Main announces strategic exit of Optimizers to Orisha after successful partnership

Main Capital Partners

Main Capital Partners is pleased to announce the successful sale of Netherlands-based Optimizers to Orisha, a French business software provider for construction, real estate, retail/wholesale and healthcare backed by TA Associates. During its partnership with Main, Optimizers transformed its profile into a comprehensive European provider of e-commerce enablement software, offering valuable solutions to its international customer base to improve their e-commerce processes across the entire value chain.

Main Capital Partners made its strategic investment in Optimizers in 2019. Supported by Main, Optimizers substantially strengthened its product proposition into an extensive software suite in e-commerce and further solidified its international presence across North-Western Europe and the US, currently employing around 170 employees.

Under Main’s stewardship, Optimizers substantially expanded its addressable market, and grew its software business significantly, both organically as well as through three strategic (international) add-on acquisitions. As a result, recurring revenue grew sevenfold during this period. Optimizers is well positioned to further capitalize on these achievements in the coming years and is now supported by Orisha.

Stefan van Diggelen, CEO of Optimizers, comments on the combination with Orisha: “We look back at a fruitful cooperation with Main, during which we expanded our market position significantly and we were able to optimize our organizational efficiency as well, boosting the company’s overall performance. Looking ahead, we are excited to embark on this new chapter for Optimizers alongside Orisha. This partnership not only enhances our access to additional expertise and experience but it most importantly further strengthens our ability to provide our customers with a unified commerce experience, worldwide.”

“We are delighted to announce this major milestone for Orisha. The acquisition of Optimizers opens up exciting new prospects for the group. Thanks to this transaction, Orisha will become a major player in Omnichannel Unified Commerce in Europe, and will actively participate in the transformation of this sector. We look forward to finalizing this transaction with Main Capital, and to exploring the new growth opportunities it should bring us,” adds Jacques Ollivier, CEO of Orisha.

Ivo van Deudekom, Investment Director at Main Capital and Member of the Supervisory Board of Optimizers, concludes: “Through Main’s specialized investment strategy, we supported in transforming the business into a resilient business model by increasing the recurring revenue percentage of the business. With strong (international) autonomous growth, supplemented with three strategic add-on acquisitions followed by strong up- and cross sell execution, recurring revenues grew sevenfold as a result. We congratulate Optimizers on this successful sale to Orisha; we feel Orisha is a perfect new home for Optimizers to continue this impressive growth story.”

This is a proposed transaction and is subject to standard conditions precedent. The acquisition is expected to be finalized shortly. Financial details will not be disclosed.

We congratulate Optimizers on this successful sale to Orisha; we feel Orisha is a perfect new home for Optimizers to continue this impressive growth story.

– Ivo van Deudekom, Investment Director at Main Capital Partners

About

Optimizers

Optimizers, founded in 2006, is a comprehensive European provider of e-commerce enablement software, offering a versatile platform of solutions for B2B and B2C digital commerce excellence, under the three strong brands: Tweakwise, Core-suite and Vendre. Optimizers’ software suite enables its customers to improve their e-commerce processes across the entire value chain, including solutions for search & discovery, e-commerce platform- and sales portal-related solutions, software for sales representatives, warehouse management & EDI software solutions, and a driver application for transport & (home) delivery. The suite is delivered to a wide range of industries in more than 25 countries. With its headquarters in Nijkerk, The Netherlands, the company has offices in The Netherlands, Sweden (Stockholm) and the US (New York), with c. 170 employees and serves close to 1,500 customers world-wide.

Orisha

Founded in 2003, Orisha is a European software publisher dedicated to companies in the retail, real estate, healthcare and construction sectors. Since its creation, Orisha has been helping companies to succeed by offering them solutions tailored to their business needs and essential to their activity (cash collection, commercial and financial management, stock management, CRM, HR, E-Commerce). Each day, Orisha’s solutions facilitate millions of interactions and transactions in a hyper-connected world. Since 2021, Orisha has been backed by TA Associates, a global private equity player and leader in the technology sector. In 2023, Orisha achieved sales in excess of €200m. The group, which was born in France, employs 1,300 people in Europe and supports clients in over 50 countries.

