry knowledge and consistent track record of delivering strongly above-market returns through creating and deploying innovative commercial approaches, while fully embracing the time-proven regulated utility construct, positions him to be a highly effective leader of this investment platform that focuses on the customer-centric evolution of the investor-owned electric utility business model.

Kellerman has deep experience approaching four decades of leadership roles within the electric utility, power generation and independent energy industries. He has managed, acquired, constructed and restructured over 25,000 MW of conventional and renewable generation assets.  Most recently CEO of Quantum Utility Generation, a private equity-funded, independent power company, Kellerman was previously Partner at Goldman Sachs and President of the firm’s on-balance sheet electric power business within the firm’s Commodities Division, where he was hired to build the asset base and operations from the ground up.  His power generation business grew to include 5,265 MW at its peak and was one of the most profitable business initiatives within Goldman during his tenure

Previously, Kellerman ran El Paso Corporation’s independent power business, where he developed a 6,000 MW fleet of highly profitable, fully contracted North American power generation assets.  He was founding President of Citizens Power, the nation’s first independent power marketing enterprise, leading the firm from its start-up through its eventual highly profitable sale. He began his career with electric utilities Southern California Edison, where he negotiated some of the first PURPA contracts in the nation, followed by Portland General Electric, where he was General Manager of Power Supply, Power Marketing and Fuels.  He holds a BA, Management, from the University of California, Davis (cum laude, Phi Beta Kappa) and an MBA from West Coast University, Los Angeles (summa cum laude).

Peter L. Corsell

Managing Partner

Peter L. Corsell is an entrepreneur and investor known for successfully bringing emerging technologies to market. MIT’s Technology Review recognized him as one of the world’s top innovators under age 35, the World Economic Forum named him a Young Global Leader, and the National Association of Corporate Directors included him on its inaugural list of leading directors under 40.

Corsell is Managing Partner of Twenty First Century Utilities, a private investment firm dedicated to acquiring and transforming regulated electric utilities. He is responsible for implementing the firm’s investment thesis of generating excellent long-term returns, while implementing smart grid and distributed clean energy technologies within the traditional regulated utility model.

Corsell is also Chairman of GridPoint, which he founded in 2003 and led as CEO until 2010. GridPoint developed an innovative smart grid platform to facilitate increased adoption of distributed energy technologies by aligning the interests of electric utilities, consumers and the environment. GridPoint has evolved into an established cleantech leader, enabling businesses, utilities and governments to maximize energy savings and environmental sustainability. The company has deployed more than 500,000 connected devices and has saved its customers over $400 million and 5 billion kilowatt-hours of energy.

In 2011, Corsell cofounded Hubub, a digital platform for individuals and publishers to discuss and debate topics of interest. In partnership with Bell Media, Hubub developed a large following in Canada, where it was featured in a 2015 Super Bowl commercial. In 2016, Hubub was acquired by The Stagwell Group and was renamed Stagwell Tech.  Corsell is currently Senior Advisor to The Stagwell Group.

Corsell has been a board member and investor in several technology companies, with a focus on big data analytics and enterprise software. He has been interviewed on Charlie Rose and featured in several books including Hot, Flat, and Crowded by Tom Friedman, Perfect Power by Robert Galvin and Kurt Yeager, Earth: The Sequel by Fred Krupp, The Clean Tech Revolution by Ron Pernick and Clint Wilder, and Our Woman in Havana by Ambassador Vicki Huddleston.

Earlier in his career, Corsell served with the Central Intelligence Agency and with the U.S. Department of State in Havana, Cuba. He holds a BSFS degree from the Edmund A. Walsh School of Foreign Service at Georgetown University.

Gizman Abbas

Managing Director, Capital Markets

Gizman Abbas is responsible for the financial structuring of transactions, designing and implementing tax-optimized and cost-efficient capital structures, as well as interfacing with capital providers for financing, and supporting the Managing Partners in equity fund raising.  He is responsible for assuring that TFC Utilities, and its transactional initiatives, have access to a broad range of capital sources under terms and conditions and at costs that are consistent with the risk-return value proposition of the activities being financed. He brings a deep background in the financing and financial optimization of energy and natural resource firms, and worked as a central member of Mr. Kellerman’s highly successful power asset team at Goldman Sachs.

