Cambridge Securities LLC
| Limited liability company | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | |
| Founder 👔 | Bjorn Q Aaserod |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Cambridge Securities LLC is a limited liability company registered in Delaware that operates as a financial services company. It is based in New York City and owns Cambridge Fund Management LLC and Cambridge Fund Management AS and other interests in the financial services business. Cambridge Securities is governed by its founder and CEO Bjorn Q Aaserod, its members and independent auditors. The CEO sets Cambridge Securities's business strategies and approves its compensation principles based on guidance from the compensation committee. The CEO also has the authority to create committees that delegate specific management functions.
Cambridge Securities has two divisions, Investment Banking and Fund Management. A Shared Services department provides support functions like risk management, legal, and marketing to all areas. Operations are divided into four regions: Europe, Africa, the Americas and Asia-Pacific. Cambridge Investment Banking handles financial structuring, investment research, and capital procurement within a range of asset classes. Cambridge Fund Management manages investment and from time to time invests in companies or partnerships structured by Cambridge Securities. It as well acts as Issuer through SPV’s for third parties.
History[edit]
Cambridge Securities, since its beginnings, had a consistent business model providing services to large scale financing for corporate and public clients within a wide spectrum of asset classes. Investment banking services and Fund Management services are in many cases combined, where Cambridge Securities in its ordinary cause of business structures the financing, issuing the debt through Cambridge Fund Management. Cambridge Securities’s SEC registered offerings for Chevron (California Petroleum and Golden State Petroleum)[1][2][3] and British Petroleum (Windsor Petroleum)[4] present good examples of Cambridge Securities’s business model. Cambridge Fund Management founded Navigator Gas Transport, NYSE – NVGS, as well.
Post Financial Crisis[edit]
Cambridge Securities added a restructuring advisory service practice after financial crisis when activity in asset backed financing slowed dramatically. It assisted Eitzen Gas, a Norwegian gas transportation shipping company, and its creditor to restructure and sell the company.[5] After this initial success, Cambridge Securities agreed to assist Lukoil in the restructuring of Getty Petroleum Inc, a US East Coast gasoline distribution company. Cambridge Securities established Cambridge Petroleum Holding Inc. to acquire Getty Petroleum.[6] The transaction required Lukoil to contribute more than $100 million in credit support to Getty Petroleum at and post-closing. Due to misrepresentations from Lukoil,[7] Mr. Aaserod as the Chairman and the CEO of Getty Petroleum had to file for Chapter 11 protection for Getty Petroleum in New York Southern District.[8] Mr. Aaserod continued to serve as Getty Petroleum’s Chairman and CEO throughout the Chapter 11 process and assisted the committee for unsecured creditors to sell off assets and wind down operation. Getty Petroleum was converted into a Chapter 11 liquidation trust in September 2012 after all operation and asset sell off had been concluded.[9] About 23 months after the conversion to the liquidation trust, the Trustee sued among others Cambridge Securities and Bjorn Q Aaserod.[10] The law suit was settled in bankruptcy court for a fraction of the claim and the D&O insurance covered much of the settlement.
Monitor Power Systems LLC[edit]
Cambridge Securities founded Monitor Power Solutions in 2014. It is a provider of environmentally friendly, sustainable power generation solutions that are vessel mounted (produces 100–750 MW) and trailer mounted (produces 12–41 MW). Monitor Power Systems signed a MOU with Cross River State, Nigeria to deliver 1 GW of power for a minimum of 15 years.[11]
References[edit]
- ↑ "MOODY'S RATE GOLDEN STATE PETROLEUM'S SERIAL FIRST MORTGAGE PREFERRED MORTGAGE NOTES AT Aa2". Moodys.com. 13 December 1996. Retrieved 7 November 2017.
- ↑ "MOODY'S ASSIGNS Aa2 TO SERIAL 1ST PFD MTGE NOTES AND A3 TO 1ST PFD MTGE NOTES OF CALIFORNIA PETROLEUM TRANSPORT CORPORATION". Moodys.com. 13 March 1995. Retrieved 7 November 2017.
- ↑ "MOODY'S ASSIGNS Baa3 TO FIRST PREFERRED MTGE NOTES OF OSLO SEISMIC SERVICES, INC". Moodys.com. 30 April 1996. Retrieved 7 November 2017.
- ↑ "MOODY'S RATES WINDSOR PETROLEUM'S SERIAL SECURED NOTES Aa2 and TERM SECURED NOTES Baa2". Moodys.com. 23 October 1997. Retrieved 7 November 2017.
- ↑ "JACCAR Holdings ventures into gas and dry bulk operating and owning through its Singapore-based Greenship Holdings - Evergas". Evergas. 27 May 2012. Retrieved 7 November 2017.
- ↑ "Lukoil Americas sells Getty Petroleum unit". washingtonpost.com. 3 March 2011. Retrieved 7 November 2017.
- ↑ "Lukoil to pay $93 million to settle Getty petroleum suit". www.worldoil.com. Retrieved 7 November 2017.
- ↑ "Getty Petroleum files for Ch 11 reorganization". Reuters. 2011. Retrieved 7 November 2017.
- ↑ "Judge OKs Getty Petroleum Liquidation Plan". CSP Daily News. Retrieved 7 November 2017.
- ↑ Brickley, Peg (10 December 2013). "Getty Petroleum Creditors Sue Former Owners for $6 Million". Wall Street Journal. Retrieved 7 November 2017.
- ↑ "Nigeria: Cross River State Signs $600M 750MW Floating Power Generation Station Deal with Monitor Power Solutions LLC. - Footprint to Africa". footprint2africa.com. Retrieved 7 November 2017.
External links[edit]
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