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Onapsis Partners with Microsoft to Boost Enterprise Defense with End-to-End SAP Security Monitoring

.406 Venture

Onapsis Defend integration with Microsoft Sentinel Solution for SAP helps Security Operations teams strengthen SAP threat detection and response

 

BOSTON, MA., September 30, 2025 – Onapsis, a global leader in SAP cybersecurity and compliance, today announced the launch of a new integration between its flagship Onapsis Defend threat monitoring product and Microsoft Sentinel Solution for SAP, based on Microsoft’s AI-powered cloud-native Security Information and Event Management (SIEM) platform. The integration provides security operations centers (SOC) with unified visibility and threat detection and response capabilities for SAP security events.

SOC teams struggle with a profound visibility gap into activity happening in their mission-critical SAP landscapes, which commonly serve as foundational systems of record for enterprises. This gap includes identifying SAP threats, detecting SAP-targeted exploits and zero-day activity, suspicious user or insider behavior, sensitive data downloads, security control violations and more. The new integration provides organizations with a superior early warning system with proprietary exploit detection rules for business-critical SAP applications, enabling their security teams to detect exploit attacks on vulnerable SAP systems before patches are even released.

“The collaboration extends the power of Onapsis’ SAP-endorsed, industry-leading threat monitoring directly into Microsoft Sentinel Solution for SAP,” said Sadik Al-Abdulla, Onapsis Chief Product Officer. “By unifying Onapsis’ context-rich insights with Microsoft Sentinel’s Solution for SAP, enterprises can investigate and respond to SAP threats faster, meet strict disclosure requirements with confidence and strengthen their security posture across both on-prem, cloud and RISE with SAP environments.”

Key benefits of the integration include:

  • Specialized Exploit and Zero-Day Detection: The Microsoft Sentinel Solution for SAP offers advanced pre-patch exploit protection and early warning alerts against cyberattacks, enriched with threat intelligence from Onapsis Research Labs and their Global SAP Threat Intelligence Network. This collaboration enhances Microsoft Sentinel’s native SAP capabilities with specialized insights from one of the industry’s most trusted research teams.
  • Context-Rich Alerts, Designed for the SOC: SAP events are uniquely enriched with detailed explanations, mitigation guidance, and anomaly scoring from the SAP cybersecurity experts at the Onapsis Research Labs to accelerate investigations
  • AI-Powered Security Insights: The powerful Microsoft Sentinel Solution for SAP and Microsoft Security Copilot AI capabilities, combined with the security insights and threat intelligence from Onapsis, offer superior identification of sophisticated attacks affecting your SAP and broader environment.
  • Unified Security Operations: With market-leading SAP threat and exploit detection from Onapsis, organizations can push security events to Microsoft Sentinel Solution for SAP for correlation with broader enterprise events to streamline incident handling and reduce response times through a unified view of the overall threat landscape in the Microsoft Unified SecOps Platform.

“Microsoft takes a holistic approach to SAP security, moving beyond isolated conversations. By integrating threat intelligence across the enterprise, and Security Copilot into Microsoft Defender Portal, we demonstrate that security isn’t limited to SAP Applications or data – it is about the whole ecosystem,” said Martin Pankraz, Product Manager, SAP Security, Microsoft. “Onapsis complements that effort with their market-leading pre-breach capabilities such as SAP exploit and zero-day detection, SAP Vulnerability Management or ABAP Code Security. We’re delivering deeper protection for our customers’ SAP landscapes, empowering them to respond to SAP threats faster and keeping them far ahead of the latest SAP attacks and exploitation techniques from malicious threat actors.”

It has been a watershed year for defenders marked by a series of high-profile SAP vulnerabilities, zero-days and global attack campaigns that led to hundreds of enterprises being compromised. Despite SAP’s rapid patching, security practitioners are still faced with the ongoing challenge of protecting their business-critical applications in a sophisticated threat landscape. Considering the notable success of well-funded threat actor groups targeting SAP applications, directly combined with significantly stricter regulatory requirements under EU NIS2 and SEC rules in the US, and the looming deadline for migration to SAP S/4HANA through RISE with SAP, organizations find themselves under unprecedented pressure to better secure their SAP landscapes. The Onapsis integration with Microsoft Sentinel Solution for SAP directly addresses these challenges by giving SOC teams the visibility and control needed to rapidly respond to an increasing number of threats to critical SAP systems.

Availability

The Onapsis Defend for Microsoft Sentinel Solution for SAP integration is available today. Pricing and further details available through Onapsis sales representatives or authorized systems integrators. For more information, please visit the Microsoft Azure Marketplace.

