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Ardian raises $20bn to power essential European infrastructure

Ardian

Fundraise underlines growing investor interest, with the United States being the largest investor base, in the European infrastructure asset class
• Ardian Infrastructure Fund VI is 90% larger than its predecessor, reflecting strong investor confidence in Ardian’s differentiated strategy and track record
• The fund’s success will continue to rely on investment in essential infrastructure across three verticals: energy, transport and digital infrastructure

Ardian, a world-leading investment firm, today announces it has raised $20 billion for its latest flagship infrastructure platform set to invest predominantly in Europe. It is Ardian’s largest infrastructure platform to date, composed of Ardian Infrastructure Fund VI (AIF VI), which reached its hard cap of $13.5bn (€11.5bn), and co-investments alongside the fund. AIF VI is 90% larger than the previous generation, Ardian Infrastructure Fund V (AIF V) , demonstrating growing investor interest and the strength of Ardian’s differentiated strategy.

The successful fundraise cements Ardian’s position as an international leader in essential infrastructure, with its unique investment approach and strong track record, offering one of the most stable and consistent platforms in the market. The fund will continue Ardian’s strategy, developed over two decades, of combining an industrial approach with investment expertise across three verticals that are powering the future and supporting Europe’s competitiveness: energy, transport and digital infrastructure.

Despite a challenging fundraising environment which has seen infrastructure funds raise over longer periods of time than prior years, AIF VI was raised in two years with an increase of 90% on the previous generation.

The fund attracted strong interest from both existing and new investors across the globe, with commitments from 229 limited partners (LPs) in Europe, North America, APAC and the Middle East. The fund saw the biggest increase in commitments from investors in the United States, with the number of US investors more than doubling and accounting for 14% of capital raised, up from $1bn in AIF V.

This comes amid growing US investor appetite for investing in Europe. Asian investors also showed strong interest, accounting for 32% of the capital raised, including many key Australian investors for the first time.

The number of investors in AIF VI doubled compared to AIF V. Investors having re-upped into AIF VI increased their commitments in average by c.40%.

Ardian has $47 billion in assets under management (AUM) for its infrastructure strategy covering the European and American essential infrastructure market as well as thematic funds related to the energy transition. The team counts 80 investment professionals who work with a strong network of operating partners. Ardian’s strong, multi-local team includes a market-leading data science capability, which has led to the development of proprietary Ardian tools including OPTA, which uses data to optimize the performance of wind assets, and Ardian AirCarbon, a proprietary emission quantification and reduction tool for the aviation industry.

AIF VI has already successfully deployed more than 40% of its capital, including in landmark infrastructure assets like London Heathrow Airport – Europe’s largest airport – where Ardian is the largest shareholder. Building on Ardian’s expertise in airports, the team, together with Finint Infrastrutture announced the signing of the agreement for the joint indirect acquisition of Venice Airport.

Additional AIF VI investments include:

•    Verne: A UK-headquartered data center platform, powered entirely by decarbonised energy.
•    Attero: a leading European waste management and circular economy platform, which is currently developing a 640 kilo-tonnes per annum of carbon capture and storage project on its Moerdijk plant.
•    Akuo: a pioneer in the renewable energy sector, specializing in wind power, photovoltaics and storage, with 1.9GW of installed capacity across Europe.
•    Energia Group: one of the largest energy utilities on the island of Ireland serving almost 900,000 homes and businesses.

“More than ever, clients expect from us high absolute returns decorrelated from financial market. Amid Ardian’s continued strong performance, this milestone fundraise reflects the success of our differentiated strategy that we have applied consistently since inception 20 years ago. We have expanded into new geographies while maintaining a clear and selective focus on essential and capital intensive assets in three key sectors: energy, transport and digital infrastructure. Our asset management approach is precise: value creation must come from operational improvement, not market cycles. In a market that rewards clarity and conviction, our approach has stood the test of time, and our strategy remains consistent, differentiated and rooted in a long-term view to create value.” Mathias Burghardt, Executive Vice-President, CEO of Ardian France and Head of Infrastructure, Ardian.

“The scale and speed of this fundraise highlights not only the market-leading position of Ardian’s Infrastructure team, but also the attractiveness of the asset class, offering resilience in a world that is anything but predictable. We continue to see strong confidence around the world, particularly in European infrastructure as a standout asset class, with a notable increase in interest among investors outside of Europe, especially the US and APAC. Investors that have a track record of applying industry expertise to deliver value creation are winning in this environment.
“We would like to thank our investors for their continued support and new LPs for their trust, which has allowed us to more than double the size of our platform.” Jan Philip Schmitz, Executive Vice-President and Head of Investor Relations, Ardian.

