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Bain Capital and 11North Partners Acquire Portfolio of Open-Air Lifestyle Retail Centers in Oklahoma City

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BOSTON AND NEW YORK – June 25, 2025 – Bain Capital and 11North Partners (“11North”), a retail-focused investment platform, today announced the acquisition of three open-air, lifestyle retail centers in Oklahoma City for approximately $212 million.  The private transaction was completed via an exclusive joint venture between Bain Capital Real Estate and 11North that focuses on acquiring and operating open-air retail centers throughout the U.S. and Canada.

Competitively located in the affluent and growing Nichols Hills submarket of Oklahoma City, the portfolio includes Nichols Hills Plaza, The Triangle at Classen Curve, and Classen Curve, which together comprise  nearly 40 acres of high-performing open-air lifestyle centers with occupancy rates exceeding 97%.  The properties are recognized as the go-to choice for national retailers seeking to enter the market and are among the most frequented neighborhood centers in the state.  The three centers are anchored by Whole Foods and Trader Joe’s and complemented by more than 50 unique-to-market tenants including Lululemon, Warby Parker, West Elm, Anthropologie, Sephora, and Kendra Scott, the portfolio benefits from high traffic volumes and enjoys proximity to the two largest private employers in the city – Integris Baptist Medical Center and Chesapeake Energy Headquarters.

Bain Capital Real Estate and 11North, founded by CEO Brian Harper, a 25-year real estate industry veteran with deep retail experience, formed a strategic joint venture in April 2024 to acquire open-air retail assets with a high concentration of necessity-based tenants.  At 11North, Mr. Harper is joined by several senior executives from RPT Realty, who have a long track record of working as a team to create value and transform assets.

“We believe the market opportunity today represents a compelling time to be investing in open-retail centers, an asset class which has proven resilient through multiple economic cycles and continues to benefit from attractive, long-term fundamentals, a convenience-oriented and necessity-driven consumer, and strong retail sales and tenant demand,” said Mr. Harper.  “As one of the most dominant, highest quality assets in the region, the acquisition of these three trophy assets is representative of our platform’s differentiated sourcing capabilities and deep industry relationships.  Together with the partnership and support of our partners at Bain Capital, along with our global investors, we are well-positioned to capitalize on the many opportunities ahead of us as we seek to create a high-quality portfolio of scale.”

“This portfolio’s combination of national retailers and superior demographics strongly aligns with our strategy of investing in well-located, open-air properties that serve as essential retail centers in the communities where people live and work,” said Martha Kelley, a Managing Director at Bain Capital Real Estate.  “Through Bain Capital’s more than 40 years of investing in the consumer and retail sector and our collaborative partnership with Brian and the 11North team, we have created a differentiated platform that is well-capitalized to seize the compelling open-air retail opportunity and create value for our trusted investors.”

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About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.

About 11North Partners 
11North Partners is a real estate investment firm focused on curating a portfolio of retail investments diversified across markets and product types. With a focus on the intersection of superior performance and bold vision, the 11North team is dedicated to redefining the traditional approach to retail real estate.

The team’s combination of deep industry expertise, retailer and owner relationships, and blue-chip institutional partners provides unique insight into the ever-evolving retail landscape and unparalleled access to deal flow. 11North seeks to deliver attractive risk-adjusted returns through unlocking value across retail verticals including real estate ownership, debt and operating company investment. For more information, visit https://www.11northpartners.com.

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Apollo Names Celia Yan as Head of Hybrid for Asia Pacific

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HONG KONG, June 26, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Celia Yan has joined the firm as a Partner and Head of Hybrid for Asia Pacific. Based in Hong Kong, Yan will lead the expansion of Apollo’s hybrid platform across the region, building on the firm’s momentum in delivering flexible, tailored capital solutions across private markets.

Apollo’s hybrid business focuses on delivering creative, partnership-driven solutions that sit between traditional debt and equity. We provide solutions that help companies fund growth initiatives, generate liquidity and deleverage balance sheets, among other bespoke applications. In this newly created role, Yan will drive origination, execution and growth for Apollo’s hybrid strategies in Asia Pacific.

