Monthly Archives: January 2019

DIF consortium reaches financial close on Liège Tram PPP

DIF

Schiphol, 31 January 2019 – DIF is pleased to announce that the Tram’Ardent consortium, comprising DIF Infrastructure V (80%), French civil construction firm Colas (10%) and Spanish rolling stock manufacturer Construcciones y Auxiliar de Ferrocarriles (CAF, 10%), has reached financial close on the Liège Tram PPP in Belgium.

This availability-based public-private partnership contract with Opérateur du Transport de Wallonie, the regional public transport company, involves the design, building, financing and maintenance of a tram line in the centre of Liège between Sclessin, Coronmeuse and Bressoux Station. It includes circa 12 km of rail track (of which over 3 km catenary-less), 21 stations, 20 trams, a maintenance depot, 2 park-and-ride facilities and improvements to the surrounding urban area. Construction will start immediately, with completion expected in the second half of 2022. Thereafter the consortium will maintain the project for circa 27 years, until 2050.

Total funding for the project amounts to €429 million, including long-term debt secured from the European Investment Bank (EIB), Belfius, BBVA, Natixis, AG Insurance and Talanx. The EIB will fund half of the term loan, totalling €193 million, backed by the European Fund for Strategic Investments (EFSI).

Managing Partner of DIF, Wim Blaasse, added: “DIF is exited to invest in this landmark project, which will benefit the community of Liège by increasing mobility whilst decreasing carbon emissions. It is the result of our strong relationship with both Colas and CAF, with each of whom we are successfully pursuing other opportunities around the globe.”

Advisers to the consortium are Natixis (financial), DLA Piper (legal), Loyens & Loeff (tax & accounting) and BDO (model audit). Advisors to the lenders are Loyens & Loeff (legal), Clifford Chance (EIB legal), Infrata (technical) and Aon (insurance).

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 110 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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Rovers Medical Devices Welcomes Smile Invest as Partner for its next phase of growth

Smile Invest announces today that it acquires a majority stake in Rovers Medical Devices (“Rovers”), global market leader in development and production of medical cell-sampling devices. The investment will facilitate the next phase of growth of the company with a focus on product development and leveraging the company’s global sales capabilities.

Rovers is a market leader in the development and production of medical devices used for cytological analysis, bacteriological-, HPV-, viral- and DNA testing. The devices are mainly used for screening of cervical cancer. From its headquarters and production facility in Oss, the Netherlands, Rovers supplies customers in over 50 countries worldwide. Its devices have been used to screen over half a billion women.

CEO and shareholder Meindert Zwart positioned the company as a key player in the market for medical cell-sampling devices. Rovers’ devices have consistently obtained excellent reviews in medical journals and are used together with testing kits from major medical technology companies. With its state-of-the-art production facilities Rovers is able to supply its customers globally while adhering to local regulatory requirements.

Meindert Zwart will stay on board and will reinvest alongside Smile Invest: “The arrival of Smile Invest as new investor offers us the possibility to strengthen our current market position and prepare the organization for further growth. Smile Invest’s expertise in the healthcare sector and access to successful medtech entrepreneurs is of huge value to Rovers.”

Ivo Vincente and Thomas Dewever, managing partners at Smile Invest add: “Rovers Medical Devices has positioned itself as a reference in its market. With the development of new self-sampling devices Rovers is able to tap into a promising market opportunity. Over 40% of women in developed countries are still not regularly being tested for cervical cancer. Rovers can play an important role in lowering the hurdle for screening in developed markets and could also provide medical professionals with tools to bring these tests to developing countries. We look forward to supporting Rovers in a new phase of growth.”

About Smile Invest:
Smile Invest is a European evergreen investment fund with €350 million of assets under management and a long term focus on innovative growth companies in the Benelux financed by around 40 entrepreneurial families. From its offices in Leuven and The Hague the team supports entrepreneurs and management to realise their growth plans based on many years of experience, expertise and an extended network.

