CEI-Boulos Capital Management

Our Team

CEI-Boulos Staff

30 Federal Street
Brunswick, ME 04011
207-772-2886sam.spencer@ceiboulos.com

Sam Spencer

CEO and Managing Director

30 Federal Street
Brunswick, ME 04011
207-772-2886sam.spencer@ceiboulos.com

Sam Spencer is CEO and Managing Director of CEI-Boulos Capital Management, a real estate investment fund management company focused on delivering both competitive financial returns and social impact. The company serves banks, family offices, and other institutional investors, and has a national scope. CEI-Boulos is a joint venture between CEI, a community development finance institution, and The Boulos Company, an integrated commercial real estate firm.

The company’s first Opportunity Zone fund is the Woodforest CEI-Boulos Opportunity Fund. The fund invests in high-impact commercial real estate projects across the seventeen-state Community Reinvestment Act footprint of its sole investor, Woodforest National Bank, with the goal of ensuring that these investments benefit the economically distressed communities in which the projects are located. In 2020, the Woodforest CEI-Boulos Opportunity Fund was recognized by Forbes and the Sorenson Impact Center as one of the “The Forbes OZ 20: Top Opportunity Zone Catalysts,” and one of the ten most innovative and impact focused Opportunity Zone funds in the country. In 2021, the fund was the winner in the Societal and Community Impact Innovation category of the Banking Administration Institute (BAI) Global Innovation Awards.

Spencer was previously Senior Vice President for Investments at CEI Capital Management, of the nation’s leading allocator of federal New Markets Tax Credits. Spencer has also been an entrepreneur in the energy field and a real estate developer. He served on the Clinton White House staff for four years, including as Special Assistant to Vice President Al Gore. For eight years he served as Democratic National Committeeman for Maine. He is a board member of Maine Coast Heritage Trust, a leading state-wide land trust, where he serves as the Chair of the Public Policy Committee, on the Executive Committee, the Lands Committee, the Governance Committee, the DEIJ Working Group, and on the board of an affiliated LLC. He has also previously served as president of the board of Opportunity Maine, an education policy non-profit, and as president of the Portland Development Corporation, the city’s economic development and loan authority, and on the board of Maine and Company, a non-profit focused on state business attraction. As a high school student, he served as Head Page of the U.S. Senate. He received a BA degree cum laude in government from Harvard College and MBA degree from Harvard Business School.

30 Federal Street
Brunswick, ME 04011
charles.spies@ceiboulos.com

Charlie Spies

President and Managing Director

30 Federal Street
Brunswick, ME 04011
charles.spies@ceiboulos.com

Charlie Spies is Managing Director of CEI-Boulos Capital Management, LLC, where he focuses on capital raising. He is also a member of the company’s board of directors.

Charlie recently retired as CEO of CEI Capital, where he oversaw all aspects of the organization’s operations including: capital sourcing and deployment; project sourcing and underwriting; investment recommendations; accounting; compliance; asset management; and public relations. Under his leadership, CCML raised and deployed $1.02 billion in federal and state New Markets Tax Credit (NMTC) allocation in more than 95 projects across the U.S. without a single year of financial loss, making CCML one of the nation’s leading allocatees of federal NMTCs. Like CEI, CCML’s focus on projects located in underinvested rural communities has helped to create and preserve 8,849 jobs and the firm has entered into Community Benefit Agreements that directed over $12.5 million in additional investments into programs that support people and communities with low incomes.

Prior to joining CEI Capital in 2006, Charlie served as chief operating officer for the Gulf of Maine Ocean Observing System. Through creative and strategic management, he successfully led the organization through a 73% cut in federal funding by diversifying revenue sources. He grew an individual membership program and secured direct funding from the State of Maine, including a $500,000 emergency appropriation. He has also served as CEO for the Finance Authority of Maine (FAME) and president and CEO of the National Association of Seed and Venture Funds. As one example of his capital raising experience, Charlie established and secured funding at FAME for a $150 MM secondary market for student loans. While managing the Small Enterprise Growth Fund at FAME he also raised and invested over $9M in funds for seed-stage venture capital investments from both public and private sources. Until he exited CEI Capital Management in September 2020, Charlie served for ten years on the executive committee of the board of the New Markets Tax Credit Coalition.

He received a B.S. in forest utilization and an M.S. in forest entomology from the University of Maine, and an M.B.A. from Southern New Hampshire University.

