Gaza aid logistics company funded by Chicago private equity firm
McNally Capital, founded in 2008 by Ward McNally, helped "support the establishment" of Safe Reach Solutions, a McNally Capital spokesperson told Reuters. SRS is a for-profit company established in Wyoming in November, state incorporation records show. It is in the spotlight for its involvement with the U.S.- and Israeli-backed Gaza Humanitarian Foundation, which last week started distributing aid in the war-torn Palestinian enclave. The foundation paused work on Wednesday after a series of deadly shootings close to its operations and has suffered from the departure of senior personnel.
• McNally Capital has economic interest in Safe Reach Solutions
• GHF aid distribution halted after deadly shootings near operations
• U.N. and aid groups refuse to work with GHF, citing lack of neutrality
"McNally Capital has provided administrative advice to SRS and worked in collaboration with multiple parties to enable SRS to carry out its mission," the spokesperson said. "While McNally Capital has an economic interest in SRS, the firm does not actively manage SRS or have a day-to-day operating role."
SRS is run by a former CIA official named Phil Reilly, but its ownership has not previously been disclosed. Reuters has not been able to establish who funds the newly created foundation.
The spokesperson did not provide details of the scale of the investment in SRS by McNally Capital, which says it has $380 million under management.
McNally Capital founder Ward McNally is the great great great grandson of the co-founder of Rand McNally. The McNally family sold the publishing company in 1997.
A spokesperson for SRS confirmed it worked with the foundation, also known as GHF, but did not answer specific questions about ownership.
GHF, which resumed aid distribution on Thursday, did not respond to a request for comment
While Israel and the United States have both said they don't finance the operation, they have pushed the United Nations and international aid groups to work with it, arguing that aid distributed by a long-established U.N. aid network was diverted to Hamas. Hamas has denied that.
Israel blocked almost all aid into Gaza for 11 weeks until May 19, and has since only allowed limited deliveries in, mostly managed by the new GHF operation. This week GHF pressed Israel to boost civilian safety beyond the perimeter of its distribution sites after Gazan health officials said at least 27 Palestinians were killed and dozens wounded by Israeli fire near one of the food distribution sites on Tuesday, the third consecutive day of chaos and bloodshed to blight the aid operation.
The Israeli military said its forces on Tuesday had opened fire on a group of people they viewed as a threat after they left a designated access route near the distribution center in Rafah. It said it was investigating what had happened.
The U.N and most other aid groups have refused to work with GHF because they say it is not neutral and that the distribution model militarizes aid and forces displacement.
The SRS spokesperson said in a statement that under Reilly's leadership, "SRS brings together a multidisciplinary team of experts in security, supply chain management, and humanitarian affairs."
McNally Capital has investments in defense contracting companies. Among the firms it acquired was Orbis Operations, a firm that specializes in hiring former CIA officers. Orbis did not return calls for comment. Reilly used to work for Orbis.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
9 minutes ago
- Arab News
Italian funeral for Palestinian woman evacuated from Gaza becomes call to ‘make noise'
