Posts Tagged ‘finance news’

DoubleLine UCITS Funds Now Available on Allfunds Bank Platform

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LOS ANGELES, Oct. 24, 2018 /PRNewswire-HISPANIC PR WIRE/ – DoubleLine Capital LP has begun offering its Luxembourg-domiciled UCITS funds on the Allfunds Bank platform, an open architecture, worldwide distributor of mutual funds.

“Allfunds is one of the leading international distribution platforms,” said Ron Redell, executive vice president of DoubleLine. “The availability of DoubleLine Funds (Luxembourg) on this distribution network is strategically important for DoubleLine’s UCITS funds global expansion.”

The term UCITS stands for Undertakings for the Collective Investment of Transferable Securities, an open-end fund vehicle available in Europe, Latin America and many other countries outside the U.S. The sub-funds of the DoubleLine Funds (Luxembourg) UCITS currently include the DoubleLine Shiller Enhanced CAPE® equity sub-fund, which is co-managed by DoubleLine Alternatives LP and DoubleLine Capital LP, and DoubleLine Short Duration fixed income sub-fund, which is managed by DoubleLine Capital LP. Depending on an investor’s country of residence, the sub-funds are available via retail and institutional share classes denominated in various currencies.

Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €370 Billion assets under administration and offers more than 64,400 funds from over 1,200 fund managers. Allfunds Bank Group has a local presence in Luxembourg, Switzerland, United Kingdom, Spain, Italy, United Arab Emirates, Singapore, Chile and Colombia and has more than 605 institutional clients, including major commercial banks, private banks, insurance companies, pension funds, fund managers, financial supermarkets, international brokers, and specialist firms from 45 different countries. Allfunds Bank Group operates in Asia through the entity of Allfunds Singapore Branch.

About DoubleLine Capital LP

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. As of the September 30, 2018 end of the third quarter, DoubleLine Capital and its related companies (”DoubleLine”) managed approximately $123 billion in assets across all vehicles, including open-end mutual funds, collective investment trusts, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS and separate accounts. DoubleLine’s offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

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Must Read Whitepaper, ‘Making Money With Network Slicing’, Hits The Shelves

Network Slicing Leader Cloudstreet Showcases the Vast Opportunities of this Promising New Mobile Business Model

CaribPR Wire, Espoo, Finland & Berlin, Germany, Oct. 23, 2018: Cloudstreet, ‘The Network Slicing Company’, is pleased to announce the publication of its most recent industry whitepaper, “Making Money with Network Slicing”. A business-forward take on the practice, the paper puts slicing at the very center of the mobile industry’s transition now underway. With a focus on practical, market-ready models, the authors unravel the misconceptions about Network Slicing, exploring its potential to disrupt the cultural and business logjams that have hampered growth.

Less about technology than a new way of doing business, Network Slicing has quickly risen from a mere buzzword to a budget line item, as mobile operators retool for the opportunities to come

“Inherently disruptive, it will create new business ecosystems to support unique and evolving demands that touch quite literally every industry sector and market segment. Like any evolution, it will start small and then scale exponentially as demand grows and the practice becomes more refined. The financial returns will quickly follow and soon become a core top line revenue generator.”

Showcasing several high-value, low-barrier examples including Fixed Wireless, Private LTE, Mobile Gaming and Live User Generated Content, to name a few, the study charts a carrier-friendly course for Network Slicing in today’s 4G networks, and a cogent strategy for staying competitive in what promises to be a highly competitive market in 5G.

“No doubt but that carriers need to lead the way and begin the process of transforming their businesses today” said Mika Skarp, Founder and CEO of Cloudstreet “The next generation of telecom isn’t just about improvements in speed and latency. These are not selling points in and of themselves, but reliability is,” he adds. “There are huge expectations of mobile networks that go well beyond what new antennas and spectrum alone can address. The moment that carriers move on from Best Effort to differentiated Quality-of-Experience and SLA-based business models, the next-generation of mobile will truly begin”

On the occasion of the paper’s publication, Mika Skarp wil be delivering a companion presentation at the Broadband World Forum, Network Slicing Summit, in Berlin Tuesday, October 23rd, 2018.

