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The Private Equity Wire US Awards

Strong fund manager performance drives investor interest and loyalty, securing a competitive advantage and financial rewards alongside other benefits. Top performers also earn awards and recognition.

Private Equity Wire US Awards annually recognize excellence among private equity fund managers and service providers. As a recognized leader, Private Equity Wire has (for over a decade) identified and celebrated outstanding achievements in the field. The organization incorporates insights from multiple sources, including an allocator board, peer surveys, the expertise of the Private Equity Wire editorial team, and data analysis for its award process. Held in the US, the event doubles as an industry benchmark.

Candidates contest in various categories, primarily the Manager Awards and Service Provider Categories. The Manager Awards acknowledge North American-based single-manager and multi-manager funds with strong track records exceeding three years. These awards are based on annualized returns. The Service Provider Categories recognize excellence in services supporting the private equity sector, including accounting, auditing, cloud services, cybersecurity, and fund administration.

To determine award recipients, Prime Equity Wire analyzes annualized returns for one year, and nominations are based on reported performance during this time. Final awards recognize private equity companies that generated the highest returns for their investors. This assessment considers two key metrics: the annualized growth rate of investment (highest net internal rates of return, or IRRs) and the total cash return relative to the initial investment, termed the money multiple.

Service providers can submit nominations via a dedicated link, and managers may nominate preferred service providers. Nominations are free. Private Equity Wire notifies finalists of their shortlisting on a specific date, followed by a public announcement a few weeks later. Shortlisted managers receive a complimentary ticket to attend The Private Equity Wire US Awards ceremony. Winning managers and service providers can purchase extra tickets through winner's packages to accommodate colleagues, clients, or industry partners.

Prime Equity Wire’s advisory board comprises experienced individuals from diverse investment fields. Members include co-founders of capital advisory firms and investment partnerships, senior managing directors overseeing income strategies and environmental, social, and governance (ESG) issues, and portfolio managers from multi-asset groups.

Key players in the private equity sector have compelling reasons to participate, either as candidates or in the industry-wide voting process. Participants can gain insights into top-performing fund managers and service providers, while voters contribute to a collective understanding of excellence within the sector. Investors can identify top-performing general partner managers and top-rated service providers, improving investment strategy decisions. Meanwhile, fund managers leverage these awards to find high-quality service providers to support their investments. Service providers also benefit by assessing top-performing GPs and understanding their market position.

At the 2024 awards, Fund Finance Partners (FFP), a financial advisory firm specializing in fund finance, won the Best US Fund Financing Solution category. FFP's team of finance and asset management experts drives innovation in debt capital solutions for private and public fund sponsors. Fund managers have turned to FFP to optimize their funds' capital structures, gain in-depth market knowledge, and secure optimal terms and pricing for fund financing solutions, among other reasons.

FFP's win in the Best US Fund Financing Solution category also stems from its ability to enhance fund profitability. Instead of relying solely on existing relationships, FFP creates competition among lenders, leveraging its deep understanding of lender preferences, legal intricacies, and market dynamics. This approach, combined with expert management of lender and fund counsel, maintains focus, controls costs, and streamlines post-closing processes, easing administrative and financial burdens for fund sponsors.

Beyond recognition, the Private Equity Wire US Awards allow sector professionals to network. Businesses can maximize visibility through customized sponsorship packages, reaching influential industry leaders and decision-makers. Outside the US, Private Equity Wire hosts award ceremonies in Europe, including the Emerging Manager Awards.

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Key Challenges Firefighters Encounter

First responders, such as firefighters, regularly encounter unique and intense obstacles. The nature of their work can be extremely difficult, and coupled with factors such as pandemics and climate change, these challenges can be amplified.

While fire prevention measures have improved, these professionals still grapple with surges in call volumes. When emergencies occur back-to-back, the workload increases significantly, requiring additional resources and personnel. This strain is particularly severe for departments with limited staff and tight budgets. Compounding the issue is aging fire trucks and equipment, which are more prone to breakdowns during consecutive emergency calls.

The scale and complexity of incidents can also exceed the operational capacity of fire departments. The western US, for instance, has seen an unprecedented increase in wildfire frequency and intensity, often necessitating multi-jurisdictional responses.