Contact:

NL: Ivo Vincente, managing partner Smile Invest – ivo.vincente@smile-invest.com +31 70 76 30 151
Be: Thomas Dewever, managing partner Smile Invest – thomas.dewever@smile-invest.com +32 16 24 42 32

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Permira Partners with Hana Group to Support its Expansion

TA associates

TA Associates, which was the First Institutional Investor in Hana Group, to Exit

LONDON, PARIS, NEW YORK – Hana Group (“Hana” or “the Company”) has today announced that Permira, the global private equity firm, has entered into a definitive agreement whereby a company backed by the Permira funds will invest in Hana, in partnership with the founders and the management, who will substantially re-invest in the Company. The transaction sees TA Associates, which was the first institutional investor in Hana, exiting its investment.

Founded in 2012 by Laurent Boukobza and Jacques Attal, Hana is a global provider of freshly prepared sushi “on the go” through its 900 points of sale in grocery retailers across 12 markets. Its core geographies are the United States and France. In addition, Hana operates in the UK, Spain, Italy, Portugal, Belgium, Czech Republic, Romania and Luxembourg. The business now employs over 4,000 people globally. Hana Group is a strategic partner to its customers. It has grown rapidly over the last seven years through both organic and external growth, including the transformative acquisition of Peace Dining in the United States.

Yann Coleou, CEO, Hana Group, said: “The management team is very pleased to welcome the Permira funds as a new investor. This signals a new stage in Hana’s growth. I am confident that Permira’s involvement will be beneficial for our clients, customers and our team.”

Jacques Attal, founder of Hana Group, said: “TA Associates have been strong partners through the investment period. They have supported us strategically, which has enabled the Company to become a global leader, and also embedded a culture of innovation which lays a strong foundation for our partnership with Permira.”

Alexandre Margoline, Partner and Head of France at Permira said: “Jacques, Laurent and Yann have already developed Hana into a uniquely positioned business with global reach. We are very excited by the breadth of growth opportunities ahead, including new geographies, channels and clients. Leveraging its core capabilities across both B2B and B2C propositions, Hana is the perfect platform from which to build a global provider of freshly prepared meal solutions. We are looking forward to working with Yann and his team to support the next chapter in Hana’s growth and success.”

Tara Alhadeff, Principal in Permira’s Global Consumer Team, said: “Global demand for sushi is growing, driven by consumers’ demand for healthy and convenient meals. At the same time, retailers are looking to introduce more theatre and experience into their stores. With its in-store chefs preparing fresh sushi, Hana addresses both of these trends. We believe that Hana’s relentless focus on innovation, customer service and consumer experience, will continue to fuel growth and increasingly strategic collaboration with retail partners.”

Patrick Sader, Managing Director at TA Associates, added: “We are very pleased to have been able to help Hana Group in its international development. Our partnership with the founders of Hana Group is a perfect example of TA Associates’ investment philosophy. Hana Group is a unique business defined by the quality and diversity of its offering and its execution capacity worldwide. We would like to thank Hana Group’s founders and managers for their leadership, extreme focus on quality and innovation, and exceptional commitment, which today make Hana Group a leader in the premium food wholesale distribution sector.”

This transaction is expected to complete in Q2-2019.

Hana Group was advised by Rothschild and KPMG for the financial aspects and LATHAM & WATKINS for the legal aspects, and the Boston Consulting Group. Its managers are advised by McDermott, Gide and Callisto.

Permira was advised by Cambon Partners as advisory bank, McKinsey, Simon Kucher and Alix Partners for commercial diligence, Weil Gotshal & Manges for legal matters, Alvarez & Marsal for financial due diligence, PwC for tax and HR matters, and Linklaters for structuring.

About Hana Group
Founded in 2012, Hana Group (“Hana” or “HG”) is a global operator of in-store food kiosks in all retail formats and high traffic areas, offering ultra-fresh food on-the-go prepared by chefs in front of consumers, providing in-store entertainment and continuous product and concept innovation. Initially focused on sushi kiosks, Hana Group has developed other concepts, including pan-Asian food, as well as Italian and Mediterranean cuisines and operates under a portfolio of 14 brands. For more information visit http://hanagroup.eu/.

About Permira
Permira is a global investment firm that finds and backs successful businesses with growth ambition. Founded in Europe in 1985, the firm advises funds with a total committed capital of approximately €33 billion. The Permira funds make long-term control buyout investments and strategic minority investments in companies with the ambition of transforming their performance and driving sustainable growth. Over more than three decades, the Permira funds have made over 250 private equity investments in five key sectors: Consumer, Financial Services, Healthcare, Industrials and Technology.

