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Apollo Names Chris McIntyre Global Head of the Institutional Client Group

Apollo logo

NEW YORK, March 08, 2024 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) today announced the appointment of Chris McIntyre as Partner, Global Head of the Institutional Client Group and member of the firm’s Leadership Team, effective April 15, 2024. Based in New York, he will be responsible for managing the firm’s institutional distribution channel. McIntyre joins a talented team that delivered robust third-party inflows of approximately $45 billion in 2023.

Apollo Co-Presidents Scott Kleinman and Jim Zelter said, “Institutions around the globe have long formed the bedrock of our leading alternative asset management and retirement services businesses. Chris’ deep relationships and private markets expertise will be highly accretive as we continue to offer diversified, tailored investment solutions to our most valued partners. We are excited to welcome Chris to our team.”

McIntyre said, “Apollo is distinguished by its highly sophisticated, aligned, and active approach to partnering with investors and strong track record of innovation across strategies. I look forward to working closely with leaders across the business as we seek to continue delivering excess returns for our clients while also evolving to meet their changing needs.”

McIntyre previously served as Partner and Managing Director at Boston Consulting Group (BCG) where he led the firm’s Asset Management business in North America advising senior leaders from global alternative and traditional asset managers. McIntyre earned his BA from Yale University and MBA from Columbia Business School.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2023, Apollo had approximately $651 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

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

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

 


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Source: Apollo Global Management, Inc.

Released March 8, 2024

Categories: People

Nordic Capital-backed Signicat among Financial Times list of Europe’s 1000 fastest growing companies in 2024 and for the third time

Nordic Capital

Nordic Capital’s portfolio company, Signicat, a leading provider of verified digital identity solutions, primarily focused on the regulated financial services industry, has once again been included on Financial Times’ list of the 1000 fastest-growing companies in Europe. This is the third time the company has been included on the list since 2021.

Since Nordic Capital’s initial investment in 2019, Signicat has emerged as a leading provider and technology front-runner in European verified digital identity solutions. Over the past years, the company has expanded its European footprint through six strategic acquisitions to strengthen its technology, customer base, and market expertise. The company has also committed to innovation and is dedicated to digital identity solutions across the entire digital lifecycle.

Kristoffer Melinder, Managing Partner at Nordic Capital Advisors, comments:

“We are delighted to see Signicat recognised on this prestigious list for the third time. This acknowledgement underscores Signicat’s continuous growth and strong leadership. Furthermore, it demonstrates Nordic Capital’s effective support for mid-market companies within its focus sectors. Congratulations to Signicat for this well-deserved recognition.”

Fredrik Näslund, Partner and Head of Technology & Payments at Nordic Capital Advisors, comments:

“Since Nordic Capital’s initial investment, Signicat has embarked on a journey of growth and innovation. Through strategic acquisitions, the company has expanded its offerings and solidified its position as a leader in the digital identity space. With a comprehensive suite of compliant online authentication, identification verification, and electronic signature solutions, Signicat helps reduce risk and enhance user experience for ~1,300 enterprise clients globally, primarily in the financial services sector. With an unwavering commitment to customer protection and pioneering spirit, Signicat continues to redefine the landscape of digital identity solutions.”

 

Now, in its eighth year, “The FT 1000: Europe’s Fastest Growing Companies” lists the top 1000 companies in Europe that have achieved the highest percentage growth in revenues between 2018 and 2023. This year’s minimum average growth rate required to be included in the ranking was 36.3%. The complete list of the FT 1000 rankings can be found here: FT 1000: the eighth annual ranking of Europe’s fastest-growing companies

 

Press contact: 

Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-post: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 22 billion in over 130 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds.  Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors.”

