Key Takeaways
- • Altus Power (NYSE: AMPS) appointed Richard A. Shapiro, a former hedge fund partner and current family office CIO, to its Board of Directors, with Shapiro named chair of the Compensation Committee.
- • Shapiro brings nearly three decades of investment management experience and has served as Founder and Chief Investment Officer of Ridge Run Partners, LLC, a family office firm, since 2021.
- • Previously, Shapiro was a Portfolio Manager at Millennium Management and a Partner at Wexford Capital, both multi-billion dollar hedge funds.
- • CEO Gregg Felton said the company will continue to optimize its financing and enhance its capital structure as it scales its solar asset portfolio.
Summary
Altus Power, the Stamford, Conn.-based provider of commercial-scale clean electric power, announced that Richard A. Shapiro has joined its Board of Directors. Shapiro will chair the Compensation Committee, according to the company's press release distributed by Business Wire.
CEO Gregg Felton said the appointment supports the company's position as the largest player in commercial solar and its plans to scale its portfolio of solar assets while optimizing financing and enhancing its capital structure. Christine Detrick, Chairperson of Altus Power, said Shapiro's track record in finance, mergers and acquisitions, and unlocking value in companies at various stages complements the existing Board's skill set.
Shapiro said his capital markets background and experience advising high-growth companies would add perspective to the company's strategy. He brings nearly three decades of investment management experience and restructuring and turnaround experience from the Board level. Since 2021, he has been Founder and Chief Investment Officer of Ridge Run Partners, LLC, a family office firm. He previously was a Portfolio Manager at Millennium Management, where he focused on equity investments, and a Partner at Wexford Capital, both multi-billion dollar hedge funds.
Shapiro holds an MBA from Georgetown University and a BS in Business Administration from the University of Southern California. He has served on the boards of public companies Elah Holdings and Orion Energy Systems, Inc., where he also sits on the compensation committee, and CDON AB.
CEO Gregg Felton said the appointment supports the company's position as the largest player in commercial solar and its plans to scale its portfolio of solar assets while optimizing financing and enhancing its capital structure. Christine Detrick, Chairperson of Altus Power, said Shapiro's track record in finance, mergers and acquisitions, and unlocking value in companies at various stages complements the existing Board's skill set.
Shapiro said his capital markets background and experience advising high-growth companies would add perspective to the company's strategy. He brings nearly three decades of investment management experience and restructuring and turnaround experience from the Board level. Since 2021, he has been Founder and Chief Investment Officer of Ridge Run Partners, LLC, a family office firm. He previously was a Portfolio Manager at Millennium Management, where he focused on equity investments, and a Partner at Wexford Capital, both multi-billion dollar hedge funds.
Shapiro holds an MBA from Georgetown University and a BS in Business Administration from the University of Southern California. He has served on the boards of public companies Elah Holdings and Orion Energy Systems, Inc., where he also sits on the compensation committee, and CDON AB.
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