Investments

Ramon Candia

Chief Investment Officer

Ramon Candia is an investment banking professional with over 20 years of experience and is CIFI’s Chief Investment Officer. In recent years he has focused on the infrastructure and cleantech sectors. He has been actively involved in financing, structuring, developing, negotiating, creating business strategies and managing portfolios on several continents.

He has represented his employers as a board member in several companies. In 2003 he earned an MBA in Finance from Purdue University. And set out to advance professionally with exposure to various industries, he is fluent in English, Spanish, German and has a basic level of Portuguese, skills that have allowed him to thrive in the industry internationally.

Ramon Candia

Chief Investment Officer

Iván Núñez

Portfolio Director

Ivan heads the portfolio management unit at CIFI, where he also held the position of Director of Structured Finance. He holds a Master's degree in International Trade from the Centro de Estudios Económicos y Comerciales de Madrid, and is an MA from SAIS '07 with a concentration in International Policy of Emerging Market Economics.

He is a 2015 Socrates Fellow at the Aspen Institute and has received the Caja Madrid Graduate Fellowship and the Marie Kraus and Johns Hopkins Fellowships.

Previously, Iván worked in the Infrastructure Division of the Inter-American Development Bank, where he oversaw financing renewable energy projects for major global developers. Ivan has been responsible for the creation of innovative products such as the Sustainable Biofuels Scorecard and the Energy Efficiency Guarantee Mechanism, which aims to promote sustainable energy in Latin America. Ivan has also held positions on the advisory teams of Salomon Brothers, Morgan Stanley and ING Barings.
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Iván Núñez

Portfolio Director

Antonio Araúz

Investment Director Structured and Corporate Finance

Antonio is a seasoned investment professional with over 16 years of international track record in commercial banking, structured corporate finance, project finance, private equity and investment management. As part of his investment management responsibilities, he has served as Board Director in multiple companies and has taken an interim CEO role for a successful turn-around, capital raising and exit strategy.

Antonio joined CIFI in 2016, where he serves as an Investment Director and leads the financing process of infrastructure projects across Latin America and the Caribbean.

Before joining CIFI, he began his professional career as a regional manager in commercial banking to later specialized in corporate banking and private equity investments in companies and projects throughout Latin America within the cleantech, sustainable forestry, energy efficiency and renewable energy space.

He earned an MBA from the INCAE Business School and was awarded with a 12- month Post Graduate Fellowship Program in Sustainable Energy Policy by the German Federal Government. He also has a bachelor's degree in Business Administration with Minors in Finance and Management and is fluent in English and Spanish, and proficient in German and Portuguese.

Antonio Araúz

Investment Director

Structured and Corporate Finance

Guillermo Sierra

Director Structured and Corporate Finance

Investment professional with 16 years of experience in structuring customized debt financing solutions for infrastructure and energy projects in emerging markets (mainly the Caribbean and Latin America).

He has been part of CIFI's business team for more than 7 years, which has allowed him to develop an extensive professional network with strategic sponsors, banks and multilateral organizations throughout the Latam region, working on more than 25 projects in 10 different countries. He holds an MBA from IESE Business School and a degree in Business Administration from CUNEF (Madrid).

Guillermo Sierra

Director

Structured and Corporate Finance

Investments

Ramon Candia

Chief Investment Officer

Ramon Candia is an investment banking professional with over 20 years of experience and is CIFI’s Chief Investment Officer. In recent years he has focused on the infrastructure and cleantech sectors. He has been actively involved in financing, structuring, developing, negotiating, creating business strategies and managing portfolios on several continents.

He has represented his employers as a board member in several companies. In 2003 he earned an MBA in Finance from Purdue University. And set out to advance professionally with exposure to various industries, he is fluent in English, Spanish, German and has a basic level of Portuguese, skills that have allowed him to thrive in the industry internationally.

Ramon Candia

Chief Investment Officer

Lucy Peralta

Originitation Director

Lucy Peralta is an experienced executive with more than 10 years of notable success in the infrastructure business in several jurisdictions in Latin America and the Caribbean.

She has been responsible for origination, financing, M&A transactions, development and construction of infrastructure projects, with a key focus on renewable energy.

She is a Civil Engineer with an MBA, fluent in English and Spanish, with a basic level of Portuguese.

