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o9 Solutions Raises $295 Million From Strategic Investors to Continue its Growth Across Industry Verticals & Markets

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General Atlantic, Its BeyondNetZero Venture, and Generation Investment Management Join KKR as Investors in o9, Valuing the Company at $2.7 Billion

DALLAS–(BUSINESS WIRE)–o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making speed and quality in companies across industry verticals, today announced that it has received equity investments totaling $295 million from General Atlantic, including BeyondNetZero, its climate investing venture, Generation Investment Management, a pure-play sustainability investment manager, and existing investor KKR. This significant investment will help o9 build on its momentum and accelerate growth for its AI-powered Integrated Business Planning platform it calls the “Digital Brain” across industry verticals and markets. It will also help o9 drive continued innovation in R&D, industry knowledge models and partner ecosystem development that will help companies implement o9’s game-changing platform faster and realize greater value.

Today, leading companies across varied industry verticals that include retail, consumer and industrial products manufacturing, high-tech and semiconductor, life sciences, automotive, telecom, and oil and gas leverage o9’s Digital Brain platform for transforming their supply chain, commercial and integrated business planning capabilities. These companies are using o9’s Digital Brain platform to build a live, digital model of enterprise data and knowledge that helps them detect demand and supply risks and opportunities, forecast demand more accurately, and evaluate what-if scenarios all in real time. By matching demand and supply intelligently and driving greater alignment and collaboration between customers, internal stakeholders and suppliers across the integrated supply chain, clients can realize significant value from their commercial plans and decisions while making measurable positive impact to the environment.

“We have an unprecedented opportunity in front of us,” said Chakri Gottemukkala, Co-founder and CEO of o9. “Demand and supply volatility and complexity has been growing and the pandemic has only accelerated the challenges companies face in meeting customer service and financial goals. At the same time, there is significant pressure on boards and executives from customers and employees to also drive meaningful improvements in sustainability goals. And we believe that o9 is poised perfectly to help companies deal with these mega trends with a differentiated, proven platform.

“Executives are increasingly seeing that transforming planning and decision-making capabilities need to be more agile, and integration is the most mission critical, high-value initiative going forward. And because global supply chains are the majority source of environmental impact, we believe transforming planning is key not just for improving P&Ls, but also the health of the planet. The new investments and strategic partnerships with General Atlantic, BeyondNetZero and Generation Investment Management, along with our established strategic partnership with KKR, will help us accelerate this sacred mission of making the o9 Digital Brain the most value-creating enterprise platform.”

General Atlantic, its BeyondNetZero venture and Generation Investment Management join KKR as investors in o9, valuing the company at $2.7 billion. This marks an increase from the $1 billion valuation in April 2020 at the time of the company’s first-ever external investment led by KKR, which is also participating in this funding round. This capital raise follows a record year during which the company reported a greater than threefold increase year-over-year in annual recurring revenue (ARR) from new customers.

“Not only is an agile, intelligent and resilient supply chain one of the most important growth accelerators, it also inherently leads to a reduced carbon footprint – especially for organizations that operate on a global scale,” said Sanjiv Sidhu, Chairman and Co-Founder, o9. “A sustainable supply chain requires companies to digitally transform their planning and decision-making capabilities. o9’s Digital Brain platform makes us the partner of choice for companies across the world and we are pleased and honored that General Atlantic, BeyondNetZero and Generation Investment Management recognize this at such a pivotal phase of our growth trajectory.”

“We believe that o9 is uniquely positioned at the intersection of technology, supply chain, and sustainability,” said Tanzeen Syed, Managing Director, General Atlantic. “The business fits squarely within our theses at General Atlantic and BeyondNetZero to support companies that are leveraging innovation to tackle some of the most pressing issues in the world. o9 helps large organizations transform their costly, complex and resource-intensive supply chains into profitable and environmentally sound models – playing a critical role in enabling them to work toward net zero targets.”

Joy Tuffield, Partner in the Growth Equity strategy at Generation Investment Management, said, “Generation’s brand is predicated on the belief that long-term commercial opportunity is synonymous with sustainable outcomes. We believe the best businesses stand for something significant. Sustainability and supply chain issues have never been more important. o9 is one of the rare companies that we believe can help global enterprises leverage the power of digital technologies to deliver on both imperatives. We are excited by the commitment of o9 to be an enduring company with a positive influence on the world, in both what the company does and how it operates.”

To learn more, contact o9 here.

About o9 Solutions, Inc.

o9 offers a leading AI-powered Planning, Analytics & Data platform called the Digital Brain that helps companies across industry verticals transform traditionally slow and siloed planning into smart, integrated and intelligent planning and decision making across core supply chain, commercial and P&L functions.

With o9’s Digital Brain platform, companies are able to achieve game-changing improvements in quality of data, ability to detect demand and supply risks and opportunities earlier, forecast demand more accurately, evaluate what-if scenarios in real time, match demand and supply intelligently and drive alignment and collaboration across customers, internal stakeholders and suppliers around the integrated supply chain and commercial plans and decisions. Supported by a global ecosystem of partners, o9’s innovative delivery methodology helps companies achieve quick impact in customer service, inventory levels, resource utilization, as well as ESG and financial KPIs—while enabling a long-term, sustainable transformation of their end-to-end planning and decision-making capabilities. For more information, please visit www.o9solutions.com.