Financial constraints and personnel retention also present challenges. Most fire departments rely on government budgets and local taxes, making them vulnerable to budget cuts that can impair staffing and training. Low pay and demanding schedules exacerbate these issues. A 2021 report showed only 25 percent of the 1.2 million firefighters in the US are fully employed, while two-thirds of all firefighters are volunteers. This heavy reliance on volunteers can lead to inconsistent availability, impacting response times and effectiveness.

Coordinating multi-agency responses during large-scale emergencies can also be problematic. Delays in supplementary assistance can exacerbate injuries and losses. Fire chiefs face additional hurdles when communication systems between different agencies are incompatible. Differing protocols and command structures between agencies can further complicate joint operations. Further, coordinating volunteer efforts frequently leads to personnel shortages, as volunteer firefighters may be unable to leave their regular employment during normal working hours when a fire occurs.

Firefighters risk their lives regularly to serve others. They interact with hazards such as exposure to dangerous chemicals and extreme heat, leading to immediate injuries and long-term health issues. Unexpected dangers are also common, as exemplified by one incident where a routine response to a small fire following a tractor-trailer accident resulted in an explosion that killed one firefighter and severely injured another.

Moreover, repeated exposure to traumatic experiences such as injuries, death, and destruction can take a significant psychological toll on these workers. While most training emphasizes practical skills, mental health support remains inadequate in many departments due to limited resources. Lack of support and the stigma surrounding mental health problems cause some firefighters to internalize their stress instead of seeking help. Eventually, overwhelming emotions may lead to depression, suicidal ideation, and other issues. Even though wanting to help, some department leaders lack the means to care for the mental health needs of their personnel.

While technology has enhanced this profession, such as through virtual training simulations for recruits and existing staff, it has also introduced new challenges. For example, electric vehicles and lithium-ion batteries have created new types of fires that are challenging to extinguish. These changes demand updates to firefighting training programs to cover not only traditional fire behavior, but also the new dynamics associated with modern materials and technologies. Moreover, it requires integrating revolutionary equipment like drones to help combat emerging hazards.

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The Work of Fire Paramedics

Emergencies are unpredictable, making rapid response crucial to managing situations and saving lives. In 2019 alone, nearly 27 million incident runs and calls occurred in the US, with emergency medical services (EMS) calls comprising over two-thirds of these responses. Fire paramedics provide lifeline support during such events.

The primary responsibility of these professionals is to provide advanced life support (ALS). They tackle fires in various settings, from homes and businesses to transportation hubs, employing specialized techniques, and considering each scenario’s unique requirements. For instance, while fires involving paper or wood may necessitate water suppression, flammable liquids require foam or specialized agents. During emergencies, fire paramedics prioritize saving lives before protecting property from damage.

Beyond fire suppression, fire paramedics offer critical medical care to those affected. Their training encompasses vital stabilization techniques, such as resuscitation, using automated external defibrillators to restore heart rhythm for patients without a pulse, and controlling bleeding. The response often begins by assessing the person’s condition and vital signs and determining injury severity to guide appropriate medical interventions. Upon stabilization, fire paramedics coordinate with ambulatory services to transport the injured person to a hospital for comprehensive care.

These professionals also fulfill crucial non-emergency roles, such as inspecting and maintaining fire equipment and apparatus before and following operations. They ensure equipment remains in optimal working condition by testing and adjusting various components (such as pump controls and water pressure) to maintain operational readiness. Additionally, fire paramedics conduct fire safety inspections at various structures to ensure compliance with fire codes and identify and mitigate potential hazards.

Recognizing the significance of fast response in dealing with emergencies, these professionals consider public education crucial to their work. They instruct civilians on fire suppression techniques and operating fire alarms and help families practice how to escape their homes should a fire occur. Fire paramedics lead training sessions and fire drills in schools, workplaces, and other institutions, familiarizing people with evacuation procedures and enhancing safety awareness and preparedness. At times, fire paramedics may mobilize the community to help raise funds to support local health initiatives.

