Raymond James expands renewable energy investment capabilities, adding seven professionals from TReK Capital Partners
ST. PETERSBURG, Fla. – Raymond James is expanding its tax credit and impact investments capabilities by adding the entire team from TReK Capital Partners. The addition of this team will strengthen the firm’s efforts in the renewable energy investment space. Joining the Raymond James Renewable Energy Investments team, these professionals will build on the strong renewables tax credit business created by the firm’s industry-leading Affordable Housing Investment tax credit syndication group in recent years.
The firm expanded its deep knowledge base to include renewable tax credits as the housing tax credit deals grew to include syndicating associated solar credits. This expansion into the renewables tax credit business in recent years bolsters the platform of services and investments available to investors, making Raymond James a leader in the tax credit asset class.
“After almost 40 years of syndicating housing tax credits, an increasing number of our deals incorporated renewable energy syndications as well,” said Steve Kropf, president and CEO of Raymond James Affordable Housing Investments. “After steadily growing our presence in renewables, we realized there was a greater need in the space that we could serve by bringing aboard the TReK team’s expertise. They’ve been tremendous partners for over a year, and we’re pleased to formally welcome them to our team.”
Joining Raymond James Renewable Energy Investments from TReK Capital Partners are:
- Todd Velnosky, managing director
- Ross Maynard, managing director
- Kit Hazel, managing director
- Oliver Olsen, vice president - renewable energy
- Dustin Mayer, vice president - asset management
- Danny D’Nagy, manager
- Brendan Kelly, manager
All are based in the greater St. Louis area and have expertise in a variety of renewable energy technologies, including wind, solar, storage and more.
“After partnering with Raymond James on multiple renewable energy syndications in a year’s time, we quickly realized a lot of synergies and that we had similar client-centric philosophies and corporate cultures,” said Todd Velnosky, managing director. “It made a lot of sense to join them as they worked to strengthen their expanding capabilities. We look forward to growing the renewable energy, syndication and direct investment businesses at Raymond James.”
At Raymond James, these professionals will have an arsenal of tax credit structures to address a wide range of investor preferences in the market. Given the experience of the team, all technologies will be under consideration for investment, allowing the firm to truly tailor opportunities to investors’ investment criteria.
Raymond James has deep expertise syndicating tax credit and impact investments after entering the business of sponsoring subsidized housing in 1972 and formalizing the function as a business unit in 1988.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.59 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.