Terminal One Welcomes Port Authority Decision to Redevelop JFK Terminal One as Part of Advancing Airport’s Ambitious Vision Plan

Carlyle

  • Strong commitment to inclusion and labor participation with unprecedented focus on diversity and MWBE opportunities throughout the project targeting a 30% goal
  • Featuring world-class architecture, security, shopping and convenience
  • Establishing an Airport Academy to train local workers in airport operations and management
  • New terminal will be fueled by a target of 100% renewable energy

New York, NY – The Terminal One Team, comprising Terminal One Group Association (TOGA) and its world-class team of operating and financial partners, today welcomed the Port Authority of New York and New Jersey’s decision to move forward with the redevelopment and expansion of John F. Kennedy (JFK) Airport’s Terminal One in accordance with Governor Cuomo’s Vision Plan for JFK. Terminal One Group Association comprises Air France, Lufthansa, Korean Air and Japan Airlines – all of which partnered in 1994 for the original development of Terminal One at JFK. TOGA is joined by a world-class team of operating and financial partners to help deliver one of the largest public-private partnership projects in America. The TOGA team is an innovative coalition of airlines, labor, minority- and women-owned businesses and strong financial partners that includes: The Carlyle Group, together with its dedicated airport platform, CAG Holdings, JLC Infrastructure, Ullico and Munich Airport International.

“The TOGA airlines are committed to providing world-class levels of service to the people of New York State and New York City. The TOGA partner airlines have been serving JFK for more than 60 years,” said Arthur Molins, Managing Director for TOGA. “We have demonstrated our commitment to the New York market for decades, are confident in its growth potential and look forward to our sustained presence here well into the future.”

“Governor Cuomo has thrashed all the myths about minority participation in major infrastructure projects by insisting on a 30 percent standard throughout the project,” said Earvin “Magic” Johnson, co-founder of JLC Infrastructure. “The old excuses – there are not enough minority contractors, not enough minority financing, not enough minority entrepreneurs – have all been tossed out the window with this project.” JLC Infrastructure is a Port Authority-certified minority owned business and will provide financing for the project.

The new Terminal One will encompass 3 million square feet of terminal space on what is now Terminal One, Terminal 2 and the site of the former Terminal 3 – with 23 new gates (potentially increasing to 27) and additional aircraft parking positions, providing significant additional capacity for millions of passengers.

The Terminal’s architecture will be a unique and iconic gateway, inspired by New York City and all it offers; one such upgrade will be the arrivals corridor, which draws from New York City’s High Line, and will make a grand first impression with clear views of the city’s iconic skyline. The new terminal will bring the current AirTrain inside the facility, improving access and convenience, while offering family-friendly play areas, indoor parks and best-in-class concessions with a strong local Queens flavor.

The facility will offer a seamless, state-of-the-art security experience, cutting down on wait times and providing a more advanced screening process, along with a top-of-the-line baggage claim process to allow passengers to move quickly through the terminal. The new, cutting-edge screening technology will be highly adaptable to combat the ever-evolving threats faced by airports.

The Terminal One Team has also committed to environmental sustainability for its redevelopment of JFK. The redevelopment will reduce energy use in the terminal by 30 percent and switch to 50 percent renewable energy with a target of up to 100 percent renewable energy by 2025. The new terminal will also implement 100 percent composting of organic waste and recycling of inorganic waste.

Construction is expected to begin in early 2020 and finish during the second half of 2025, with the new terminal opening in phases to ensure uninterrupted gate capacity and a seamless transition.

“This project will put thousands of union members to work for a long period of time. With union investment in this deal, this is a partnership model that works for workers, management and investors. The Terminal One Team, in line with the objectives outlined by Governor Cuomo and the Port Authority, went the extra mile to make sure this project is a winner for all parties,” said Edward Smith, President and CEO for Ullico Inc.

