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Atlantic Power Transmission LLC, a Blackstone Infrastructure Partners Portfolio Company, Announces $50 Million Commitment to New Jersey Workforce Development

Blackstone

rinceton, New Jersey – April 27, 2022 – Atlantic Power Transmission LLC (“APT”), a Blackstone (NYSE: BX) portfolio company, announces a $50 million commitment to workforce development in New Jersey. The commitment contributes towards creating a workforce hub for the burgeoning offshore wind industry in the Northeast region and the state, addressing one of the recommendations outlined by the New Jersey Offshore Wind Strategic Plan. APT remains committed to this smart, coordinated approach at this critical early stage in the development of the nation’s offshore wind market.

APT will initiate this investment into the New Jersey workforce upon award of its bids to provide transmission supporting the delivery of 3,600MW of offshore wind power to the existing electrical grid under the New Jersey Offshore Wind SAA Transmission Solicitation initiated by the New Jersey Board of Public Utilities and PJM Interconnection. This funding commitment of $50 million over ten years will support workforce development investment in New Jersey’s education, training, and research institutions.

APT has prioritized and actively partnered with its New Jersey Union Coalition in support of its bids and will continue to further expand the existing partnership that APT and Blackstone have with labor. The project’s broad-based New Jersey Union Coalition includes Eastern Atlantic States Regional Council of Carpenters; International Union of Operating Engineers Locals 825 & 25; Iron Workers Local 399; and International Brotherhood of Electrical Workers Local 456.

APT has engaged New Jersey workforce development programs to help ensure New Jersey’s workers will be well prepared to lead the next phase of the development of the offshore wind industry. APT and its Alliance Partners – industry leaders with established offshore wind transmission experience – are committed to using our collective expertise and resources in offshore wind development to map out new, high-impact technical and professional employment opportunities for New Jersey citizens. As part of this workforce development initiative and investment, APT is actively collaborating with local enterprises with a focus on Diversity, Equity & Inclusion, statewide leadership, and Middlesex academic institutions, including Middlesex College and Middlesex County Vocational and Technical Schools.

Commenting on the announcement, APT CEO Andy Geissbuehler said, “This generational investment will support New Jersey and the development of its workforce that will be necessary to build this new industry and to establish a new national standard for wind transmission. Investing in New Jersey’s workforce is crucial for the future of clean energy and this commitment to the next generation of New Jersey families reflects our company’s values.”

Sebastien Sherman, Senior Managing Director at Blackstone, added, “As experienced developers, we recognize that we only win if communities we are serving win alongside us. APT’s collaboration with key stakeholders, including the New Jersey Union Coalition, on proactive design of workforce development programs and development of local content opportunities will cement New Jersey’s first-mover advantage in the burgeoning offshore wind transmission sector for decades to come”.

APT’s project is expected to generate $1.5 billion in economic benefits to New Jersey, including enabling 1,000 direct jobs per year during 5 construction years. Beyond these quantifiable benefits, APT and the New Jersey Union Coalition are working to establish New Jersey’s industry leadership by focusing on maximizing local manufacturing opportunities, including working with local companies and building components in-state. APT is in the process of developing sites to assemble 6,000-ton substation foundations and additional sites to install sensitive electrical equipment into substations.

William Sproule, Executive Secretary-Treasurer of the Eastern Atlantic States Regional Council of Carpenters remarked, “We wholeheartedly support the APT project with Blackstone. Their initiatives, strategic planning, and the discussions that we’ve been having even before construction starts is going to be extremely beneficial to New Jersey residents and help create more jobs in the construction industry as well as give us the ability to recruit new members into our union, into our apprenticeship, and provide them with career training and life-sustaining jobs with good pay and benefits”.

Blackstone has more than a decade of experience investing in renewable energy and climate change solutions and has long worked with the skilled men and women of America’s labor movement. Since 2019, Blackstone has committed over $16 billion in investments that it believes are consistent with the broader energy transition. Blackstone Infrastructure helped launch Atlantic Power Transmission LLC in 2021 to develop, construct and operate planned transmission systems along the US East Coast.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Blackstone Infrastructure Partners
Blackstone Infrastructure Partners is an active investor across energy, transportation, digital infrastructure and water and waste infrastructure sectors. We seek to apply a long-term buy-and-hold strategy to large-scale infrastructure assets with a focus on delivering stable, long-term capital appreciation together with a predictable annual cash flow yield. Our approach to infrastructure investing is one that focuses on responsible stewardship and stakeholder engagement to create value for our investors and the communities we serve.