Drew Sigfridson

Managing Director

Drew Sigfridson is a co-founder and Managing Director of CEI-Boulos Capital Management, LLC, where he helps source and underwrite qualified Opportunity Zone social impact investments. He is also a member of the company’s board of directors. He has worked in commercial real estate for over 20 years and is Managing Director at The Boulos Company, where he focuses on strategic growth, new business development, brokerage of investment and development projects and operations in Maine and New Hampshire. Drew also works on Class A office leasing, industrial developments and corporate representation on acquisitions and dispositions. He has served as director and past president for the Maine Commercial Association of Realtors, past president of the Maine Real Estate & Development Association, and past chairman of the Avesta Housing Board of Directors. He currently sits on the board of directors for the Society of Industrial and Office Realtors Chapter of New England and CIANBRO Construction.  Drew holds real estate commission licenses in Maine and New Hampshire, and holds a dual-certification as an office and industrial specialist in the Society of Industrial and Office Realtors (SIOR). He is a graduate of Bowdoin College, Cum Laude, with a B.A. in government and history.  

Morris Fisher

Managing Director

Morris Fisher is Managing Director of CEI-Boulos Capital Management, LLC, where he helps source and underwrite qualified Opportunity Zone social impact investments. He is also a member of the company’s board of directors. Morris has been President of Boulos Asset Management since 2005. He is responsible for leading a team of property management professionals, developing and implementing company strategy and, with his 30 years of commercial real estate experience, spearheads the company’s commitment to help clients achieve their real estate objectives. Fisher previously served as Controller and Chief Financial Officer and became a Principal of the firm in 1995. Having years of real estate development, operations, leasing and finance experience, his responsibilities include directing the operation of a property management company with 50 employees and real estate projects under management totaling 5 million square feet of commercial space. He also provides strategic real estate advice to the firm’s clients. Fisher has extensive experience in the development, marketing, leasing and sale of major retail, office and industrial properties in both downtown and suburban locations. Fisher is a Trustee of Maine Medical Center and serves on other for profit and not for profit boards. He is a former officer and member of the board of Portland Public Library, The Park Danforth, Catholic Charities of Maine and the Portland Downtown District. Prior to joining Boulos Asset Management's Property Management division, he was a senior accountant with KPMG Peat Marwick.

Charles (CJ) Masterson

Investment Manager

cmasterson@ceiboulos.com

Charles (CJ) Masterson is the Investment Manager at CEI-Boulos Capital Management where he focuses on deal generation and financial underwriting for the group’s Opportunity Zone investments. CJ graduated from Bowdoin College in 2019 with a B.A. in Economics and concentrations in both Arabic and Mathematics. During his time at Bowdoin, CJ was a member of the Men’s Varsity Soccer team that won the 2015 NESCAC Championship and earned bids to two, DIII NCAA Men’s College Soccer Tournaments. CJ previously worked as an Acquisitions Intern at STAG Industrial, a Boston-based Real Estate Investment Trust (REIT). He has also completed an MIT Certificate Program on Commercial Real Estate Analysis and Investment, a summer program in Mathematics at Brown University, and a summer program in Economics at Harvard University.

30 Federal Street
Brunswick, ME 04011
207-504-5890elizabeth.rogers@ceimaine.org

Elizabeth Rogers

Chief Communications Officer

30 Federal Street
Brunswick, ME 04011
207-504-5890elizabeth.rogers@ceimaine.org

Elizabeth Rogers is the chief communications officer at CEI, and oversees the administration of CEI Investment Notes. She leads communications, marketing, and branding to advance the organization’s mission-driven investing, business advising and state and federal policy efforts. Previously, she held consecutive positions including vice president, overseeing communications, advocacy and programming for over 12 years at a national organization dedicated to increasing access to dental care for underserved populations. Elizabeth created and led an award-winning multi-year Campaign for Oral Health Equity with funding from the W.K. Kellogg Foundation and The Robert Wood Johnson Foundation, which catalyzed state and federal policy changes. Elizabeth began her career as a producer at Chicago Public Radio, and also owned Rogers Public Relations Co. in Chicago. Elizabeth holds a B.A. in history from the University of Virginia; a B.F.A. from the School of the Art Institute of Chicago; and an M.S. in health policy and management from the Muskie School of Public Service at the University of Southern Maine. She helps to lead an initiative conducting public opinion and messaging research on climate-related policy solutions for the Maine Climate Table.