Categories: News

EQT Future holds final close; over EUR 25 billion (USD 27 billion) raised across EQT Private Equity in fundraisings concluded during 2024 to-date

eqt
  • The EQT Future fund closes at EUR 3 billion (USD 3.3 billion) in total fund commitments, with total fee-generating commitments to the strategy, which includes co-investments, totaling EUR 3.6 billion (USD 3.9 billion)
  • This brings the combined final closes by the EQT Private Equity platform in 2024 to more than EUR 25 billion (USD 27 billion) in total commitments, following the EUR 22 billion (USD 24 billion) close of EQT X
  • EQT Future is a private equity strategy that invests in two themes: Climate & Nature and Health & Wellbeing. Its innovative approach enables EQT Private Equity to hold companies for longer, leveraging EQT’s proven active ownership approach and a tailored impact management and measurement toolbox to drive attractive downside protected returns

EQT is pleased to share that EQT Future (or the “Fund”) has held its final close. The Fund raised EUR 3 billion (USD 3.3 billion) in total commitments, with total fee-generating commitments for the overall strategy, including co-investments, totaling EUR 3.6bn (USD 3.9 billion)1. The close brings the combined final closes by the EQT Private Equity platform in 2024 to more than EUR 25 billion (USD 27 billion) in total commitments.

An integrated part of EQT Private Equity, EQT Future backs robust and downside-protected business models in two thematic areas: Climate & Nature and Health & Wellbeing. By adding a tailored impact management and measurement toolbox and having a more flexible investment mandate, it aims to innovate on EQT’s proven approach and create long-term value in its portfolio. The Fund is Article 9 accredited and has innovated around ways to align sustainability with financial returns, linking carried interest to sustainability targets.

The Fund received commitments from investors across the Americas, Asia-Pacific, the Middle East, Europe and the Nordics. It has a diversified investor base, including forward-thinking institutional and private wealth clients, notably family offices, with a greater share of commitments coming from the latter segment compared to the EQT Private Equity flagship funds.

Simon Griffiths, Partner and Head of the EQT Future Advisory team, said: “That EQT has been able to introduce a new strategy and receive strong backing for EQT Future’s attractive downside-protected offering shows that investors are keen to see innovation within private markets. We’ve married EQT’s proven private equity approach with new impact thinking to invest in market leaders that can be grown over the longer term and that can potentially transform whole industries. This differentiates EQT Future from many other impact funds, which typically focus on venture and growth-stage opportunities. We have partnered with three businesses where the founders and management share our vision of driving more sustainable products and services, and the portfolio has already shown its resilience.”

Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, including EQT Future, said: “EQT Future is a perfect complement to our Equity strategy. Having a longer-hold mandate makes us an ideal partner to long-term owners, such as industrial families and entrepreneurs. It also enables us to acquire crown jewels and develop them to their fullest potential. As an integrated part of our Private Equity strategy, EQT Future makes us a smarter thematic investor. It enables us to select the right opportunities with a focus on sustainable long-term value creation, and makes us a better partner to our clients.”

The Fund is currently circa 40-45 percent invested across three high-quality, downside-protected companies, which all show strong underlying earnings growth and are realizing their impact potential:

  • Global pest-control service provider Anticimex offers a biocide-free digital solution, paving the way for a sustainable pest control industry and contributing to curbing biodiversity loss
  • Bloom Fresh International develops innovative disease-resistant varieties of fruit, reducing the use of fungicides that have a negative impact on soil health, ecosystems and human health, while increasing the agricultural output and shelf life of the fruits
  • Pioneering autoinjector developer SHL Medical enables advanced drug self-administration for greater patient autonomy, thereby reducing the burden on healthcare systems

Management fees for the Fund are charged on invested capital during its full term. This means that management fees will be charged only as and when investments are made by the Fund. Co-investment figures included are invested capital that is fee and carry-paying.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 33

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR ‌​​232​‌ billion in total assets under management (EUR ‌​​‌130​‌ billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets.

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

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 20 countries across Europe, Asia and the Americas and has more than 1,800 employees.

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

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CapMan’s Annual Report for 2023 published

Capman

CapMan has published its Annual Report for 2023 on its website at www.capman.com/annual-report/. The report includes the Report of the Board of Directors, the Group Financial Statements, the Auditor’s Report, the Corporate Governance Statement and the Group Sustainability Report.

CapMan also publishes the Annual Report in accordance with European Single Electronic Format (ESEF) reporting requirements with the format of the report being Extensible Hypertext Markup Language (xHTML). In line with the ESEF requirements, the primary statements have been labelled with XBRL tags and notes have been labelled with XBRL block tags. Ernst & Young, Authorised Public Accountants has provided an independent auditor’s reasonable assurance report on the ESEF Financial Statements. The information has been assured in accordance with the international standard on assurance engagements ISAE 3000. The Annual Report is available in pdf and xHTML formats at www.capman.com/annual-report/ and as attachments to this release.

