Daily Archives: June 25, 2020


NEW YORK, NY, June 25, 2020 (GLOBE NEWSWIRE) — Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor, announced today that its credit fund, GIP Spectrum Fund, L.P., along with its affiliates and co-investors (together “GIP Spectrum”, “Spectrum” or the “Fund”), has closed on the purchase of $325 million of an aggregate $400 million senior secured bullet notes (the “Notes”) in Whistler Pipeline, LLC (“Whistler Pipeline” or the “Project”). Whistler Pipeline is a greenfield, approximately 500‐mile, 2.0 Bcf/d natural gas pipeline that will connect the Permian Basin to the Agua Dulce hub near Corpus Christi, Texas. The Project is underpinned by long term, contractual minimum volume agreements from investment grade customers and represents critical natural gas takeaway infrastructure from the prolific Permian Basin. The Project will provide Permian producers direct access to the South Texas markets, as well as liquefied natural gas (“LNG”) and Mexican export markets.

Proceeds from the Notes, together with a senior secured bank term loan, senior secured amortizing note and common equity from Whistler Pipeline’s consortium of owners, consisting of MPLX LP (NYSE: MPLX), WhiteWater Midstream (“WhiteWater”) and a joint venture between Stonepeak Infrastructure Partners and West Texas Gas, will fund construction of the Project. The Whistler Pipeline is expected to be in-service in the third quarter of 2021. The Project was developed by WhiteWater, an Austin-based independent midstream company that provides transportation services to domestic oil and gas plays. Founded in 2016, WhiteWater currently manages $3 billion in gas transmission assets originating in the Permian Basin.

The Whistler Pipeline transaction represents GIP Spectrum’s inaugural investment. The Spectrum strategy provides customized credit financings for infrastructure issuers in GIP’s core sectors of midstream energy, power, renewables and transport, while leveraging GIP’s significant operating expertise. “We are very pleased to have entered into this transaction with Whistler Pipeline and its sponsors, MPLX, WhiteWater, Stonepeak and WTG,” said Jennifer Powers, GIP Partner and Chair of GIP Credit. “The Project will provide a critical connection that will alleviate the constraints for takeaway capacity out of the Permian Basin.  This investment exemplifies GIP Spectrum’s ability to provide unique credit solutions in size for high quality, essential infrastructure projects, and move quickly to efficiently conduct due diligence even during these unprecedented market conditions.”

“WhiteWater remains incredibly excited about Whistler. Closing the debt financing in the current market environment is a testament to the quality of the project and the efforts of all our partners.  We are excited to be the first investment in the GIP Spectrum Fund and appreciate the creativity and support of the GIP Credit team to help make this financing a success” said Scott Simmons, Senior Vice President and Chief Financial Officer of WhiteWater Midstream.

About Global Infrastructure Partners

Global Infrastructure Partners (“GIP”) is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries. GIP’s teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP Spectrum is part of GIP’s credit platform (“GIP Credit”) which provides financing solutions and makes debt and non-common equity investments in infrastructure assets and companies. For more information, visit www.global-infra.com.

Media Inquiries Team
Global Infrastructure Partners
+1 646 282 1545

Graduate Management Admission Council Announces New Incoming Chairperson of the Board and Four New Board Members

New members from Africa and India reflect the increasingly global nature of graduate management education

RESTON, Va., June 25, 2020 (GLOBE NEWSWIRE) — The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today announced a new board chairperson and the addition of four new members to its board of directors. The terms will begin on July 1, 2020.

Martin Boehm, Dean and Professor of Marketing at IE Business School has served on the GMAC board since 2017 and will represent GMAC as its new board chairperson for two consecutive years, replacing William Boulding who concludes his two-year term on June 30. Professor Boehm has held several roles within IE Business School including Dean of Programs and Associate Dean of Master in Management Programs. He teaches across the School’s Master in Management, MBA, Executive MBA, and PhD programs. Prof. Boehm’s research provides managerial implications on how to build profitable and long-lasting customer relationships. His primary concern is to quantify the impact of various customer management activities on a customer’s lifetime value.