Lucy Peralta

Originitation Director

Iván Núñez

Portfolio Director

Ivan heads the portfolio management unit at CIFI, where he also held the position of Director of Structured Finance. He holds a Master's degree in International Trade from the Centro de Estudios Económicos y Comerciales de Madrid, and is an MA from SAIS '07 with a concentration in International Policy of Emerging Market Economics.

He is a 2015 Socrates Fellow at the Aspen Institute and has received the Caja Madrid Graduate Fellowship and the Marie Kraus and Johns Hopkins Fellowships.

Previously, Iván worked in the Infrastructure Division of the Inter-American Development Bank, where he oversaw financing renewable energy projects for major global developers. Ivan has been responsible for the creation of innovative products such as the Sustainable Biofuels Scorecard and the Energy Efficiency Guarantee Mechanism, which aims to promote sustainable energy in Latin America. Ivan has also held positions on the advisory teams of Salomon Brothers, Morgan Stanley and ING Barings.
.

Iván Núñez

Portfolio Director

Antonio Araúz

Investment Director Structured and Corporate Finance

Antonio is a seasoned investment professional with over 16 years of international track record in commercial banking, structured corporate finance, project finance, private equity and investment management. As part of his investment management responsibilities, he has served as Board Director in multiple companies and has taken an interim CEO role for a successful turn-around, capital raising and exit strategy.

Antonio joined CIFI in 2016, where he serves as an Investment Director and leads the financing process of infrastructure projects across Latin America and the Caribbean.

Before joining CIFI, he began his professional career as a regional manager in commercial banking to later specialized in corporate banking and private equity investments in companies and projects throughout Latin America within the cleantech, sustainable forestry, energy efficiency and renewable energy space.

He earned an MBA from the INCAE Business School and was awarded with a 12- month Post Graduate Fellowship Program in Sustainable Energy Policy by the German Federal Government. He also has a bachelor's degree in Business Administration with Minors in Finance and Management and is fluent in English and Spanish, and proficient in German and Portuguese.

Antonio Araúz

Investment Director

Structured and Corporate Finance

Guillermo Sierra

Director Structured and Corporate Finance

Investment professional with 16 years of experience in structuring customized debt financing solutions for infrastructure and energy projects in emerging markets (mainly the Caribbean and Latin America).

He has been part of CIFI's business team for more than 7 years, which has allowed him to develop an extensive professional network with strategic sponsors, banks and multilateral organizations throughout the Latam region, working on more than 25 projects in 10 different countries. He holds an MBA from IESE Business School and a degree in Business Administration from CUNEF (Madrid).

Guillermo Sierra

Director

Structured and Corporate Finance

Environmental, Social, and Governance

Carla Chízmar

Head of Environmental, Social, and Governance

Carla Chizmar is the Head of the ESG department at CIFI, in charge of developing and implementing an ESG strategy in line with the company’s business plan. She holds a BS degree in Biology, specialized in botany from the University of Panama, a master’s degree in Environmental Sciences from Yale University and is Certified in Financing and Deploying Clean Energy from a joint program of Yale School of the Environment and the School of Management.

She has 18 years of experience in scientific research, applied sciences for global problems, sustainable development, clean energy, climate change, green lending, and impact investment. Prior to CIFI, Carla worked extensively in Latin America and the Caribbean with scientific research organizations (Smithsonian), the academia (Yale University), and multilateral organizations (United Nations).

At CIFI, oversees managing E&S risks and impacts prior to investments, supervises ESG performance of the portfolio, compliance with CIFI’s policy framework, stakeholder engagement, identification of green business opportunities and funding, development of tools, and reporting with transparency. Carla is currently developing a Decarbonization Strategy to align CIFI’s investment portfolio to a 1.5°C economy, is responsible for the Gender Equality Strategy of the company, and commitments towards Human Rights in all our investments.

She was part of the team that issued the first Green Bond Programme in Panama for $200MM, designed of an ESG Software, a Key Risk Indicator, and a Scoring System to manage ESG risks. Carla is an Equator Principles Association Steering Committee member, and Lead of the Regional Network for Latin America.

She has strong technical expertise, is results oriented, has great networking skills, creative-analytical thinking, outstanding organizational and communication skills, is proactive, and an excellent researcher with knowledge management. She is fluent in Spanish, English and proficient in Portuguese.

She has been with CIFI since 2016, joined the management team of the company in 2018, and became a shareholder in Valora in 2019.

