Zouk Capital announces third close in Charging Infrastructure Investment Fund

admin January 11, 2021

London, United Kingdom – January 2021

• Willis Towers Watson and Morgan Stanley Investment Management anchor close with HM Treasury
• Fund currently stands at £380m in signed commitments

London, 11 January, 2021: Zouk Capital, manager of the UK Treasury’s Charging Infrastructure Investment Fund (CIIF), today announced the fund has now reached a total of £380m in signed commitments (against a target of £400m) after this third close. The third close was anchored from the private sector by Willis Towers Watson’s clients and investment funds and Morgan Stanley Investment Management’s Climate Impact Fund, with funding matched by HM Treasury. The fund is targeting a final close in early 2021.

Both global leaders in their fields, investment consultant and fund manager Willis Towers Watson and asset manager Morgan Stanley Investment Management further strengthen the impressive list of investors already committed to CIIF. The CIIF is underpinned by the need to rapidly decarbonise the UK’s transport sector and improve air quality, which creates an opportunity to make environmentally impactful financial returns through the creation of large renewable energy powered public EV charging networks.

In 2020 the UK Government twice reduced the deadline for sales of petrol and diesel cars in its goal of reducing net carbon emission to zero by 2050. Supporting the public electric vehicle (EV) charging network is a key initiative within this objective. CIIF is dedicated to catalysing the rollout of a robust and diversified public EV charging infrastructure that is required to support the electrification of vehicles throughout the UK. Two investments have been made from CIIF so far – the first investment was in InstaVolt, which develops, installs, owns and operates rapid EV charging stations in the UK and has plans to bolster UK rapid charge points nationally to 5000. The second, announced in May 2020, was in Liberty Charge, a joint venture between Liberty Global and Zouk Capital, which is rolling out on-street residential charging points throughout the UK for the 40% of households without access to private driveways.

Paul Berriman, global head of TWIM, Willis Towers Watson’s investment fund business, said,

‘The Charging Infrastructure Investment Fund is playing an important role in speeding up the decarbonisation of the UK’s transport industry. This is clearly important from a sustainability perspective, and that also makes it a good investment opportunity for our Partners Fund, the flagship multi-asset portfolio of our best ideas across all asset classes.’

Vikram Raju, Head of Climate Impact, Morgan Stanley Investment Management AIP Private Markets, continued,

‘Accelerating the carbon transition in transportation is a key focus for the Climate Impact strategy at Morgan Stanley Investment Management. Through our partnership with the CIIF and Instavolt, we hope to transform significantly the way automobiles in the UK consume fuel and reduce the emissions they generate.’

Samer Salty, Managing Partner Zouk Capital added,

‘In spite of the ongoing challenging business environment, leading global investors continue to be attracted to the long-term fundamentals of CIIF. We are delighted to welcome both Willis Towers Watson and Morgan Stanley Investment Management to the fund, both with strong ESG mandates and both who share in our belief in the commercial opportunity in electric vehicle infrastructure as well as the importance of decarbonisation. Through Willis Towers Watson and Morgan Stanley Investment Management, we now have investments in CIIF from not only the UK and the Middle East, but also from the US, Germany, and Australia.’

Matthew Vickerstaff, Deputy Chief Executive Officer, Infrastructure and Projects Authority said,

“The private sector will play a crucial role in the ambitions to decarbonise our infrastructure and put the UK on the path to NetZero 2050.

This next investment into the Charging Infrastructure Investment Fund, alongside the recently launched National Infrastructure Strategy, reaffirms our commitment to working with the private sector, to make these newer technologies available for everyone across the country.”

Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 729 investment professionals around the world and $715 billion in assets under management or supervision as of September 30, 2020. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

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KKR Closes Inaugural Asia Pacific Infrastructure Fund at US$3.9 billion Cap

admin January 10, 2021

January 10, 2021

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Pacific Infrastructure Investors SCSp (the “Fund”), a US$3.9 billion fund focused on infrastructure-related investments across Asia Pacific.