Atlantic Power Transmission LLC (“APT”)
APT is a Blackstone Infrastructure Partners Portfolio Company, headquartered in Princeton, New Jersey and is dedicated to developing, constructing and operating planned transmission systems along the US East Coast to enable efficient interconnection of commercial scale offshore wind facilities.

Contact
Paula Chirhart
Paula.Chirhart@Blackstone.com
347-463-5453

Categories: News

Peafowl Plasmonics raises 40MSEK in seed round led by Industrifonden & Navigare Ventures

Industriefonden

We’re happy to announce our investment in Peafowl Plasmonics, as they take the next step on their commercialization journey. With this seed round of funding, co-led by Industrifonden and Navigare Ventures, and backed by current owners, the company is disrupting energy supply with transparent solar power to replace batteries and cables, making our world greener, smarter, and more sustainable.

The necessity to reduce energy consumption and the ever-increasing demand for renewable energy sources are driving the development of new technology. Peafowl’s direct plasmonic light harvesting cell converts light into electricity, using plasmonic nanoparticles as the active, photovoltaic material. By replacing single-use batteries and adding aesthetic value, energy can become beautiful.

The first step will be to relocate out of Ångström Laboratory, Uppsala University. The new production facility will bring the capacity to produce prototypes and fine tune the production process, to be deployed at the customer’s production site, facilitating integration into their manufacturing.

“We are very happy to be able to establish our own production facility, which is what we need to commercialize our technology. We will also look to complement our team with some key competences to increase our capacity further,” says Cristina Paun, Co-founder of Peafowl. “With this in place we really look forward to reach a wider market with our transparent light harvesting cells, which will make a true sustainability impact in many different applications.”

With the new facility in operation, initiated development projects with commercial partners within glass manufacturing, e-paper displays and consumer devices, will progress and new projects will be committed. While the technology development and production will move to new premises, the research part of the company will remain at Ångström Laboratory, with its close connection to the academic environment, Uppsala University being recognized as world leading in plasmonics research.

“The characteristics of plasmonics are truly amazing and enables new and completely invisible energy solutions for electronics. The Peafowl technology makes it possible to power functionalities off the grid, which will become increasingly important,” says Anna Haupt, Investment Director at Industrifonden. “We see huge potential in many product segments, and I look forward to supporting the stellar team of Peafowl in their mission of providing the world with green energy.”

“By combining frontier research in quantum physics with entrepreneurial drive, Peafowl is creating a new category of light energy harvesting technology, with the potential to redefine energy supply for electronics,” saysAlex Basu, Investment Manager at Navigare Ventures. “This is precisely the type of science-based firms Navigare Ventures is looking for, ones that can shift industries, and why we are excited to announce Peafowl as one of our first investments.”

In conjunction with this funding round, Peafowl Solar Power has changed name to Peafowl Plasmonics, which better describes the company’s mission to explore the unique characteristics of plasmonics and the technology that will be developed with it.

Read more in Di Digital today.

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Blackstone Announces Len Laufer, a Leader in Data Science and Technology across the Financial Services Industry, as Senior Advisor

Blackstone

New York, April 26, 2022 – Blackstone (NYSE: BX) today announced the appointment of Len Laufer, a pioneer in data science and long-time executive across the financial services industry, as a senior advisor. He will advise across Blackstone’s businesses, with a focus on Blackstone Growth (BXG), the firm’s growth equity investing platform.

Mr. Laufer brings a rare combination of experience as both a successful entrepreneur and Fortune 100 leader across industries. In 1997, he founded Argus Information and Advisory Services and grew the company over the next 15 years into a leading provider of information and analytical solutions to the payments industry. After selling the business in 2012, Mr. Laufer went on to lead JPMorgan Chase’s machine learning and data science efforts as Head of Intelligent Solutions. Most recently, he served as CEO of Cerberus Technology Solutions, the operating subsidiary of Cerberus Capital Management, which focused on the use of technology, data and artificial intelligence in investment activities and at the firm’s portfolio companies. Mr. Laufer also served as Co-Chairman of the Board for Alberstons Companies, one of the largest food and drug retailers in North America, until 2021.

