REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 26, 2023
MRI Software is reinforcing its commitment to Diversity, Equity, and Inclusion (DEI) with a new strategy that puts the company at the forefront of DEI action in the PropTech sector. This follows the company's Chief Executive Officer Patrick Ghilani committing to a broader CEO initiative aimed at championing such efforts in the workplace. In supporting CEO Action for Diversity & InclusionTM, Ghilani joined over 2,000 CEOs pledging to take action to cultivate a workplace where diverse perspectives and experiences are welcomed, respected and openly discussed.
"Our desire is that DEI isn't just something we do as part of our culture, but rather it is our culture," says Ghilani. "MRI will continue fostering a work environment where employees of every background can freely address challenges, present opportunities and share perspectives, as it strengthens our business and drives innovation."
To help MRI attract and retain team members who identify with a wide range of diverse, often underrepresented communities such as women, people of color, and LGBTQIA+, the company has announced a number of Employee Resource Groups (ERG). The first, the Women and Allies group, was formed last year, while an LGBTQIA+ group, PRISM (Pride, Respect, Inclusion, Support at MRI), is being launched this month – with two other groups representing unique communities within the company in the process of being formed.
Susan Avelluto, MRI's Chief People Officer, says: "Creating a true culture of inclusion and belonging and investing in people and communities that strengthen MRI as a workplace is critical to our ongoing success as a business. Our Employee Resource Groups, called Pride Resource Groups internally, support the company's broader DEI strategy, providing an avenue through which MRI can connect with audiences from each group's demographic – whether from a workplace standpoint or an external community and market-outreach perspective."
These groups help the company address four pillars at the heart of its DEI strategy: People, Culture, Community, and Marketplace:
People - underscores MRI's aim to attract, develop, engage, and retain a rich diversity within the members of its global team
Culture - speaks to the need to understand, connect with and create a sense of belonging with all groups of people
Community – promotes volunteerism and financial investment across a broad range of different external communities
Marketplace - enables MRI to build a more inclusive employment brand and solution offering
Carol Lewis, MRI's Vice President of DEI, says: "Making sure we're listening to the voices of every community and leveraging their insights to create a better working environment – as well as products and services that resonate across more audiences – is crucial to helping us sustain a diverse and inclusive business. We are dedicated to transforming lives. We're invested in DEI because this is what connects the world—where people live, work and play— in a more meaningful way."
MRI has also formed strategic corporate partnerships with groups that give marginalized or underserved communities opportunities they normally would not have. These include Coding Black Females (empowering and mentoring this community), AnitaB.org (supporting women and non-binary technologists), Women in Technology International (WITI), INROADS (serving unrepresented and underserved youth) and Steel City Codes (a high school student-led non-profit educating elementary and middle-school pupils on computer science).
Ghilani concludes: "Our initiatives over the last few years and our focus to further improve in this area are not just singular, programmatic actions. They're indicative of our unwavering commitment to cultivating a true sense of belonging."
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realize their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 06, 2023
Nuvolo, the world's fastest-growing workplace software company, announced its Real Estate Transaction Management application as part of their Sweden Release. With the addition of this application, Nuvolo Connected Workplace is the only solution on the market that is fully equipped to manage the entire lifecycle of both leased and owned properties on the same platform.
Real Estate Transaction Management seamlessly connects with the existing Real Estate Asset Management and Portfolio Management applications to provide users with an integrated experience when managing their properties. Organizations will be able to
Centralize all portfolio and property information
Create and manage real estate Initiatives based on company-wide strategy
Execute real estate transactions from start to finish
Track critical dates and manage payments
Ensure ASC 842 and IFRS 16 compliance
Analyze portfolio health based on costs and actual space utilization
"An organization's Real Estate Portfolio is typically one of its most valuable assets, and one of its largest expenses. Our clients require a solution to proactively manage their portfolio to ensure they can balance supply and demand, as well as provide a compelling work environment for their team members," said Chief Product Officer, Jim Wilton. "The release of our Real Estate product provides a truly integrated solution on a single platform. This gives our clients the ability to connect their real estate strategy with their organization's overall strategy."
This new application is part of Nuvolo's standard release cycle, which also includes several new capabilities and user experience improvements across all product lines. Nuvolo is dedicated to providing customers with continual value and has invested additional resources to accelerate specific projects. These will be available in an off-cycle release (Sweden+) scheduled for Summer 2023.