“We are thrilled to announce the close of our inaugural Asian infrastructure fund, coming at this pivotal time for the infrastructure sector,” said Ming Lu, Head of KKR Asia Pacific. “We believe that Asia Pacific contains some of the most favorable macroeconomic dynamics in the world, and that the region is expected to account for more than half of the world’s economic growth in the coming years. However, the demand to develop or upgrade critical infrastructure assets outpaces the available public funding in many markets. Private capital is playing an increasingly important role to fill the gap in the region, and through our new fund, KKR is committed to investing in essential infrastructure solutions over a long-term horizon.”

KKR’s infrastructure investment approach combines a disciplined selection process with distinctive deal sourcing and structuring capabilities executed by a dedicated investment team based in markets across Asia Pacific. In line with this approach, the Fund will focus on critical infrastructure with low volatility and strong downside protection where KKR believes it can achieve attractive risk-adjusted returns by leveraging its global network of industry experts, its highly experienced team in Asia Pacific and long history of operational value creation. The Fund has a broad investment mandate across both emerging and developed Asia Pacific, in sectors, including waste, renewables, power and utilities, telecommunications and transportation infrastructure.

At the time of close, the Fund reached its hard cap to become the largest pan-regional infrastructure fund to have been raised for Asia Pacific. The Fund’s size aligns with KKR’s expectations for infrastructure deal flow in the region through the long-term horizon. KKR invested approximately US$300 million in capital alongside external investors through its balance sheet and employee commitments.

David Luboff, Head of Asia Pacific Infrastructure at KKR, said, “Infrastructure is a key priority for KKR in Asia Pacific and we are proud to have built one of the leading infrastructure investment platforms in the region. The size of this fund and the caliber of our limited partners reflect the strength of both our Asia Pacific and infrastructure businesses, and speaks to our ability to deliver attractive, risk-adjusted returns to our investors through a careful investment approach. Bringing together our deep, local market knowledge with decades of global industry expertise uniquely positions us to flexibly meet the crucial infrastructure needs of both developed and emerging Asia Pacific.”

The Fund, which was significantly oversubscribed and closed at its hard cap, received strong backing from a diverse group of prominent global infrastructure investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices and high net worth individual investors.

“The successful close of our new infrastructure fund demonstrates the compelling value proposition that KKR offers to investors. We are grateful for the confidence investors have placed in our Asia Pacific infrastructure strategy and talented team as they look for investments that can deliver stable capital appreciation in today’s volatile environment,” said Alisa Amarosa Wood, Head of KKR’s Private Markets Strategies Group.

KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. Over this period, the Firm has deployed more than US$24 billion across approximately 40 infrastructure investments, and currently has a team of approximately 45 dedicated investment professionals.

“One of our differentiators is KKR’s ability to provide flexible capital solutions to meet the needs of its portfolio companies across all asset classes,” said Raj Agrawal, Global Head of Infrastructure at KKR. “This unique blend of deal sourcing and structuring, along with our deep operational management and active engagement allows us to take advantage of the full range of investment opportunities created by Asia Pacific’s continued emergence as an economic engine for the 21^st Century.”

In Asia, KKR has committed US$1.8 billion across six investments as part of the Firm’s dedicated Asia Pacific infrastructure strategy, which was launched in 2019. KKR’s Asia Pacific infrastructure portfolio includes India Grid Trust, India’s leading infrastructure investment trust; Virescent Infrastructure, a renewable energy company in India; Eco Solutions Group, a leading environmental services provider in South Korea; First Gen, a leading Philippines power producer; TSK Corporation, an environmental services management company in South Korea; and Pinnacle Towers, a leading telecommunications infrastructure provider in the Philippines.

Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210110005079/en/

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

KKR Americas
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

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3i continues to support strategic M&A activity across its private equity portfolio

admin January 7, 2021

3i Group plc (“3i Group”) announces that four of its portfolio companies have recently made significant bolt-on acquisitions, expanding their geographies, capabilities and product ranges.