About Onapsis

Onapsis is the global leader in SAP cybersecurity and compliance, trusted by the world’s leading organizations to securely accelerate their SAP cloud digital transformations with confidence. As the SAP-endorsed and most widely used solution to protect SAP, the Onapsis Platform empowers Cybersecurity and SAP teams with automated compliance, vulnerability management, threat detection, and secure development for their RISE with SAP, S/4HANA Cloud and hybrid SAP applications. Powered by threat insights from the Onapsis Research Labs, the world’s leading SAP cybersecurity experts, Onapsis provides unparalleled protection, ease of use, and rapid time to value, empowering SAP customers to innovate faster and securely. Connect with Onapsis on LinkedIn, X, or visit https://www.onapsis.com.

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Blackstone Credit & Insurance hires industry veteran Kimberly Kim to lead APAC insurance client coverage

Blackstone

Hong Kong, September 30, 2025 – Blackstone (NYSE: BX) today announced that Kimberly Kim will join the firm as a Senior Managing Director and Head of APAC Insurance Institutional Client Solutions for Blackstone Credit & Insurance (“BXCI”).

This is a newly created role to support the continued expansion of the business in the APAC region. Kimberly brings over 20 years of experience in the APAC insurance market. Prior to Blackstone, she was with BlackRock as Head of Financial Institutions Coverage in APAC.

Tyler Dickson, Global Head of Client Relations for BXCI, said: “Kimberly will play an instrumental role as we continue to expand BXCI’s presence across APAC. She adds to Blackstone’s deep bench of talent in the region, which has been a key driver of our differentiation and success for more than two decades.”

Philip Sherrill, Global Head of Insurance for BXCI, added: “Kimberly’s appointment reflects our commitment to growing our world-class insurance platform and deepening our relationships in APAC. Building our international insurance capabilities is a key pillar of our BXCI strategy. We see a significant opportunity to serve more of this important client base in the region, delivering value for insurers and their underlying policyholders.”

Blackstone manages over $250 billion of insurance client capital across private credit, liquid credit, and other strategies, up 20% year-over-year, and $484 billion in corporate and real estate credit assets, making it the world’s largest third-party focused credit business.

BXCI continues to significantly scale its business in APAC. It has committed to more than 20 deals in the region over the last three years, expanded relationships with investors, including with some of the region’s largest insurers, and doubled its headcount with key hires across Sydney, Tokyo, Hong Kong, and Singapore.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending, and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies the capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Contact
Wendy Lee
+852 9176 6179
Wendy.Lee@Blackstone.com

Categories: People

KKR to Acquire 50% of TotalEnergies’ 1.4 GW Solar Portfolio in North America

KKR

Paris, September 29th, 2025 – TotalEnergies has signed an agreement with insurance vehicles and accounts managed by KKR, a leading global investment firm, for the sale of 50% of a 1.4 GW solar portfolio in North America. This transaction – which aligns with TotalEnergies’ renewables business model – values the portfolio at an enterprise value of $1.25 billion. Thanks to these transactions and the bank refinancing currently being finalized, TotalEnergies will receive a total of $950 million at closing.

The transaction covers six utility-scale solar assets with a combined capacity of 1.3 GW, and 41 distributed generation assets totalling 140 MW, primarily situated in the United States. The electricity production of these projects has either been sold to third parties or will be commercialized by TotalEnergies.

TotalEnergies will keep a 50% stake in the assets and continue to operate them after the closing of this transaction, which is subject to customary conditions.

“We are pleased to enter into this new strategic partnership with KKR in North America, a key deregulated electricity market to expand our integrated business model”, said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies. “Aligned with our strategy, this transaction unlocks value from newly commissioned assets and further strengthens the profitability of our Integrated Power business.”

“TotalEnergies is a renewable energy industry leader globally, and we are thrilled to establish this joint venture with the TotalEnergies team to support their renewables business”, said Cecilio Velasco, Managing Director, KKR. “We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments. TotalEnergies’ North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts.”

TotalEnergies’ Integrated Power Business Model

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. To achieve the 12% profitability target it sets for its Integrated Power business, TotalEnergies divests up to 50% of its renewable assets once they reach commercial operation date (COD) and are derisked, allowing the Company to maximize asset value and manage risks.

***

TotalEnergies and electricity

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers.
As of the end of June 2025, TotalEnergies has more than 30 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies Contacts

TotalEnergies on social media

Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

 

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Infobric and Stirling Square Welcome KKR as New Investor

KKR

Investment supports the acceleration of Infobric’s growth in construction software solutions

JÖNKÖPING, Sweden–(BUSINESS WIRE)– Stirling Square Capital Partners (“Stirling Square”), a pan-European private equity firm, and KKR, a leading global investment firm, today announce that KKR is making a growth investment into Infobric (the “Company”), a leader in software solutions for the construction industry. KKR will become a significant shareholder alongside majority investor Stirling Square and Infobric’s management. The new investment and support from Stirling Square and KKR will enable Infobric’s further growth through continued product innovation, geographic expansion and strategic M&A.

Infobric is a leading construction software company, supporting over 12,000 general contractors, 75,000 subcontractors and 450,000 app users in the Nordics and the UK. Infobric has a strong track record of developing mission-critical software solutions for the construction industry with significant impact on compliance, transparency, sustainability and health & safety outcomes. The Company serves stakeholders in the construction ecosystem with innovative solutions for workforce management as well as equipment and assets control.

