Our Team

The Gemstone Group is a combination of investment and merchant banking; renewable energy project development; energy efficiency contracting; and developer and manager of residential solar leasing and energy efficiency loan programs.

The Gemstone group of companies includes Gemstone Lease Management, LLC which developed and operates the Connecticut Solar Leasing Program and was the first state sponsored residential solar leasing program in the country.  Gemstone also developed the highly successful Keystone Home Energy Loan Program (Keystone HELP), a Pennsylvania program which is a model for consumer energy efficiency lending.  Another affiliate is Tier 1 Generation, LLC which develops and operates renewable energy systems and aggregates renewable energy credits.  Orange Energy Solutions, LLC is the premier provider of home performance and energy efficiency contracting services in the Philadelphia area serving the residential and small commercial building market.  Search Engine Partners, LLC is a recruting firm which specializes in matching talented individuals with the needs of the firm’s clients in areas such as finance, accounting, information technology, sales and marketing, and the executive suite.

Gary D. Kleiman- Gary founded The Gemstone Group, Inc. and a group of affiliated companies in 1993.  During Gemstone’s first decade, Gary led the financing of many high growth companies and facilitated leveraged buyouts and other corporate finance transactions such as initial public offerings, private equity offerings and debt restructurings.  Along the way, he founded several companies to provide complementary services to Gemstone’s customer base.  Over much of the past decade, Gary has transitioned Gemstone’s practice towards the renewable energy and energy efficiency industries.  Leveraging relationships developed over many years, Gary has utilized project financing and sophisticated tax driven financing structures to finance innovative projects, programs and companies.

Prior to founding the Gemstone, Gary was Managing Director of PNC Corporate Finance, the investment banking affiliate of PNC Bank. At PNC, he managed activities that included: private placements of senior, subordinated, and mezzanine debt and equity capital; tax-exempt industrial revenue bonds; syndicated bank loans; and advisory services including M&A, valuations, and strategic planning. He has completed transactions with a value in excess of $2 billion during his career. Gary graduated from the Indiana University School of Business.

Adam J. Stern- Adam joined Gemstone in 2002 and was instrumental in creating and expanding Gemstone’s renewable energy business.  Adam currently sits on the Board of the Mid Atlantic Solar Energy Industry Association and is an active participant in other regional renewable energy associations.

Prior to joining Gemstone, Adam was Chief Financial Officer and a founder of GFS Holdings Co. (GFS), a $30 million bank and Internet bank computer data processing company, until its merger with Aurum Technology, Inc. (formerly a division of EDS) in early 2001. He and other founders coordinated the fundraising of nearly $18 million in private equity and over $13 million in bank financing. He was an integral part of the mergers & acquisitions and integration team which included five buy side acquisitions, one sell side merger, and numerous rounds of private equity and bank financings over a 3 year period.

Prior to GFS, Adam spent nearly five years as Controller and CFO of a Philadelphia-based wholesale distribution business and directed the company’s electronic commerce program. He also spent several years as a Senior Financial Analyst for CoreStates Bank, N.A. serving its large corporate, real estate, cash management and investment banking areas.  Adam graduated with his MBA from the George Washington University with a concentration in Finance and Investments. He also received dual undergraduate degrees in Finance and Real Estate Development from The American University.

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