Analyst firm Arthur D. Little suggests that in meeting these demands, carriers can expect a 34% boost in revenues to 2026. That’s a big jump from today’s annual growth average of about 1%. But as the whitepaper points out, addressing the unique needs of multiple segments, particularly in industry 4.0, means being mission-critical ready, leveraging the power of Network Slicing to deliver virtualized dedicated resources to customers of all stripes. And it’s that special recipe, argue the authors, that will have a positive knock-on disruptive effect.

“Traditional go-to-market cycles will accelerate, mobile operator relationships with enterprise, government and small business will become more strategic, networks will become more efficient, resource allocation more logical and both current and future investments in capacity will show dramatically greater return.”

Drawing on years of experience as the first to deploy a market-ready Network Slicing capability at scale, as well as some of the most advanced PoCs, including a demonstration of End-to-End Network Slicing at the recent Telecom Infra Project’s TIP Summit 18 in London, Cloudstreet provides key insights from across functional groups, to paint a clear picture of this promising, soon-to-be defining feature of mobile networks.

Readers interested in the whitepaper can visit the Cloudstreet web site for their online or printable version. Any Mobile Operators interested in a consulting session with Cloudstreet on how Network Slicing can help them achieve their business objectives are invited to email us at sales@cloudstreet.co


About Cloudstreet

Finland-based Cloudstreet is a US and EU patented Network Slicing innovator dedicated to revolutionizing the mobile experience, empowering user choice and driving new MNO revenues. Leveraging the power of Software Defined Networks and Network Function Virtualization (SDN/NFV), Cloudstreet provides the world’s first in-market, carrier-grade Network Slicing Platform. Tailoring Quality of Experience to user demand and context, Cloudstreet delivers application-aware slices for any use case with SLA-assured performance for capacity, latency and throughput. Awarded the EC’s Horizon 2020 grant and Best Connectivity Solution (WCA16), Cloudstreet’s cost-reducing, revenue-generating platform is deployable in today’s 4G networks for any 5G-envisioned network slicing use cases. Visit us at www.cloudstreet.co.

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Fidelis Insurance Raises Approximately $1.5 Billion In Initial Capital From Leading Investors; Innovative Hybrid Model Designed To Maximize Return On Equity

Industry Veterans Richard Brindle and Neil McConachie to Lead Company

Crestview Partners, CVC Capital Partners and Pine Brook are Founding Investors

HAMILTON, Bermuda, June 9, 2015 /PRNewswire/ — Fidelis Insurance Holdings Limited (”Fidelis” or “the Company”), a newly-formed specialty insurance and reinsurance provider employing an innovative model to optimize both the underwriting and asset sides of the balance sheet, today announced that it has secured approximately $1.5 billion in equity capital. This marks one of the largest industry capital raises ever, and immediately makes Bermuda-based Fidelis an important new underwriter in the global market. The Company has received an A.M. Best rating of A- (Excellent).

Fidelis was founded and will be led by two renowned industry veterans: Richard Brindle, who will serve as Group Chief Executive Officer and Chief Underwriting Officer, and Neil McConachie, who will be Group Chief Financial Officer. Previously, both Brindle and McConachie successfully built Lancashire Holdings from a startup to a London Stock Exchange-listed $2.4 billion market cap company that consistently outperformed its peers.

The founding investors are funds of Crestview Partners, CVC Capital Partners, and Pine Brook, private equity firms with deep financial services expertise who have invested a combined $650 million. Principals from all three firms backed members of the Fidelis team at their previous companies. The remainder of the capital investment comes from individual investors, family offices and institutional investors. The total capital raised was comprised of both preferred and common equity.