Carla Chízmar

Head of Environmental, Social, and Governance

María A. Vega

Senior Environmental, Social, and Governance Officer

Maria is a Senior ESG specialist at CIFI, in charge of conducting and evaluating environmental & social impact due diligence assessments of prospective projects. She holds a BS degree in Chemical Engineering, from the Simon Bolivar University, and a master’s business administration degree from Metropolitana University.

She has 20 years of experience in Environmental, Social Management, Climate Change, IFC’s Performance Standards implementation, leading the development and implementation of Environmental and Social Impact Assessments and Environmental and Social Action Plans of several infrastructure projects in Latin America and the Caribbean. Prior to CIFI, Maria worked extensively in Latin America and the Caribbean with an International inspection, verification, and certification company, and a global building materials company.

At CIFI, she conducts and evaluates environmental & social due diligence assessments of prospective projects, oversights and manages client’s E&S consultants, establishes E&S management frameworks for new projects, and contributes to the ESG impact measurement, policies development and ESG organizational knowledge. She was part of the team that designed an ESG Software and a Scoring System to manage ESG risks.
She has excellent analytical skills, strong technical expertise, is results oriented, outstanding organizational and communication skills, is proactive, and excellent understanding of strategic ESG matters. She is fluent in Spanish and English.

María A. Vega

Senior Environmental, Social, and Governance Officer

Verónica Villacis

Environmental, Social, and Governance Officer

Veronica Villacis is an ESG specialist at CIFI, in charge of conducting environmental & social due diligence processes of s prospecting financing, E&S monitoring of credits, and contributing to the ESG Team to develop new sustainability assessment tools.

She is an Environmental Engineer from the International University SEK in Ecuador and holds a Master's Degree in Environmental Management and Audits from the Universitad Politècnica de Catalunya in Spain. She has a proven history of working applying environmental, social, quality, and international technical standards in different industrial sectors such as oil&gas, energy, mining, telecommunications, manufacture, and in several E&S management areas such as climate change, chemicals, hazardous materials, waste to energy and co-processing technologies, environmental policies, clean energy, energy efficiency, ecosystem and biodiversity conservation.

As a highly experienced environmental engineer with more than 14 years of working in the field, she has an excellent understanding of the unique challenges of sustainable development in both not-for-profit and for-profit organizations in the private and public sectors. This wealth of experience and her personal qualities and engagement will help CIFI reach and generate new institutional goals facing the green, climate, and sustainable financing opportunities. She is also fluent in Spanish, English and proficient in German.

Verónica Villacis

Environmental, Social, and Governance Officer

Environmental, Social, and Governance

Carla Chízmar

Head of Environmental, Social, and Governance

Carla Chizmar is the Head of the ESG department at CIFI, in charge of developing and implementing an ESG strategy in line with the company’s business plan. She holds a BS degree in Biology, specialized in botany from the University of Panama, a master’s degree in Environmental Sciences from Yale University and is Certified in Financing and Deploying Clean Energy from a joint program of Yale School of the Environment and the School of Management.

She has 18 years of experience in scientific research, applied sciences for global problems, sustainable development, clean energy, climate change, green lending, and impact investment. Prior to CIFI, Carla worked extensively in Latin America and the Caribbean with scientific research organizations (Smithsonian), the academia (Yale University), and multilateral organizations (United Nations).

At CIFI, oversees managing E&S risks and impacts prior to investments, supervises ESG performance of the portfolio, compliance with CIFI’s policy framework, stakeholder engagement, identification of green business opportunities and funding, development of tools, and reporting with transparency. Carla is currently developing a Decarbonization Strategy to align CIFI’s investment portfolio to a 1.5°C economy, is responsible for the Gender Equality Strategy of the company, and commitments towards Human Rights in all our investments.

She was part of the team that issued the first Green Bond Programme in Panama for $200MM, designed of an ESG Software, a Key Risk Indicator, and a Scoring System to manage ESG risks. Carla is an Equator Principles Association Steering Committee member, and Lead of the Regional Network for Latin America.

She has strong technical expertise, is results oriented, has great networking skills, creative-analytical thinking, outstanding organizational and communication skills, is proactive, and an excellent researcher with knowledge management. She is fluent in Spanish, English and proficient in Portuguese.

She has been with CIFI since 2016, joined the management team of the company in 2018, and became a shareholder in Valora in 2019.