The Terminal One Team has also made the JFK community an important element of its plan, including a preference for local businesses, jobs for local residents and quarterly job fairs for New Yorkers, paving paths to permanent employment and community development. In addition, the team is establishing an Airport Academy at JFK to help Queens and regional residents learn the skills needed to work in airport operations, whether at JFK, LaGuardia or anywhere in the world.

“We’re supporting TOGA to deliver a world-class travel experience,” said Peter Taylor, Co-Head of Carlyle’s global infrastructure fund. “TOGA has partnered with Labor and Minority- and Women-Owned Business Enterprises (MWBE), including capacity building and training. TOGA’s MWBE goal is throughout the project, from engineering and architecture, to financial and legal as well as construction.”

“JFK is the world’s gateway to New York and the United States’” added Amit Rikhy, CEO of CAG Holdings. “Working with TOGA, our collaborative, local and world-class team and plan will deliver a redeveloped Terminal One that is part of the unified, interconnected and premier airport New Yorkers deserve.”

See our video here: https://www.carlyle.com/media-room/corporate-videos/ready-fly-%E2%80%93-one-jfk

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About TOGA

TOGA is a New York-based limited partnership of four international airlines: Air France, Japan Airlines, Korean Air and Lufthansa. TOGA was originally formed in 1994 and entered into a long-term Site Lease with the Port Authority of New York & New Jersey to finance, construct, maintain and operate a new passenger terminal facility at JFK, now known as Terminal One. The Terminal is home to the four TOGA Airlines plus 19 other international airlines and is on pace to process approximately 7.7 million passengers to over 38 nonstop international destinations in 2018.  With 10 international gates, Terminal One has been operated by TOGA since May 1998 and is one of only two terminals at JFK that can serve the Airbus 380 superjumbo aircraft.

For media inquiries, contact Arthur Molins at arthur.molins@dlh.de or at +1 516 296 9234.

About The Carlyle Group and CAG Holdings

The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with approximately $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

CAG Holdings is The Carlyle Group’s dedicated US-based investment platform for airport infrastructure investment opportunities globally. CAG Holdings is led by an experienced management team with a track record of over 70+ airport projects globally combined with a deep, localized understanding of the US airport market.

For media inquiries, contact Chris Ullman at chris.ullman@carlyle.com or at +1-202-729-5450.

About JLC Infrastructure

JLC Infrastructure is an investor and asset management firm focused on the transportation, communications, energy, utilities and social infrastructure sectors in the United States. The firm was formed in 2015 by Loop Capital and Magic Johnson Enterprises and currently manages investments in the redevelopments of Terminal B at LaGuardia Airport and Jeppesen Terminal at Denver International Airport (the Great Hall Project).

For media inquiries, contact info@jlcinfra.com.

About Ullico 
For more than 90 years, Ullico, the only labor-owned insurance and investment company, has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members, leaders and employers, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC (Member FINRA/SIPC).; and Ullico Investment Advisors, Inc.

For media inquiries, contact Cori Houlihan at choulihan@ullico.com or at +1 202 354 8044.

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DIF consortium selected as preferred bidder for Belgian Liege tram PPP

DIF

Schiphol, 24 September 2018 – DIF is pleased to announce that the Tram’Ardent consortium has been announced preferred bidder for the availability based public-private partnership contract, involving the design, financing, construction and maintenance of the first tramway line in Liège, Belgium. The consortium consists of DIF Infrastructure V, together with its partners Colas Projects, Colas Belgium, Colas Rail Belgium and Spanish rolling stock manufacturer Construcciones y Auxiliar de Ferrocarriles (CAF). The authority partner is the Walloon Transport Operator.

With a total length of 11.7 km, 90% of which is in a reserved lane section, Liège’s first tramway line will serve 21 stations, connecting the Sclessin multimodal station, in the southwest of Liège, to the city of Herstal, in the northeast, via the high-speed train station and Saint Lambert Square.