About BeyondNetZero, the Climate Investing Venture of General Atlantic

The BeyondNetZero team seeks to invest in growth companies delivering innovative climate solutions and aims to help them achieve scale. BeyondNetZero looks to identify companies that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. BeyondNetZero combines General Atlantic’s growth equity experience with a global team of proven climate investors, advisors and industry executives, including Lord Browne of Madingley, who serves as Chairman of BeyondNetZero. This diverse team of experts brings decades of experience in both addressing climate-focused problems and building pioneering growth companies. For more information on BeyondNetZero, please visit the website: https://beyond-net-zero.com.

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 $86 billion in assets under management inclusive of all products as of September 30, 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 and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Generation Investment Management

Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a U.S. office in San Francisco. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority. www.generationim.com.

Contacts

Jenni Ottum
Sr. PR Manager
480-231-4887
jennifer.ottum@o9solutions.com

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Renta Corporación to develop last-mile logistics asset in Barcelona for KKR-Mirastar

KKR
  • The asset, located in Barcelona’s first logistics ring, has a surface area of 10,000 square meters
  • This is the first investment in Spain made by the KKR-Mirastar logistics platform
  •  The project seeks to comply with the most advanced certifications on environmental sustainability and energy efficiency

 

London/Barcelona, 25 January, 2022. Renta Corporación has begun the development of a last-mile logistics asset with a surface area of 10,000 square metres in Ripollet (Barcelona). This is a turnkey project that Renta Corporación will carry out for Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, and is expected to be delivered in the third quarter of 2023. The sale values the logistics asset at just over 13 million euros.

The project represents a new commitment by Renta Corporación to environmental sustainability and energy efficiency. The development will target attaining both an “Excellent” rating for the BREEAM sustainable building certificate and an “A” rating for the Energy Efficiency Certificate.

The deal is the first in Spain for Mirastar, which is also actively investing and developing projects in other European countries such as the United Kingdom, the Netherlands and Italy. The company is also looking to expand into new markets in 2022. The investment is being made through KKR’s second European real estate fund, Real Estate Partners Europe II.

 

Strategic location

Situated in Barcelona’s first logistics and industrial ring, the asset is located in the town of Ripollet. This is a strategic hub within the Barcelona metropolitan area, which is perfectly connected to the main transport routes in the area and located within a conurbation of more than 5 million people, which allows for great capillarity and efficiency for a last-mile asset.

 

Anthony Butler, CIO & Co-Founder of Mirastar, said: “Mirastar has been committed to investing and developing in Spain since we launched. We look forward to completion of this well-positioned scheme, with strong ESG credentials, in a supply constrained sub-market and to add to our strong pipeline of opportunities.”

 

Diederik Schol, Principal in EMEA Real Estate at KKR, said: “We are pleased that we have been able to expand the platform into Spain as we continue to invest in quality logistics assets across Europe. This acquisition is a high-quality last-mile asset in an undersupplied market, and fits perfectly with our strategy of working with best-in-class local developers.”

 

Luis Guardia, director of Commercial Assets at Renta Corporación, said: “Logistically, the asset is very well located, which allows for efficient links between the hub and the rest of Spain and Europe. In recent years, the Barcelona metropolitan area has become an attractive market for logistics land due to high demand, limited supply and high occupancy rates. For Renta Corporación, this is a new commitment to the logistics sector, in which significant deals have been made in recent years”.

Renta Corporación was advised by the real estate consulting firm Savills Aguirre Newman, while Mirastar was advised by Garrigues, Savills Aguirre Newman and Nova Ambiente on the legal, technical and environmental aspects, respectively.

 

About Renta Corporación

Renta Corporación is a listed real estate company with a differential business model based on the creation of value through the acquisition of real estate assets for their transformation and adaptation to the needs of the market, for subsequent sale to third parties. The real estate company focusses its business on the Madrid and Barcelona markets, the two markets with the most liquidity and activity in Spain. The company complements its business model through its property business, managing real estate assets of different types, both its own and those of investee companies, mainly Vivenio, which generates recurring income for the company.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

 

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CVC Co-Founder Steve Koltes to step back in 2022

CVC Capital Partners

CVC Capital Partners (“CVC”) today announced that Steve Koltes, Co-founder and Co-Chair, will be stepping down from an active role effective October 1st, 2022, to focus on his private interests. He will remain on CVC’s Board of Directors in a non-executive capacity, and the business will continue to be managed by CVC’s board and the Managing Partners of the firm.

Steve joined CVC’s predecessor, Citicorp Venture Capital London, in 1988. In 1993, he and his colleagues including his fellow Co-Chairs Donald Mackenzie and Rolly van Rappard established CVC Capital Partners. Since then, CVC has grown into one of the world’s leading private equity and investment advisory firms with a network of 25 offices and approximately US$125 billion of assets under management across six private equity, secondary and credit strategies.