Carla Chízmar

Head of Environmental, Social, and Governance

María A. Vega

Senior Environmental, Social, and Governance Officer

Maria is a Senior ESG specialist at CIFI, in charge of conducting and evaluating environmental & social impact due diligence assessments of prospective projects. She holds a BS degree in Chemical Engineering, from the Simon Bolivar University, and a master’s business administration degree from Metropolitana University.

She has 20 years of experience in Environmental, Social Management, Climate Change, IFC’s Performance Standards implementation, leading the development and implementation of Environmental and Social Impact Assessments and Environmental and Social Action Plans of several infrastructure projects in Latin America and the Caribbean. Prior to CIFI, Maria worked extensively in Latin America and the Caribbean with an International inspection, verification, and certification company, and a global building materials company.

At CIFI, she conducts and evaluates environmental & social due diligence assessments of prospective projects, oversights and manages client’s E&S consultants, establishes E&S management frameworks for new projects, and contributes to the ESG impact measurement, policies development and ESG organizational knowledge. She was part of the team that designed an ESG Software and a Scoring System to manage ESG risks.
She has excellent analytical skills, strong technical expertise, is results oriented, outstanding organizational and communication skills, is proactive, and excellent understanding of strategic ESG matters. She is fluent in Spanish and English.

María A. Vega

Senior Environmental, Social, and Governance Officer

Verónica Villacis

Environmental, Social, and Governance Officer

Veronica Villacis is an ESG specialist at CIFI, in charge of conducting environmental & social due diligence processes of s prospecting financing, E&S monitoring of credits, and contributing to the ESG Team to develop new sustainability assessment tools.

She is an Environmental Engineer from the International University SEK in Ecuador and holds a Master's Degree in Environmental Management and Audits from the Universitad Politècnica de Catalunya in Spain. She has a proven history of working applying environmental, social, quality, and international technical standards in different industrial sectors such as oil&gas, energy, mining, telecommunications, manufacture, and in several E&S management areas such as climate change, chemicals, hazardous materials, waste to energy and co-processing technologies, environmental policies, clean energy, energy efficiency, ecosystem and biodiversity conservation.

As a highly experienced environmental engineer with more than 14 years of working in the field, she has an excellent understanding of the unique challenges of sustainable development in both not-for-profit and for-profit organizations in the private and public sectors. This wealth of experience and her personal qualities and engagement will help CIFI reach and generate new institutional goals facing the green, climate, and sustainable financing opportunities. She is also fluent in Spanish, English and proficient in German.

Verónica Villacis

Environmental, Social, and Governance Officer

Legal

Jose Salaverria

General Counsel

Jose H. Salaverria T. is a seasoned corporate, finance and transactional attorney, with extensive experience in cross-border transactions in the energy and infrastructure sectors in Latin America and the Caribbean.

He is a member CIFI’s founding team, since 2002 when he joined the company as Legal Advisor. He became General Counsel in 2012, where he is responsible for directing all legal affairs of the company and managing its legal department.

During his tenure at CIFI he has led and overseen the structuring, negotiation, closing and monitoring of more than $1.5 billion worth of assets, all its liabilities in both the syndicated loan and capitals markets, while leading CIFI’s corporate and regulatory matters (including advising on audit, budgeting, compliance, employment, governance, investor presentation, litigation, securities and tax planning matters). Since January 2021, he is a member of its Credit Committee. Prior to joining CIFI, between 1996 and 2001, he was an Associate at Torres, Plaz & Araujo, a well-known corporate and tax law firm in Caracas, Venezuela, where he advised multinational corporations doing business in the country. In 1998 he was seconded as in-house legal counsel to EPIC, Exploración & Producción, Entidad de Inversión Colectiva, an affiliate of PDVSA, to lead its legal department in the initial public offering of shares valued at $450 million in the capital market in Venezuela and New York (then the largest IPO in Venezuela).

He holds a Master of Business Administration (2003) from Kogod School of Business, American University, Washington, DC.; a Master in International Commercial Law (LL.M) (1995) from the George Washington University, School of Law, Washington, DC.; and a Juris Doctor (1992) from Universidad Central de Venezuela, School of Law, Caracas, Venezuela.

Jose Salaverria

General Counsel

Javier Balbotín

Lead Counsel

Javier Balbontín is lead counsel at CIFI, providing legal assistance to the origination, business, and portfolio teams in connection with potential and ongoing transactions.