The sustainability report is prepared in accordance with the GRI Standards and includes material sustainability information for CapMan Group. In addition, the report provides information on sustainability commitments and the progress towards sustainability objectives. CapMan publishes a separate overview on sustainability topics related to its real estate, infrastructure assets and portfolio companies as the information becomes available later in the spring.

The Corporate Governance Statement and Remuneration report have also been published as separate pdf files at www.capman.com/shareholders/governance/ and www.capman.com/shareholders/governance/remuneration/ and as attachments to this release.

CAPMAN PLC

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

For more information, please contact:
Linda Tierala, Director, IR and Sustainability, +358 40 571 7895, linda.tierala@capman.com

Attachments: 
Annual Report 2023
Financial Statements 2023
Corporate Governance Statement 2023
Remuneration report 2023
Sustainability Report 2023
743700498L5THNQWVL66_2023-12-31-en

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. 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 approximately 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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DIF Capital Partners raises EUR 6.8 billion for its latest infrastructure funds

DIF

The successful fund raisings for DIF VII and CIF III represent a 50% increase compared to the prior funds.

DIF Capital Partners (DIF), a leading global infrastructure fund manager, is pleased to announce it has raised EUR 6.8 billion for its latest infrastructure funds with final closes across DIF Infrastructure VII (DIF VII) EUR 4.4 billion, DIF Core-Plus Infrastructure Fund III (CIF III) EUR 1.6 billion, and certain Co-investment vehicles EUR 0.8 billion.

DIF experienced strong investor demand from both existing and new institutional investors across the globe, enabling both DIF VII and CIF III to exceed their target fund sizes of EUR 4.0 billion and EUR 1.5 billion respectively. Total commitments for the predecessor funds (DIF VI and CIF II) equaled EUR 3.0 billion and EUR 1.0 billion.

DIF VII targets infrastructure investments, often concession-based or with long-term offtake agreements offering stable and predictable cash flows as well as attractive risk-adjusted returns. Sectors covered are transportation, (renewable) energy, digital infrastructure as well as utilities.

CIF III targets investment opportunities with strong growth potential. It focuses on a broad range of infrastructure sectors including digital infrastructure (specifically datacenters and fibre), energy transition as well as sustainable transportation.

Both fund strategies target a mix of operational and greenfield investments and predominantly focus on Europe and North America.

The funds received commitments from a diverse institutional investor base of more than 110 investors across Europe, the Americas, Asia, and the Middle East, including public and private pension plans, sovereign wealth funds, insurance companies, financial institutions, foundations, and private wealth investors.

Wim Blaasse, CEO at DIF Capital Partners, said: “We are extremely grateful to our investors for their trust and support, and this successful fundraising reinforces DIF’s leading position in the infrastructure market.

In addition, we are excited by the journey ahead as we team up with CVC, and accelerate the growth of our investment capabilities, our geographic reach, and lever the CVC network”.

Gijs Voskuyl, Deputy CEO at DIF Capital Partners, said: “An ever growing demand for infrastructure capital provides an exciting investment opportunity for us, and with our investment track record and experienced teams on the ground across our network of offices in eleven countries, we are confident we can use this capital to take advantage of attractive investment opportunities.”

To date, both funds have invested or committed to nine investments each, thereby deploying around 50% of total commitments. For DIF VII this includes investments in Saur, a global water solutions provider, Fjord1, a Norwegian electric ferry concessions operator and Green Street Power Partners, a US distributed solar developer/IPP. For CIF III this includes investments in metrofibre, a German urban fibre roll-out platform, Tonaquint, a US datacenter platform and Rail First, an Australian rail leasing business.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

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Tikehau Capital appoints Margaux Buridant and Célia Hamoum Co-Heads of Private Wealth Solutions

Tikehau

Tikehau Capital, the global alternative asset management group, today announced the
appointment of Margaux Buridant and Célia Hamoum as Co-Heads of Private Wealth
Solutions (“PWS”), the Group’s specialised entity dedicated to family offices and high
net worth individuals.

