A New Method for Solving the Initial Value Problem with Application to   Multiple Black Holes
  This work consists of two distinct parts. In the first part we present a new method for solving the initial value problem of general relativity. Given any spatial metric with a surface orthogonal Killing field and two freely specified components of the extrinsic curvature we solve for extrinsic curvature's remaining components. For the second part, after noting that initial data for the Kerr spacetime can be derived within our formalism we construct data for axisymmetric configurations of spinning black holes. Though our method is limited to axisymmetry, it offers an advantage over the Bowen-York proceedure that our data approach those for Kerr holes in the limit of large separations and in the close limit. 
John Baker and Raymond Stanley Puzio