The Permira funds have a long track record of successfully investing in consumer companies around the world and have deployed over €8.8bn in the sector since 1997. Investments in the food and food-related sectors have included Sushiro (Japan’s leading value sushi chain), BFY Foods, La Piadineria and Iglo Group. In France the Permira funds are also shareholders of Vacanceselect and Exclusive Group. Permira employs over 250 people in 14 offices across Europe, North America and Asia. For more information visit www.permira.com.

About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. For more information visit www.ta.com.

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ACM approves merger between BERGMAN CLINICS and NL HEALTHCARE CLINICS

NPM Capital

Specialised clinics offer superior care at competitive rates

The Netherlands Authority for Consumers & Markets green-lit the merger between Bergman Clinics and NL Healthcare Clinics (NLHCC) on 17 December 2018. With their specialised clinics, Bergman Clinics and NLHCC are leaders in the Netherlands in the medical disciplines of ophthalmology, orthopaedics, dermatology, plastic surgery and several other specific types of insured specialised medical care. The combined clinics seek to offer high-quality patient-centred care at competitive prices at facilities throughout the Netherlands. Following a transitional stage, the merged healthcare chains will start operating under the name Bergman Clinics. Newly appointed CEO Hans van der Heyden will assume office on the official completion of the merger of the two clinics in early January.

Once the merger is completed, the consolidated Bergman Clinics will be the market leader in treatments for health-insurance-covered hip, knee, shoulder, foot/ankle, back and eye conditions and plastic surgery procedures. The new Bergman Clinics also provides specialised care for skin conditions, gastrointestinal disorders, and pelvic floor dysfunction for women.

The new group will operate a 52-branch nationwide network of clinics with consolidated revenue of approximately €230 million and around 1,500 employees. The group expects to be able to create new jobs in the coming years by expanding existing clinics and opening new ones. The company also aims to drive innovation in the Dutch healthcare sector.

Discerning and selective clients

The merger comes at a time when Dutch consumers are becoming progressively more discerning and selective in their choices, and this certainly extends to medical services. Both patients and health insurance companies are increasingly prioritising proven quality of treatments, cost management, short waiting times and the overall quality of services provided. The specialised Bergman Clinics are able to provide high quality at competitive rates, which they combine with a client-focused approach, where service and client experience are vital.

Bergman Clinics will accommodate the group’s central support services at the Naarden site. Hans van der Heyden will chair the group’s Executive Board and head up the management team. For clients and referrers such as general practitioners, everything will remain unchanged in terms of day-to-day interaction with the clinics.

New Bergman Clinics CEO Hans van der Heyden is an experienced leader who previously held managerial positions at Procter & Gamble and other companies, as well as being a member of the global management of GrandVision. After being in charge of the Benelux market for eight years, he served as CEO of GrandVision USA, during which time he managed the integration of the For Eyes optical retail chain.

Current CEO Bart Malenstein will remain with the company as an Executive Board member for some time on completion of the merger, and both the Malenstein family and NL Healthcare Clinics shareholder NPM Capital – a subsidiary of family business SHV – will remain shareholders in the new company.

Current Bergman Clinics CEO Bert Malenstein: “We are ready to leverage the opportunities offered by this merger together. With our pooled resources, treatment teams will be able to focus their attention even more closely on their specialisation. There will also be more room to invest in technological innovation, digitalisation and training and education. When we first announced this merger back in September 2018, the feedback we received was very positive. It’s up to us now to prove that greater focus and the pooling of our resources lead to more efficient cost management and improved results. In appointing Hans van der Heyden, we have brought on board a strong leader who can add value through his experience, both in the integration process and in our objective to keep improving client experiences. Hans has worked with consumer brands for many years and is familiar with the healthcare industry. This is the perfect combination for the position of CEO at Bergman Clinics.”

Rutger Ruigrok, Managing Director at NPM Capital: “The scale, efficiency, professionalism and client focus of the merged organisation will strengthen our clinics’ brand and performance and will enable them to make an even more valuable contribution to the Dutch healthcare landscape.”

 

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Duff & Phelps Expands Service Offering with Acquisition of Prime Clerk

Carlyle

Launches Technology-Driven Claims and Noticing Administration Practice

NEW YORK – Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced it has signed a definitive agreement to acquire Prime Clerk, a claims and noticing administrator based in New York. The transaction, terms of which were not disclosed, is expected to close during the first quarter of 2019, subject to customary closing conditions and regulatory approval.