Henrik Lif, Managing Partner at Stirling Square, said: “We are thrilled to welcome an investor of KKR’s calibre at an incredibly exciting time for the business. Their team shares our ambition for Infobric and brings extensive expertise investing in the sector and a phenomenal international platform that will help us accelerate our growth strategy, both organically and through M&A.”

Rami Bibi, Managing Director and Head of KKR’s Global Impact team in EMEA, said: “Infobric has built a leading platform that delivers improved productivity for its customers and a safer environment for construction workers. We are delighted to establish a strategic partnership with Stirling Square and Infobric’s management to support the company’s next chapter of growth, leveraging our global platform and expertise in scaling technology businesses to help Infobric realise its potential.”

Dan Friberg, Group CEO at Infobric, added: “We are delighted to welcome KKR as an investor. They support our mission and values, and will bring a complementary perspective and expertise, informed by decades of growing world class enterprises. Infobric remains passionate about our mission to make construction sites safer, more transparent, and more sustainable for everyone and are relentlessly focused on delivering our strategy, investing in innovation and expanding internationally to deliver even greater value to our customers. I would like to thank Summa Equity for their partnership over the years.”

Since Stirling Square acquired a majority stake in 2023, Infobric has experienced strong growth in its innovative core digital solutions. Stirling Square has a proven track record of investing in the global construction technology sector demonstrated by its successful investment in Hubexo, and the company’s expansion from a Nordic market leader to a global market intelligence and sales enablement software platform present in 22 countries. Stirling Square brings extensive experience investing in the Nordics, with its current portfolio including Hubexo, Logent, Assist24 and SAR.

KKR is making the investment primarily through its Global Impact Fund II, which focuses on investing in companies whose core products and services help deliver commercial solutions to societal challenges and which contribute measurable progress toward the UN Sustainable Development Goals (“SDGs”). Infobric’s solutions help to improve working conditions at construction sites, with customers reporting measurable improvements in worker safety outcomes and suppliers’ adherence to labor laws, thereby contributing to UN Sustainable Development Goal 8 (Decent Work and Economic Growth). The investment is KKR Global Impact’s first investment in the Nordics and builds on the firm’s recent investments in leading Swedish companies Etraveli and Karo Healthcare. KKR has a long track record of investing in technology-enabled services businesses across Europe and globally, bringing extensive experience, access to capital, operational expertise and a global platform.

As part of the transaction, which is subject to customary closing conditions, Summa Equity will exit its minority investment in Infobric. Financial terms are not being disclosed. Goodwin Procter LLP and Vinge AB acted as legal advisors. Arma Partners served as financial advisor to KKR and Kirkland & Ellis and Roschier served as legal advisors.

About Infobric

Infobric Group is a leading digitalisation partner for the construction industry in the Nordics and the UK. We are on a mission to digitalise the construction industry – with a clear focus on making it more productive, safer, and more sustainable. Since 2023, Stirling Square Capital Partners is the majority owner of Infobric. Learn more on www.infobric.com.

About Stirling Square Capital Partners

Stirling Square Capital Partners was founded in 2002 as a pan-European private equity firm specialized in internationalizing and digitizing mid-market businesses with an enterprise value between EUR 100m and EUR 500m. The firm manages over EUR 3bn on behalf of a global and diverse investor base. Since inception, Stirling Square has invested in 30+ platform companies and 100+ add-on acquisitions globally, helping to create regional and global champions. For more information, visit www.stirlingsquare.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Infobric
Caroline Rudbeck
Caroline.Rudbeck@infobric.com

KKR
UK
Alastair Elwen / Oli Sherwood
KKR-LON@fgsglobal.com

Sweden
Peter Lindell
plindell@brunswickgroup.com

Stirling Square
Chris Sibbald
StirlingSquare-LON@fgsglobal.com

Source: KKR

 

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Apollo Announces Launch of Apollo Sports Capital

Apollo logo

ASC names Al Tylis as CEO, Apollo Partners Rob Givone and Lee Solomon as Co-Portfolio Managers, and Sam Porter as Chief Strategy Officer

NEW YORK, Sept. 29, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the launch of Apollo Sports Capital (ASC), a new investment business providing capital solutions across the global sports and live events ecosystem. Al Tylis, a seasoned sports investor and executive has been named Chief Executive Officer of ASC. Apollo Partners Rob Givone and Lee Solomon have been named co-portfolio managers of the platform. Sam Porter has been named Chief Strategy Officer for ASC.

ASC will invest predominantly in credit and hybrid opportunities in the sports landscape, spanning franchises, leagues, venues, media, events and more. The permanent capital holding company is designed to be a stable, long-term partner to the sector, providing patient capital and adding strategic value.