“I am excited to build upon my experience with GMAC in this new role as chairperson,” said Boehm. “The business school value proposition is strong, and that doesn’t change in a COVID-19 environment. In fact, it’s essential, now more than ever, that we help today’s students prepare for the unforeseen challenges of tomorrow, through flexible and adaptive learning in and out of the classroom. The industry has an impactful story to tell across a number of different indicators and I’m excited to help lead that discussion.”

The new board members include: Ranjan Banerjee, Dean, Professor of Marketing, S.P. Jain Institute of Management and Research; Soojin Kwon, Managing Director, Full-Time MBA Admissions and Program, Stephen M. Ross School of Business, University of Michigan; Enase Okonedo, Dean, Lagos Business School, Pan-Atlantic University; and Jay Nibbe, EY Global Vice Chair – Markets as an independent director.

“We’re excited to engage and collaborate with some of the brightest minds in Graduate Management Education from regions across the world,” said Sangeet Chowfla, president and CEO of GMAC.  “Enhancing diversity and global perspective on our board better enables GMAC to bring solutions and ideas to the marketplace that help address the unique challenges and opportunities associated with our industry.”

New GMAC Board Members

Dr. Ranjan Banerjee (Dean Director), Dean, Professor of Marketing, S. P. Jain Institute of Management and Research

Dr. Ranjan Banerjee holds an engineering degree from IIT Bombay, an MBA from IIM Calcutta and a PhD in Marketing from the Carlson School, University of Minnesota. He is an internationally renowned teacher, speaker, researcher, and consultant. His consulting clients include Vodafone, BASF, Philips, Legrand, etc. His areas of interest and expertise include marketing channels and incentives, design thinking, change management, learnability, and innovation in education systems. He has recently begun a second term as Dean and Professor of Marketing at S.P. Jain Institute of Management and Research, one of India’s premier business schools. During his first term, a number of significant changes have been implemented at the institute. He has co-authored a bestselling book on the “Made In India Manager.”

Soojin Kwon (Representative Director), Managing Director, Full-Time MBA Admissions and Program, Stephen M. Ross School of Business, University of Michigan

Soojin Kwon is the managing director for full-time MBA Admissions and Program at Michigan Ross. She joined Ross in 2004, became director of MBA Admissions in 2006 and launched the team exercise as part of their admissions process. In 2016, she became managing director of the full-time MBA Admissions and Program, overseeing admissions, academics, and student experience for 800+ students. Soojin is also a lecturer of Business Communication and has taught in Ross’ BBA and MBA Programs and Executive Education. Prior to Ross, Soojin was a manager in Deloitte’s strategy and operations practice. She has also served on the Senate Budget Committee, House Appropriations Committee, and at the Department of Commerce as a presidential management fellow. Soojin is a frequent presenter at GMAC’s Annual Conference and Leadership Conference and has served as the faculty in residence and instructor in GMAC’s Admissions Institute for New Professionals. She was previously on the board of the Forte Foundation. Soojin holds an MBA from Ross, a Master’s in Public Policy from Harvard’s Kennedy School of Government, and a bachelor’s in conomics and Political Science from Yale

Jay Nibbe (Board Elected Director), Global Vice Chair – Markets, EY

Jay Nibbe has 35 years’ experience serving a wide variety of clients and filling numerous leadership roles. He joined EY in 1985 and became a partner in 1994. Currently, he serves as EY Global Vice Chair – Markets and as a member of the EY Global Executive. He oversees all accounts across all EY service lines, sectors and geographies. As part of this role he is responsible for leading Global Industry, Global Solutions, Alliance Partnerships, Managed Services, Business Development and the EY global alumni programs. He was a board member at the Minnesota State University Moorhead Alumni Foundation (from 2007 to 2009) and is currently a member of the US-Russia Business Council, and the SKOLKOVO International Advisory Board (Moscow). He holds a bachelor’s degree in accounting and finance degree from Minnesota State University Moorhead and a master’s degree in business taxation from the University of Minnesota.