Prime Clerk provides claims administration services through its proprietary software and industry-leading team. The company’s suite of services includes case filing preparation, noticing solutions, claims administration, balloting and tabulation, securities noticing and balloting, corporate events (including rights offerings, tender offerings and treatment elections), secure disbursements, strategic communications and call center support, and case-specific websites.

Prime Clerk was founded in 2013 to bring a technologically advanced, professional and cost-effective claims management solution to the claims administration industry. Following the acquisition, Shai Waisman, Chief Executive Officer of Prime Clerk, will remain in his current position and head the Prime Clerk business unit of Duff & Phelps. Waisman will report directly to Jacob Silverman, President of Duff & Phelps.

Noah Gottdiener, Chief Executive Officer of Duff & Phelps, commented: “Prime Clerk is the undisputed leader in its industry, and I am thrilled to welcome this talented and accomplished group of professionals to Duff & Phelps. This acquisition, along with the addition of Kroll last year, creates a world-class suite of dispute, investigation and claims administration services for the legal channel. I share Shai’s vision for building the business, and I am confident that together we can accelerate growth in this vibrant arena.”

“Prime Clerk has a legacy of delivering superb client service leveraging the most respected professional staff and unmatched industry technology. Duff & Phelps has built a global and diversified franchise that helps clients protect and enhance their value through this shared philosophy. I am excited to bring our market-leading business into partnership with this outstanding group of professionals. I look forward to expanding the services we can offer to our clients and continuing our growth. All of us at Prime Clerk are excited about this new chapter for our firm,” said Waisman.

Shary Moalemzadeh, Co-Head of Carlyle Strategic Partners, said, “The combination of Duff & Phelps and Prime Clerk will benefit current and prospective clients of both companies. We are pleased with Prime Clerk’s growth and success during our investment and are excited to be investing in this transaction and to be a stakeholder in Duff & Phelps going forward as it adds the Prime Clerk platform to its business.  I am confident the combined company will continue to innovate and be a key strategic partner to companies throughout the U.S. and globally.”

UBS Investment Bank and Goldman Sachs acted as financial advisors to Duff & Phelps and provided committed financing in support of the transaction. Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Duff & Phelps and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Prime Clerk and The Carlyle Group.

* * * * *

About Duff & Phelps

Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. We work with clients across diverse sectors, mitigating risk to assets, operations and people. With Kroll, a division of Duff & Phelps since 2018, our firm has nearly 3,500 professionals in 28 countries around the world. For more information, visit www.duffandphelps.com.

About Prime Clerk

Prime Clerk, a claims and noticing agent founded in 2013 and based in New York, was established by veteran attorneys and consultants to bring next generation technology, leading professionalism and reliable service into a stagnant industry. Prime Clerk delivers tailored, practical and client-collaborative solutions to claims administration. www.primeclerk.com

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

CONTACTS:

Duff & Phelps
Angela Tucciarone
+1 212-871-6237
angela.tucciarone@duffandphelps.com

The Carlyle Group
Liz Gill
+1-202-729-5385
Elizabeth.gill@carlyle.com

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The Carlyle Group Raises €1.35 Billion for CETP IV

Carlyle

  • Hits hard cap and nearly doubles the size of its prior fund
  • Leverages Carlyle’s deep technology expertise and global footprint to invest in lower middle market growth opportunities in Europe and the U.S.

WASHINGTON, DC and LONDON, UK – 31 January, 2019. Global alternative asset manager The Carlyle Group (NASDAQ:CG) today announced the first and final closing of CETP IV, a €1.35 billion fund that invests in lower middle market technology-focused companies in Europe and the U.S. Starting the capital raise in October 2018, the fund received substantial limited partner interest, enabling Carlyle to nearly double the size of its prior fund and hit its hard cap. Investors across the world committed capital to CETP IV, including sovereign wealth funds, public & corporate pensions, insurance companies, fund of funds, foundations, family offices and high net worth individuals.

The transatlantic 19-person CETP IV team will continue its strategy of investing in business-to-business companies in the European and U.S. lower middle market.  Since the firm’s inception, Carlyle has invested $16.2 billion in 193 investments within technology, media and telecommunications (TMT) as part of Carlyle’s Corporate Private Equity segment, which has assets under management of $82 billion and 294 investment professionals.

