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Apollo and Athene Enter into Strategic Relationship with BNP Paribas to Launch Eliant Inventory Solutions

nnovative Platform, Eliant Inventory Solutions LP, to Address Critical Market Need for Working Capital Optimization and Supply Chain Resiliency

Eliant Launches with $1.3 Billion in Signed or Awarded Inventory Programs

NEW YORK, Jan. 24, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and its subsidiary Athene today announce they have entered into a strategic relationship with BNP Paribas, a premier global bank, to provide a dynamic new solutions platform for working capital and supply chain needs with the establishment of Eliant Inventory Solutions LP (“Eliant”).

Eliant provides domestic and multinational companies with strategic and responsive inventory capital solutions to better optimize their supply chains and balance sheets, and buffer inventories. For companies, this can mean greater resiliency, fewer supply chain disruptions and more efficient working capital management. Eliant is structured to own inventory at an efficient cost of capital, with a technology platform to seamlessly manage high-volume and complex customer needs. Eliant launches with strong customer demand, marked by $1.3 billion in signed or awarded inventory programs with blue-chip customers.

BNP Paribas, a leader in supply chain and trade finance solutions with long-standing expertise in the space, will provide debt and receivables financing as well as structuring advisory and referral services to Eliant. Athene will serve as the primary capital provider to Eliant, while Apollo will act as the investment manager, supporting an in-house team at Eliant that is delivering customized supply chain inventory solutions to customers across industries and geographies.

Apollo Partner Ephraim Rudman said, “Together with Athene, we have established Eliant to serve the growing market for flexible inventory and trade finance solutions, while helping our clients access high-quality, recurring asset origination. More and more companies are looking for economically efficient ways to strengthen their supply chains and bolster resiliency, while traditional financing sources have largely stopped originating these assets – creating a significant opportunity for us to engage as a solutions provider. We are excited to launch inventory solutions through our strategic relationship with BNP Paribas, which has a tremendous track record in trade finance, and together support Eliant’s growing team and capital needs.”

BNP Paribas Head of Trade & Treasury Solutions Americas Suresh Subramanian said, “The bank has established expertise in understanding the complete spectrum of supply chain financing solutions, including inventory. Supply chain resiliency and working capital efficiency are key concerns of corporates, and through this strategic relationship with Apollo, we reinforce our commitment to innovative solutions that enable clients to quickly adapt to the challenges of the real economy.”

Eliant will focus on critical and strategic inventory for high-quality, global customers, employing diligent underwriting that aligns with the investment philosophies of Apollo and Athene and adds to their portfolio of origination platforms spanning commercial and consumer lending.

About Eliant
Eliant delivers supply chain resiliency and flexibility through creative working capital solutions. We work with multinational and domestic companies to bring additional certainty to their supply chains and inventories through cost effective financial solutions. Eliant is funded by subsidiaries and cedents of Athene Holding Ltd., and is overseen by affiliates of Apollo Global Management, Inc. (NYSE: APO). To learn more, please visit www.elianttrade.com.

About Apollo
Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2021, Apollo had approximately $481 billion of assets under management. To learn more, please visit www.apollo.com.

About Athene
Athene, a subsidiary of Apollo, is a leading retirement services company with total assets of $224.4 billion as of September 30, 2021 and operations in the United States, Bermuda, and Canada. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Founded in 2009, Athene is Driven to Do More for our policyholders, business partners, and the communities in which we work and live. For more information, please visit www.athene.com.

About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Forward-Looking Statements

This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the “Merger”) with Athene. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” “could,” “should,” “might,” “plan,” “seek,” “continue” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollo’s dependence on certain key personnel, Apollo’s ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollo’s ability to manage its growth, fund performance, the variability of Apollo’s revenues, net income and cash flow, Apollo’s use of leverage to finance its businesses and investments by Apollo funds, Athene’s ability to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in Apollo’s regulatory environment and tax status, litigation risks and Apollo’s ability to recognize the benefits expected to be derived from the Merger. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset Management Inc.’s (“AAM,” formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed with the SEC on February 19, 2021, amendment to its Annual Report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollo’s, AAM’s or Athene’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts

For Apollo and Athene:

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

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

Amanda Carstens Steward
Head of Marketing & Corporate Communications, Athene
(515) 342 6473
Asteward@athene.com

For BNP Paribas:

Media:
Guild Taylor
(332) 323-3704
Guild.Taylor@us.bnpparibas.com

Robert Madden
(917) 287-8501
Robert.Madden@us.bnpparibas.com


Primary Logo

Source: Apollo Global Management, Inc.; BNP Paribas; Athene

Categories: News

Tom Reichert Joins ERM Group as Global CEO

KKR

24 January 2022: ERM Group, the world’s largest pure play sustainability consultancy, today announces the appointment of Tom Reichert as CEO of ERM Group, effective 1 February 2022.

