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 spent over three decades in key 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 for the better part of a decade.
Earlier in his career, Kellerman served as Sr. Managing Director at El Paso Corporation, where he developed a 6,000 MW fleet of highly profitable 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, and with Portland General Electric, where he became 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).