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May 13, 1998
- For Immediate Release
Los Angeles, CA - GFI Energy Ventures LLC today announced
the formation of GFI Caminus, a new enterprise that will provide comprehensive
consulting services and software technology to the booming power and gas
trading industry. GFI Energy Ventures LLC originates and leads investments
in businesses benefiting from and facilitating the deregulation, competition,
and technological change in the energy industry worldwide.
GFI Caminus has been formed through acquisitions and strategic partnerships
involving four leading companies in the fields of energy and investment
management. As a result of these acquisitions and alliances, the new enterprise
has the combined resources to help electric and gas utilities, power marketers,
transporters and producers, bankers and market makers, and large energy
consumers analyze and manage power and natural gas transactions and related
risks.
"The consensus of industry experts and regulators is that there will be
at least $750 billion in annual retail power transactions in the United
States by the year 2000, with three times that range on a worldwide basis,"
said Lawrence Gilson, President of GFI Energy Ventures. "Until now, no
single entity had the products, the industry expertise, the geographic
reach, and the financial backing to support the transactions in this huge
new market."
GFI Caminus has made a substantial investment, and acquired a majority
interest in ZAI*NET Software, L.P., a leading developer and provider of
energy and financial trading and risk management software for use across
global markets. The company provides integrated front, middle and back
office trading functionality for energy (power, natural gas, crude and
refined products) physicals and derivatives, and foreign exchange. Clients
include leading energy producers/refiners, utilities, banks, brokerages
and corporates. Founded in 1987, ZSI maintains offices in New York, Houston,
London and Singapore.
GFI Caminus has also acquired Caminus Energy Limited, the Cambridge, England-based
energy strategy firm that has played a leading role in pioneering privatization
and deregulation of the UK gas and electric markets. Caminus Energy is
expert in anticipating the dynamics of increasingly competitive markets
and the impact of those dynamics on market price, financial risk, and
strategic and operational decision making. For over 10 years, Caminus
Energy has advised many of the largest UK participants in the development
of the gas and power markets. Caminus Energy is a principal advisor to
both the gas and electric regulators in the UK on the development of the
competitive wholesale energy markets and their growing interaction. Caminus
Energy has also been in demand in the developing markets in continental
Europe. Its clients include The Energy Group (which includes Eastern Electricity,
the largest UK Regional Electric Company), British Gas, Union Fenosa (Spain),
Bord Gais (Ireland), Edison Mission Energy, Scottish Nuclear, and Statoil
(Norway), among others.
GFI Caminus has also formed an alliance with SS&C Technologies, Inc. (NASDAQ:
SSNC). With offices in the U.S., Canada, Europe, and Asia, SS&C is a leading
provider of financial software solutions, services, and expertise to asset
managers worldwide. SS&C primarily targets its products and services to
large-scale, sophisticated investment enterprises who use its trading,
accounting, reporting, and analysis solutions to manage, in aggregate,
more than $1.5 trillion in assets. SS&C is an investor and part owner
in GFI Caminus. SS&C has granted GFI an exclusive license to market its
software products in the energy market worldwide.
In addition to GFI Energy Ventures and SS&C, the investors in GFI Caminus
include Oaktree Capital Management (a Los Angeles-based investment firm
with over $10.5 billion under management) which is the lead investor,
RIT Capital Partners plc (the publicly traded, London-based investment
company chaired by Lord Rothschild), and the principals of Caminus Energy.
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