Given the high-risk nature of their work, fire paramedics require specialized training integrating medical and fire-related skills. Aspiring fire paramedics must obtain EMT-Paramedic certification through state-approved programs, mastering basics such as emergency medical rescue techniques and equipment usage. Complementing this education is on-the-job training, which covers areas like emergency vehicle operation, fire law comprehension, and physically demanding rescue work. Training on how to respond to complex emergencies, such as those involving multiple casualties, is also integral. As part of these inspections, they may also train building owners and occupants on proper fire safety protocols and emergency procedures.

In addition to training, certain personal attributes contribute to an individual's effectiveness as a fire paramedic. Key qualities include a passion for continuous learning, natural leadership abilities, and the capacity to remain calm under pressure. Critical thinking and sound judgment can help a fire paramedic navigate dynamic emergency scenarios effectively. Equally important is adhering to protocols while remaining receptive to guidance and adjusting to evolving situations.

Well-being is crucial for a fire paramedic to perform optimally. The profession's inherent exposure to trauma and high-stress incidents can lead to emotional strain and burnout. Situations may also arise where these professionals face danger from some rogue public members, as exemplified by an incident where an unresponsive driver woke up, fired at paramedics, and stole their vehicle. To address such challenges, organizations should be attentive to individual needs, seek support and assistance from external entities or services when necessary, and implement comprehensive safety protocols, such as training in de-escalation techniques and situational awareness.

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Understanding Hoses for Fighting Fires

Fire hoses are a critical element of firefighting and are used for transporting water, foam, and other types of flame retardant under high pressure. Hoses are connected to water pumps or fire trucks in outdoor settings, or are permanently connected to plumbing or standpipe systems indoors. Operational pressures are typically in the eight to 20 bar (116 to 290 psi) range, and most are rated to withstand burst pressures up to 72 bar (1036 psi).

Fire hoses are made up of a jacket and lining, with the jacket being either single- or multi-layered and crafted of materials such as plain or twill-woven high-tenacity polyester silk and polyester staple fiber, or nylon. The coating tends to be a material that boosts durability and strength, such as PVC or rubber. The outer layer is able to withstand both UV light exposure and abrasion, while the inner layer is designed for compatibility with the substance it carries. Traditional hoses are primarily made of rubber, and are heavier and have less heat resistance.

Hose diameters are commonly in the 3/4-inch to six-inch range, and those with diameters of more than 3.5 inches are called supply hoses. These are employed in transporting water at high pressure and high volume from a source such as a fire hydrant to the fire engine’s pump (or another forward position).

By contrast, hoses with smaller diameters are known as attack hoses. These are designed for easy carrying and maneuvering into place by firefighters, and are used to directly spray fires with high-pressure liquids. Hose lengths range from 30 to 50 meters, which provides sufficient reach for operations such as entering into structures or traversing extensive distances.

Thick-walled and covered in rubber, booster hoses are smaller 3/4- to one-inch-diameter hoses that retain the round cross-section form, even when not under pressure. They are not stored flat, but rather carried on a reel connected to the fire pumper, and are used for mop-up operations and fighting small fires.

When not in use, fire hoses are rolled for transport and storage, with the most common technique on fire trucks being the straight role. The hose is laid flat, with the male end that connects with the water source rolled tightly and evenly toward the other end.

The donut roll is suited for situations where the firefighter carries the hose and deploys it from the roll. The hose is first folded in half, with the folded end rolled in the direction of the open ends. As the firefighter carries it, the hose unrolls into position. Larger hoses may require a twin donut roll, with both ends of the flat-laid hose rolled toward one another, creating a pair of side-by-side rolls. In cases where firefighters will be carrying hoses over their shoulders, they use a self-locking donut roll. This involves creating an extra loop of hose at the start, which functions as a carrying handle.