About Ardian

Ardian is a world-leading private investment firm, managing or advising $192bn of assets on behalf of more than 1,860 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

Headland

ardian@headlandconsultancy.com 

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Ardian and Finint Infrastrutture, together with Sviluppo 87, have signed an agreement for the joint acquisition of Milione S.p.A., parent company of Save S.p.A., a leading airport platform, including Venice Airport

Ardian

Ardian, a world-leading private investment firm, and Finint Infrastrutture, built leveraging Finanziaria Internazionale  Holding’s experience in asset management to boost Italy’s infrastructure sector, today an-nounced the signing of the agreement for the joint acquisition of Milione S.p.A., the parent company of Save S.p.A., which primarily operates in the airport sector, including Venice Marco Polo Airport, one of Italy’s three intercontinental airports and a strategic gateway at both national and international level.

Finint Infrastrutture together with Sviluppo 87 and Ardian have reached an agreement for the joint ac-quisition of approximately 100% of Milione S.p.A, while confirming the company’s current manage-ment team. The closing of the transaction is expected by the end of 2025/beginning of 2026. The transaction entails the exit of the current shareholders, funds managed by DWS Infrastructure and InfraVia Capital Partners, while Sviluppo 87, controlled by Finanziaria Internazionale Holding, will remain a shareholder of Milione S.p.A.

The transaction marks the beginning of a strategic partnership between Ardian and Finint Infrastrutture, aimed at supporting the growth of both Save and the North-East Airport System, as well as at establish-ing a strategic operator to pursue new acquisitions as part of an external growth strategy.

The Save Group includes the airports of Venice, Verona, Treviso and Brescia, as well as a participation in Charleroi Air-port in Belgium. In 2024, the SAVE Group handled around 29 million passengers: over 18.3 million passengers at the three Veneto airports, marking a 3.1% increase compared to the previous year, and 10.5 million passengers at Charleroi, 12% increase compared to the same period. In the first half of 2025, the Veneto airports reported a further 5.2% increase, with Venice confirming its central role as Italy’s third intercontinental hub; Charleroi grew by 7%.

“This transaction represents, for us, the next step of an infrastructure journey that we initiated with a clear vision twenty-five years ago, leading to the successful creation of the North-East Airport System as well as our participation in Charleroi Airport. Partnering with a leading international player such as Ardian allows us to share new growth ambitions, while reinforcing our commitment to the regions where we operate and to the social and economic communities we serve. I am confident that this deal, carried out alongside Finint Infrastrutture SGR — which is positioning itself as a new player in the national and European infrastructure investment scene — is fully aligned with the broader strategic framework of a sector that demands the strength of solid, long-term investors”. Enrico Marchi, Founder of Finanziaria Internazionale Holding and President of Save Group

“This transaction reflects our strong confidence in Save’s future and in the strategic role of the airports man-aged by the Group, which serve both as a gateway and a showcase for the cities that are symbols of Eu-ropean culture and economy. It also reaffirms Ardian’s strong interest in both the Italian market and the sec-tor. We will work closely with the company’s management team and the relevant institutions to support the sector’s development, while continuing to deliver and enhance excellent services for passengers, airlines and local communities. We are pleased to start this new phase of the company’s growth alongside Finint.” Mathias Burghardt, Executive Vice President, CEO of Ardian France and Head of Infrastructure, Ardian

“We are particularly proud to have been part of a transaction of strategic importance for the Italian airport sector. Our goal, together with our partner Finint Infrastrutture, is to further strengthen and enhance Save’s position as a leading airport operator in Italy, with Venice Airport serving as a key driver for the tourism’s growth and for the local and national economy and in Belgium with the strategic shareholding in Charleroi. Alongside our partner and the management of the Group, we will support the company on its continued path of sustainable growth, reinforcing its long-term competi-tiveness, consolidating collaboration with local stakeholders, and contributing to the sector’s transition to-wards decarbonization”. Rosario Mazza, Senior Managing Director and Head of Infrastructure Italy, Ardian

“The creation of Finint Infrastrutture SGR marks an innovative step for Italian asset management. Our goal is to equip the country with modern, efficiently managed infrastructure while creating value for investors. Finint Infrastrutture SGR emerges as a new player in Italy and Europe’s infrastructure investment landscape, starting with the airport sector and beyond. This transaction is the first significant step in a broader growth path, look-ing ahead with ambition and a clear industrial vision.” Fabrizio Pagani, President, Finint Infrastructure SGR

“I am very pleased with this transaction, which, in continuity with what we have achieved so far, posi-tions the Group for growth process both in Italy and abroad, while reaffirming our strong commitment to environmental, economic and social sustainability in the regions where we operate.This agreement was made possible thanks to the strong expertise of our management team and the commitment of all our people, who over the years have embraced the principles of responsibility that guide our work, turning them into a meaningful and effective customer experience for the passengers at our airports”. Monica Scarpa, CEO, Gruppo Save

The Finanziaria Internazionale Group has gained extensive experience in the infrastructure sector be-yond airports, having invested in multi-utilities and healthcare, as well as indirectly through SAVE in Cen-tostazioni alongside Ferrovie dello Stato, and in the motorway sector.

Through its direct infrastructure investment activities, Ardian has built significant experience in the airport sector, playing a key role in driving growth in Italy and Europe. Last July, Ardian completed the acquisi-tion of an additional 10% stake in Heathrow Europe’s leading airport, increasing its total holding to 32.6%.

