Mark K Norbury

Arctaris Impact Provides Key Opportunity Zone Investment in $475 Million Mixed Income Development in Gowanus, Brooklyn   Arctaris has made a $27 million equity investment in 310 and 340 Nevins Street, a $475 million mixed-use/mixed-income project in Brooklyn’s Gowanus neighborhood. The transaction marks Arctaris Impact’s first investment in Brooklyn and will support New York City’s efforts to transform a formerly contaminated industrial area into an economically diverse and vibrant community.   The 668-unit property is being developed by Tavros Holdings and Charney Companies, who are utilizing New York's 421a Program to provide 168 permanently affordable units to residents earning an average of 60% of Area Median Income. In addition to resident amenities and waterfront access the development will offer ~45,000 square feet of retail space, fostering opportunities for women- and minority- owned businesses. The deal team consisted of Nihar S., Jeffrey Nordhaus, Andrew Gibbs, CFA, Kritika Chadha, and Rayan Beyhum.   Arctaris is proud to be part of such a transformative project! Read more here: https://lnkd.in/eJMJ59hb   #ArctarisImpact #CommunityRevitalization #CommunityBuilding #CommunityInvestment #ImpactCapital #OpportunityZones #ImpactInvesting #Gowanus #Brooklyn #NewYork   Jonathan Tower Nihar S. Benjamin Bornstein Anita Graham Jeffrey Nordhaus Alan Halfenger

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Javier Milei: A Maverick in the Global Populist Landscape Javier Milei from Argentina stands out from the typical global populist wave primarily due to his libertarian economic stance. Unlike many populists who favor state intervention, Milei advocates for minimal government and free-market reforms. His anti-establishment rhetoric targets not only political elites but also criticizes long-standing economic policies in Argentina. Milei's direct and provocative communication style and his position as a political outsider further align him with populist traits, yet his focus on economic issues over nationalism or social policies distinguishes him distinctly within the populist spectrum.

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I will be at #ALTSMIA 2024 discussing "The Future of Alternatives" as a closing panelist. We will look at key trends in our industry and share our vision for the path that lies ahead. Markets Group, ALTS, CAIA Association, CFA Society Miami, CFA Society of South Florida, Miami Finance Forum

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This thought-provoking article written by my colleagues explores the growing presence of private equity in the commercial space sector and explores the unique challenges faced by new entrants. It introduces the "Space Integration Ladder," a strategic framework designed to assist industries in assessing their readiness for space ventures and establishing a solid position in this burgeoning market. A vital resource for private equity firms navigating the complexities of the space economy, this article offers a strategic compass for those eager to seize opportunities in the final frontier of commercial enterprise. Additionally, investigate how PE is reshaping capital markets and industries on Earth. Authored by @BrianMiske, @GavinGeminder, and @JoshKirton

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My first software business was in the art world so these types of articles always catch my eye. Riffing off this article, I think the next logical step will be tokenizing art ownership on-chain. Fractionalizing artwork ownership into digital tokens on a blockchain would inject even more liquidity into the art market. Owners could more easily leverage their tokenized art as collateral for loans. And, a broader pool of investors could gain exposure to art-backed debt by buying fractionalized interests. This could attract a massive influx of new capital chasing the attractive yields and portfolio diversification benefits. Worlds collide moment for me 🌎