Co-President of Apollo Asset Management John Zito said, “With Apollo Sports Capital, we’ve set out to build the preeminent investment company in the growing world of sports. Our aim is to create durable, long-term value not only for investors but also for fans, teams and communities.”

Zito continued, “We’ve known Al for many years. He brings a rare combination of investment and operational success in both sports and real estate. Together with the expertise of Rob, Lee and the broader team, we believe ASC will be well positioned as a capital solutions leader in the industry.”

ASC CEO Al Tylis said, “Having owned or invested in many teams and leagues over the years, I know firsthand how valuable Apollo Sports Capital will be to the market. We bring patient capital, extensive networks, and a range of solutions that go beyond the typical equity-only strategies. Lee, Rob, Sam and the Apollo team have extensive experience investing across this ecosystem, and together we’ve set out to build something differentiated and enduring in the world of sports.”

Prior to joining ASC, Tylis led numerous sports investments, including as owner and chairman of Club Necaxa, La Equidad and the Brooklyn Pickleball Team. He also serves on the Boards of G2 Esports, United Pickleball Association and Canvas Property Group, and is the co-founder of the Tylis Family Foundation. Tylis is a former real estate executive, having most recently served as president and CEO of NorthStar Asset Management.

ASC will build on Apollo’s established presence in sports, with Apollo’s managed funds having deployed approximately $17 billion to-date in the broader space, including investments in sports and entertainment companies, media rights, and stadium and league financings.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com

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Emerald backs FREDsense in $7M Series A to speed up PFAS field testing

Emerald

Calgary, Canada — Emerald has announced its participation in FREDsense’s USD $7 million Series A funding round, led by HG Ventures. FREDsense delivers practical, next-generation solutions for detecting PFAS —“forever chemicals”— by providing fast, portable testing equipment that allows customers to get results in hours rather than weeks.

The company has launched the first commercially available field-based PFAS detector and has seen early adoption across industries such as environmental consulting & services, water and wastewater treatment, energy and general industrial operations. By replacing lengthy lab turnaround times with same-day answers onsite, FREDsense enables onsite teams to identify contamination hotspots, verify cleanups, and optimize treatment more efficiently and at lower cost.

“FREDsense is bringing much-needed speed and practicality to PFAS testing,” said Clayton MacDougald, Investment Director at Emerald and newly appointed FREDsense Board Member. “When you can get reliable results the same day, you make better decisions, finish jobs faster, and reduce costs. We’re thrilled to back this team alongside HG Ventures.”

“Communities and companies need cleaner water, faster answers, and fewer delays,” said Ginger Rothrock, Senior Director at HG Ventures. “FREDsense puts lab-level insight into the hands of field teams, which is exactly what this moment requires. We’re proud to lead the round and support FREDsense as they scale.”

“Our mission is simple: make PFAS testing fast, accessible, and actionable,” said David Lloyd, CEO of FREDsense. “With support from HG Ventures and Emerald, we’ll expand production, deepen customer support, and continue improving our product so more sites can get answers on the spot.”

Looking ahead

FREDsense is building toward long-term relevance in a market of extreme importance, where PFAS sits at the intersection of environmental urgency, human health concerns, regulatory enforcement and economic opportunity within a  global multi-billion-dollar problem. With its first-mover advantage, growing commercial traction, and scalable business model, FREDsense represents a compelling opportunity for players in the PFAS space that are seeking differentiated tools to strengthen their portfolios and respond to regulatory and customer demand.

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Onapsis Unveils New Platform Updates Delivering the Deepest Level of SAP Application Security Posture Insights to Date

.406 Venture

The company launches SAP Notes Command Center, Rapid Controls and expands its SAP BTP coverage and Onapsis Security Advisor capabilities to protect SAP applications   

 

BOSTON, MA – September 25, 2025–Onapsis, the global leader in SAP cybersecurity and compliance, today announced major updates to its Onapsis Platform, including the launch of three new capabilities – the SAP Notes Command Center, Rapid Controls for Dangerous Exploits, and Alert on Anything for SAP Business Technology Platform (BTP). Together, these enhancements arm organizations with deeper insights, greater visibility, and new automation to strengthen their SAP application security posture.

“This is a pivotal time in SAP security. Organizations no longer have the time to spend sorting through false positives or wondering if a patch is applied correctly; instead, they need security solutions that are customizable to their business and attack surface,” said Mariano Nunez, CEO of Onapsis. “The new capabilities in our Assess and Defend products, as well as the expansion of our platform, provide our customers with the technologies they need to keep ahead of sophisticated threat actors, protect their most valuable data, and achieve business resilience.”

