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Innovation Industries Raises €500 Million For Investments In Deeptech

Innovation Industries

Fund oversubscribed, with the majority of financing coming from Dutch pension funds

Amsterdam, May 15, 2024 – Dutch venture capital fund Innovation Industries has raised €500 million for its third fund, which focuses on financing deeptech companies in the Benelux and Germany. Earlier this year, Innovation Industries also raised €100 million for another fund, the Strategic Partners Fund, which invests in scale-ups from the existing portfolio. This brings the total raised capital for this year to €600 million.

Deeptech companies develop groundbreaking technologies and bring them to market. These types of companies have the potential to offer innovative solutions to global challenges such as climate change, security, aging populations, food shortages, and energy supply. Due to the complexity and advanced nature of their products, deeptech companies have higher capital requirements and longer development times compared to more conventional enterprises.

Investors in the fund

Investors in the third fund include PME and PMT. These pension funds have also invested in Innovation Industries’ earlier funds. The fund also includes pension funds ABP, bpfBOUW, Pensioenfonds KPN, and TNO Pensioenfonds. Additionally, investors in the fund include ABN AMRO, Athora Netherlands, Rabobank, Oost NL, Brabantse Ontwikkelingsmaatschappij, Invest-NL, InnovationQuarter, European Investment Fund (EIF), KfW Capital, and Wachstumsfonds.

“Investing in deeptech is very attractive from various perspectives. Nevertheless, deeptech companies still face significant challenges in raising capital,” says Nard Sintenie, partner at Innovation Industries. “With our third fund, combined with the Strategic Partners Fund, we are taking an important step in addressing this issue for Dutch deeptech companies.”

Harm de Vries, partner at Innovation Industries, stated, “We are very pleased that in addition to pension funds PME and PMT, other pension funds are now also participating in our fund. We share a long-term vision with these pension funds, combining good financial returns with a contribution to the future resilience of the Dutch deeptech ecosystem. With currently around €900 million in capital under management, we will serve as a magnet for groundbreaking technologies in Europe.”

“Our team currently operates from offices in Amsterdam and Eindhoven. Soon, we will add an office in Munich,” explains Chris Sonnenberg, partner and co-founder of Innovation Industries. “With a solid European presence, we can identify the best technology companies and thereby strengthen the competitive position of the Netherlands,” he adds.


About Innovation Industries

Innovation Industries has been active since 2017 and has investments in more than 30 deeptech companies. An example is Nearfield Instruments, a spin-off of TNO that develops advanced measuring machines for the semiconductor industry. Companies in the portfolio have also been sold, such as Luxexcel, which was acquired by Meta (the company behind Facebook) in 2021. Luxexcel manufactures 3D-printed lenses for digital glasses.

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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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Sands Capital’s Pulse Fund III Secures $555M Close

Sands Capital

The Life Sciences Pulse strategy partners with private companies helping transform how diseases are defined, diagnosed, and treated.

Sands Capital is pleased to announce the close of our third life sciences fund, Sands Capital Life Sciences Pulse Fund III (“Pulse III”), raising $555 million. Pulse III was met with high demand from both existing and new limited partners. This close increases total Pulse strategy capital commitments to $1.3 billion, including Sands Capital Life Sciences Pulse Fund (“Pulse I”) and Sands Capital Life Sciences Pulse Fund II (“Pulse II”). The team will continue investing with the same emphasis on private therapeutics, diagnostics, medical devices, and life sciences tools businesses, in support of the strategy’s mission to help transform how diseases are defined, diagnosed, and treated.

“The life sciences sector continues to innovate at a rapid pace, leading to breakthroughs that benefit both patients and society as a whole.”

“The life sciences sector continues to innovate at a rapid pace, leading to breakthroughs that benefit both patients and society as a whole,” said Stephen Zachary, Managing Partner. “We are grateful to both the investors joining us in Pulse III and the talented management teams we’ve partnered with since the strategy’s inception.”

The Pulse investment team comprises senior professionals led by founders, operators, PhDs, and experienced investors with the ability to leverage the resources and capabilities of the entire firm to execute its strategy. The team also draws upon Sands Capital’s more than three decades of deep research and experience investing in innovation in public markets.

Disclosures:

As of October 1, 2021, Sands Capital was redefined to be the combination of Sands Capital Management, LLC and Sands Capital Ventures. Both firms are registered investment advisers with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940. The two registered investment advisers are combined to be one firm and are doing business as Sands Capital. Sands Capital operates as a distinct business organization, retains discretion over the assets between the two registered investment advisers, and has autonomy over the total investment decision-making process.

This communication is for informational purposes only and does not constitute an offer, invitation, or recommendation to buy, sell, subscribe for, or issue any securities. The material is based on information that we consider correct, and any estimates, opinions, conclusions, or recommendations contained in this communication are reasonably held or made at the time of compilation. However, no warranty is made as to the accuracy or reliability of any estimates, opinions, conclusions, or recommendations. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person.