The consortium is responsible for the design, financing, construction and maintenance of the tramway. The consortium will be in charge of the design and build of the electrified rail network, the creation of a maintenance and storage centre, and the development of 240,000 m² of surrounding urban space. CAF will, in particular, supply the rolling stock as part of the consortium. Closing is expected before the end of the year and construction is to be completed by the second half of 2022.

The consortium is advised by Natixis (financial) and DLA piper (legal).

About DIF

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

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

DIF has over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu or further information on DIF.

For further information, please contact:

Paul Nash
Partner, Head of PPP/Infrastructure
Email: p.nash@dif.eu

Allard Ruijs
Partner, Head of Investor Relations and Business Development
Email: a.ruijs@dif.eu

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Nordic Capital has sold its remaining holding in Saferoad

Nordic Capital

SEPTEMBER 17 2018
Nordic Capital has sold its remaining holding in Saferoad ImageNordic Capital has divested its remaining shares in Saferoad Holding ASA (“Saferoad”), a European leading provider of road safety and infrastructure solutions.

“Nordic Capital acquired Saferoad a decade ago; since then the company has gone through a substantial expansion and is now positioned for further growth,” says Olof Faxander, Operating Partner, advisor to the Nordic Capital Funds.

At the time of the acquisition in 2008, Saferoad had 1,300 employees in 10 countries and the company was mainly focused on Scandinavia and Eastern Europe.  Since then Saferoad has made several add-on acquisitions and entered new markets. Today, there are 2,800 employees in more than 20 countries across Europe. During Nordic Capital’s ownership period, Saferoad’s revenue has grown from EUR 285 million (2007) to EUR 610 million (2017).

The company was listed on the Oslo Stock Exchange in May 2017 and now the journey will continue under different ownership, as Nordic Capital’s remaining holding was sold to FSN Capital V on September 11, 2018, in connection with a voluntary cash offer to acquire all of the shares in Saferoad.

Saferoad’s business comprises of road signs and technical traffic products, road marking, roadway illumination, road railings and bridge parapets, and rock and tunnel securing. The company plays an important role at various stages throughout new road construction projects and the maintenance or upgrades of existing roads.

“To summarise, Saferoad has transformed into a European market leader in the attractive road safety and infrastructure solutions space. With support from Nordic Capital working closely with the management team, the company has followed a strategy of accretive acquisitions in a fragmented space and a focus on operational improvements. Saferoad has gone far and will now continue its journey further,” says Olof Faxander.

 

Media contact:

Nordic Capital

Katarina Janerud, Communications Manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 About Saferoad:

Saferoad is a leading supplier of road safety and road infrastructure solutions in Europe. The Group offers a broad range of innovative and high-quality products and solutions to those who own, build and maintain roads. Saferoad is organised in two main business areas, Road Safety  and Road Infrastructure and has approximately 2800 employees. The company design, manufacture and deliver products and solutions that improve the road safety and road infrastructure standards and the Group has leading positions in several markets across Europe, combining strong responsiveness to customer needs through an extensive local presence and a cost-effective supply chain. Saferoad Group has its roots in the North Western part of Norway where operations started back in 1947. Today, the Group has expanded its activities to more than 20 countries in Europe. For further information about SafeRoad please visit www.saferoad.com

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 13 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

 

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KKR Closes $7.4 Billion Global Infrastructure Fund

KKR

NEW YORK & LONDON–(BUSINESS WIRE)–Sep. 6, 2018– KKR, a leading global investment firm, today announced the final closing of KKR Global Infrastructure Investors III (the “Fund”), a $7.4 billion fund focused on pursuing global infrastructure investment opportunities with an emphasis on investments in OECD countries. KKR will be investing $358 million in capital alongside external investors through KKR’s balance sheet and employee commitments.

“The current scale of global infrastructure investment demand is simply enormous, and is only growing, with the need outstripping capital available,” said Raj Agrawal, KKR Member and Global Head of KKR’s infrastructure business. “This dynamic, coupled with limited public financing sources, has created a significant need for private capital to provide infrastructure solutions. We believe our sector expertise and global platform uniquely position us to help fill this funding gap and we look forward to our continued growth in, and commitment to, the infrastructure asset class.”