In Italy, Ardian has been an indirect shareholder of the airports of Milan Linate, Milan Malpensa, Na-ples, Turin and Trieste. During the investment period, Ardian supported the growth and sustainable de-velopments of the platform, leading a number of innovative initiatives.

Mediobanca and Intesa Sanpaolo – IMI Corporate & Investment Banking acted as financial advisors to Ardian, while Finint Infrastrutture, was supported by Banca Finint and Goldman Sachs Bank Europe SE Italy Branch.  Clifford Chance and Chiomenti assisted the consortium as legal advisors.

Completion of the transaction remains subject to the approval of the relevant regulatory authorities.

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $192bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and foster-ing a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance com-bined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT FININT INFRASTRUTTURE SGR

Società di Gestione del Risparmio S.p.A., based in Venice and controlled by Finanziaria Internazionale Holding S.p.A., was authorized in 2023 to operate as an asset manage-ment company under Italian law. In addition to the launch and management of the Marco Polo Fund, the firm focuses on managing reserved Italian and EU alternative investment funds (AIFs), open exclusively to professional investors. Its goal is to establish closed-end funds investing primarily in airport and aviation infrastructure, transport infrastructure such as railways, ports and toll roads, energy infrastructure, as well as specialized sectors includ-ing data centers, fiber optic networks and social and healthcare infrastructure. Finint Infrastrutture is part of Finanziaria Internazionale Holding’s forty years of experience in asset management.

www.infrasgr.com

Press contact

Ardian

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ardian@imagebuilding.it 

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FININT INFRASTRUTTURE

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Giovanna.benvenuti@community.it 

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Apollo Names Eiji Ueda Head of Asia Pacific as Firm Marks 20 Years in Region

Apollo logo

Appointment opens a new chapter in Apollo’s next phase of growth: expanding capital, wealth and retirement solutions across the region

TOKYO and NEW YORK, Oct. 15, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced Mr. Eiji Ueda has been named a Partner and Head of Asia Pacific, succeeding Matt Michelini. Michelini, who has spearheaded Apollo’s rapid expansion across the region since his appointment in 2022, will remain in region to oversee Ueda’s transition before assuming broader leadership responsibilities with the firm next year.

Ueda joins Apollo with demonstrated investment expertise and a nuanced understanding of Asia’s evolving needs. He most recently served as Chief Investment Officer of Japan’s Government Pension Investment Fund (GPIF), one of the largest institutional investors globally, where he led a strategic portfolio restructuring to deliver positive results through unprecedented market volatility. Previously, he spent nearly three decades with Goldman Sachs holding positions across major financial centres, including Head of Fixed Income Trading and Head of Fixed Income, Currency and Commodities (FICC) in Tokyo as well as Co-Head of Securities, Asia, based in Hong Kong. He also served as a member of Goldman’s Asia Pacific Management Committee, Firmwide Risk Committee and Chair of the Asia Pacific Risk Committee.

“Asia Pacific is key to Apollo’s next chapter of growth,” said Jim Zelter, President of Apollo. “Fundamental shifts in the region’s economies are creating a surge in demand for not just capital, but for more integrated financial solutions across capital, wealth and retirement. We believe Apollo’s full platform, including our origination ecosystem, is well-positioned to meet these needs. Ueda’s track record of innovation, disciplined risk oversight and cross-asset management will enable us to continue scaling with conviction and understanding of local markets.”

“Apollo is bringing something new to Asia: beyond global investment expertise underpinned by local sensitivity, the firm goes further to deliver wealth and retirement solutions others may find hard to build,” said Ueda. “Asia’s demographics, savings base and capital gaps present one of the most compelling growth arcs in the world. I am excited to join the team and help position Apollo as the partner of choice across that entire continuum.”

“It has been a privilege to lead Apollo’s Asia growth over the past several years,” said Matt Michelini. “Together, we have assembled an incredibly talented team, built out our core capabilities in credit, hybrid capital, wealth and retirement solutions and established strategic partnerships that are unlocking new opportunities the region needs. Ueda’s appointment signals both continuity and evolution, and I look forward to partnering with him as we enter Apollo’s next stage of growth.”

Since 2022, Apollo’s Asia Pacific business has grown from 80 to over 150 professionals, spanning the region to deliver the firm’s leading capabilities across private investment grade credit, hybrid capital, wealth, retirement and insurance. Apollo’s approach in Asia reflects its broader strategy: long-term focused, structurally flexible and built on partnership and alignment. The firm has originated over $11 billion over the past twelve months — more than ten times the amount originated in 2020. Apollo’s retirement services business Athene has grown rapidly, reinsuring close to $19 billion in policy value to date. With strategic partnerships in Australia, Japan, Greater China and Korea, the firm has matched global scale to regional opportunities in support of growing demand for private market access and reliable income solutions.

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.