The exploitation of SAP applications is a top concern for organizations, as this year the industry is experiencing a record number of attacks targeting business-critical applications, leaving thousands of enterprises compromised. To help ensure companies are prepared and protected, Onapsis is delivering new updates that proactively discover threat activity with enhanced exploit detection rules and streamline all SAP security measures with task prioritization and patch validation. These updates include:

  • SAP Notes Command Center in Assess: Empowers users to easily anticipate SAP patch days and prioritize tasks while also providing additional insights into SAP Note applications. This new dashboard eliminates the time spent on false positives, reduces the risk of undetected vulnerabilities and automatically validates that all patches – including manual configurations and workarounds – were applied correctly
  • Rapid Controls: Leverages Defend’s unique exploit detection rules to monitor for threat activity targeting the most dangerous SAP vulnerabilities. These controls proactively address the risk of critical vulnerabilities and support regulatory requirements, such as EU NIS2 and US SEC rules
  • Alert on Anything for SAP BTP: Enables organizations to customize and expand their BTP threat monitoring, providing users with the flexibility needed to manage security controls tailored to individual use cases
  • Expanded Coverage Analysis in Onapsis Security Advisor: Automatically identifies assets in a customer’s security landscape that are not being actively monitored for threats, expanding their visibility to detect and act on any potential unmonitored critical systems in their SAP business landscapes

“Onapsis’ unique insights and unmatched data set put us at the forefront of application security,” said Sadik Al-Abdulla, Chief Product Officer at Onapsis. “With the launch of these new enhancements, organizations are able to take control of their SAP security by proactively addressing any vulnerabilities and automatically identifying assets that aren’t protected in their security landscape but could weaken or cause disruption to their SAP applications.”

Availability

These new enhancements will be available in late September 2025. Pricing and further details are available through Onapsis sales representatives or authorized systems integrators. For more information, please visit: https://onapsis.com/platform/

About Onapsis

Onapsis is the global leader in SAP cybersecurity and compliance, trusted by the world’s leading organizations to securely accelerate their SAP cloud digital transformations with confidence. As the SAP-endorsed and most widely used solution to protect SAP, the Onapsis Platform empowers Cybersecurity and SAP teams with automated compliance, vulnerability management, threat detection, and secure development for their RISE with SAP, S/4HANA Cloud and hybrid SAP applications. Powered by threat insights from the Onapsis Research Labs, the world’s leading SAP cybersecurity experts, Onapsis provides unparalleled protection, ease of use, and rapid time to value, empowering SAP customers to innovate faster and securely. Connect with Onapsis on LinkedIn, X, or visit https://www.onapsis.com.

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DB Insurance to Acquire U.S.-based Insurer Fortegra

Warburg Pincus logo

SEOUL, South Korea & GREENWICH, Conn. & NEW YORK–(BUSINESS WIRE)–DB Insurance Co., Ltd. (“DB Insurance”) (CEO Jong-Pyo Jeong), Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”) and Warburg Pincus LLC (“Warburg Pincus”) announced today that the parties have signed an agreement for DB Insurance to acquire 100% of the outstanding shares of The Fortegra Group, Inc. (“Fortegra”), a U.S.-based specialty insurer, for approximately $1.65 billion (approximately KRW 2.3 trillion) in cash from Tiptree and Warburg Pincus. The transaction will be funded in cash with internal resources from DB Insurance. The transaction will mark the largest U.S. market entry by a Korean non-life insurer.

DB Insurance first entered the U.S. market in 1984 through its Guam branch and has since pursued a differentiated global business strategy with the goal of establishing “a second DB Insurance” abroad. The decision to acquire Fortegra, with 2024 annual premiums of KRW 4.4 trillion, reflects a strategic step to secure scale and capabilities as a global insurance group.

Founded in 1978 and headquartered in Jacksonville, Florida, Fortegra has built a portfolio spanning specialty insurance, other insurance and services. The company operates across the U.S. and Europe, supported by strong underwriting discipline and risk management, and has maintained a long-term combined ratio of approximately 90%.

For 2024, Fortegra reported gross written premiums of $3.07 billion (KRW 4.4 trillion) and net income of $140 million (KRW 200 billion). It operates in all 50 U.S. states and eight European countries, including the U.K. and Italy, and holds an A- financial strength rating from A.M. Best.

The acquisition is expected to provide DB Insurance with a platform for global growth in the world’s largest property and casualty (P&C) markets, enable entry into the profitable surety and warranty sectors, and enhance earnings stability through broader geographic and business-line diversification.

This agreement also provides Fortegra with a strong capital base to support its continued profitable growth as it joins an insurance group with strong financial ratings: AM Best A+ (Superior) and S&P A+ (Stable).

Ki-Hyun Park, Head of Global Business at DB Insurance, said: “This acquisition will mark the first-ever purchase of a U.S. insurer by a Korean non-life insurer and represents a turning point for DB Insurance in its journey to become a global insurer. By combining Fortegra’s expertise with DB Insurance’s global network and capital strength, we aim to enhance customer value and market competitiveness while simultaneously achieving our dual objectives of increasing shareholder value and contributing to the national economy.”

Rick Kahlbaugh, CEO of Fortegra Group, added: “This agreement with DB Insurance marks a significant new chapter in Fortegra’s journey. We look forward to partnering with DB Insurance to advance the shared goal of building a leading insurance group.”