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4impact capital invests in Coolgradient AI data center optimisation software

4Impact

Impact venture capital fund 4impact capital invests in AI software startup Coolgradient. The Amsterdam-based startup, founded by Jasper de Vries and René Gompel in 2023, has built the most comprehensive software solution to optimize complex cooling and power infrastructure operations in data centers.

Coolgradient makes data centers intelligent by converting existing data into actionable recommendations and improved visibility, delivering increased reliability and improved sustainability by reducing data center infrastructure energy by up to 40%. Coolgradient achieves these superior results by capturing interdependencies between all operational assets from the mechanical and electrical infrastructure in data centers rather than focusing on isolated assets. This holistic view makes Coolgradient the solution of choice for globally leading clients such as Digital Realty.

Data centers were responsible for 2% of global electricity consumption in 2022, which is expected to increase. By 2030, they are expected to use an average of 3.2% of global electricity consumption, with some countries’ estimations being as high as 6% (US) or even 32% (Ireland) by 2026. As their numbers grow, their CO2 emissions and water consumption also continue to rise. However, due to the vast amounts of variables involved in data center operations and the shifting data and energy demands, data center operators currently have limited ability to find the optimal energy and water settings at any given time.

4impact capital now joins Coolgradient as a software-specialized investor to support the experienced team in scaling its business internationally. The team around Jasper de Vries and René Gompel have decades of experience in data-driven optimisations for industrial applications. Through their existing work with large clients, they have built and optimized best-in-class AI models that can work universally.

As the data center market is expected to boom over the next decades, Coolgradient is set to become a vital cog in the global computing space.

Victor Straatman, Partner of 4impact says “The unrivaled expertise of Jasper, Rene, and their team of people in Amsterdam and across the world make them the obvious choice for many of the world’s leading data center operators. The need for and benefit of their product is crystal clear. As they become a key component of operating this critical infrastructure globally, we are proud to play a part in Coolgradient’s journey of reducing 1% of all global energy used for data center cooling while delivering meaningful cost and resource savings to customers.

Jasper de Vries, Co-Founder and CPO of Coolgradient, adds, “We are thrilled to have 4impact join our mission for a more sustainable digital infrastructure. They share our passion, and this investment reflects their commitment to seizing the momentum for our product. This will enable further global expansion and increase the impact we create for our customers.

About Coolgradient 

Coolgradient, founded by Jasper de Vries and René Gompel in 2023, aims to reduce 1% of global energy consumed by cooling data centers. Their innovative solution converts every data center into an intelligent facility, covering all infrastructure from roof-to-room. The platform merges existing data with distinct AI models to simplify and optimize increasingly complex data center operations. With their approach, they have achieved remarkable results, such as up to 40% in energy and water savings, increased reliability and resilience, compliance with sustainability regulations, and improved employee productivity.

Contact: Rene Gompel, rene.gompel@coolgradient.com

About 4Impact 

4impact capital is a prominent early-stage impact investor in European digital startups. 4impact capital supports passionate founders dedicated to advancing sustainability and creating measurable change, aligned with the Sustainable Development Goals (SDGs), particularly in the areas of Planet and People. Currently, 4impact capital is investing from its second fund, which they anticipate to close later this year. 4impact plans to invest in around 25 companies that capitalize on the massive opportunity at the intersection of digitization and sustainability in Europe, focusing on the Benelux, DACH, and Nordics regions.

Contact: connect@4impact.vc

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FSN Capital Compass Fund holds final close, raising more than its €400 million target to invest in purpose-driven companies in Northern Europe

Fsn Capital

FSN Capital has announced the successful closing of the Compass Fund, with total commitments of over €400 million backing a thematic investment strategy.

The Compass Fund is a small-cap fund which invests within future-oriented themes that seek to address society’s key challenges over the coming decade, including Green Transition and Knowledge Economy.