Yan brings over 20 years of industry experience and extensive private investment expertise across Asia Pacific, most recently serving as Head of APAC Private Credit at BlackRock. Previously, she held senior investment roles at ADM Capital, National Australia Bank and Equity Trustees Limited (EQT).

“Celia’s experience across private markets investing, managing cross-border teams and growing business verticals makes her a key addition as we grow our hybrid business in Asia Pacific,” said Matthew Michelini, Partner and Head of Asia Pacific at Apollo. “As companies and investors increasingly seek structured and creative solutions, Celia will help us deliver for clients across the region.”

Chris Lahoud, Partner at Apollo, said: “As capital markets evolve, we see an attractive opportunity for hybrid growth in the region, providing partnership-oriented, flexible capital to companies and projects.”

“Apollo’s integrated platform and global reach, paired with a strong local presence, position the firm to deliver hybrid capital at scale,” said Celia Yan. “Across Asia Pacific, businesses and sponsors are looking for non-dilutive, customized solutions that can address real market inefficiencies—and hybrid is increasingly the answer. I’m excited to join the team and help accelerate this strategy across the region.”

Yan holds a Bachelor of Commerce from the University of Melbourne and a Master’s in Applied Econometrics from Monash University.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

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

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

Categories: People

EQT exits property remediation specialist Recover

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  • Following EQT’s acquisition in 2020, Recover has invested in its digital capabilities while divesting non-core business units to sharpen focus on water, fire and other core property remediation services

Recover, a leading Scandinavian property remediation specialist, today announced a change of ownership from EQT VIII (“EQT”) and minority investors to industrial investment company Pangea AS.

Recover, which employs approximately 1,730 people across the Nordics, plays a critical role in providing essential restoration services following water, fire, and environmental damage. EQT acquired the Company in early 2020 and despite the challenges presented by the COVID-19 pandemic, Recover has undergone a significant transformation. The Company has been future-proofed through strategic investments in digitization, including a new ERP and FSM system, and has sharpened its focus by divesting non-core business units.

Åge Landro, CEO of Pangea and Chair of Recover, commented: “Recover is a market-leading platform with strong operations and highly dedicated employees. We are excited to partner with the Company and look forward to supporting its continued growth journey across the Nordics and beyond.”

Juho Frilander, Managing Director in the EQT Private Equity advisory team, added: “We would like to thank the management team and all employees at Recover for their hard work and commitment over the past years. The transformation of the business has been impressive and Recover is now well-positioned to thrive in the years to come.”

The transaction is subject to customary conditions and regulatory approvals.

Contact
EQT Press Office, press@eqtpartners.com

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About EQT
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, 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, X, YouTube and Instagram 

About Pangea
Pangea AS is an investment company focused on fostering sustainable growth by partnering with businesses across various industries and sectors. Its mission is to drive long-term value and success through strategic investments. Pangea is headquartered in Norway, with operations in 8 countries.  Pangea takes an active ownership approach and collaborates closely with management teams and employees.

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Gimv invests in Alpine to support its growth ambition and enhance its leading position in consumer hearing protection

GIMV

Gimv acquires a majority stake in Alpine, one of the leading international consumer brands providing passive hearing protection solutions, from Vendis Capital, the founders and management team. The management team reinvests part of its proceeds and teams up with Gimv to realize the next growth chapter of the company.

Alpine (www.alpine.nl), founded in 1994 and headquartered in the Netherlands, is a leading international brand in passive, premium consumer hearing protection. The company operates in more than 65 countries worldwide, benefiting from strong global omni-channel capabilities.  Alpine offers an extensive product portfolio of high-quality earplugs and earmuffs, designed to meet the evolving needs of consumers worldwide. Backed by a strong management team with a proven track record, Alpine emphasizes ESG principles, demonstrated by its recently acquired B-Corp status and focus on reusable products.

The passive hearing solution market is growing rapidly, with Alpine standing out as one of the global leaders in a fragmented landscape. Its strong international presence and well-executed multi-channel strategy – spanning OTC/retail, events, and e-commerce – position the company for sustained long-term growth. The company enjoys attractive margins and strong cash conversion, driven by scale advantage and premiumization.

