Adam Carte, Executive Vice President & CFO.
As a founding member and CFO of Alea Management, LLC, Mr. Carte provides strategic, commercial, valuation and financial expertise to Alea’s portfolio of projects and investments.
Previously, Mr. Carte was the chief financial officer of The Trigen Companies. In this capacity, he was responsible for the entire finance and administrative operations, including treasury, accounting, and the company’s budgets, forecasts and capital structure. Additionally, he managed certain administrative functions including human resources and information technology.
During his tenure with Trigen he jointly led the process and negotiations for the sale of the company for $800 million to Veolia Environnement (NYSE:VE), a large French conglomerate, in a process that more than doubled the equity value of the company in less than three years.
Prior to joining Trigen Mr. Carte spent two years working for Texas-New Mexico Power/First Choice Power (“TNMP”), an electric utility serving approximately 275,000 customers based in Fort Worth Texas, as the VP & Treasurer until the company was sold to PNM Resources, a neighboring utility. During his time at TNMP Mr. Carte worked through the company’s efforts to sell itself by, in part, preparing and presenting the company’s internal forecast and valuation model to various bidders. Additionally, he led negotiations on the structure of an innovative energy supply agreement to serve all of the company’s load requirements after the deregulation of the Texas electricity market, and also worked through the regulatory process and provided testimony on the company’s $300 million stranded asset filing connected to the deregulation of electric utilities in Texas.
From 1993 to 2003 Mr. Carte worked at NRG Energy, Inc., the third largest independent power producer in the world with over $14 billion in assets by 2002. Mr. Carte served in various financial positions, ultimately as VP & Treasurer. During his time at NRG he raised over $10 billion in debt and equity capital from financial institutions and the capital markets, including the largest initial public offering in Minnesota history. With the market downturn in 2002, Mr. Carte successfully worked with lenders, their advisors and other creditors to stabilize the company through a managed reorganization process.
Mr. Carte received a B.A. in Mathematics from Earlham College and an MBA with a concentration in Finance from the Carlson School of Management at the University of Minnesota. He holds a Chartered Financial Analyst (CFA) designation and is a Certified Treasury Professional (CTP).