THE EXECUTION TEAM
Patrick is a seasoned investment banker with sound origination, deal structuring, execution, analytical, commercial, negotiation and managerial skills. He has been involved both as financial adviser, equity and debt arranger in a cross-section of infrastructure, shipping, aircraft, hydrocarbon, oil rig and work-over financings in the United Kingdom, Portugal, Saudi Arabia, Qatar, other GCC countries and most recently in Nigeria. His experience covers project development, bankability assessments, deal structuring, risk assessment, financial modelling, PPP bid submission support, risk assessment, PPP negotiation and structuring, financing documentation, credit appraisal, syndication, account and project managing multi-disciplinary assignments & deal teams across Greenfield, Brown-field and Black-field transactions.
He has worked on project financings in excess of approximately US$77 billion since 1996 and was Group Executive, Head – Investment Banking and Operations Divisions at FBNQuest Merchant Bank Limited until February 2023, following which he founded and set up PM Infrastructure Advisory & Consulting Limited. Patrick has 33 years banking experience of which 25 years has been dedicated primarily towards financial advisory, debt structuring, debt arranging / lending and closing of big-ticket project finance, M&A and Capital Markets transactions in Nigeria and various offshore jurisdictions.
His infrastructure / project financing career commenced as a financial modeller at London Underground Limited’s (“LUL”) Project Finance Advisory Group where he advised and negotiated on various transport projects being implemented by the UK Government. His career further developed at the London branch of German bank, Bayerische Landesbank’s (“BLB”) structured finance group where he undertook various project finance (PFI / BOT / PPP) duties. He advanced his career as Assistant Manager, Project & Trade Finance Department, GCC Group, at Arab Petroleum Investments Corporation (“APICORP”) Saudi Arabia. Patrick was subsequently appointed Senior Corporate Banker and acting Head of project finance at National Commercial Bank (“NCB”), Saudi Arabia.
Prior to returning to Nigeria in 2008 he was Managing Director and Head, Project and Corporate Finance at Bahrain based Gulf One Investment Bank where he led and structured the first Islamic finance transaction for an airport on a BOT basis. Upon returning to Nigeria, he joined Standard Bank’s Stanbic IBTC Bank as head, Debt Solutions and later moved to FBN Capital Ltd (now FBNQuest Merchant Bank Ltd) in December 2011 where he rose to the position of Group Executive. Patrick was responsible for overseeing two important divisions of the bank (i.e., Investment Banking and Bank Operations), where he led deal teams involved in advising, structuring, executing and closing of the firm’s debt arranging, advisory and Investment Banking activities. Although he took early retirement in 2023, FBNQuest retains him as Senior Adviser, where he undertakes various ad-hoc advisory duties on behalf of the bank.
Since returning to Nigeria he has been involved as adviser to Central Bank Of Nigeria on the power sector intervention funding, Lafarge, SEPLAT Energy, MTN, Nigeria National Petroleum Corporation on their green-field refinery projects, refinery rehabilitation projects, Nigeria LNG, Nigeria Sovereign Investment Authority (“NSIA”), Lagos State Government’s Blue Line Railway and the Lekki Airport projects. Patrick Mgbenwelu is a regular industry speaker / panel member and writes case studies / articles in various PPP / project finance publications, he is a founding council member and chairman of the International Project Finance Association (“IPFA”) (Nigeria branch) and is on the Advisory Board of Lagos Business School’s Centre for Infrastructure Policy Regulation & Advancement.
Oluwatobi is an all-round investment banker whose expertise has focused on origination of bulge bracket offshore financings, deal structuring with cross border teams, execution, analytical assessments, commercial strategy, negotiation, and managerial skills which he acquired in the United States and the United Kingdom. With over seven years working at Guggenheim Partners, Oluwatobi has worked on project financings and M&A transactions exceeding approximately US$30 billion since 2017, demonstrating exceptional skills in structuring and executing complex deals in the USA and UK.
He was previously with Goldman Sachs, where he completed rotations across various departments such as Investment Grade Credit Trading, Prime Brokerage Risk and Special Assets Group desks. During his tenure at Goldman Sachs, Oluwatobi developed a macro thesis on the outlook for oil prices over six months and its consequent impact on credit markets. He also created bespoke complex econometric and financial models to assess the relative risks of 61 countries based on various economic, political, and market variables. In addition to his extensive experience in investment banking, Oluwatobi has gained significant expertise in portfolio management and sales, enhancing his ability to drive strategic investment decisions and foster client relationships. Oluwatobi's comprehensive background and proven track record make him a valuable asset in the field of investment banking, with a strong capability to deliver exceptional results under pressure and in a high-stakes environment.
Ugochi Mgbenwelu, is responsible for PMInfraAC’s corporate strategy, media and customer relations activities. She was previously working at Raegan Advisors in Ghana as a Marketing Manager, where she was responsible for developing and executing marketing plans, marketing rollout strategies and customer awareness campaigns. Her duties included, data gathering, analyzing and interpreting the performance of marketing efforts and customer behavior. She was actively involved in maintaining customer relationships and following up on initiatives for strengthening client loyalty, retention and repeat business. Her duties included leveraging digital channels, social media and other bespoke approaches across the marketing value chain to enhance the company's market presence and brand awareness. Given Ugochi’s offshore experience, she brings on board an international perspective into the business. Ugochi’s personal interests and hobbies include art, badminton, sports cars and watching formula 1 events.
Kenny is a financial professional with a strong corporate finance, investment research, and financial advisory background. He has successfully managed capital raises exceeding $200 million, executed transactions totalling $165 million, and conducted financial analyses for high-value transactions. He has proven expertise in developing financing strategies, evaluating investment-grade ratings, financial modelling and delivering comprehensive financial reports for clients across various sectors.
He was previously with Fair Money MFB, where he led the registration and issuance of a commercial paper program, including drafting essential transaction documents, coordinating regulatory engagements with bankers, lawyers, project sponsors and tax advisors, and developing comprehensive investor engagement plans. Kenny managed a $20 million private debt capital raise, handling all aspects from drafting transaction documents to coordinating regulatory engagements and crafting investor engagement strategies. He has streamlined the investor due diligence process for multiple debt capital raises by coordinating investor interactions, managing the data room, and preparing detailed investor presentations. He conducted in-depth financial statement analysis, preparing reports that highlighted key performance metrics of Fair Money for existing investors, ensuring clear and effective communication of financial health. He has coordinated two rating agencies to maintain Fair Money's investment-grade ratings, securing these ratings in December 2022 through effective communication and engagement strategies.
Kenny's expertise and successes thus far make him a crucial asset within PMInfraAC's deal structuring and execution team. He has achieved remarkable results while working under pressure and tight deadlines.