As a premium, purpose driven consumer brand Alpine perfectly fits Gimv Consumer’s investment focus. The hearing protection market is benefiting from powerful underlying trends, including increased health awareness, a growing demand for more premium reusable alternatives, and a heightened focus on ESG. As consumers shift away from disposable products toward innovative, sustainable solutions, Alpine is well-positioned to lead this transformation. The partnership reflects Gimv’s commitment to supporting consumer businesses that promote long-term consumer well-being while driving positive environmental and social impact.

Patrick Franken and Jelle Assink, Partner and Principal in Gimv’s Consumer team, declare: “We are very excited to partner with the Alpine team and support them on their mission to shape the future of hearing protection. As the world grows louder, consumers are becoming increasingly aware of the importance of protecting their hearing. With its strong brand, an innovative product portfolio and broad international multi-channel reach, Alpine is uniquely positioned to elevate the global consumer awareness and lead the shift toward reusable hearing solutions. Alpine can count on Gimv on their growth journey, strengthening Alpine’s presence in key markets and exploring new opportunities for sustainable, long-term growth.”

Koen Bouckaert, Managing Partner Gimv Consumer, declares: “The Consumer investment in Alpine is another proof point that Gimv is willing and able to deploy larger investment tickets in fast-growing, more mature companies, supported by long-term fundamental trends and enabled by a seasoned management team.” 

Arthur van Keeken, CEO of Alpine, declares: “We are delighted to be partnering with Gimv, united by a clear ambition and vision. Over the past years, Alpine has firmly strengthened its position as a leading player in the fast-growing premium hearing protection market. At the same time, we have transformed our internal organization into a professional and sustainable growth platform. Thanks to this strong foundation, we are fully ready for the next step — and Gimv is the perfect fit. With Gimv by our side, we are confident that we can further accelerate our growth and mission.”

The size of this investment is in line with Gimv’s strategic ambition to increase the average ticket size of its investments. Alpine directly enters the top 5 participations in Gimv’s current portfolio. No further financial details on this transaction are being disclosed. The transaction remains subject to the works council advisory procedure.

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Diversified Energy and Carlyle Enter Strategic Partnership to Invest in Up to $2 Billion of PDP Energy Assets

Carlyle

BIRMINGHAM, AL and NEW YORK, NY – June 23, 2025 – Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) (“Diversified,” or “DEC”), a leading publicly traded natural gas and liquids production company, and global investment firm Carlyle (NASDAQ: CG) have today announced a strategic partnership to invest in up to $2 billion in existing proved developed producing (PDP) natural gas and oil assets across the United States.

This exclusive partnership will combine Carlyle’s deep credit and structuring expertise, led by Carlyle’s asset-backed finance (ABF) team, with Diversified’s market-leading operating capabilities and differentiated business model of acquiring and optimizing portfolios of existing long-life oil and gas assets to generate reliable production and consistent cash flow.

The partnership enhances Diversified’s access to capital in an attractive acquisition market. Under the terms of the agreement, Diversified will serve as the operator and servicer of the newly acquired assets. As investments occur, Carlyle intends to pursue opportunities to securitize these assets, seeking to unlock long-term, resilient financing for this critical segment of the nation’s energy infrastructure.

“We are excited to partner with Carlyle, a leader in the asset-backed finance space. This arrangement significantly enhances our ability to pursue and scale strategic acquisitions in what we believe is a highly compelling environment for PDP asset consolidation,” said Rusty Hutson, Jr., CEO of Diversified Energy. “We continue to see a robust pipeline of opportunities and the growing need for operational scale and efficiency. With Carlyle’s support, we are well-positioned to capitalize on these trends while aiming to generate sustainable cash flow and value for our shareholders.”

“Diversified is a leading operator of long-life energy assets and a pioneer in bringing PDP securitizations to institutional markets,” said Akhil Bansal, Head of Asset-Backed Finance at Carlyle. “We are excited to bring institutional capital to high-quality, cash-yielding energy assets that are core to US domestic energy production and energy security. This partnership underscores Carlyle’s ability to originate differentiated investment opportunities through proprietary sourcing channels and seek access to stable, yield-oriented energy exposure.”