Enase Okonedo (Dean Director), Dean, Lagos Business School, Pan Atlantic University

Enase Okonedo, FCA is a professor of management and an accomplished professional with over 30 years’ experience in the financial services and management education sectors. In 2009, she became Dean of Lagos Business School where she has the responsibility for setting the strategic direction for the school. Under her leadership, the school achieved international accreditations from AACSB International and the Association of MBAs (AMBA). As Dean, Lagos Business School has sustained its Financial Times of London ranking becoming one of the top 50 global providers of Open-Enrolment and Custom Executive Education programs in 2020. In 2018, the Lagos business School Executive MBA was ranked as one of the top 50 EMBA programs by The Economist magazine. She has served as a board member and chairperson of the Association of African Business Schools (AABS) and a member of the board and Secretary-Treasurer of AACSB International. She currently serves on the board of the Global Business School Network (GBSN); is a member of the International Advisory Board of Porto Business School, Portugal; as well as a member of the Academic Advisory Board, Blatnavik School of Government, University of Oxford. She is President of AIFA Reading Society; Nigeria, a member of the Panel of Advisors, Africa Initiative for Governance (AIG) and also serves on the boards of several other companies.

GMAC also recognizes its outgoing board chair, William Boulding, Dean of the Fuqua School of Business at Duke University. Among Dr. Boulding’s many accomplishments as GMAC’s board chairperson, he oversaw the creation and launch of GMAC’s Early Warning Signals white paper, bringing issues associated with student and talent mobility to the forefront of public policy discourse. As part of that work Dr. Boulding noted that, “Aspiring students who want to cross national borders to attend business school are a critical economic resource; over the course of their careers, these graduates will guide companies through complicated but lucrative foreign markets, provide overseas contacts for their classmates, provide top-tier talent for global companies, and stitch together the global economy.” While Dr. Boulding’s two-year term as GMAC board chairperson expires on June 30, he will continue to serve as a Dean Director on the GMAC board until June 30, 2022.

Also leaving the GMAC board as of July 1 are Ellen J. Glazerman, Executive Director, Ernst & Young Foundation, Ernst & Young LLP; D. Eric Hirst, Senior Associate Dean for Academic Affairs and King Ranch Chair for Business Leadership, McCombs School of Business, The University of Texas at Austin; Xiongwen Lu, Dean and Professor of Marketing , School of Management, Fudan University; and Sri Zaheer, Dean and Elmer L. Andersen Chair in Global Corporate Social Responsibility, Carlson School of Management, University of Minnesota. GMAC thanks them for their service to our organization and contributions to the graduate management education community.

About GMAC

The Graduate Management Admission Council™ (GMAC™) is a mission-driven association of leading graduate business schools worldwide. Founded in 1953, we are committed to creating solutions for business schools and candidates to better discover, evaluate, and connect with each other. We work on behalf of the schools and the graduate management education community, and guide candidates on their journey to higher education, to ensure that no talent goes undiscovered.

GMAC provides world-class research, professional development opportunities and assessments for the graduate management education industry, designed to advance the art and science of admissions. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment, recognized by more than 7,000 programs worldwide. Other GMAC assessments include the NMAT by GMAC™ (NMAT™) exam, for entrance into graduate management programs in India, Nigeria, the Philippines, and South Africa, and the Executive Assessment (EA), which supports the admissions needs of more than 160 programs around the world.

Our flagship portal for graduate management education resources and information, www.mba.com, receives over 7 million visits a year and features the Program Finder matching tool and GMASS™ search service, a data-driven technology that helps connect candidates and business schools. These platforms are part of GMAC Connect, a suite of services that help schools attract students through recruiting solutions that marry our market intelligence, data, reach and candidate touchpoints.

Subsidiaries of GMAC include UK-based online publishing company BusinessBecause, a content-rich destination that helps students identify the right-fit business schools during the critical consideration and selection phases of their journey, and The MBA Tour, which supports business schools’ global recruiting efforts by organizing business education-focused events virtually and around the world.