Tom brings more than 30 years’ experience as a seasoned digital and sustainability leader in consulting and industry. He joins ERM from The Boston Consulting Group (BCG), where he has most recently acted as the global leader of DigitalBCG, chair of the company’s Practice Areas and a member of the Executive Committee. Prior to BCG he worked in the finance sector in Australasia and Germany.

Tom Reichert comments: “I am deeply honoured and excited to be joining ERM and its diverse global team of 6000+ purpose-driven consultants. As businesses continue to grapple with the challenge of delivering against sustainability objectives that require fundamental transformation of both strategy and operations, ERM’s value proposition of strategic insight combined with technical excellence is what organisations need now more than ever. I’m looking forward to working with the team to evolve and accelerate the impact we have, building on ERM’s unparalleled track record of 50 years’ market leadership.”

David McArthur, interim CEO of ERM Group, comments: “Following an extensive global search process, I am delighted to welcome Tom to ERM and am looking forward to working closely with him as we continue to grow and transform our business in a dynamic and rapidly changing marketplace. Tom’s blend of leadership experience across digital transformation, change management and C-suite advisory will be hugely valuable and is what made him the stand-out choice for this role. His appointment will help us continue on our upward path of growth and client excellence.”

Tim Franks, Partner at KKR and Chair of the ERM Board, said: “The appointment of Tom as ERM’s new CEO marks the next chapter in the firm’s remarkable journey of growth. Sustainability is playing an increasingly important role in dealing with some of the major challenges the world is facing today, and ERM is in a critical position to help shape this. Tom’s exceptional consulting track record, coupled with the leading expertise ERM has been building within the business, creates a highly compelling proposition for clients. The Board welcomes Tom to the firm and is excited about the future that he will help develop for ERM and its clients.”

Ends.

Contact

Tim Cooper, Global Director of Communications, tim.cooper@erm.com

About ERM

ERM is the business of sustainability.

As the largest global pure play sustainability consultancy, ERM partners with the world’s leading organizations, creating innovative solutions to sustainability challenges and unlocking commercial opportunities that meet the needs of today while preserving opportunity for future generations.

ERM’s diverse team of over 6,000 world-class experts in over 150 offices in more than 40 countries supports clients across the breadth of their organizations to operationalize sustainability. Through ERM’s deep technical expertise clients are well positioned to address their environmental, health, safety, risk and social issues. ERM calls this capability its “boots to boardroom” approach for its comprehensive service model that allows ERM to develop strategic and technical solutions that advance objectives on the ground or at the executive level.

Categories: People

Waystone completes investment from Montagu and announces new strategic investment from Hg

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HG Capital

Montagu and Hg will become co-controlling investors, supporting Waystone to further scale its global platform for fund governance solutions

Dublin, Republic of Ireland and London, United Kingdom 24 January 2022, Waystone Group, a leading provider of institutional governance, risk, and compliance services to the asset management industry, today announce that Montagu, a leading private equity firm, has completed its investment in Waystone, and Hg, a leading global software and services investor, will join as a strategic investor and joint shareholder. Montagu first announced its investment in Waystone in July 2021. Hg’s investment is subject to regulatory approval and customary closing conditions

Founded in 2000 and based in Dublin, Waystone serves clients with assets under management totalling more than US$1 trillion, delivering the tools and expertise to manage their governance and regulatory requirements, enabling them to focus on their core business. It has achieved global scale through a series of carefully planned acquisitions, and today provides an extensive range of services and solutions across multiple international jurisdictions.

Montagu and Hg will partner with the company’s strong management team, led by CEO Derek Delaney, to continue to grow and complement Waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions.