Michael Barnes, Tiptree’s Executive Chairman, said: “For more than a decade we have had the pleasure of working closely with Rick and his team to nurture Fortegra’s growth and deliver a track record of consistent performance. As Fortegra embarks on its next chapter, we remain proud of what we’ve built together and confident in the company’s continued success.”

Dan Zilberman, Global Head of Capital Solutions and Global Co-Head of Financial Services at Warburg Pincus, said: “Fortegra successfully accelerated its growth and cemented its position as a leading global specialty insurer during our partnership with the company. We, along with our friends at Tiptree, are proud to have supported Rick and the Fortegra team through this exciting period, and are highly confident that DB Insurance is the right partner for Fortegra in this next chapter of its growth.”

Barclays and BofA Securities are serving as financial advisors to Fortegra. Goldman Sachs & Co. LLC is serving as a financial advisor and Tatsuhiko Hoshina as a global strategy advisor to DB Insurance. Ropes & Gray LLP and Sidley Austin LLP are serving as legal advisors to Fortegra. Latham & Watkins LLP is serving as legal advisor to DB Insurance.

The acquisition is subject to receipt of Tiptree stockholder approval, required regulatory approvals and other customary closing conditions and is expected to close in mid-2026.

About DB Insurance
DB Insurance was established as Korea’s first automobile insurance company in 1962 and today is the second largest non-life insurer in South Korea, servicing over 11 million customers. DB Insurance offers a diversified portfolio including long-term medical, auto, and property and casualty insurance policies.

About Fortegra
For more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a multinational specialty insurer whose insurance subsidiaries have an A.M. Best Financial Strength Rating of A- (Excellent) and an A.M. Best Financial Size Category of ‘X’, we offer a diverse set of admitted and excess and surplus lines insurance products and warranty solutions. For more information: www.fortegra.com.

About Tiptree
Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small and middle market companies with the mission of building long-term value. Established in 2007, Tiptree has a significant track record investing across a variety of industries and asset types, including the insurance, asset management, specialty finance, real estate and shipping sectors. With proprietary access and a flexible capital base, Tiptree seeks to uncover compelling investment opportunities and support management teams in unlocking the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn.

About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has been a leading investor in the insurance industry for 30 years, investing more than $5 billion in equity capital across more than 20 investments, globally. These investments include Aeolus Re, Arch Capital, Fetch Pet Insurance, Fortegra, Foundation Risk Partners, ICICI Lombard Insurance, K2 Insurance Services, Keystone Agency Partners, McGill & Partners, ParetoHealth, RenaissanceRe, and Somers Re, amongst others.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit warburgpincus.com or follow us on LinkedIn.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “seek,” “may,” “plan,” “project,” “should,” “target,” “will,” and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding the potential synergies, future growth and expansion opportunities, credit ratings and other impacts to DB, Tiptree, Fortegra and U.S.-Korea economic ties relating to closing of the merger of Fortegra with and into a subsidiary of DB (the “Merger”), pursuant to the merger agreement between DB, Tiptree and Fortegra (the “Merger Agreement”) are forward-looking statements. These forward-looking statements are based upon present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of Tiptree, Fortegra and DB. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (a) failure to satisfy the conditions to closing and the consummation of the Merger and the other transactions contemplated by the Merger Agreement, including required regulatory approvals; (b) potential legal proceedings relating to the Merger Agreement and the Merger; (c) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, including a termination of the Merger Agreement under circumstances that could require Fortegra or Tiptree to pay a termination fee; (d) failure to obtain stockholder approvals as required for the Merger; (e) failure to consummate the Merger in a timely manner or at all; (f) the effect of the announcement and pendency of the Merger and the other transactions contemplated by the Merger Agreement on Tiptree’s future operating results and financial condition; (g) the market price of Tiptree’s common stock; (h) the significant transactions costs that Tiptree will incur in connection with the Merger; (i) the effect of the pendency of the Merger on Tiptree’s business and Tiptree’s ability to attract, retain and motivate key personnel; (j) changes in Tiptree’s or Fortegra’s business or operating results; (k) any disruption of Tiptree or Fortegra management’s ability to spend time on the ongoing business operations of Tiptree and Fortegra due to the Merger; (l) limitations placed on Tiptree’s ability to operate the business by the Merger Agreement; (m) failure to close the Merger in a timely manner or at all; (n) failure of Tiptree to realize financial benefits currently anticipated from the Merger; (o) competitive pressures in the markets in which Tiptree and Fortegra operate; (p) the effects of market volatility or macroeconomic changes and financial market regulations on the industries in which Tiptree operates; (q) the effects of changes in, or Tiptree’s failure to comply with, laws and regulations; (p) cybersecurity attacks or information system failures disrupting Tiptree’s businesses; and failure of Tiptree’s insurance subsidiaries to meet liquidity requirements; and (r) Tiptree’s ability to continue as a going concern.

