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Eurazeo and ICAPITAL® announc eglobal partnership to widen access to Eurazeo’s PRivate Markets Opportunities for Wealth managers and their clients

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Eurazeo

Eurazeo will leverage iCapital’s cutting-edge technology and iCapital Marketplace to distribute Eurazeo’s suite of alternative offerings to Wealth Managers globally

 

Eurazeo, a leading global investment company with a diversified portfolio of €35 billion in assets under management, and iCapital1, the global fintech platform driving access to alternative investments for the wealth management industry, have today announced a partnership to increase Wealth Managers’ access to Eurazeo’s broad range of private markets opportunities.

Through this partnership, Eurazeo will leverage iCapital’s cutting-edge technology and iCapital Marketplace to support Eurazeo in distributing its suite of alternative offerings to Wealth Managers globally. The first launch available will be a feeder fund into Eurazeo’s new impact fund focused on Transition Infrastructure.

Eurazeo has a long-standing, 20-year track record of providing Wealth Managers and their high-net-worth clients with innovative investment solutions. Leveraging the technology and distribution of iCapital Marketplace, the partnership will support Eurazeo’s continued commitment to bring its broad suite of capabilities to Wealth Managers globally enabling them to build diversified portfolios for their clients.

Eurazeo has significant expertise across private equity, private debt, real estate and infrastructure strategies and is invested in around 600 companies. It launched a number of new products for private clients in 2023, highlighting its deep sector knowledge and its focus on delivering the best possible opportunities for its clients.

 

Luc Maruenda, Head of Wealth Solutions at Eurazeo, said:

“Addressing private individual investors and helping them broaden access to the private markets is part of our DNA and strategy. Based on our 20-year successful track record in France, we believe iCapital will be instrumental in replicating this strategy in Europe and beyond. With its leading technology and global positioning, iCapital was a natural choice to enhance the range of investment solutions for our Wealth Managers globally.”

 

Marco Bizzozero, Head of International at iCapital, said:

“We are delighted to welcome Eurazeo, a leading global investment company with considerable private markets experience, to iCapital Marketplace to support Eurazeo in distributing its investment offering to Wealth Managers and their clients around the world. This partnership demonstrates that iCapital is the partner of choice for Asset Managers accessing the growing pool of private wealth as Wealth Managers increasingly seek to benefit from including private markets investments in a diversified portfolio for their private clients.”

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Glendower Capital raises US$5.8 billion for its fifth global secondary private equity fund

CVC Capital Partners

Glendower Capital, CVC’s secondaries platform, is pleased to announce the final close of its fifth global secondary private equity fund, Glendower Capital Secondary Opportunities Fund V (“SOF V”). Glendower has raised aggregate capital commitments of US$5.8 billion for the SOF V program to deploy in the secondary market. SOF V is the first fund closed since Glendower completed a strategic merger with CVC in 2022.

Glendower operates in the private equity secondaries mid-market, targeting buyout fund investments managed by high quality GPs. The fundraise concluded at the hard cap and represents the next stage of growth for Glendower’s successful two-pronged strategy in private equity secondaries, which provides balanced exposure to portfolio sales by LP investors as well as GP-led transactions.

The fundraise attracted investment from a diversified and global institutional investor base of over 230 returning and new limited partners.

Carlo Pirzio-Biroli, CEO and Managing Partner of Glendower, commented, “We are grateful for the support of our existing investors, as well as the new investors that joined our program for this fund. The completion of this fundraise is another significant milestone for us, and we continue our mission to be a lead investor and key partner of choice for LPs and GPs globally. The opportunity for our investment strategy has never been greater and we look forward to deploying this capital into a highly attractive secondary market environment.”

Quotes

The completion of this fundraise is another significant milestone for us, and we continue our mission to be a lead investor and key partner of choice for LPs and GPs globally. The opportunity for our investment strategy has never been greater and we look forward to deploying this capital into a highly attractive secondary market environment.