The CVC  Board said: “In all his years with the firm Steve has been a tower of both wisdom and determination and will be missed by all of us. He leaves CVC as a world-leading investment firm with a superb team and a wealth of opportunities for further growth.”

Donald Mackenzie, Co-Founder and Co-Chair of CVC, said: “Steve and I have been good friends, business partners and fellow deal-makers from the very earliest days of CVC. I will greatly miss his balance and his stewardship of the culture of CVC, and I know that everyone in CVC feels the same.”

Rolly van Rappard, Co-Founder and Co-Chair of CVC, added: “Steve is my close friend and collaborator both inside CVC and on a personal level. Over our 34 years of shared history, my colleagues and I always turned to him as a voice of conscience for the firm. He has chosen to move on with the business in its best condition ever. While his decision is understandable, there is no doubt that we all will miss him very much.”

Steve Koltes, Co-Founder and Co-Chair of CVC, commented: “CVC outgrew a dependence on any single individual or group of individuals long ago. The firm attracts, motivates and energises a collection of talent second to none. For everything I can do well, there are dozens in the firm who can do it better. After 34 glorious years with this very special place, that’s the best sign that my job is done.”

Categories: People

CVC Asia V agrees acquisition of Affin Hwang AM

CVC Capital Partners

CVC signals strong confidence in Malaysia through landmark investment in leading asset management company

Affin Banking Group (“Affin Group”) has agreed to transfer its controlling stake in Affin Hwang Asset Management Berhad (“Affin Hwang AM”) to CVC Capital Partners Asia Fund V. This transaction is expected to be completed in Q3 2022, subject to customary closing conditions, including regulatory approvals.

Since its inception in 2001, Affin Hwang AM has grown to become one of Malaysia’s leading asset management firms with a diverse client base of public and private companies, institutions, pension funds, and individual investors. As at 31 December 2021, Affin Hwang AM as well as its wholly-owned Islamic fund management arm AIIMAN Asset Management, have a combined RM81 billion in assets under administration.

Datuk Wan Razly Abdullah, President and Group Chief Executive Officer of Affin Bank, said, “We are pleased to see the entry of CVC, a global private equity player, into a home-grown asset management house which is testament to the confidence in the growth prospects of the financial services sector and the Malaysian economy as a whole. With the continuation of the management of Affin Hwang AM helmed by Dato’ Teng Chee Wai and the institutional shareholding presence of Nikko Asset Management (“Nikko AM”), we believe that the business of Affin Hwang AM will continue to perform well moving forward and are confident that CVC, Affin Hwang AM management and together with Nikko AM are committed to support Affin Hwang AM’s growth, its superior long-term commitment to deliver value to clients and further develop its talented employees.”

Dato’ Teng Chee Wai, Managing Director of Affin Hwang AM, commented, “We are excited to work with CVC, together with our longstanding partner, Nikko AM, to chart the course for Affin Hwang AM’s next phase of growth and to advance the development of the Malaysian capital markets. The entry of CVC, a leading global private equity and investment advisory firm comes at the right time as we continue to broaden our suite of product offerings to cater to the growing needs of our clients and partners. We remain deeply committed to helping our clients build their wealth, and we look forward to partnering with CVC and Nikko AM to drive our commitment to our valued clients.”

Alvin Lim, Senior Managing Director at CVC, added, “This marks our sixth investment in Malaysia since 2007, bringing our total capital invested to over US$1 billion. We remain confident in the strong economic fundamentals of the country, and believe this investment is an important opportunity for us to contribute to the continued development of Malaysia’s asset management industry and capital markets, as well as to grow Malaysia into the region’s leading asset management hub. We are particularly excited to partner with Affin Hwang AM’s talented management team, who has shown a track record of outperformance, and Nikko AM, who will remain as a strategic shareholder. We look forward to supporting the management team in expanding the investment and product capabilities and entering other ASEAN markets, by leveraging on our experiences and network across the region.”

Eleanor Seet, President of Nikko Asset Management Asia Limited and Head of Asia-ex Japan of Nikko AM, opined, “Our commitment to the region and our clients in Malaysia remains steadfast. We are delighted to continue our long-term partnership with the AHAM management team and welcome CVC. We believe the synergy of the new partnership will continue to strengthen the growth trajectory of Affin Hwang AM and enhance our ability to deliver progressive solutions to valued clients.”

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EQT Exeter strengthens footprint in Asia – adds logistics real estate specialists in Japan and Korea

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EQT AB (publ) is pleased to announce that Bear Logi, a value-add logistics investment manager headquartered in Tokyo, Japan, and Seoul, Korea, will join EQT Exeter to further strengthen its footprint in Asia.

Bear Logi, founded in Tokyo, Japan in 2009, is a value-add logistics investment manager with around 25 employees focused on acquisitions, development, construction and leasing, with extensive knowledge of the Japanese and Korean logistics markets. To date, Bear Logi has invested capital based on single asset funding, and will as part of EQT Exeter create a fund-setup within logistics properties similar to EQT Exeter’s existing structure in the US and Europe.

The Bear Logi team, including its co-CEOs Matthew Zann and James Muir will, together with EQT Exeter’s China Logistics team, create an EQT Exeter APAC Logistics platform. The ambition is to build on existing strategies of acquiring and developing logistics properties in Tier 1 cities and logistic hubs across Japan, Korea and China.

