Latest news with #Validus
Yahoo
18-07-2025
- Business
- Yahoo
Former 89 Energy Team Reloads with Pearl Backing for Midcon M&A
After a whirlwind of private upstream exits in the past 24 months, another new startup E&P is entering the fray. Blackjack Natural Resources is launching with financial backing from private equity firm Pearl Energy Investments and company management, the firm announced July 17. Blackjack's founding partners include co-CEOs Jeff Wampler and Andrew Haraway and Grant Sykes, executive vice president of operations. The three previously worked together at Anadarko Basin E&P 89 Energy in engineering, finance and operations roles. Oklahoma City-based Blackjack plans to pursue upstream acquisition opportunities 'with a primary focus on the greater Midcontinent region,' the company said. 'We believe the current market provides attractive opportunities for investment, and we are thrilled to partner with a premier financial sponsor in Pearl,' Wampler said. Pearl is active in the upstream private equity space. The firm's portfolio includes Permian Resources, Infinity Natural Resources, Camino Natural Resources and Slant Energy. 89 Energy 89 Energy grew into one of the Midcontinent's top private producers before selling earlier this year. The company was a combination of three private E&Ps backed by Kayne Anderson: Casillas Petroleum Resource Partners, Native Exploration and Acacia Exploration. The company managed around 65,000 net acres in the SCOOP play and produced 25,000 boe/d (30% oil, 60% liquids), according to 89 Energy's website. In March, 89 Energy closed an $850 million sale to private producer Validus Energy. Validus is a portfolio company of Elliott Investment Management. Validus has deployed more than $3 billion into Midcontinent M&A over the past year. The company reportedly spent $450 million to acquire Anadarko Basin assets from Continental Resources last year. In September 2024, Validus struck a deal to acquire private Oklahoma E&P Citizen Energy for over $2 billion. RELATED Validus Pays $850MM for 89 Energy as Midcon M&A Heats Up Midcon M&A The Midcontinent oil and gas market has suffered for the past decade under a lack of capital investment and exits by major operators. But interest in the Anadarko Basin is growing once again, fueled by a rise in natural gas prices and scarcity in other key Lower 48 basins. ConocoPhillips is currently marketing Marathon Oil's legacy Anadarko assets—which it picked up through the blockbuster $17.1 billion Marathon acquisition last year. Marathon's Oklahoma portfolio includes around 250,000 net acres. Production from the asset averaged 40,000 boe/d in the third quarter of 2024, according to the company's most recent filing. Sources tell Hart Energy that bids recently came in for Marathon's marketed package. Private E&P Canvas Energy has also explored a sale of its Midcontinent assets. Canvas, which rebranded from Chaparral Energy in 2022, held 223,000 net acres in the Anadarko as of second-quarter 2024, according to investor materials. Camino Natural Resources had been exploring a sale in the range of $2 billion but has pulled back from a marketing process, sources told Hart. Denver-based Camino holds approximately 135,000 net acres in the core of the Anadarko and is one of the top producers in Oklahoma. Camino is sponsored by private equity firm NGP. RELATED Oklahoma E&P Canvas Energy Explores Midcon Sale, Sources Say 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
Finextra
30-06-2025
- Business
- Finextra
Blue Ocean Technologies selects Eventus for trade surveillance
Eventus, a leading provider of comprehensive, at-scale trade surveillance and financial risk solutions, and Blue Ocean Technologies, a capital markets fintech leader in global trading and data, announced that Blue Ocean ATS has selected Eventus' Validus platform as its trade surveillance solution. 0 Blue Ocean ATS Chief Compliance Officer Chris Meade said: 'As the first after-hours trading platform to round out the 24-hour equities market, our mission is to continue providing subscribers an efficient marketplace to help them manage risk. To support our ongoing expansion, we rely on robust tools, effective safeguards, clear policies and strong surveillance measures, all critical elements of our ongoing risk controls and success. 'Selecting the Validus solution will significantly increase our ability to monitor activity on the Blue Ocean ATS platform as a result of its comprehensive surveillance features and processes. Our ability to view what we need in a centralized, flexible and scalable fashion through Validus is essential functionality that serves our evolving and growing business.' Eventus CEO Travis Schwab said: 'As the equities market increasingly moves toward a 24/5 model, we are uniquely positioned as the leader in the trade surveillance space to support marketplaces and market participants in this important evolution. We're thrilled that Blue Ocean - which has forged a new path as a first mover for subscribers to experience reliability, transparency and best execution in the after-hours session - has chosen to rely on our firm for protecting the integrity of its markets.' The Validus platform was selected by Blue Ocean Technologies as a strategic choice for not only meeting its trade surveillance requirements but also for its effectiveness in handling large volumes of data and driving more meaningful analysis - enhancing reporting across operations and enabling longer-term data-driven decision making. Eventus has been a leader in providing award-winning trade surveillance solutions for multiple asset classes, including equities and the 24/7 digital asset market. In a recent article, Trade Surveillance After Hours: Preparing for 24/5 Equities Trading, Martina Rejsjo, Eventus Vice President, Product Management, pointed out that surveilling a 24/5 market requires new thresholds, procedures, staffing models and more - and surveillance systems must be adaptable to meet these challenges.