Vini Letteri, Senior Managing Director and Head of Financial Services for Blackstone Growth, said: “Len’s breadth of experience and first-hand understanding of the challenges of scaling a business will be invaluable to our portfolio companies and their founders. All companies, regardless of their industry, are looking to better use technology to improve their business and protect against disruption. Len’s knowledge will be a real benefit as they face these challenges.”

Len Laufer added: “I applaud Blackstone’s emphasis on the importance of data and technology as both an investing theme and as an operational imperative for the companies across its portfolio. I look forward to working with the BXG team and others across the firm in these efforts.”

Mr. Laufer graduated cum laude with honors from Harvard College with an AB in Social Studies, and earned an MBA from the Wharton Business School at the University of Pennsylvania.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

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

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PlayOn! Sports and GoFan to Merge, Creating Leading Technology and Media Platform for High School Sports and Events

KKR

Combined company will offer best-in-class products and services to stakeholders across the high school sports landscape

ATLANTA, April 26, 2022 /PRNewswire/ — PlayOn! Sports, a leading high school sports media and technology company, and GoFan, a leading digital ticketing company in the high school sports market, today announced that they have entered into a definitive merger agreement. KKR, which joined Panoramic Ventures as an investor in PlayOn! earlier this year, is making an additional investment from its North America Fund XIII fund to support the strategic combination.

PlayOn!, founded in 2008, and GoFan, in 2001, have each strategically prioritized and made an impact in the high school sports and activities market. PlayOn! is best known for operating the NFHS Network, which provides live and on-demand content for high school sports and activities in all 50 states and Washington, DC. GoFan is a trusted digital ticketing provider for thousands of high schools and millions of fans nationwide. The NFHS Network is a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations. GoFan is closely aligned with the NFHS as an official partner to 40 of its member associations and counting. Together, PlayOn! and GoFan provide streaming and digital ticketing services to nearly 10,000 high schools nationwide.

“We are excited to be joining forces with an industry leader like GoFan as we capitalize on our tremendous market opportunity and build a winning high school sports technology and media platform,” said David Rudolph, CEO of PlayOn!. “The combination of our highly complementary capabilities in ticketing and streaming creates a one-stop shop with unparalleled access and streamlined customer experiences for in-person, live-stream and on-demand events.”

“PlayOn! and GoFan have a common mission to elevate the event experience for high school administrators, coaches and fans, and today’s milestone will help us set the industry standard for school and fan engagement,” said B.J. Pilling, CEO of GoFan. “We are confident the combination of our teams will drive exponential value to our mutual state association and high school partners. We intend to tirelessly promote and market school events across the country to drive increased revenue through ticket sales and streaming.”

“We are pleased to further our investment in PlayOn! to support the strategic combination with GoFan,” said Ted Oberwager, Partner at KKR. “This transaction unites two mission-oriented teams with a shared vision for the future.”

“The merger of PlayOn! and GoFan brings together two leaders in high school streaming and ticketing. This combination will catalyze a new era of innovation for state associations, schools, and fans,” said Mark Buffington, Managing Partner of Panoramic Ventures. “As a long-time partner to both David and B.J., I am thrilled to see this combination come together. We have built a lot of value for our partners – the NFHS and its member State Associations and schools – and the next phase of our journey will create even more benefits for our stakeholders, including fans of high school sports and activity content.”

The transaction, which is expected to close in the second quarter of 2022, is subject to regulatory approvals and other customary closing conditions. Financial terms of the transaction were not disclosed.

About PlayOn! Sports
PlayOn! Sports was founded in 2008 with the purpose of honoring and celebrating the achievements of high school students, parents, coaches, and teachers in every community across the country. It is the nation’s leading high school sports media company and streams more live sports events than any other company in the world. PlayOn! is in its ninth year of operating the NFHS Network, a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations. PlayOn! is responsible for the day-to-day operations of the NFHS Network, which delivers live and on demand high school events at www.NFHSnetwork.com and related apps. For additional information about PlayOn! Sports, please visit www.PlayOn!sports.com or follow PlayOn! Sports on LinkedIn.

