I Squared Capital to Sell Cube Hydro to Ontario Power Generation

MIAMI-Wednesday 26 June 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- I Squared Capital, through its ISQ Global Infrastructure Fund I, announced today that it has reached an agreement to sell its hydropower platform, Cube Hydro Partners and its affiliate, Helix Partners (taken together, Cube Hydro), to Ontario Power Generation (OPG) through its U.S. hydroelectric platform. Cube Hydro owns 385 megawatts of hydro capacity on ten river systems in five states, with 19 small to mid-sized, run-of-the-river and peaking hydro plants.

“This is the third portfolio company realization in the last twelve months based on the I Squared Capital platform approach, with a total of over $2.8 billion in realized enterprise value,” said Sadek Wahba, Chairman and Managing Partner of I Squared Capital.

The other two platforms developed and recently sold by I Squared Capital include Lincoln Clean Energy (a leading onshore wind developer in the U.S. with 800 megawatts) to Ørsted, and Amplus Solar (the preeminent provider of rooftop solar systems for the Indian commercial and industrial market with over 344 megawatts) to Petronas.

“With the sale of Cube Hydro, I Squared Capital is at the forefront of infrastructure platform building and we look to develop further platforms across different sectors and regions,” added Sadek Wahba.

The transaction is expected to close in the coming months following standard regulatory approvals.

Centerview Partners acted as financial advisor and Sidley Austin LLP, Troutman Sanders LLP, and Davis Polk & Wardwell LLP served as legal counsel to I Squared Capital on this transaction.

About Cube Hydro Partners

Cube Hydro buys, develops, and modernizes hydropower projects in North America. Cube Hydro and its affiliates own and operate 19 hydropower plants on ten rivers in five states with a combined capacity of 385 megawatts, generating 1.5 million megawatt-hours annually, or enough electricity to power approximately 147,000 homes with renewable energy. www.cubehydropartners.com

About Ontario Power Generation

Ontario Power Generation (OPG) produces almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day. It is committed to ensuring energy production is reliable, safe and environmentally sustainable for Ontarians today and for the future. Further information about Ontario Power Generation can be found at www.opg.com.

About I Squared Capital                                                                           

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, Houston, London, Miami, New Delhi, New York and Singapore.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005951/en/

Contacts

Andreas Moon, Managing Director and Head of Investor Relations
+1 (786) 693-5799 | andreas.moon@isquaredcapital.com


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AerSale Acquires Qwest Air Parts, Inc. to Expand Airframe Parts Sales

CORAL GABLES, Fla. -Wednesday 26 June 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- AerSale®, a global supplier of aircraft, engines, used serviceable material (USM), and maintenance, repair, and overhaul (MRO) services, announced today it has acquired aircraft parts distributor Qwest Air Parts, Inc. Based in Memphis, Tennessee, Qwest is a recognized leader in aircraft dismantlement and the refurbishment and resale of USM. Qwest has disassembled over 200 aircraft, offers 24/7 AOG service, and operates a teardown facility in Crestview, Florida. Gary Jones, Qwest’s founder, President and CEO, will continue to lead Qwest, which will operate as a stand-alone independent subsidiary of AerSale. The acquisition of Qwest will add scale and reach to AerSale’s already significant airframe USM offerings. Furthermore, Qwest’s recently certified repair station, Q2 Aviation LLC, will supplement AerSale’s growing MRO platform.

“As a proven leader in aircraft parts distribution, Qwest is an optimal partner to help further expand our large inventory of high-demand USM, which we cost-efficiently source through fleet acquisitions and part-out of our retiring lease portfolio assets,” said Nicolas Finazzo, Executive Chairman of AerSale. “Our customers can now look forward to even more expertise and added value from our integrated aircraft, engine, and component solutions.”

AerSale is a premier provider of one-stop services offering aircraft and engine leasing, uncompromising MRO services, and USM supply solutions to the world’s most demanding commercial and governmental operators. The company provides flight equipment operators and MROs significant cost savings on the purchase of USM in lieu of expensive OEM new replacement parts. The acquisition of Qwest will include the addition of 38 skilled professionals and technicians to the greater AerSale family, along with a 160,000-square-foot headquarters and warehouse facility in Memphis, and a 20,000-square-foot teardown facility in Florida. Qwest holds all relevant quality certifications, including ASA-100 and U.S. Department of Transportation Hazardous Material certification.