GMAC is a global organization with offices in China, India, Singapore, United Kingdom, and the United States. To learn more about our work, please visit www.gmac.com.

Media contact:
Geoffrey Basye, Director of Media Relations, GMAC
+1 (202) 271-1529 or gbasye@gmac.com

African Development Bank ranks 4th on global index of transparency

ABIDJAN, Côte d’Ivoire, June 25, 2020 (GLOBE NEWSWIRE) — Publish What You Fund has ranked the African Development Bank fourth out of 47 global development institutions on its Aid Transparency Index. The Index is the only independent measure of aid transparency among the world’s major development agencies. The index places the Bank in the highest category of transparency along with other world class institutions such as the World Bank, the Asian Development Bank and UNDP.

“We congratulate the African Development Bank – Sovereign Portfolio on achieving 4th place in the 2020 Aid Transparency Index. As large quantities of aid are being reallocated to deal with the COVID-19 emergency, the transparency of international aid is more important than ever,” said Gary Forster, CEO of Publish What You Fund, which has produced the index each year since 2011.

Publish What You Fund ranked the Bank ‘very good’ — The highest of the five categories used to assess organisations’ transparency. The ranking is based on several criteria, including finance and budgets, basic information data, organisational planning and performance.

In the new Index, which covers the 2019 year,  the African Development Bank scored 95.5 out of 100 on transparency — A significant improvement on its score for 2018.

“It is promising to see an increase in the quantity, quality and timeliness of aid data now being shared by a broad cross section of the world’s major aid agencies. As we work together to fill the gaps in the aid data landscape, we look forward to exploring how we can best meet the demand for data and data engagement,” said Gary Forster, CEO of Publish What You Fund.

The institution’s commitment to total transparency is illustrated by MapAfrica — A web-based platform that maps the Bank’s investments across Africa.

“I am absolutely delighted with this achievement!” said Swazi Tshabalala, Acting Senior Vice President for the African Development Bank Group. “It crowns this institution’s commitment to transparency at a time when it has never been so important. With such large volumes of funding now being assigned to combat the Covid-19 pandemic, it is crucial for our citizens to know how much, where and when the African Development Bank is investing in Africa’s development.”

Click here to access the full report.

Contact: Emeka Anuforo, Media Relations Officer, Communications and External Relations Department, African Development Bank, email: e.anuforo@afdb.org

Virgin Hyperloop and Spirit AeroSystems Announce Collaboration Agreement

The companies will work together on the hyperloop prototype as Virgin Hyperloop moves toward a commercial design and creates a new global supply chain

LOS ANGELES and WICHITA, Kan., June 25, 2020 (GLOBE NEWSWIRE) — Spirit AeroSystems [NYSE: SPR] has joined in partnership with Virgin Hyperloop as it prepares to move towards a commercial product. The collaboration will help to solidify the hyperloop prototype utilizing Spirit Aerosystems engineers, fabricators, builders, supply chain and certification experts, and technicians.

“As one of the most credible aerospace-grade structures companies in the world, Spirit Aerosystems provides a strong fit for our team as we look to build out strong partners in the hyperloop ecosystem,” said Josh Giegel, Chief Technology Officer of Virgin Hyperloop.

Hyperloop is a new mode of transportation designed to eliminate the barriers of distance and time for both people and freight. It can travel at speeds approaching 700mph, connecting cities like metro stops — and it has zero direct emissions. With hyperloop, vehicles, called pods, accelerate gradually via electric propulsion through a low-pressure tube. The pod floats along the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.

The hyperloop supply chain is unique in the way it integrates existing technology with proprietary innovations to deliver a completely new transport experience. The pod is similar to an airplane fuselage in a low pressure environment, the columns similar to those of a pipeline, and the pressure management system similar to those used in industrial operations such as manufacturing semiconductors.

“As a new form of mass transportation, hyperloop opens up a new segment of diversification for us in the transportation space.  Our collaboration with Virgin Hyperloop is a prime example of our belief that this burgeoning industry is a game changer,” said Keith Hamilton, Spirit Executive Director of Programs & Business Development.  “Through leveraging our values and core competencies of designing and manufacturing aerostructures, many of the skills are transferable to produce the hyperloop bogie.”