Strategic rationale

  • Bear Logi’s skilled team, with deep local market knowledge and relationships, will provide EQT Exeter with direct access to the attractive logistics markets in Japan and Korea, with strong scalability potential in the broader APAC region, for example, Australia
  • Bear Logi will leverage EQT Exeter’s global track record and 1,200+ strong tenant relationships, as well as EQT’s 2,000+ corporate relationships and broader platform, including fundraising support, sustainability and digitalization expertise, and operating platform benefits
  • The combination with EQT Exeter’s existing operations in China will provide larger investment opportunities, with an integrated development and investor operating platform, in APAC logistics for EQT’s fund investors
  • EQT Exeter and Bear Logi have a strong cultural fit and similar investment philosophies, focused on vertically integrated real estate investments and a commitment to sustainability and ESG principles

Ward Fitzgerald, Partner and Head of EQT Exeter, said, “We are thrilled to welcome Matthew, James and the rest of the Bear Logi team to the EQT Exeter family, as we continue to expand our logistics real estate platform in the APAC region. With their complementary local market knowledge and expansive industry relationships, our combination with Bear Logi is the next step in EQT Exeter’s journey, strengthening our position as a multi-strategy, global real estate leader.”

Matthew Zann, co-CEO of Bear Logi, said, “We are excited to join forces with Ward, EQT Exeter, and the broader EQT platform to further build out the APAC logistics platform. The partnership will create new growth opportunities in the region as we leverage our local insights and relationships and combine it with EQT Exeter’s global expertise within logistics real estate.”

James Muir, co-CEO of Bear Logi, added, “The partnership with EQT Exeter not only accelerates our opportunities, but also strengthens our operating platform and ability to offer a broader set of clients access to the growing APAC logistics market.”

Bear Logi is estimated to generate approximately USD 1 million in revenues during 2021. The transaction is not deemed to have a material impact on EQT AB’s financial numbers and will not add any assets under management to EQT AB at closing. Closing took place on 27 January 2022.

Disclaimer
This press release contains forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward- looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond EQT’s control, which may cause actual results to differ significantly from those expressed in any forward- looking statement. All forward-looking statements reflect EQT’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, EQT disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

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 delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has EUR 73.4 billion in assets under management across 28 active funds 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 24 countries across Europe, Asia-Pacific and the Americas and approximately 1,200 employees.

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

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group. 

The EQT Exeter Team comprises more than 300 experienced professionals operating in close to 40 regional offices around the globe. Collectively they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 600 industry advisors across the globe as well as EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

About Bear Logi
Bear Logi is an industrial property firm based in Tokyo and Seoul with a track record of delivering quality real estate solutions in Japan and Korea. Bear Logi provides real estate investment advice, property due diligence and full design, project and construction management services for industrial property projects.

The Bear Logi team comprises 25 employees operating in Japan and South Korea. The group has consulted and co-invested to build large multi-tenant and infill properties as well as last mile distribution centers to primarily serve the needs of growing e-commerce tenants.

More info: www.bearlogi.com

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EQT Future strengthens its Mission Board with global impact experts

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EQT Future is proud to announce the appointment of three high-caliber business executives with strong impact expertise to its Mission Board. The purpose of EQT Future’s Mission Board is to provide external objectivity to the fund’s strategic direction and set the bar high for its commitment to drive positive impact. The Mission Board will be a close sparring partner to EQT Future’s Investment Advisory Team and will challenge and support them throughout the fund’s investment processes

The individuals joining the Mission Board are Ho Ching, recently retired CEO of Temasek; Naina Lal Kidwai, former Country Head of HSBC India; and Svein Tore Holsether, President and CEO of Yara International. Hedda Pahlson-Moller, Co-founder and CEO of TIIME.org has been appointed Impact Director and will be responsible for coordination of the Mission Board and the development of the EQT Future fund’s impact objectives.

The new members, each of whom bring a wealth of experience from heading global corporations and NGOs, are joined by the Mission Board’s previously announced co-chairs Paul Polman, former CEO of Unilever, UN Sustainability Ambassador, and co-founder of IMAGINE, and Jacob Wallenberg, Chairperson of Investor AB and vice Chairperson of ABB and Ericsson.

EQT Future was launched in October 2021 with the ambition to elevate EQT’s platform-wide commitment to making a positive impact. The fund’s impact-driven strategy is built on three decades of future-proofing companies and it applies EQT’s active ownership model to accelerate sustainable transformation of companies while creating attractive risk adjusted returns.