Forward-Looking Statements
In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

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

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

Categories: People

SnelStart announces partnership with BU Bregal Unternehmerkapital to accelerate growth and expand market leadership

Bregal unternehmerkapital

Zug / Alkmaar, October 14, 2025 – SnelStart, a family-owned and managed company and market leader for financial management software to accounting/bookkeeping offices, small businesses and freelancers in the Netherlands, announces a new partnership with BU Bregal Unternehmerkapital (“BU”), a leading entrepreneurial capital provider to family businesses and mid-market firms.

With a diversified customer base of nearly 170,000 clients, including over 5,000 accounting offices, SnelStart has built its strong market position through a highly customer-centric go-to-market and continuous innovation, guided by its vision to help entrepreneurs to grow in an increasingly complex digital world.

The strategic partnership is built on a joint vision to further strengthen SnelStart’s market leadership, accelerate innovation, and deliver even more value to customers through technology, service and operational excellence. Together, SnelStart and BU aim to expand the company’s reach, advance its product platform, and continue setting high standards in user experience and customer satisfaction.

Herman Weessies, co-owner and CEO of SnelStart, commented: “Finding the right partner for SnelStart’s next growth phase was very important for us as a family business. I was not looking for only a capital provider, but for a partner who could help us stay independent and continue to build the platform we build for our entrepreneurs. A partner who truly understands entrepreneurs – one who shares our values, believes in long-term development, and puts customers at the center of everything. With BU, we found exactly that: a partner with deep software expertise, a strong track record with family-owned businesses, and a collaborative mindset focused on sustainable growth. Together, we are ready to take SnelStart to the next level.”

Norbert Heller, Partner at BU, added: “SnelStart is a remarkable company that has embarked on an impressive growth trajectory, driven by a highly entrepreneurial leadership with a clear vision and strong customer focus. We are convinced of the company’s potential and look forward to supporting its continued success. With our software expertise, hands-on partnership approach, and long-term perspective, we aim to help accelerate SnelStart’s development and strengthen its position as a market leader with a growing and satisfied customer base. We are inspired by the passion and dedication of Herman and his team and are proud to accompany them on this journey.”

Philipp Struth, Partner at BU, explains: “BU has been active in the Dutch market for over eight years, supporting our partner companies in their growth ambitions in the region. With SnelStart, we are now taking the next step with bringing our deep expertise in unlocking the potential of market leaders into a growth partnership that originates in the Netherlands. The country is home to many excellent hidden champions striving to reach their next level – and BU is well prepared to support them on that journey.”

The partnership remains subject to the completion of the advice procedure of SnelStart’s works council and satisfaction of the required regulatory filings and procedures.

About SnelStart

Founded in 1982 with several offices across the Netherlands, SnelStart is a strongly growing software solutions provider that develops intuitive financial management and bookkeeping software tailored to freelancers, small businesses, and accounting firms. With over four decades of experience, SnelStart helps nearly 170,000 entrepreneurs simplify their financial processes, improve efficiency, and gain clearer insights into their business performance.

About BU

BU Bregal Unternehmerkapital (“BU”) is a leading investment firm with offices in Zug, Munich, Milan and London. With more than €7bn in Assets under Management, BU is the largest mid-cap investor headquartered in the DACH region. With the mission to be the partner of choice for entrepreneurs and family-owned businesses, BU seeks to partner with market leaders and “hidden champions” with strong management teams and breakout potential. Since its founding in 2015, the funds advised by BU have invested in more than 150 companies with more than 29,000 employees. Thereby, around 10,000 jobs have been created. BU supports entrepreneurs and families as a strategic partner to develop, internationalize, and digitize their businesses, while helping them generate sustainable value on a responsible basis with the next generation in mind.

Categories: News

Uniconta brings growth partner BU on board and intensifies European expansion

Bregal unternehmerkapital

Zug / Copenhagen, October 14, 2025: Uniconta A/S, a leading Danish provider of a cloud-based, all-in-one accounting and Enterprise Resource Planning (ERP) system for small and medium-sized businesses, is about to accelerate its international expansion with the help of BU Bregal Unternehmerkapital (“BU”).

Funds advised by BU have acquired a majority stake in the company, including its two distributors in Germany and the Netherlands. Uniconta”s founder Erik Damgaard will remain a significant shareholder with a large equity stake and, as CTO, will continue to lead the development of Uniconta. Together, the new partners aim to further fuel Uniconta”s strong success in its home market Denmark, and to further accelerate its growth story into other European countries, with the goal to become a major player there as well.

Uniconta was founded in 2015 by IT entrepreneur Erik Damgaard and today is used in more than 45,000 companies in 67 countries. Its ERP system has been continuously adapted to master new challenges and has maintained state-of-the art status throughout its existence. As a modern, cloud-based system it tracks finances, inventory, projects, production and logistics data, as well as helping small and medium-sized businesses become more digital. The system offers a highly customizable user experience, allowing clients to display the fields, tables and screens most relevant to their use case. In 2017, Uniconta received DKK 60 million in new equity funding from Danish pension fund AkademikerPension to accelerate its growth in the Danish market.

“In Denmark, we have been very successful in rolling out our cloud-based ERP solution and have built an excellent market position”, explains Erik Damgaard. “Now it is time to enhance our footstep in countries like Germany and the Netherlands where we are already present with solutions tailored to local legislation. In BU, I have found the best partner for driving our growth in Germany and the Netherlands, while also continuing our momentum in the Danish market.”