About AerSale

A global aviation leader celebrating its 10-year anniversary, AerSale specializes in the sale, lease, and exchange of used aircraft, engines, and components, in addition to providing a broad range of maintenance, repair, and overhaul (MRO) and engineering services for commercial aircraft and components. AerSale also offers asset management services to owners of end-of-life aircraft and engine portfolios. Headquartered in Coral Gables, Florida, AerSale maintains offices and operations in the United States, Europe, and Asia.

For more information, visit our website at www.aersale.com or contact AerSale Media Relations by calling (305) 764-3200 or via e-mail at media.relations@aersale.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005926/en/

Contacts
Lyndelle Nieuwkerk
Telephone: (305) 764-3200
Email: media.relations@aersale.com


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Tech Giant Alibaba Cloud Partners With UAE’s Group 42 to Host First MEA Internet Summit

New event aims to develop local tech sector, leveraging industry expertise to help companies thrive    

ABU DHABI, United Arab Emirates -Wednesday 26 June 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Alibaba Cloud, the data intelligence backbone of Alibaba Group, today held its inaugural Middle East and Africa (MEA) Internet Summit in partnership with UAE-based Artificial Intelligence (AI) and Cloud Computing leader Group 42.

Drawing the participation of tech experts and executives from the region’s top 100 internet companies, the summit took place during the Ghyma Conference 2019. Among the distinguished guests were HE Saif Mohammed Al Hajri, Chairman of the Department of Economic Development Abu Dhabi, His Excellency Mohammed Gheyath, Executive Director Information Security Operations, Abu Dhabi Digital Authority, Ibrahim Ajami, Head of Mubadala Ventures, Peng Xiao, CEO of Group 42, and Selina Yuan, President of Alibaba Cloud Intelligence International.

Panelists and speakers covered an extensive range of topics over 10 keynote speeches. These included maximising the potential of cloud and AI, leveraging the internet to thrive in the new digital age, taking e-commerce to the next stage of growth, the startup and financial technology (FinTech) landscapes in the Middle East and Africa, and the online entertainment revolution in the region.

The MEA Internet Summit builds on Alibaba’s existing partnerships with over 30 local vendors across a wide variety of tech segments. In addition, the company invests in the development of UAE youth through its collaboration with Khalifa University that identifies opportunities in areas such as data analytics, the Internet of Things (IoT), robotics, and cloud computing.

Selina Yuan, President of Alibaba Cloud Intelligence International said: “This is an exciting time for internet companies across the globe, and lately we have seen a surge in the number of innovations spanning diverse domains – from retail to fintech and entertainment. At Alibaba Cloud, our mission is to make it easy to do business anywhere. We are proud of our role in helping enterprises expanding into some of the fastest-growing vertical markets through our proven technology capabilities, such as AI and machine learning.”

Peng Xiao, CEO of Group 42 said: “As a leader in Artificial Intelligence and Cloud Computing in the UAE, we are proud to partner with Alibaba Cloud to help Governments and key industries thrive in the age of digital transformation. Our first MEA Internet Summit aims to provide a platform for industry executives, developers, scientists, investors, and pioneers from top internet companies in the region to exchange experiences and ideas on adopting emerging technologies to drive growth and social progress, both locally and internationally.”

HE Saif Mohammed Al Hajri, Chairman of the Department of Economic Development Abu Dhabi in his speech during the conference: "Our economic policy and strategic plans not only see innovation as a technological aspect, but also believe in the importance of building people, their ability to innovate, and the transfer and application of knowledge to embody the principles of sustainability," said Saif Al Hajri.

He added that this policy was inspired by the vision of our wise government and translated on the ground by opening up to the world and learning about the experiences of countries and international companies. This will enable our national cadres to lead the future of our national economy to achieve the well-being of society.

