Morgan Creek names new MD

Morgan Creek Capital Management has hired Michael Forstl as a managing director and head of intermediary distribution. Forstl is a former senior vice president and head of independent and regional broker dealer distribution at ING Investment Management.

Semprius Inks $3M

Semprius Inc., a developer of high concentration photovoltaic solar modules, has closed on $3 million in venture funding. Morgan Creek Capital Management; Illinois Emerging Technologies Fund, which is managed by IllinoisVENTURES; and In-Q-Tel contributed to the investment round. IllinoisVENTURES and In-Q-Tel are existing shareholders in the company. Funding will help the company expedite construction of a pilot plant to produce high-efficiency, low-cost solar modules, the company said.

WL Ross, Others Put $1B into Diamond S Shipping

Investors including First Reserve Corp., WL Ross & Co., China Investment Corporation, Fairfax Financial Holdings, Morgan Creek Capital Management and PPM America Capital Partners are putting more than $600 million in equity into Diamond S Shipping, the company announced Monday. Additional debt funding will come from Nordea Bank Finland and DnB Nor Bank ASA. The money is being used to fund the acquisition of 30 medium-range refined product carriers to add to the company’s fleet of ten tankers under construction in Korean shipyards.

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