Board of Directors

  • Betsy BiemannCEO
    Coastal Enterprises, Inc.
  • Morris FisherPresident
    Boulos Asset Management
  • Drew SigfridsonManaging Director
    The Boulos Company
  • Charlie SpiesManaging Director
    CEI-Boulos Capital Management
Coastal Enterprises, Inc.
Brunswick, ME

Betsy Biemann

CEO

Coastal Enterprises, Inc.
Brunswick, ME
Boulos Asset Management
Portland, ME

Morris Fisher

President

Boulos Asset Management
Portland, ME
The Boulos Company
Portland, ME

Drew Sigfridson

Managing Director

The Boulos Company
Portland, ME
CEI-Boulos Capital Management
Brunswick, ME

Charlie Spies

Managing Director

CEI-Boulos Capital Management
Brunswick, ME

Social Impact Advisory Board to the Woodforest CEI-Boulos Opportunity Fund

Aisha Benson

Executive Vice President, TruFund Financial Services, Director NMTC – Empowerment Reinvestment Fund, LLCs

Aisha Benson, Executive Vice President, TruFund Financial Services, Director NMTC – Empowerment Reinvestment Fund, LLCs, is responsible for directing, managing, and integrating multi-disciplined team functions related to the delivery of lending services, tax credit deployment and TA programs across TruFund's footprint. She also oversees program design and implementation, resource partner selection and management, and the coordination of outreach and business development efforts for TruFund’s programs. During her tenure, numerous multi-million-dollar capital access, guaranty and grant programs have fallen under her direct management. Prior to TruFund, Ms. Benson served as VP of Business Lending at Carver Federal Savings, and as VP of Commercial Lending at JP Morgan Chase. She has 27 years’ experience deploying capital to Low Income Communities, including acquisition, construction and permanent finance projects. She has deployed $108 million in NMTCs and $175 million of capital to low income communities, including $75 million in loans to small businesses and non-profits. Based on her vast experience, Ms. Benson serves on several key industry Boards, including Opportunity Finance Network (OFN), the NMTC Coalition (Executive Committee member) and NY CDFI Coalition (founding member). She also serves on the Advisory Boards of the Woodforest CEI-Boulos Opportunity Fund and the Community Development Entities of US Bank and Coastal Enterprises. Ms. Benson holds a B.A. in Psychology, Cum Laude from Columbia University and a certificate through a Citi/OFN Sponsored Leadership Training Program for CDFI Executives at Wharton University. 

30 Federal Street
Brunswick, ME 04011
207-504-5695betsy.biemann@ceimaine.org

Betsy Biemann

Chief Executive Officer

30 Federal Street
Brunswick, ME 04011
207-504-5695betsy.biemann@ceimaine.org

Betsy Biemann joined Coastal Enterprises Inc. in 2016 as its second Chief Executive Officer. Prior to her appointment, Betsy led the Maine Food Cluster Project of the Mossavar-Rahmani Center for Business and Government at Harvard University and advised businesses, nonprofit organizations and social enterprises in Maine and nationally. From 2005 to 2012 she was president of the Maine Technology Institute, investing in Maine companies and initiatives seeking to grow high-potential sectors of Maine’s economy. Before to her move to Maine, Betsy served as associate director at The Rockefeller Foundation in New York City, where she managed a national grant and investment program aiming to increase employment in low-income communities. She joined Rockefeller’s staff in 1996 after working in international development, principally in Africa. She earned her B.A. in biology and the history of science at Harvard University and her M.P.A. at Princeton University’s School of Public & International Affairs. Betsy serves on the board of the Opportunity Finance Network and as board member and treasurer of the Elmina B. Sewall Foundation.  In May 2020, she was appointed by Governor Janet Mills to Maine’s Economic Recovery Committee, tasked with recommending strategies to stabilize and grow the Maine economy in response to the COVID pandemic.

Daniel Galindo

Senior Vice President, Community Development and Strategy Director for Woodforest National Bank

Daniel Galindo serves as Senior Vice President, Community Development and Strategy Director for Woodforest National Bank. Daniel is responsible for the development, implementation, expansion, and direct oversight of groundbreaking, award-winning strategic initiatives in retail banking, lending, investments, and corporate responsibility across Woodforest’s 17 state footprint. Daniel has nearly 20 years of banking, community and economic development, regulatory, public policy, and relationship management experience. He is mission-driven and passionate about serving and advocating for communities with complex challenges, while implementing innovative forward-thinking capital solutions.

