Latest news with #JonathanLong
Yahoo
29-05-2025
- Business
- Yahoo
Frontier Infrastructure Advances Power Platform with a Significant Turbine Technology Acquisition, $130 Million Senior Secured Equipment Supply Loan and Strategic Advisory Appointment
Tailwater-backed company accelerates deployment of low-carbon, behind-the-meter energy projects and bolsters leadership team amid rising industrial power demand DALLAS and NEW YORK, May 29, 2025 /PRNewswire/ -- Frontier Infrastructure Holdings ("Frontier" or the "Company"), a leading developer of low-carbon infrastructure across the Mountain West and Texas, today announced a series of strategic developments that reinforce its leadership in scalable power generation. These include the acquisition of 270 megawatts (MW) of gas turbines for behind-the-meter ("BTM") energy projects, the successful closing of a $130 million senior secured equipment supply loan to advance its power platform, and the appointment of veteran power executive Jonathan E. Long as a Board Advisor. Frontier is a portfolio company of Tailwater Capital LLC ("Tailwater"), a private equity firm with a full-immersion approach to energy and environmental infrastructure investing. Technology Equipment Acquisition Strengthens Frontier's Position in BTM Generation Frontier has purchased 270 MW of advanced NovaLT™ gas turbines from Baker Hughes, a key step in launching its first wave of BTM generation sites in Wyoming and Texas. This milestone builds on the companies' broader partnership announced in March 2025, which is focused on enabling large-scale power and carbon capture for energy-intensive operations. Driven by surging electricity needs across sectors like data infrastructure and industrial processing, Frontier's BTM model offers localized, dispatchable power with integrated carbon solutions. The newly acquired turbines will be fast-tracked for deployment to meet this growing demand. "We're seeing a rapid shift in how major power users think about reliability and emissions," said Robby Rockey, President & Co-Chief Executive Officer of Frontier. "With our scalable BTM solutions and the backing of trusted technology from Baker Hughes, Frontier is well-positioned to deliver resilient infrastructure that aligns with the performance and sustainability goals of today's largest energy consumers." $130 Million Senior Secured Equipment Supply Loan to Advance Power Platform To support this turbine acquisition and accelerate development of its power platform, Frontier closed a $130 million senior secured equipment supply loan with Kennedy Lewis Investment Management LLC ("Kennedy Lewis"), acting as Sole Lead Arranger. Combined with equity investment, the loan will fund near-term procurement of power generation equipment. "Kennedy Lewis' investment in Frontier represents a pivotal step in scaling our power generation platform and positions us to build incumbency in the BTM space" said Steven Lowenthal, Co-Chief Executive Officer of Frontier. "We are grateful to Kennedy Lewis and our advisors at PEI and Davis Polk for ensuring a quick and seamless transaction." PEI Global Partners ("PEI") served as Sole Financial Advisor to Frontier, with a deal team led by Sky Fabian and Karsten Schmitz. Davis Polk & Wardwell LLP acted as Borrower's Counsel, while Akin Gump Strauss Hauer & Feld LLP represented the Lender. Jonathan E. Long Joins Frontier as Strategic Board Advisor To support its continued growth and infrastructure development, Frontier has appointed Jonathan E. Long as a Board Advisor. Long brings more than three decades of experience in power generation and infrastructure, most recently serving as Vice President of Power Development at Entergy. He will advise Frontier as it scales its BTM and CCS platforms to serve energy-intensive customers. "We are excited to welcome Jon to the Frontier team," said Stephen Lipscomb, Partner at Tailwater Capital. "His deep industry knowledge and leadership in large-scale energy projects will be instrumental in advancing our mission to provide reliable, low-carbon energy solutions to high-demand sectors." About Frontier Frontier Infrastructure Holdings, LLC is a leading developer of low-carbon infrastructure solutions across the Mountain West and Texas, specializing in integrated power generation