The new strategy is an integrated part of the FSN platform, developed over 25 years and six flagship mid-cap funds. The latest flagship fund, FSN Capital VI, closed in 2021 at €1.8 billion. The Compass Fund leverages the same advisor team and processes, tailoring the investment approach and value creation model for smaller-sized companies. Portfolio companies benefit from the FSN funds’  Executive Advisor network of experienced industrial leaders, as well as the FSN Execution Framework (FEF) and FSN Capital’s* team of 20 operating professionals, specialized in areas including Digital, ESG, and Finance.

The Compass Fund is considered an Article 8+ fund under the EU Sustainable Finance Disclosure Regulation (SFDR). The fund draws on FSN Capital’s industry-leading ESG platform, including established processes for governance, decarbonization, and ESG measurement and reporting. The Compass Fund also introduces new innovations, such as a proprietary impact assessment framework used in the investment screening process, developed with Bridgespan Social Impact.

The Fund is supported by two dedicated partners at FSN Capital, Erik Nelson and Justin Kent. The Compass Fund is approximately 30% invested and will continue to invest primarily in the Nordics and DACH, typically with equity tickets between €20-60 million. To date, the Fund has made four platform investments:

  • – Solcellespesialisten, Norway’s largest supplier and installer of solar energy systems
  • – Firesafe, the market leader in the Nordics for fire safety services
  • – Epista Life Science, an IT Services and consulting firm supporting the Life Sciences industry with digitalization and compliance
  • – Seriline, a Swedish provider of Identity and Access Management (IAM) solutions needed for secure access control

 

Justin Kent, partner at FSN Capital dedicated to the Compass Fund, said: “This is an opportunity to invest in companies that will play an important role as society tackles some of the most pressing challenges we face—unlocking significant commercial opportunities in doing so.”

Erik Nelson, partner at FSN Capital dedicated to the Compass Fund, said: “The Compass Fund has partnered with four businesses to date, led by purpose-driven founders and entrepreneurs. We’ve seen the value that the Compass Fund can bring to these businesses to help them reach full potential, whether it’s to build a platform to scale further, support with M&A, or set science-based targets.”

Robin Muerer and Ulrik Smith, Co-Managing Partners at FSN Capital, said: “The Compass Fund is a natural step for FSN. The small-cap thematic strategy complements FSN’s mid-cap flagship strategy, reopening a highly attractive part of the market where FSN’s repeatable value creation model, ESG leadership, and ethos make us a valued partner for growing businesses.”

Morten Welo, Partner, COO and Head of Investor Relations at FSN Capital, said: “FSN is grateful for the trust and support from leading investors around the world. The Compass Fund leverages the structural capital  built over the last 25 years and marks another step on the FSN funds’ journey as leader in responsible private equity ownership.”

The Compass Fund’s diverse investor base includes leading institutional investors and family offices, including endowments, pensions, insurance companies, and funds of funds in the Americas, Europe, and Asia. More than half of commitments came from North America, with approximately 30% from the Nordics and DACH.

The Compass Fund was advised by Campbell Lutyens as placement agent and Kirkland & Ellis as legal counsel, supported by Carey Olsen.

*FSN Capital Partners acts as investment advisor to the Compass Fund.


 

About FSN Capital

Established in 1999, FSN Capital Partners is a leading Northern European private equity firm and investment advisor to the FSN Capital Funds. FSN Capital has a team of more than 90 professionals across Oslo, Stockholm, Copenhagen, and Munich. Our ethos, “We are decent people making a decent return in a decent way” defines our core values.

The FSN Capital Funds have more than €4 billion under management and make control investments in growth-oriented Northern European companies, to support further growth and to transform companies into more sustainable, competitive, international, and profitable entities.  The FSN Funds are committed to being responsible investors and having a positive environmental and social impact across its portfolio while achieving market-leading returns. The FSN Funds are supported by 14 executive advisors with extensive industry experience.