Carlo Pirzio-Biroli CEO and Managing Partner of Glendower

Rob Lucas, CVC Managing Partner, said, “We are delighted with the progress of our partnership with Glendower since the transaction completed last year. Congratulations to Carlo and team who have achieved their largest ever fundraise with SOF V.  With access to the broader CVC Network, the secondaries platform is well-positioned to continue to deliver sustainable value for our investors in this growing market segment, and we look forward to the continued success of this strategy.”

Glendower today manages US$13 billion in AUM across its private equity secondary funds with a team of over 35 dedicated investment professionals. CVC manages more than €140 billion of AUM globally across its six complementary strategies comprising CVC Europe/Americas, CVC Asia, CVC Strategic Opportunities, CVC Growth, CVC Credit and CVC Secondaries (Glendower).

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EQT Exeter Industrial Value Fund VI closes at USD 4.9 billion, exceeding target size of USD 4.0 billion

eqt
  • Successful fundraise reflects EQT Exeter’s top ventile, proven outperformance for its global clients in geo-sector focused real estate investment products
  • The Fund pursues a high alpha, value-add strategy focused on acquiring, developing, renovating, leasing, and operating logistics properties in the US

EQT is pleased to announce that EQT Exeter Industrial Value Fund VI (the “Fund”) has held its final close at USD 4.9 billion in fee generating assets under management. Demand from existing and new investors was strong, with commitments coming from a diverse group of pensions, foundations, insurance, and sovereign clients across North America, South America, Europe, Asia, and the Middle East.

The Fund pursues a value-add strategy to acquire, develop, renovate, lease, operate, and sell industrial properties serving major markets throughout the US and emphasizing single-tenant, modern supply chain assets, which include big box fulfillment center and last mile assets used by the world’s largest corporations to implement their delivery systems. In the US and Mexico alone, EQT Exeter employs investment and leasing professionals across 25 offices who provide a keen selection of submarkets and properties and whose insights into tenant demand are informed by over 1,200 industrial tenant relationships.

While acknowledging the prudence required amid global macroeconomic uncertainty, EQT Exeter believes that current conditions for acquisitions are fertile, as the higher interest rate environment has resulted in reduced asset pricing. Meanwhile, sustained high occupancy nationally and the elevated cost to build new facilities have led to remarkable rental rate growth. The Fund seeks to capitalize on these market fundamentals by utilizing EQT Exeter’s in-house, local leasing professionals to increase occupancy, reset rental rates to market levels upon lease expirations, and secure strong credit tenants who better withstand market cyclicality. EQT Exeter will also execute high-yielding ground-up construction by utilizing the team’s sophisticated in-house design and development expertise.

“We are grateful to our investors for their support, particularly during this challenging environment for making new fund commitments,” said Rayenne Chen, Global Client Solutions. “This fund is among the largest single-property sector, operator funds ever raised, and we attribute our investor partners’ support and confidence to our proven experience in navigating the opportunities and risks of challenging market cycles.”

Matt Brodnik, Chief Investment Officer, EQT Exeter, said, “We look forward to assembling this portfolio amid significant pricing resets due to today’s choppy markets. More than ever, we count on our longtime and far-reaching relationships with owners, the brokerage community, and lenders to uncover opportunities and serve as their most preferred and reputable buyer.”

Henry Steinberg, President, EQT Exeter, said, “The direct relationships we have developed with global logistics users have enabled us to serve as their essential real estate solutions provider. Winning their business will drive the Fund’s occupancy and value appreciation no matter the market cycle. Furthermore, we are developing analytic tools to leverage our in-house, locally sourced acquisition and leasing data across geographies and product types to make EQT Exeter an even more effective and informed operator.”

Contact
US media inquiries: Stephanie Greengarten, stephanie.greengarten@eqtpartners.com, +1 646-687-6810
International media inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. With a legacy dating back 75 years, EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing, leasing, and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of Exeter Property Group and EQT.