and carbon capture and storage projects. The company is at the forefront of industrial decarbonization, providing scalable, permanent carbon storage and behind-the-meter power solutions to support growing regional energy demand. For more information, please visit About Kennedy Lewis Kennedy Lewis is an alternative credit manager founded in 2017 by David K. Chene and Darren L. Richman with $28 billion under management across private funds, a business development company, and collateralized loan obligations. The firm seeks to deliver attractive risk adjusted returns for clients by investing across the credit markets through its opportunistic credit, homebuilder finance, core lending and broadly syndicated loan strategies. Visit us at About Tailwater Capital Dallas-based Tailwater Capital is an energy and environmental infrastructure private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $5 billion in committed capital since inception and the team has executed more than 235 transactions representing over $26 billion in value. For more information, please visit About PEI PEI Global Partners Holdings LLC is an independent, closely held investment bank with offices in New York City, Tampa and Hong Kong, specializing in the power, energy, and infrastructure sectors. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. For more information on PEI, please visit Frontier Media RelationsJill McMillanManaging Director, Communications & Public Affairs+1 214-489-7047jmcmillan@ John SchaufeleManaging Director, Investor Relations & FundraisingPhone: 214-489-7043Email: jschaufele@ For Inquiries Related to Frontier Infrastructure:Email: info@ View original content to download multimedia: SOURCE Frontier Carbon Solutions Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
26-05-2025
- Entertainment
- Hans India
Aga Khan Academy Hyderabad hosts graduation ceremony for Class of 2025
Hyderabad: The Aga Khan Academy Hyderabad held a graduation ceremony to celebrate the accomplishments of the Class of 2025. The event marked the culmination of the International Baccalaureate (IB) Diploma Programme for 77 students, who were honoured for their academic achievements, leadership, and commitment to community service. Held on the Academy's scenic campus, the ceremony brought together families, faculty, alumni, and distinguished guests, while also being broadcast live to viewers across the globe. The graduating class gathered for a final group photograph, followed by a traditional pinning ceremony. Students received a commemorative pin from their advisors, symbolising their completion of studies and induction into the global alumni community. The formal event began with welcome remarks from Head of Academy Dr Jonathan Long, who praised the graduates for their resilience, empathy, and pursuit of excellence. 'This class has shown unwavering commitment not only to academics but also to serving their communities and supporting one another,' he said. A highlight of the ceremony was a musical performance by graduate Zanea Ali, a nationally and internationally acclaimed pianist and multi-instrumentalist. Her emotive rendition of Interstellar served as a powerful tribute to the themes of courage and hope that defined the cohort's journey. Adding a personal dimension to the celebration, Shiraz Vastani, Chairman of the Aga Khan Education Service, India—and parent of an Academy alum—addressed the graduates, sharing heartfelt reflections on the transformative power of an Aga Khan Academy education. The keynote address was delivered by Meaghan Blight, President of Wesleyan College in the United States. A leading voice in inclusive leadership and equity in education, Blight spoke passionately about the importance of courage, service, and global citizenship in an ever-changing world. She also highlighted the expanding partnership between Wesleyan College and the Aga Khan Schools, which now offers scholarships to female IB students across the network. Throughout the event, the spirit of unity, achievement, and forward-looking optimism was palpable. As the graduates now embark on their higher education journeys—backed by nearly 300 university offers and over $6.3 million in scholarships—the ceremony served as a fitting tribute to their past achievements and future promise.