Established in 2009, Alibaba Cloud offers a comprehensive suite of cloud computing services to companies worldwide, including merchants doing business on Alibaba Group marketplaces, startups, corporations, and public sector entities. Alibaba Cloud has been a leading provider of cloud services to private companies and government institutions in the UAE and the wider Middle East region since 2015.

About Alibaba Cloud

Established in 2009, Alibaba Cloud (www.alibabacloud.com), the data intelligence backbone of Alibaba Group, is among the world’s top three infrastructure as a service (IaaS) providers, according to Gartner. It is also the largest provider of public cloud services in China, according to International Data Corporation (IDC). The company offers a comprehensive suite of cloud computing services to businesses worldwide, including merchants doing business on Alibaba Group marketplaces, startups, corporations and public services. Alibaba Cloud is the official Cloud Services Partner of the International Olympic Committee.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190626005321/en/

Contacts

Luica Mak
Email: luica.mak@alibaba-inc.com
Phone: +44-7905471332


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Jumeirah Village Circle offers luxury housing at affordable rates

Located at the heart of Dubai, the development has something for every taste



Dubai, United Arab Emirates-Wednesday 26 June 2019 [ AETOS Wire ]

Jumeirah Village Circler (JVC) boasts of several affordable luxurious gated community houses, with state-of-the-art facilities promising residents and potential home seekers a living experience like no other.

The family-centric housing community includes beautifully outlined residential spaces equipped with luxurious amenities providing residents with the opportunity to indulge in several activities aimed at giving them a healthy lifestyle in a safe and fun surrounding.

Kalpesh Kinariwala, Founder and Chairman of Pantheon Group said, “We at Pantheon Group wish to provide an unforgettable living experience for current and potential home seekers. Our properties are designed keeping in mind the requirements of our customers, thus making each unique from the other.”

Pantheon Development which is part of Pantheon Group currently has two projects in JVC. The Pantheon Boulevard, a 5-storey development featuring a total of 157 apartments and 5 retail outlets in a great setting. The second project is the Pantheon Elysee, an affordable luxury development project consisting of 268 residential units and retail outlets, expected to be ready by the fourth quarter next year.

Its strategic location is one of the key factors attracting individuals to invest in JVC. Situated on Sheikh Mohammed Bin Zayed Road between Hessa Street and Al Khail Road makes it relatively accessible for many. Properties in JVC are known to offer approximately 15-20 per cent more space and are relatively more affordable than other apartment homes in the region. It is estimated that by the end of the year approximately 3,408 homes will be made available for occupancy.

Known to provide a wholesome living experience to all its residents, JVC is increasing the curiosity of potential home buyers and it shouldn’t be long until it will be on the list of the most viable investment options and places to reside in the city.

Contacts
SAHARA Communications

Wafa Ahmad, Senior Consultant, +97143298996, +971569474164

w.ahmad@saharapr.com / www.saharagcc.com




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Patient Safety Movement Foundation Announces First Curriculum Commitments

Organizations commit to implementing patient safety curriculum on PSMF website





IRVINE, Calif.-Wednesday 26 June 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- To advance the education of healthcare professionals and reduce the number of preventable deaths, the Patient Safety Movement Foundation (PSMF) has developed core curriculum to teach patient safety throughout the entire education process, from freshman year through residency. The continued education and development of healthcare students and professionals improves the quality of patient care and eliminates preventable medical error.

By committing to the Patient Safety Curriculum (Actionable Patient Safety Solutions #17), participants commit to:

Improve knowledge of the science, as well as the human side, of patient safety
Gain skills required to apply safe care practices to reduce medical error
Value the role of patients and families as members of the healthcare team
Demonstrate effective personal and team behaviors that support a just culture and reliable health system performance
Advance the goal of eliminating preventable patient deaths
“Helping healthcare students and professionals understand how to integrate patient safety into everything they do is critical to creating a culture and infrastructure that reduces preventable harm to patients,” said David Mayer, Patient Safety Movement Foundation CEO. “Our curriculum does that and provides them with behaviors and tools they need to prevent medical errors.”