KKR has a risk-based, rather than a sector-based, approach to infrastructure investing. Consistent with this approach, the Fund will focus on critical infrastructure investments with low volatility and strong downside protection where KKR believes it can leverage its global value creation resources to tackle complexity in sourcing, structuring, operations, and execution. By doing so, the Fund aims to deliver attractive returns with a low risk profile from a portfolio that is broadly diversified across a number of different infrastructure sub-sectors, geographies and asset types. The Fund has a broad investment mandate across infrastructure sectors, including but not limited to: energy; transportation; water, wastewater and waste; social infrastructure; and communications infrastructure. The Fund will also focus its investment mandate on the OECD countries predominantly in North America and Western Europe.

KKR first established a dedicated infrastructure team and strategy in 2008. Since then, the team has grown to consist of 25 experienced investment professionals and has completed or announced 25 infrastructure transactions across a number of sub-sectors and geographies. With the closing of the Fund, KKR’s infrastructure business manages approximately $13 billion in assets under management. Recent transactions by the Fund include Starlight, which owns a portfolio of approximately 10,200 telecommunication towers across France, and Discovery Midstream, the largest private natural gas gathering and processing business in Colorado’s Denver-Julesburg Basin.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, family offices, high net worth individual investors and other institutional investors.

“Since first launching the Fund, we were thrilled to see the incredible momentum we received from investors – both those who were early and large supporters of our predecessor funds and also those who were first-time investors with us as well as the asset class,” said Alisa Amarosa Wood, KKR Member and Head of KKR’s Private Market Products Group. “The enthusiasm we saw across all geographies and investor types demonstrates the strong support for our infrastructure team, strategy and investment performance to date. Additionally, we have seen infrastructure as an asset class mature and grow in the way investors allocate capital to the space. The support for our Fund also speaks to this evolution of the asset class. We believe this continues to be important as the need for infrastructure capital from an investment perspective only grows.”

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media:
KKR
Kristi Huller or Cara Major, +1 212-750-8300
media@kkr.com

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Bridgepoint Growth invests in software services provider Elgin

Bridgepoint

Bridgepoint Growth has made a growth capital investment in Elgin, the home of roadworks.org, the local and national planning, management and communications hub for roadworks, road closures and traffic disruptions. The terms of the transaction are not disclosed.

Co-founder Shane O’Neill said: “We began several years ago with a vision to aggregate official traffic information across hundreds of different official sources. We have achieved a substantial market coverage within England, Scotland & Wales serving the traffic management community and developed a suite of software tools which syndicate official and real-time traffic data into the global satnav providers and other media outlets.”

CEO and co-founder James Harris added: “Our ambition is to build on our strengths in providing traffic management solutions in the UK and to play a major role in supporting the growth of autonomous vehicles and Smart Cities worldwide, leveraging our uniquely close relationships to the global satnav providers. Today’s investment by Bridgepoint Growth will allow us to accelerate our growth ambitions and extend and develop our range of services.”

Duncan Calam, a partner of Bridgepoint Growth, said: “This is an opportunity for Bridgepoint Growth to invest in a high quality, SaaS annuity business and to help it internationalise. Elgin is at the heart of the digital transport revolution, producing cost effective real-time software solutions for the world of connected vehicles and genuinely helping highway authorities to reduce congestion and costs”.

Advisers involved in this transaction were: for Bridgepoint Growth – KPMG (FDD and Tax), Taylor Wessing (Legal), Cross Lake (ITDD) and Marsh (Insurance); for Elgin – WTA Partners (M&A) and Gowling WLG (Legal)

This investment is made by Bridgepoint Growth I, a fund which  focuses on companies seeking equity investment between £5 million and £15 million that use digital technologies to achieve transformational growth in their end-markets.

