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

Mattson Achieves Key Milestone With Products Installed Across All Top Ten IC Manufacturers

FREMONT, Calif., Oct. 09, 2018 (GLOBE NEWSWIRE) — Mattson Technology, a supplier of wafer fabrication equipment, has achieved a significant milestone in its growth.  Shipments of Mattson’s Dry Strip, Plasma Etch and Rapid Thermal Processing equipment have now become part of volume production fabs for all top ten manufacturers of integrated circuits. The top ten chipmakers are identified based on their capital investment for wafer fab equipment reported for 2017.

“By offering equipment that meet the technical requirements of the most advanced logic and memory devices and operate in high volume production with industry leading cost of ownership, Mattson has been able to win business at all major customers,” stated Dr. Subhash Deshmukh, Mattson’s Chief Business Officer.  “We have been gaining market share in sub-7nm logic, sub-20 nm DRAM as well as >64 layer 3D NAND,” continued Dr. Deshmukh.

“Mattson Technology has a long tradition in product innovation including equipment platform, plasma technology and rapid thermal anneal system designs for the best combination of technical performance and tool productivity,” commented Dr. Michael Yang, Chief Technology Officer. “By working with our customers closely, we are focusing on developing differentiated and customized solutions to address some of the new challenges in advanced semiconductor technology development and mass production.”

“We had set a strategic goal to expand our customer base to include all of the top IC manufacturers and we achieved this significant objective this year,” stated Dr. Allen Lu, President and Chief Executive Officer.  “It validates the technical capabilities and cost effectiveness of our products.  We look forward to continued market share growth of all our products in semiconductor manufacturers around the world.”

About Mattson Technology, Inc.

Mattson Technology, a Delaware Company, headquartered in Fremont, California, designs, manufactures, markets and supports semiconductor wafer processing equipment. Mattson’s dry strip, plasma etch, rapid thermal processing and millisecond annealing equipment are used in high volume manufacturing by leading memory and logic chip makers around the world. New innovations from Mattson in atomic surface engineering™ address the most critical 3D logic and memory manufacturing challenges. Learn more at www.mattson.com.

Mattson Technology Contact
John Arima – Assoc. V.P, Corporate Sales & Marketing
Mattson Technology, Inc.
tel  +1-510-657-5900
email  john.arima@mattson.com

Seaborn’s Seabras-1 Celebrates First Anniversary of RFS

Redefining Quality of Service in the Submarine Cable Industry

BOSTON, Oct. 09, 2018 (GLOBE NEWSWIRE) — Seaborn Networks (“Seaborn”), a leading developer-owner-operator of submarine fiber optic cable systems, is pleased to celebrate the first year anniversary of its US-Brazil Seabras-1 ready-for-service date. Since September 2017, the company has successfully redefined the definition of Quality of Service in the global communications industry.

With its dedicated Engineering and Operations teams driving a focus around subsea cable service and delivery never before seen in the region, Seaborn’s precedent-setting approach to customer service has come across in a number of ways, including:

  • First ultra-low latency subsea route designed from the ground up for international financial markets (and still the fastest path between B3 and Carteret);
  • First submarine cable operator to measure the time from order to circuit activation in hours, not days or months (with mean time from order to activation being less than 24 hours);
  • All-underground backhaul and metro fiber in Brazil from cable landing station to POPs;
  • Uniquely proactive direct customer interface between customers and Seaborn’s proprietary NOC;
  • Proprietary SeaCloud offerings for pay-as-you grow bandwidth models;
  • The most subsea-centric business model in LatAm markets; and
  • Industry-leading system uptime.

“We have been very pleased with the reliability and quality of service we are receiving from Seaborn,” said Chris Lathrop, VP Network Infrastructure at NTT America. “The turn up was great and delivery was faster than any we have seen on other submarine cables.”

“Lots of carriers speak about having a partnership with their customers, but with Seaborn it has really been true. We have been an IP customer of Seaborn and expect that to be a long-standing relationship,” said Anderson Mendes Jacopetti, Chief Technology Officer of Eletronet.

“Seaborn looks to continue our tradition of offering unrivaled customer service and setting new standards in the subsea cable industry,” said David Zimmer, Seaborn’s Chief Sales Officer. “It is very gratifying to know that the system has become so popular with OTTs, carriers, ISPs, HFTs and other international customers.”

About Seaborn Networks
Seaborn Networks is a leading developer-owner-operator of submarine fiber optic cable systems, including Seabras-1 between São Paulo – New York, ARBR between São Paulo – Buenos Aires (RFS 2019) and SABR between Brazil – Cape Town, South Africa (RFS 2020). For more information, please visit www.seabornnetworks.com.