Michael Wand and Vladimir Lasocki, Managing Directors and Co-Heads of CETP IV, said: “We are grateful for the confidence of our investors, many of whom are repeat limited partners, and we are pleased to broaden our capital base with a number of new institutional investors. Their support is valued along with their ability to move quickly, which enabled us to achieve our hard cap in only three months.”

“We believe Carlyle’s global platform, combined with CETP IV’s local sector-specialist team, makes us the right partner for entrepreneurs and management teams to build global businesses, as we continue our nearly 20-year focus on investing in attractive technology opportunities in the lower middle-market on both sides of the Atlantic.”

Kewsong Lee, Carlyle’s Co-Chief Executive Officer, said: “We want to thank our limited partners for their immense support, which is a testament to CETP IV’s long-term performance and the team’s distinctive capabilities and positioning in the market.  CETP IV harnesses Carlyle’s deep technology expertise, extensive global networks and substantial operating resources to create a clear edge in value creation.”

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About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle  
Tweets: www.twitter.com/onecarlyle  
Podcasts: www.carlyle.com/about-carlyle/market-commentary

Media Contacts

UK:
Catherine Armstrong
Catherine.Armstrong@carlyle.com
+44 20 7894 1632

US:
Liz Gill
Elizabeth.Gill@carlyle.com
+1 202 729 5385

Margaret Popper/Devin Broda
MPopper@sardverb.com
DBroda@sardverb.com
+1 212 687 8080

Asia:
Tammy Li
Tammy.Li@carlyle.com
+852 2878 5236

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Blackstone Infrastructure Partners enters into definitive agreement to acquire controlling interest in Tallgrass Energy

Blackstone

Leawood, KS and New York, NY – January 31, 2019 – Tallgrass Energy, LP (NYSE: TGE) and Blackstone (NYSE: BX) today announced that affiliates of Blackstone Infrastructure Partners have entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE’s management, to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction.

“Blackstone’s scale, long-term capital, and investment expertise across the energy industry make it an ideal partner for our business as we continue to create value and invest capital in accretive growth opportunities,” said Tallgrass President and CEO David G. Dehaemers Jr. “We appreciate the successful partnership we have had with Kelso and EMG since 2012 and thank them for their significant support. We look forward to working with Blackstone to continue maximizing value for all stakeholders.”

“Tallgrass is managed by an exceptional team that has an outstanding track record of commercial, operational and financial success,” said Sean Klimczak, Global Head of Infrastructure at Blackstone.  “This transaction represents a rare opportunity to invest in a large-scale U.S. midstream infrastructure platform that connects high-production supply basins to key markets and is underpinned by long-term contracts.  We are excited to partner with and to support the established Tallgrass management team over the long term as they execute on their robust backlog of attractive growth projects.”

Closing of the transaction remains subject to customary closing conditions and is expected within the first quarter of 2019.

Transaction Advisors

Baker Botts L.L.P. acted as legal advisor to Tallgrass.  Citi acted as the financial advisor and Vinson & Elkins acted as the legal advisor to Blackstone on the transaction. Sidley Austin LLP acted as the legal advisor to GIC.

About Tallgrass Energy

Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.

To learn more, please visit www.tallgrassenergy.com.

About Blackstone

Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on infrastructure, private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.  Further information is available at www.blackstone.com.  Follow Blackstone on twitter @Blackstone.

About GIC

GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. With its disciplined long-term value approach, GIC is uniquely positioned to invest in both the public and private markets, including equities, fixed income, real estate, private equity and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating infrastructure assets with a high degree of cash flow visibility and which provide a hedge against inflation. These include mature, low to moderate-risk assets in developed markets, complemented by investments with higher growth potential in emerging markets. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.

Cautionary Note Concerning Forward-Looking Statements

Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements, including whether the proposed transaction will occur in the first quarter of 2019 or at all. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass or Blackstone, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by Tallgrass or Blackstone with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and neither Tallgrass nor Blackstone intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.