Learn more about FSN on our website: www.fsncapital.com

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KKR And Marriott International To Launch Midscale Hospitality Segment In Japan With Four Points Express By Sheraton

KKR

Conversion of 14 hotels marks Marriott International’s debut of affordable midscale segment in Asia Pacific

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Marriott International, Inc. (Nasdaq: MAR) today announced the launch of each company’s foray into the midscale hospitality space in Japan, which follows KKR’s completion of the acquisition of Unizo Hotel Company, Limited and a portfolio of 14 hotels in Japan from Unizo Holdings. The 14 hotels will be converted to Four Points Express by Sheraton. This marks Marriott’s entry into the affordable midscale segment in Japan and the brand’s debut in Asia Pacific following its global launch in this space in 2023.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240506764860/en/

The portfolio of 14 hotels is located in major tourist destinations in 10 cities across Japan, including Hakodate, Morioka, Utsunomiya, Yokohama, Kanazawa, Nagoya, Osaka, Kyoto, Kobe, and Hakata. The properties are expected to open in the second half of 2024, adding more than 3,600 new rooms to KKR’s and Marriott’s respective hotel portfolios in Japan.

Four Points Express by Sheraton will offer value-conscious consumers a seamless hotel experience in convenient locations throughout Japan, with principles of reliability, simplicity and value in both the design and guest experience. The brand has been tailored to meet guests’ needs, and the brand standards contemplate an efficient cost model that is intended to provide an effective pricing strategy for franchisees and help drive meaningful growth for Marriott.

Rajeev Menon, President, Marriott International, Asia Pacific excluding China, said, “There’s a growing consumer demand for reliable-yet-affordable accommodation in the region. Our goal is to be everywhere our guests want us to be, with the right property in the right location, at the right price point. This collaboration with KKR will expand our ability to do exactly that – starting in Japan, with opportunity to grow our midscale presence in the region. Our new midscale brand will offer hotel owners an affordable conversion opportunity with an efficient operational design, access to Marriott International’s expansive distribution systems and the backing of our powerful award-winning Marriott Bonvoy travel program.”

Kensuke Kudo, Managing Director, Real Estate, at KKR, said, “International and domestic tourism in Japan has rebounded strongly since the pandemic and continues to pick up pace. As demand for midscale hotels grows rapidly, we see a tremendous opportunity to offer high-quality and comfortable accommodation at great value. We are delighted to be strategic partners with Marriott International, one of the world’s pre-eminent hotel companies, to launch the Four Points Express by Sheraton brand in Japan. By combining KKR’s real estate investment and operational expertise and Marriott’s deep hospitality experience, we look to deliver outstanding-yet-affordable lodging experiences to international and domestic travelers across Japan.”

This new midscale brand is part of Marriott’s award-winning Marriott Bonvoy® loyalty platform, which boasts over 200 million global members. It will leverage Marriott’s world class Global Sales Organization, and strong digital platforms like Marriott.com and the Marriott Bonvoy mobile app, to generate direct bookings.

KKR is making this investment from its Asia Pacific real estate strategy. This transaction marks KKR’s latest real estate investment in Asia Pacific and builds on KKR’s momentum investing in Japan’s real estate sector, including making investments in: an iconic full-service hotel located in Shinjuku; KJR Management (formerly Mitsubishi Corp.-UBS Realty Inc.), a leading Japanese real estate manager that oversees two Japanese REITS; a portfolio of multifamily properties in Tokyo; and office assets across Japan.

Additional details of the transaction have not been disclosed.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Marriott International

Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,900 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

Media

For KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
weijun.ong@kkr.com

For Marriott International
Ching Yee Wong
+65 9386 3082
chingyee.wong@marriott.com

Source: KKR

 

 

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Blackstone and Vista Equity Partners Complete Acquisition of Energy Exemplar

Blackstone

SALT LAKE CITY, Utah, May 9, 2024 – Energy Exemplar, a leading global provider of energy market simulation software, today announced the completion of its acquisition by private equity funds affiliated with Blackstone (”Blackstone”) and Vista Equity Partners (“Vista”).