Kate Wilson, Media Manager
Seaborn Networks
E-mail: kate.wilson@seabornnetworks.com

Rapyd’s Holistic Global FinTech Capabilities Surge

Worldwide Growth Boosts Clients’ and Partners’ Access to New Markets

LONDON, Oct. 09, 2018 (GLOBE NEWSWIRE) — Rapyd, a leading fintech platform bringing ubiquity and integration to global digital commerce, today announces new partnerships and client relationships that extend the reach and impact of its worldwide network. By building a global “network of networks” that spans five continents through physical and digital channels, Rapyd connects businesses and platforms to more than 2.3 billion global customers. Its growing network of networks currently links bank transfer, eWallet and local debit schemes for funds-in across 100+ markets and funds-out across 170+ pay-out markets. Rapyd’s platform also supports 65+ holding currencies and a unique global cash network, providing consumers with more than 1.6 million physical access points.

A sampling of Rapyd’s partner and client relationships being announced today includes:

“Our partners and clients leverage the Rapyd platform’s single-integration and single-settlement capability to instantly unlock global marketplaces and access unlimited growth opportunities,” said Rapyd CEO Arik Shtilman. “We aspire to be the single point of connection to provide fintechs and non-fintechs alike a seamless way to access billions of new customers via our fintech-as-a-service platform. This first preview of the breadth and diversity of partnership networks provides a glimpse into what we have built today and will continue to build as we grow.”

Rapyd’s made-to-order financial network and compliance solutions ensure a single integration can unlock the world’s locally-preferred payment methods, including cash, ATM and bank transfers, eWallets, real-time debit, local card schemes, and other local payment methods.

“Our partnership with Rapyd enables us to seamlessly expand our fintech solutions in the U.S. market with the ability to support clients looking to collect or send money across Rapyd’s global network,” explained Scott Stafford, President and CEO of Evolve Bank & Trust.

Rapyd empowers e-commerce merchants, gig platforms, banks, remittance companies, online lenders and other on-demand platforms to break free of transaction infrastructure limitations and accelerate their global growth. The company’s global, scalable wallet-as-a-service and network-as-a-service offerings remove complexity for platform partners and increase their access to global customer bases.

“Rapyd ensures that iRemit is able to bridge the gap between the digital and physical world by providing our customers across Europe, Asia and Australia with a mobile remittance solution and extensive cash and bank transfer load network,” said iRemit’s President Harris Jacildo. “Rapyd extends iRemit’s mobile remittance capability, enabling us to grow into a mobile-first solution practically overnight.”

“Quite simply, Rapyd is a boon for our business,” began Neosurf Chief Commercial Officer Andrea McGeachin. “Their network and capabilities expand the reach of our services into previously inaccessible markets.”

Rapyd’s robust financial technology includes an advanced API, secure sandbox environment, and native software development kit (SDK) that lets developers and product managers instantly establish a global presence.

“Instarem’s foreign exchange and instant bank disbursement capabilities enable Rapyd to provide world-class global currency management and move money faster and at better prices for their merchants and other network partners,” said Instarem CEO Prajit Nanu.

As e-commerce merchants and retailers seek new markets to sell their physical and digital goods and services, Rapyd helps those businesses accept more preferred payment methods from localities around the globe. In addition, Rapyd’s secured disbursements platform facilitates pay outs from lenders, businesses, remittances companies and marketplaces to borrowers and end-users securely. Those borrowers and end-users can access funds via their preferred method, whether that be cash (at 1.6 million ATMs and stores worldwide), directly to bank accounts, e-wallets or debit cards in 170 countries around the world.

Rapyd is also embracing collaboration with established regional experts worldwide. These partnerships, via one smooth integration, enhance clients’ and partners’ access to customers worldwide without sacrificing localized expertise.

“SafetyPay and Rapyd’s partnership reaches across fifteen countries in Latin America and Europe, making it possible for more than 400 million potential users to transact with e-commerce merchants the way they prefer,” explained SafetyPay CEO Gustavo Ruiz.

“We value our partnership with Rapyd’s network,” added Paga CEO Tayo Oviosu. “It serves as a gateway that connects millions of Nigerians to vital but previously inaccessible digital markets across the world.”

“The time has come for a global fintech-as-a-service platform to help merchants, banks, platforms and other partners alike,” added Shtilman. “Thanks to our partners’ trust and clients’ support, we have a significant head start on bringing it to life.”

For more information about Rapyd, visit https://www.rapyd.net.

About Rapyd
Rapyd eliminates the dead ends and dysfunction of global commerce by bringing ubiquity and integration to financial transactions worldwide. Providing access to more than 2.3 billion global customers, Rapyd’s growing network of networks spans five continents through physical and digital channels. Rapyd’s global fintech-as-a-service platform empowers merchants, banks, fintech organizations, on-demand platforms and other partners to accelerate growth and transact with the 96 percent of the world that does not own a credit card.

Media Contact: Ian Toner
itoner@wearecsg.com
(720) 726-5460