New appointments

  • Ho Ching, board member. Ho is the former CEO of Temasek and is regarded highly for having transformed Temasek from a Singapore-focused firm into a leading global investment organization. In 2007, TIME Magazine named Ho as one of the “100 most influential men and women who shaped the world”, and Forbes ranked her third on its annual list of the world’s most powerful women. Ho is the the designated Chairperson of Temasek Trust, a philanthropic asset manager, and she also supports numerous community service and charitable organizations within education, healthcare and the welfare and development of children. Ho is a Singaporean native.
  • Naina Lal Kidwai, board member. Naina is the former Country Head of HSBC India, Executive Director on the board of HSBC Asia Pacific, and Head of Investment Banking at Morgan Stanley India. She served as Non-Executive Director of Nestlé’s board for 12 years until 2018. In 2015, she founded the NGO India Sanitation Coalition, which focuses on behavioral change to promote clean habits, starting with educating school children about safe sanitation and hygiene practices. Naina is also a board member and member of the Health, Safety & Sustainability Committee of Holcim. She was the first Indian woman to graduate from Harvard Business School and today she serves as a Global Advisor to the university. Naina is an Indian native.
  • Svein Tore Holsether, board member. Svein Tore is the President and CEO of Yara International, the world’s leading fertilizer company and a provider of environmental solutions. He was in 2021 elected as the President of the Confederation of Norwegian Enterprise (NHO). Svein Tore is a passionate promoter of the SDGs and is a Board member of the World Business Council for Sustainable Development (WBCSD) and former Chairperson of the Food & Nature program for WBCSD. He is a member of the Alliance of CEO Climate Leaders at the World Economic Forum, and also serves as the Chair of the International Fertilizer Association (IFA). Svein Tore serves as commissioner or board member in multiple international SDG-related organizations and working groups, including being a co-founder of Generation Africa. Svein Tore is a Norwegian native.
  • Hedda Pahlson-Moller, Impact Director. Hedda is the Co-founder and CEO of TIIME.org, an advocacy, advisory and education provider focused on impact investing, sustainability and diversity. Hedda serves as an advisor within sustainable development and sustainable finance to the Government of Luxembourg. She is also an adjunct Professor of Impact Economy and Social Entrepreneurship at Sacred Heart University, and serves as an independent Board Director to family offices, private and public equity funds that steer their capital to positive impact. Hedda is a Swedish-Canadian, and resident in Luxembourg.

Paul Polman, Co-chair of the EQT Future Mission Board, said, “We are at a crossroads where the cost of inaction will be higher than the cost of action, and companies must ask themselves which path they will take. To me, EQT has clearly chosen its route. By placing impact at the focal point of all investment decisions, EQT Future is leveraging the power of private equity to support businesses that can accelerate transformational change for the benefit of the environment and society at large. As co-chair of EQT Future’s Mission Board, I am very excited to be joined by our new members who all share this mindset and are committed to help solve societal challenges.”

Anders Misund, Partner and Head of EQT Future, said, “We are honoured to welcome such seasoned executives to join EQT Future’s Mission Board. Their collective experience from leading multinational corporations and ESG-oriented NGOs is highly complementary and will empower the EQT Future fund in making more conscious and impactful investment decisions.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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Gimv acquires GSDI Group, the European leader in surface treatment and adhesive film application, to support its next stage of growth

GIMV
Topic: Investment

Gimv acquires a majority stake in GSDI Group, alongside its founder and management team, in order to support its growth in the French and international rail market and to accelerate its development in new application segments.

Founded nearly 30 years ago by its current CEO, Jacques Coueffé, GSDI (Massy – FR, www.gsdi.fr ) specialises in the surface treatment and installation of technical adhesive films. The Group offers complete solutions for renovation, thermal comfort, protection and decoration to its customers, who are present in the railway, building and food sectors. GSDI relies on the largest installation force in Europe with 160 applicators, all trained internally in its approved training center. The Group, which benefits from structural environmental trends, such as the development of rail transport and the energy transition in buildings, has a turnover of more than 30 million euros.

The Group has a recognised know-how in the railway sector, where it has developed strongly in the recent years thanks to its unique and reputable technical expertise in the application of films, and its ability to manage large and complex projects. This has enabled GSDI to support its customers abroad by opening subsidiaries in Spain, South Africa and Poland.

Gimv’s investment into GSDI’s capital, alongside Jacques Coueffé, who remains an important shareholder, and the management team, will enable the Group to support its growth ambitions in the railway market, both in France and internationally, and to accelerate its development in new high-growth segments. GSDI plans to expand its presence in the building sector, with the installation of thermal films to improve the energy performance of existing buildings, and applications to  improve hygiene and safety in the food industry. Throughout this primary LBO, Gimv will also support the structuring of the GSDI Group.

Jacques Coueffé, CEO of GSDI, says: “I am very happy with the arrival of Gimv, which my team and I found to be the ideal partner to enable GSDI to accelerate its growth and strengthen its organisation. The real understanding we quickly established between us, and the desire to work together, were key elements in our choice. Gimv also demonstrated a thorough understanding of our challenges and how to meet them, as well as a real know-how in B2B services. We are therefore looking forward to this partnership.”

Nicolas de Saint Laon, Head of Gimv France, and Maxence Kasper, Principal at Gimv, declare: “We are delighted to be able to support the entire GSDI management team in this new phase. The company benefits from unique assets to pursue its growth in the railway market, where it is already a reference, and to strongly accelerate its growth in new segments. This primary transaction fits perfectly with our Sustainable Cities sector investment platform, supporting the transformation of a group benefiting from structural environmental trends, such as the development of rail transport and the energy transition in buildings. Our expertise in BtoB services will also allow us to support the structuring of GSDI in France and internationally.”