Dr. Stephan Schmid, Partner at BU, says: “Danish firms are widely admired for their digital excellence, and innovative ERP systems like Uniconta are a big part of that success. We see great potential for the product to replace outdated systems in the market and thus help businesses to digitize in other countries as well. Together with Erik and his team, we have identified particularly strong potential in markets like Germany and the Netherlands, and we are very excited to support of Uniconta”s ambition with our deep sector knowledge, network and capital”.

About Uniconta A/S

Uniconta A/S was founded in 2015 by IT entrepreneur Erik Damgaard. The company develops and sells the cloud-based, all-in-one accounting and ERP system Uniconta, which is targeted at small and medium-sized businesses. Today, Uniconta”s solutions are used in 67 countries by more than 45,000 companies. Erik Damgaard was also a co-founder of Damgaard Data in 1984, which was sold to Microsoft in 2002 for a multi-billion DKK sum.

About BU

BU is a leading European investment firm with offices in Zug, Munich, Milan and London. With more than €7bn in Assets under Management, BU is the largest mid-cap investor headquartered in the DACH region. With the mission to be the partner of choice for entrepreneurs and family-owned businesses, BU seeks to partner with market leaders and Hidden Champions with strong management teams and breakout potential. Since its founding in 2015, the funds advised by BU have invested in more than 150 companies with more than 29,000 employees. Thereby, around 10,000 jobs have been created. BU supports entrepreneurs and families as a strategic partner to develop, internationalize, and digitize their businesses, while helping them generate sustainable value on a responsible basis with the next generation in mind.

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BOND Launches Exclusive Aviation Club for the Premium Private Flyer with $350M Investment Led by KKR

KKR

Powered by Bombardier Aircraft and Services, BOND Offers Fractional Ownership of Factory-New Super Mid- and Large Cabin Challenger 3500, Global 6500 and Global 8000 Aircraft

First-Of-Its-Kind Service Agreement with Bombardier Ensures Industry-Leading Reliability and On-Time Performance

With Support from KKR and Select Group of Founding Partners, BOND Creates A New Category in Private Aviation Defined By Unsurpassed Quality, High-Touch Service, Capital-Efficient Ownership, and Lowest Owner-to-Aircraft Ratio in the Industry

NEW YORK–(BUSINESS WIRE)–BOND, the world’s first premium fractional aviation company, today announced the close of $320 million in preferred equity and debt financing led by credit funds and accounts managed by leading global investment firm KKR, with $30 million of equity funding from a select group of founding partners. In a market where demand for private flying is at record highs and fractional ownership is outpacing every other category of business aviation, BOND introduces a model built for premium private flyers who value exclusivity over scale.

Launched in strategic collaboration, with a fleet composed exclusively of Bombardier aircraft, BOND introduces “Fractional 2.0” – ownership for a new generation of private flyers who expect reliability, service excellence, and capital-efficient ownership. The company’s $1.7 billion firm order and services agreement includes 50 factory-new Challenger 3500 and Global 6500 aircraft and options for 70 more Challenger and Global planes. With those additional aircraft, BOND’s Bombardier purchase could exceed $4 billion in value.

BOND’s agreement with Bombardier also creates a first-of-a-kind, fully integrated OEM–operator service agreement to maximize uptime and provide exceptional operational reliability. The relationship ensures BOND members benefit from Bombardier’s U.S. service network, and on-site maintenance resources dedicated solely to the BOND fleet.

With its launch, BOND will introduce the first 100-percent super-midsize and large-cabin fractional fleet in private aviation, creating a category built entirely around long-range comfort, precision, and availability. It will also operate the first 100% flight-attended fleet in fractional aviation, redefining service standards and delivering a level of personalization unmatched in the industry.

Led by industry veteran Bill Papariella, Chairman and Group CEO, BOND’s leadership team brings decades of operational experience with a record of delivering strong performance and managing complex aviation operations.

Alongside KKR, the company also launches with the support of a select group of large family office founding partners. Together, their perspective as sophisticated investors and flyers helps ensure BOND is built around the needs of the customers it is designed to serve.

“We created BOND to deliver on the promise of what private aviation was always meant to be — personalized, predictable, and with exceptional levels of service,” said Bill Papariella, Chairman and Group CEO of BOND. “We are not building for scale. We are building for the select few who expect service perfection every time they fly.”

“We are proud to collaborate with BOND and its proven leadership team led by Bill Papariella, whose vision and track record in private aviation are well recognized,” said Éric Martel, President and CEO, Bombardier. “This agreement goes beyond an aircraft order, it marks a first-of-a-kind, uniquely integrated service collaboration. BOND’s confidence in our top-ranked global service network reinforces our position as the benchmark for reliability, responsiveness and customer support, delivering the peace of mind that only Bombardier can provide.”