Carlyle Asset-Backed Finance (“Carlyle ABF”) is a group within Carlyle’s Global Credit platform focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to help deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. Carlyle ABF has deployed approximately $8 billion since 2021 and has approximately $9 billion in assets under management as of March 31, 2025.

About Diversified Energy Company PLC

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group

Media Contacts

Diversified Energy Company PLC

Doug Kris

Senior Vice President, Investor Relations & Corporate Communications

(973) 856 2757

dkris@dgoc.com

 

Carlyle

Kristen Ashton

Corporate Communications

(212) 813-4763

Kristen.ashton@carlyle.com

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Gimv sells stake in Belgian technology scale-up Itineris to Cobepa

GIMV

Gimv and other financial investors sell their stake in Itineris to Cobepa. Founder and CEO Edgard Vermeersch remains significantly invested in the company. Together with Cobepa, the management team intends to continue Itineris’ growth, internationalization and innovation journey.

Founded in 2003 by entrepreneur Edgard Vermeersch, Itineris develops innovative software solutions that allow energy and water utilities to reach operational efficiency, achieve their environmental goals, and improve the relationship with, and experience of, their end customers. The company currently employs around 550 people in Europe and the United States and is expected to realize a turnover of more than 100mio EUR in 2025.

Since Gimv’s investment in 2013, Itineris has experienced sustained growth in its home region of Benelux and successfully expanded into the US and UK markets. Several large US cities currently use Itineris software to optimize the management of utility services, including New York, Dallas, Baltimore, Dakota, Georgetown, and Boston. In 2021, Itineris acquired Opinum, a Belgian software company that develops a data platform for energy and water utilities. This acquisition allowed Itineris to enhance its ability to support utilities in the energy transition by leveraging the untapped potential of their data.

Ruben Monballieu, Partner Sustainable Cities, declares: “Itineris has grown into a leading international technology player that contributes to the more efficient operation of utility companies. This is the result of a unique combination of Edgard’s vision and entrepreneurship, a talented team fully committed to innovation and technology, and a diverse and strong local professional shareholder base. We are proud of the impressive growth and successful internationalization that Itineris has achieved and the active contribution we have been able to provide with Gimv Sustainable Cities.”

Edgard Vermeersch, CEO & Founder of Itineris, declares: “Our unwavering commitment to customer satisfaction and long-term strategic partnerships with our customers has positioned us uniquely within the industry. The trust our customers place in us has fostered a very strong, loyal and vibrant community on both sides of the Atlantic. It is my ambition to continue building on this legacy. I would like to express my sincere gratitude to Gimv and our other former institutional investors for their trust and partnership over the years. Their support has been instrumental in bringing Itineris to where it stands today.”

Since joining this scale-up in 2013 and making subsequent investments, Gimv is able to generate significant realised value, aligning with its target return. This transaction has a positive impact on Gimv’s net asset value as of 31 March 2025 by slightly less than EUR 1 per share. No further financial details are being disclosed.

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CapMan Plc and CAERUS Debt Investments AG enter partnership and launch new investment area CapMan Real Asset Debt

Capman

CapMan Plc and CAERUS Debt Investments AG enter partnership and launch new investment area CapMan Real Asset Debt

CapMan Plc (“CapMan”) and CAERUS Debt Investments AG (“CAERUS”) have today signed an agreement where CapMan acquires 51 per cent of the shares of CAERUS from the company’s current shareholders.

CAERUS is a leading manager for real estate debt investments in Germany and one of the pioneers in the market. With its long presence in the market and strong track-record, CAERUS has demonstrated its expertise in sourcing and selecting attractive investment opportunities for institutional investors. With a team of 12 investment professionals, CAERUS offers tailored real estate debt financing across nearly all real estate segments with a focus on the DACH and Benelux regions. Since its inception in 2014, CAERUS has raised in total EUR 2.6 billion and today has seven active funds, with some EUR 700 million of assets under management.