About GoFan
GoFan is the largest professional digital ticketing and event management system for high schools and the trusted solution for more than 500,000 events nationwide. GoFan, closely aligned with the National Federation of State High School Associations (NFHS) and official partners with 40 of its member state associations, offers a digital ticketing solution for high school events from basketball and football games to school plays, dances, and debates. GoFan helps thousands of high schools across the country increase revenue, streamline their event execution, and reduce the hassle for their athletics and activities managers — no scanning, hardware or contact required, ultimately creating a better experience for the fan. Visit get.gofan.co for more information.

Media Contacts
PlayOn! Sports
Jessica Phillips
(404) 671-9529
media@PlayOn!Sports.com

GoFan
James Dickinson
(704) 756-3225
media@GoFan.co

SOURCE PlayOn! Sports

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Patricia Industries funds strategic add-on acquisition by Advanced Instruments

Investor

Advanced Instruments, a leading global provider of analytical instruments, consumables, software and services for the biopharmaceutical, clinical and food & beverage industries, has signed an agreement to acquire Artel, a leading provider of calibration and validation instruments, consumables, software and services used by life science laboratories.

The acquisition of Artel adds to Advanced Instruments a highly complementary, differentiated and innovative portfolio of liquid handling analytical instruments and consumables, and significantly expands the company’s R&D capabilities within the rapidly growing liquid handling market.

For the twelve-month period ending December 2021, Artel revenues and adjusted EBITDA were approximately USD 20m and USD 5m, respectively. Average annual growth for the past three years amounts to 17 percent.

The total consideration amounts to an upfront payment of approximately USD 85m on a cash- and debt-free basis, and additional payments of up to USD 55m subject to achievement of certain 2022 revenue targets. The consideration will be funded with equity from Patricia Industries, Advanced Instruments’ balance sheet cash, and external debt. The acquisition is expected to close during the second quarter 2022.

“We are very pleased with the performance of Advanced Instruments so far during our ownership, including the recent acquisition of Solentim. With the acquisition of Artel, the company creates a very strong platform of highly innovative instrumentation, consumables and services targeting fast growing sectors, such as the biopharmaceutical industry. Growing our great platform companies remains a key priority for Patricia Industries, and we continue to allocate significant capital toward this”, comments Investor President and CEO Johan Forssell.

“We are excited to announce another strategic add-on acquisition for Advanced Instruments. We see strong complementarity between the two businesses and significant opportunities to use the strength of their combined commercial and R&D capabilities to drive growth and create long-term value”, says Christian Cederholm, Head of Patricia Industries.

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

About Advanced Instruments
Advanced Instruments is a global provider of analytical products and services for the clinical, biopharmaceutical, and food & beverage markets. With a strong brand reputation and deep customer relationships, it is recognized as the global authority on osmolality testing, and its products are the standard within each of its core markets. Advanced Instruments is based in Norwood, Massachusetts and is majority owned by Patricia Industries.

About Artel
Artel is a leading provider of analytical instruments, consumables, software and services used by life science laboratories within the biopharmaceutical, clinical and diagnostics industries to calibrate, validate and automate their liquid handling processes. Artel’s technologies are recognized globally for enabling its customer base to work more accurately and efficiently, and bring valuable therapies to patients more quickly. Artel is headquartered in Westbrook, Maine.

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IK Partners enters into exclusive negotiations with LGT for the acquisition of Batisanté

London, 26 April 2022 – IK Partners (“IK”) is pleased to announce that the IK IX Fund has entered into exclusive negotiations with LGT Capital Partners (“LGT”) to acquire a majority stake in Batisanté (“the Company” or “the Group”) alongside management who will be reinvesting. Financial terms of the transaction are not disclosed.

Founded in 1987 and based in Neuilly-Plaisance, France, Batisanté is a leading compliance and safety services provider, primarily servicing residential buildings and professional customers.

With approximately 500 technicians, the Company offers four main services: fire protection, pest control, diagnostics, and maintenance works. Batisanté is the leading player in the Paris area and is expanding into other French regions.

The Group has been able to differentiate itself with its full-service offering, a KPI-orientated approach, and solid tech-enabled capabilities. Batisanté has grown considerably over recent years, organically and via M&A. In December 2021, Batisanté completed the transformative acquisition of Bouvier, a sizeable competitor in Paris. The Company benefits from a large base of contracted revenues.