A tenant-centric, global leader in sheds, beds, and meds, EQT Exeter currently oversees a portfolio totaling over 320 million square feet across 1,550 buildings. The EQT Exeter Team comprises more than 450 experienced professionals operating in more than 50 offices around the globe. Together, they have consummated over 1,800 real estate investments corresponding to over 2,500 properties totaling more than $30 billion in property value. As part of EQT, the team leverages the firm’s industry-leading sustainability credentials and framework and in-house digitalization skills to generate increased value for its investor clients.

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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AVP launches a new strategy to invest in late-stage tech companies with a targeted €1.5bn fund of which €750m invested by AXA.

AXA
  • AXA intends to invest €750m, as anchor investor, in a new Late Growth strategy and confirms its commitment to support AVP in launching a fund with no European equivalent.
  • This strategy will invest in global tech leaders in Europe and North America. It will support them until the IPO and will potentially, as a long-term investor, remain invested post-IPO.
  • The ambition of the strategy is also to contribute to the development of a strong European-based financing environment for the tech ecosystem.
  • The future fund naturally extends the current range of AVP funds (Venture, Growth and Funds of Funds) and broadens the AVP capacity to invest in all stages of tech companies.
  • AVP will significantly reinforce its team in Europe and North America with new talents to support this strategy.

AVP announced today the launch of a new €1.5bn Late Growth strategy dedicated to supporting global technology leaders. The first closing is expected in Q1 2024 with a final close expected in 2025. AXA intends to invest €750m in the future fund, starting in the first closing.

The strategy will target AVP’s existing focus sectors of Software, Fintech/Insurtech, Digital Health and Consumer technologies in Europe and in North America. It will invest in companies that have fully proven product market fit and sales execution in one or several markets, that intend to continue their growth through global expansion and have the potential to IPO in the next three to four years. The future fund will act as a long-term investor supporting companies ahead of IPO and post IPO. It will benefit from the relationships developed over the years with entrepreneurs first in the Venture Fund or in the Growth fund to quickly build a pipeline with the most promising Late Growth companies.

AVP Late Growth strategy will lead rounds with initial investment size of up to €150m and be an active investor with Board representation. The future fund will build a portfolio of 12/15 of the most promising late-stage European and North American tech companies. In Europe in particular, growth of the most promising European innovative companies is held back by the difficulty of raising sufficient capital from funds based in Europe as Late Growth rounds are up to now mainly carried out by non-European investors. AVP strongly believes it is crucial and timely to provide Europe, where it aims to deploy about two third of the strategy, with a competitive global platform to support the best technology companies. As such, the Late Growth strategy is fully aligned with the objectives of the Scale-up Europe project and Tibi 2 initiative. Being a European long-term investor providing long-term capital and able to support European global tech leaders towards their IPO and post their IPO, the AVP Late Growth strategy addresses a new market segment and provides an answer to the current gap that exist.

AVP will at the same time keep its transatlantic DNA and the Late Growth strategy will also invest in global leaders in North America. As such, AVP aims at becoming one of the few global platforms specialized in investing in technology, from Early Stage to Late Growth. AVP’s experience in Venture and Growth investing is a strong competitive advantage to access these Late Growth companies, understand the objectives of the entrepreneurs and be able to support them in the new phase of their journey.

“We are very happy and proud with the launch of the new AVP strategy. I am also extremely happy to see the commitment of AXA, as an anchor investor, with an intended significant investment of €750m. We clearly see the long-term value- creation potential of technology in general. We believe that with AXA IM, and in particular with AXA IM Alts, to which AVP is part of, AXA benefits from a unique platform and unique expertise to invest in yield producing asset classes.” said Marco Morelli, Member of AXA Management Committee, AXA IM CEO and Chairman of AVP.

“We are extremely happy to support the launch of the new AVP Late Growth strategy as a cornerstone investor like we did for previous strategies with a very material investment. This shows our commitment to continue to invest in tech companies, but also our appreciation of AVP’s excellent job and track-record in the past 7 years from Venture to Late Stage. The strength of AXA’s balance sheet allows us to make such commitment and to benefit from technology tailwinds, which are clearly long-term trends. We also believe that the recent correction in valuation in the tech sector will provide opportunities in the years to come” added Jean-Baptiste Tricot, AXA Group CIO.

