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Mercer introduces new principal to Insurance Investment Solutions business – Insurance Business CA

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Mercer has appointed William Gibbons as principal in its Insurance Investment Solutions business.

Gibbons joins Mercer from PwC, where he advised insurers and other financial institutions on strategic allocation, investments, asset restructuring, liquidity, market risk, and hedging. He also previously served as a director at Barclays Investment Bank, focusing on solutions for UK insurers.

Under the new role, Gibbons will provide strategic investment advice to global insurance clients struggling with the current low-yield environment. He will also be responsible for developing efficient and innovative investment solutions for insurers.

“Mercer’s Insurance Investment Solutions business is dedicated to helping clients diversify their portfolios, increase efficiency, and focus on responsible investing. It’s a great time to join the team. I look forward to working with its industry-leading experts to support clients through uncertain times and towards achieving their investment goals,” Gibbons said.

Read more: Marsh & McLennan Companies reveals financial results

Gibbons will be based in London and report to Colin Tipping, the head of Insurance Investment Solutions.

Commenting on the appointment, Tipping said: “I am delighted William has joined the team. His technical knowledge and commercial expertise will be invaluable as we design and implement capital-efficient investment strategies.”

“An increasing number of insurance clients are seeking to enhance their investment management strategy. William’s arrival positions us well and further reinforces our commitment to bringing the best of Mercer’s capabilities to insurance clients, ensuring we deliver first-class asset-based solutions.”

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Investment Corporation of Dubai Launches Dubai Global Connect, a Unique Global Wholesale Market – Canada NewsWire

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On its part, DGC has today announced it has entered into a strategic alliance with US-based Market Center Management Company (MCMC) for the development and management of DGC’s state-of-the-art permanent showroom environment which will be open year-round to qualified retail buyers and designers, manufacturers, and industry professionals, and can be fitted out by sellers according to their own style and budget. The showrooms will be closed to the public.

H.E. Mohammed I. Al Shaibani, Managing Director of the Investment Corporation of Dubai, explained: “As part of our mandate to enhance Dubai’s position as a global, competitive economy, ICD has embarked on the creation of DGC with the vision to build a unique trade infrastructure that enhances efficiencies in global trade flows through Dubai. We are excited to have MCMC on board to support our teams in realizing this vision, as well as in the development and management of the market.” 

MCMC has a legacy of sole, private ownership of the Dallas Market Center (DMC), operating in the US for 65+ years, as well as multinational experience involving both ownership and management of wholesale markeplaces including Brussels International Trade Mart and ShanghaiMart as well as consultation experience on additional projects in Colombia, Vietnam, and Portugal.

Cindy Morris, CEO of MCMC, commented: “We are pleased to be a part of this truly unique opportunity for Dubai to address industry pain points and create an important global destination for wholesale trade. This multi-year agreement aims to foster team collaboration between our companies and ultimately help create a center of commerce for buyers and sellers from around the world.”

DGC is unique as it focuses on a global audience in addition to regional audiences to create a truly origin-neutral marketplace to trade goods from all around the world. Traditionally, wholesale markets have focused on promoting domestic agendas by bringing together sellers of local products with international buyers or by presenting international products to regional buyer groups.

“DGC has been a long time in the making but is even more relevant and needed in today’s changed global trade environment. Establishing a controlled, permanent marketplace environment is perfectly timed as event producers and their attendees cope with reduced travel budgets and the need for smaller, more controlled gatherings. DGC enables traders to meet halfway by offering producers and manufacturers a window to the world in a central, easy to reach location, and by providing buyers with a safe buying environment and place of reference that is open all year round.” commented Douraid Zaghouani, COO of ICD and Chairman of Dubai Global Connect.

DGC, the “City of Trade”, is already under construction, with a purpose-built visitor centre opening in Q4 of 2020. The market is expected to be delivered in phases, with the first phase comprising of 400,000 square meters of dedicated trade facilities including on-site storage, boutique offices, an innovation hub, and a Smart Service Centre to house third party service providers.

Located at the crossroads of Dubai’s logistics corridor, at Dubai South next to Al Maktoum International Airport with a direct connection to the Jebel Ali Port, DGC’s physical infrastructure will be supported by best-in-class services and optimal business solutions at the Logistics District, including a digital wholesale trading platform which will connect wholesale sellers and buyers online and facilitate hassle-free trade through DGC.

For more information please visit: www.dubaiglobalconnect.com

Press Enquiries: [email protected]

ABOUT DGC:

Dubai Global Connect (DGC) is the world’s first wholesale market with a global focus. An initiative of the Investment Corporation of Dubai (ICD), the “City of Trade” provides purpose-built facilities and supporting infrastructure in a year-round, origin-neutral market and expo where global buyers and sellers in furniture & home, food and fashion can connect and trade at scale. DGC is an ecosystem, conveniently located in geographically advantageous Dubai, dedicated to the growth of the industries it promotes and their global traders.