He has more than 10 years of experience working in internationally recognized law firms, in corporate and project financing in Latin America, leading the structuring, negotiation and implementation of complex legal transactions, and supervising legal teams in due diligence processes covering the legal analysis of offtake agreements, PPP contracts, PPAs and other types of offtake agreements, supply agreements EPC/O&M and other project contracts, corporate, real estate, environmental, mining law, regulatory issues, etc., and preparing and negotiating the relevant financing documentation.

Before joining CIFI, he worked as a senior associate Morales & Besa, a renowned law firm in Chile (2009-2015; 2017-2021), where he represented and coordinated legal teams to assist local and international financial institutions, investors, developers and issuers in a variety of projects and financing structures, with emphasis in PPPs and renewable energy, including urban toll roads, highways, airports, hospitals, wind, solar, and hydro power and transmission projects, in project financing, acquisition financing, project bonds, restructurings, VAT financings and mezzanine loans. He has also been involved in financings for mining projects, vessels and in the food industry.

Mr. Balbontín also worked as foreign associate in the Latam project finance team at Mayer Brown LLP (D.C.), being involved in a variety of project finance transactions in Latin America (2016-2017).

During his time at Morales & Besa, Mr. Balbontín was recognized as an associate to watch by Chambers and Partners Latin America, in Banking and Finance (Chile) (2015), and in Projects (Chile) (2021), and by The Legal 500 as Rising Star in Projects and Infrastructure (Chile) (2021).

He holds a LLM at The University of Chicago Law School (2016), a Law Degree at Universidad de Chile Law School (Highest Distinction) (2010) and is admitted to the Chilean Bar (2011).

Javier Balbontín

Lead Counsel

Martha Pastor

Corporate Lawyer / In-house Counsel

Lawyer with 10 years of professional experience and substantial knowledge of commercial, corporate, banking and securities law. Focused on negotiating and drafting contracts for commercial, finance, B2C, B2B, global suppliers and related parties.

As in-house counsel, she has provided expert legal advice in relation to corporate governance, securities, asset management, corporate funding and regulatory compliance matters. Former Legal Counsel for the Panamanian Securities and Exchange regulator.

She holds a master’s degree in Banking Law from USMA Panama; a master’s degree in International Business Law with emphasis on Capital Markets from the University Carlos III of Madrid, School of Law; a Legal English Certification from the same academic institution, and a Bachelor of Laws and Political Sciences from USMA Panama.

Certified Public Translator (English and Spanish) and licensed to practice Law in Panama.

Martha Pastor

Corporate Lawyer/ In-house Counsel

Cristina De Roux

Project Attorney

Cristina De Roux is a transactional and corporate lawyer, member of CIFI's legal department, where she serves as a project attorney, providing legal advice for infrastructure project finance in Latin America, as well as in certain corporate and capital markets matters.

Prior to joining CIFI, she worked as an associate lawyer at Morgan & Morgan, the largest law firm in the Republic of Panama, where she regularly advised national and international clients in matters related to project finance, mergers and acquisitions, banking and finance, securities and capital markets regulation, antitrust and corporate law.

Cristina has also been involved in pro bono activities, advising various NGOs and representing clients for the defense of their human rights in local and international courts.
Cristina holds a Bachelor's Degree in Law and Political Science, graduating Summa Cum Laude from Santa Maria La Antigua University in Panama. She then obtained her Master of Laws degree with honors of distinction from Tulane University School of Law in New Orleans, Louisiana, on a scholarship as a member of the Panamanian Alumni Association of Tulane University. Ms. De Roux is admitted to practice law in the Republic of Panama.

Cristina De Roux

Project Attorney

Cira Ugas Martínez

Project Attorney

In her professional experience she has worked as Senior Lawyer for C.A Electricidad de Caracas (AES) and Corpoelec, an integrated electric utility serving more than one million users in Caracas- Venezuela, metropolitan area as a corporate, commercial, planning, and regulatory affairs attorney.

Rendering consulting services for private and public sector (Venezuelan and Ecuadorian Ministries of Trade and Commerce) as competition policies specialist, covering goods, commodities, and services as well as highly regulated markets. She has worked as investigating and substantiating officer at the antitrust agency Procompetencia in Venezuela.