“We are thrilled to build on our longstanding relationship with Bill and his team as they launch BOND,” said Patrick Clancy, Director at KKR. “We believe BOND represents the next evolution in private aviation – a model that prioritizes quality, service, and efficiency over scale. This team’s proven track record, coupled with the strength of the Bombardier collaboration, makes BOND well positioned to set a new standard for premium private travel.”

A Model Designed for Best-in-Class Reliability and an Unrivaled Customer Experience

Key elements of BOND’s model include:

  • Fewer owners per aircraft, limited to 10 per aircraft which is lowest in the industry
  • Exclusive fleet, reserved only for fractional owners – no jet-cards or charter dilution
  • Standby capacity increasing reliability, with reserved aircraft pre-positioned to cover peak customer demand
  • First-of-a-kind OEM service agreement, backed by dedicated resources in Bombardier’s top-rated network
  • Flight attendants on every flight, including super-midsize jets, an industry first
  • The highest-paid and most experienced pilots
  • 100% Super-mid and Large Cabin fleet
  • Evergreen membership with an intelligent capital efficient design

Members will begin flying in early 2027. For more information, please visit www.bond.co

 

About BOND

BOND is the world’s first premium fractional aviation company. Through a first-of-its-kind, fully integrated OEM–operator service agreement with Bombardier, BOND defines a new category in private aviation built on unsurpassed quality, high-touch service, capital-efficient ownership, and the lowest owner-to-aircraft ratio in the industry.

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.

Contacts

BOND@trailrunnenrint.com

 

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Defense Tech Unicorn Govini Surpasses $100 Million ARR Milestone

BainCapital

$150 million growth investment positions the Company to continue to expand its market leadership and accelerate innovation

ARLINGTON, Va. – Oct. 13, 2025 – Govini, the software leader in transforming the Defense Acquisition process, today announced that it surpassed $100 million in ARR and secured a $150 million growth investment from Bain Capital, which will allow the company to continue to expand its product offerings, grow its team of technologists and defense experts, and enhance its best-in-class data capabilities to meet exploding demand across the national security community.

“I founded Govini to create an entirely new category of software built to transform how the U.S. government uses AI and data to make decisions,” said Govini Founder and Executive Chairman Eric Gillespie. “After methodically developing our proprietary technology, that vision is now a reality. This investment validates not just the current position achieved by our incredibly talented team, but also our long-term goal of fundamentally rewiring how defense and national security communities make decisions with AI and data.”

Govini’s flagship product, Ark, is a suite of AI-enabled applications trusted by every department of the U.S. military and other federal agencies. Powered by Govini’s proprietary National Security Knowledge Graph, Ark accelerates workflows across the entire spectrum of Defense Acquisition including Supply Chain, Science & Technology, Production, Logistics, Sustainment, and Modernization.

“National security today is defined by speed—speed to build, to adapt, to fight,” saidGovini CEO Tara Murphy Dougherty. “Our software delivers that speed, replacing slow, archaic acquisition processes with a system built for modern competition. By equipping the Department of War with the capabilities to outpace, out-innovate, and out-fight those who threaten us, we are turning the outdated acquisition system into a force multiplier that delivers decisive advantage. This capital ensures we can scale rapidly to meet the surging demand for our products, which gives the United States the edge it needs to win.”

The investment comes at a time when Defense Acquisition is increasingly recognized as critical to America’s national security posture. Govini’s software-first approach combines cutting-edge AI technology with unmatched defense data to solve acquisition challenges that have plagued the Department of War for decades.

“We’re thrilled to support Govini’s next phase of growth as it continues to revolutionize how the U.S. government acquires and deploys the capabilities that keep us safe. Govini sits in a completely unique position at the intersection of national security, data, and software—areas that are increasingly vital to America’s strategic interests,” said Scott Kirk, Partner at Bain Capital Tech Opportunities. “The company’s proven platform and dominance of this category position it as an indispensable partner to defense and civilian agencies alike.”

This coincides with a series of expanded deployments across the DoW, U.S. intelligence community, and other national security agencies, reaffirming Govini’s position at the forefront of transforming Defense Acquisition into a platform for sustained military readiness and American global leadership. These include a 5-year DoW-wide contract from the U.S. Army, a $50 million award from the Office of the Under Secretary of War for Acquisition & Sustainment (OUSW A&S), an extension of Govini’s support for the Minuteman III program, Impact Level 5 Authority to Operate (IL5 ATO) for three military departments, and a $919 million government-wide supply chain risk illumination contract sponsored by OUSW A&S.

About Govini

Govini builds software to accelerate the Defense Acquisition Process. Ark, Govini’s flagship product, is a suite of AI-enabled applications, powered by integrated government and commercial data, that solves problems across the entire spectrum of Defense Acquisition, including Supply Chain, Science & Technology, Production, Logistics, Sustainment, Modernization. With Ark, the Acquisition community eliminates slow, manual processes and gains the ability to rapidly imagine, produce, and field critical warfighting capabilities. Ark transforms Defense Acquisition into a strategic advantage for the United States.

