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Meet the Team

Arcadia’s strength is rooted in the people behind the platform, a team shaped by decades of experience across investment, finance, operations, and global markets.

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Across continents and sectors, our professionals bring together institutional discipline, entrepreneurial perspective, and a shared commitment to execution. Each member of the Arcadia team contributes specialized expertise, trusted relationships, and a common responsibility: to deliver with integrity, create lasting value, and move every partnership forward with purpose

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RYAN PAUL

Chairman Emeritus

Rachel, an investment executive with extensive institutional and multinational experience in private equity, investment management, and capital markets. She has a proven track record of raising capital, structuring investments, and scaling businesses across diverse industries, including technology, logistics, real estate, healthcare, consumer goods, and renewables. As Chief Investment Officer at Arcadia Holdings Corp and Managing Partner at Arcadia Consulting Inc, Rachel has led significant private equity transactions and strategic investments globally. Her career spans top-tier institutions such as Deloitte, UBS, and BPI Capital Corporation, as well as leadership roles at APC Holdings and DYCM Power. Rachel holds an MSc in Finance from Skema Business School, Paris, and a BSc in Corporate Management from De La Salle University.

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RACHEL LUCERO 

President & CEO

Rachel, an investment executive with extensive institutional and multinational experience in private equity, investment management, and capital markets. She has a proven track record of raising capital, structuring investments, and scaling businesses across diverse industries, including technology, logistics, real estate, healthcare, consumer goods, and renewables. As Chief Investment Officer at Arcadia Holdings Corp and Managing Partner at Arcadia Consulting Inc, Rachel has led significant private equity transactions and strategic investments globally. Her career spans top-tier institutions such as Deloitte, UBS, and BPI Capital Corporation, as well as leadership roles at APC Holdings and DYCM Power. Rachel holds an MSc in Finance from Skema Business School, Paris, and a BSc in Corporate Management from De La Salle University.

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HECTOR FORNELLI 

Senior Managing Partner

Hector is a seasoned professional with extensive experience in corporate turnarounds, M&A, investment banking, private equity, and wealth management. He has raised and deployed over $1 billion for clients through private equity, private credit, and other financial instruments. Hector is also highly skilled in financial modeling and deal structuring, delivering tailored strategies that drive growth and maximize value creation. Hector has an Industrial and Systems Engineering degree from TEC de Monterrey and a Top Management Master from Saïd Business School, Oxford, with a strong focus on private equity investments in infrastructure. He started his professional career with The London Consulting Group and then moved on to be one of the founding members of Move Consulting and is currently a Managing Partner at Arcadia Holdings Corp.

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JOHN IBASCO 

Partner

John brings a wealth of experience in investment banking, financial management, and capital markets. Currently a Partner at Arcadia Holdings Corp, John has held senior roles at leading firms including Cardinal Health, BPI Capital Corporation, and Genpact.  He was instrumental in leading enterprise-wide financial initiatives, optimizing capital structures, and driving executive decision-making. His ability to align financial operations with business goals has made him a trusted advisor to C-suites across the healthcare and infrastructure spaces. John holds an MBA from Carnegie Mellon University and a Bachelor's degree in Economics from Cornell University, equipping him with a robust foundation in finance, strategic leadership, and operational excellence.

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TODD BENNICE 

Partner

Todd is an investment and risk management executive with extensive experience in private equity, capital formation, project financing, and alternative investments. He has a proven track record of structuring and funding complex transactions across infrastructure, renewable energy, data centers, real estate, hospitality, and sports. Todd has led investment vehicles, sourced and deployed capital for private market opportunities, and advised businesses and investors on strategic growth, risk management, and long-term value creation. With more than two decades of executive leadership, he has successfully guided institutional and private investors through capital raising, investment structuring, and portfolio development across multiple industries.

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RAYMOND KUDUKIS 

Partner

Raymond Kudukis is partner at Arcadia Holdings Corp., where he leads the consulting and advisory arm, building investor-ready financial infrastructure and scaling businesses across sectors. He previously served as SVP of Capital Placements at Sigiriya Growth Advisors, and held long-tenured VP roles at Kudukis Group International and Datacreed, driving recruitment, technology, and growth strategies across North America and Latin America. An active investor, including in The Otto Experience, Raymond brings over 15 years of cross-sector expertise in capital advisory, operations, and early-stage ventures. He is recognized for forging lasting partnerships, connecting capital with innovation, and creating scalable platforms for growth. 

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ALICE CHE 

Partner

Alice is a designated CPA with over 15 years of experience working in various accounting and finance functions. Prior to joining APC Holdings, Alice was as a Director for a boutique investment bank in the US and Latin America, working on transactions up to $500.0M. She has extensive public practice audit experience working at KPMG, and she also has experience in corporate finance and due diligence with the largest national accounting firm in Canada, MNP. Alice has a Bachelor’s degree in Economics from the University of Victoria and is a Chartered Professional Accountant (CPA Canada), bringing a strong financial and analytical skill set to private equity. Her expertise in financial strategy and risk management enables her to drive value creation and optimize investment performance.