Finextra
19-06-2025
- Business
- Finextra
Validus appoints Daniel Johnson from Hargeaves Lansdown as CTO
Validus Risk Management (Validus), a leading software and tech-enabled services platform for financial risk management, today announces the appointment of Daniel Johnson as Chief Technology Officer (CTO). 0 Based in London and reporting to CEO Kevin Lester, Daniel will lead on developing the company's technology strategy as it continues to scale operations and develop its product offering. With over 15 years of experience working in both large and small tech-driven organisations, Daniel brings significant technical and leadership experience. Most recently, Daniel spent four years at Hargreaves Lansdown, the UK's largest and most successful online investment platform, as Chief Digital Platforms Officer. Prior to Hargreaves Lansdown, Daniel worked as CTO for a number of successful software businesses helping them to build scale and efficiency. The appointment follows the announcement, in February 2025, of a $45 million growth equity investment from FTV Capital. In addition to supporting the company's continued expansion into the APAC, US and European markets, the investment will enable Validus to accelerate its go-to-market efforts and invest in technology and product innovation. Commenting on his appointment, Daniel Johnson said: 'I'm delighted to be joining Validus at such an exciting time for the business. I look forward to working with the team to continue driving product innovation and leading the firm's ongoing development from a technology perspective.' Kevin Lester, CEO of Validus Risk Management, added: 'We are committed to regularly evaluating our technology stack and strategy to ensure we can most effectively support our clients. With his deep expertise, focus on continuous improvement and technology innovation, Daniel is a valuable addition to our executive team as we continue to deliver on our ambitious growth plans.' Earlier this month, Validus announced the opening of its new Singapore office and the appointment of Shawn Koh as Head of Asia Client Coverage, to lead operations across APAC following growing client demand for its services in the region.
Finextra
05-06-2025
- Business
- Finextra
Validus opens new Singapore office
Validus Risk Management (Validus), a leading software and tech-enabled services platform for financial risk management, today announces the opening of its new Singapore office and appointment of Shawn Koh as Head of Asia Client Coverage. 0 In his role, Shawn will lead operations across APAC, as the firm continues to expand its presence in the region following growing client demand for its services, with a particular focus on supporting both local and global private capital firms. Shawn brings significant expertise and a wealth of experience in the region, having previously served as Regional Head of Global Markets Sales Asia at First Abu Dhabi Bank (previously National Bank of Abu Dhabi). In this role, Shawn was responsible for developing client businesses with offices based in Singapore, Hong Kong, Shanghai, and Mumbai. Commenting on his appointment, Shawn Koh says: 'This is an exciting time to be joining Validus as we continue to develop our APAC offering. I'm looking forward to working with and growing our team to support our clients with their risk management needs as they navigate an ever-complex macroeconomic landscape.' With further hires expected in H2 2025, the Singapore opening marks Validus' first office in the region. Its premises will be located in the Central Business District's landmark CapitaGreen office tower. Validus' other offices are located across the UK, US, Canada, and Norway. Kevin Lester, CEO of Validus Risk Management, said: 'This is an opportune moment for us to cement our presence in APAC, and bringing Shawn onboard aligns perfectly with our growth ambitions for the company. The opening of a Singapore office marks another milestone, further bolstering our ability to support clients, not only at a regional level, but on a global scale.' Haakon Blakstad, CCO of Validus Risk Management, added: 'We're delighted to welcome Shawn to the Validus team. The addition of his expertise and leadership greatly enhances our existing capabilities in APAC and we look forward to working together to support our growth strategy for the region.' In February 2025, Validus announced that it had secured a $45 million growth equity investment from FTV Capital. In addition to supporting the company's continued expansion into the APAC, US and European markets, the investment will enable Validus to accelerate its go-to-market efforts and invest in technology and product innovation.