Contact

Tallgrass Energy:

Investor and Financial Inquiries

Nate Lien, 913-928-6012

investor.relations@tallgrassenergylp.com

or

Media and Trade Inquiries

Phyllis Hammond, 303-763-3568

phyllis.hammond@tallgrassenergylp.com

Blackstone:

Paula Chirhart

Public Affairs, Blackstone

+1-212-583-5011

paula.chirhart@blackstone.com

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Rockefeller Group Sells New Industrial Building to KKR for $43.5 Million

KKR

Company Continues Plans for Future Inland Empire Developments Following Success of Optimus Logistics Center

IRVINE, Calif., Jan. 30, 2019 /PRNewswire/ — Rockefeller Group, a leading real estate developer, owner and operator, announced today that it has sold a recently completed 406,650-square-foot industrial distribution building to KKR for $43.5 million.  The building, located at Optimus Logistics Center in Perris, Calif., a 1.45 million-square-foot industrial complex, is the second building to be completed and sold at the project, following the September 2018 sale of a 1.04 million-square-foot distribution building to Ferguson Enterprises.

Optimus Logistics Center, Perris, Calif.

“The sale of the last building at Optimus marks an important milestone for Rockefeller Group in the Inland Empire,” said James V. Camp, Senior Vice President and Regional Development Officer for Rockefeller Group’s West Region.  “In less than two years, we were able to develop 1.45 million square feet of industrial space on a speculative basis along the I-215freeway and complete the business plan by selling both buildings shortly after completion of construction.  This success confirms that the I-215 corridor has become a destination for companies who need to distribute throughout the Western United States and also signifies the appetite by investors who see the area’s growth potential.”

Rockefeller Group completed construction of Optimus Logistics Center, which is a joint venture of Rockefeller Group and MBK Real Estate (MBK), in September 2018.

“We are excited to add Optimus Logistics Center to our industrial portfolio,” said Roger Morales, Head of Real Estate Acquisitions in the Americas at KKR.  “This is our first acquisition in the Inland Empire and we are confident that this investment will be attractive to potential tenants. Rockefeller Group has built an excellent asset.”

KKR is making the investment through its Real Estate Partners Americas II Fund.

“Throughout the escrow process on this sale, there was strong lease activity on this building given the site’s direct access to I-215 and proximity to I-10 as well as the growing demand for industrial space by e-commerce companies,” said Marc Berg, Vice President and Regional Director for Rockefeller Group’s West Region.  “We had been negotiating with several tenants prior to closing escrow with KKR and are confident that they will be successful in finding a tenant for the building in the near term.”

Along with the completion of Optimus Logistics Center, Rockefeller Group completed 425,500 square feet of distribution space consisting of two buildings at Tri-City Industrial Complex in San Bernardino, whereby one of those buildings (Building #2 at 81,286 square feet) sold to 4F Capital in September 2018.

“Rockefeller Group is committed to developing industrial distribution and e-commerce facilities in the Inland Empire given the current demand for space in the region,” said Camp.  “In 2019, the Inland Empire is expected to see continued strong absorption, stable vacancy rates and growing rents.  As a result, we will continue our development activities in the Inland Empire and other markets in the Western United States.”

Mike McCrary, Peter McWilliams, Sharon Wortmann and Scott Coyle of JLL represented Rockefeller Group and KKR for the sale at Optimus.

About Rockefeller Group
Rockefeller Group is a leading real estate developer, owner and operator, known since the development of Rockefeller Center for pioneering large-scale urban mixed-use development.  For nearly nine decades the company has been trusted for its financial strength, stability and vision, and today remains committed to the selective development of innovative, high-quality office, industrial, residential and mixed-use properties in urban centers and strategic distribution markets.  Visit RockefellerGroup.com.

About KKR
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Bridgepoint acquires Miya from Arison Investments

Bridgepoint

  • 29 January 2019

International private equity group Bridgepoint has acquired Miya from the business arm of Arison Group for an undisclosed sum. Miya is the leading private operator of water distribution in Portugal, and a global provider of comprehensive integrated water efficiency solutions to public and private utilities.

Miya was created and founded by Shari Arison in 2008 as a private subsidiary of Arison Investments to realise the value in the efficient management of the world’s fresh water resources. The company provides end-to-end integrated solutions for urban water infrastructure networks on a global basis, specialising in complex, turnaround water efficiency projects.

