Talos Energy is an offshore gas and oil producer in Houston. The company’s merger with Stone Energy out of Louisiana on Thursday has also made them a public company. The merger was worth almost $2 billion. A much bigger offshore energy player has been created through the deal. The focus is on the Mexican and United States sides of the Gulf of Mexico. Talos Energy is a privately backed company who went public. This became possible due to the controlling interest acquired in Stone. Instead of filing for a public offering, Stone had the advantage of already being publicly traded. Talos Energy officially began trading under the TALO ticker on the New York Stock Exchange.
Tim Duncan serves Talos Energy as the Chief Executive. He stated the deal was a transformational combination. The backers of Talos Energy currently own 63 percent of the company after the merger. The shareholders of Stone received a total of 37 percent. Tim Duncan made an announcement discussing the asset portfolio of the company. He said they were in an excellent position to capitalize on the capital focused returns programs and high quality assets for both offshore Mexico and the United States Gulf of Mexico. He also believes they can take advantage of opportunities offering the potential for business development.
Six years ago Talos Energy was founded with a focus on the Gulf. Major private equity firms provided the financial backing including Riverstone Holdings and Apollo Global Management. The goal was to use an IPO in either 2014 or 2015 to take Talos public. These plans were jeopardized due to the subsequent oil bust until recently. Last summer Talos Energy struck it big with the offshore Mexico Zama discovery. This happened after the company was successful in winning several of the first bids for offshore. Along with others partners in the energy reform process of Mexico, foreign investors received access to offshore blocks. The first significant discovery in the deregulation process of the country was Zama.
Stone Energy Company has been based from Lafayette for over two decades. The oil price collapse forced them to file for bankruptcy protection during 2016. They did emerge last year.
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George Soros, billionaire philanthropist and founder of Open Society Foundation, has transformed Open Society to the second-biggest charity organization in the United States – behind Bill and Melinda Gates Foundation – with a single donation of $18 billion. This move transformed both the philanthropic group and the firm that supplies its wealth. Open Society Foundation now holds the bulk of Mr. Soros’s fortune which has moved it to the top tier of philanthropic organizations. It is currently the second largest in the U.S right after the Bill and Melinda
The 87-year-old founder of Soros Fund Management LLC now shares influence over the firm with an Open Society investment committee. Even though the committee and its chairman were set up by Mr. Soros, the committee was meant to survive him those close to him have said. The new chief investment officer at the Soros organization is more an allocator of capital (to the different external and internal asset managers) than a trader. Unlike past investment chiefs, this new Chief Investment Official doesn’t have to report to Mr. Soros or anyone else at the firm, He reports only to the investment committee.
Sources close to Mr. Soros also say he has no plans to trade the billions now belonging to Open Society. Since he bet (wrongly) that stock prices would drop after Donald Trump was elected as President, Mr. Soros has been doing trade using his own money, held in a separate account within the firm. Although Soros Fund Management, the $26 billion organization was a pioneer hedge fund corporation, it became a family office several years ago after returning the money to outside investors. A family office is a type of office structure with growing popularity among wealthy families and is mostly free of regulations.
Mr. Soros began his philanthropic activities in 1979 when he stepped up to be an active voice in the fight against communism across Eastern Europe. In 1984, he set up a foundation in his birth country, Hungary. The goal of the foundation was to break the government’s hold on information by distributing photocopiers to libraries and universities. Mr. Soros grew up under communism as well as a Nazi-occupied Hungary, and because of that, he hoped to foster an “open society” in places where authoritarian governments reigned. His foundation was named after a book by his teacher (a defender of liberal democracies) Karl Popper.
Today Open Society has a comprehensive mandate that is mostly driven by the values of its founder. It operates in countries like Afghanistan to South Africa through a network of more than 40 offices and foundations. Open Society has funded public health efforts, programs, refugee relief, and even a mobile court to help solve gender crimes in the DRC (Democratic Republic of Congo). Open Society also advocates for rights for the Roma, one of the largest ethnic minorities in Europe.
The foundation’s activities have often angered nationalist government such as the one currently in power in Hungary. Mr. Soros regularly urges developed countries in Europe and across the globe to assist in relieving the burden of increased migration from areas of conflicts.
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When it comes to aspects of management capital, some names always come up due to their incredible work in this field; Sahm Adrang is one of such names. He is the founder of Kerrisdale Capital Management and is also the Chief Investment Officer of the organization. Sahm has been involved in the running and management of this firm since the year it was founded, 2009, and he has also been in charge of its development. The firm is best recognized for publishing research and short selling, in which his firm provides information regarding stocks that seem to confuse the market; for instance, issues regarding overhyped shorts and under-followed longs.
Sahm Adrangi first came into the limelight when he exposed some fraudulent companies in the year 2010 and 2011. The firms he exposed became subject to disciplinary actions by the Exchange and Securities Commission. While his firm provides research information on a wide range of industries and companies, in the recent years, he has mobilized resources of his firm in few specific sectors where the firm has really gained expertise. One of such sectors includes biotechnology, in which his firm has published some research regarding development stage companies such as Sage Therapeutics, Pulse Biosciences and many others. Moreover, his firm has also specialized in the mining sector whereby Adrangi has researched valuations in the mining industries. Finally, Sahm Adrangi has specialized in the telecommunication sector. He has published research regarding numerous aspects such as Dish Network as well as Globalstar.
Apart from publishing research, Sahm Adrangi also performs activist roles when it comes to investment. In the year 2013, he engaged with Lindsay Corporation management to enable the firm in optimizing capital allocations as well as cash deployment policies.
Kerrisdale Capital Management has been very successful in the recent years due to the recent access to capital. The firm received capital amounting to $100 million from its investors to bet in the market against a single stock. The investment funds of this firm appear to be unique in the market. Unlike other investment firms, this firm wants to use its fund to short the stock as it nears being unveiled as a public company.
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