Business Times
18-05-2025
- Business
- Business Times
GXS' acquisition of Validus' Singapore business a sign of market validation
[SINGAPORE] The recent acquisition of small and medium enterprise (SME) lender Validus' Singapore business is a sign of market consolidation and validation in South-east Asia. To recap, GXS Bank acquired Validus' Singapore business on Apr 14 for an undisclosed amount. This expands the digital bank's SME offerings to include Validus' trade financing and working capital loan expertise and customer base in Singapore. Competitor Funding Societies sees Validus' acquisition as a positive, with market consolidation having reduced the pie to a few notable players. This is also a sign of market validation as well, said Kelvin Teo, co-founder and CEO of Funding Societies. 'I think it's actually a very positive development in the market, and it also shows openness of banks, as well as validation towards fintechs and fintech players' existence,' he told The Business Times. The sale of the Singapore business is partly a reflection of the constraints that SME fintech lenders face in the island republic. Despite Validus and Funding Societies having access to the government's Enterprise Financing Scheme, in which Enterprise Singapore shares 50 per cent of the risk, both could not get local traditional banks to fund the loans on their platforms. Instead, Funding Societies and Validus had to rely on international banks to fund the SME loans of Singapore companies. There was more success in raising debt from international banks and funds than local banks, noted Teo. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up 'We got the big chunk of the supply from Citi Hong Kong, keeping that in mind we realised we would never be able to grow the business in Singapore to be as large and attractive as we wanted it to be,' said Nikhilesh Goel, co-founder and CEO of Validus. Even though Validus started out from Singapore, the other markets – Indonesia, Thailand and Vietnam – grew much faster. Singapore would only account for a minority of the overall loan book, with about 10 per cent of the monthly loan disbursals for the SME lender. Selling the Singapore business to a bank, where the cost of capital is lower due to the availability of deposits from customers made sense. But rather than sell it to a traditional bank, Validus had to wait for digital challenger banks to emerge. 'This business we felt would do more justice in the hands of a bank who had access to cheaper forms of capital, and could build on our partnerships, teams and models we had created…the big three had shown no inclination to partner or do anything,' said Goel. In any case, the acquisition has helped to bring SME lending platforms such as Funding Societies into the mainstream, said Teo. With digital banks entering the fray, market awareness for SME working capital or trade financing loans can only grow. Tariffs everywhere The impact from tariffs imposed by the US will vary across SMEs in the region, but both Validus and Funding Societies say that customers are still taking up loans from them. For Funding Societies, it has few customers with a direct business relationship with the US, with most having a domestic or regional focus. Other segments of customers would have already pre-planned shorter capital loans to operate and would not be as impacted. The customers looking to take loans for growth are the ones hesitating now amid the uncertain macroeconomic environment, leading to more of a delay than a stop in borrowing. 'The decision-making time becomes longer, they want to wait and see how things play out …the growth opportunity may change and therefore the financing needs change,' said Teo. For Validus, there is no direct impact, as the lender focuses on domestic businesses and their supply chains. These could be local conglomerates or regional companies and their suppliers and distributors, and has nothing to do with the export economy. There will be an indirect impact if tariffs stay, inducing a dampening effect on broader spending in the economy. Validus is exposed to what the middle class is consuming, for instance in Indonesia, the focus sectors are food and beverage, fast moving consumer goods and pharmaceuticals. 'We believe that if we stick to sectors that are consumer staples and non-discretionaries, these kinds of headwinds will always come and pass, if you think about it, this is not the first challenge, there was Covid, the market crash in 2022, then interest rate hikes,' said Goel. Both Funding Societies and Validus will be putting their heads down and working hard on their businesses for the coming year. Funding Societies is planning to steadily grow their loan book across all their markets, as well as the new payments arm into new markets such as Malaysia and Indonesia. The SME lending platform is also looking to diversify funding to be more resilient. 'Really diversifying our funding sources by working with digital banks and other fund partners…the one positive effect of the tariffs is that central banks are looking to cut interest rates, how can we take advantage of that to diversify and lower our cost of funding,' said Teo. Validus on the other hand is working to turn profitable in these turbulent times, after turning operationally profitable in 2024. 'We want to deliver our first year of profits, because if we can do that we would be among the very few tech companies in the region that are actually delivering cash flow…and it would deliver a statement,' said Goel.