ABOUT MCMC:

Market Center Management Company (MCMC) is an international market center and tradeshow management company with more than sixty-year history of development, ownership, consulting and/or management of large-scale B2B wholesale trade centers and associated tradeshows around the world.

The company currently has a global portfolio of 7 million square feet of market center trading space under management.

ABOUT ICD:

The Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, was established in May 2006 by decree (11) of 2006 under a mandate to consolidate and manage the Government of Dubai’s portfolio of commercial companies and investments.

ICD has a rich portfolio of assets, both locally and internationally, across a broad spectrum of the sectors that form the blueprint of Dubai’s dynamic economy.

About Dubai South

Dubai South is an emerging 145 sq. km. city situated within the emirate of Dubai that will ultimately sustain a population of one million.

Launched as a Government of Dubai project in 2006, the city is mandated to embody the vision of His Highness Sheikh Mohammed Bin Rashed Al Maktoum by manifesting the urban and societal themes as outlined in the Dubai Plan 2021.

Dubai South’s economic platform supports every conceivable kind of business and industry. The city is also home to Al Maktoum International Airport and the Expo 2020.

Video – https://mma.prnewswire.com/media/1276925/Dubai_Global_Connect.mp4  
Photo – https://mma.prnewswire.com/media/1276923/Dubai_Global_Connect_Phase_1.jpg  
Logo – https://mma.prnewswire.com/media/1276924/Dubai_Global_Connect_Logo.jpg  

SOURCE Investment Corporation of Dubai (ICD)

For further information: Saba Consultants, +971 44202702, [email protected]

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Victory Capital Announces Investment in Alderwood Partners | 2020-09-21 | Press Releases – Stockhouse

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Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) announced today that it has acquired, through a wholly owned subsidiary, a 15% interest in Alderwood Partners LLP (“Alderwood”). Financial terms were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200921005196/en/

Alderwood’s operating entity, Alderwood Capital, is a London-based investment advisory firm focused on taking minority stakes in specialist boutique asset management businesses. Founded in 2020 by Jonathan Little, Alderwood is planning – subject to regulatory approval – to raise a single fund to deploy its strategy. Victory Capital will have board representation at the general partner level and intends to participate as an investor in the fund.

“This investment in a proven M&A capability provides Victory Capital with a number of compelling strategic advantages,” said David Brown, Chairman and CEO of Victory Capital. “It significantly broadens our international scope for future growth, particularly in the UK and on the European continent. In addition to expanding opportunities for complementary distribution alliances and strategic partnerships leveraging organizational and regulatory platforms in non-US jurisdictions, it also provides attractive return opportunity on our investment.”

“We are very pleased to welcome Victory Capital as partners in our firm,” added Jonathan Little, Founder and Managing Partner at Alderwood. “I’ve long been an admirer of David Brown and the Victory Capital team. Victory Capital has an excellent record of supporting businesses over the long term and providing wise counsel to the management teams it backs. It is a hugely credible investor and strategic partner, and we look forward to developing our relationship over the long term. Our organisations have strong cultural alignment, and we share the view that active management in focused firms will continue to generate robust cash flow and attractive risk-adjusted IRR.”

Prior to founding Alderwood, Jonathan Little was Founder and Managing Partner of Northill Capital—a leading asset management firm acquiring majority stakes in specialist asset management firms around the world. Before that, Jonathan Little served as Global Co-Head of Asset and Wealth Management at BNY Mellon, where he also served as Vice Chairman of the Asset Management Business and Chairman of the Dreyfus Corporation; and, was Chairman of Insight Investment Management. Earlier in his career, he was Head of International Funds and Sub-Advisory at JP Morgan Investment Management and held key roles at Fidelity Investments International.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “assume,” “budget,” “continue,” “estimate,” “future,” “objective,” “outlook,” “plan,” “potential,” “predict,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Victory Capital’s control such as the COVID-19 pandemic and its effect on our business, operations and financial results going forward, as discussed in Victory Capital’s filings with the SEC, that could cause Victory Capital’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements.