CapMan is a leading Nordic private asset expert with a focus on real asset investments and an active approach to value creation. CapMan currently has EUR 6.4 billion in assets under management spanning real estate, infrastructure, natural capital and private equity. CapMan has 200 employees across seven offices in the Nordics, London and Luxembourg. The largest investment area, CapMan Real Estate has a team of more than 80 investment professionals and asset managers that manage funds and mandates across value-add and specialised income strategies with total assets under management of EUR 3.5 billion.

With the partnership CapMan establishes a new investment area CapMan Real Asset Debt, which complements the existing real estate, infrastructure and natural capital investment areas and further strengthens CapMan’s focus on real asset investments. The partnership is aligned with CapMan’s growth strategy and supports the strategic objective of reaching EUR 10 billion of assets under management through scaling existing real asset funds, launching new products and targeted acquisitions.

The market for private real asset debt is large and well-established with an attractive growth outlook. Private real estate debt offers competitive solutions for borrowers in complex situations when e.g. bank financing is limited or unavailable. For institutional investors it is an attractive asset class with several benefits such as stable yield, downside protection, diversification and attractive risk adjusted returns.

“This is a significant step for CapMan that further strengthen our focus on real asset investments and expands our presence to Germany. Real asset debt is a natural addition to our existing offering and an area where we see increasing demand and investor interest. I’m impressed with CAERUS’ extensive experience in the area, and excited to join forces with founder and CEO Michael Morgenroth and his team. They have a demonstrated ability to deliver sustainable returns to their investors over the cycles and an entrepreneurial mindset to developing their business. These are values that align with those of CapMan perfectly,” says Pia Kåll, CEO of CapMan.

“The whole CAERUS team is thrilled to partner with CapMan and look forward to this next chapter. CapMan’s platform and strong presence in the Nordics especially within real estate provides us access to asset management resources and local market understanding that offer interesting expansion opportunities. At the same time, we can support CapMan’s investment teams with local knowledge of the DACH and Benelux regions. By pooling our expertise, we are further expanding our market position in continental Europe and enabling our clients to benefit from this stronger market presence,” says Michael Morgenroth, founder and CEO of CAERUS.

At closing of the transaction Michael Morgenroth will be appointed to CapMan’s Management Group as Managing Partner for Real Asset Debt investment area.

The acquisition is expected to be completed during the third quarter of 2025 after customary closing conditions have been fulfilled.

For more information, please contact:

Charlotte Wessman, CapMan Head of Communications, +46 734 290832

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

About CAERUS
CAERUS Debt Investments AG (CAERUS), founded in 2012 and based in Düsseldorf, is the leading independent provider of institutional real estate debt investments in continental Europe. CAERUS is one of the pioneers in the real estate debt market segment and finances real estate projects and transactions in continental Europe with a focus on the DACH region and the Benelux countries. As an investment advisor, CAERUS acts for Luxembourg-based multi-investor funds as well as for individual mandates and offers institutional investors attractive access to real estate debt investments, taking into account their specific regulatory requirements. To date, CAERUS has launched seven real estate debt funds, which have received around EUR 2.6 billion in capital commitments from institutional investors and financed a loan volume of around EUR 2.7 billion. The team’s extensive expertise and many years of experience in the areas of financing and real estate investment make CAERUS a reliable and trustworthy partner for institutional investors and borrowers alike. www.caerus.ag

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Blackstone Completes CDN$7 Billion Equity Investment in Rogers in Partnership with Leading Canadian Institutional Investors

Blackstone

NEW YORK – June 20, 2025 – Blackstone (NYSE: BX) has successfully closed its previously announced CDN$7 billion equity investment in Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI).

Under the terms of the transaction, funds managed by Blackstone Credit & Insurance (“BXCI”) and leading Canadian institutional investors have acquired a non-controlling interest in a newly established subsidiary of Rogers that owns a portion of the company’s wireless backhaul transport infrastructure.

The Blackstone-led investor group includes Canada Pension Plan Investment Board (CPP Investments), Caisse de dépôt et placement du Québec (La Caisse), the Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation (BCI) and the Investment Management Corporation of Ontario (IMCO).