“Hg will join Montagu and the management team as key shareholders. This will support our growth as an institutional, global service provider, paving the way for further expansion in 2022.”

Derek Delaney, Global CEO at Waystone

“As a long-established investor in the space, we recognise the growth opportunity for fund services, and specifically a third-party management company with Waystone’s global reach and competitive strength. We look forward to working with Waystone’s strong management team to meet the future needs of its clients.”

Tobias Weltin, Director at Montagu

“We’re impressed with what Derek and his team have achieved over the last decade. Hg knows the sector well, having invested around $4.5 billion into legal & compliance and the capital markets segments to date. This experience means that we know quality when we see it, and Waystone stands out as a leading platform for consolidation in this sector.”

Thorsten Toepfer, Partner at Hg

“We recognise Waystone as a leading platform in fund governance, with a differentiated profile and potential to scale further. We look forward to what we can achieve together with Montagu, Derek and the team.”

Justin Von Simson, Managing Partner at Hg

ENDS

Note to Editors

About Waystone
Waystone is a leading provider of institutional governance, risk, and compliance services to the asset management industry. Partnering institutional investors, investment funds and asset managers Waystone builds, supports, and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$1Tn in AUM. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.

For additional information on Waystone, visit www.waystone.com

Waystone Media Contact
Alison Mitsas
amitsas@waystone.com

About Montagu
Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. With deep experience in healthcare and the tech-enablement of essential businesses, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock the full potential of their business.  Montagu is committed to the mid-market, with a specialism in carve-out transactions and other first-time buyout investments. ESG forms an integral part of its strategy, and its commitment to sustainable investment is fully integrated into its investment and value-creation process. Montagu partners with businesses between €200 million and €1 billion and has €10bn assets under management.

For additional information on Montagu, visit www.montagu.com

Montagu Media Contacts
Rob White and Mikaela Murekian (Greenbrook)
+44 20 7952 2000
montagu@greenbrookpr.com

About Hg
Hg is a growth platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 40 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year.

Visit www.hgcapital.com for more information.

Hg Media Contacts
Tom Eckersley
tom.eckersley@hgcapital.com
+44 208 148 5401

Azadeh Varzi and Samantha Chiene (Brunswick)
hg@brunswickgroup.com
+44 207 404 5959

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Axcel sells Swedish Isadora to investor consortium

Axcel

Investor consortium acquires all the shares in Isadora from Axcel, who has been invested in the company since March 2018.

Founded in Sweden in 1983, Isadora is a leading cosmetics brand with presence in more than 40 markets, almost 200 employees and own production facilities in Malmö, Sweden, and Bern, Switzerland.

Since Axcel acquired the business in March 2018, the company has invested in a new and strengthened management team and organisation, improved its operational backbone and increased its share of online sales, which today accounts for approximately 20% of revenue.

“We have, over the last couple of years, worked closely with the owners and the Board to ensure positive development in our strategic initiatives and made good progress, despite the difficult market conditions after the outbreak of Covid-19. We thank Axcel for their support and contribution during this period,” says Rasmus Helt Poulsen, CEO of Isadora.

“We would like to thank the management team and all the employees for their effort and dedication under our ownership. We are pleased that we’ve been able to find a good new owner for the business and are looking forward to following the company’s development in the future,” says Christian Schmidt-Jacobsen, Managing Partner of Axcel.

The parties have agreed not to disclose any financial terms.

About Isadora

Isadora is a Swedish producer and distributor of cosmetics with production and headquarters in Malmö and additional production facilities in Bern, Switzerland. Its products for the eyes, face, lips and nails are sold by around 5,000 stores in 40 countries. The main markets are Sweden, the other Nordic countries, Germany and the Middle East. Products are sold directly to department stores, perfumeries, fashion outlets and online retailers in Sweden and six other European countries, and through distributors elsewhere.

 

About Axcel

Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of EUR 2.8 billion. These funds have made 64 platform investments with well over 100 add-on investments, and 43 exits. Axcel currently owns 20 companies.