Read the full press release:

English – French – Dutch
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium

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KKR Names Todd Builione Global Head of Private Wealth

KKR

Augments commitment to expanding access to KKR’s investment strategies for individual investors

NEW YORK–(BUSINESS WIRE)– KKR today announced the appointment of Todd Builione as Global Head of Private Wealth. In this newly created role, Mr. Builione will oversee the firm’s strategic priority of building its private wealth distribution platform to expand access to KKR’s alternative investment strategies for individual investors globally.

As Global Head of Private Wealth, Mr. Builione will oversee KKR’s regional private wealth leads Dan Parant and Doug Krupa in the United States, Markus Egloff in APAC and Mark Tucker in EMEA, as well as the newly created Global Private Wealth Product Strategies effort led by Mr. Krupa. KKR’s private wealth team is an integral part of the firm’s Client & Partner Group, led by Eric Mogelof, and focuses on building high-quality, democratized investment solutions to meet the needs of individual investors, as well as growing the firm’s relationships with leading wirehouses, private banks, independent/regional broker-dealers, registered investment advisers (RIAs) and fintech platforms. The appointment reinforces KKR’s commitment to serving the approximately $175 trillion global private wealth market by delivering customized products and increased access to KKR’s investment strategies.i

Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR, said: “Over the past decade, Todd has led a number of KKR’s important business priorities, including launching our strategic partnership with Marshall Wace and being instrumental in the growth of our Credit and Capital Markets businesses. We believe the addition of a senior leader with a global focus will be additive to the success of our global private wealth effort, a critical component of our growth strategy and a big opportunity for the firm.”

KKR currently manages approximately $50 billion in private wealth assets through relationships with distribution partners and a large network of Financial Advisors and RIAs. In recent years, between 10 and 20 percent of new capital raised annually by KKR has come from private wealth. This is expected to grow to 30 to 50 percent of annual fundraising over the next several years, driven by investments the firm is making across sales and marketing, distribution, technology, product creation and education, as well as the continuation of KKR’s long history of investment success. Today, KKR’s private equity, credit and real estate investment strategies are accessible for individual investors through a suite of KKR-sponsored and third-party continuously offered registered funds.

“The combination of a low yield environment, new technology and innovative investment structures is creating an inflection point in the industry and we see individual investors poised to significantly increase their allocations to alternatives in the coming years,” said Eric Mogelof, Global Head of KKR’s Client & Partner Group. “Todd’s extensive knowledge of KKR’s investment strategies and embodiment of our culture make him the ideal partner to lead our global private wealth effort, ensuring that all of our investors continue to receive the best of what KKR has to offer.”

Todd Builione joined KKR in 2013 and is a Partner who most recently served as President of KKR Credit and Markets. In this role, he helped lead the development of the firm’s credit business and capital markets franchise. He also serves on the firm’s Distribution Heads Committee, Risk & Operations Committee and Inclusion & Diversity Council. Mr. Builione serves on the Board of Directors of Marshall Wace, a liquid alternatives provider in which KKR is a strategic partner, and the Board of Directors of FS KKR Capital Corp., a business development company which trades on the NYSE. Prior to joining KKR, Mr. Builione served as President of Highbridge Capital Management and CEO of Highbridge’s hedge fund business.

“I am excited to be a part of our global team focused on making KKR’s investment strategies available to a broader group of investors,” Mr. Builione said. “Alternative investments are an important part of a diversified portfolio and individual investors have historically been under allocated to private markets due to the structural barriers to entry. As we continue to build our private wealth platform we will continue to maintain the same commitment to thoughtful product development and exceptional client service that has been critical to KKR’s success for more than four decades.”

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 The 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.

i Source: PwC Asset & Wealth Management Revolution: Embracing Exponential Change

Media
Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

Categories: People

KKR Leads Series C Round in Philippine B2B Platform GrowSari with US$45 Million Investment

KKR

Transaction marks KKR’s latest technology investment in the merchant enablement space

Latest round to support GrowSari’s expansion and strengthen its financial services capabilities

MANILA, Philippines–(BUSINESS WIRE)– KKR, a leading global investment firm, and GrowSari (the “Company”), a B2B e-commerce platform serving micro, small and medium-sized enterprises (“MSMEs”) in the Philippines, today announced the signing of definitive agreements under which KKR will invest US$45 million to lead GrowSari’s Series C funding round. KKR’s investment in GrowSari will support the Company’s expansion into more regions across the Philippines and strengthen its financial services capabilities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125005949/en/

Founded in 2016, GrowSari is a leading tech-enabled B2B platform that helps the Philippines’ small physical retail stores, including neighborhood retail shops (sari-sari stores), roadside and market shops (carinderia), and pharmacies, enhance their service levels and access a wider range of products and value-adding services. This allows the stores to provide local communities with more comprehensive offerings, including digital services.