Four organizations have already made their commitments to this curriculum: Chapman University School of Pharmacy, Universidad Autónoma de México (UNAM) School of Medicine, San Diego State University (SDSU) School of Nursing and Geisinger Commonwealth School of Medicine.

Chapman University will introduce the full range of patient safety concepts to pharmacy students. Patient safety curriculum will begin during the first year of school with the goal of creating entry-level practitioners with a broad knowledge base and skills that can be used to improve patient safety. Chapman’s five-year strategic plan calls for specific activity and investment in patient safety research, education and practice.

UNAM will use this curriculum to strengthen their role in clinical care through patient safety management and to fully integrate it into the teaching process. Additionally, UNAM will continue to use simulation as a critical component of their students’ preparation for clinical practice, both at the undergraduate and postgraduate levels.

SDSU will incorporate the Patient Safety Curriculum into their Quality and Safety Education for Nurses (QSEN) program as updates to curriculum content during the 2019-2021 academic years. Basic concepts will be integrated in Professional Formation courses with more advanced concepts included in teaching nursing skills, advanced care and critical care simulations.

Geisinger Commonwealth identified this curriculum as an opportunity to emphasize their patient-centered communication, patient safety and quality improvement. Geisinger’s commitment will help ensure that patient safety continues to be an emphasis of current curricular content. Simulations and clinical settings will be used to develop patient safety skills.

“We want to not only thank these forward thinking medical, pharmacy and nursing schools in hardwiring patient safety by educating their students through their entire education process, but the Patient Safety Movement Foundation’s steering committee that took on the challenging task of creating the patient safety curriculum for all professional healthcare schools to implement,” stated Joe Kiani, Founder and Chairman of the Patient Safety Movement Foundation. “This tool is now free and available for every university to implement; we hope they all will so that in a decade patient safety is indeed hardwired throughout the entire profession.”

For more information on the Patient Safety Movement Foundation or to make your commitment, go to patientsafetymovement.org.

About Patient Safety Movement

More than 200,000 people die every year in U.S. hospitals and 4.8 million worldwide in ways that could have been prevented. The Patient Safety Movement Foundation is a global non-profit which creates free tools for patients and hospitals. The Patient Safety Movement Foundation was established through the support of the Masimo Foundation for Ethics, Innovation, and Competition in Healthcare to reduce that number of preventable deaths to ZERO. Improving patient safety will require a collaborative effort from all stakeholders, including patients, healthcare providers, medical technology companies, government, employers, and private payers. The Patient Safety Movement Foundation works with all stakeholders to address the problems with actionable solutions for patient safety. The Foundation also convenes the World Patient Safety, Science & Technology Summit. The Summit brings together some of the world’s best minds for thought-provoking discussions and new ideas to challenge the status quo. By presenting specific, high-impact solutions to meet patient safety challenges, called Actionable Patient Safety Solutions, encouraging medical technology companies to share the data their products are purchased for, and asking hospitals to make commitments to implement Actionable Patient Safety Solutions, the Patient Safety Movement Foundation is working toward ZERO preventable deaths. Visit patientsafetymovement.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005293/en/

Contacts
David Kodama
Cook + Schmid
dkodama@cookandschmid.com
619-814-2370 x17


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SpeeDx announce a collaborative agreement with GSK to supply tests and technology

SpeeDx tests and technology will be used to support GSK antibiotic clinical trials



SYDNEY -Tuesday 25 June 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- SpeeDx Pty. Ltd., a developer of innovative molecular diagnostic solutions, has signed a collaborative agreement with GSK, to provide a combination of existing tests and custom test development to support certain GSK antibiotic clinical trials and new product development.

“We welcome this extension of the utility and application of our tests and technology,” said Colin Denver, SpeeDx CEO. “SpeeDx has a demonstrated commitment to improve patient care, and our tests currently used in clinical practice are supporting Resistance Guided Therapy, positively impacting cure rates and helping to minimise the spread of antimicrobial resistant infections.”