 

Further information

Axcel:

Christian Schmidt-Jacobsen, Managing Partner

Tel.: +45 21 78 36 97

E-mail: csj@axcel.dk

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Blackstone Launches Sustainable Resources Credit Platform

Blackstone

Firm Intends to be a Global Leader in Providing Sustainable Finance Solutions for Companies Driving the Energy Transition

Blackstone Sees Opportunity to Invest an Estimated $100 Billion in Energy Transition and Climate Change Solutions Over the Next Decade Across its Businesses

NEW YORK – January 21, 2022 – Blackstone today announced the launch of Blackstone Credit’s Sustainable Resources Platform focused on investing in and lending to renewable energy companies and those supporting the energy transition. Blackstone Credit is one of the world’s largest providers of private credit in the energy transition marketplace. This initiative brings together Blackstone Credit’s scale and expertise in these areas with the firm’s ESG and Portfolio Operations capabilities to deliver value by providing new solutions and sources of capital to companies driving the broader energy transition. The Sustainable Resources Credit Platform complements the firm’s existing private equity, energy and infrastructure strategies that are investing in companies that support the energy transition and climate change solutions.

Governments and companies around the world are committing to decarbonization at an accelerated pace and over 90% of global emissions are covered by government net zero commitments (i). An estimated $100 trillion will be required through 2050 to decarbonize the global economy (ii).

As one of the world’s largest sources of private capital, Blackstone has a decade-long history of investing in renewable energy and climate change solutions. Since 2019, Blackstone has committed over $15 billion in investments that the firm believes are consistent with the broader energy transition. Blackstone anticipates that its capital deployment in this space will continue to grow. Across its businesses, Blackstone sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade.

Blackstone Credit’s Sustainable Resources Platform is a dedicated credit platform that seeks to address the growing challenges, investment needs and expertise required by this historic transition. It is led by Robert Horn, who has been with Blackstone Credit since its founding, and has been named Global Head of the Sustainable Resources Group for Blackstone Credit. Simon Hayden has joined the firm from EIG, and he is a Senior Managing Director for Blackstone Credit in London and leads the Sustainable Resources activities in Europe.

The Sustainable Resources Platform includes more than 30 investment professionals across North America and Europe, supported by the portfolio operations teams at Blackstone. The Platform will also leverage the firm’s considerable ESG expertise, bringing ESG professionals into the investment process. Newly hired Global Head of ESG for Blackstone, Jean Rogers, the founder of the Sustainability Accounting Standards Board (SASB), and Rita Mangalick, Head of ESG for Blackstone Credit, will advise investment teams, oversee ESG diligence and support other initiatives for the platform.

The Platform will invest across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. It will focus on a broad range of sectors, including residential solar and home efficiency; renewable electricity generation and storage; products, services, technologies and natural resources that enable the energy transition; decarbonized transportation; sustainability linked loans; green financings that fund environmental projects; and other energy infrastructure investments.

Jon Gray, President and COO of Blackstone, said: “The launch of this platform demonstrates our conviction in the investment opportunities presented by the energy transition. Companies globally are shifting to meet this demand. We believe private capital is essential to supporting decarbonization goals and our scale allows us to play a major role.”

Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone Credit’s unmatched scale is being unleashed to support companies that are driving the energy transition. We are excited to launch this dedicated financing platform to build on the over $15 billion that Blackstone has committed since 2019 in investments that we believe are consistent with the broader energy transition.”

Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, said: “We believe large scale and flexible capital are essential to funding decarbonization. We look forward to providing efficient capital and Blackstone’s expertise to companies across a range of sectors that we believe are driving this important transition.”

Simon Hayden, Senior Managing Director, Blackstone Credit, said: “I am delighted to join the world class team at Blackstone Credit and drive its European activities in sustainable resources.”

Blackstone more broadly has been an active participant in the market with numerous recent debt and equity investments across its businesses, including:

  • Committed approximately $3 billion in Invenergy Renewables, the largest developer of renewable energy projects in North America.
  • Financed over 350 MW of solar across 18 states through an investment in Altus Power, a solar power company that provides clean electricity and energy storage to commercial and residential customers across the United States.
  • Invested in ClearGen, a company that provides flexible capital for microgrids and other energy transition solutions for commercial and industrial customers.
  • Invested in Transmission Developers Inc. (TDI) to develop the Champlain Hudson Power Express (CHPE), an underground electric transmission line spanning approximately 339 miles between Canada and New York City. The project will deliver 1,250 MW of clean power to New York City, which is still reliant on fossil fuels for approximately 85 percent of its electricity consumption.