PONTASSERCHIO, Italy: Funeral services were held Wednesday for a young Palestinian woman who died in Italy shortly after being evacuated from Gaza last week, exposing Italians to the desperate plight of Palestinians in the besieged territory. The funeral of Marah Abu Zuhri, attended by several hundred people, was interrupted repeatedly by chants of 'Free Palestine' and featured speeches by local authorities denouncing Israel's policy in Gaza and expressing solidarity with the Palestinian people. As Palestinian flags fluttered, mourners stood in prayer before Zuhri's coffin, which was was draped in a Palestinian flag and a keffiyeh scarf in the town of Pontasserchio, near Pisa. Zuhri, 19, had been evacuated to Italy with what Israel had called leukemia, but Italian doctors said they found no initial evidence of that and instead found 'profound wasting' and an undiagnosed or misdiagnosed condition. The United Nations and partners have said 22 months of war have devastated Gaza's health system, and food security experts have said the 'worst-case scenario of famine is currently playing out.' Israel is moving ahead with a new military offensive on some of the territory's most populated areas, Mayor Matteo Cecchelli said he wanted to honor Zuhri's life with a public service in the town's Park of Peace, to 'make noise' about what he called a political and humanitarian 'catastrophe' in Gaza. 'The reality is that every day in the Gaza Strip, people are dying in the deafening silence of world governments,' he said to applause. 'We cannot remain silent today in this field of peace. There are those who have decided to make noise and have decided to be here to express their dissent toward this genocide.' Israel asserts that it abides by international law and is fighting an existential war in Gaza after Hamas' deadly Oct. 7, 2023, attack that killed some 1,200 people and took more than 250 others hostage. Israel has rejected genocide allegations related to its war in Gaza and called them antisemitic. Zuhri arrived in Italy overnight on Aug. 13-14 as one of 31 sick or injured Palestinians evacuated on an Italian humanitarian airlift that has brought nearly 1,000 ill Palestinians and their families to the country since the war began. Israel said she had leukemia and had been offered an evacuation earlier but claimed that Hamas had exploited her case, without offering evidence. The UN World Health Organization, which coordinates patients' evacuations, didn't respond to a request for comment. Gaza's Health Ministry has asserted that evacuations are often delayed or canceled by Israeli authorities. It says over 18,000 patients and wounded require treatment outside Gaza. Zuhri was admitted to the hematology ward of Pisa University's Santa Chiara Hospital, a known oncological hospital in Tuscany, but died there on Aug. 15. The hospital said she arrived with a 'very complex/compromised clinical picture and in a state of profound wasting.' She suffered a sudden respiratory crisis and subsequent cardiac arrest, which killed her, it said. The head of the hematology department at the Pisa hospital, Dr. Sara Galimberti, said Zuhri arrived with a diagnosis of suspected acute leukemia, but tests the hospital conducted came back negative, with no signs of the 'bad cells' that would indicate leukemia. Galimberti told reporters that Zuhri likely had been misdiagnosed, and that her condition was nevertheless seriously compromised and had been for a while. 'The patient was in a complete condition of wasting, and completely bedridden despite being 19 years old,' she said. The hospital conducted a nutritional consultation and began a hypercaloric therapy and transfusional support, but Zuhri died before a full diagnosis was possible, Galimberti said. The doctor said the woman's mother, Nabeela Abu Zuhri, declined an autopsy on religious and personal grounds. The mother, who accompanied her daughter on the flight, spoke briefly at the funeral, thanking Italy for trying to save her daughter and asking for prayers for Palestinians. She said she was 'leaving a part of my heart, a part of me, with you' before returning to Gaza. The imam of Pisa, Mohammad Khalil, who translated for her, tried to calm the crowd and focus on Zuhri, but he also spoke of food shortages and hunger in Gaza. The United Nations has said starvation and malnutrition in Gaza are at their highest levels since the war began. The UN says nearly 12,000 children under 5 were found with acute malnutrition in July — including more than 2,500 with severe malnutrition, the most dangerous level. The World Health Organization says the numbers are likely an undercount. Israeli Prime Minister Benjamin Netanyahu has repeatedly asserted that no one in Gaza is starving, with 'no policy of starvation in Gaza.' AP reporting has found that malnourished children were arriving daily at a Gaza hospital, with some dying from hunger, including ones with no preexisting conditions.