Today, GrowSari is present in 220 municipalities across the regions of Luzon and offers over a hundred types of different services including making bill payments, telco reloads, and wallet top-ups, as well as procurement services for common retail goods and pharmaceutical medicines. Strong tailwinds around digital adoption, proximity shopping, and economic growth in the Philippines have also contributed to a 6.5x increase in gross merchandise value for GrowSari since 2019 and a 2.5x increase in revenue over the same period. In 2021, the Singapore Venture Capital & Private Equity Association named GrowSari as ‘Venture Capital Deal of the Year.’

Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, said, “We are pleased to invest in GrowSari, an innovative company with tremendous potential to digitally transform the operations of Filipino MSMEs, who are crucial contributors to the country’s economy and a pillar of the business community. We are excited to support the GrowSari team to achieve their expansion ambitions.”

Speaking on the latest investment, Reymund ‘ER’ Rollan, CEO and Co-Founder of GrowSari, said, “We will be accelerating our presence nationally to more municipalities and cities in the Philippines. Our investments will be focused towards expanding in Visayas and Mindanao this 2022. This will bring us a step closer to our mission of creating a positive socio-economic impact to the lives of more MSME owners and the communities they serve. In addition, we are doubling down on our capabilities to improve the overall customer experience and look to expand our ability to provide sari-sari stores access to credit and basic financial services, which is a key pain point for MSMEs who have limited access. The industry, operational and financial expertise and network of KKR will be a great complement to the passion, dedication and strong culture of excellence that GrowSari has built over the years.”

Louis Casey, KKR’s growth technology lead in Southeast Asia, added, “GrowSari is aligned with one of our core technology investment themes in Southeast Asia, which is supporting MSMEs with software and financial services. Reymund and the team at GrowSari are excellent operators who have built an impressive flywheel that is powered by a number of proprietary applications. They have also built a very efficient and repeatable go-to-market motion that is underpinning their impressive growth. We look to leverage our global experience, regional connectivity and flexible capital to help GrowSari achieve its ambitious growth objectives.”

Prior to KKR’s investment, GrowSari had raised funding from global financial and strategic investors, including Temasek-affiliated Pavilion Capital, Tencent, the International Finance Corporation, the Gokongwei family-controlled JG Summit, Robinsons Retail Holdings Inc., Wavemaker Partners, Saison Capital, and the Investment & Capital Corporation of the Philippines.

The ongoing Series C round is significantly oversubscribed, having drawn keen interest from new and existing investors. The round’s final composition is currently being finalized.

KKR is making its investment in GrowSari from its Asia next generation technology strategy. GrowSari is KKR’s latest investment into companies that augment the digital transformation of MSMEs through software and financial technology. KKR’s global investments in the sector include KiotViet, a merchant platform for MSMEs in Vietnam, Yayoi, a software developer, distributor, and support service provider for small and medium-sized enterprises (“SMEs”) in Japan, MYOB, a leading Australian online business management company, NetStars, the operator of Japan’s largest QR code payment gateway, Qonto, a leading European business finance solution for freelances and SMEs in France, Cegid, one of the largest European providers of enterprise software headquartered in France, and Exact Software, a provider of business and accounting software in the Netherlands. Additional details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

About GrowSari

GrowSari started in 2016 as an ordering platform servicing roughly sari-sari stores in three cities. Today, GrowSari powers the management, growth, and analytics infrastructure across 220 municipalities and is now further expanding. In addition to providing credit and affordable, on-demand inventory, GrowSari’s platform also generates crucial data & insights into the operations of these stores for manufacturers and distributors to build their strategies and campaigns upon. GrowSari has also integrated multiple-microservices such as telco load, bills pay, e-commerce, Wi-Fi and other eservices, allowing store-owners to maximize their capital in one wallet and easily expand their business.

GrowSari is certified as a Great Place To Work® in the Philippines. The GrowSari leadership team is composed of young and dynamic industry leaders who built their expertise from working with global corporations and consultancies including P&G, Unilever, J&J, and Boston Consulting Group as well as Uber, Globe Telecom, and GCash.

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

For GrowSari:
Reynaldo Rubio
(+63) 9190733255
reynaldo.Rubio@growsari.com

Source: KKR

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o9 Solutions Raises $295 Million From Strategic Investors to Continue its Growth Across Industry Verticals & Markets

General Atlantic, Its BeyondNetZero Venture, and Generation Investment Management Join KKR as Investors in o9, Valuing the Company at $2.7 Billion

January 26, 2022

o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making speed and quality in companies across industry verticals, today announced that it has received equity investments totaling $295 million from General Atlantic, including BeyondNetZero, its climate investing venture, Generation Investment Management, a pure-play sustainability investment manager, and existing investor KKR. This significant investment will help o9 build on its momentum and accelerate growth for its AI-powered Integrated Business Planning platform it calls the “Digital Brain” across industry verticals and markets. It will also help o9 drive continued innovation in R&D, industry knowledge models and partner ecosystem development that will help companies implement o9’s game-changing platform faster and realize greater value.