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5/15/2024, Plainfield, NJ The War Below: Lithium, Copper, and the Global Battle to Power Our Lives by Ernest Scheyder #Ernest_Scheyder https://lnkd.in/eR-5473b Hardcover – January 30, 2024, Atria/One Signal Publishers, 384 pages, $30.00 https://lnkd.in/ei4n7GCP "The War Below: Lithium, Copper, and the Global Battle to Power Our Lives" by Ernest Scheyder is a thought-provoking exploration of the complex challenges surrounding the mining of critical minerals essential for the transition to green energy. Scheyder, a seasoned journalist, takes readers on a captivating journey through the frontlines of this modern-day resource war, unveiling the intricate web of competing interests and the profound consequences at stake. 1. The Delicate Balance At the heart of Scheyder's narrative lies a fundamental dilemma: the urgent need to secure the minerals that power our technological advancements and drive the shift towards sustainability, while simultaneously grappling with the environmental and social costs associated with mining operations. Through vivid storytelling and meticulous research, he illuminates the delicate balance between preserving fragile ecosystems, respecting indigenous rights, and meeting the ever-growing demand for lithium, copper, and other vital resources. 2. Voices from the Frontlines One of the book's greatest strengths lies in Scheyder's ability to give voice to the diverse array of stakeholders embroiled in this conflict. From industry titans and policymakers to conservationists and local communities, each perspective is presented with nuance and empathy, allowing readers to grasp the complexities of the issues at hand. 3. A Cautionary Tale While acknowledging the necessity of mining for the energy transition, Scheyder does not shy away from exposing the harsh realities and potential pitfalls. He skillfully weaves cautionary tales of environmental degradation, human rights violations, and the geopolitical tensions fueled by the race for resource dominance, particularly between the United States and China. 4. A Call for Collective Action Ultimately, "The War Below" serves as a clarion call for collective action and responsible stewardship. Scheyder challenges readers to confront the difficult choices that lie ahead and to seek innovative solutions that balance economic progress with environmental preservation and social justice.His work underscores the urgency of addressing these issues head-on, lest we risk perpetuating a cycle of exploitation and conflict in our pursuit of a sustainable future. In a world grappling with the existential threat of climate change and the insatiable demand for technological advancement, "The War Below" is a timely and essential read. #The_War_Below #Atria #One_Signal_Publishers #PlainfieldNJ Watch Viedo A Discussion with Ernest Scheyder About His New Book, The War Below https://lnkd.in/exM2UUU4

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Bold Leadership in Hedge Fund Operations: Lessons from the New Space Sector 🚀 Inspired by @Dan Goldin’s recent fireside chat at this month’s Space Symposium by Space Foundation, I’m reminded of the crucial role bold leadership plays in hedge fund operations. Goldin’s insights shed light on key aspects of leadership that resonate deeply with our industry. Goldin shared several insightful quotes: • “Bold leadership ain’t about commoditization.” • “We have to have the confidence to cut back on traditional things that hold us back.” • “There are too many people watching too many people.” These quotes highlight the importance of boldness, accountability, and innovation in leadership. They remind us that true leadership requires the courage to embrace change and collaborate effectively. Let’s take inspiration from the new space sector and be the bold leaders who drive change and innovation in hedge fund operations. 🛰️ #HedgeFund #Operations #Innovation #Leadership #NewSpaceSector

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Larry Fink is so good and effective, he reminds me of #CarlIcahn and #GeorgeSoros at the peak of their form and #influence #BlackRock is preparing for a potential U.S. #debtcrisis. They believe that #amidst the crisis, #BTC will attract even more #institutional interest — #Forbes Recently, BlackRock released a report where BTC is considered a unique #diversifier during times of instability across the board Do I believe in this? Absolutely not. #Bitcoin lacks uniqueness, lacks a compelling #narrative and has no value beyond the #belief people place in it (for example, the U.S. #dollar is backed by U.S. #military #power). What's most off-putting is its current #covariance — it has failed to become anything more than a speculative #asset and such assets tend to tumble the fastest in #times of crisis. #BTC #crypto #markets #warning #debt #USA

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🚀 The secondary market is heating up! Don't miss out on the opportunity—secondaries are proving to be a vital asset in portfolios. Click to read our latest article. #privateequity #SecondaryMarket

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While on the Latin America topic, this is an interesting article: How China Capitalized on U.S. Indifference in Latin America from the WSJ. It will be interesting to see what happens if the political landscape changes in the region with a tilt to the right. Think this in the context of recent deglobalization trends, the growth of nearshoring and the U.S wanting to diversify its supply chain away from China. https://lnkd.in/eAR-hsqu