The next phase of the Company’s journey will see IK working alongside management to pursue organic growth in core verticals, cement its leadership position in the Paris area and expand into other regions.

Nicolas Milesi, CEO at Batisanté, said: “Having joined the Company in 2019, I have had the pleasure of leading the Group through a significant period of growth. Our success is due to the vast range of services we provide and our best-in-class operations. We rely on a dedicated team of experts who provide unrivalled support to all our clients. We thank LGT for their support to date and warmly welcome IK as we continue on our journey. I have no doubt that their experience and expertise will help us take the Company even further.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK IX Fund, said: “We have been impressed with Batisanté’s journey to date and are very happy to be partnering with Nicolas and the team in the next step of their journey. The Company plays an important role in offering services that are critical for the maintenance of buildings and we have observed their resilience over time. We look forward to supporting the team with their ambitious M&A strategy.”

Etienne Haubold, Partner at LGT, said: “It has been fantastic to work with Nicolas Milesi and the wider team at Batisanté. We are delighted that we have been able to support the Company’s growth over the years; creating the French leader of the residential building protection market. We wish the team every success for the future and strongly believe that with the support of the IK team, Batisanté is very well positioned for its next phase of growth.”

For further questions, please contact:

IK Partners
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

Batisanté
cdellan@batisante.fr

LGT Private Debt
Phone: +33 1 81 80 56 00
guillaume.claire@lgtcp.com

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Biofourmis Receives Significant Growth Investment from General Atlantic to Propel Company to Unicorn Status

$300M Series D to fund continued growth of Biofourmis’ innovative virtual care solutions

Dr. Omar Ishrak Appointed Biofourmis Chairman

April 26, 2022

Biofourmis, a global leader in virtual care and digital medicine, today announced it has surpassed unicorn status with a $300 million Series D investment led by leading global growth equity firm General Atlantic. CVS Health (NYSE: CVS) and existing investors also participated in the round, which will help fuel the company’s next phase of growth. Biofourmis also announced that former Medtronic CEO and Chairperson at Intel, Dr. Omar Ishrak, will join the company’s Board of Directors as Chairman.

With this investment, Biofourmis plans to scale up its virtual care offerings. This includes delivering personalized and predictive in-home care to a growing number of acutely ill patients and expanding its recently announced virtual specialty care services, Biofourmis Care, to those patients with complex chronic conditions. In parallel, Biofourmis plans to fund clinical trials to advance the development of digital therapies that work in conjunction with high-value drugs to improve efficacy, while forming strategic partnerships with companies in the digital health and virtual-first care ecosystems. Through these relationships, Biofourmis plans to accelerate the growth of its virtual care platform, Care@Home, which enables providers and payors to remotely manage patients across the entire care continuum.

Biofourmis also aims to use the funding to continue strengthening its position in the value-based care market. Value-based care ties payments to quality of care and patient outcomes, rewarding providers for efficiency and effectiveness. According to McKinsey, $265 billion worth of care services for Medicare FFS and MA beneficiaries could shift from traditional facilities to the home by 2025, creating value for multiple parties, including care at home providers and technology companies.

Long touted as a technology that’s “going to break through tomorrow,” traditional remote patient monitoring (RPM) solutions have fallen drastically short of patient needs, often focusing on ‘monitoring’ as opposed to the proactive ‘management’ of patient populations. As a result, while clinical care teams glean information, they are typically left with few insights and almost no actionable clinical interventions. Because traditional RPM solutions tend to fail to view patients as unique subjects, alarm burden and fatigue are commonplace, as they focus on comparing a patient’s vitals to norms of the population at large and subsequently informing clinicians of warning signs. Furthermore, traditional solutions do not include licensed health professionals who can provide high-quality clinical care to improve patient outcomes and reduce the total cost of care.

Biofourmis solutions instead use a blend of passive inputs via continuous monitoring devices, active inputs from episodic monitoring devices, and patient feedback on activity driven through the Biofourmis app to get a complete picture of the patient’s status. Designed to be used at home, in acute, post-acute, and chronic care, Biofourmis’ game-changing solution compares the patient as they are today to their normal state. Leveraging its core expertise in data science and novel biomarkers, Biofourmis can detect clinical deterioration early on and offer dynamic care pathways that guide therapeutic interventions. The device- and sensor-agnostic solutions use artificial intelligence (AI) and advanced FDA-approved analytics to dynamically monitor patients, establish personalized baselines, and reduce false positives. Through its 24/7 virtual clinical care team, Biofourmis’ licensed health professionals can promptly confirm and respond to these alerts while communicating medication changes and updated care plans with primary care teams to ensure patient care is well coordinated.