Asharq Al-Awsat
39 minutes ago
- Asharq Al-Awsat
Gold Hovers Near Three-week Lows before Jackson Hole Summit
Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the minutes of the Federal Reserve's July meeting and the Jackson Hole symposium of central bankers this week for cues on further rate cuts. Spot gold was up 0.4% at $3,329.89 per ounce, as of 1140 GMT, after reaching its lowest level since August 1. US gold futures for December delivery rose 0.4% to $3,372.80. The US dollar index was steady after climbing to a more than one-week high earlier in the session, making gold more expensive for holders of other currencies. "Spot gold is likely to adhere to its sideways range until the Fed can resume its rate-cutting cycle, while the dollar's month-to-date resilience is also making it harder for it to embark higher," said Han Tan, chief market analyst at investment trading platform Reuters reported. Minutes of the Fed's July meeting, due later in the day, were anticipated to offer further insights into the central bank's economic outlook. "Markets will be looking out for further clues about the dissenting voices from the last FOMC meeting. Gold could even see a slight lift prior to Jackson Hole, should the FOMC minutes show that the dissenting voices at the previous Fed policy meeting were louder than envisioned," Tan said. Fed chair Jerome Powell is due to speak at the central bank's annual research conference in Jackson Hole, Wyoming, on Friday. Gold typically performs well when interest rates are low and during times of economic and geopolitical uncertainty. On the international front, US President Donald Trump ruled out deploying ground troops to Ukraine on Tuesday but suggested air support could be part of a deal to end Russia's war in the region. Ukrainian President Volodymyr Zelenskiy said the White House talks were a "major step forward" towards ending the conflict and setting up a trilateral meeting with Russian President Vladimir Putin and Trump. Elsewhere, spot silver fell 0.6% to $37.13 per ounce, platinum gained 1.1% to $1,319.81 and palladium was down 0.4% at $1,111.17.
Asharq Al-Awsat
43 minutes ago
- Asharq Al-Awsat
Vehicle Congestion at King Abdulaziz Port Prompts Urgent Action by Saudi Ports Authority
The Saudi Ports Authority (Mawani) has launched urgent measures to address growing congestion at King Abdulaziz Port in Dammam, particularly in areas designated for vehicle storage. According to sources, the authority is urging importers to quickly complete customs clearance procedures to prevent further delays. The authority has shortened the clearance period for shipments in storage yards as part of efforts to boost trade flows with global markets, stimulate maritime-related sectors, improve supply chain efficiency, and support maritime activity. The measures are aligned with the Kingdom's Vision 2030 goals of establishing Saudi Arabia as a global logistics hub and key player in international trade. The authority highlighted challenges posed by the increasing number of incoming ships and imported cargo, noting that storage areas are becoming congested, particularly with vehicles. Delays in clearing shipments by some importers have disrupted vessel handling operations, underscoring the need for immediate action. Mawani stressed that efficient port operations require cooperation from all beneficiaries, particularly vehicle agents and other importers with cargo at King Abdulaziz Port. It urged all parties to complete clearance and take delivery of shipments promptly to avoid operational disruptions, and confirmed that new vehicles meet all customs requirements and can be cleared and collected immediately upon unloading. The ports supervised by the authority recorded a 12.01 percent increase in handled containers in July, reaching 722,502 TEUs compared to 645,019 TEUs in the same period last year. Transit containers rose 35.34 percent to 175,666 TEUs, up from 129,797 TEUs in 2024. Export containers increased by 12.86 percent to 275,098 TEUs, compared to 243,757 TEUs previously. Inbound containers saw a slight increase of 0.10 percent, totaling 271,738 TEUs versus 271,465 TEUs last year. Overall cargo throughput, including general cargo, solid bulk, and liquid bulk, rose 2.81 percent to 21.18 million tons, compared to 20.60 million tons in the previous year. General cargo accounted for 461,958 tons, solid bulk for 4.096 million tons, and liquid bulk for 16.622 million tons. The port also received 582,708 heads of livestock, a 13.18 percent increase over 514,864 heads last year. Maritime traffic rose 11.27 percent to 1,017 vessels, up from 914, while passenger numbers surged 41.70 percent to 73,953 passengers compared to 52,191 in 2024. Vehicle movements, however, fell 22.66 percent to 69,969 units, down from 90,471 the previous year.