Robert Horn, Global Head of Infrastructure & Asset Based Credit at Blackstone, said: “We’re thrilled to close this transaction with Rogers to further their growth and balance sheet objectives. This is another example of Blackstone providing flexible and efficient capital solutions for the world’s leading corporations, while delivering what we believe is a highly differentiated opportunity for our investors.”

Mark Rutledge, US Head of Infrastructure Services at Blackstone Credit & Insurance, added: “Rogers’ backhaul network is positioned to enable the powerful megatrends we see in mobile data usage. We are excited to support Rogers in its next phase of investment and growth.”

BXCI’s Infrastructure and Asset Based Credit platform manages over $90 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace.

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

Contact
Thomas Clements
Thomas.Clements@blackstone.com
(646) 482-6088

Categories: News

Apollo Commits to £4.5 Billion Financing for Électricité de France, Marking the Largest Sterling-Denominated Private Credit Transaction

Apollo logo

Proceeds to primarily finance EDF projects in the UK, notably the Hinkley Point C nuclear power station

NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed affiliates, funds, and strategic accounts have signed an agreement to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (“EDF”) pursuant to its €50 billion Euro Medium Term Note (“EMTN”) program. Proceeds from the financing will be used primarily to finance EDF projects in the United Kingdom, most notably the Hinkley Point C nuclear power station. This transaction represents one of the largest sterling-denominated note issuances on record.

Apollo Partner Jamshid Ehsani said, “Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.”

Ehsani continued, “This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.”

This investment also builds on Apollo’s longstanding history of investing in French companies for nearly three decades. Notably, Apollo has provided €2.5 billion of High-Grade Capital Solutions across three transactions to Air France-KLM in recent years.

Since 2020, under its High-Grade Capital Solutions strategy, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Intel, Air France-KLM, BP, Sony, AB InBev, Vonovia, and more.

Latham & Watkins, LLP and Kirkland & Ellis LLP acted as legal counsel to Apollo while Apollo Capital Solutions Europe B.V. is providing structuring and arrangement services in connection with the transaction. BNP Paribas and Hogan Lovells, LLP acted as financial and legal advisors, respectively, to EDF.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

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

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

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3i announces sale of MPM to Partners Group, generating gross proceeds of c.£400m and MM of 3.2x

3I

3i Group plc (“3i”) today announces that a definitive agreement has been signed whereby MPM, a global leader in premium, natural pet food, will be sold to Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients. Total gross proceeds to 3i are estimated to be c.£400m, which represents a c.17% uplift on its 31 March 2025 valuation and c.29% uplift on its 31 December 2024 valuation. Including proceeds already received, this represents a 3.2x multiple of invested capital and an IRR of 29%.

MPM owns the Applaws, Reveal and Encore brands. These well-established cat-led brands are characterised by high-quality, human-grade products, made with natural, clean-label ingredients. MPM’s proposition resonates well with consumers and retailers alike.

Since 3i’s investment in December 2020, MPM’s sales and EBITDA have more than doubled. The company has broadened its omnichannel footprint and scaled significantly, driven by strong growth across pet specialty, food / drug / mass retail, and online channels. International sales now represent c.80% of revenues (US, EMEA and APAC).

Alongside organic growth, 3i has supported MPM through strategic initiatives across brand, product innovation, operations and sustainability, with MPM recertifying as a B Corp in 2024.

Julian Bambridge, CEO, MPM, said: “3i has been an outstanding partner. Their support in expanding our international footprint, investing in innovation and elevating our brand has been instrumental in MPM’s success. We are proud of the global platform we have built together and are excited for the next chapter.”

Rupert Howard, Partner, 3i, said: “It has been an absolute pleasure partnering with Julian and the entire team at MPM. At every step, the team has over-delivered and we are extremely proud of what we have achieved together over the last 4.5 years as we have developed MPM’s brands, customers, channels and geographies. We wish the team and Partners Group every success as MPM continues to expand its international presence in premium natural cat food.”

The transaction is subject to customary regulatory approvals and is expected to complete in Q3 2025.

Harris Williams is acting as financial advisor for 3i.

 

-Ends-

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For further information, contact:

Silvia Santoro
Investor enquiries

Kathryn van der Kroft
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Categories: News