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ANA ALMEIDA 

Partner

Ana is an accomplished finance and business strategy professional with experience in financial administration, auditing, business restructuring, and enterprise strategy. She brings a disciplined analytical approach to financial diagnostics, governance, and investment readiness. She supports corporate growth and capital initiatives, including credit placement, private funding, and structured financing solutions. She also brings sector experience in mining, with a focus on project assessment, compliance, and investment preparation. In addition, Ana is a certified private facilitator in Alternative Dispute Resolution mechanisms, providing a practical framework for stakeholder alignment and negotiated outcomes. Ana holds a Master’s degree in Auditing and formal training in Financial Administration.

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ANDREW DURAN

Partner

Todd is an investment and risk management executive with extensive experience in private equity, capital formation, project financing, and alternative investments. He has a proven track record of structuring and funding complex transactions across infrastructure, renewable energy, data centers, real estate, hospitality, and sports. Todd has led investment vehicles, sourced and deployed capital for private market opportunities, and advised businesses and investors on strategic growth, risk management, and long-term value creation. With more than two decades of executive leadership, he has successfully guided institutional and private investors through capital raising, investment structuring, and portfolio development across multiple industries.

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MAX RODRIGUEZ

Commercial Partner

Max is an investment management professional with vast experience in capital raising, business development, and fund distribution. He supports capital formation and investor engagement across private equity, private credit, real estate, and alternative investment. His background includes managing institutional relationships, and fundraising initiatives for investment managers and sponsors. Max has held leadership roles at Barings, J.P. Morgan Asset Management, and Tocqueville Asset Management. He brings deep expertise in alternatives, hedge funds, and defined benefit plans. Max holds an MBA in Finance from USC’s Marshall School of Business and a B.S. in Finance from Boston College’s Carroll School of Management.

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JOHN DENES

Commercial Partner, Private Equity

John is a veteran private equity and capital markets executive with extensive experience in fundraising, investment management, and alternative assets. He has a proven track record of raising capital for private equity, hedge funds, real estate, and institutional investment strategies, including more than $500 million for a Big Data fund, $100 million for a Biofuels fund, and $600 million for a Global Macro Long Short fund. John founded REO Capital in 2010 to support emerging private equity fund managers and has also raised over $200 million for real estate funds. His career includes experience across RIAs, hedge funds, and private equity firms, as well as roles at Dean Witter and Prudential Securities. John holds a B.S. from Embry-Riddle Aeronautical University and an MBA in Finance.

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STEPHEN FOOS

Commercial Partner, Private Debt Markets

Steve is a financial services executive with more than 30 years of experience across commercial finance, real estate, business development, and private debt markets. He has built a career developing financing solutions, cultivating strategic relationships, and supporting businesses across a broad range of industries. Steve leverages his financial expertise and market knowledge to identify opportunities and structure solutions for clients. He has also held leadership roles at IMAG, Inc., where he helped develop innovative financing solutions across diverse sectors. Beyond finance, Steve is the Founder of the Archon Foundation, reflecting his commitment to philanthropy and community development. He holds a Master of Accountancy from the University of Nevada, Reno.

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CARLOS LINARES

Director, Operations

Steve is a financial services executive with more than 30 years of experience across commercial finance, real estate, business development, and private debt markets. He has built a career developing financing solutions, cultivating strategic relationships, and supporting businesses across a broad range of industries. Steve leverages his financial expertise and market knowledge to identify opportunities and structure solutions for clients. He has also held leadership roles at IMAG, Inc., where he helped develop innovative financing solutions across diverse sectors. Beyond finance, Steve is the Founder of the Archon Foundation, reflecting his commitment to philanthropy and community development. He holds a Master of Accountancy from the University of Nevada, Reno.

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SHERLYN CALANGIAN

Vice President, Deal Execution

Sherlyn is an investment and finance executive with strong experience in capital advisory, financial operations, and investment execution. She structures transactions, supports capital raises, and executes strategic initiatives across sectors including energy, infrastructure, technology, and real estate. Through Arcadia’s global platform, Sherlyn works closely with leadership on investor engagement, deal structuring, and project execution across North America and Asia. Prior to joining Arcadia, Sherlyn built her foundation at Accenture, where she supported financial management and large-scale client engagements within multinational operations. She graduated Magna Cum Laude from the University of the Philippines Diliman with a degree in Business Administration.

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CELINE DEL ROSARIO

Vice President, Investor Relations

Celine is an established investor relations executive with extensive multinational experience in capital raising, stakeholder communication, and investor engagement. She has a proven track record of building strong investor networks, aligning financial strategies with communication goals, and supporting growth across sectors like real estate, infrastructure, renewables, and technology. Celine leads investor development and capital strategy initiatives. Her career spans over a decade in finance, including senior sales roles at Emirates NBD and Sykes Enterprises. Celine brings a results-driven approach to investor communication and strategic positioning. She holds a degree in Banking and Finance from Westford University and a Bachelor’s in Pharmacy from the University of the Philippines.

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© 2024 by Arcadia Consulting Inc. 

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