GartenHaus, the leading online retailer of garden homes, sheds and saunas in the DACH region in which 3i invested in September 2020, has acquired Polhus, a leading online retailer of garden houses and related products based in Sweden. Combined, GartenHaus and Polhus will be the pure-play, online market leader in both the German-speaking and Scandinavian regions.

Havea, a European leader in natural health products in which 3i invested in 2016, has acquired Laudavie, which includes Calmosine, the French specialist in children’s food supplements. Combined, Havea and Laudavie will become a leader in the babycare market in France. This is Havea’s fourth acquisition since 3i’s investment following the acquisitions of Aragan, Densmore and Pasquali Healthcare.

Cirtec, a leading global provider of outsourced medical device and components design, engineering and manufacturing in which 3i invested in 2017, has acquired NovelCath, a fast growing catheter-based delivery systems manufacturer based in Minnesota. The acquisition will enable Cirtec to further vertically expand within the core structural heart end market while increasing its existing exposure to other attractive segments including the electrophysiology, neurovascular and peripheral vascular markets. This is Cirtec’s seventh acquisition since 3i’s original investment.

Royal Sanders, a leading European private label and contract manufacturing producer of personal care products, has signed the acquisition of Royal Herkel, a private label and contract manufacturing producer of nutritional supplements, medical devices, pharmaceutical and cosmetic products based in the Netherlands. The acquisition expands Royal Sanders’ offering into vitamins, minerals and supplements, which is an attractive growth segment and a highly fragmented market. This is Royal Sanders’ second significant acquisition since 3i’s investment in 2018.

Simon Borrows, Chief Executive, 3i Group, commented: “During a challenging period, we have maintained our focus on enhancing the value of our portfolio through buy-and-build opportunities for our platform assets. These four strategic acquisitions represent significant milestones in the growth and internationalisation of GartenHaus, Havea, Cirtec Medical and Royal Sanders.”

-ends-

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For further information, contact:

3i Group plc

Silvia Santoro Investor enquiries	Tel: +44 20 7975 3258 Email: silvia.santoro@3i.com
Kathryn van der Kroft Media enquiries	Tel: +44 7721 886 304 Email: kathryn.vanderkroft@3i.com

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries.

For further information, please visit: www.3i.com

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group, and recommendations of 3i Investments plc, advised by 3i France and 3i Benelux.

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EQT AB signs EUR 1 billion Revolving Credit Facility

admin December 22, 2020

On 21 December 2020, EQT AB (publ) signed a five-year EUR 1 billion revolving credit facility (the “RCF”), supported by a syndicate of global financial institutions.

The RCF will increase the financial flexibility of EQT and be used for corporate purposes, supporting the EQT AB Group’s growth initiatives and long-term strategy. The RCF will further incorporate a pricing mechanism linked to ESG-related objectives, lowering the interest rates if targets are met, and increasing them if targets are not achieved. It will thus be in line with EQT’s overall approach of integrating sustainability throughout its activities, both on EQT AB Group level and within funds advised by EQT. As announced earlier in 2020, EQT has launched ESG-linked bridge facilities both within the Private Capital and Infrastructure business lines, today totaling more than EUR 6 billion.

The RCF was arranged by Nordea and SEB (the “Bookrunners”). It attracted a strong level of interest during syndication and was significantly oversubscribed, displaying broad support for EQT’s strategy.

In addition to the Bookrunners, a total of 13 global financial institutions participated in the syndicate: Banco Santander, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse, Deutsche Bank, DNB, Goldman Sachs, ING Wholesale Banking, J.P. Morgan, Mizuho Bank, Morgan Stanley, National Westminster Bank and Swedbank joined as Mandated Lead Arrangers.

Contact
Kim Henriksson, CFO, +46 8 506 55 300
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently has more than EUR 46 billion in assets under management across 16 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 16 countries across Europe, Asia-Pacific and North America with more than 700 employees.