These appointments underscore Tikehau Capital’s commitment to enhancing its offer for private
investors, who are increasingly seeking access to private funds.
In 2021, Tikehau Capital established a Private Wealth Solutions Group (PWS) within its sales and
marketing division with the goal of improving direct access to Group funds for family offices and high
net worth individuals worldwide. This strategic move aimed to cater to a burgeoning client segment that
is progressively more sophisticated and inclined to increase its allocation to alternative assets.
The PWS entity enhances Tikehau Capital’s existing coverage of intermediary private clients provided
by Private Banks, Independent Financial Advisors (IFAs), and unit-linked insurance contracts.
Margaux Buridant joined Tikehau Capital on February 22nd, 2024, and will be based in New York.
Bringing 15 years of expertise in Wealth Management, she specialises in offering high-end private
clients investment advisory services and portfolio management.

In her role, she will develop and structure Private Wealth Solutions (PWS), overseeing the existing
team, to expand Tikehau Capital’s global business with Entrepreneurs, High Net Worth Individuals,
Family Offices, and North American Private Banks.
Prior to joining Tikehau Capital, Margaux served at Bank of the West (BNP Paribas, and more recently
BMO) in New York as a Senior International Wealth Strategist and Wealth Management Regional
Manager. Before that, she began her career as a Notary in France, later transitioning to legal services
as a Managing Director at Colombus Consulting Group NY.

Margaux holds a master’s degree in business & law and a Notaire diploma from Aix-en-Provence
University, as well as a US International Tax certification from New York University.
Célia Hamoum is based in Paris. She started her career with Tikehau Capital in 2015 and has been
instrumental in driving the firm’s expansion in Private Wealth ever since. Initially, she spent six years in
the Sales Distribution team as a sales representative focused on Independent Financial Advisors (IFAs),
banks, and asset managers. In 2021, she transitioned to the Private Wealth Solutions team,
concentrating on serving private clients and family offices in France, Belgium, and Luxembourg.
Célia holds a bachelor’s degree in finance from EDHEC Business School and a Master’s in Portfolio
Management from IAE Paris-Est.

Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital declared:
“We are delighted to welcome Margaux and congratulate Celia on their appointments to these
leadership roles. Given that Private Wealth Solutions is a pivotal area of growth for Tikehau Capital,
having an integrated team covering Entrepreneurs, High Net Worth Individuals, and Family Offices
globally across the firm’s strategies and solutions will ensure optimal service delivery. As we embark
on a new phase of expansion, we extend our best wishes to Margaux and Celia for success in this
new chapter”.

ABOUT TIKEHAU CAPITAL
Tikehau Capital is a global alternative asset management group with €43.2 billion of assets under management
(at 31 December 2023).
Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets,
private equity and capital markets strategies) as well as multi-asset and special opportunities strategies.
Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary
global deal flow and a track record of backing high quality companies and executives.
Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions
to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts
on society. Leveraging its strong equity base (€3.2 billion of shareholders’ equity at 31 December 2023), the firm
invests its own capital alongside its investor-clients within each of its strategies.
Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong
entrepreneurial spirit and DNA, shared by its 758 employees (at 31 December 2023) across its 15 offices in Europe,
Middle East, Asia and North America.
Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612;
Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

PRESS CONTACTS:
Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30
UK – Prosek Partners: Philip Walters – +44 (0) 7773 331 589
USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238
press@tikehaucapital.com

SHAREHOLDER AND INVESTOR CONTACTS:
Louis Igonet – +33 1 40 06 11 11
Théodora Xu – +33 1 40 06 18 56
shareholders@tikehaucapital.com

Categories: People

Fremman Capital Enters Into A Put Option Agreement To Acquire Innovative Beauty Group, A Pioneering Turn-Key Solution Provider Servicing Retailers And Brands In The Beauty And Personal Care Space

Fremman

Fremman Capital (“Fremman”) is pleased to announce the execution of a put option agreement to acquire Innovative Beauty Group (“IBG”), a Beauty and Personal Care service provider, part of the Albéa group.