Abbas has led natural resources investment and development operations for some of the world’s leading financial institutions, leaning on his combined expertise in finance and engineering. Abbas was a founding partner of the commodity investment business at Apollo Global Management, one of the largest private equity businesses in the world with more than $160 billion under management. Previously, he was Vice President at Goldman Sachs, within the firm’s Commodities Division, where he was a core member of the power asset organization, and subsequently worked within the Global Principal Investments group and invested successfully in the natural resource, mining, and agriculture sectors.

Abbas began his finance career in the investment banking division at Morgan Stanley, having previously been a Senior Project Engineer on oil & gas construction projects for Exxon Mobil Corporation and a Power Engineer at Southern Company. Abbas, also a successful real estate developer, holds a BS, Electrical Engineering, from Auburn University and an MBA from the Kellogg School of Management at Northwestern University.

Dan Bautch

Managing Director, Acquisition and Asset Management

Dan Bautch is responsible for assuring that TFC Utilities possesses intelligence on target utilities; modeling, financial information mining, data room management, utility project records management, deck creation, due diligence & post acquisition asset management necessary for successful acquisition and subsequent management of target utilities.   He oversees TFC Utilities’ modeling and quantitative analysis efforts. He is responsible for managing and assuring the integrity and effectiveness of the firm’s investment analysis and evaluation tools. Bautch is additionally responsible for implementing metrics and modeling criteria from the assessment and diligence stages into the planning and budgeting systems after acquisition, ensuring results that equal or surpass the expectations of all stakeholders.

Bautch is a longtime collaborator with Larry Kellerman and leader of major investments and transactions in the power generation sector. He previously led Topaz Power Management’s acquisitions, divestitures and development strategies as Senior Vice President, being a principal in the spin-merger to form Talen Energy, which was at the time the third largest publicly-traded independent power producer in the United States.  As Vice President in Goldman Sachs’ Commodities Division, working alongside Kellerman and Abbas, Bautch was a key executive in the small team that grew the power asset business from scratch to 5,265 MW.

At El Paso Corporation, Bautch supported Kellerman’s North American power generation business enterprise, directing a group of over ten analysts and associates in performing detailed analytics that supported Kellerman’s M&A and restructuring activities.  He holds a BS, Mechanical Engineering, from the University of Notre Dame and an MBA from the McCombs School of Business at The University of Texas at Austin.

Mike Chapin

Managing Director, Integrated Resource Planning

Mike Chapin is responsible for leading TFC Utilities efforts to substitute fuel free utility and community scale generation for retiring fossil fuel generation when cost effective.  He has primary responsibility for the management, oversight and value optimization of generation in each operating utility’s portfolio. Chapin’s significant experience base in developing and operating utility and independent power assets provides him with the skill set necessary to assure disciplined management and effective risk management.

Chapin has over 35 years of transactional, operating and development experience across all major North American power markets. He was previously President of Capstone Power Development Corp. in Vancouver, B.C., and Founding Shareholder and Executive Vice President at GreenWing Energy Management Ltd.  Over his career, Mike has led the development and acquisition of more than 6,000 MW of clean energy (wind, solar, and thermal natural gas) projects in North America, including the 100 MW St. Leon Wind Energy Project in Manitoba, the 99.5 MW High Plains Wind Energy Project in Wyoming, and the sale of a 1,400 MW portfolio of wind projects located in California, Nevada, Colorado, New Mexico and North Dakota. He began his career with electric utilities TransAlta and ATCO Power, as a power engineer in their generation plants.  He holds a Bachelor of Applied Science Engineering Degree from the University of British Columbia.

Denis Curran

General Counsel

Denis Curran is responsible for oversight, management and performance of all legal and legal risk management matters related to the firm’s commercial activities. Curran oversees commercial, financial and compliance related aspects of the TFC Utilities corporate initiatives as well as within the TFC Utilities operating utilities.