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

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WATERLAND announces closing of€2.5 billion for their eight Fund

admin December 11, 2020

Waterland Private Equity Investments (“Waterland”) is pleased to announce the closing of its eighth institutional fund, Waterland Private Equity Fund VIII (“WPEF VIII”) at €2.5 billion. The fund closed at the hard cap three months after its initial launch.

WPEF VIII was considerably oversubscribed with demand significantly exceeding the fundraising target, attributable to continued strong support from existing investors combined with significant interest from new investors.

The fundraise attracted commitments from world class institutional investors with over half headquartered in Europe, over a third in the United States, and select investors from the Middle East and Asia Pacific. Public pension plans represent the largest proportion of the investor base.

WPEF VIII expects to make control investments in medium-sized quality companies in fragmented growth markets in Europe (Benelux, DACH, Poland, UK, Ireland, Nordics and France) to finance organic and acquisitive growth. This is a continuation of the successful buy-and-build investment strategy applied to the Firm’s prior funds over the last two decades.

“The fundraising for WPEF VIII has been a great success and we are grateful for the support of our investors. It is a significant achievement for us to have closed Waterland’s largest fund to date in just three months, doing so completely remotely and during the COVID-19 pandemic. We look forward to making investments with our eighth fund, for which we see many attractive opportunities in the target region. We remain thankful for the continued support of our existing investors, and we are proud of the high quality of the new investors we now welcome into WPEF VIII.” said Frank Vlayen, Group Managing Partner.

Marc Lutgen, Head of Investor Relations, said: “The success of the fundraise of WPEF VIII despite the challenges presented by a global pandemic reflects investors’ confidence in Waterland’s strategy and team. We are grateful for the support our investors have shown us and their ease towards adapting their investment processes to enable remote diligence.”

MVision Private Equity Advisers acted as the global strategic fundraising adviser for Waterland. Kirkland & Ellis International LLP acted as the global legal, tax and regulatory counsel. De Brauw Blackstone Westbroek N.V. acted as Dutch legal counsel.

For further informationen please contact:
Marc Lutgen, Head of Investor Relations, Waterland, lutgen@waterland.nu

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Andera Partners renames all its activities

admin December 11, 2020

Andera Partners unveils today the new names of its four investment teams. Two years after becoming independent in 2018, the leading private equity management company is strengthening communication around all its activities, with a focus on the Andera brand.

BioDiscovery, which supports the development of innovative therapeutic products and medical technologies (amounts invested from €5 million to €35 million), has become ANDERA LIFE SCIENCES.

ActoMezz, the team dedicated to sponsorless mezzanine investments (amounts invested from €10 million to €100 million), has become ANDERA ACTO.

Cabestan Capital, dedicated to supporting growth SMEs (amounts invested of €7 million to €20 million), has become ANDERA EXPANSION, while Cabestan Croissance (amounts invested of €2 million to €7 million) has become ANDERA CROISSANCE.

Winch Capital, which helps growth mid-caps to upscale (amounts invested from €20 million to €100 million), has become ANDERA MIDCAP.

Andera Partners’ mission is to work alongside companies and their managers to support them towards strong and sustainable growth. Our performance relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. We therefore wanted to place this identity at the heart of our communication through a brand signature reflecting the power of collective commitment: “The Power of And”.

With the Andera brand now part of each of our business teams’ names, we are seeking to take our management company to the next level, growing it and extending its influence by highlighting the strength of our partnership.

Sylvain Charignon and Raphaël Wisniewski, managers of Andera Partners: “Andera Partners is now clearly recognized by our ecosystem as an original and attractive model, with a strong identity. More than two years after becoming independent, the Andera brand has acquired a firm footing in the market; it was therefore the appropriate time to turn the page on the historical brands associated with our teams – some of which were chosen 20 years ago, while others were adopted or created more recently. We are thus strengthening the parental links of each of our activities to the Andera brand. These new team names will raise our brand’s profile among all our stakeholders, investors, entrepreneurs, employees and advisers, by highlighting the strength of the Andera partnership, which now represents 70 employees and €2.5 billion in assets under management.”