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Kailera Therapeutics Announces $600 Million Series B Financing to Further Advance Pipeline of Next-Generation Therapies for the Treatment of Obesity

BainCapital

  • Financing led by new investor Bain Capital Private Equity with participation from new and existing investors to support continued development of a differentiated, late-stage portfolio of obesity treatments
  • Proceeds support advancement of KAI-9531, an injectable GLP-1/GIP dual agonist with potentially best-in-category weight loss, to global Phase 3 trials by year end
  • Kailera continues to progress clinical development across its broader pipeline of oral and injectable obesity therapies

Waltham, Mass., October 14, 2025 — Kailera Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on advancing a differentiated, late-stage portfolio of next-generation therapies for the treatment of obesity, today announced a $600 million Series B financing led by new investor Bain Capital Private Equity.  The financing will be fully funded at closing and will support the advancement of Kailera’s leading obesity portfolio, including a global Phase 3 clinical program of Kailera’s lead candidate KAI-9531, an injectable dual GLP-1/GIP receptor agonist with potentially best-in-category weight loss.

Additional new investors in the Series B round comprise leading mutual funds and investors, including Adage Capital Management LP, Canada Pension Plan Investment Board (CPP Investments), Invus, Janus Henderson Investors, Perseverance Capital, Qatar Investment Authority (QIA), Royalty Pharma, Surveyor Capital (a Citadel company), accounts advised by T. Rowe Price Associates, Inc., and an undisclosed large mutual fund. Kailera’s existing investors, Atlas Venture, Bain Capital Life Sciences, RTW Investments, and Sirona Capital, also participated in the round.

Kailera completed End-of-Phase 2 meetings with the U.S. Food and Drug Administration (FDA) and plans to initiate its global Phase 3 program by year end. The Phase 3 program will include two trials in adults living with obesity or overweight with comorbidities, with and without type 2 diabetes, and an additional trial in adults living with a BMI of 35 or higher.

“We are excited to welcome our new investors and extend sincere appreciation to our current investors for their continued confidence in our vision,” said Ron Renaud, President and Chief Executive Officer, Kailera. “With an increasing global population affected by obesity and limited options for those living with higher BMIs, the need for effective treatment options has never been greater. With this funding, we will accelerate the advancement of our pipeline, including our lead program KAI-9531 that has the potential to deliver substantial weight loss for people living with obesity.  We look forward to starting our global Phase 3 trials of KAI-9531 by the end of this year—marking a pivotal step in our mission to deliver therapies that empower people with obesity to transform their health and live fuller, healthier lives.”

The financing will also advance KAI-7535, an oral small molecule GLP-1 receptor agonist that demonstrated competitive weight loss in a Phase 2 clinical trial in China, to global clinical trials. Additionally, the company continues to progress its earlier stage programs, KAI-4729, an injectable GLP-1/GIP/glucagon receptor tri-agonist, and KAI-9531 formulated as a once-daily oral tablet.

Beyond its current pipeline, Kailera has certain rights to new formulations of licensed products and rights of first refusal over selected assets in Hengrui’s metabolic disease portfolio.

“Kailera is uniquely positioned to make an impact beyond the current market leaders with a lead asset poised to set the bar for the next generation of obesity treatments. The company’s broader portfolio – spanning diverse mechanisms of action and routes of administration – further supports its potential to be a leader in obesity care,” said Chris Gordon, Partner and Global Co-Head of Bain Capital Private Equity.  “We are impressed with the significant progress Kailera has made in just one year, having assembled a world-class, experienced team while successfully executing critical steps to advance its differentiated and broad pipeline of obesity treatments. We’re proud to join this high-caliber investor syndicate in supporting their mission to address one of the most pressing global health challenges,” added Andrew Kaplan, Partner at Bain Capital Private Equity.

In conjunction with the financing, Mr. Kaplan will join Kailera’s Board of Directors. The closing of the transaction is subject to customary closing conditions.

About Kailera Therapeutics 
Kailera Therapeutics (Kailera) is developing a broad, advanced, and differentiated portfolio of clinical-stage injectable and oral therapies for the treatment of obesity. Kailera’s most advanced program, KAI-9531 (being developed in China as HRS9531), is an injectable dual GLP-1/GIP receptor agonist that has demonstrated positive clinical trial results in obesity in China. The Company is also advancing a diversified pipeline leveraging several mechanisms of action and routes of delivery. Kailera’s mission is to develop next-generation weight management therapies that give people the power to transform their lives and elevate their overall health. The Company is based in Waltham, MA and San Diego, CA. For more information, visit www.kailera.com and follow us on LinkedIn and X.

 

Media Contacts

 Scott Lessne / Charlyn Lusk

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Ecorobotix Secures $150M to Accelerate AI-Powered Plant-by-Plant™ Care, Unveiling New Innovation at Agritechnica

ECBF

Yverdon-les-Bains, Switzerland – 13 October 2025 – Ecorobotix, the global leader in AI-powered Ultra-High Precision (UHP) spraying, is driving the future of sustainable agriculture with innovations that improve crop health and efficiency. Building on rapid growth, proven field results, and a strong financial foundation with $150 million raised in Series C ($45m, 2024) and Series D ($105m, 2025), the company will present its latest advancements at Agritechnica this November in Hanover.