For additional information about risks and uncertainties that may cause actual results of the transaction to differ materially from those described, please refer to Tiptree’s reports filed with the SEC, including without limitation the “Risk Factors” and/or other information included in such reports. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof. Except as required by law, Tiptree assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

Additional Information and Where to Find It
In connection with the Merger, Tiptree will file with the SEC a preliminary proxy statement of Tiptree (the “Proxy Statement”). Tiptree plans to mail to its stockholders a definitive Proxy Statement in connection with the Merger. Tiptree may also file other documents with the SEC regarding the Merger. This document is not a substitute for the Proxy Statement or any other document that may be filed by Tiptree with the SEC.
TIPTREE URGES YOU TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIPTREE, THE MERGER AND RELATED MATTERS.

Any vote in respect of resolutions to be proposed at a Tiptree stockholder meeting to approve the Merger or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in the Proxy Statement. You will be able to obtain a free copy of the Proxy Statement and other related documents (when available) filed by Tiptree with the SEC at the website maintained by the SEC at www.sec.gov. You also will be able to obtain a free copy of the Proxy Statement and other documents (when available) filed by Tiptree with the SEC by accessing the Investor Relations section of Tiptree’s website at https://investors.tiptreeinc.com.
The proposed transaction will be implemented solely pursuant to the Merger Agreement, which contains the full terms and conditions of the proposed transaction.

Participants in the Solicitation
Tiptree and certain of its directors, executive officers and certain employees and other persons may be deemed to be participants in the solicitation of proxies from Tiptree’s stockholders in connection with the Merger. Security holders may obtain information regarding the names, affiliations and interests of Tiptree’s directors and executive officers in Tiptree’s definitive proxy statement on Schedule 14A for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on March 17, 2025 and in Tiptree’s Current Report on Form 8-K filed with the SEC on May 1, 2025. Additional information concerning the interests of Tiptree’s participants in the solicitation, which may, in some cases, be different than those of Tiptree’s stockholders generally, will be set forth in the Proxy Statement when it is filed with the SEC and other materials that may be filed with the SEC in connection with the Merger when they become available. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the investor relations page of the Tiptree’s website at https://investors.tiptreeinc.com.

Contacts

Investor Relations, 212-446-1400
ir@tiptreeinc.com

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Warburg Pincus Partners with DC Connects and Wide Creek AMC to Acquire Land to Develop 80MW Hyperscale Data Centre in South Korea

Warburg Pincus logo

The hyperscale data center features air- and liquid-cooled infrastructure designed to meet rising demand from high-density artificial intelligence applications.

Seoul, September 25, 2025 – Warburg Pincus, the pioneer of global growth investing, today announced that the firm, in partnership with DC Connects, a South Korean data center developer, and Wide Creek AMC, a Seoul-based Asset Manager, has acquired a greenfield site in Yongin City to develop an 80-megawatt hyperscale data center. Construction has officially commenced following the groundbreaking of the landmark project.

The nearly 58,000 square meter facility is strategically located in close proximity to Gangnam and Pangyo, often referred to as the “Silicon Valley of South Korea”—home to major technology firms with strong demand for hyperscale data centers. Designed to meet the highest international standards, the data center facility will feature a high-efficiency air- and liquid-cooling system capable of supporting high-density artificial intelligence (AI) applications ranging from 60kW to 200kW. Equipped with fan walls and coolant distribution units (CDUs), the facility will be fully prepared to meet the needs of global cloud service providers and enterprise clients deploying AI and machine learning (ML) capabilities. The facility is targeted to be ready for service by 2027.

Dongkun Cho, Principal of Warburg Pincus, said, “South Korea represents one of the most compelling markets for next-generation digital infrastructure investment. As Asia’s fourth-largest economy and one of the most advanced ICT ecosystems globally, the country continues to experience accelerating demand for data capacity, driven by AI adoption, cloud migration, and the government’s ‘Digital New Deal’ initiative. At the same time, the Greater Seoul area faces a limited pipeline of large-scale, well-permitted sites with secured power, creating a highly attractive supply–demand dynamic. Partnering with DC Connects and Wide Creek AMC, we are excited to develop a state-of-the-art, 80MW hyperscale data center in Yongin that will deliver reliability, efficiency, and high-density capabilities to meet the evolving needs of global and domestic technology leaders.”

Jaewoo Choi, Founder and CEO of DC Connects, added, “We are proud to break ground on a strategic asset designed from the ground up to meet growing demand from global and local cloud and AI leaders. With 80MW of capacity, best-in-class cooling and power systems, and built-in flexibility for rapid deployment, this data center will deliver the reliability, efficiency, and high-density capabilities that tenants need to operate at scale. This project brings together global expertise, local knowledge, and the dedication of our homegrown team. Together with our partners, we are committed to building secure, future-ready data centers that support our tenants’ long-term growth.”