Yahoo
10-05-2025
- Business
- Yahoo
A midsize city in upstate New York is the country's toughest housing market this spring
To hear local Realtors tell it, losing a few bidding wars is a rite of passage for any prospective homebuyer in Rochester, N.Y. In the western New York city, homes typically go from listed to under contract in a matter of days. A well-kept home can command dozens of offers. Listing prices might as well be starting bids. Agents often advise clients surfing online listings to set their price filters well below what they actually hope to pay, to account for the inevitable bidding wars. By many metrics, Rochester, a city of 200,000 on the banks of Lake Ontario, has the most competitive housing market in the country. Zillow's market heat index, which measures factors like time on market, interest in active listings, and price cuts, ranks Rochester as a tougher place to buy a home than San Francisco, San Jose, Boston, and New York. The index considers any reading over 70 to be a strong seller's market. Rochester scores a 146.5. 'After one or two offers, they kind of get the hang of it, and then they listen to my advice,' said Talha Shahid, a real estate agent in the city. He tries to prepare his buyers for the reality that a home listed at $300,000 will likely sell for $350,000, and that any offers with inspection contingencies usually aren't competitive. Learn more: Is now a good time to buy a house? So, how did a city whose population peaked in 1950 end up with one of the most cutthroat real estate markets in the US? The answer, somewhat counterintuitively, has to do with its affordability. The median home in the metro area of about 1 million sold for $225,000 at the end of March, according to the Greater Rochester Association of Realtors. That's up 12.5% from a year earlier, but still cheap enough to be achievable for buyers earning $60,000 to $80,000. The area's median household income was around $67,000 in 2022, and major employers span several relatively well-paying industries like healthcare and higher education. Paychex, a publicly traded payroll provider, is headquartered in the city, while the corporate offices of East Coast grocery store chain Wegmans are in a nearby suburb. Read more: How much house can I afford with a $70,000 salary? 'We're catching up with the rest of the country,' said Jonathan Long, a Rochester-based mortgage loan consultant with 1st Priority Mortgage. 'The housing market is a little tough, and mortgage payments are a little tough right now, but all in all, I would still say it's a super affordable place to live.' 'Nothing out there' Meanwhile, the region has struggled for years with a deep inventory shortage. There were just 913 homes for sale at the end of March, down 8.1% from a year ago, according to the Realtors association. On average, a home spends just eight days on the market. 'There's nothing out there,' said Mark Siwiec, the CEO of Elysian Homes, a Rochester-based real estate brokerage. 'Post-Great Recession, we are shy 18,000 housing units.' Siwiec blames the inventory problem on multiple factors: a lack of building throughout the region due to factors including higher costs and local politics, homeowners staying in place longer, and, of course, people with 3% mortgages who don't want to move now that rates are more like 6.8%. Learn more: When will mortgage interest rates go down to 4%? Right now, homebuilders have little incentive to come to the area because low home prices often translate to thinner margins. According to Richard Deitz, a Buffalo-based economic policy adviser at the New York Fed, while Rochester is reinventing itself as a healthcare and education hub after decades of manufacturing job losses and the shrinkage of Eastman Kodak and Xerox, the area's economy is relatively weak and its population is slowly falling. 'This isn't a matter of a booming economy and population growth bidding up home prices,' Deitz said. 'There's so little for sale that it's bidding up prices of what's there.' With little new construction available, many buyers are considering older homes. Colonial styles are popular in the region, as are American Foursquares, a boxy two-story home type commonly constructed between the late 1800s and the 1940s. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Buyers are often a mix of investors, locals, and relocators. Homeownership costs in the region are fairly low compared to average rents, making it a popular place to own rentals. But Siwiec sees signs that the tides are turning, if only slightly. Since April, he says he's noticed the market slowing, which he thinks may be related to heightened economic uncertainty. He's cutting costs at his brokerage to prepare. 'Today, of the 18 properties we list for sale, I should have 18 sales under my belt,' he said. 'I will have 10 or 11. That's shocking.' Ahmed Munasser, 33, has plenty of experience navigating the Rochester market. He works in the mortgage industry and has previously purchased investment properties in the region. When it came time to buy a home for himself, he searched for about four months and switched real estate agents after several of his early offers didn't pan out. He ended up buying in the nearby suburb of Greece, N.Y., with a strategy that included a larger-than-typical deposit and giving the home's previous owners a month to vacate after closing. Despite the challenges, Munasser said this was one of his easier searches. These days, 'a lot of houses don't go for a lot more than the asking price,' he said. 'Some of them do — I was looking at one house that went for $120,000 over the asking price. But others only go like 20, 30 or 40K over.' His winning bid? $9,000 over list. Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance. Sign up for the Mind Your Money newsletter Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