AURELIA (GAVIO GROUP) and ARDIAN signed the framework agreement for the development of a strategic partnership in the infrastructure sector

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Ardian

Tortona (Al), Paris, August 3, 2018 – Aurelia S.r.l. (“Aurelia”), the financial holding company of the Gavio family, and Ardian, a world-leading private investment house also active in the infrastructure sector (“Ardian”), signed today the framework agreement (the “Framework Agreement”) in order to develop a strategic partnership aimed at strengthening the ASTM/Sias Group in the infrastructure sector.

The Framework Agreement provides for the acquisition by Ardian of a minority stake, equal to 40% of the share capital of Nuova Argo Finanziaria S.p.A., a company that holds a 58.56% stake in ASTM S.p.A., which itself holds a 63.41% stake in SIAS S.p.A.

Following the transaction, Aurelia will maintain the full and exclusive control of Nuova Argo Finanziaria S.p.A. and in turn on both ASTM S.p.A. and SIAS S.p.A.

Ardian’s total investment for the acquisition of a 40% stake of Nuova Argo Finanziaria S.p.A., amounts to EUR 850.1 million, of which EUR 95 million as earn-out in favour of Aurelia upon the occurrence of specific conditions.

The strategic partnership between Aurelia and Ardian aims at strengthening the role and competitiveness of Gavio Group as global player in the infrastructure sector, focused on growth, international expansion and on value creation for all stakeholders, and able to successfully seize major opportunities in Europe, Latin America and the United States.These regions are characterized by important consolidation opportunities in the transport infrastructure, as well as by significant investments and projects in the road and motorway concessions sector.

Ardian Infrastructure, already partner of the Gavio Group with a 49% stake in Autovia Padana, is a leading European investor in the infrastructure and motorway concessions sector with investments in France, Spain, Portugal and, more recently, Italy. In the transport sector, Ardian has invested in airport concessions (Milan, Naples, Turin and London Luton Airport) and car parks (Indigo).

The closing of the transaction is expected to occur in the upcoming months and it is subject to the authorizations by the Brazilian and Austrian antitrust authorities.
At closing, Aurelia and Ardian will enter into a shareholders’agreement (attached to the Framework Agreement) regulating, among other things, the governance and transfers of shares of Nuova Argo Finanziaria S.p.A., ASTM S.p.A. and SIAS S.p.A., the content of which will be disclosed to the market pursuant to article 122 of t.u.f.

LIST OF ADVISORS

Aurelia – Legal advisor: Chiomenti
Ardian – Legal advisor: Bonelli Erede

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT GAVIO GROUP

The Gavio Group is one of Italy’s top industrial groups and a prominent global operator in the transport infrastructure sector.
Through its subsidiaries Astm and Sias, industrial holding companies whose shares are traded on the Borsa Italiana market, the Group operates in the sectors of the management of motorway concessions, of the EPC Contractor (Engineering, Procurement & Construction), and of the technology applied to mobility.
As at the date hereof, the Group is the world’s fourth operator in the management of motorway concessions with around 4,150 kilometres of network under concession in countries such as Italy (in which the Group is the main operator in the North-West with around 1,423 kilometres of network), Brazil (in which the Group operates through Ecorodovias, a co-controlled company, with a network of around 2,640 kilometres) and the United Kingdom.
In the EPC Contractor sector, the Group operates through Itinera, one of the world’s biggest players in the realization of major infrastructure works. With an order book of more than EUR 4 billion, the Company operates in the United States by holding a controlling stake in Halmar International, one of the top five companies in the metropolitan area of New York in the transport infrastructure sector, in Latin America, Europe, Africa and the Middle East.

PRESS CONTACTS

GRUPPO GAVIO
Moccagatta Associati
Tel: +39 02. 86.45.16.95/ 02.86.45. 14.19
segreteria@moccagatta.it

ARDIAN
Image Building
Cristina Fossati, Luisella Murtas, Anna Pirtali
Tel: +39 02 89011300
ardian@imagebuilding.it

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DIF Infrastructure III sells Islip and Springhill solar plants

DIF

London, 2 August 2018 – DIF Infrastructure III is pleased to announce that it has signed and closed the sale of a 100% stake in the Islip and Springhill solar plants to Greencoat Solar Assets II Limited.