The horse shoe roll is advantageous for rapid deployment of larger hoses. In this roll, the hose is laid out flat, with the two ends folded toward the middle in a horseshoe shape. The folded ends are then rolled toward the horseshoe bend, which delivers a compact and easy way of handling the long and bulky hose.Fire hoses are a critical element of firefighting and are used for transporting water, foam, and other types of flame retardant under high pressure. Hoses are connected to water pumps or fire trucks in outdoor settings, or are permanently connected to plumbing or standpipe systems indoors. Operational pressures are typically in the eight to 20 bar (116 to 290 psi) range, and most are rated to withstand burst pressures up to 72 bar (1036 psi). Fire hoses are made up of a jacket and lining, with the jacket being either single- or multi-layered and crafted of materials such as plain or twill-woven high-tenacity polyester silk and polyester staple fiber, or nylon. The coating tends to be a material that boosts durability and strength, such as PVC or rubber. The outer layer is able to withstand both UV light exposure and abrasion, while the inner layer is designed for compatibility with the substance it carries. Traditional hoses are primarily made of rubber, and are heavier and have less heat resistance. Hose diameters are commonly in the 3/4-inch to six-inch range, and those with diameters of more than 3.5 inches are called supply hoses. These are employed in transporting water at high pressure and high volume from a source such as a fire hydrant to the fire engine’s pump (or another forward position). By contrast, hoses with smaller diameters are known as attack hoses. These are designed for easy carrying and maneuvering into place by firefighters, and are used to directly spray fires with high-pressure liquids. Hose lengths range from 30 to 50 meters, which provides sufficient reach for operations such as entering into structures or traversing extensive distances. Thick-walled and covered in rubber, booster hoses are smaller 3/4- to one-inch-diameter hoses that retain the round cross-section form, even when not under pressure. They are not stored flat, but rather carried on a reel connected to the fire pumper, and are used for mop-up operations and fighting small fires. When not in use, fire hoses are rolled for transport and storage, with the most common technique on fire trucks being the straight role. The hose is laid flat, with the male end that connects with the water source rolled tightly and evenly toward the other end. The donut roll is suited for situations where the firefighter carries the hose and deploys it from the roll. The hose is first folded in half, with the folded end rolled in the direction of the open ends. As the firefighter carries it, the hose unrolls into position. Larger hoses may require a twin donut roll, with both ends of the flat-laid hose rolled toward one another, creating a pair of side-by-side rolls. In cases where firefighters will be carrying hoses over their shoulders, they use a self-locking donut roll. This involves creating an extra loop of hose at the start, which functions as a carrying handle. The horse shoe roll is advantageous for rapid deployment of larger hoses. In this roll, the hose is laid out flat, with the two ends folded toward the middle in a horseshoe shape. The folded ends are then rolled toward the horseshoe bend, which delivers a compact and easy way of handling the long and bulky hose.

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Steps to Becoming a Firefighter

According to the National Fire Department Registry, the are more than 27,000 fire departments in the United States. These departments are staffed by over 1 million career and volunteer firefighters, with volunteers outnumbering career firefighters by about two to one. Individuals interested in a career as a firefighter must take several steps.

To start, individuals should be aware that firefighter requirements and regulations vary by location. Any license or certification an individual obtains during their career as a firefighter may not transfer between states. That said, the process of becoming a firefighter looks similar throughout the country.

First, individuals must satisfy a series of minimum requirements established by the state. These requirements establish a minimum age for firefighters, which is generally 18 or 21 years old. Other requirements range from proof of residency to some level of education. In addition to a high school diploma or equivalent degree, individuals must often complete training as emergency medical technicians before they begin training as firefighters.

A person must be in good physical condition to begin their firefighter training, which involves a series of challenging physical ability tests. The physical demands placed on career firefighters are often extreme. In addition to exceptional strength and endurance, they must possess an excellent sense of balance. On any given call, a firefighter may be required to carry unconscious adults, climb multiple levels of stairs while shouldering heavy equipment, or kick down doors and other obstructions. These actions must be completed quickly and are often done on uneven or unstable footing.

Even if a person has a strong physical foundation, the average person will need to train extensively in preparation for the Candidate Physical Ability Test (CPAT). Designed by the International Association of Fire Fighters, CPAT is the most commonly implemented physical test used by municipal fire departments to gauge the fitness of potential firefighters.

The CPAT begins with a stair climb, which involves climbing 60 steps per minute for three consecutive minutes. Next, individuals must drag a fire hose, which can weigh up to 50 pounds, more than 100 feet. The hose drag forces aspiring firefighters to make sharp turns while dragging the hose and to carry the hose while in a kneeling position. The CPAT exam also includes a ladder raise and extension challenge, using a sledgehammer to force open an entryway, and a search and rescue event involving a 165-pound mannequin.