She obtained a double degree in Official Master in Economy, Regulation and Competence of Public Services, Specialist in Energy Services and Telecommunications (2014); Universitat de Barcelona (España), Administrative Law Specialization Degree (2005) Universidad Central de Venezuela (Venezuela), Training on Commercial Policy & International Economic Negotiations Degree (2001) Universidad Simón Bolívar (Venezuela), Lawyer Degree (1998) Universidad Católica Andrés Bello (Venezuela).
Venezuela).

Cira Ugas Martínez

Project Attorney

Legal

Jose Salaverria

General Counsel

Jose H. Salaverria T. is a seasoned corporate, finance and transactional attorney, with extensive experience in cross-border transactions in the energy and infrastructure sectors in Latin America and the Caribbean.

He is a member CIFI’s founding team, since 2002 when he joined the company as Legal Advisor. He became General Counsel in 2012, where he is responsible for directing all legal affairs of the company and managing its legal department.

During his tenure at CIFI he has led and overseen the structuring, negotiation, closing and monitoring of more than $1.5 billion worth of assets, all its liabilities in both the syndicated loan and capitals markets, while leading CIFI’s corporate and regulatory matters (including advising on audit, budgeting, compliance, employment, governance, investor presentation, litigation, securities and tax planning matters). Since January 2021, he is a member of its Credit Committee. Prior to joining CIFI, between 1996 and 2001, he was an Associate at Torres, Plaz & Araujo, a well-known corporate and tax law firm in Caracas, Venezuela, where he advised multinational corporations doing business in the country. In 1998 he was seconded as in-house legal counsel to EPIC, Exploración & Producción, Entidad de Inversión Colectiva, an affiliate of PDVSA, to lead its legal department in the initial public offering of shares valued at $450 million in the capital market in Venezuela and New York (then the largest IPO in Venezuela).

He holds a Master of Business Administration (2003) from Kogod School of Business, American University, Washington, DC.; a Master in International Commercial Law (LL.M) (1995) from the George Washington University, School of Law, Washington, DC.; and a Juris Doctor (1992) from Universidad Central de Venezuela, School of Law, Caracas, Venezuela.

Jose Salaverria

General Counsel

Javier Balbotín

Lead Counsel

Javier Balbontín is lead counsel at CIFI, providing legal assistance to the origination, business, and portfolio teams in connection with potential and ongoing transactions.

He has more than 10 years of experience working in internationally recognized law firms, in corporate and project financing in Latin America, leading the structuring, negotiation and implementation of complex legal transactions, and supervising legal teams in due diligence processes covering the legal analysis of offtake agreements, PPP contracts, PPAs and other types of offtake agreements, supply agreements EPC/O&M and other project contracts, corporate, real estate, environmental, mining law, regulatory issues, etc., and preparing and negotiating the relevant financing documentation.

Before joining CIFI, he worked as a senior associate Morales & Besa, a renowned law firm in Chile (2009-2015; 2017-2021), where he represented and coordinated legal teams to assist local and international financial institutions, investors, developers and issuers in a variety of projects and financing structures, with emphasis in PPPs and renewable energy, including urban toll roads, highways, airports, hospitals, wind, solar, and hydro power and transmission projects, in project financing, acquisition financing, project bonds, restructurings, VAT financings and mezzanine loans. He has also been involved in financings for mining projects, vessels and in the food industry.

Mr. Balbontín also worked as foreign associate in the Latam project finance team at Mayer Brown LLP (D.C.), being involved in a variety of project finance transactions in Latin America (2016-2017).

During his time at Morales & Besa, Mr. Balbontín was recognized as an associate to watch by Chambers and Partners Latin America, in Banking and Finance (Chile) (2015), and in Projects (Chile) (2021), and by The Legal 500 as Rising Star in Projects and Infrastructure (Chile) (2021).

He holds a LLM at The University of Chicago Law School (2016), a Law Degree at Universidad de Chile Law School (Highest Distinction) (2010) and is admitted to the Chilean Bar (2011).

Javier Balbontín

Lead Counsel

Martha Pastor

Corporate Lawyer / In-house Counsel

Lawyer with 10 years of professional experience and substantial knowledge of commercial, corporate, banking and securities law. Focused on negotiating and drafting contracts for commercial, finance, B2C, B2B, global suppliers and related parties.

As in-house counsel, she has provided expert legal advice in relation to corporate governance, securities, asset management, corporate funding and regulatory compliance matters. Former Legal Counsel for the Panamanian Securities and Exchange regulator.