“I believe that we have, in less than 7 years, created a strong transatlantic investment platform, focused on North America and Europe, dedicated to entrepreneurs in the tech space, with a very solid LP base. Launching this Late Growth strategy is a great achievement and a key milestone for the AVP team. The continued support and trust of such a sophisticated investor as AXA comes as a validation of the expertise and track record of the AVP team. The all AVP team is very grateful for this and very proud to have deserved the trust of such a top institutional investor” commented François Robinet, Managing Partner of AVP.

“Our DNA comes from Venture investing: we understand entrepreneurs, their challenges and the partners they want to work with. This DNA will make a significant difference in Late Growth investing. We now have the capacity to support outstanding entrepreneurs along their journey, from early stages to IPO and even post IPO which is a key differentiation in the market. Like what we have successfully done with our Venture (AVP Venture I and II) and Growth funds (AVP Capital I and II), we will continue to strive to be “best-in-class” and to aim investing in the best possible tech companies in Europe and in the US. In Europe in particular, we believe that we will have a powerful value proposition. We will provide an investment alternative to European entrepreneurs who wish to have a long-term European investor in their capital and keep their European roots.”. adds François Robinet.

To support its strategy and accelerate on its ambition, the future fund will be managed by Partners from the existing team and new Partners in the US and in Europe. The overall team will be significantly strengthened.

About AVP

AVP (AXA Venture Partners) is a global venture capital firm investing in high-growth, technology-enabled companies, with €1.3bn of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. Since its launch in 2016, AVP deployed capital across 60 technology companies in Venture and Growth stages in the US and in Europe. The launch of this new product confirms AVP’s ambition and commitment to support the best tech companies throughout their journey.

With offices in New York, London and Paris, AVP helps companies scale internationally and offers portfolio companies unique business development opportunities to further accelerate their growth. AVP is part of AXA IM- Alts, the alternative investment business unit of AXA IM.

Contact

AVP – Sébastien Loubry : sebastien@axavp.com / + 33 6 15 31 61 68
Primatice Conseil – Thomas de Climens : thomasdeclimens@primatice.com / + 33 6 78 12 97 95

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EQT Life Sciences closes Dementia Fund at the hard cap

eqt
  • The LSP Dementia Fund has held its final close at approximately EUR 260 million, at the hard cap and above its original target fund size of EUR 100 million
  • Investors include the Alzheimer’s Association, the European Investment Fund, several global pharmaceutical companies, and insurance companies, amongst other
  • The Fund aims to bring new treatments to patients suffering from Dementia, which is one of the greatest healthcare challenges of our time
  • Led by Professor Philip Scheltens, one of the world’s leading experts on dementia, the LSP Dementia Fund further strengthens EQT’s position as one of the leading and most active private markets investors in the healthcare sector

EQT Life Sciences has held the final close of its inaugural LSP Dementia Fund (“the Fund”), raising approximately EUR 260 million in fee-generating assets under management, meeting the hard cap and surpassing the target fund size of EUR 100 million. The fund is dedicated to investing in companies that are developing breakthrough drug therapies and medical technologies across the spectrum of neurodegenerative diseases.

Dementia is the greatest health challenge of our time: there are 54 million patients with the disease worldwide, and without significant time and investment in battling the disease, this number is predicted to triple by 20501. Despite the graveness of the situation, investment in dementia research and development is substantially lower compared to other major healthcare challenges such as cancer, HIV/AIDS, and cardiovascular disease. The LSP Dementia Fund has been created to help bridge this gap by advancing breakthrough dementia innovation to bring new drugs to patients, while simultaneously seeking to generate strong financial returns for its investors.

