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Anders Invest Food & Agri Fund participates in Poultry Company Hillco B.V.

Anders Invest

nders Invest Food & Agri Fund has acquired a majority stake in Hillco Poultry Company B.V. The company produces and sells chicken products for the Dutch, Belgian, and German foodservice markets. Together with the new management team – Jaap Randewijk and Dinand Heijkamp – as well as the existing Hillco team, the focus will be on further growing the business in existing and new markets.

Hillco Poultry Company B.V. is a Dutch family-owned business that has specialized in processing responsible chicken products for over 40 years. Under the brand Family Chicken, Hillco offers a thoughtfully curated range of chicken products aimed at the foodservice sector. Particularly, restaurants, fast-food chains, caterers, and gas stations are among the key target groups. With a strong focus on taste, quality, stability, and clear pricing policies, Family Chicken has secured a strong position in the Dutch foodservice industry. Additionally, Hillco aims to significantly expand its own brand “Smikkelkip” in the coming years.

The company has been transferred from the Van den Brink family to Anders Invest, Dinand Heijkamp, and Jaap Randewijk. The reason for this is that the Van den Brink family sees ample growth opportunities for Hillco and is seeking a suitable new owner to realize these growth opportunities. Therefore, it has been agreed that Dinand Heijkamp and Jaap Randewijk will lead the management and, together with Anders Invest, implement the growth strategy. After a transition period, the Van den Brink family will focus on other activities.

Evert Hein Schuiteman, partner at Anders Invest, is pleased with the arrival of Hillco: “They are a major player in the market with a substantial turnover and solid margins. I am impressed by the high-quality products and the team’s expertise in product development and sales. The market is also interesting; although meat consumption per capita is slightly declining, we see growth in the consumption of high-quality chicken snacks, especially in the foodservice channel. This inspires confidence, and we anticipate a wide range of opportunities for Hillco’s positioning and strategy.”

Ap van den Brink, one of the sellers, says, “We are glad that we could transfer it this way. The enthusiasm and energy of Jaap, Dinand, and the whole team, together with the ambitions and professional support of Anders, provide confidence for the future. Additionally, it is our desire that the Biblical truth of Psalm 127:1 will not be forgotten in the future. Unless the Lord builds the house, the builders labor in vain. Unless the Lord watches over the city, the guards stand watch in vain.”

For more information:

Anders Invest: http://www.andersinvest.nl/

Evert Hein Schuiteman (Partner Anders Invest food & agri fund) – +31 6 55 766 513 / Evert Hein Schuiteman ehschuiteman@andersinvest.nl

Jurjen van der Werf (Investment Manager Anders Invest) – +31 6 23 80 27 83 / jvanderwerf@andersinvest.nl

Hillco Poultry Company: www.hillcopoeliersbedrijf.nl

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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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Silver Lake Closes $20.5 Billion Fundraise for SLP VII

Silverlake

Underscores Continuing Global Leadership in Large Scale Technology Investing as AI Era Accelerates

MENLO PARK, Calif. & NEW YORK – May 8, 2024 – Silver Lake, the global leader in technology investing, today announced a final close on Silver Lake Partners VII at $20.5 billion in capital commitments, topping its prior flagship fund.

In aggregate over the past five years, Silver Lake has raised $47 billion behind the firm’s singular mission of creating value by partnering with exceptional founders and management teams to build and grow great companies driven by technology at scale.

“We are deeply grateful to each of our investors, new and returning, for the confidence they place in Silver Lake,” said Co-Chief Executive Officers Egon Durban and Greg Mondre on behalf of the firm’s Managing Partners. “We are similarly appreciative of the truly special management teams we are so fortunate work with – the world’s best – with whom we have cultivated successful and winning relationships based on deep engagement and trust through multiple cycles of technology investing at scale.”

“As the promises and risks of the AI era accelerate, our talented team, strong industry network, and ability to commit substantial strategic and operational resources means our horizon of opportunity to make highly select, impactful investments with the potential to generate exceptional performance has never been more compelling,” Mondre and Durban concluded. “We look forward to many more years of collaboration, partnership and sustained value creation together.”

Over the past 15 years, Silver Lake’s flagship funds have in aggregate generated a 21% rate of return, net of fees.

Since the beginning of 2023, distributions to Silver Lake’s investors – including anticipated proceeds based on portfolio company transaction agreements signed to date – will total approximately $20 billion, anchored by the record-setting sale of Silver Lake portfolio company VMware to Broadcom.

On the investment side over the past year, Silver Lake successfully completed a public tender offer to acquire Software AG for approximately $2.6 billion and led three other transformational transactions: the take private of Qualtrics in an all cash transaction valued at approximately $12.5 billion, a $6.4 billion equity re-investment with DigitalBridge in Vantage Data Centers across North America and EMEA, and an agreement to take Endeavor private at an equity value of $13 billion and a consolidated enterprise value of $25 billion.