The Company offers its clients a 360-degree product development service, with end-to-end product management capabilities addressing the more complex aspects of bringing a product to market, including the ideation of the product, formulation, filling, packaging solutions and marketing.

IBG leverages its extensive global network, with 10 offices across three different continents, to provide local expertise to its +200 customers. With creative and sourcing capabilities across North America, Europe, and Asia, IBG’s 300 employees offer unrivalled expertise across the entire Beauty and Personal Care value chain, acting as a true value-added partner to its customers.

Xavier Leclerc de Hauteclocque, CEO of IBG, said: “We look forward to this next stage of growth together with Fremman as a new shareholder. We operate in an exciting and fast- growing market with a great opportunity to scale up presence and capabilities across geographies, product categories and customer segments and further elevate our value-add and quality, following our vision to provide the best service to our clients.”

Olivier de Vregille, founding partner of Fremman, said: “We look forward to working with Xavier and his team to accelerate the growth of the company. We have been following this industry for a long time and we strongly believe in the innovative IBG model which disrupts the traditional Beauty and Personal Care supply chain while driving excellence and best results for all stakeholders.”

Subject to final closing of the contemplated transaction, Fremman will have 8 platform investments in its debut fund, which closed in 2023 having raised over €600 million. Since inception in 2020, the firm has completed six platform investments in highly growing markets: Bollo Natural Fruit (Spain), VPS (Netherlands), Medinet (UK), Palex Medical (Spain), Kids Planet (UK), and Connexta (Germany), and more than 50 add-on investments. The Fund has also recently signed the acquisition of HT Médica, one of the leading radiology operators in Spain.

The contemplated transaction is subject to the consultation of the relevant employee representative bodies of the Albea group.

About IBG

IBG is a Beauty and Personal Care service provider, helping businesses create quality beauty products. The Company covers the entire value chain, offering a wide spectrum of solutions from design to formulation, packaging and marketing. IBG has an international team of over 300 people across 10 locations worldwide. For more information about IBG please visit: https://innovativebeautygroup.com/

About Fremman

Fremman is a pan-European, mid-market investment firm with offices in London, Luxembourg, Madrid, Munich and Paris that looks to partner with successful management teams to help transform businesses from local champions to multinational sustainable leaders. Its senior Partners have a long history working together, with over 100 years of combined investment experience. Fremman’s goal is to build better, more sustainable businesses that have a positive impact on society.

For more information about Fremman please visit: https://fremman.com/

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Cibus Capital raises USD 600m to invest in the sustainable food and agriculture transition

Cibus Capital

n

4 March 2024, LONDON UK – Cibus Capital LLP (‘Cibus’), the specialist investment advisory firm focused on sustainable food and agriculture, is pleased to announce the successful close of its second mid-market private equity fund, Cibus Fund II (‘CF II’) with over USD 510 million in commitments, and its second venture fund, Cibus Enterprise Fund II (‘CE II’) with over USD 135 million in commitments.

The fundraise attracted investment from a diversified investor base consisting of returning and new participants. Investors in the two funds include Los Angeles County Employee Retirement Association (‘LACERA’) and Retail Employees Superannuation Trust (‘Rest’), one of Australia’s largest profit-to-member superannuation funds, amongst other major institutional investors.

“Rest expects our investment in Cibus Fund II to deliver long-term value for our members while growing our exposure to companies at the forefront of sustainable agriculture practices. It also brings us closer to our target of achieving a one per cent allocation to impact investments across our total portfolio by 2026,” said Rest’s Head of Responsible Investment & Sustainability, Leilani Weier.

CE II invests in late-stage venture through innovative companies driving technologies with the potential to disrupt food production or processing, increasing resource efficiency and sustainability. The Fund has already made ten investments across sectors, including robotics, precision chemistry for crop protection, and natural capital.

Rob Appleby, Founder and CIO of Cibus Capital comments: “Farmers and landowners have taken centre stage in the debate about food security and environmental conservation. This coincides with a clearer view of the risks and opportunities faced by investors and stakeholders alike in food production. We thank our original supporters and those looking at Cibus for the first time, for the support they have provided us as we direct capital to those companies contributing to carbon reduction, increasing biodiversity and making compelling financial returns.