“Completing our transaction with Blackstone and Vista marks the beginning of an exciting partnership that will accelerate investment in our leading SaaS platform providing accurate simulation and decision support for our customers in today’s rapidly changing energy landscape,” said David Wilson, CEO of Energy Exemplar. “I’d like to thank everyone across the Energy Exemplar organization for their unwavering commitment throughout this process and for maintaining exceptional service to our clients as we continue to grow as one global team.”

“Software is a vital component of the global energy transition, and Energy Exemplar provides critical modeling and analytics solutions to customers across the industry to help them become more efficient, reliable and profitable,” said Ryan Atlas, Managing Director at Vista Equity Partners. “We look forward to partnering with David, Blackstone and the entire Energy Exemplar team during this exciting next phase of growth.”

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, added: “We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”

About Energy Exemplar

Energy Exemplar is a market leader in the technology of optimization-based energy market simulation. Our cloud software suite, headlined by PLEXOS® and Aurora, is used across every region of the world for a wide range of applications, from short-term analysis to long-term planning studies. It is relied upon by hundreds of organizations worldwide to inform multi-million-dollar decisions. Our people continually think of novel approaches and more realistic simulations that enhance decision making, create market opportunities and enable utilities and regulatory authorities to become smarter, more energy efficient and profitable. Energy Exemplar continues to ‘push the envelope,’ being first-to-market with the latest advances in programming and energy market simulations, as it strives to offer the most comprehensive energy analytics platform to its customer base.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $21 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable, and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Vista Equity Partners

Vista is a leading global investment firm with more than $101 billion in assets under management as of September 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.

Media Contacts

For Energy Exemplar
Erin Marks
Erin.marks@energyexemplar.com
(636)-686-8649

For Blackstone
Kate Holderness
Kate.holderness@blackstone.com
(917) 318-6818

For Vista Equity Partners
Brian Steel
media@vistaequitypartners.com
(212) 804-9170

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KKR And Amante Capital Acquire Central London Hotel

KKR

London 08 May 2024 – KKR, a leading global investment firm, and its European hospitality partner Amante Capital, today announced the acquisition of the 132-bedroom Park Grand London Kensington Hotel from Bartek Holdings Limited. Terms of the transaction were not disclosed.

The transaction marks the first acquisition by KKR and Amante Capital since the launch of the vertically integrated hotel platform in 2022, and underscores KKR and Amante Capital’s strategic vision for the European hospitality sector. Amante Capital’s highly experienced team is focused on sourcing and acquiring hotel opportunities across Europe, asset management and operational capabilities.

Mai-Lan de Marcilly, Managing Director and Head of Transactions France and Hotels at KKR, said: “We are delighted to announce our first acquisition with Amante Capital since launching the strategic partnership. The transaction is a testament to the talented team, reaffirming our strong conviction in building a best-in-class operating platform to invest behind strong secular demand for European and UK hospitality and attractive pricing in a dislocated capital market.”

Following the acquisition, the property, located in London’s affluent Royal Borough of Kensington & Chelsea, is intended to undergo an extensive refurbishment to be repositioned as a boutique lifestyle hotel operated by Amante Capital under Marriott International’s Tribute Portfolio brand. The refurbishment is targeted to also enhance environmental credentials, reflecting KKR’s and Amante Capital’s commitment to an increasingly sustainable hospitality real estate industry.

The acquisition was made through KKR’s Real Estate Partners Europe II (“REPE II”), a fund dedicated to value-add and opportunistic real estate investments in Western Europe.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Amante Capital

Founded in 2022, Amante Capital is dedicated to investing in hotel real estate across Europe. With its experienced team specializing in origination, transactions, asset management, capex deployment and operations.