Daniel’s leadership has led Woodforest to create complex and innovative solutions to ensure communities thrive, while delivering a historic and monumental Outstanding Community Reinvestment Act (CRA) rating (Large Bank) for the Bank. He also manages regulatory, credit risk, profitability, and impact through the Community Reinvestment impact investing and loan portfolios for the Bank. Daniel is a skilled professional in financial structuring through Community Development Financial Institutions, Private Equity Funds, Opportunity Zone Funds, Small Business Investment Companies, Rural Business Investment Companies, and Special Purpose Vehicles. Daniel is also responsible for Woodforest’s Community Development, Minority Deposit Institution, and Impact Investing strategy teams.

Daniel is a strong advocate of community banking, financial inclusion, access to capital in underserved communities, entrepreneurship, and affordable housing. He serves on the Board of Directors for the Independent Bankers Association of Texas Foundation (IBAT), serves as Chairman of Centrant Community Capital, Alamo Community Group, San Antonio Hispanic Chamber of Commerce, and the United States Hispanic Chamber of Commerce Foundation. He has received numerous industry recognitions such as the 2020 San Antonio Business Journal 40 under 40, Advocate of the Year from the San Antonio Hispanic Chamber of Commerce, American Bankers Association’s Commitment Award on Affordable Housing, Consumer Bankers Association for Woodforest Foundry (accelerator program), was recently highlighted by Hispanic Executive Magazine as a thought leader in his field, and received the 2021 ICBA Independent Banker 40 under 40 Emerging Community Bank Leader award.

Daniel is a longtime resident of San Antonio, Texas, and holds a bachelor’s degree in Finance from Texas A&M University. A proud husband, and father to three young girls. Daniel is completing his Executive MBA in Banking and Financial Institutions with graduation in July 2021.

Marten Jenkins

President and CEO of the Natural Capital Investment Fund

Marten Jenkins is the President and CEO of the Natural Capital Investment Fund, which finances and advises small to mid-size organizations primarily based in rural and underserved communities across WV, NC and the Appalachian regions of MD, VA, KY, TN, OH, SC and GA.  He currently serves on the Board of Appalachian Community Capital and CDFI Coalition and River Gorge Capital  and MVB Community Development Partnership Inc.  Advisory Boards. Previously, he was a U.S. Peace Corps volunteer in the Philippines and a research assistant for the World Bank in the Environmental Policy and Research Division. Marten holds an M.S. in Environmental Management from Duke University’s Nicholas School of the Environment and a B.A. in Economics and Business Administration from Colby College.

Buzz Roberts

President and CEO, National Association of Affordable Housing Lenders

Benson F. “Buzz” Roberts is the President and CEO of the National Association of Affordable Housing Lenders (NAAHL). Buzz was the Director of the Office of Small Business, Community Development and Housing Policy at the U.S. Treasury Department from 2011 to 2015. He was previously Senior Vice President for Policy and Program Development at the Local Initiatives Support Corporation (LISC), a leading nonprofit investor in low‐income community development. Buzz has helped to create the Low‐Income Housing Tax Credit; the New Markets Tax Credit; the HOME housing partnerships program; regulatory changes to the Community Reinvestment Act; the Capital Magnet Fund; Treasury funding for FHA multifamily risk‐sharing loans to finance affordable rental housing; and bond guarantees for CDFIs. He has been a board member of several national nonprofit organizations and coalitions and has written extensively about affordable housing and neighborhood revitalization.

Noelle St.Clair

Vice President, Impact Investing and Strategic Initiatives, Woodforest National Bank

Noelle St.Clair is Vice President, Impact Investing and Strategic Initiatives at Woodforest National Bank. In this role, St.Clair has spearheaded the Bank’s Opportunity Zone investment strategy across its 17 state footprint in line with Community Reinvestment Act objectives. The Woodforest CEI-Boulos Opportunity Fund was recognized as a Forbes OZ 20: Opportunity Zone Catalyst and Woodforest was the only bank on the inaugural list. Noelle has also expanded the Bank’s impact investing work by identifying and executing innovative, high impact investments across asset classes.

Prior to joining Woodforest, St.Clair served as Advisor and Outreach Manager at the Federal Reserve Bank of Philadelphia, where she published research and hosted national events on community development finance and impact investing trends. St.Clair was formerly a licensed securities agent at Calvert Foundation, an impact investing pioneer whose Community Investment Note channels capital to organizations and social enterprises conducting community development globally. St.Clair is an advisor to Blueprint Local, ImpactPHL and Community Lenders PA. St.Clair is a graduate of Leadership Philadelphia and a founding board member of Net Impact Philadelphia Professional Chapter. She has an MBA from the LeBow College of Business at Drexel University and BAs in Economics and Philosophy from the Schreyer Honors College at Penn State University.

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