Syncarpha Capital is a New York based private equity firm dedicated to developing, owning and operating commercial and utility scale photovoltaic (PV) solar energy systems throughout the United States and Canada. Co-founded by Cliff Chapman and Richard Turnure, the firm was launched to capitalize on the tremendous opportunities in the alternative energy sector and to create a vehicle for investing in assets with long duration, excellent credit quality and high risk adjusted returns.
Partnering with experienced solar developers, installers, engineers and EPC contractors, Syncarpha Capital designs and builds on-site solar systems for municipalities, utilities, and businesses. The goal is to minimize risk and maximize return in an arrangement where total project success benefits all parties.
Syncarpha Capital currently operates 100 megawatts (MW) of ground mounted and rooftop solar assets in New Jersey, Massachusetts, New York, North Carolina, South Carolina, Nevada, Vermont, and Arizona. Syncarpha developed and sold an additional 16 MW of ground mounted solar assets in Massachusetts & New Jersey. Syncarpha has additional projects currently under construction in Massachusetts, New Jersey & New York.
At Syncarpha, our management team has over 50 years of investment management, renewables and operating experience. Our knowledge of the solar supply chain and project development gives us broad access and critical insight into this expanding market.
MANAGING PARTNER AND CO-FOUNDER
Cliff Chapman is Co-Founder and Managing Partner of Syncarpha Capital. He is a professional investor, entrepreneur and business executive seeking to capitalize on the tremendous investment opportunities in the alternative energy sector.
Previously, he was head of investment banking for Broadband Capital, a boutique investment bank. He directed all aspects of deal sourcing, banking, structuring and due diligence for transactions, raising in excess of $1 billion over three years.
Prior to that, Cliff was CEO of mindSHIFT Technologies, a managed services provider focused on IT outsourcing for SMEs. He led a turnaround during which the company completed two capital raises and three acquisitions—and became one of the leading players in the utility computing business with a revenue run-rate of over $120 million. The company was substantially sold to BestBuy in 2011.
From 1998 to 2000, Cliff was senior executive for AppNet, a publicly traded internet professional services company, where he led the integration of 12 acquired companies.
Before that, he was COO of NMP, an internet business consulting company that he co-founded and sold to AppNet. In a five-year period, Cliff grew NMP from a staff of five to more than 200 and saw revenues increase 300%.
He also worked at Booz Allen & Hamilton and Andersen Consulting.
Cliff earned his Master’s of Business Administration with Honors from Columbia Business School and his Bachelor’s of Science in Computer Engineering from Lehigh University.
MANAGING PARTNER AND CO-FOUNDER
Richard Turnure is Co-Founder and Managing Partner of Syncarpha Capital. He is a professional investor with 15 years of experience in fundamental long/short equity hedge funds. He co-founded the company post-Credit Crisis to leverage his deep knowledge of alternative energy and create a vehicle for investing in assets with longer duration, better credit quality and higher risk adjusted returns.
Prior to Syncarpha Capital, Richard co-founded Miura Global Management LLC, a global equity hedge fund. During his tenure at Miura, Richard served as Co-Portfolio Manager and Head of Research where he was responsible for identifying new research areas, non-correlated returns and multifaceted risk management. Under his leadership, Miura experienced an asset growth from $5 million to over $3 billion.
From 2002 to 2004, Richard was the Portfolio Manager of Washington Asset Management. Prior to that, he was the Technology Portfolio Manager of Ridgecrest Partners. He also worked as an analyst at Manley Fuller Asset Management and Furman Selz Asset Management.
Richard earned his MBA from Columbia Business School and his BA in History from Columbia University.
Ferd Convery has provided legal services to renewable energy development companies for more than twenty years, and has advised clients in regard to virtually every type of acquisition, divestiture and financing transaction in the wind, solar and geothermal sectors.
Ferd’s work includes the negotiation of key contracts related to the development of power projects, such as site control, permitting, interconnection, equipment supply, construction, and power and renewable credit sale agreements. Ferd has also acted as the lead counsel in a variety of transactions involving the purchase and sale of power projects during the development stage and after achieving commercial operation, as well as corporate and project finance transactions.
Prior to joining Syncarpha, he was an equity partner at Reed Smith, LLP and resident in the firm’s Princeton, New Jersey offices for more than seventeen years.
Ferd has a Masters in Taxation from New York University School of Law, a Juris Doctor degree from Rutgers School of Law and a Bachelor of Arts degree from Yale University.
LISA MASTRONARDI, CPA
CHIEF FINANCIAL OFFICER
Lisa Mastronardi is the Chief Financial Officer of Syncarpha Capital. She has over 20 years of business experience.
Prior to joining Syncarpha Capital, Lisa was the president and founder of LAM Advisors, where she was responsible for strategic planning and decision making to improve profitability and revenue growth, re-engineering functions to optimize performance, and acting as interim CFO at a Retirement Services company with over $26 billion in assets under administration.
In 2006, Lisa was an Executive Volunteer for Broadreach Health, where she was responsible for assessing and expanding HIV treatment programs in South African public hospitals and rural clinics. She expanded the capacity to over five times the original offering.
Prior to that, she was Vice President at Prudential Financial, where she was responsible for building and expanding Wirehouse Distribution of Annuities and building a Financial Planning platform for 11,000 professionals. She also led the finance team in a $300 million expense reduction effort.
Before that, Lisa was an Audit Manager at Deloitte & Touche, where she was responsible for multi-million dollar audit engagements for clients such as: Prudential. Hospitality Franchise Systems (now, Wyndham), Sunshine Biscuits, and the Town of Morristown.
Lisa earned her Master’s of Business Administration, Finance from Columbia Business School and her Bachelor’s of Science in Business and Accounting from Rutgers. Lisa has served as an adjunct audit professor and guest lecturer at Rutgers Business School.
What’s in a Name?
We named our company Syncarpha to reflect our mission: investing in renewable energy. Syncarpha is a genus of herbaceous flowering plants in the daisy family (Asteraceae), native to Africa and more commonly known as the everlasting.