 

Media

KKR

KKR-Lon@FGSGlobal.com

Amante Capital

Info@amantecapital.com

 

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CapMan Special Situations invests in TerraWise

Capman

CapMan Special Situations press release
6 May 2024 at 09:15 a.m. EEST

CapMan Special Situations invests in TerraWise

CapMan Special Situations invests in infrastructure construction company TerraWise. The objective is to further strengthen TerraWise’s position as a leading player in the green and urban landscaping and infrastructure construction space.

TerraWise is one of the leading infrastructure construction companies operating in the Uusimaa and Pirkanmaa regions. The company’s operations are based on three cornerstone capabilities: landscaping and urban construction, land and infrastructure construction and excavation. In addition, the company has growth substrate sales operation in Tampere. TerraWise employs close to 160 dedicated professionals.

CapMan Special Situations becomes the majority owner in TerraWise while the company’s key personnel remain significant minority owners. Tuomas Saarinen will continue as the company’s CEO.

”During the past year and a half, we have managed to turn the business back to profitability. During the first half of 2024, we have significantly built up our order book and profitability has continued to increase substantially. With CapMan’s investment, we are able to strengthen our financial position which is excellent news for our key stakeholders and for the company as a whole. This will also support our profitable growth and improve the company’s competitive position”, says Tuomas Saarinen, CEO of TerraWise.

”TerraWise is a frontrunner in the green urban construction space. The TerraWise team has done outstanding work in developing the business and we will continue to support this development together with the team”, comments Ari Kyöstilä, Senior Investment Manager at CapMan Special Situations.

The completion of this transaction is subject to approval by the Finnish Competition and Consumer Authority.

More information:

Ari Kyöstilä, Senior Investment Manager, CapMan Special Situations, +358 50 337 2002

Tuomas Saarinen, CEO, TerraWise, +358 41 431 7583

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 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. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About TerraWise

TerraWise is one of the leading infrastructure construction companies operating in the Uusimaa and Pirkanmaa regions. The company’s operations are based on three cornerstone capabilities: landscaping and urban construction, land and infrastructure construction and excavation. In addition, the company has growth substrate sales operation in Tampere. TerraWise employs close to 160 dedicated professionals.

Our clients primarily consist of cities and municipalities, housing cooperatives and construction companies, and we also perform demanding projects for private clients. We act as a trusted expert in projects, from design to execution, with sustainability and our clients in focus. www.terrawise.fi


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HASI And KKR Establish $2 Billion Strategic Partnership To Invest In Sustainable Infrastructure Projects

KKR

ANNAPOLIS, Md. & NEW YORK–(BUSINESS WIRE)–Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“HASI,” “we,” “our” or the “Company”) (NYSE: HASI), a leading investor in climate solutions, and KKR, a leading global investment firm, today announced an agreement to establish CarbonCount Holdings 1 LLC (“CCH1”) to invest up to a combined $2 billion in climate positive projects across the United States.

Per the agreement, signed May 4, 2024, HASI and KKR have each made an initial capital commitment of up to $1 billion to CCH1, to invest up to an aggregate of $2 billion in clean energy assets over the next 18 months. HASI will source the investments for and manage CCH1, remain the interface with its clients, and measure the avoided emissions of all investments in CCH1 using its proprietary CarbonCount® scoring tool. These investments will be consistent with HASI’s existing investment strategy which is focused on behind-the-meter, grid-connected, renewable natural gas and transport projects.

At close, CCH1 will be seeded with assets representing approximately 10% of the up to $2 billion total committed amounts.

“Our strategic partnership with KKR perfectly aligns with our Climate Clients Assets strategy, enabling us to capitalize on our ambitious pipeline of opportunities and scale our business,” said Jeffrey A. Lipson, President and Chief Executive Officer of HASI. “We are excited to collaborate with the KKR team, who share our commitment to accelerating the energy transition and whose interest in the relationship serves as a testament to HASI’s history of success.”

“CCH1 represents a significant milestone in our objective to migrate to a more capital light model and reduce reliance on public equity markets for growth,” said Marc Pangburn, Chief Financial Officer of HASI. “This transaction further increases the resilient, non-cyclical nature of our business.”