Although it is not possible to identify all such risks and factors, they include, among others, the following: reductions in AUM based on investment performance, client withdrawals, difficult market conditions and other factors such as a pandemic; the nature of the Company’s contracts and investment advisory agreements; the Company’s ability to maintain historical returns and sustain its historical growth; the Company’s dependence on third parties to market its strategies and provide products or services for the operation of its business; the Company’s ability to retain key investment professionals or members of its senior management team; the Company’s reliance on the technology systems supporting its operations; the Company’s ability to successfully acquire and integrate new companies; the concentration of the Company’s investments in long-only small- and mid-cap equity and U.S. clients; risks and uncertainties associated with non-U.S. investments; the Company’s efforts to establish and develop new teams and strategies; the ability of the Company’s investment teams to identify appropriate investment opportunities; the Company’s ability to limit employee misconduct; the Company’s ability to meet the guidelines set by its clients; the Company’s exposure to potential litigation (including administrative or tax proceedings) or regulatory actions; the Company’s ability to implement effective information and cyber security policies, procedures and capabilities; the Company’s substantial indebtedness; the potential impairment of the Company’s goodwill and intangible assets; disruption to the operations of third parties whose functions are integral to the Company’s ETF platform; the Company’s determination that Victory Capital is not required to register as an “investment company” under the 1940 Act; the fluctuation of the Company’s expenses; the Company’s ability to respond to recent trends in the investment management industry; the level of regulation on investment management firms and the Company’s ability to respond to regulatory developments; the competitiveness of the investment management industry; the dual class structure of the Company’s common stock; the level of control over the Company retained by Crestview GP; the Company’s status as an emerging growth company and a controlled company; and other risks and factors listed under “Risk Factors” and elsewhere in the Company’s filings with the SEC.

Such forward-looking statements are based on numerous assumptions regarding Victory Capital’s present and future business strategies and the environment in which it will operate in the future. Any forward-looking statement made in this press release speaks only as of the date hereof. Except as required by law, Victory Capital assumes no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

About Victory Capital

Victory Capital is a diversified global asset management firm with $136.8 billion in assets under management as of August 31, 2020. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With nine autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment styles and investment vehicles including actively managed mutual funds, separately managed accounts, rules-based and active ETFs, multi-asset class strategies, custom-designed solutions and a 529 College Savings Plan.

For more information, please visit www.vcm.com or follow us: Twitter and LinkedIn .

About Alderwood Capital

Alderwood Capital was founded in 2020 by Jonathan Little. Alderwood provides advice, consultancy and support services to asset managers and regulated entities looking to make investments in the global asset management sector.

Alderwood is currently seeking FCA authorisation to manage a long-term closed end fund. For more information, please visit https://alderwoodcap.com .

Media (Alderwood)

Montfort Communications

Claire Lewis / Toto Reissland

+44 7825 588626 / +44 7976098139

alderwood@montfort.london

Investors:

Matthew Dennis, CFA

Chief of Staff

Director, Investor Relations

216-898-2412

mdennis@vcm.com

Media (Victory Capital):

Tricia Ross

310-622-8226

tross@finprofiles.com

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Is Wind Energy The Most Stable Renewables Investment – OilPrice.com

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Is Wind Energy The Most Stable Renewables Investment? | OilPrice.com

Alex Kimani

Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. 

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    Offshore wind

    The Covid-19 pandemic has wrought one of the most significant disruptions the energy market has ever faced.  A decidedly gloomy long-term future outlook due to rampant fossil fuel divestments, climate change policies, and decarbonization has been unexpectedly aggravated by a short-term, but even more severe, shock by the health crisis, and thrown the pivotal energy sector into one of its worst existential crises. Project developers, private capital, companies, institutional investors, and public markets have now shifted their attention to sustainable practices, businesses, and assets.

    Suddenly, everybody seems to be reading from the same page: We have to dramatically increase our investments in renewable energy and cut our heavy reliance on high-carbon fuels.

    Not surprisingly, wind power, the easiest to tap, most efficient renewable fuel for electricity generation, and one of the lowest carbon emitters, has gained special prominence in our clean energy transition. Offshore wind, in particular, is having its moment in the sun, with offshore wind investments quadrupling to $35 billion in the first half of 2020, representing the most growth by any energy sector during the Covid-19 crisis.

    Source: The Guardian

    Environmental crisis

    Wind power has earned an undeserved reputation as a bird and bat slayer; However, the truth is that domestic cats kill far more birds whereas wind turbines provide some of the cheapest and cleanest power around with one of the lowest environmental footprints. 

    Wind power, however, is now presenting an unforeseen environmental nightmare: Hundreds of thousands of aging wind turbine blades are coming to the end of their lives with the majority having nowhere to go but landfills.

    Unbeknownst to many clean energy buffs, wind turbine blades are typically made of non-biodegradable fiberglass or carbon fiber materials, meaning they are doomed to lay unchanged in their earthy pits for an eternity and create another environmental headache.