About Nuvolo
Nuvolo is the global leader in modern connected workplace solutions, built on ServiceNow. Nuvolo provides a single platform to manage all people, physical locations, assets, and work across the business. Industries served include healthcare, life sciences, retail, public sector, higher education, technology, financial services, and enterprise. Nuvolo is headquartered in Wellesley, M.A., with a workforce located throughout North America and Europe.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | April 12, 2023
Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce that it has entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities (“Assured-IM”), which conducts the institutional asset management business of Assured Guaranty Ltd. (together with its affiliates, “Assured Guaranty”). In connection with the strategic partnership, Assured Guaranty will become a significant equityholder of Sound Point and certain of Assured Guaranty’s U.S. insurance subsidiaries will commit to invest $1 billion over time in Sound Point managed vehicles and separately managed accounts. Sound Point will become the sole alternative credit manager for the Assured Guaranty U.S. insurance subsidiaries.
Sound Point will assume the management of 32 active Assured IM CLOs, comprising 25 US CLOs and seven European CLOs, making Sound Point the fifth largest broadly syndicated loan CLO manager globally on a pro forma basis. New York-based Sound Point is currently managing 39 CLOs of its own and also manages over $10 billion of assets in other areas of credit investing, including direct loans, capital solutions, distressed, structured products, commercial real estate lending, and specialty finance.
“This is a watershed event in Sound Point’s growth story, and it positions us for continued success in a business where scale has become increasingly important,” said Stephen Ketchum, Sound Point’s founder and Managing Partner. “It’s our largest transaction to date, and we’re extremely proud to be receiving a one-billion-dollar investment commitment over time from Assured Guaranty. We’re thrilled to be expanding our diversified platform through a powerful new partnership that will create immediate impact.”
The transaction is expected to be completed in the beginning of Q3 2023. As part of the acquisition, a significant number of employees from Assured-IM are expected to join Sound Point, both in New York and London.
Following this acquisition, Sound Point will take over the management of approximately $15.2 billion (as of December 31, 2022) in Assured-IM assets, predominantly across CLOs but also including structured asset-backed investments. Sound Point’s pro forma assets under management (AUM) are anticipated to total approximately $47 billion after consummation of the transaction.
“This acquisition further strengthens our platform and will allow Sound Point to leverage its already comprehensive firmwide infrastructure and investment teams,” said David Grill, Head of Strategy at Sound Point. “Assured Guaranty’s investment commitment will be allocated to Sound Point managed CLOs as well as a range of other credit strategies”.
The combination of Sound Point and Assured-IM’s technology and systems will further improve reporting capabilities and speed. The combined team will focus on continued excellence and tight operational controls, benefiting from each other’s existing processes and previous experience.
Sound Point will remain a privately held company, with Stephen Ketchum as Managing Partner and Chief Investment Officer and the firm’s controlling equityholder. Principals of Stone Point Capital LLC and Dyal Capital Partners will continue to be important members of Sound Point’s ownership group.
Assured-IM was formerly known as BlueMountain Capital Management, LLC. BlueMountain was acquired by Assured Guaranty on October 1, 2019, and subsequently rebranded as Assured Investment Management.
BofA Securities acted as financial advisor, and Pryor Cashman LLP and DLA Piper LLP acted as legal advisors, to Sound Point. Goldman Sachs & Co. LLC and Insurance Advisory Partners LLC served as financial advisors to Assured Guaranty and Mayer Brown LLP served as Assured Guaranty’s legal advisor.
About Sound Point Capital Management, LP
Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies. Based in New York, with offices in London, Florida and Connecticut, the firm manages money on behalf of institutional investors including top-tier pensions, foundations, insurance companies, wealth management firms and family offices. Sound Point's strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. Sound Point currently manages approximately $32 billion of assets. Five principals of Stone Point Capital LLC, as well as Dyal Capital Partners, a division of Blue Owl Capital Inc. [NYSE: OWL], are also strategic investors in our business. For more information, please visit Sound Point's website at www.soundpointcap.com.
About Assured Guaranty Ltd.
Assured Guaranty Ltd. is a publicly traded [NYSE: AGO], Bermuda-based holding company. Through its subsidiaries, Assured Guaranty provides credit enhancement products to the U.S. and international public finance, infrastructure and structured finance markets and also provides asset management services. More information on Assured Guaranty Ltd. and its subsidiaries can be found at AssuredGuaranty.com.
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