The LSP Dementia Fund investment team is led by Philip Scheltens, MD, PhD, professor emeritus at Amsterdam University Medical Center and one of the world’s most renowned dementia researchers, having (co)authored over 1100 scientific publications. The other partners in the investment team are Felice Verduyn-van Weegen, MBA, Cillian King, PhD, and Arno de Wilde, MD, PhD, MBA. The team is supported by the expertise and network of EQT Life Sciences, which has over 30 years of investing experience and closed its flagship LSP 7 fund at over EUR 1 billion in fee-generating assets under management in 2022. It will also become an integral part of EQT’s Healthcare sector platform, further strengthening EQT’s global expertise in the sector and ability to support companies from venture-stage to mature, market leaders.

The Fund is supported by a broad range of investors including the Alzheimer’s Association, the world’s largest charity and advocacy organization in the field, insurance companies, the European Investment Fund, and several global pharmaceutical companies – including from Asia and the US – which underlines the industry’s interest in European life sciences venture opportunities. Other investors include endowments, foundations, and other private wealth investors.

The Fund intends to invest in 10 to 15 companies in total. Having made its first investment in NewAmsterdam Pharma (Nasdaq: NAMS), which focuses on cardiovascular and Alzheimer’s disease, in January 2021, the fund has since invested in four companies: Muna Therapeutics (Alzheimer’s disease and Parkinson’s disease), AviadoBio (Frontotemporal Dementia (FTD) and Amyotrophic lateral sclerosis (ALS)), Nobi (smart care solutions in nursing homes) and QurAlis (FTD and ALS).

Prof. Philip Scheltens, Partner and Head of the LSP Dementia Fund commented: “The final close marks the end of a very successful fundraising journey in which we have experienced strong interest and commitment. This gives us the confidence to invest in groundbreaking science and entrepreneurship, which this field so urgently needs. I am very proud to be leading such an experienced team of neuroscientists and investors and being part of an organization with such a high standing in the field of life sciences.”

Dr. René Kuijten MD, PhD, MBA, Partner and Head of EQT Life Sciences, said: “EQT Life Sciences aims to improve patient’s lives by supporting the development of breakthrough therapies. We strongly believe that neurodegenerative diseases are the next big challenge after oncology and cardiovascular diseases. With this fund, EQT Life Sciences is now in a strong position to support companies at the cutting-edge of battling this disease.”

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare sector team, concluded: “EQT is already one of the world’s most active and leading healthcare investors and the close of this fund further strengthens this position. From the earliest stages all the way through to global market leaders, EQT has the experience, expertise, and firepower to support companies in every phase of their development.”

Notes to Editors

The LSP Dementia Fund is a Dutch fund managed by a Dutch AIFM.

[1]Source: Prince, M. Prina, M & Guerchet, M. The Global Impact of Dementia: 2013 – 2050. Alzheimer’s disease international.

Contact
Prof Dr. Philip Scheltens, Partner and Head of the LSP Dementia Fund, philip.scheltens@eqtpartners.com

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram 

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.

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Investcorp Raises Over $1.2 Billion for Inaugural North America Private Equity Fund

Investcorp

Investcorp, a leading global alternative investment firm, today announced the final closing of Investcorp North American Private Equity Fund I, L.P. (“Fund I” or “the Fund”), which focuses on control buy-out investments in middle market services businesses in North America. Fund I closed at over $1.2 billion in capital commitments from blue-chip institutional investors, including pension plans, family offices, private wealth funds and an insurance company across North America, Europe and the Gulf region.

Fund I currently has a strong portfolio of seven investments in companies across the strategy’s core business services verticals, which align with the team’s deep domain knowledge and expertise. The investment strategy is focused on family- and founder-owned business across six subsectors including: tech-enabled, knowledge & professional, data & information, supply chain, industry and specialty consumer services. Investcorp targets companies that demonstrate resilience while also being well-positioned for market growth through multiple value creation levers.

“We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale,” said Mohammed Alardhi, Executive Chairman, Investcorp. “We are grateful for the trust that our institutional investors have placed in us during this time of greater uncertainty and a more challenging capital raising environment.”

“We are extremely thankful for the support we received from institutional investors in Fund I and remain highly focused on executing our strategy to identify and capitalize on consistent, high quality investment opportunities in this and future funds. We are excited about the potential growth and value creation opportunities presented by Fund I’s existing portfolio companies and our robust pipeline of potential new investments,” added Dave Tayeh, Head of Private Equity, North America.