“HASI has built an impressive portfolio of sustainable infrastructure projects through strategic partnerships and we believe their pipeline of future opportunities is highly complementary to KKR’s existing clean energy investing strategy,” said Cecilio Velasco, Managing Director on KKR’s Infrastructure team. “We look forward to working together to advance projects in the sustainable infrastructure space and accelerate the energy transition.”

With over 15 years of experience in infrastructure investing, KKR has invested more than $15 billion in renewable energy and climate-related investments from its infrastructure platform alone. According to BloombergNEF, KKR is the 10th largest owner of solar assets operating and under construction in the U.S. KKR is funding the investment from its core infrastructure strategy.

Morgan Stanley & Co. LLC acted as the financial advisor for KKR, and Lazard acted as financial advisor for HASI.

CarbonCount: Measuring the Climate Impact of Every Investment

HASI only invests in assets that are neutral to negative on incremental carbon emissions or have some other tangible environmental benefit, such as reducing water consumption. Since 2013, HASI has tracked and reported on the impact of all its investments utilizing CarbonCount, a proprietary scoring tool for evaluating real assets to determine the efficiency by which each dollar of invested capital avoids annual carbon dioxide equivalent emissions (CO2e). This first-of-its-kind methodology promotes transparency in project finance by creating a simple and comparable metric for infrastructure projects to be evaluated in terms of how much capital investment is mitigating climate change.

About HASI

HASI (NYSE: HASI) is a leading climate positive investment firm that actively partners with clients to deploy real assets that facilitate the energy transition. With more than $12 billion in managed assets, our vision is that every investment improves our climate future. For more information, please visit hasi.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Forward-Looking Statements

Some of the information contained in this press release is forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are subject to risks and uncertainties. For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may” or similar expressions, we intend to identify forward-looking statements.

Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in our most recent Annual Report on Form 10-K as well as in other periodic reports that we file with the U.S. Securities and Exchange Commission

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

Contacts

For HASI
Conor Fryer
media@hasi.com
443-321-5754

Neha Gaddam
investors@hasi.com
410-571-6189

For KKR
Liidia Liuksila or Emily Cummings
media@kkr.com
(212) 750-8300

 

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Blackstone appoints Philip Sherrill as Global Head of Insurance

Blackstone

NEW YORK – May 7, 2024 – Blackstone (NYSE:BX) today announced the appointment of Philip Sherrill as Global Head of Insurance. In his new role, Mr. Sherrill will focus on growing the firm’s insurance platform globally, working closely with Gilles Dellaert, Global Head of Blackstone Credit & Insurance.

Blackstone’s insurance platform has tripled in size since 2020, recently surpassing $200 billion in assets under management. The platform leverages the firm’s scale and breadth to serve Blackstone’s insurance clients, to drive stronger long-term performance, and, ultimately to meet the needs of more policyholders.

Gilles Dellaert, Global Head of Blackstone Credit & Insurance, said: “We are very pleased to welcome Phil to Blackstone as Global Head of Insurance. Our credit and insurance business is experiencing enormous growth momentum, and we see a significant opportunity set ahead of us. Phil’s experience and expertise will be instrumental in taking our platform’s growth to the next level.”

Philip Sherrill said: “Blackstone has an unparalleled platform and an exceptional record of client service, putting it in a unique position to deliver value to insurance companies. I am privileged to become a part of this team and I look forward to joining Blackstone.”

Mr. Sherrill was previously Chief Strategy Officer at Global Atlantic Financial Group, where, for more than a decade, he led corporate strategy, mergers and acquisitions, capital raising, and other strategic initiatives across business lines, serving on the firm’s Management Committee, Investment Committee, Operating Committee, Risk Committee, and Capital Committee, among other leadership roles. Mr. Sherrill worked at Goldman Sachs prior to Global Atlantic’s separation from Goldman, and holds an A.B. in Social Studies from Harvard College.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Contact
Felix Lettau
+44 (0) 7587 020 020
Felix.Lettau@Blackstone.com

Categories: People

KKR To Acquire Healthium From Apax Funds

KKR

MUMBAI, India–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Healthium Medtech Ltd. (“Healthium”), a leading Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm. The acquisition will be made by a special purpose vehicle owned by KKR-managed funds which will acquire a controlling interest in Healthium group, including Healthium.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240505117673/en/

Founded in India in 1992, Healthium is a medical devices company that develops, manufactures and sells a broad range of surgical products globally. Its comprehensive, high-quality portfolio caters to a wide spectrum of surgeons’ needs, offering wound closure, arthroscopy, and advanced wound closure products.