She holds a master’s degree in Banking Law from USMA Panama; a master’s degree in International Business Law with emphasis on Capital Markets from the University Carlos III of Madrid, School of Law; a Legal English Certification from the same academic institution, and a Bachelor of Laws and Political Sciences from USMA Panama.

Certified Public Translator (English and Spanish) and licensed to practice Law in Panama.

Martha Pastor

Corporate Lawyer/ In-house Counsel

Cristina De Roux

Project Attorney

Cristina De Roux is a transactional and corporate lawyer, member of CIFI's legal department, where she serves as a project attorney, providing legal advice for infrastructure project finance in Latin America, as well as in certain corporate and capital markets matters.

Prior to joining CIFI, she worked as an associate lawyer at Morgan & Morgan, the largest law firm in the Republic of Panama, where she regularly advised national and international clients in matters related to project finance, mergers and acquisitions, banking and finance, securities and capital markets regulation, antitrust and corporate law.

Cristina has also been involved in pro bono activities, advising various NGOs and representing clients for the defense of their human rights in local and international courts.
Cristina holds a Bachelor's Degree in Law and Political Science, graduating Summa Cum Laude from Santa Maria La Antigua University in Panama. She then obtained her Master of Laws degree with honors of distinction from Tulane University School of Law in New Orleans, Louisiana, on a scholarship as a member of the Panamanian Alumni Association of Tulane University. Ms. De Roux is admitted to practice law in the Republic of Panama.

Cristina De Roux

Project Attorney

Cira Ugas Martínez

Project Attorney

In her professional experience she has worked as Senior Lawyer for C.A Electricidad de Caracas (AES) and Corpoelec, an integrated electric utility serving more than one million users in Caracas- Venezuela, metropolitan area as a corporate, commercial, planning, and regulatory affairs attorney.

Rendering consulting services for private and public sector (Venezuelan and Ecuadorian Ministries of Trade and Commerce) as competition policies specialist, covering goods, commodities, and services as well as highly regulated markets. She has worked as investigating and substantiating officer at the antitrust agency Procompetencia in Venezuela.

She obtained a double degree in Official Master in Economy, Regulation and Competence of Public Services, Specialist in Energy Services and Telecommunications (2014); Universitat de Barcelona (España), Administrative Law Specialization Degree (2005) Universidad Central de Venezuela (Venezuela), Training on Commercial Policy & International Economic Negotiations Degree (2001) Universidad Simón Bolívar (Venezuela), Lawyer Degree (1998) Universidad Católica Andrés Bello (Venezuela).
Venezuela).

Cira Ugas Martínez

Project Attorney

Operations and Risks

Finance

Fabio Arciniegas

Chief Operating Officer

Fabio Arciniegas, as COO, oversees all business level risks (credit, market, liquidity, compliance, reputational, operational, legal and E&S), including distressed assets. He is also in charge of day-to-day operations support, including back-office, accounting and IT.

He is a member of the Pipeline, ALCO and Credit Committees, and secretary of the CIFI Risk Committee.

Fabio is a decisive, action-oriented and results-driven senior executive with over 25 years of experience in multi-diverse environments, including banking, infrastructure, energy and manufacturing industries.

He is a team leader with a proven ability to effectively achieve objectives through sound management, effective leadership and analytical skills, with proven success in mitigating risks in companies with leverage issues in Latin America.

He holds a PhD in Statistics and a Master's degree in Operations Research and Infrastructure Management from Rensselaer Polytechnic Institute, and a Bachelor's degree in Civil Engineering from Universidad de los Andes (Colombia).

He is certified as a Financial Risk Manager (FRM) by the Global Association of Risk Professionals (GARP), and as a PMP by the Project Management Institute. He was also a member of the Risk Committee at the Panama Banking Association (2012-2015), where the Committee oversaw the analysis, discussion and negotiation of the new Agreement No. 4-2013, which established all regulation related to credit risk management, from origination to credit reserves and credit risk models, following Basel II.

Joined CIFI in 2016 and became a shareholder of Valora in 2019.

Fabio Arciniegas

Chief Operating Officer

Janet Sánchez

Risk Director

Janet Sanchez is responsible for managing the risks inherent to CIFI's activity. She has 15 years of experience in credit risk management, investment structuring and portfolio management.