“We are delighted for our North American PE team reaching this important milestone and look forward to continuing our long history of forging strong partnerships with our investors and delivering quality investment opportunities as our capital base continues to grow and diversify,” said Laura Coquis, Global Head of Institutional Capital Raising.

Investcorp’s North America Private Equity group has been investing in North American mid-market businesses for over 40 years and has completed approximately 70 transactions, deploying more than $22 billion in transaction value since inception.

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AE Industrial Partners Names Senior Aviation Executive David L. Joyce as Chairman of AE Industrial Partners HorizonX

Ae Industrial Partners

oyce, the Former President & CEO of GE Aviation and Former Vice Chairman of General Electric, Will Also Serve as a Strategic Advisor to the Firm

BOCA RATON, FL— January 18, 2023 – AE Industrial Partners, LP (“AEI”), a U.S-based private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, announced today that David L. Joyce, the former President & CEO of GE Aviation and former Vice Chairman of the General Electric Company, will join AEI as Chairman of AE Industrial Partners HorizonX  (“AEI HorizonX”), the firm’s venture capital investment platform. Mr. Joyce will also act as a Strategic Advisor to AEI across its entire portfolio of investments and strategies. AEI HorizonX focuses on early-stage equity investments in transformative technologies and businesses that will define the future of aerospace, defense, enterprise and industrial markets.

“David’s career at GE Aviation has been defined by engineering excellence, new product and technology development, and global market leadership – experience that will be instrumental as we look to identify the future of sustainable technology and its integration into industrial markets,” said David Rowe, Managing Partner of AEI. “I look forward to David’s partnership as we continue to build the AEI HorizonX platform, and more broadly with AEI’s specialized market reach. His understanding of the potential for engineering and technology innovation across the industrial landscape is a critical skill that will benefit AEI’s mission.”

Brian Schettler, Partner and Head of AEI HorizonX added, “David’s global reputation as a leader with a strong technical understanding of our key target markets makes him a perfect fit to help us achieve market leadership with our early-stage AEI HorizonX investment platform.”

Mr. Joyce’s 40-year career at GE Aviation, including 12 years leading the business as President and CEO, has spanned a golden era of aviation that included the development of new, fuel-efficient engine technologies, transformative manufacturing materials and processes, and the formation of global alliances solidifying GE Aviation’s world leading position for jet engines, components and integrated systems for commercial aviation and military aircraft. His tenure at GE Aviation will continue to be defined decades into the future by programs developed under his leadership, including initiatives in engine design and innovation, sustainable and hybrid fuel systems, additive manufacturing, and digital tools, among others.

“I have followed the success of AEI since its founding in 1998 by David and Brian Rowe and am excited to join such a strong team of industry experts,” said Mr. Joyce. “I look forward to working with the leadership of AEI HorizonX to build out its venture platform, together with the entire AEI team across its investment portfolio.”

Mr. Joyce earned both BS and MS degrees in mechanical engineering from Michigan State University, and an MBA in business finance from Xavier University. Mr. Joyce is also a member of the National Academy of Engineering and is a Director of The Boeing Company.

About AE HorizonX

AEI HorizonX was formed as Boeing’s corporate venture capital arm in 2017 and is now managed by AE Industrial Partners, a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, with $5 billion of assets under management. AEI HorizonX is an active participant in venture capital within its core strategic areas of focus, investing in more than 50 startups globally and building numerous relationships and partnerships across the aerospace, technology, and investing ecosystem. Learn more at www.aeroequity.com/horizon-x/.

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

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Media Contacts: 

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Jennifer Hurson

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845.507.0571

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bwiegard@lambert.com

954.494.8261

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AURELIUS Equity Opportunities to seek segment change

Aurelius Capital
  • Segment change from qualified Open Market (m:access) to general Open Market intended
  • Considerable savings of time and money for the company
  • Rights of shareholders linked to their shares will be preserved

Grünwald, January 16, 2023 – The Board of Directors of the general partner of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) will seek a segment change. The company assumes that its shares will be traded in the general Open Market at a stock exchange after a transition period. The current inclusion in the qualified Open Market (m:access segment of the Munich Stock Exchange) will end. The decision was reached after carefully weighing the advantages and disadvantages of the quotation of the shares.