Curran was most recently Executive Vice President and General Counsel of GridPoint, where he was responsible for the company’s legal affairs. Previously, he was Vice President and Assistant General Counsel at Neustar, a provider of clearinghouse and directory services to the global communications and Internet industry. There he managed legal operations relating to corporate and securities matters, including M&A and financing activities, SEC compliance, and corporate governance. Earlier in his career, Curran spent nearly seven years at Gibson, Dunn & Crutcher, where he represented a wide range of business organizations on corporate securities, corporate finance, fund formation, and M&A matters. He also served as clerk for The Honorable Carlos F. Lucero on the U.S. Court of Appeals for the Tenth Circuit, and is a member of the California, District of Columbia and Virginia bars. Curran holds an AB, Politics, from Princeton University and a JD (highest honors) from The George Washington University Law School.

Adrian P. De Luca

Managing Director, Renewables

Adrian De Luca is responsible for designing and implementing TFC Utilities’ Million Rate Base (MRB) platform providing utility customers an opportunity to choose ‘behind the meter’ energy service from independent vendors through a customized tariff on their bill and on no one else’s. De Luca relies on his deep experience in innovative, technology-platformed energy management, monitoring, and supply companies to help select sustainable technology partners and programs to serve the needs of utility stakeholders.

De Luca has over 15 years of experience leading marketing, sales and application engineering teams. Previously, he was Executive Vice President of Sales and Marketing at Locus Energy, an Internet of Things software business and provider of SaaS-based solutions for the renewable industry. As part of the founding team, he helped the company grow to become the largest independent provider of asset monitoring solutions in the United States. In 2015, Locus Energy was acquired by Genscape, a leading global provider of real-time data and intelligence for commodity and energy markets. De Luca was also a member of the founding team at GridPoint, where he was the company’s first Vice President of Sales and Marketing. He began his career as an analyst on the investment banking services team at Thomson Financial, leading the convertible bond data products team. De Luca holds a BA, Economics, from Pomona College.

Ken Floyd

Managing Director, Utility Operations

Ken Floyd is responsible for achieving excellence in traditional utility operations in distribution, transmission and generation.  He is also responsible for identifying and nurturing potential utility acquisition opportunities.  TFC Utilities will use a ‘back to basics’ approach to achieve excellence in traditional utility operations and management.  Managers will be empowered with clear guidance, concrete expectations, and meaningful consequences for performance.  Program areas will be managed to established budgets and within cost controls.  TFC Utilities will mine for opportunities to adopt efficiencies that reduce cost without sacrificing customer satisfaction.  Employees will be valued and nurtured in an open, transparent and collaborative work environment.  Floyd’s deep experience in utility customer service, customer operations, and distribution management give him a singularly insightful perspective on the customer experience and how to optimize utility operations for both distribution-only and fully integrated electric utilities.

Floyd is a 25-year veteran of the utility industry and has achieved industry recognition for significantly improving upon legacy utility business models by driving costs down and improving customer and employee satisfaction. Floyd was most recently Partner at Utilligent, a utility management consulting company working with public power agencies and investor-owned utilities. Floyd was Vice President, Marketing and Customer Solutions, for Xcel Energy, where he led a division of 1,800 employees across eight states, including all of marketing, customer care, demand management, and “meter-to-cash” functions. Floyd held senior executive positions in distribution and customer service at Sacramento Municipal Utility District and Pacific Gas & Electric, where he began his career. He holds a BS, Management, from Golden Gate University and an MBA from St. Mary’s College.

Hayes Nuss

Managing Director, Administration

Hayes Nuss is responsible for all corporate functions and communications as well as overall TFC Utilities financial health and investment risk management.

Nuss has approximately two decades of experience in finance, investments and risk management. Previously, he was a Partner and Managing Director at Strategic Investment Group, an investment management firm with $32 billion under management. There he was responsible for client investment policies where he worked with clients to develop investment strategies that aligned with their business risks and objectives. He managed the teams responsible for investment analytics and risk, led the redesign of front and back office systems, and conceived new methods to assess portfolio risk across multiple asset classes. He began his career as a naval architect on Department of Defense projects, focusing on the forensic analysis of structural failures in ships. He holds a BS, Aerospace Engineering, from Virginia Tech, an ME, Mechanical Engineering, from the University of Virginia, and an MBA from the Wharton School at the University of Pennsylvania.