Today, leading companies across varied industry verticals that include retail, consumer and industrial products manufacturing, high-tech and semiconductor, life sciences, automotive, telecom, and oil and gas leverage o9’s Digital Brain platform for transforming their supply chain, commercial and integrated business planning capabilities. These companies are using o9’s Digital Brain platform to build a live, digital model of enterprise data and knowledge that helps them detect demand and supply risks and opportunities, forecast demand more accurately, and evaluate what-if scenarios all in real time. By matching demand and supply intelligently and driving greater alignment and collaboration between customers, internal stakeholders and suppliers across the integrated supply chain, clients can realize significant value from their commercial plans and decisions while making measurable positive impact to the environment.

“We have an unprecedented opportunity in front of us,” said Chakri Gottemukkala, Co-founder and CEO of o9. “Demand and supply volatility and complexity has been growing and the pandemic has only accelerated the challenges companies face in meeting customer service and financial goals. At the same time, there is significant pressure on boards and executives from customers and employees to also drive meaningful improvements in sustainability goals. And we believe that o9 is poised perfectly to help companies deal with these mega trends with a differentiated, proven platform.

Executives are increasingly seeing that transforming planning and decision-making capabilities need to be more agile, and integration is the most mission critical, high-value initiative going forward. And because global supply chains are the majority source of environmental impact, we believe transforming planning is key not just for improving P&Ls, but also the health of the planet. The new investments and strategic partnerships with General Atlantic’s BeyondNetZero and Generation Investment Management, along with our established strategic partnership with KKR, will help us accelerate this sacred mission of making the o9 Digital Brain the most value-creating enterprise platform.”

General Atlantic’s BeyondNetZero and Generation Investment Management join KKR as investors in o9, valuing the company at $2.7 billion. This marks an increase from the $1 billion valuation in April 2020 at the time of the company’s first-ever external investment led by KKR, which is also participating in this funding round. This capital raise follows a record year during which the company reported a greater than threefold increase year-over-year in annual recurring revenue (ARR) from new customers.

“Not only is an agile, intelligent and resilient supply chain one of the most important growth accelerators, it also inherently leads to a reduced carbon footprint – especially for organizations that operate on a global scale,” said Sanjiv Sidhu, Chairman and Co-Founder, o9. “A sustainable supply chain requires companies to digitally transform their planning and decision-making capabilities. o9’s Digital Brain platform makes us the partner of choice for companies across the world and we are pleased and honored that General Atlantic’s BeyondNetZero and Generation Investment Management recognize this at such a pivotal phase of our growth trajectory.”

“We believe that o9 is uniquely positioned at the intersection of technology, supply chain, and sustainability,” said Tanzeen Syed, Managing Director, General Atlantic. “The business fits squarely within our theses at General Atlantic and BeyondNetZero to support companies that are leveraging innovation to tackle some of the most pressing issues in the world. o9 helps large organizations transform their costly, complex and resource-intensive supply chains into profitable and environmentally sound models – playing a critical role in enabling them to work toward net zero targets.”

Joy Tuffield, Partner in the Growth Equity strategy at Generation Investment Management, said, “Generation’s brand is predicated on the belief that long-term commercial opportunity is synonymous with sustainable outcomes. We believe the best businesses stand for something significant. Sustainability and supply chain issues have never been more important. o9 is one of the rare companies that we believe can help global enterprises leverage the power of digital technologies to deliver on both imperatives. We are excited by the commitment of o9 to be an enduring company with a positive influence on the world, in both what the company does and how it operates.”

To learn more, contact o9 here.

About o9 Solutions, Inc.

o9 offers a leading AI-powered Planning, Analytics & Data platform called the Digital Brain that helps companies across industry verticals transform traditionally slow and siloed planning into smart, integrated and intelligent planning and decision making across core supply chain, commercial and P&L functions.

With o9’s Digital Brain platform, companies are able to achieve game-changing improvements in quality of data, ability to detect demand and supply risks and opportunities earlier, forecast demand more accurately, evaluate what-if scenarios in real time, match demand and supply intelligently and drive alignment and collaboration across customers, internal stakeholders and suppliers around the integrated supply chain and commercial plans and decisions. Supported by a global ecosystem of partners, o9’s innovative delivery methodology helps companies achieve quick results in customer service, inventory and resource utlilzation and ESG and financial KPIs while building a long-term, sustainable transformation of end-to-end planning and decision-making capabilities. For more information, please visit www.o9solutions.com.

About BeyondNetZero, the Climate Investing Venture of General Atlantic

The BeyondNetZero team seeks to invest in growth companies delivering innovative climate solutions and aims to help them achieve scale. BeyondNetZero looks to identify companies that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. BeyondNetZero combines General Atlantic’s growth equity experience with a global team of proven climate investors, advisors and industry executives, including Lord Browne of Madingley, who serves as Chairman of BeyondNetZero. This diverse team of experts brings decades of experience in both addressing climate-focused problems and building pioneering growth companies. For more information on BeyondNetZero, please visit the website: https://beyond-net-zero.com.

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 $86 billion in assets under management inclusive of all products as of September 30, 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 and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Generation Investment Management 

Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a U.S. office in San Francisco. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority. www.generationim.com.

Media Contacts

Mary Armstrong & Casey Gunkel
BeyondNetZero (General Atlantic)media@generalatlantic.com

Jenni Ottum
o9 Solutions480-231-4887jennifer.ottum@o9solutions.com

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