In January 2021, Blackstone announced its Emissions Reduction Program to reduce carbon emissions by 15% in aggregate over three years for all new assets where the firm controls energy usage. To accomplish this goal, Blackstone has developed what it believes is a robust decarbonization program designed to increase value by reducing energy use and carbon emissions at scale in a way that is measurable and tangible. Blackstone is also developing a carbon accounting system and a capability to track and report on Scope 1 and Scope 2 emissions reductions. This will allow the firm to measure its impact and provide its investors with critical data to help them to meet their own climate targets and financial goals.

Forward Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “opportunity,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “scheduled,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to the impact of the novel coronavirus, as well as those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our periodic filings. The forward-looking statements speak only as of the date of this report, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

About Blackstone
Blackstone is the world’s largest alternative investment firm. 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 $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, 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.

Contact
Kate Holderness
Kate.holderness@blackstone.com
646-482-8774

[i] Source: Climate Action Tracker
[ii] Source: IRENA World Energy Transitions Outlook, published March 2021.

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Ardian Real Estate raises €1.2bn for second fund

Ardian

25 JANUARY 2022 REAL ESTATE FRANCE, PARIS

Fundraise underlines the strength in European real estate as Covid-19 pandemic accelerates the evolution in work and lifestyle behaviors, driving new areas for investment

Ardian, a world-leading private investment house, today announces it has raised €1.2bn for its second real estate fund (AREEF II), confirming its leading position at a time of strength for the European real estate market, as changes in the way people live and work drive new investment opportunities.

The fund has a strong and diversified LP base with nearly 100 investors – more than 50 of which are institutional – from around the world, attracting capital from 13 countries across the Americas, Europe, and the Middle East.

The fundraise demonstrates strong investor appetite in the European real estate market, where Ardian has significantly grown its presence in the past five years since the inception of Ardian Real Estate.

Building on progress already made with AREEF I – which attracted more than 50 investors from 11 different countries – this fund will also invest in commercial property assets, mainly in office buildings in strategic locations in Europe.

AREEF II, which met its initial target size, represents an increase of more than 60% on Ardian Real Estate’s inaugural fund, AREEF I, which totaled €737m. The fund also saw a re-up rate of 84%.

AREEF II, which is already more than 50% deployed, will invest in assets valued between €50m and €250m, capitalizing on the long-term structural changes of working trends. Ardian Real Estate will use its operational capabilities to transform obsolete assets into “Green+” assets, which means with strong sustainability credentials, answering the new needs of tenants in key city-centers across Europe.

“Companies have been re-thinking ways of working for a number of years, but this shift was accelerated by the pandemic. It brings significant opportunities for real estate investors. Tenants are increasingly demanding high-quality and green spaces in strategic locations with strong sustainability credentials or what we call “Green+” buildings. With our expertise and now proven track record in the market, our “Build-to-Green+” strategy ensures our investments meet the needs of the workforce of the future.” STÉPHANIE BENSIMON, HEAD OF ARDIAN REAL ESTATE

Even before the pandemic, corporates were reassessing their workspace needs with a preference for well-located and high-quality spaces to attract talent. Covid-19 accelerated this trend, with companies now upgrading their office footprint to attract and retain talent in spaces fostering innovation, collaboration and social bonding.

Ardian Real Estate is putting sustainability as the core pillar of its investment strategy to match the new tenants needs for workspace having strong ESG credentials and to contribute to create more sustainable cities. Ardian embeds ESG considerations into every stage of their asset lifecycle. As a leading European player, the team strives to constantly imagine the future of offices and be at the forefront of the market in this field. “Green+” buildings emit on average 40% less CO2 than other office assets on the market. Our carbon reduction trajectory is in line with the 1.5 degree Celsius target set by the Paris agreement in 2016.