Central to Ecorobotix’s momentum is its Plant-by-Plant™ AI technology, which can distinguish and treat each individual plant with unmatched precision, using a spray footprint of just a few centimeters. This approach reduces the use of pesticides and other crop protection products by as much as 95% while maintaining effectiveness. For growers, the benefits are far-reaching: the safe use of non-selective products, lower input costs, compliance with increasingly strict regulations, and ultimately, higher yields.

Fueling Innovation Through Investment
These new advances are made possible thanks to the company’s strong backing from global investors. The Series D round was led by Highland Europe, one of the continent’s top venture capital funds, with ECBF and McWin Capital Partners also joining as new investors.

 “These latest investment rounds have allowed us to accelerate our innovation, expand into new crop types, broaden our product range, and bring our advanced crop algorithms to market faster,” said Dominique Mégret, CEO of Ecorobotix. “Thanks to the trust of our investors, we are scaling a proven solution to help deliver better-quality food for the world.”

Showcasing New Innovation at Agritechnica 2025
This November at Agritechnica, Ecorobotix will unveil its latest innovation, setting a new standard for crop protection worldwide.
“Farmers today face rising costs, labor shortages, and pressure to reduce inputs while still producing more food,” added Mégret. “Our new innovation takes precision even further to help them meet those challenges.” 

About our New Investors

Highland Europe
Highland Europe invests in exceptional growth-stage technology and consumer companies. Formally launched in 2012, Highland Europe has raised over €2.75 billion. Highland’s collective history of investments across the US, Europe and China includes 45+ IPOs, 150+ M&A exits and 40 billion-dollar-plus companies.

ECBF
The European Circular Bioeconomy Fund (ECBF) is the leading venture capital fund dedicated to accelerating Europe’s transition to a sustainable, circular bioeconomy. With €300 million under management, ECBF invests in growth-stage companies. As an Article 9 SFDR fund, ECBF combines rigorous ESG standards with deep industry expertise to scale impactful innovations.

McWin Capital Partners
McWin Capital Partners (“McWin”) is a specialist private equity and venture capital firm, dedicated to the food ecosystem. With deep industry expertise across three business segments; Food Tech, Foodservice and Restaurants, McWin’s purpose is to lead the food industry through positive change and create value on behalf of investors and portfolio companies of the McWin Funds by leveraging its scale, network and experience to deliver outstanding returns.

Ecorobotix also acknowledges the vital support of its long-term partners such as 4FOX Ventures, AQTON, BASF Venture Capital, Capagro, Cibus Capital, Flexstone Partners, Fondation Domaine de Villette, Meritech, Stellar Impact, Swisscanto, Swisscom Ventures, and Yara Growth Ventures.

About Ecorobotix
Ecorobotix is a Swiss B Corporation® certified company whose mission is to transform agriculture through artificial intelligence and ultra-precise spraying technologies. With more than 25 crop algorithms now supported, its flagship product, ARA, is the world’s most versatile ultra-high-precision sprayer, capable of targeting specific crops as well as different types of weeds. Present in more than 20 countries in Europe, the Americas, and Oceania, Ecorobotix is redefining the standards of sustainable crop protection.

Press contact | ECBF Management GmbH
Cornelia Mann | pr@ecbf.vc| +49.160.892.774.4

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KKR Completes Acquisition of OSTTRA From S&P Global and CME Group

KKR

October 10, 2025

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that investment funds managed by KKR have completed the acquisition of OSTTRA, a leading provider of post-trade solutions for the global OTC market, from S&P Global and CME Group. The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion.

Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.

Guy Rowcliffe and John Stewart will continue to lead the OSTTRA management team. Building on OSTTRA’s strong foundation as a trusted provider of critical market infrastructure, KKR will support the Company’s customer-centric growth by increasing OSTTRA’s investments in technology and innovation across its leading post-trade solutions platform.

KKR will also support OSTTRA in creating a broad-based equity ownership program to provide all of the company’s nearly 1,500 employees the opportunity to participate in the benefits of ownership.

Goldman Sachs & Co. LLC and BofA Securities, and Simpson Thacher & Bartlett served as financial and legal advisors, respectively, to KKR. Barclays served as financial advisor and Davis Polk served as legal advisor to S&P Global. Citi served as financial advisor and Skadden served as legal advisor to CME Group.

About OSTTRA

OSTTRA provides critical post trade infrastructure to global financial markets. Launched in 2021 through the combination of four businesses that have been at the heart of Post Trade innovation for more than 20 years (MarkitServ, Traiana, TriOptima and Reset), the OSTTRA network connects thousands of market participants to process millions of trades each day, streamlining end to end workflows – from trade capture and confirmation, through portfolio optimisation, to clearing and settlement. For additional information, please visit www.osttra.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.

Media

OSTTRA:
Ted Harvey
+447515961906
osttra@aspectusgroup.com

KKR:
Lauren McCranie
212-750-8300
media@kkr.com

Source: KKR

 

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