Old Faces, New places!

In these difficult times we are happy to report some good news as good friends have found new opportunities. Carl Rasmussen is now with Cambridge Global Capital Partners. And two stalwart Fortis Capital employees, Tobias Backer and Evan Uhlick have landed at ICON Capital Corporation and DnB NOR respectively. Good luck to all.

SQN Capital to Close New $15 million Fund

SQN Capital launched a new $15 million fund last month and is preparing for its first closing. The equipment leasing fund, called SQN Alternative Investment Fund I, is currently seeking investments in the marine, energy and environmental space, while it also invests in the technology, medical and module housing sectors. As far as marine activities, SQN has a particular interest in Jones Act vessels and oil field services companies.

The firm recently closed on the sale of a vessel from Louisiana to Seattle interests for two million, but has done transactions as large as the $72 million sale of a 75% interest in a Lafayette, LA-based offshore supply vessel company. In addition to investment activities, SQN Capital Corporation is currently managing a dry bulk carrier placement, arranging equity finance for a sub-sea excavation company, and is seeking about $40 million of debt for a European ferry transaction in which the equity is already in place.

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