“In recent years, we have seen a significant trend towards virtual at-home care, which has become a critical alternative to in-person care, particularly as digital adoption continues to accelerate,” said Sandeep Naik, Managing Director and Head of India & Southeast Asia at General Atlantic. “Biofourmis is tapping into this global trend with a new approach to remote care management.”

Robbert Vorhoff, Managing Director and Global Head of Healthcare at General Atlantic, added, “We believe Biofourmis is differentiated by technology solutions underpinned by its deep clinical research. Beyond providing key patient health insights to health systems, Biofourmis is also driving personalized treatment and better outcomes.”

Biofourmis app drives high patient engagement and compliance resulting in hospitals experiencing a 70% reduction in 30-day hospital readmissions and reduced the cost of care by 38%, all without impacting the quality of care.

“We are excited to partner with General Atlantic, which shares our vision for the future of virtual care and the urgency to bring the Biofourmis solution to customers and patients across the globe,” said Kuldeep Singh Rajput, Founder & Chief Executive Officer of Biofourmis. “We are also thrilled to have Dr. Ishrak join our board. His vast experience, which includes leading one of the world’s most successful medical technology companies, will be an incredible asset as we look to take our business to the next growth phase.”

“I’m thrilled to join Biofourmis as Chairman of the Board at this exciting time in the company’s rapid rise as a leading innovator in virtual care and digital medicine,” Dr. Ishrak said. “Biofourmis continues to push the boundaries as it evolves virtual care from reactive to predictive models that deliver continuous care and better health outcomes to patients while improving efficiencies and lowering costs for healthcare organizations. It’s a win-win that is a true differentiator in the market.”

To date, Biofourmis has raised a total of $445 million in funding. Existing investors include SoftBank Vision Fund 2, Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.

About Biofourmis

Biofourmis, based in Boston, is a global leader in providing advanced technology and clinical support for Care@Home and digital therapies. We are driven by a passion to personalize care and predict clinical worsening before it happens. Our clinically validated platform, powered by machine learning and advanced analytics, enables better healthcare, maximizes the effectiveness of high-value drugs, and lowers costs across the entire care continuum. For more information, visit www.biofourmis.com and follow us on LinkedIn, Twitter and YouTube.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Emily Japlon & Kate Huneke
General Atlantic media@generalatlantic.com

Tara Stultz
Amendola Communications for Biofourmis tstultz@acmarketingpr.com

Serena Tesler
The Harris Agency for Biofourmis serena@theharris.agency

Categories: News

Cinven Appoints Julia Kahr as Partner and Head of North America

Cinven

International private equity firm Cinven today announces that it has appointed Julia Kahr as a Partner and Head of North America.  Based in New York, Julia will lead and oversee Cinven’s operations in North America.

Julia was most recently a Senior Managing Director at Blackstone, which she joined in 2004, leading investments in the Healthcare and Industrials sectors. Her significant expertise in the Healthcare Private Equity market specifically includes investments in market-leading businesses within the pharma services, medical devices and life sciences sectors.

Julia joins Cinven’s U.S. team, which has been involved in a number of companies in the Healthcare and Technology, Media and Telecommunications (TMT) sectors and has also supported the U.S.-based acquisitions for several of Cinven’s European portfolio companies.  Recent Cinven investments include BioAgilytix, a global bioanalytical services business; Nitel, a technology services provider; Drake Software, a provider of software for tax preparers; National Seating & Mobility, a provider of complex rehabilitation mobility and accessibility solutions; and Jaggaer, a global provider of procurement software for large and medium-sized enterprises.

Alex Leslie, Partner, who previously moved to New York to lead Cinven’s capabilities in the region, will return to London in September 2022 and remain an integral member of Cinven’s leadership team.

Stuart McAlpine, Managing Partner at Cinven, commented:

“Julia brings a wealth of experience and knowledge, especially of the global Healthcare sector and in the U.S. private equity market.  Her investing track record coupled with her leadership experience position Julia well to build on the success of Cinven’s sector – country matrix and lead its efforts in the U.S. market.  We are delighted Julia is joining the Cinven team and partnership.