This new transit mode will unlock exponential growth opportunities for cross-industry manufacturing and development jobs – across construction, aerospace, rail, automotive, aviation, electric vehicles, and autonomous control.  As Virgin Hyperloop looks to create the first Hyperloop Certification Center in the United States, it will bring thousands of jobs for first movers of the technology and its partners.

About Virgin Hyperloop 

Virgin Hyperloop is the first company in the world that has successfully tested its hyperloop technology at scale, launching the first new mode of mass transportation in over 100 years. The company successfully operated a full-scale hyperloop vehicle using electric propulsion and electromagnetic levitation under near-vacuum conditions, realizing a fundamentally new form of transportation that is faster, safer, cheaper, and more sustainable than existing modes. The company is now working with governments, partners, and investors around the world to make hyperloop a reality in years, not decades. They currently have projects underway in the US, India, and the Middle East. Learn more about Virgin Hyperloop’s technology, vision, and ongoing projects here.

About Spirit AeroSystems, Inc.

Spirit AeroSystems designs and builds aerostructures for both commercial and defense customers. With headquarters in Wichita, Kansas, Spirit operates sites in the U.S., U.K., France and Malaysia. The company’s core products include fuselages, pylons, nacelles and wing components for the world’s premier aircraft. Spirit AeroSystems focuses on affordable, innovative composite and aluminum manufacturing solutions to support customers around the globe. More information is available at www.SpiritAero.com.

On the web: www.spiritaero.com
On Twitter: @SpiritAero



Ryan Kelly
Vice President of Marketing and Communications

Keturah Austin
(316) 523-2611

Instant Insights Brings eVestment Data to More Users

ATLANTA, June 25, 2020 (GLOBE NEWSWIRE) — eVestment, a global leader in institutional investment data and analytics, has launched Instant Insights for traditional asset managers to surface key data points about their products and business opportunities in the spaces in which they compete.

The automated dashboard gives traditional managers an instant and customizable view into how their strategies rank against competitors, the dynamics of each universe in which they compete, investor and consultant interest in their products and more. Instant Insights is next-generation competitive intelligence for executives in sales, marketing and consultant relations who want to set product and market priorities with data.

“eVestment data and analytics continue be seen as indispensable for thousands of managers who are focused on raising institutional assets,” said Dan Caron, eVestment’s Global Head of Client Success. “Our goal with Instant Insights is to ‘democratize’ data intelligence within client firms to make it readily accessible by even the busiest C-level leaders who will never have time to learn robust software.”

Instant Insight structures and displays data from underlying eVestment solutions, including:

  • Market Lens, a qualitative library sourced from over 8,000 public and corporate plans in the U.S., Canada and the UK, with searchable intelligence on consultant ratings and recommendations, early signals of allocation changes pointing to managers searches or replacements in the future, and other critical competitive intelligence for managers
  • Advantage, which captures and aggregates viewership patterns from the more than 600,000 unique screens that institutional investors and consultants conduct on the eVestment platform every year as they research asset management firms and their institutional products
  • Asset Flows, which calculates the flow of more than $48 trillion traditional investment dollars and more than $3 trillion alternative investments across strategies, asset classes and geographies
  • Analytics, which ranks more than 25,000 strategies from over 4,000 asset managers on performance, AUM and other metrics

“We’re continually looking for ways to surface insights for our clients, whether that’s through our quarterly trends briefings, institutional intelligence reports, or the universe and product rankings we publish weekly on our newsfeed,” Caron explained. “Instants Insights is just one more way we’re transforming data into actionable intelligence for the thousands of managers who rely on eVestment to set and execute their institutional distribution strategy.”

For more information about eVestment Instant Insights, please visit https://www.evestment.com/solutions/asset-managers/instant-insights/ or email ClaireSpencer@eVestment.com.

About eVestment

eVestment, a Nasdaq company, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.

Press Contact
Mark Scott
678 238 0761