AURELIUS Equity Opportunities has undergone a substantial transformation in the last 15 years, developing from a turnaround investor focused on Germany to a member of the pan-European AURELIUS Group specializing in private equity, private debt, and real estate.

Already since 2013, there has been no need for the company to make use of the funding possibilities afforded by the quotation of the shares in the qualified Open Market to raise equity capital. At the same time, the financial and regulatory effort entailed by the quotation of the shares in this segment, which in some cases also creates disadvantages for the company’s day-to-day business, has risen considerably in the last few years. The intended segment change was decided after a careful assessment of the corresponding advantages and disadvantages, on the basis of which it was determined that a quotation of the shares in the qualified Open Market is no longer necessary.

Therefore, the Board of Directors resolved today to file an application to revoke the quotation of the shares of AURELIUS Equity Opportunities SE & Co. KGaA in the m:access segment and to revoke the inclusion in the Open Market of the Munich Stock Exchange. AURELIUS Equity Opportunities further assumes that its shares will be traded in the general Open Market at another stock exchange in the future as well.

The rights of existing shareholders linked to their shares will be preserved after this segment change. The exact timing of the discontinuation of trading will depend on the corresponding decision to be made by the Munich Stock Exchange. The transition period could last for up to one year or possibly longer.

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Alpha Dhabi and Mubadala Form Partnership to Co-invest in Global Credit Opportunities

Apollo

Abu Dhabi, UAE; 05 January 2023: Alpha Dhabi Holding PJSC (“Alpha Dhabi”) and Mubadala Investment Company (“Mubadala”) today announced the formation of a joint venture to co-invest in credit opportunities. Alpha Dhabi and Mubadala aim to collectively deploy up to ~AED 9 billion (approximately US $2.5 billion) over the next five years, leveraging Mubadala’s long-term and strategic partnership with Apollo (NYSE: APO), one of the world’s largest alternative asset managers, to access high-quality private credit investment opportunities.

Mubadala will hold 80% ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20% to be held by Alpha Dhabi.

Commenting on the announcement, Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said: “We have continued to assess the private credit market asset class recently with a keen interest, particularly given the current global market environment. We are proud to partner with Mubadala and Apollo – both of which are renowned in this space – to address the global market need for alternative forms of liquidity and credit. The asset class provides further diversification to our portfolio and attractive risk adjusted returns.”

Hani Barhoush, CEO of Disruptive Investments at Mubadala, added: “We are excited to form this partnership with Alpha Dhabi at a time when global private credit markets are entering a period of significant growth. By leveraging our strong existing relationship with Apollo, and combining Mubadala and Alpha Dhabi’s investment expertise and capital, we have created a powerful platform to access investment opportunities around the world while driving synergies across Abu Dhabi’s ecosystem.”

“At Apollo, we believe this is an attractive time to deploy capital across private credit markets and are excited to continue building our relationships with Mubadala and Alpha Dhabi, coming together at a time when private markets are prime for investment against a backdrop of broader public market stress.” said Craig Farr, Apollo Partner and Head of Apollo Capital Solutions.

Allocations to the private credit asset class have continued to gain traction and increase regionally and are seen as a route to generate strong returns while providing effective downside protection. This is particularly pertinent in the context of the current operating macroenvironment with rising interest rates and inflationary pressures. Private credit investments are well placed to perform across market cycles, despite the current uncertain and volatile global capital markets landscape.

—ENDS—

About Mubadala

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $284 billion (AED 1,045 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

For more information about Mubadala Investment Company, please visit: www.mubadala.com

About Alpha Dhabi

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Tesi’s Growth Company Pulse Survey: Companies still forecasting growth – labour shortages a handicap

Tesi

Tesi’s survey, now conducted for the sixth time, covers unlisted companies comprising at least five people in Finland’s major business sectors.