“Alex has successfully built Cinven’s presence and led Cinven’s engagement in Healthcare and TMT in the U.S., over the past six years. During that time, he has built a talented Investment team that includes expertise across Capital Markets, Portfolio operational support and Investor Relations.”

Alex Leslie, Partner at Cinven, added:

“It has been a great privilege to establish Cinven’s business in North America and build its capabilities in the region over the last six years, especially in putting together such a talented and motivated team. It is pleasing to see those efforts start to deliver results, with a number of exciting Healthcare

and TMT investments. I am delighted to welcome Julia to Cinven and am thrilled to have found such a perfect successor to take the business on and lead the team in the next stage of growth.”

Commenting on her appointment, Julia Kahr, Partner and Head of North America at Cinven, said:

“I am excited to have the opportunity to join one of the oldest and most established European private equity firms with a truly unique culture and approach and lead its North American operations.

“Cinven’s investment strategy is differentiated by its culture and its sector / country / functional matrix.  Cinven’s success is underpinned by more than 40 years’ experience of investing internationally, specifically in the Healthcare and TMT sectors. I have been enormously impressed by the culture and the calibre of the Cinven team. Alex has done an excellent job leading Cinven’s U.S. team over the last six years, and I look forward to working with him and the rest of the team in building on their success.”

Categories: People

Coexya, a company supported by Argos Wityu, is to acquire Aquilab.

argos wityu

The acquisition will enable Coexya to strengthen its leadership position in healthcare and more specifically in oncology.

Lyon (France), 25 April 2022 – Coexya, an independent digital leader in consulting, integration and software development, is to acquire Aquilab, a software company specialised in healthcare. The transaction will be a strategic merger of the two companies, enabling them to pursue their development.

Based in northern France, Aquilab has been a recognised software provider in the field of oncology for more than 20 years. Aquilab’s range of software and services improves the quality of treatment:
• Artiscan ensures the quality of imaging and radiotherapy equipment.
• Artiview improves the preparation and evaluation of radiotherapy treatment.
• Onco Place, evaluates and identifies new therapeutic strategies for its 3,300 users through the analysis of its clinical study database.

Both companies are strong in healthcare and oncology data. The merger will take advantage of their complementary nature and enable them to create multi-centric clinical studies. Coexya will use its Consore solution to create cohorts of patients, while Aquilab will use Onco Place to manage clinical studies.

Coexya will be able to share its expertise with Aquilab’s 350 European customers, and Aquilab will be able to accelerate its product development thanks to Coexya’s recognised expertise in data processing and artificial intelligence.

Formerly the French arm of the Sword group, Coexya was acquired by Argos Wityu in 2021, and has since then implemented an acquisition strategy to develop its product division and its international presence.

Healthcare accounts for 15% of Coexya’s activities. The company provides the sector with its OdyCare software and its integration services. Coexya understands the challenges its customers face and supports them in their digital transition. Their appropriate, ergonomic solutions make it easier to offer coordinated care, to guide patients and get more value from its patient data.

Philippe le Calvé, CEO of Coexya, said, “I am particularly pleased that Coexya is acquiring Aquilab, a company active in the healthcare sector. Our customers will be able to take advantage of an expanded range of services in France and abroad. We are delighted to welcome Aquilab’s employees into our group through a transaction that will also enable us to develop in the region of Lille.

David Gibon, Aquilab’s chief executive, said, “For more than 20 years, we have been providing innovative products devoted to improving the quality of cancer treatment. The merger with Coexya will enable us to strengthen our expertise in data and AI so as to step up our development in predictive medicine. Aquilab and Coexya have customers in common and share the same values. By leveraging these synergies, we will be able to propose new solutions and provide better treatment to people suffering from cancer.”

Karel Kroupa, Argos Wityu Managing Partner, added, “The merger between Aquilab and Coexya is right in line with the group’s business development strategy, as employed by Philippe Le Calvé and his team. Coexya will now be able to use the expertise of the two companies to offer complementary services to its customers.”