The fund has already successfully deployed significant amounts of capital, with more than half of the fund invested or under investment in the core markets of France, Germany, Spain and Italy:

  • AREEF II has already performed 11 transactions, including one exit
  • AREEF II manages over 230,000sqm across 8 European cities

“Not only does this fundraise show the resilience of European real estate, it is a significant moment for Ardian Real Estate. Following the success of our investments from the first fund, delivering strong returns to our investors, this second-generation fund has seen an even stronger response from investors and we see significant opportunity for creating value ahead.” STÉPHANIE BENSIMON, HEAD OF ARDIAN REAL ESTATE

The Real Estate team counts 21 investment professionals located across four offices. In 2021, Ardian strengthened the team with the appointment of four new Managing Directors: Matteo Minardi in Italy, Sébastien Bégué and Omar Fjer in France and Nico Rheims in Germany.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$120 billion managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Secondaries, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

PRESS CONTACT

ARDIAN

HEADLAND CONSULTANCY

ardian@headlandconsultancy.com

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A2A and Ardian sign two binding agreements for wind and photovoltaic portfolios

Ardian

21 JANUARY 2022 INFRASTRUCTURE ITALY, MILAN

The parties sign two agreements for an investment of 452 million euros for a total capacity of 352 MW.

A2A and Ardian, a world-leading private investment house, today signed a binding agreement under which A2A will acquire from Ardian funds participations in 3New&Partners, Daunia Calvello and Daunia Serracapriola, companies comprising a portfolio of wind farms in Italy with a total capacity of 335 MW (195 MW pro-rata with respect to Ardian’s stakes), for an Equity Value of 265 million euros.

The two parties have also signed a second binding agreement for a further portfolio, 4new, owned by a fund managed by Ardian and consisting of wind farms and photovoltaic plants for a total of 157 MW, of which 117 MW are located in Italy and the remaining 40 MW in Spain: the acquisition by A2A provides for a total Equity Value of 187 million euro.

“With these plants A2A consolidates its position as the second largest operator in renewables and its presence in Italy, increasing its activities in Sardinia, Puglia, Lazio and Campania. The operation enables the Group to record significant growth in wind power and boost photovoltaics. Today’s agreement and the transactions concluded in the last 12 months allow us to anticipate by two years the objectives of increasing the generation of green energy as set out in our Business Plan. In order to achieve independence from foreign markets in the supply of gas we need to accelerate the development of renewables, a key factor in the ecological transition. Our objective is to continue to invest in this sector and contribute to the sustainable development of the country.” RENATO MAZZONCINI, CHIEF EXECUTIVE OFFICER OF A2A

“We are very proud of what we achieved, during the last 15 years, with the development of our Italian platforms having today half a gigawatt of assets. Ardian has been a pioneering investor in the renewable field in Italy, supporting growth and energy transition. We are happy that these transaction fit in the A2A transition plan towards renewables. We remain firmly committed to sustainable investments in green energy and we are continuously looking to renew, diversify and develop our renewable energy portfolio worldwide.” MATHIAS BURGHARDT, MEMBER OF THE EXECUTIVE COMMITTEE AND HEAD OF ARDIAN INFRASTRUCTURE

The wind farms covered by the agreements between A2A and Ardian are located in Sardinia, Puglia, Campania and the Spanish region of Catalonia, while the photovoltaic plants are located in Puglia, Lazio and the Spanish region of Andalusia.

The completion of both transactions is subject to the fulfilment of customary conditions precedent and is expected indicatively by the end of June 2022.

Ardian Infrastructure was assisted by L&B Partners (M&A), L&B Avvocati Associati (Legal) and EOS (Technical Advisor).
A2A was assisted by Citi (M&A), Cleary Gottlieb (Legal), Studio Rinnovabili (Technical Advisor) and KPMG (Accounting and Tax Advisor).

 

ABOUT A2A

A2A is the Life Company that deals with energy, water and the environment, elements fundamental to life, thanks to the circular use of natural resources. It provides the areas and communities in which it operates with expertise and advanced technologies to improve people’s quality of life and contribute to the sustainable growth of the country. Listed on the Italian Stock Exchange, with over 12,000 employees, A2A is a leader in Italy in the environmental sector, from sorted waste collection to integrated waste management and material and energy recovery. The second largest energy producer in Italy by its installed capacity, A2A also manages the sale and distribution of electricity and gas, the integrated water cycle, district heating, electric mobility, public lighting, energy efficiency interventions and solutions for the development of Smart Cities. The results for the 2020 financial year report a Gross Operating Margin (EBITDA) of € 1.2 billion and Net Profit of € 364 million and investments totalling € 738 million, up 18% on 2019.