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Moelis is pleased to act as Exclusive Financial Advisor to Fortress Investment Group, a leading, highly diversified global investment manager, on its acquisitions of Gyptech, Infra Pipe Solutions Ltd., and Texas Hydraulics, Inc. #DealAdvisory Press release: https://bit.ly/4eZzYpY Fortress Investment Group Infra Pipe Solutions Ltd. Gyptech Texas Hydraulics, Inc. Press release: https://bit.ly/4eXfVbG Press release: https://bit.ly/3CRsbND

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Compliance tech is powerful. This one seems to me to be even more powerful. The notion of creating compliance agents (and more generally, supporting agents) is one that will become more and more familiar to everybody. Edoardo Ginevra Aurelio Maccario Fabio De Ferrari Luciana Rovelli

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Moelis acts as Exclusive Placement Agent to Archer, electric vertical takeoff and landing (eVTOL) aircraft developer, on its $430 million common stock PIPE in conjunction with the announcement of a strategic partnership with Anduril Industries. #CapitalMarkets Press release: https://bit.ly/4iyWLfk

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Global Financing Summary Key Loan Transactions: 1) WildBrain secured a five-year $415 million Senior Secured Credit Facility from Sagard and Comvest Credit Partners, with interest at SOFR plus 5.5-6% 2) Fattal Hotel Group obtained a £525 million senior loan from Cheyne Capital for a 5-year term 3) A consortium led by Golden Energy and Resources Pte Ltd. signed a $600 million loan with a five-year tenor, paying around 800 basis points over SOFR Loan Structures The loan structures reveal a nuanced approach to risk management and yield optimization in the current market. Shorter tenors, like Tenet Fintech's 24-month repayment term, suggest lenders are prioritizing liquidity and limiting long-term exposure. Elevated interest rates are being offset by equity-linked components such as warrants, indicating a preference for upside participation over pure yield. . Tips For Borrowers 1) Consider flexible drawdown structures to optimize capital efficiency and minimize interest expenses, as demonstrated by Tenet Fintech's credit facility. 2) Align financing milestones with operational achievements to build lender confidence, as seen in New Fortress Energy's FLNG project financing. 3) Explore multi-tranche facilities that combine term loans and revolving credit, as seen in the WildBrain deal, to address both long-term and short-term capital needs For more insights and tips, check out our latest newsletter: https://lnkd.in/ei7-RZ5U

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Blue Owl Capital is acquiring Atalaya Capital Management, an alternative credit manager, for $450 million. This strategic move will enhance Blue Owl's credit and asset-based finance capabilities, adding over $10 billion in assets under management. Atalaya focuses on asset-based credit investments across various sectors and manages over $10 billion in assets. Post-acquisition, most of Atalaya’s 115 employees, including founder Ivan Zinn, will join Blue Owl. Zinn will lead the alternative credit segment under Craig Packer. The deal includes $350 million in Blue Owl equity and $100 million in cash, with an additional potential earnout of up to $350 million in equity, contingent on future revenue targets. This acquisition reflects a growing trend of consolidation in the alternative credit space. Blue Owl's expansion into asset-based finance signifies increasing demand for versatile and specialised credit offerings.