The CPAT culminates in a ceiling breach and pull challenge. Individuals begin by removing a pole from a bracket and situating it against a door frame built into a ceiling. They must use the pike to open the 60-pound hinged door three times, then use the pole to pull down an 80-pound ceiling fixture five times. Three pushes and five pulls make up a single set, and candidates must complete four sets. The entire CPAT must be completed in 10 minutes and 20 seconds. It should be noted that aspiring firefighters must wear a 50-pound vest for the duration of the CPAT, plus an additional 25 pounds during the stair climb.

Firefighters must also complete a written exam that tests practical knowledge of fire safety and awareness, as well as their fitness for a civil service role. Written exams feature questions about state laws and ethical challenges. Finally, firefighters must pass a standard background check and screening process. Upon receiving a conditional job offer, individuals may undergo medical tests and additional physical fitness testing.

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Guatemala Receives Global Assistance to Address Wildfires

News accounts of fires burning across the highlands of Guatemala appeared in the international press. By May 2024, data reported that these fires had spread across approximately 157.5 square miles (40,802 hectares) of land. The international community responded through Central American Bank for Economic Integration (CABEI) funding, among other measures, to assist Guatemalans.

The government recorded 2,363 fires throughout the country. Beginning in February 2024, fires burned across the Guatemalan forested landscape in Siete Orejas, a volcano that has not erupted for thousands of years. Another raging wildfire broke out at the Agua Volcano, again destroying hundreds of acres of forests surrounding the volcano. Other areas the fires impacted were Huehuetenango, Quiche, Sacatepéquez, Sololá, Suchitepéquez, Totonicapán, El Progreso, Baja Verapaz, Alta Verapaz, Chimaltenango, and Zacapa.

Wildfire season in Guatemala typically lasts three months, beginning in February. Researchers have yet to know why these fires break out throughout the country. However, some believe that the root causes are related to farmers clearing the land to grow new crops. Because rainfall decreases during the dry season, these fires spread into the forests to become great conflagrations. An April 2024 AP News report stated that 80 percent of the forest fires that spread this season stemmed from farmers clearing the land.

By April 2024, President Bernardo Arevalo declared a natural disaster after forest fires climbed to 44. Wildfires cleared the land, damaging the plants and animals in these areas. Further, the fires in Siete Orejas destroyed plant species native to the area, including the "pinabete" commonly called the Guatemalan fir. It affected these natural ecosystems, and authorities in three of the country's central provinces canceled classes after smoke covered the area. One of the largest fires was near a suburb of Guatemala City.

In response to these fires, which have caused the president to make this declaration, the international community is offering its assistance through funding and manpower. In April 2024, the Central American Bank for Economic Integration (CABEI) provided the Guatemalan government with $78,848 to assist with helping the country during this emergency, more specifically to help them devise solutions that might control the spread of these fires. By this time, the alert code had been orange, signaling the phenomenon had reached crisis levels. The situation had become so critical after winds and topographical conditions exacerbated the problem.

In June 2024, CABEI added another $100,000 to the funding in April, increasing the total to $178,848. With the support of the United Nations Development Program, the Guatemalan government will use this funding to implement aerial firefighting strategies and other measures to contain the spread of these fires and minimize fire impact on communities. Guatemala is one of CABEI's founding countries, which is one reason the organization has given its support in the country's time of need. In 2024, the Guatemalan National Coordination for Disaster Reduction (CONRED) deployed land and air operations to fight, contain, and stop the spread of wildfires to safeguard natural resources.

Finally, before this year's wildfire season, the US and Guatemalan governments joined forces to prepare for natural disasters, including wildfires. In June 2022, US Agency Joint Task Force-Bravo, CONRED, and representatives from the Guatemalan military trained to prepare for crises like this year's wildfires. On June 8-9, the three groups held exercises to prepare for humanitarian and disaster relief events. While the exercise focused on weather-related events, CONRED used some of this training to galvanize departmental governments, municipalities, and community organizations to deal with wildfires. During the June 2022 training, CONRED teams faced different situations that might impact the outcome of a scenario. They also discussed lessons from past emergencies, which became helpful during the 2024 wildfire season.