The Apax Funds acquired Healthium in 2018 and transformed the company from a domestic suture player into a global medical devices leader. With the support of the Apax Funds, the company bolstered its management team to add deep industry experience with the appointment of Anish Bafna as CEO and Vishal Maheshwari as CFO, positioning Healthium for growth. Healthium strengthened its existing portfolio of wound closure devices and consumables and invested in new franchises such as arthroscopy and advanced wound care through in-house R&D and M&A. During this period, Healthium expanded its presence from 50 countries to more than 90 today.

Akshay Tanna, Partner and Head of India Private Equity at KKR, said: “Under the leadership of Anish and his talented management team, Healthium has established itself as a leading homegrown producer of medical devices with a strong track record of delivering quality products and a wide distribution network both in India and globally. We look forward to leveraging our global network and healthcare expertise to accelerate its growth in this fast-growing sector and further scale its global business through organic and inorganic growth strategies.”

Steven Dyson, Partner at Apax, commented: “Thanks to our long experience partnering with medical devices companies, we saw the opportunity to leverage Healthium’s strong existing portfolio to create a global diversified MedTech platform. We are proud to have supported Healthium on its growth journey to become the leading medical technology player in India through investments in innovation, manufacturing capacity, and portfolio expansion. We would like to thank Anish, Vishal and the team, and wish them every success for the future.”

Anish Bafna, Chief Executive Officer of Healthium, said: “Over the last five years, with the support and partnership of Apax, Healthium has tremendously accelerated its growth. Our products are now used in one-in-five surgeries globally and we have nearly doubled the markets we’re present in. On behalf of the whole management team, I would like to thank the Apax team for their expertise, hard work, and dedication. As we look to further strengthen and expand our market position, we are delighted to welcome an investor of KKR’s calibre, who brings deep global healthcare expertise and knowledge of the Indian market. We look forward to our next phase of growth with their support, being able to leverage their global platform, as well as strong investment and operational expertise.”

KKR makes its investment from its Asian Fund IV. Healthium marks KKR’s latest investment in the healthcare sector in India and Asia Pacific, which includes but is not limited to, JB, a leading branded formulations pharmaceutical company in India; Max Healthcare, one of India’s largest hospital networks; Gland Pharma, a leading Indian pure-play generic injectable pharmaceutical products company; PHC, a leading provider of medical equipment and clinical healthcare IT systems in Japan; Bushu Pharma, a leading pure-play contract development and manufacturing company in Japan; and Metro Pacific Hospitals, the largest private hospital chain in the Philippines.

The transaction is subject to receipt of certain regulatory approvals and is expected to close in the third quarter of 2024. Financial details were not disclosed.

Apax Partners and Healthium were advised by Jefferies LLC as financial advisor and Kirkland & Ellis LLP as legal counsel. KKR was advised by Moelis & Company as financial advisor and Simpson Thacher & Bartlett and AZB & Partners as legal counsel.

About Healthium

Healthium is a global medical devices company focused on products used in surgical, post-surgical and chronic care. Fuelled by its vision to provide “Access to precision medtech for every patient, globally,” it is present across 90 countries. 1 in 5 surgeries conducted globally uses a Healthium product.

www.healthiummedtech.com

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $77 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For further information, please visit www.apax.com.

Media Inquiries
For KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For Apax
Kat Sallerfors
+44 20 7872 6300
Katarina.sallerfors@apax.com

Source: KKR

 

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