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Spartan Capital Securities, LLC is excited to welcome iAmericas (Industries of the Americas) as a presenting company at the Spartan Capital Investor Conference 2024, taking place on November 4th at The Pierre Hotel in New York City.   Industries of the Americas currently has one of the only latex factories in the United States that makes latex gloves, cold packs and other products; made by American workers in an American factory for the American worker and medical gloves for the healthcare industry. Built in 1988 with the help of Johnson & Johnson to deal with the AIDs pandemic, it sits on 14 acres in Eufaula, Alabama and was purchased by our current leadership in 2018 to be refurbished to manufacture glove products. The factory currently has 4 production lines that can make 720 million single gloves a year. Our industrial glove has been tested in an FDA-listed laboratory and is approved to handle Fentanyl by law enforcement; the current major pandemic. It is a workplace safety glove that saves law enforcement lives'. The manufacturing company is currently preparing for an IPO with Spartan Capital as its banker. The company is also looking to raise an additional $1-5 million dollars to get its factory fully operational to make our products again. Its Swedish-born, and Harvard educated CEO, David Silver, is looking to rebuild manufacturing in rural America, one factory at a time in what he has called the "Rural Advantage.” This factory is the first one. He grew up in a family of factory workers in Sweden and in America. It doesn't matter where you stand politically, everyone wants manufacturing rebuilt in America. Industries of the Americas is leading this initiative and is looking for funds to help expand the manufacturing base in rural America. iAmericas (Industries of the Americas)'s leadership team includes David Silver and many other talented individuals. Conference attendees will be uniquely able to engage directly with company executives, gaining valuable insights into the company’s development. The Spartan Capital Investor Conference brings together an impressive array of public company executives, institutional investors, and thought leaders in the U.S. capital markets. With over 30 companies slated to present, the event promises unparalleled networking opportunities.   To secure your place at this premier event, visit: https://lnkd.in/enQCABXZ   #SpartanCapital #B2iDigital #InvestorConference #CapitalMarkets #InstitutionalInvestors #SpartanCapitalInvestorConference2024

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Moelis is proud to act as Financial Advisor to Peabody Energy, a leading coal producer, providing essential products for the production of affordable, reliable energy and steel, on its acquisition of Anglo American’s steelmaking coal portfolio in a transaction valued at ∼$3.8 billion. #DealAdvisory Press release: https://prn.to/40YXssa

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HFA: New York multi-manager Hurricane Capital is backing MPP&E, a well-staffed quantitative-trading startup led by former Apollo Global investment pro Marton Peter Price. The new operation, based in London, is expected to launch in January with about $25 million from Hurricane and its investors. Like all of Hurricane’s managers, MPP&E will run money exclusively for Hurricane. The move takes Hurricane’s external portfolio manager count to 63, up from 50 in June 2023, when the firm was managing $900 million. It now runs $1.4 billion. While MPP&E is planning to run multiple strategies, it will start out managing a systematic long/short equity product helmed by Price. The market-neutral strategy aims to produce a Sharpe ratio of at least 1.5, supported by a staff that includes researchers in quantitative economics and physics. Price worked at Apollo Global from 2022 to 2024 following stops as an investment associate at Henderson Park Capital and as an investment analyst at Goldman Sachs. As With Intelligence reported on July 22, executives working with Price include senior partner and chief operating officer Elemer Gidofalvy, global-macro senior portfolio manager Paolo Scripelliti and volatility portfolio manager Adam Nagy. Much of MPP&E’s staff – including Price, Gidofalvy and Nagy – have roots in Hungary. Gidofalvy trained as a theoretical physicist. He’s been a senior advisor at investment bank Wood & Co. since 2017, was a partner for growth and buyout investments at Budapest-based PortfoLion Capital until last year and held senior roles at a number of Budapest-based companies, including TritonLife Group and UniCredit Hungary. Until last year, Scripelliti co-headed systematic alternative risk premia strategies and worked as a portfolio manager at GAM Investments. During that time, the risk premia portfolio peaked at more than $2 billion. Nagy, meanwhile, has worked in a post-doctorate capacity in quantum information research. He was a quantitative researcher at WorldQuant from 2017 to 2019 and spent time before that as a quantitative developer at Morgan Stanley. Price, for his part, has one big accomplishment unrelated to investing under his belt. In May 2023, when he was 29 years old, he ascended Mount Everest. The Daily News Hungary at the time reported he was the youngest Hungarian climber ever to reach the summit. Hurricane is led by chief executive and co chief investment officer Chris Napoli, co-CIO Adam Wolfberg and co-presidents Matt DeSalvo and Robert Keith. Napoli and Wolfberg, the firm’s co-founders, previously were executives at EastBay Capital. Hurricane began investing in 2021. See the rest in hedge fund alert!

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