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Silversmith Capital Partners Expands Advisory Board with Addition of Mike Volpe as New Senior Advisor

admin December 3, 2020

Silversmith Capital Partners, a growth equity firm focused on supporting the best entrepreneurs in technology and healthcare, today announced that Mike Volpe, CEO of Lola.com, has joined the firm as a Senior Advisor. With an extensive background leading marketing at high-growth technology companies, Mike will provide strategic value-add to the Silversmith portfolio as they accelerate their growth as well as support due diligence on new investments.

“We have a long-shared history with Mike that goes back decades as a friend, fellow board member and co-investor,” said Jim Quagliaroli, Managing Partner of Silversmith. “Mike was the first person we asked to join the board at Validity at the time of our investment in 2018, and since that time he has joined us as a co-investor in other founder-led companies we have backed, including Appfire. We are excited to now have him join us as a Senior Advisor. His background will be a significant asset to the Silversmith portfolio as they develop and implement impactful go-to-market strategies.”

Mike is a highly regarded executive with over 20 years of marketing leadership experience in the technology sector. He is active in the Boston SaaS and startup communities as a member of the board of directors of Validity (a Silversmith portfolio company) and Privy, and as an angel investor in more than 30 startups. Mike has served as a strategic individual investor in multiple investments across Silversmith’s first, second, and third funds.

Mike is currently the CEO at Lola.com, a corporate travel SaaS platform that helps companies stop wasting time and start saving money on their business travel programs. Previously he was CMO at Cybereason, a cybersecurity SaaS company, where he helped the company increase its sales pipeline by 650% in a single year and grow revenue by 5x during his tenure. Mike was also part of the founding team at HubSpot, where he spent eight years growing the company from five people to over 1,000 employees, $175 million in revenue, and a successful IPO. He holds an MBA from the MIT Sloan School of Management and a BA from Bowdoin College.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

For media Inquiries, please contact:

Kate Castle

Chief Marketing Officer

Silversmith Capital Partners

P: 617.670.4345

kate@silversmithcapital.com

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AURELIUS Equity Opportunities completely repays its 2015/20 convertible bond

admin December 2, 2020

Munich, December 2, 2020 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) completely repaid its 2015/20 convertible bond (ISIN: DE000A168544) maturing on December 1, 2020 to the bond creditors. The repayment amounted to 100 percent of the aggregate principal amount plus interest for the past 12 months.

The aggregate principal amount of the AURELIUS convertible bond was originally EUR 166.3 million; this amount was reduced to EUR 103.1 million in July 2018 as a result of conversions.

“We are seeing a lot of interesting acquisition candidates right now. After the repayment of the convertible bond we are and remain very well equipped and funded to pursue opportunities we currently see in the market,” said Matthias Täubl, CEO of AURELIUS Equity Opportunities. “As a general rule we keep all financing options under consideration.”

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Blackstone Announces Agreement to Acquire DCI, a Pioneer in Technology-driven, Quantitative Credit Investing

admin November 30, 2020

NEW YORK, November 30, 2020 – Blackstone (NYSE:BX) today announced that it has agreed to acquire DCI, a pioneer in quantitative credit investing with approximately $7.5 billion in AUM across the global investment grade, high yield and emerging corporate credit markets. The firm, based in San Francisco, applies a proprietary, fundamental-based, technology-driven model to deliver differentiated returns to clients. DCI is led by a team of seasoned professionals who are recognized experts in quantitative and systematic fixed income research.

DCI will become part of Blackstone Credit, a global leader in private lending, syndicated leveraged loans and collateralized loan obligations. The transaction will broaden Blackstone Credit’s capabilities in high yield and investment grade, enable the integration of DCI’s models and technology across the combined Blackstone Credit and DCI platforms and increase access to investors via a UCITs platform. DCI’s investment process will benefit from Blackstone’s resources, scale and deep relationships across global financial markets.