The companies surveyed forecast average growth in net sales of 8.5% for 2022 and 5% for 2023, which roughly corresponds to the European Central Bank’s inflation forecasts. Corresponding growth estimates for strongly growth-oriented companies are many times higher than these averages.

“Our survey shows that strongly growth-oriented companies excelled themselves amidst multiple crises and have managed to realise their expectations in a difficult environment. This select group probably includes the stars, which define Finland’s future by transforming the country’s business ecosystem and boosting productivity,” points out CDO Henri Hakamo, who heads Tesi’s Development team.

Growth prospects are dampened, however, by major labour shortages. The survey indicates that almost 60% of the companies are suffering from labour shortages. Of these companies, one-sixth find the issue an obstacle to normal operation and almost one-half an obstacle to growth. The worst shortage is in the accommodation & food services sector. Across all sectors, at least one-half of the companies are suffering from labour shortages, and one-sixth report the shortage depressing their net sales by over one-tenth.

VC&PE-backed companies investing in growth

Companies backed by venture capital and/or private equity have bolder investment plans than their peers and also plan bigger increases in their R&D investments.

One-third of all the companies are planning to increase their investments compared to almost 60% of VC&PE-backed companies planning increases. These figures are broadly similar to last year’s level.

One-third of all the companies and some 80% of VC&PE-backed companies conduct R&D activities. One-fifth of all the companies and over one-half of VC&PE-backed companies plan to increase their R&D activities. These figures are broadly similar to those of one year ago.

“Companies have succeeded in adapting their operations in Finland and in battling through challenging times with commendable results. This is the big picture our questionnaire survey portrays. Venture capital and private equity-backed companies have performed well and even show surprisingly good prospects,” summarises Henri Hakamo.

Key Figures

  • Net sales are forecast to grow in 2023 at the same pace as inflation. All surveyed companies +5%, growth-oriented companies 26%, and VC&PE-backed companies 24%.
  • EBITDA is forecast to rise in 2023 by an average 2.7 percentage points to roughly 15%. The same level of 15% is also expected by VC&PE-backed companies.
  • Labour shortages are impacting 57% of the companies. Of these companies, labour shortages are an obstacle to normal operation for 17% and an obstacle to growth for 47%. The most acute labour shortage is in accommodation & food services (70%).
  • Electricity savings measures have been adopted by 50% of the companies, while 43% have made investments in saving energy.
  • Investment is forecast to increase in 32% of all the companies and in 57% of VC&PE-backed companies. Investment as a proportion of net sales is estimated as 8% in the former group, and 20% in the latter group.
  • R&D activities are currently conducted by 35% of all companies, 66% of strongly growth-oriented companies, and 81% of VC&PE-backed companies. An increase in R&D activities is planned by 20% of all companies, 40% of strongly growth-oriented companies, and 54% of VC&PE-backed companies.

The Growth Company Pulse Survey is a survey of small & medium-sized enterprises (SMEs) jointly conducted by Tesi and Taloustutkimus. The survey addresses pertinent issues such as growth, profitability, financing, investment, labour shortages and expertise. Altogether 1,575 companies participated in the survey during the response period of 11 October – 18 November 2022. The survey covers the most important sectors of Finland’s economy (8/16 sectors). Companies of less than five people were excluded from the survey, but no upper limit was set for net sales.

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More information

Henri Hakamo, +358 (0)40 050 2721, henri.hakamo@tesi.fi, CDO
Susanna Aaltonen, +358 (0)40 593 4221, susanna.aaltonen@tesi.fi, Director, Communications

Link to Henri Hakamo’s photo

Tesi wants to raise Finland to the forefront of transformative economic growth. We develop the market, and work for the success of Finnish growth companies. We invest in private equity and venture capital funds and directly in growth companies. We provide long-running support, reasoned insights, patient capital, and skilled ownership. tesi.fi | Twitter  | LinkedIn  | Newsletter

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