Daily Archives: October 9, 2018

Cross Ocean Partners Closes its First US Special Situations Fund at $605 Million; Total Capital Commitments Across the Strategy Grow to $885 Million

GREENWICH, Conn., Oct. 09, 2018 (GLOBE NEWSWIRE) — Cross Ocean Partners, a global asset management firm, announced the successful final closing of Cross Ocean USSS Fund I (A), its US Special Situations (“USSS”) credit fund, on June 29, 2018.  The fund closed with total aggregate committed capital of c. $605 million, which brings aggregate capital commitments across the firm’s USSS strategy to c. $885 million.

Commitments to the strategy came from a global investor base, represented by investors from North America, the Middle East and Australia, including public and private pension plans, insurance companies, family offices and a sovereign wealth fund, amongst others.  The USSS strategy focuses on investments in stressed and distressed corporate debt, primarily senior and asset backed instruments that offer more downside protection.  As of June 30, 2018, Cross Ocean USSS Fund I (A) has drawn c. 39% of its committed capital.

 “We are delighted with the success of our first time fund in the US,” said Graham Goldsmith, Chief Executive Officer and co-Chief Investment Officer of Cross Ocean Partners.  “The firm is very pleased and grateful to have the support of existing Cross Ocean limited partners and develop relationships with new ones.  Our deployment rate has been steady, and we believe we have a strong pipeline of opportunities ahead.”

About Cross Ocean Partners:

Cross Ocean Partners is a global asset management firm focused on credit investments in a broad range of asset classes, including corporate loans and bonds, hard assets, commercial real estate, liquidations and structured credit. As of October 1, 2018, the Firm has 47 employees globally, with offices located in Greenwich, Connecticut; London, United Kingdom; and Dublin, Ireland.  Cross Ocean Partners advises assets of $3.2 billion globally across its affiliated asset management entities, and its funds and accounts have raised approximately $4.4 billion of aggregate committed capital to date. The firm also has European and Aviation Special Situations strategies.

For further details and inquiries, please contact:

Investor Relations
Carina Murphy
Tel (USA): + 1 203 340 7850

Cross Ocean Partners Closes its First Aviation Fund at $438 Million

GREENWICH, Conn., Oct. 09, 2018 (GLOBE NEWSWIRE) — Cross Ocean Partners, a global asset management firm, announced the successful final closing of Cross Ocean Aviation Fund I on August 20, 2018, with total aggregate committed capital of c. $438 million.

The Aviation Fund attracted a diverse investor base which includes private pension plans, insurance companies, endowments, charitable foundations and family offices, amongst others. The Aviation Fund focuses on investments in late life commercial aircraft and engines, globally with an emphasis on North America and Europe. As of September 30, 2018, the Aviation Fund has drawn c. 22% of its committed capital, and it has funded a series of acquisitions of commercial aircraft and engines.

“We are delighted with the success of the fundraise for our first aviation fund,” said Graham Goldsmith, Chief Executive Officer and co-Chief Investment Officer of Cross Ocean Partners. “The firm is very pleased and grateful to have the support of existing Cross Ocean limited partners and develop relationships with new ones as it continues to broaden its investor base. Finally, the team is excited is about the opportunity set in the late life aviation market.”

About Cross Ocean Partners:

Cross Ocean Partners is a global asset management firm focused on credit investments in a broad range of asset classes, including corporate loans and bonds, hard assets, commercial real estate, liquidations and structured credit. As of October 1, 2018, the Firm has 47 employees globally, with offices located in Greenwich, Connecticut; London, United Kingdom; and Dublin, Ireland. Cross Ocean Partners advises assets of $3.2 billion globally across its affiliated asset management entities, and its funds and accounts have raised approximately $4.4 billion of aggregate committed capital to date. The firm also has European and US Special Situations strategies. Cross Ocean Aviation Management Limited is the Investment Manager for the fund.

For further details and inquiries, please contact:

Investor Relations
Carina Murphy
Tel (USA): + 1 203 340 7850

8 training schools for police established in KP to train them on scientific lines

Khyber Pakhtunkhwa government has established eight training schools across the province to train police force on scientific lines.

Talking to Radio Pakistan Peshawar on Tuesday, a spokesman of Police Department said these schools have been established in Peshawar, Kohat, Nowshera, Mardan and Abbottabad.

So far about twenty-one thousand policemen have been trained in investigation, riot management, handling of explosives, information technology and traffic management.

Source: Radio Pakistan

Anti-encroachment committees have been set up in all districts of Punjab: CM

On the special directives of Punjab Chief Minister Sardar Usman Buzdar, anti-encroachment committees have been set up in all districts of Punjab.

According to a Spokesman of the Chief Minister Office, the deputy commissioner of every district will be head of anti-encroachment committees.

These committees will be responsible for planning and monitoring operations against land grabbers and encroachments on daily basis.

The members of the national and provincial assemblies, civil society and respectables of the concerned district will also be included in these committees.

Meanwhile, in a statement, the Chief Minister has said that crackdown against the land-grabbers, illegal occupants and those encroaching on state properties will continue with any discrimination.

He said that street vendors, labourers and residents of slum areas will not be disturbed during the operation.

Source: Radio Pakistan

Senior Punjab Minister, Netherlands envoy discuss matters of mutual interest

Netherlands Ambassador in Pakistan Ardi Stoios-Braken met with Senior Punjab Minister Abdul Aleem Khan in Lahore.

During the meeting, both discussed matters of mutual interest.

Speaking on the occasion, Abdul Aleem Khan said that PTI Government is moving forward with Prime Minister Imran Khan’s new vision.

He said that Punjab Government will provide every possible protection to investments in Punjab. He said that we will work with practical slogan of Trade not Aid.

He said that present government will not follow the policies of past government.

During the meeting, the Nether lands Ambassador offered cooperation to Punjab in fields of Agriculture, Livestock, Dairy Development among others.

Source: Radio Pakistan