www.a2a.eu

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with $120 billion assets under management across Europe, the Americas and Asia. The company, which is majority-owned by its employees, is driven by an entrepreneurial spirit and focused on generating for its investors superior performance globally. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees in 15 offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages funds on behalf of approximately 1,200 clients across five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

PRESS CONTACTS

A2A

GIUSEPPE MARIANO

ufficiostampa@a2a.eu+39-02 7720.4583

INVESTOR RELATIONS

ir@a2a.eu+39-02 7720.3974

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BPEA Sells Singapore-Based Customized Technology Solutions Provider Interplex to Blackstone for $1.6 billion

BPEA

Sale concludes multi-year transformation following BPEA-led privatization from the Singapore Exchange in 2016

20 January 2022, Singapore – Baring Private Equity Asia today announced that its affiliated private equity funds (“BPEA”) have sold Interplex, a global vertically integrated customized technology solutions provider, to private equity funds managed by Blackstone for a total enterprise value of $1.6 billion.

Interplex provides a wide variety of customized connector, high-precision, and mechanical solutions focused on driving innovation in automotive electrification, autonomous driving, medical & life sciences, and digitalization. The company serves a global customer base, which includes leading-edge technology and electric vehicle (EV) companies, with approximately 13,000 employees across more than 30 locations and 10 R&D sites globally.

BPEA privatized Interplex from the Singapore Exchange (SGX) in 2016. Since its investment, BPEA has supported management in increasing R&D development globally and strengthening the company’s focus on the design and manufacture of customized connectors and other high precision offerings. During this time, significant progress has been achieved in increasing investment, streamlining operations, and repositioning the company to support customers’ growing requirements for integrated solutions. Today, Interplex generates the majority of its revenues from its new higher-margin business lines, led by fast-growing technology and EV clients. During BPEA’s ownership, Interplex also implemented ESG best practices focusing on the company’s environmental footprint and governance systems to become an ESG leader in its sector.

Hong Yong Leong, Managing Director at BPEA, commented: “We are proud to have supported Interplex’s transformation over the past five years. We saw a lot of potential in Interplex’s capabilities and embarked on a long-term strategic plan alongside management to re-orientate the business towards secular megatrends such as technology, data, and electric mobility. The company’s current top-tier client base, consisting of leading global EV manufacturers, data communication providers, and medical device companies, is a testament to the hard work of the management team in executing that vision. They were also instrumental in creating a highly sustainable business with strong customer-centricity, innovation capabilities, product quality, and ESG ethos. We would like to thank them for their immense contributions, and we believe the business is in good hands for the future.”

Goldman Sachs acted as exclusive financial advisor to Baring Private Equity Asia on the transaction.

– END –

About Baring Private Equity Asia

Baring Private Equity Asia (BPEA) is one of Asia’s largest private alternative investment firms, with assets under management of $37 billion. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 25-year history and over 220 employees located across 10 offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore, Shanghai, Sydney, and Tokyo.

BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The Firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance.

For more information, please visit www.bpeasia.com.

About Interplex

Interplex is a key industry leader in future mobility power and signal connector technology, working closely with electric vehicle (EV) customers to develop proprietary solutions for EV powertrains, battery systems, autonomous driving, and other vehicle electrification applications. The company has also actively positioned itself for other high growth connector and high precision products in markets such as smart medical devices, life science and ICT. Interplex will continue to support our customers in providing solutions for their increasing complex product development roadmap.

For media inquiries, please contact:

For BPEA:
SEC Newgate
Fergus Herries
fergus.herries@secnewgate.hk
+852 5970 3618

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The Purple Guys continues strategic expansion with the acquisition of Technology Pointe

Kian Capital

JAN 20, 2022

Kian Capital-backed The Purple Guys, a leading provider of managed IT services to small and mid-sized organizations, completed the acquisition of Technology Pointe (“Tech Pointe”), an Austin, Texas-based IT managed services provider. The investment achieves The Purple Guys’ goals of expanding into Texas, adding scale to its solutions portfolio and bringing together teams of high-performing and talented employees in support of a growing and complementary client base.