Islip and Springhill are two 5MW solar plants located in UK. Both plants have been operational since 2011 and were acquired by DIF in 2013. The projects were refinanced in June 2017.

Andrew Freeman, Head of Exits, said: “This is an attractive exit for DIF III and continues DIF’s successful strategy of proactively targeting to sell assets from its more mature funds taking advantage of strong demand for high quality core infrastructure projects.”

DIF were advised by Elgar Middleton (Finance) and Pinsent Masons (Legal).

Greencoat was advised by PWC (Tax), Eversheds Sutherland (Legal) and Evergy (Technical).

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

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

DIF has over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu for further information on DIF.

For more information please contact:

Andrew Freeman
Managing Director, Head of Exits
Email: a.freeman@dif.eu

Barend Bloemarts
Director, Investor Relations and Business Development
Email: b.bloemarts@dif.eu

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CVC Asia Fund IV announces investment in RKE

RKE is a leading toll road operator in China

CVC Capital Partners (“CVC”) is pleased to announce that CVC Asia Fund IV has entered into binding agreements to invest the USD equivalent of HKD 2,000,000,000 (subject to adjustment) of new capital for 25% in RKE International Holdings Limited (“RKE”). RKE is a subsidiary of RKI, a Hong Kong listed property development and infrastructure conglomerate.

RKE is a leading toll road operator in China with a portfolio of five expressways spanning 340km and strategically located in important economic corridors across four provinces.

William Zen, Chairman of RKE, said: “Today is an important milestone in the further development of RKE. CVC Capital Partners is a leading global private equity firm with an outstanding regional network and track record, and we are confident that this partnership will help us further our expansion opportunities in China and across South East Asia.”

Kevin Xu, Managing Director at CVC, added: “RKE is a leading toll road operator with a strong portfolio and good growth prospects. We have great admiration for the chairman William Zen and his vision to grow the company further. We are very excited about the opportunity to work with him to take RKE to the next level”.

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KKR sells its equity stake in Saba to Criteria Caixa

KKR

London and Madrid, 30 July 2018 – KKR, a leading global investment firm, today announces the divestment of its 18.2% equity stake in Saba Infraestructuras (“Saba”) to Criteria Caixa, Saba’s existing majority shareholder.

Headquartered in Barcelona, Saba is an industrial operator of urban mobility solutions, specializing in car park management. The business employs more than 1,500 people across Europe and Latin America, and generated revenues of €213m and EBITDA of €100m in 2017.

KKR originally acquired its equity stake in Saba through two transactions in 2011 and 2012, and has worked closely with other shareholders Criteria, Torreal and Proa and with Saba’s management team to help the business transform its operations and achieve its growth objectives. Since its investment, KKR has supported Saba’s international growth through expansion into Portugal, Italy, and Chile, and has helped Saba exit its logistics parks businesses to focus on winning and extending contracts in its car parking business.

Saba has also been supported by specific expertise from KKR Capstone and KKR Capital Markets, who helped Saba deliver cost efficiencies and optimise its capital structure to provide a firm foundation for future growth.

Tara Davies, Member and Head of European Infrastructure at KKR, said “We are delighted to have contributed to reinforcing Saba’s leading position in the sector. The business has transformed since 2011 and we are confident that it is well-positioned for continued strong growth in the future.”

Alejo Vidal-Quadras, Director at KKR and Head of the Madrid office, said “KKR has leveraged the full strength of its platform and capability to support Saba over the past years, demonstrated by the strength of its recent performance. The partnership with Saba builds on KKR’s track record of supporting leading Spanish businesses with their operations and growth strategy.”

