People and Company News, Week of April 25, 2025
- Ashu Pal has been hired by Nomura Capital Management LLC, a wholly owned subsidiary of Nomura Holding America Inc., as head of portfolio management. Pal joined NCM in April and will focus on asset allocation and manager selection within private credit as a senior portfolio manager and team leader, actively supporting the firm’s ongoing growth initiatives in the Americas. Pal previously served as senior portfolio manager at the Maryland State Retirement and Pension System.
- Geng Ngarmboonanant has joined J.P. Morgan Asset Management’s multi-asset solutions business as a managing director specializing in global business and investment strategy. Geng reports to Zachary Page, head of multi-asset solutions for the Americas. Geng will also drive business strategy and product innovation as part of the business leadership team. He joins J.P. Morgan from the U.S. Department of the Treasury, where he served as Deputy Chief of Staff to Secretary Janet L. Yellen.
- Billy Goldstein has joined global investment bank Houlihan Lokey as a managing director in its technology group. Based in NY, Goldstein will expand the team’s efforts across the digital infrastructure marketplace. He joins following nearly five years as a partner and managing director at CDX Advisors, a tech-enhanced investment bank focused on TMT and mid-market growth companies. Prior to CDX, he was a managing director in the TMT group at Goldman Sachs and, subsequently, head of North American telecom merchant and investment banking for Macquarie Capital.
- Jay Martin has been hired by US Bank as president to lead Investment Services, a new division of its Global Fund Services and Global Corporate Trust teams. Martin leads a global team that offers customized services to middle market, large corporate, government and institutional clients, including fund administration, custody, investor servicing, trustee services and corporate escrow. Martin has led Global Fund Services since joining the bank in 2023. Prior to joining U.S. Bank, he spent time at Citco, where he was head of Operations within the Fund Services division, as well as Citi, SWIFT and Bank of New York Mellon.
- Jim Cowan has been named director of capital markets by Scottsdale, AZ-based multifamily firm MC Companies. Cowan will lead capital-raising efforts targeting a range of investors and oversee fundraising campaigns and investor relations. He brings over 30 years of experience, including two decades at Morgan Stanley Properties. He has also held leadership roles at Capital Trust and Tower Realty Trust. MC Cos. currently owns 7,000 units and has 1,260 more in development across Arizona, Texas and Nevada.
- CrossCountry Mortgage, a retail mortgage lender, and Blend, an origination platform for digital banking solutions, announced an expanded partnership aimed at driving innovation for independent mortgage banks (IMBs). As part of Blend’s initiative, the company has launched a dedicated business unit focused on delivering technology and support. Leading this effort is Justin Venhousen, a mortgage industry veteran and newly appointed general manager of Blend’s IMB division.
- AMG has announced a strategic partnership to acquire a minority equity stake in Verition Fund Management, a global multi-strategy investment firm managing $12.6B in assets. The transaction is expected to close in Q2 2025. Verition’s management, led by co-founders Nicholas Maounis and Josh Goldstein, will retain majority ownership and operational control. Both co-founders have committed to long-term agreements with the firm. The management team will make additional investments in the firm’s fund to maintain alignment with investors. Founded in 2008, Verition operates with approximately 150 portfolio management teams, focusing on uncorrelated strategies.
- Stone Ridge Holdings Group, a financial services firm focused on alternative asset management, reinsurance, and bitcoin, announced the acquisition of Wincoram Asset Management, a capital solutions provider to the physical and financial energy markets. This acquisition marks a significant milestone in the five-year joint venture between the two firms, in which they invested $7B in more than 10 GW of energy assets.
- Corscale Data Centers and Affinius Capital have announced a strategic partnership for Hyperscaler Development and Supply Exclusivity Agreement with e2Companies. Under the partnership, Corscale would become the exclusive hyperscale data center developer to offer use of e2’s R3Di System in the U.S. for an initial 24-month term. While there is no obligation for Corscale and Affinius to purchase a specific number, the partnership is targeted to initially include the use of over 300MW of e2 R3Di® systems to fulfill the energy needs of part of the Corscale hyperscale data center development project pipeline.
- Baker Tilly and Moss Adams have combined to create the sixth largest advisory CPA firm in the U.S. Expected to close in early June, the combination enhances its capabilities across advisory, tax and assurance services. Baker Tilly and Moss Adams will unite under the Baker Tilly name, forming a firm positioned to help middle-market businesses navigate the dealmaking environment. Baker Tilly CEO Jeff Ferro will lead the combined firm until his retirement, after which Moss Adams CEO Eric Miles will take over on January 1, 2026. Ferro will stay on as a board director.
- Templum, via its Templum One marketplace, is expanding its partnership with SoFi in launching a new class of the Cosmos Fund, offering exposure to shares of AI startup Anthropic. In 2024, the Cosmos Fund was 7x oversubscribed in just two weeks officials said as the fund offered holdings in SpaceX and the latest offering is expected to cater to demand for institutional-caliber investments among self-directed investors. The privately held Anthropic shares will be available until May 8.
- WealthFeed, an AI-powered platform for financial advisors, announced a strategic partnership with the Association of African American Financial Advisors (Quad-A), an organization dedicated to advancing African American financial professionals. The partnership will help members identify high-intent prospects, monitor life events that signal financial planning opportunities, and automate personalized outreach strategies.
- TDK Corporation announced that its corporate venture-capital subsidiary TDK Ventures, Inc. has launched Fund 3, a $150M commitment for deeptech startups. Building on Fund 1, Fund 2 and Fund EX1, this milestone increases TDK Ventures’ total assets under management to $500M. Fund 3 succeeds Fund 2 and will use the same strategy in targeting Seed to Series B early-stage startups.
- ROH, a payments management platform for the hospitality industry, announced the completion of a $9.2M financing round, led by Highgate Technology Ventures, a venture and growth equity firm focused on the hospitality and travel industries, and Acrew Capital. The investment will fuel ROH’s platform expansion and enhance its ability to process the flow of data from contracts, invoices, payments, folios, and beyond. As part of the transaction, Raja Goel and Kurien Jacob of HTV, and John Gardner of Acrew Capital are joining ROH’s Board of Directors.
- Trust & Will, a digital estate planning provider, announced a $4.5M investment from Curql. The investment is part of Trust & Will’s Series C round as the company expands access to estate planning for credit union members. With this addition, Trust & Will’s total Series C funding will exceed $32M. With this investment, the company is forming a Credit Union Service Organization (CUSO) – a structure widely embraced within the Curql ecosystem.
- SKY Leasing LLC, an alternative investment manager with extensive experience in aviation investments, held the final close of its flagship fund, SKY Fund VI, L.P., significantly above its target with over $1.35B. The fund will focus on providing capital solutions to airlines primarily through the sale-leaseback of new and current technology aircraft. To date, SFVI has committed over $600M of capital to acquire a fleet of 62 aircraft.
- InCred Alternative Investments Private Limited, part of InCred Capital Financial Services Limited, announced securing commitments over $70M in its maiden special situations credit fund, InCred Special Opportunities Fund-I. ISOF-I, a Category II Alternative Investment Fund (AIF), has a base size of $175M (including green shoe option of $60M) and is designed to deliver its investors a superior risk-adjusted return in a market-agnostic strategy, with regular distributions generating significant alpha.