Hosung Lee, Investment Director of Wide Creek Asset Management, said, “We are pleased to announce the groundbreaking of our second hyperscale data center project. Located in southern Greater Seoul, the asset will be the only hyperscale data center expected to be operational in the area within the next three years, offering exceptional accessibility and industry-leading specifications to clients. The new data center is designed to serve as the optimal choice for clients pursuing AI adoption and digital transformation. We believe that this investment underscores our proven capabilities across the entire development cycle — from strategic land acquisition and regulatory approvals to contractor selection and construction management. Looking ahead, we plan to continue investing in the new economy sector through our strong partnership with Warburg Pincus.”

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About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

Warburg Pincus began investing in Asia real estate in 2005. Today, it has become one of the largest and most successful investors in the region, with nearly $10 billion invested in around 60 real estate platforms and ventures across Asia Pacific. For more information, please visit www.warburgpincus.com.

About DC Connects

DC Connects is a data center developer dedicated to meeting the fast-growing demand for digital infrastructure in South Korea. The company provides secure, reliable, and internationally certified facilities that support cloud and AI services, enterprises, and government agencies. Founded by Jae Woo Choi—a seasoned industry leader with experience at Fortune 500 companies including 3M, ABB, and AWS. Most recently, he served as Country Head of DCI Data Center, bringing deep expertise and proven leadership to DC Connects.

About Wide Creek Asset Management

Since its establishment in 2020, Wide Creek Asset Management has set up a total of 14 development projects and has recorded a cumulative AUM exceeding 2.9 trillion won. The firm specializes in innovative real estate investment, operation, and development with a customer-centered and community-focused approach. With a fast-paced and dynamic organizational culture, Wide Creek aims to become a model asset management firm leading the rapidly changing financial markets.

Media Contact

Warburg Pincus – Lisa Liang, Asia Head of Marketing and Communications – Lisa.Liang@warburgpincus.com

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Carlyle Announces the Listing of Orion Breweries on the Prime Market of the Tokyo Stock Exchange

Carlyle

Tokyo, Japan, 25 September 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced the listing of Orion Breweries (“Orion”), one of Japan’s leading breweries, on the Prime Market of the Tokyo Stock Exchange. As part of the IPO, Carlyle has sold its entire stake in Orion, assuming full exercise of the over-allotment option.

Founded in 1957 in Okinawa, Orion has over 60 years of history as a brewery and is today recognized as the region’s leading beer brand. Known for its flagship “Orion” branded beer, the company produces and sells a range of alcoholic beverages and soft drinks while also operating a hotel and tourism business.

Carlyle, alongside Nomura Capital Partners, acquired Orion in 2019 and have since worked closely with Orion’s management team to develop and execute a long-term growth strategy aimed at enhancing the company’s brand and driving sustainable growth. This has been achieved through strengthening the company’s management through the appointment of new talent, capturing tourism demand in Okinawa while also expanding the brand overseas, and enhancing manufacturing capacity and optimizing of the supply chain.

Takaomi Tomioka, Co-Head of Carlyle Japan, said: “It has been a real pleasure to work with Murano-san and the Orion management team to grow a much-loved brand. We are grateful to the company’s employees and stakeholders, including the people of Okinawa, for their trust and support. Today’s listing is an important milestone for the company and we wish them continued success in the years ahead.”

Hajime Murano, President and CEO of Orion, said: “We have received invaluable strategic guidance from Carlyle following their investment in 2019 that has contributed significantly to enhancing our corporate value. We are grateful for their support and dedication, which ultimately led to Orion’s listing on the Prime Market of the Tokyo Stock Exchange. Looking ahead, we remain committed to building a brand rooted in its Okinawan heritage that brings smiles to people around the world.”

Carlyle’s Japan buyout platform has invested more than JPY 600 billion across approximately 40 private equity investments since 2000. Orion represents the tenth portfolio company of Carlyle’s Japan buyout platform to become a listed company in the region, and follows the IPO of Rigaku Holdings Corporation in October 2024.

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About Carlyle 
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

This press release does not constitute an offer to sell, or a solicitation, or an invitation to trade securities in Japan, the United States or any other state or applicable jurisdiction. Securities of Orion Breweries may not be offered or sold absent required registration or qualification under the securities laws of applicable states or jurisdiction or an exemption from such registration(s). Any public offering of securities to be made in Japan,  the United States or any other state or other jurisdiction will be made by means of a prospectus that may be obtained from Orion Breweries and that will contain detailed information about the Orion Breweries and its management, as well as financial statements. This press release has not been reviewed or approved by any regulator or securities exchange and is for information purposes only. All information and statements provided herein are as of the date of this press release and Carlyle is under no obligation to update any statement.

 

Media Contacts

Carlyle

Andrew Kenny
+44 7385 662334
andrew.kenny@carlyle.com

Kaede Haseda
+81 80 4209 1053
kaede.haseda@carlyle.com

 

Brunswick Group

Masato Ui / George Ohyama
+81 80 6538 2109 / +81 80 7340 1015
carlylejp@brunswickgroup.com

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