Argos Wityu team: Karel Kroupa, Simon Guichard, Afif Chebaro

Argos Wityu

Coralie Cornet
Head of Communications
ccc@argos.fund
+33 6 14 38 33 37

Coexya

Carine Groz
Director of Communications
carine.groz@coexya.eu
+33 6 14 01 15 58

About Argos Wityu / www.argos.wityu.fund Argos Wityu is an independent European investment fund that supports companies in the transfer of business ownership. It has assisted more than 80 entrepreneurs, focusing its investment strategy on complex transactions with emphasis on transformation, growth, and close collaboration with management teams. Argos Wityu seeks to acquire majority interests and invest between €10m and €100m with each transaction. With more than €1bn under management and 30 years of experience, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan and Paris.

About Coexya / www.coexya.eu
Coexya has more than 20 years of experience in consulting, integration and software development and is specialised in digital transformation. In 2020, Coexya changed shareholders and with the support of its executives, operational managers and the European investment fund Argos Wityu, became independent of the Sword Group. Coexya’s mission is to support organisations by developing solutions that address the new ways employees and customers use data. Coexya is active in six areas of expertise: customer experience, digital content, health, legal, location intelligence and smart data.
The group serves more than 370 clients and generated turnover of nearly €70m in 2021. Coexya has more than 700 employees based in Brest, Lyon, Paris and Rennes.

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KKR Closes $19 Billion North America Private Equity Fund

KKR

Fund to Implement Shared Ownership Program in Majority-Owned Investments

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR North America Fund XIII (“NAX3” or the “Fund”), an over-subscribed $19 billion fund focused on pursuing opportunistic private equity investments in North America. KKR will be investing $2.0 billion of capital in the Fund alongside investors through the Firm’s balance sheet, affiliates, and employee commitments.

“We are thrilled to have had such strong receptivity to our fundraising effort, and we are extremely proud of the results we’ve been able to deliver for our investors,” said Pete Stavros and Nate Taylor, Co-Heads of the Americas Private Equity platform at KKR. “Particularly at a time of continued volatility, we believe we are entering a macroeconomic environment that is tailor-made for private equity and for KKR specifically, and are grateful to have the support of our investors and their confidence in our team. We look forward to continue executing on our investment approach, which is centered on leveraging our deep industry expertise and driving holistic operational transformations utilizing the full suite of resources KKR has to offer. We are excited about the early momentum for NAX3 and remain laser focused on delivering outstanding results.”

KKR has a more than 45 year track record investing in North America. Over the past decade and across NAX3’s two predecessor funds, KKR North America Fund XI and KKR Americas XII Fund, KKR has delivered an average gross IRR of 30.1% (25.1% net) and a gross multiple on invested capital of 2.6x (2.2x net). In comparison to the S&P 500, this has resulted in net outperformance of more than 850bps, against the backdrop of near-unprecedented performance of the index over that decade. KKR Americas XII Fund, which began investing in 2017, is now fully deployed. It has generated a gross IRR of 50.1% (41.9% net), with a gross multiple of 2.6x (net 2.2x), as of December 31, 2021. With the closing of NAX3, KKR’s Americas Private Equity platform has more than $90 billion in assets under management across flagship, growth and core investment vehicles.

“Thanks to the strength of our Americas Private Equity investment team and extensive collaboration across our Firm, we are pleased to have been able to deliver consistent and attractive risk adjusted returns to our investors, even in the face of a global pandemic,” said Alisa Amarosa Wood, Global Head of Private Markets and Real Assets Product Strategies at KKR. “With this closing of KKR’s largest fund in our history, we are excited by our investors’ shared enthusiasm for the investment opportunities we continue to see ahead.”

NAX3 received strong support from a diverse group of both new and existing investors globally, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, private wealth platforms, family offices, high-net-worth individual investors and other institutional investors.

The Fund intends to implement KKR’s broad-based employee ownership program at majority-owned companies in which it invests. Since 2011, KKR has focused on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. The firm is committed to deploying the model in all control investments across its entire Americas Private Equity platform. To date, KKR has awarded billions of total equity value to over 45,000 non-senior employees across over 25 companies.

Earlier this month, KKR joined more than 60 organizations in becoming a founding partner of Ownership Works, a nonprofit created to support public and private companies transitioning to shared ownership models.

Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

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 and on Twitter @KKR_Co.

Media:
Cara Major
212-750-8300
media@kkr.com

Source: KKR

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