Silver Lake also recently announced that Christian Lucas, a Managing Director and co-head of the firm’s activities in Europe, has been named a Managing Partner.  Jim Whitehurst, who had previously served as a Senior Advisor to Silver Lake before being named Interim CEO at Unity, has returned to Silver Lake as a Managing Director who will lead operating and investment team initiatives.

Silver Lake invests across the wide spectrum of the global technology sector and in technology-enabled businesses in verticals including sports and live events, media and entertainment, e-commerce, financial services, and health care. Silver Lake’s portfolio of companies represent more than $1 trillion of cumulative enterprise value.

Investors in Silver Lake Partners VII include public and corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations, funds of funds, family offices, technology industry leaders and individual investors across the Americas, Asia-Pacific, and EMEA.

About Silver Lake

Silver Lake is a global technology investment firm, with approximately $102 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $258 billion of revenue annually and employ approximately 517,000 people globally.

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Stirling Square, TA Associates, and Macquarie Capital Complete Acquisition of Byggfakta

Stirling Square

Stockholm, 8 May 2024 – A consortium consisting of Stirling Square, TA Associates (“TA”), and Macquarie Capital has completed the acquisition of Byggfakta, a leading information and software provider within the construction industry. The acquisition follows a public offer to the shareholders of Byggfakta, unanimously recommended by the Independent Bid Committee of Byggfakta’s Board of Directors.

Byggfakta is a leading provider of data, insights, and software solutions for the global construction industry, serving over 50,000 customers. The company, headquartered in Ljusdal, Sweden, was founded in 1936 and has more than 2,000 employees spanning more than 20 countries. Byggfakta’s core operations encompass five areas: Project Information, Specification, Market Intelligence, Product Information, and E-tendering.

Stirling Square has been the largest shareholder in Byggfakta since 2017, with its relationship to senior management dating back to 2014. TA acquired a significant minority stake in Byggfakta in September 2020, joining Stirling Square. Since their initial investments, Stirling Square and TA have enabled value creation by supporting Byggfakta’s efforts to improve its commercial and operational capabilities, and in executing on its acquisition strategy to broaden the company’s service offering and expand internationally. Stirling Square and TA have now formed a partnership with Macquarie Capital, to support Byggfakta’s future journey.

Stirling Square, TA, and Macquarie Capital see great opportunities for Byggfakta to become a global champion within the construction technology industry with a central role in the ongoing development of the sector. By facilitating operational and financial resources and leveraging the consortium’s combined track record from similar growth stories, Byggfakta will be positioned to accelerate delivery of continued organic growth and strategic M&A.

Ben Hopper, Managing Director, Stirling Square,commented:

“The return to a private markets environment is an important moment for Byggfakta as we continue supporting the company to achieve its ambition to become a global leader in data and software solutions for the construction industry. We believe this transition from the public markets will enable the company to accelerate its long-term growth potential through further international M&A supported by long-term shareholders providing additional capital and deep domain expertise. We are delighted to be working alongside Dario and the talented team at Byggfakta together with our longstanding partner TA and to welcome an investor we have long admired in Macquarie Capital.”

Naveen Wadhera, Managing Director, TA, comments:

“Since partnering with Byggfakta in 2020, we have witnessed significant progress and are optimistic about the substantial opportunities that lie ahead with the acceleration of the company’s M&A strategy. We look forward to working with the Byggfakta team, Stirling Square and Macquarie in the execution of our new joint strategy.”

Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, comments:

“We have been following the development of Byggfakta for some time and are impressed with its achievements to date that have positioned the company as a leader within the construction software and data industry. We are looking forward to joining forces with Stirling Square and TA in supporting Byggfakta’s continued growth journey.”

Dario Aganovic, CEO, Byggfakta:

“Over the years, Byggfakta has successfully established unique database content, market leading software, and strong customer engagement. Looking ahead, we have a clear strategy to become an even stronger global player and a world-leading company in our industry. I am excited to deepen our partnership with Stirling Square and TA and to join forces with Macquarie Capital in the years to come,enabling an acceleration of our strategy.”

On 6 May 2024, the offer was closed with Stirling Square, TA, and Macquarie Capital, through Giant BidCo, controlling 99.8 per cent of the shares in Byggfakta.

