What we do
Granby, Colorado · est. 2011
Water infrastructure is built for fifty years and financed, absurdly, for five.
A district replacing a treatment plant is making a fifty-year decision. Lending it money on a five-year bullet guarantees a refinancing crisis in the middle of the asset's life, at whatever rate the decade happens to offer.
We write twenty-year paper against rights, storage and treatment assets in the Colorado basin. Our underwriters are hydrologists and water lawyers, because in this market the legal claim is the collateral.
“In water, the legal claim is the collateral. Everything else is plumbing.”
A right that stands up
Adjudicated, senior enough to matter, and documented well enough to lend against.
A ratepayer base
Someone who has to pay: a district, a utility, a contracted industrial user.
A twenty-year horizon
If the plan only works for five, we are the wrong lender.
What it lasts, and what it is lent against
- Asset life
- Typical loan
- Ours
Treatment plant
50 year life
Reservoir and dam
80 year life
Transmission pipeline
60 year life
Well field
35 year life
Every bar is drawn to the same scale: one percent of width per year. Our twenty years is the grey one.
The people
Everyone here, and what each of them actually does.
25 people across Granby and Phoenix. The list is complete — there is no second bench.
- 01Anthony LockhartManaging Partner
- 02Dennis AshfordManaging Partner
- 03Elizabeth AbernathyPartner
- 04Grace HarringtonPartner
- 05Jacob FarnsworthPartner
- 06Jessica KingsleyPartner
- 07Patrick KensingtonPrincipal
- 08Peter NorwoodPrincipal
- 09Rachel LockhartPrincipal
- 10Samuel AshworthVice President
- 11Sharon IngramVice President
- 12Stephanie HartleyVice President
- 13Margaret AldenAssociate
- 14Roland HarknessAssociate
- 15Vivian SheffieldAssociate
- 16Arthur ComstockHead of Origination
- 17Constance NorcrossHead of Underwriting
- 18Curtis WhitcombHead of Portfolio
- 19Rosalind HallowayChief Financial Officer
- 20Bernard SedgwickChief Compliance Officer
- 21Josephine ChadwickGeneral Counsel
- 22Norman MerriweatherDirector of Research
- 23Harriet WadsworthInvestor Relations
- 24Warren GarrickHead of Operations
- 25Lydia RadcliffeFund Controller
Open role
We are hiring a water underwriter, in Granby.
Hydrology or water law, five years of it, and the patience for a twenty-year instrument.