“We are very excited to introduce a new, stronger model to the insurance industry with Fidelis,” said Brindle. “By focusing on either assets or liabilities, legacy insurance models have failed to optimize shareholder returns, and the low returns generated by fixed income investments have been challenging. Fidelis will pursue a total return strategy by tactically shifting capital and risk between insurance and investments to maximize our return on equity across market cycles. We hope that others follow this model, as we strongly believe it will be very good for the industry, resulting in more responsible and less volatile underwriting.”

“But we are first and foremost an underwriting company,” Brindle continued. “We have a vastly experienced management team that is strongly supportive of the traditional broker distribution network and has, over decades, developed many strong broker and client relationships. These relationships will sit at the heart of everything we do at Fidelis.”

In contrast to reinsurers who give exclusive investment manager mandates to their hedge fund owners, Fidelis will allocate capital to top-tier managers running more diverse strategies that are well-suited to different parts of its book, and will have the ability to change managers and allocations. Fidelis Chief Investment Officer Edward Russell will manage the investment portfolio under the direction of the Investment Committee, working closely with advisor Goldman Sachs’ Alternative Investments & Manager Selection (AIMS) Group.

“In addition to seeking returns that outperform peers, we believe the diversification in assets will protect Fidelis against financial market volatility better than a single-manager strategy would,” said McConachie. “Optimizing across hard and soft underwriting markets, as well as through different investment cycles makes Fidelis not only a strong new player, but also very attractive for investors looking to reduce downside risk.”

Fidelis will underwrite a book of insurance and reinsurance business principally in the property, energy, marine and aviation risk classes. The Company expects to begin underwriting immediately.

Fidelis was advised by Clifford Chance US LLP and PricewaterhouseCoopers LLP. In addition, Goldman, Sachs & Co. acted as a financial advisor to Fidelis and as the placement agent for the capital raise. Crestview Partners and Pine Brook were advised by Skadden, Arps, Slate, Meagher & Flom LLP, and CVC Capital was advised by Cadwalader, Wickersham & Taft LLP, AON Securities Inc. and KPMG LLP.

About Fidelis Insurance
Fidelis Insurance Holdings Limited is a privately owned Bermuda-based holding company, which, through its wholly-owned subsidiaries, is a global provider of specialty insurance and reinsurance products for property, energy, marine and aviation risk classes. Fidelis employs a total return strategy by tactically shifting capital and risk between insurance and investments to maximize the return on equity across market cycles. Fidelis is rated A- (Excellent) by A.M. Best Company, Inc. Additional information regarding Fidelis may be found at www.fidelisinsurance.com.

About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview’s senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: energy, financial services, healthcare, industrials and media. For more information, please visit www.crestview.com.

About CVC Capital Partners
CVC Capital Partners is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 22 offices and over 300 employees throughout Europe, Asia and the US. CVC has a dedicated global financial services team with deep property and casualty insurance expertise, having led investments in a number of successful insurance and reinsurance companies in Bermuda, the United States and the United Kingdom. To date, CVC has secured commitments of over $79 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over $120 billion. For further information about CVC please visit: www.cvc.com.

About Pine Brook
Pine Brook is an investment firm that manages more than $6.0 billion of limited partner commitments that makes “business building” and other equity investments, primarily in energy and financial services businesses. Pine Brook’s team of investment professionals collectively has over 300 years of experience financing the growth of businesses with equity, working alongside talented entrepreneurs and experienced management teams to build businesses of scale without relying on acquisition leverage. For more information about Pine Brook, please visit the company’s web site at www.pinebrookpartners.com.

Note Regarding Forward-Looking Statements
Certain information contained in this release constitutes “forwardlooking statements,” which can be identified by the use of forwardlooking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Company may differ materially from those reflected or contemplated in such forwardlooking statements. The company undertakes no obligation to update any such forward-looking statements resulting from any change in facts or circumstances or new developments.

All references to “$” are to U.S. Dollars.

CONTACT: US Media Contact – Tom Faust, Stanton Public Relations & Marketing, (646) 502-3513, TFaust@StantonPRM.com, or UK Media Contact – Peter Rigby, Haggie Partners, +44 207 562 4444, peter.rigby@haggie.co.uk

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