About Byggfakta

Byggfakta Group is a global data and software company with roots stretching back to 1936, more than 2,000 employees and operations in 26 countries. The Company offers services that connect the construction sector, thereby increasing total growth and promoting better construction. Its unique data, insights and software solutions help customers to maximise sales, increase efficiency and build more sustainably. The core operations encompass five areas: Project Information, Specification, Market Intelligence, Product Information, and E-tendering. Byggfakta mainly generates subscription revenue, which currently exceeds SEK 2 billion annually. Byggfakta’s goal is to grow organically by 10% per year and to grow an additional 5–15 percent per year through acquisitions. Byggfakta Group has been listed on Nasdaq Stockholm since 2021.

About Stirling Square

Stirling Square is a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 8, rue Lou Hemmer, L-1748 Senningerberg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B 259546.

Stirling Square is a leading pan-European mid-market private equity firm based in London. Stirling Square has extensive experience investing in the Nordics. Its current portfolio includes Infobric, Assist24, Logent and SAR. Founded in 2002, Stirling Square is a partner to leading European mid-market businesses, with over 20-year track record of investing with conviction in market-leading platforms in the EUR 100 million to EUR 500 million enterprise value range. Since inception, Stirling Square has invested in 30+ platform companies and 100+ add-on acquisitions globally, helping to create regional and global champions. The firm has raised four funds and manages over EUR 3 billion on behalf of a global and diverse investor base. The investment team consists of more than 20 investment professionals, who have in aggregate committed 16 per cent of the total capital of the fourth fund ensuring full alignment with the success of its portfolio companies and their management teams. Stirling Square has been the largest shareholder in Byggfakta since 2017, with its relationship to senior management dating back to 2014.

About TA Associates

TA is a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B 259878.

TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries—technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. TA acquired a significant minority stake in Byggfakta in September 2020, alongside existing investor Stirling Square.

About Macquarie Capital

Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, defense and government services, consumer, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, services, software, technology, telecommunications and media sectors.

Macquarie Capital Principal Finance, the financing and principal investing arm of Macquarie Capital makes investments from Macquarie’s balance sheet, provides flexible primary financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe and Australasia.

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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

HTL Biotechnology acquires beauty & biomedical division of Modern Meadow

Montagu
HTL BIOTECHNOLOGY STRENGTHENS ITS POSITION AS A GLOBAL LEADER IN THE PRODUCTION AND DEVELOPMENT OF PHARMACEUTICAL-GRADE BIOPOLYMERS

HTL Biotechnology strengthens its position as a global leader in the production and development of pharmaceutical-grade biopolymers by acquiring the beauty and biomedical division of American company Modern Meadow (Nutley, NJ). Notably, this acquisition includes Modern Meadow’s platform of recombinant proteins, with the most advanced product being human recombinant collagen type III (rhCOL3).

With this platform, within a world-class scientific research centre, the company also integrates a team recognised for its cutting-edge expertise in the field.

HTL Biotechnology makes a notable entry into recombinant human collagen for cosmetic and medical uses, addressing not only identified Vegan ethical commitments needs but also unique and differentiating properties.

The rhCOL3, developed in the United States and produced in Europe, has already raised the interest of numerous players in the cosmetic and aesthetic industry. In a nascent market with high demand set to surpass the billion-dollar mark soon, this recombinant human collagen holds significant promise.

HTL Biotechnology’s ambition, through this acquisition, is to drive innovation in the company’s historical segments, including aesthetic medicine, rheumatology, and ophthalmology, as well as explore new therapeutic areas. The synergy between HTL Biotechnology’s high-quality GMP biofermentation expertise and this new platform of recombinant proteins will enable the development of disruptive innovations, leveraging a combination of biopolymers and accelerating the company’s innovative capabilities.

HTL Biotechnology will now offer a broad and distinctive range of products through its platform, including pharmaceutical-grade hyaluronic acid, polynucleotides, and products in development such as heparosan or botulinum toxin as a neuromodulator. Additionally, with this acquisition, HTL Biotechnology gains a platform for human recombinant collagens.

The company is also strengthening its presence on the North American continent with, on one hand, the teams from HTL Biotechnology Manufacturing Inc. (HTL BMI) based in the state of Massachusetts, and on the other hand, the arrival of this new organisation based in Nutley (NJ).

François Fournier, CEO of HTL Biotechnology, states: “I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together. HTL Biotechnology thus becomes a pioneer in the market for human recombinant collagen, where the company was a pioneer 30 years ago in the bioproduction of hyaluronic acid. The depth of our biopolymer portfolio is unique, and it is with great pride that we will be able to serve our clients even better.  I am delighted to welcome, on behalf of HTL Biotechnology, the beauty and biomedical teams from Modern Meadow.”

I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together.

François Fournier, CEO, HTL Biotechnology

“This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio. It reinforces its leadership position in biopolymers by offering a broad and innovative range” comments Paul Navarre, Chairman of HTL Biotechnology.

This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio.

Paul Navarre, Chairman, HTL Biotechnology

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