About SpeeDx

Founded in 2009, SpeeDx is an Australian-based private company with offices in Austin and London, and distributors across Europe. SpeeDx specializes in molecular diagnostic solutions that go beyond simple detection to offer comprehensive information for improved patient management. Innovative real-time polymerase chain reaction (qPCR) technology has driven market-leading multiplex detection and priming strategies. Product portfolios focus on multiplex diagnostics for sexually transmitted infection (STI), antibiotic resistance markers, and respiratory disease. For more information about SpeeDx please see: https://plexpcr.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20190624005302/en/

Contacts

Australia, New Zealand and Europe
Madeline O’Donoghue - SpeeDx
+61 406 582 808

United States
Rick Roose - RCI Healthcare Public Relations
+1 415 202 4445

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Beyontec Partners with AJMS to Develop Comprehensive IFRS17 Solution for MEA Region

Dubai, United Arab Emirates-Tuesday 25 June 2019 [ AETOS Wire ]

Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries.

Introduced as the harmonised global accounting standard for insurance contracts including reinsurance, International Financial Reporting Standard (IFRS) 17 aims to provide consistency across all aspects of accounting in insurance. Issued by the International Accounting Standards Board (IASB), the new standard will come into effect from 1st January 2021, with an option to adopt early.

Speaking on the occasion, Mr. Vivek Sethia, director and co-founder of Beyontec DMCC said, “At present, insurers follow many divergent accounting practices that make it difficult for the comparison of financial statements. With IFRS 17, it will result in improved comparability of financial statements and will increase the overall quality of the financial disclosures by insurers.” 

The new reporting standard under IFRS 17 will undoubtedly be a significant change for accounting requirements. However, it poses tremendous challenges for insurance companies in grasping the operational impacts on data, systems and processes. “We are delighted to partner with AJMS on developing the IFRS 17 specific software product as we see great synergies in our understanding of the insurance industry, and the combined ability to proactively consult and transition insurers into the new standards,” added Vivek.

AJMS with its extensive experience in effectively assisting companies to monitor and manage risk & compliance with regulatory requirements, will drive the product blueprinting for the new IFRS 17 solution being developed by Beyontec. “AJMS looks forward to working with Beyontec on the new IFRS 17 solution. Our insurance experience, IFRS consulting and implementation knowledge complement their deep domain knowledge and skill sets that are needed to develop a comprehensive solution on time,” concluded Mr. Abhishek Jajoo, Partner & CEO of AJMS.

Once developed, this new product can be implemented across General and Life Insurance companies and will have IFRS 17 capabilities across finance and actuarial systems. It will connect data, systems and process environment between finance and actuarial with the ability to meet future accounting challenges.

IFRS 17 compliance is a transformational shift for the entire insurance industry. Insurers must carefully evaluate the considerations and options for IFRS 17 compliance and map the transition benefits to their finance strategy and business objectives. The combined capabilities of Beyontec and AJMS Consulting fit into this sweet spot perfectly as a one-stop shop for everything related to IFRS 17 compliance and its implementation.

About Beyontec Solutions

Beyontec Solutions is a global insurance solution provider, addressing all aspects of insurance business including general insurance, Takaful, life insurance, medical insurance and insurance broking. The Beyontec Suite is a workflow driven solution designed to provide cost-effective solutions by focusing on customers’ requirements and business challenges. The diverse insurance experience and knowledge has enabled Beyontec to create solutions that incorporate the world’s best insurance practices. Supported by experienced insurance professionals and support centres equipped with secure infrastructure, they provide the best service and support to global insurance companies.

Website: www.beyontec.com

For media inquiries, contact sales@beyontec.com

About AJMS International management Consultancies (AJMS)

AJMS with their team of experts, bring in their expertise and years of combined professional experience in Insurance Industry from UAE, KSA, Bahrain, India and Oman. It strives to be the first-choice provider of robust, premium-quality, factual consulting experience and business sustenance-to-growth potential for customers. AJMS helps insurers to develop and execute strategies that increase profitability and efficiency, compliance with regulatory requirements including IFRS, Insurance Authority, risk management and gain competitive advantage from advanced analytics.

Website: https://www.ajmsglobal.com/

For media inquiries, contact info@ajmsglobal.com

Contacts

Beyontec       

Dimple Fernandez, +97145148451

sales@beyontec.com | www.beyontec.com


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