    Wind power is practically carbon-free, with roughly 85% of turbine components, including steel, gearing, copper wire, and electronics gearing easily recycled or reusable. Modern wind turbines are mostly made of steel, a material that is readily recyclable.

    Turbine blades, however, are a different story altogether. Related: String Of Bullish News Sends Oil Rallying Above $40

    Conventional turbines must withstand enormous strain, considering that your typical turbine can reach speeds of 180 mph and generate huge centrifugal forces and other high-impact type stresses. Further, offshore wind turbines frequently encounter particularly hostile weather conditions, including category-5 storms leading to the blades deteriorating significantly in quality over time. To ensure wind turbines meet the strength and versatility demands to perform reliably for at least two decades or so, wind turbine blades are typically constructed from a fiber/resin composite. 

    Unfortunately, these materials have so far proven to be particularly difficult to recycle. 

    Compounding this is the sheer size and bulk of your average turbine blade: Turbine blades can reach lengths longer than a Boeing 747 wing, thus making them cumbersome to handle and transport. To get a rough idea of their sheer sizes, consider that in 2018, MHI Vestas Offshore Wind launched the first commercially available double-digit turbine, the V164-10.0 MW that features 80-meter long blades weighing 35 tons each with a tip height of around 187 meters. Meanwhile, GE Renewable Energy is currently developing the Haliade-X 12 MW, a massive turbine with a capacity of 12 megawatts, a blade length of 107 meters and a height of 260 meters.

    Given their gargantuan proportions, the first step on the way to their final resting place usually involves using a diamond-encrusted industrial saw to cut through the lissome fiberglass to create smaller pieces that can be strapped to a tractor-trailer.

    But the problem does not end there. Wind farms tend to be installed and commissioned in stages, meaning large numbers of blades can simultaneously reach their end-of-life, thus threatening to flood waste processing facilities lacking sufficient storage or specialized equipment to handle them. Even worse, some studies have found that wind turbines are wearing out much sooner than their often stipulated life expectancy of 20-25 years.

    Future Solutions

    If the unfolding situation sounds alarming, consider that the wind power revolution is just getting started.

    The U.S. wind industry commissioned 9,143MW worth of new installations in 2019, the third-highest figure for new wind power capacity installations in the country’s history. According to the latest energy report by the American Wind Energy Association (AWEA), the country’s total installed wind capacity clocked in at 105.6 GW by the end of the year, supplying about 2.5% of the country’s energy needs.

    This helped renewable energy to overtake coal in the nation’s energy mix for the first time ever.

    Source: Energy.gov

    Source: EIA

    But all that could soon look like a dress rehearsal for the burgeoning industry.

    Related: Oil Bulls Return As OPEC+ Reassures Markets

    The IEA has predicted that offshore wind power is set to become a $1 trillion industry by 2040. Meanwhile, the Global Wind Energy Council, an international trade association, estimates that wind power deployments across the globe will clock in at 2,110 GW by 2030–or nearly a fourfold increase–and supply 20% of global electricity. That will translate into 2.4 million new jobs created and lower CO2 emissions by more than 3.3 billion tons.

    It will also mean having to deal with millions of tons more of wind turbine waste.

    Thankfully, industry experts are already hard at work looking for solutions for the growing wind power menace. 

    Whereas three-bladed turbines have become the standard model of clean energy generation, things are unlikely to remain that way for long with engineers hunting for more efficient and cost-effective models. One futuristic design with serious street cred is the bladeless wind turbine. Vortex Bladeless has created prototype bladeless turbines that utilize the gyroscopic motion of wind towers to generate energy. The company says the design could potentially cost 50% less than conventional turbines and withstand wear and tear better.

    Other companies have recognized that burying turbine blades into perpetuity is hardly a viable long-term solution and are developing novel solutions to get rid of decommissioned turbine blades. One such company is Global Fibreglass Solutions, a startup that uses chemical methods such as solvolysis or pyrolysis, where very high temperatures destroy the binder material leaving behind the fibers to be dealt with separately. The resulting material is pressed into pellets and fiberboards that can be used for flooring and walls.

    Global Fibreglass says it can effectively process 99.9% of a standard turbine blade and boasts the capacity to process 6,000 to 7,000 blades a year per plant. But until the construction industry warms up to the idea of using turbine debris as building materials, a handful of municipal and commercial landfills that accept them in Lake Mills, Iowa; Sioux Falls, South Dakota; and Casper can expect to continue having their hands full.

    Meanwhile, giant waste utility Waste Management Inc. is working closely with renewable energy companies to develop an effective solution for windmill blade processing, recycling, and disposal. 

    By Alex Kimani for Oilprice.com

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