The activities of the Life Sciences Pulse Team, including investment due diligence and sourcing, may be supported on an ad hoc basis by various members of the broader global research team of Sands Capital Management. Please refer to the biographies of the Life Sciences Pulse Strategy Team members. Members of the Life Sciences Pulse team also provide services with respect to other strategies of Sands Capital.

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Ratos Company Aibel and Hitachi Energy sign framework agreement with RWE to accelerate offshore wind integration

Ratos

Aibel and Hitachi Energy have signed separate framework agreements with the German company RWE for multiple high-voltage direct current (HVDC) systems to accelerate the integration of offshore wind power into grid. The agreement follows the signing of a Capacity Reservation Agreement (CRA) last November that reserves the engineering and production capacity to develop three major HVDC projects. The projects will allow electricity transmission from offshore wind farms to onshore connection points.

 

Under the global framework agreements, RWE has contracted Aibel and Hitachi Energy in a split contract model. The framework agreement stipulates how the three projects, and potentially additional projects in the future, will be handled. It allows Aibel and Hitachi Energy to manage resources such as securing supply chain, hiring workforce, allocating engineering and manufacturing capacity, and ordering materials ahead of time.

“The success story in Aibel continues at a high and steady pace. It is very pleasing that this contract now is in place. It gives both the opportunity to invest even more in the future and to do so in a sustainable way. The importance of Aibel and its partners in the transition towards a more energy efficient and sustainable future is significant – in this project part of the scale and speed needed to be even more successful are secured,” says Christian Johansson Gebauer, board member of Aibel and President, Business Area Construction & Services, Ratos.

“The agreement with RWE confirms that we have a competitive concept developed in collaboration with Hitachi Energy, and a reliable common delivery model with a balanced risk-reward profile. The capacity reservation provides predictability and further strengthens our position as a leading supplier to the offshore wind market,” says Mads Andersen, President and CEO of Aibel.

Securing the capacity early and the signing of CRA demonstrates RWE’s intent to accelerate the pace at which offshore energy can be integrated to the grids. The new framework agreement has the potential to deliver other possible projects worldwide.

The three projects are the latest of several jointly undertaken by Aibel and Hitachi Energy since the two companies announced their strategic partnership in 2016. Key offshore wind projects won by the two companies include converter stations for Dogger Bank A, B, and C and Hornsea 3 Link 1 and Link 2 in the UK, as well as Dolwin 5 in Germany.

About Aibel
Aibel builds and maintains critical infrastructure for the energy sector and is one of the largest supplier companies in Norway. In the last five years, the company has provided products and services worth NOK 50 billion to the Norwegian Continental Shelf and is also the largest supplier of solutions within the area of electrification of offshore installations and onshore facilities. Currently, Aibel has five deliveries to offshore wind parks in Germany and the UK sector with a total contract value of more than NOK 15 billion and is the largest Norwegian supplier of infrastructure for the offshore wind industry. More than 4,950 employees work at the company’s offices in Norway, Thailand and Singapore and the company owns modern offshore yards in Haugesund, Norway, and Laem Chabang and Map Ta Phut, Thailand, with significant prefabrication and construction capacity. The Ratos holding in Aibel is 32%.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 34 billion in net sales (LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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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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QIA announces intent to anchor an investment commitment to Ardian Semiconductor

Ardian

This investment with a preeminent French fund reflects QIA’s commitment and faith in the value of the semiconductor industry
• This investment commitment also demonstrates QIA’s belief in the pervasiveness of semiconductors in the world economy

Qatar Investment Authority (QIA) has announced today its intent to anchor an investment commitment in Ardian Semiconductor, reflecting QIA’s commitment to a world-leading private investment house with a first-of-its-kind thematic fund, aiming to enhance the semiconductor industry in France and Europe. This investment demonstrates QIA’s position as the financial partner of choice in key technology sub-sectors, including semiconductor & semiconductor supply chain.

As a long-term, disciplined investor in technology, this intent to anchor this investment commitment also aligns with QIA’s efforts to work with diverse businesses at the forefront of innovation.

This investment commitment is rooted in a shared goal of advancing innovations in the semiconductor industry, driving the adoption and commercialization of semiconductor-related innovations globally.

This intent to anchor an investment commitment to Ardian Semiconductor demonstrates QIA’s belief in the pervasiveness of semiconductors in the world economy, and their impact on digital and green transformations across key sectors such as artificial intelligence, mobility or consumer technology.

Semiconductor & Semiconductor Supply Chain remain an important investment area for QIA across all regions. Other notable recent investments by QIA in this value chain include Kokusai Electric Corporation, a leading semiconductor manufacturing company with world-class technology, playing a key role in the evolution of semiconductor devices. In June 2023, QIA announced it took a minority stake in Kokusai Electric Corporation.

ABOUT QIA

Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

qia.qa

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

PRESS CONTACTS

QATAR INVESTMENT AUTHORITY

media@qia.qa 

ARDIAN

KEKST CNC

ardian-GCC@kekstcnc.com 

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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

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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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