Cheryl Roberto

Managing Director, Utility Transformation

Cheryl Roberto is responsible for advancing utility of the future policies, operations, technologies and governance.  She will lead internal facing efforts to transform utilities by advancing four separate and distinct, but inter-related, workstreams, each of which is critical to overall utility transformation.  The four workstreams are: Grid Optimization; Decarbonization of Utility-Scale Fleet; Implementation of TFC Utilities’ Million Rate Base Market Platform; and Achieving Sustainable Business Value.  She will also advance TFC Utilities’ utility of the future views and transformation of the electric industry externally in Utility of the Future initiatives and industry transformational efforts.

Roberto has extensive executive level experience in utility operations, energy regulation and public policy.  Roberto led the City of Columbus, Ohio Department of Public Utilities. As CEO of the city’s four utilities, including a robust and growing electric utility division, she managed a team of over 1,300 employees and established and successfully managed a $2.5 billion dollar capital engineering and construction program.  Following her successful upgrading of the Columbus utility system, Roberto was tapped by the Governor of Ohio to serve as Commissioner of the Public Utilities Commission of Ohio (PUCO) , where she was Co-Chair of the 2012 National Electricity Forum. In 2013, Roberto received the Inspiring Efficiency Leadership Award presented by the Midwest Energy Efficiency Alliance to the organization or individual within a thirteen state region who has demonstrated exceptional leadership in support of energy efficiency. She then led the Environmental Defense Fund (EDF) Clean Energy Program, a national initiative dedicated to modernizing the U.S. energy infrastructure through regulatory reform. Prior to joining PUCO, Roberto is also an experienced environmental litigator who has served as an Ohio Assistant Attorney General and an Assistant General Counsel for the Commonwealth of Pennsylvania. She holds a BA, Political Science, from Kent State and a JD from The Ohio State University.

Joe Garcia

Principal, Political and Regulatory Affairs

Joe Garcia is responsible for specific initiatives and assignments related to his core areas of expertise in electric utility regulatory policies and practices, administrative law as applied to regulated utilities and political relationships. Garcia supports the team’s activities in assuring alignment of the policies and key focal areas of the firm with the stated interests and objectives of regulatory agencies and representative stakeholder and constituency groups.

Garcia served as Chairman of the Florida Public Service Commission and oversaw the regulation of all investor-owned public utilities within the state.  During his tenure on the FPSC, he was Chairman of the National Association of Regulatory Utility Commissioners.  Additionally, he served as the  second Vice Chair of the Southeastern Association of Regulatory Utility Commissioners.  Garcia was a US Congressman serving the 26th District of the State of Florida, a district encompassing parts of Miami-Dade  and Monroe counties in South Florida.  He was nominated by President Obama and confirmed to serve in the US Department of Energy as Director of the Office of  Minority Economic Impact and Diversity.  Garcia holds an BA, Political Science and Public Affairs, from the University of Miami and a JD from The University of Miami School of Law.

Todd M. Raba

Principal, Utility Management

Todd Raba will mentor the senior-most executives at the operating utilities within the TFC Utilities portfolio. Raba’s broad-ranging experience as a utility and industrial enterprise Chief Executive Officer provides him with the managerial skill set and pattern recognition to optimize utility management within TFC Utilities’ purview.

Raba has more than 30 years of experience leading large, highly competitive organizations to value creation. Raba was the CEO of the MidAmerican Energy Company, serving as the initial leader of Berkshire Hathaway Energy’s first utility acquisition.  MidAmerican Energy is Iowa’s largest electric and gas utility, with revenues in excess of $3.2 billion and more than 3,500 employees. Raba initiated the transition of the utility from a coal-based generation fleet to a low cost, clean, significantly renewable platformed operation, while simultaneously keeping rates charged to customers flat and materially increasing corporate profitability to meet and exceed the Berkshire Hathaway targeted returns. Previously, Raba was Chairman, President and CEO of Johns Manville (also a  Berkshire Hathaway company), a $2.5 billion global manufacturer and marketer of premium-quality building products with over 6,500 employees.  In that role he reported directly to Warren Buffett. He was most recently President and CEO of GridPoint, where he oversaw strategy and operations, and earlier in his career, Raba was Regional Vice President of Rollins Environmental Services. Raba currently serves on the Board of Directors of the Midwest Independent System Operator (MISO).  Raba holds a BS, from the University of Vermont.