Alastair Cooper, Head of Venture of Cibus Capital comments: “Agri-Food Technology provides the potential for unprecedented positive change across resource efficiency, GHG emissions, biodiversity, food security, human health and animal welfare. We are excited about the possibilities to come, deploying capital to innovative companies supporting the technological revolution much needed in our food system.”

 

—END—

About Cibus Capital LLP

Cibus Capital LLP is the London-based investment advisor to the Cibus funds. The Cibus funds partner with food and agriculture companies that provide investors with a risk-adjusted return on capital and a sustainable competitive advantage. Cibus has raised over USD 1bn to invest in two strategies: mid-market growth/buyout investments in food production and processing businesses and late-stage agrifood technology companies. For more information visit cibusfund.com.

For more information, please contact:
Montfort Communications
+44(0)7752 329 851
cibus@montfort.london

 Legal References and Disclaimer: 

References herein to  “Cibus Fund II” are references to Cibus Fund II LP; “Cibus Enterprise Fund II” refers to Cibus Enterprise Fund II LP, which are both managed by Cibus Investments II Limited and advised by Cibus Capital LLP.  References to “Cibus” are to Cibus Capital LLP.  None of Cibus or Cibus Investments Limited make any representation as to the accuracy, reliability or completeness of this Press Release. This release does not constitute an offer to subscribe for interests in the Cibus funds or any other actual or prospective fund advised by Cibus Capital LLP.

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TA Appoints Arthur Price as General Counsel

TA associates

BOSTON, MA – March 5, 2024 – TA Associates (“TA” or the “Firm”), a leading global private equity firm, today announced the appointment of Arthur Price as the Firm’s General Counsel, effective immediately. Price succeeds Jeffrey C. Hadden, who will assist with Price’s onboarding before he transitions into retirement and his new role as a Senior Advisor to the Firm.

Based in TA’s Boston office, Price will be responsible for all legal matters across the Firm and portfolio, working closely with senior leaders to manage legal and regulatory risks and assist with corporate governance matters. He will report to Jennifer Barbetta, Chief Operating Officer and Managing Director.

“I am thrilled to join TA and greatly respect its commitment to collaboration, respect and responsibility to its portfolio companies and investors,” said Price. “I look forward to leading TA’s legal function and working with TA’s impressive team to contribute to the Firm’s operational efficiency.”

Price joins TA from Thomas H. Lee Partners, where he served as a managing director, Chief Compliance Officer and Assistant General Counsel. Prior to Thomas H. Lee Partners, Price was an attorney at Ropes & Gray LLP, where he focused on securities offerings, mergers and acquisitions and general corporate representation.

“Arthur brings a wealth of knowledge and strong expertise in navigating the evolving legal and regulatory landscape. His guidance and experience make him a valuable addition to the Firm, and we are delighted to welcome him,” said Ajit Nedungadi, Chief Executive Officer at TA. “We also thank Jeff for his leadership in this role over the past decade and look forward to his continued partnership as a Senior Advisor to TA.”

Price holds a B.A. in International Relations from Georgetown University and a J.D. from Georgetown Law School.

About TA
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. More information about TA can be found at www.ta.com.

Categories: People

Bene Bono closes a funding round of 10 million euros

AXA

Bene Bono closes a funding round of 10 million euros to accelerate the fight against food waste at its source and to become the undisputed leader in the European market.

As a service of sustainable groceries, Bene Bono saves farmers and manufacturers products from waste, to offer them to its clients at a cheaper price. The company marks a significant milestone in its green and social commitments. The foodtech player announces a 10 million euro fundraising led by AVP (AXA Venture Partners) with the participation of 2050 and historical investors (Stride VC and Project A).

1- Bene Bono: a strong appetite for combating waste at its source

As 1.6 billion tons of food are lost or wasted each year (BCG study), Bene Bono intends to fight this number for good. The company has already saved more than 2,600 tons of products. Their magical recipe? Selling all the good products that do not fit aesthetic or logistical standards. Since 2020, Bene Bono has thus been helping organic farmers and manufacturers in selling their qualitative products directly to consumers.