His experience is focused on the infrastructure, energy, telecommunications, real estate and mining sectors. She has worked at CIFI since 2007 and previously worked at an investment fund manager focused on Latin America and at a risk rating agency.

Janet holds an economist degree from Universidad del Pacífico (Lima, Peru), and an MBA from George Mason University (VA, USA).

Janet Sánchez

Risk Director

Neila Urriola

Treasury Manager

Neila Urriola has been CIFI's Treasurer since November 2016. She has extensive experience in treasury management, relationship with financial institutions and risk rating agencies, implementation of processes and procedures in the financial area, management of investments and issuance of securities in the capital markets. She is responsible for organizing and following up on CIFI's "ALCO" committee, to monitor liquidity needs and compliance with the obligations established in the Liquidity Policy; in addition to managing the delivery of financial reporting to third parties.

She previously served as Treasury and Finance Team Leader at Celsia Central America and Engie. She was Treasury Officer at BNP Paribas Panama Branch and Global Bank Corporation.

She holds a Bachelor's Degree in Finance from Universidad Católica Santa María La Antigüa, Magna Cum Laude. A Postgraduate and a master’s degree in Economics for the Formulation, Evaluation and Administration of Projects from the University of Panama. And a Postgraduate Degree in Financial Markets from Universidad Católica Santa María La Antigüa.

Neila Urriola

Treasury Manager

Operations and Risks

Fabio Arciniegas

Chief Operating Officer

Fabio Arciniegas, as COO, oversees all business level risks (credit, market, liquidity, compliance, reputational, operational, legal and E&S), including distressed assets. He is also in charge of day-to-day operations support, including back-office, accounting and IT.

He is a member of the Pipeline, ALCO and Credit Committees, and secretary of the CIFI Risk Committee.

Fabio is a decisive, action-oriented and results-driven senior executive with over 25 years of experience in multi-diverse environments, including banking, infrastructure, energy and manufacturing industries.

He is a team leader with a proven ability to effectively achieve objectives through sound management, effective leadership and analytical skills, with proven success in mitigating risks in companies with leverage issues in Latin America.

He holds a PhD in Statistics and a Master's degree in Operations Research and Infrastructure Management from Rensselaer Polytechnic Institute, and a Bachelor's degree in Civil Engineering from Universidad de los Andes (Colombia).

He is certified as a Financial Risk Manager (FRM) by the Global Association of Risk Professionals (GARP), and as a PMP by the Project Management Institute. He was also a member of the Risk Committee at the Panama Banking Association (2012-2015), where the Committee oversaw the analysis, discussion and negotiation of the new Agreement No. 4-2013, which established all regulation related to credit risk management, from origination to credit reserves and credit risk models, following Basel II.

Joined CIFI in 2016 and became a shareholder of Valora in 2019.

Fabio Arciniegas

Chief Operating Officer

Janet Sánchez

Risk Director

Janet Sanchez is responsible for managing the risks inherent to CIFI's activity. She has 15 years of experience in credit risk management, investment structuring and portfolio management.

His experience is focused on the infrastructure, energy, telecommunications, real estate and mining sectors. She has worked at CIFI since 2007 and previously worked at an investment fund manager focused on Latin America and at a risk rating agency.

Janet holds an economist degree from Universidad del Pacífico (Lima, Peru), and an MBA from George Mason University (VA, USA).

Janet Sánchez

Risk Director

Finance

Neila Urriola

Treasury Manager

Neila Urriola has been CIFI's Treasurer since November 2016. She has extensive experience in treasury management, relationship with financial institutions and risk rating agencies, implementation of processes and procedures in the financial area, management of investments and issuance of securities in the capital markets. She is responsible for organizing and following up on CIFI's "ALCO" committee, to monitor liquidity needs and compliance with the obligations established in the Liquidity Policy; in addition to managing the delivery of financial reporting to third parties.

She previously served as Treasury and Finance Team Leader at Celsia Central America and Engie. She was Treasury Officer at BNP Paribas Panama Branch and Global Bank Corporation.

She holds a Bachelor's Degree in Finance from Universidad Católica Santa María La Antigüa, Magna Cum Laude. A Postgraduate and a master’s degree in Economics for the Formulation, Evaluation and Administration of Projects from the University of Panama. And a Postgraduate Degree in Financial Markets from Universidad Católica Santa María La Antigüa.

Neila Urriola

Treasury Manager