Tag Archives: Energy

Business-focused Polsinelli adds M&A attorney to Century City firm

Century City law firm Polsinelli is boosting it Mergers and Acquisition arm with hot shot attorney Marc Leh joining the local office to add weight to the expanding company.

A member of the California Bar since 1986, Leh earned his law degree from UCLA Gould School of Law in 1986, and his B.A. in Economics from the University of Colorado-Boulder in 1982.

For the past 25 years, Leh has been involved in more than 250 merger and acquisition (M&A) transactions ranging in size from $10 million to more than $1 billion, according to Polsinelli.

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Latin America Weakness in 2015? Energy & M&A Big Factors

With Latin America equities likely to underperform other emerging markets in 2015 for the sixth year in a row, favor Mexico and expect weakness in Brazil, Morgan Stanley says.

While Mexico and Brazil valuations look rich, Morgan Stanley is overweight Mexico and underweight Brazil as part of its outlook for Latin America investing in 2015. Big factors in the outlook for Latin America are global and out of its control: the direction of oil prices, the effectiveness of Japan’s economic policies, and reform in China, writes Jorge Kuri, director of Latin America equity research atMorgan Stanley.

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Deutsche Bank and U.S. Private Equity Group Riverstone: $0.5-1.0 Billion Commodities Venture

Investment in Energy, Coal, Metals, and Trade Commodities

LONDON, May 21 (Reuters) – Former top commodities traders from Deutsche Bank are in talks with U.S. private equity group Riverstone to set up a $0.5-1.0 billion venture that will both invest and trade in commodities.

The venture, which will put money into assets ranging from energy producers to pipelines and refineries, is a rare foray by a private equity firm into commodities at a time when banks are curbing exposure due to tighter regulations and stagnant prices.

Riverstone, an energy and power-focused private investment firm with around $24 billion of capital raised across seven investment funds, will hold a controlling stake in the venture, TrailStone, to be launched later this year.

David Silbert, who led Deutsche’s commodities trading team from 2007 before leaving last year as the bank reduced exposure to commodities, will also be investing in TrailStone together with his partners, Silbert told Reuters.

“TrailStone will be an asset-backed commodities merchant. We will buy refineries and production assets, create joint ventures with people who have assets,” Silbert said.

“There are loads of upstream producers who need capital. We will be telling them – pay us back in production not cash.”

Riverstone declined to comment on the investment.

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Commodities Drag on Market

As reported by Chuck Mikolajczak of Reuters, U.S. stocks fell on Friday, interrupting the Dow’s eight-session winning streak, as the dollar’s climb hurt oil prices and dragged on enerWeak Datagy stocks.

The euro fell to more than a two-week low against the greenback on revived worries about Greece’s debt problems. Dollar-denominated commodities such as oil and gold fell as a stronger dollar makes them more expensive for holders of other currencies.

Regarding Greece and its huge debt burden, the European Union’s monetary affairs chief urged the bloc’s leaders to agree on a standby aid package for Greece next week. But investors fear German reluctance could hinder the effort.

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Navigating Uncharted Territories After S&P’s U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating at Public Finance Leaders Forum 2011

Golden Networking is organizing Public Finance Leaders Forum 2011, “Navigating Uncharted Territories After S&P’s U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating” (http://www.PublicFinanceLeadersForum.com), September 9, New York City,conference that will provide attendees with the first analysis of the impact of the U.S. credit rating downgrade by S&P. Recognized investors, government officials and executives from the rating agencies will debate the short and medium-term outlook for public issues in the U.S.

Public Finance Leaders Forum 2011, "Navigating Uncharted Territories After S&P's U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating"

Public Finance Leaders Forum 2011

Standard & Poor’s (S&P) downgraded the U.S. debt rating on August 5, saying that political gridlock had prevented the country from reaching a plausible solution to getting its financial house in order. It remarked that the agreement to reduce the nation’s debt by at least $2.1 trillion over the next 10 years “fell well short” of comprehensive reforms. Moody’s has a negative outlook on the U.S. but has indicated it is in no rush to cut its rating. Fitch Ratings has a similar outlook. If the U.S. is no longer AAA, can any municipal credit still be AAA?
Topics that will be covered by Golden Networking at Public Finance Leaders Forum 2011, sponsored by Modern Finance Report (http://www.modernfinancereport.com), include:

  • Obtaining Financing under Increased Uncertainty in the U.S. Municipal Markets
  • The Investors’ Perspective: Rethinking Public Issues in a Brave New AA+ World
  • The Government’s Perspective: Striking a Balance Between Short and Long-Term Needs
  • The Ratings Agencies’ Perspective: Judging Fiscal Policy through the Political Process

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