Indaqua, a subsidiary of the group, is Portugal’s leading private water and wastewater operator. It serves seven utilities in Portugal’s north-west, covering an area of 1,000 square kilometres with a distribution network reaching more than 600,000 residents. Since acquiring the business in 2016, Miya has successfully applied its world-class efficiency practices to improve Indaqua’s operations and maximise the efficiency of water systems.

Shari Arison, owner of the Arison Group and founder and initiator of Miya, said: “Miya was created from deep within me, with the vision of bringing pure water to people around the world. What is most important to me is that this vision continues. I believe that Bridgepoint together with the management team and employees of Miya will continue this vision. I wish them all the best and continued success in bringing pure fresh water for all.”

Arison will continue to invest in companies that bring similar added value to people.

Managed by CEO Amit Horman and his team, the company employs over 600 staff and has dual headquarters in Madrid and Oporto. He said:

“On behalf of Miya management and employees, I would like to thank Shari Arison, David Arison, the Arison family, Arison Investments Chairman and CEO Efrat Peled, and the Arison Investments team for more than a decade of vision and values-based leadership. We are proud to serve the Portuguese market, and to export its talent to other parts of the world. We are thrilled to join Bridgepoint as a portfolio company, and believe this is the beginning of an exciting period of growth. We are completely aligned in understanding the challenges and opportunities in the market.”

Héctor Pérez, a Bridgepoint partner in Madrid, added: “We have been impressed with the operational performance led by Arison Investments, which Amit and his team have delivered across a diverse set of water infrastructure systems. We are excited to partner with Miya and take forward its values-led vision by further developing the company, building on its remarkable efforts to date in contributing to the availability of water resources.”

“Bridgepoint is one of the longest-established international private equity houses in Iberia and, following our recent acquisition of Ascenza (Sapec Agro) in Portugal in 2017, this transaction demonstrates our commitment to investing in businesses with a successful track record that contribute to the sustainability of natural resources while meeting the demands of a growing population” he concluded.

Miya is the first investment made by Bridgepoint Europe VI, a €5.7 billion middle market buyout fund.

Bridgepoint has been advised in this transaction by Citi (corporate finance), PwC Strategy& (commercial), Uría Menéndez (legal), EY (financial, tax & labour), ERM (ESG) and Willis (insurance).

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AURELIUS subsidiary GHOTEL hotel & living to open new hotel in Munich

Aurelius Capital

  • New hotel to be operated as a franchisee for AccorHotels in Munich
  • Fifth AccorHotels location to open in 2022
  • GHOTEL to continue its successful expansion at a rapid pace in 2019

Munich / Bonn, January 29, 2019 – The GHOTEL Group (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), will open another hotel in Munich-Neuperlach as a franchise partner of AccorHotels. Thus, the successful collaboration with AccorHotels continues with the fifth jointly operated location. The hotel will have 172 rooms on five floors and will be marketed in the 3-star segment under the brand name ibis Styles. The opening of the newly built hotel is planned for 2022.

The new hotel will be conveniently located close to the subway line and across from the well-known shopping center “PEP Einkaufscenter Neuperlach.” It will be built in the middle of an attractive neighborhood of office buildings within easy reach of the Munich Exhibition Center. The lessor is the project development company CONCRETE Capital in a joint venture with BHB Bauträger GmbH Bayern. The hotel development is part of the “New Neuperlach Center” project, featuring a usage mix ranging from local supply and services, rental and student apartments to top-quality restaurants.

“We are expanding our portfolio in Munich with this new hotel to be operated under the ibis Styles brand. Beginning in 2022, the new hotel in München-Neuperlach will complement the two existing GHOTEL hotel & living locations in “Munich City” and “Munich-Nymphenburg,” which we have operated for many years. At the same time, we are deepening our successful partnership with AccorHotels. This is already the fifth project we will realize with Accor within a short period of time,” says Jens Lehmann, Managing Director of the GHOTEL Group.

Franchise agreements for two hotels to be operated at Düsseldorf Airport under the Novotel and ibis brands were signed in November 2017. The opening of these hotels is planned for 2020. In addition, franchise agreements for two new hotels in Bayreuth were signed with AccorHotels in mid-2018. These are expected to open in late 2019. With the latest contract signing, the GHOTEL Group has again positioned itself as an attractive franchise partner for the AccorHotels international hotel group.

The expansion of the GHOTEL Group will continue at a rapid pace in the current year as well.

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