Dwight Scott, Global Head of Blackstone Credit, said: “DCI has a more than 15-year track record of developing and applying technology-driven strategies and is at the forefront of the evolution towards quantitative investing in the corporate bond market. DCI will strengthen and differentiate the solutions we provide to our retail, institutional and insurance clients.”

Tim Kasta, CEO of DCI, said: “Joining Blackstone Credit will provide DCI’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”

Blackstone Credit is one of the world’s largest credit-focused asset managers, with $135 billion in AUM and a team of over 350 professionals (as of September 30, 2020). Its strategies cover the corporate credit market, with leading positions in both liquid and private markets.

About DCI
DCI is an independent asset management firm specializing in investment grade, high yield, and emerging market corporate credit strategies. The firm manages long-only and long/short strategies for some of the world’s largest institutional and private wealth investors. DCI deploys a fundamental based, systematic approach seeking to exploit potential inefficiencies in the corporate credit markets. DCI was awarded the Hedge Fund Journal’s “Corporate Credit – Market Neutral, Best Performing Fund in 2019 and over 2, 3, 4, 5, and 7 Year Periods” for the DCI Market Neutral Credit Fund (UCITS). This is the 4th consecutive year DCI has been presented with this award. DCI was co-founded in 2004 by Stephen Kealhofer, Mac McQuown and David Solo.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact
Kate Holderness
Kate.holderness@blackstone.com
917-318-6818

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CVC Credit Partners prices its fifth CLO since June

admin November 27, 2020

Cordatus XIX increases CVC Credit Partners’ total new CLO issuance in 2020 to more than $2 billion

CVC Credit Partners (“CVC Credit”) is pleased to announce the pricing of Cordatus XIX, a Collateralized Loan Obligation (“CLO”) fund totalling €379 million arranged by Barclays.

This will be the fifth CLO fund raised by CVC Credit in 2020 and increases our aggregate global issuance for the year to c.$2.0 billion (c.€1.7 billion). It is also the third European CLO fund raised, following the closing of Cordatus XVII in June (€290 million) and Cordatus XVIII in November (€383 million), together these three funds total more than €1 billion.

Cordatus XIX was assembled in just six weeks from a warehouse which opened in October and will have a four-year reinvestment period (which is a market first in Europe post-COVID). As with previous Cordatus CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Guillaume Tarneaud, Senior Managing Director and Portfolio Manager at CVC Credit Partners, said: “We are delighted to have priced our third European CLO of the year and pleased to have constructed a robust portfolio by taking advantage of attractive loan prices pre US elections. This latest raising increases our aggregate CLO AUM in Europe to circa $7.5 billion.”

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, said: “Despite the challenging economic environment we have continued to grow our CLO business in 2020 and now have global CLO assets of more than $17 billion. We have a top class, transatlantic performing credit business, split evenly between London and New York and we hope our next U.S. focused CLO will come to market soon.”

Closing is expected in January 2021 and is subject to customary closing conditions.

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Tag Archives: Investments

Zouk Capital announces third close in Charging Infrastructure Investment Fund

KKR Closes Inaugural Asia Pacific Infrastructure Fund at US$3.9 billion Cap

3i continues to support strategic M&A activity across its private equity portfolio

EQT AB signs EUR 1 billion Revolving Credit Facility

WATERLAND announces closing of€2.5 billion for their eight Fund

Andera Partners renames all its activities

Silversmith Capital Partners Expands Advisory Board with Addition of Mike Volpe as New Senior Advisor

AURELIUS Equity Opportunities completely repays its 2015/20 convertible bond

Blackstone Announces Agreement to Acquire DCI, a Pioneer in Technology-driven, Quantitative Credit Investing

CVC Credit Partners prices its fifth CLO since June