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts

UK / International
Alastair Elwen
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Spain Javier Curtichs
Tinkle
Phone: +34 91 702 10 10
Email: jcurtichs@tinkle.es

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EQT enters exclusive negotiations to acquire French water and waste water management company SAUR Group

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eqt

  • EQT Infrastructure enters into exclusive negotiations to acquire SAUR Group, a leading French drinking water and wastewater management company providing water infrastructure management services for municipalities under long-term contracts
  • EQT Infrastructure committed to become a responsible owner and trusted partner supporting SAUR’s sustainable growth and development – in France as well as internationally
  • Investment a milestone on EQT’s overall growth strategy and geographical expansion into the attractive French market

The EQT Infrastructure III fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire Holding d’Infrastructures des Métiers de l’Environnement (“HIME”), the holding company of SAUR Group (“SAUR” or the “Group”) from its current shareholders including BNP Paribas and Groupe BPCE. BNP Paribas will invest as minority shareholder alongside EQT Infrastructure in SAUR.

SAUR, founded in 1933, is a leader in the outsourced French water supply and treatment market. The Group serves approximately 7,000 French local authorities under long-term contracts with focus on small and mid-sized municipalities. SAUR also has an international footprint with presence in Saudi Arabia, Scotland, Spain, and Poland, among others. With approximately 9,000 employees, SAUR provides service to around 13 million consumers in France and worldwide. The Group had net revenues of around EUR 1.29 billion in 2017.

As a shareholder with a long-term, industrial and responsible ownership approach, EQT Infrastructure intends to bring SAUR unique opportunities to develop further and return to sustained growth across its geographical markets.

Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, says: “EQT has followed SAUR for many years, it is a well-positioned company in an attractive market with significant development potential. We aim to unlock this by working together with SAUR’s dedicated management and employees leveraging on the company’s proven agility, operational network and proximity to customers. EQT’s industrial network will provide complementary experiences in water infrastructure management, digitalization and sustainable development.”

Lennart Blecher, Deputy Managing Partner at EQT and Head of EQT Real Assets, continues: “We are both proud and humble about being in exclusive negotiations to become the owner of SAUR. EQT strongly believes that we will be able to add value thanks to the deep sector and operational experience among EQT’s industrial advisors. The investment will also be an important next step for EQT’s overall expansion into France, following a number of high-profile real estate acquisitions. We see it as a very interesting market with vast investment opportunities relevant for EQT’s approach of active and engaged ownership.”

Louis-Roch Burgard, Executive Chairman of SAUR, says: “This shareholding evolution is a major step which will enable us to reinforce our development perspectives in line with our Initiative 2022-ambitions. We are convinced that the combination of EQT’s expertise in infrastructure and our operator’s experience will be a key lever to contribute to the Group’s growth, both in France and abroad, and will serve the interest of all our employees. This evolution perfectly meets the Group’s willingness to carry on with their commitment to their clients, be they local authorities or consumers, to offer them an innovative local service part of a social responsibility approach.”

The transaction, which will be EQT Infrastructure’s first investment in France, will be contingent upon the standard regulatory approvals and is subject to the required Works Councils consultations. The parties have agreed not to disclose financial details related to the transaction. The transaction could be finalized by the end of 2018.

Rothschild is acting as exclusive financial advisor and Clifford Chance as legal advisor to EQT Infrastructure.

Contacts
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +49 89 255 499 505
EQT Press office +46 8 506 55 334
Brunswick Paris Benoit Grange and Hugues Boeton Tel: +33 1 53 96 83 83
Mail: eqtfrance@brunswickgroup.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds, EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Saur
As a longstanding environmental services leader, SAUR serves local authorities and industrial companies in the successful implementation of development projects in water supply and treatment, environmental services (engineering, infrastructure services). SAUR worldwide presence Saudi Arabia, Scotland, Spain, Poland. 2017 key figures (excluding waste management): EUR 1.29 billion Group net revenue, 7,000 local authorities contracted, 9,000 employees and 13 million consumers in France and worldwide.

More info: www.saur.com

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