This way, the brand has provided access to organic, local, and seasonal fruits and vegetables, as well as over 500 grocery items that also need to be saved, such as grocery food, drinks, wines, beers, sweets, hygiene, beauty, and cleaning products, all at a discount up to 40%.

The service now covers nearly 300 cities in France, following its recent expansion to Toulouse and Bordeaux, in addition to the four metropolitan areas where it was already active (Paris, Lyon, Marseille, Lille, and their surroundings). This growth has led to the preparation of several thousand orders per week for the benefit of 30,000 active clients in 2023, three times more than the year before.

While food price inflation, reaching 21% over the last two years(1), would prevent 9 million French people from eating healthily(2), Bene Bono has enabled its loyal customers to save an average of 200 euros per year.

On the supplier side, the brand now collaborates with over 400 local organic producers, twice as many as in 2021, and 150 committed manufacturers, thereby contributing to providing them with an additional revenue and a long term professional relationship made of trust.

2- Recognized and supported commitment with a 10 million euro investment

This 10 million euro funding round was led by AVP (AXA Venture Partners) with the participation of 2050 and historical investors – Stride VC and Project A. This new funding round will allow Bene Bono to strengthen its position as a major player in the fight against waste at its source.

With this capital raise, the Foodtech player aims to:

  • Recruit new talents for strategic positions, such as a Director of Purchasing, a Head of Product, and a Lead Data Manager.
  • Expand its range of saved products to new categories, aiming for 1,000 references by the end of the year and further develop its private label (already 7 products).
  • Expand its business activities in the French market and continue the expansion of its service in Spain (particularly in Seville and Malaga).
  • Reduce its environmental footprint by implementing reusable bags and delivery by electric vehicles and bicycles, amongst other things.
  • Develop new features to continue satisfying a maximum number of customers and optimize its logistics processes.

These new features have been initiated at the end of 2023, transforming Bene Bono’s operational mode to fully customizable weekly orders, leveraging a unique technology. Indeed, customers can now fully customize their groceries, choosing from over 500 available saved products.

Sven Ripoche, co-founder of Bene Bono – “This funding round follows the very successful year of 2023 marked by our successful launch in Spain and over 2,100 tons of products saved by our users. It will allow us to fight against waste on a larger scale, offering even more good products at reduced prices to the French and Spanish people!”

François Robinet, Managing Partner at AVP – “We are delighted and extremely proud to have been selected by the founders of Bene Bono, a major player in Foodtech, to accompany them in the next chapters of their story and this new phase of growth. We have been impressed by the intrinsic merits of the company and its remarkable development so far. This investment also demonstrates AVP’s commitment to investing in key sectors for the sustainable development of our societies, such as the fight against waste. The sector in which Bene Bono operates is at the heart of the challenges of transforming everyone’s food habits. We are pleased, along with current investors and 2050, to provide Bene Bono with the means to continue developing the platform in France and Spain and to support Grégoire, Sven, Claire, and all their teams in this new stage. »

About AVP (AXA Venture Partners)

AVP (AXA Venture Partners) is a global venture capital firm specializing in high-growth, technology- enabled companies, managing $1.3 billion in assets across four investment strategies: Venture, Growth, Late Stage, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe.

With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. AVP operates under AXA IM- Alts, the alternative investment business unit of AXA IM.

For more information, visit axavp.com
Contact: Sébastien Loubry, Partner Business development (sebastien@axavp.com)

About Project A

Project A is one of the leading early-stage tech investors in Europe with offices in Berlin and London. In addition to $1bn assets under management, Project A supports its portfolio companies with a team of over 120 functional experts in key areas such as software and product development, data, brand, design, marketing, sales and recruitment. The venture capital firm was founded in 2012 and has backed more than 100 startups. The portfolio includes companies such as Trade Republic, WorldRemit, sennder, KRY, Spryker, Quantum Systems and Voi.

About 2050

2050 (Paris, France) is a new breed of investment fund that combines performance and company alignment. It empowers those who are building a fertile future, a world aligning economic, social and ecological challenges. Through its unique structure of a stewardship-owned evergreen model, and its ecosystem investments, the fund aims to invest over one billion euros by 2030, catalyzing positive change for a better future. The young portfolio includes companies such as Sweep, Peabbl, Fifteen and Kickstarter.

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