 

Tech Pointe has over 20 years of experience providing best-in-class managed IT services, strategy and support to the small to medium-sized business (“SMB”) community across a range of industries throughout the state of Texas. The company’s demonstrated client-first focus and market-leading presence in Austin and Dallas will significantly enhance The Purple Guys’ platform.

 

Kevin Cook, CEO of The Purple Guys, stated, “As we continue to deliver on our promise to create a new industry standard for managed IT services to the SMB community, we are excited to once again expand our presence with the acquisition of another forward-looking leader in the space. Chuck Cobern, Glenn Iltis and the talented team at Tech Pointe created a market-leading outsourced IT experience for their clients, and we look forward to building on their success.”

 

“Joining The Purple Guys is an exciting time for our team,” said Chuck Cobern, Founder of Tech Pointe. “It was imperative for Glenn and me to find a partner that values our employees and clients as much as we do. By combining our capabilities with those of The Purple Guys, we have an unprecedented opportunity to add tremendous value to the services we provide to support our clients’ IT needs. Furthermore, our employees are set to benefit significantly from the new opportunities that lie ahead.”

 

Tech Pointe marks the fourth acquisition for The Purple Guys since the formation of its partnership with Kian Capital and ParkSouth Ventures in January 2020 and the first since announcing its rebranding. Cook added, “We remain committed to our strategic growth plan to add scale and innovation for our clients while preserving our people-first culture. Tech Pointe will play an important role in our future success, and in 2022 we plan to continue executing our acquisition strategy across the Central and Southern U.S.”

 

Matt Levenson, Partner at Kian Capital, commented, “Increasing complexity and security concerns have made IT management a core strategic priority for SMB decision-makers. The Purple Guys has successfully executed several important growth initiatives over the past year—both organically and through strategic acquisitions—to better address the complex needs of their customers. We have been looking for a strategic partner with roots in Texas and Tech Pointe presents a significant opportunity to expand on the company’s success and drive continued growth throughout the state. We are thrilled with the prospects of this new partnership and those to come.”

 

The Purple Guys is actively seeking partnerships with founders in the managed IT services space. Business owners interested in learning more should contact David Duke, Partner, Business Development at Kian, at dduke@kiancapital.com.

 

Robinson, Bradshaw & Hinson, P.A. acted as legal advisor to Kian Capital.

ABOUT THE PURPLE GUYS

The Purple Guys is a leading provider of comprehensive managed IT services to small and mid-sized businesses. We focus on our clients’ IT so they don’t have to. As trusted members of our clients’ teams, we work hard on their behalf to help their businesses grow and succeed by ensuring secure, reliable and cost-effective IT systems. The Purple Guys has offices in Shreveport and New Orleans, Louisiana; Kansas City, Kansas; St. Louis, Missouri; and now Austin and Dallas, Texas, employing more than 180 highly trained team members serving businesses throughout the Central and Southern U.S.

 

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Pixis raises $100M in SoftBank Vision Fund 2-led Series C funding to grow its codeless AI infrastructure

Pixis (formerly known as Pyxis One), a leading provider of contextual codeless AI infrastructure for complete marketing optimization, today announced it has secured US $100M in Series C funding. Pixis will leverage the fresh funds to help the company rapidly scale its AI platforms and plugins, as well as accelerate expansions across North America, Europe, and APAC.

The Series C round was led by SoftBank Vision Fund 2, with participation from new investor General Atlantic, a leading global growth equity firm. Existing investors Celesta, Premji Invest, Chiratae Ventures, and Crimsonox Ventures also participated in the round. With the close of its US $17M Series B round just four months prior, Pixis has raised a total of US $124M to date since its founding in 2018.

Pixis’ AI infrastructure, which leverages self-evolving neural networks, is providing immense value to customers through its codeless AI plugin, enabling AI-powered decision-making for every aspect of marketing. Pixis recently launched its codeless AI plugin after closing, with the belief that a powerful codeless AI infrastructure will help safeguard marketers against inevitable developments that will change the current marketing ecosystem. Looking ahead, Pixis aims to add over 200 customizable self-evolving AI models to the infrastructure it offers and has already introduced close to four dozen AI models since its last funding.

Pixis currently has over 100 customers using its AI products across the world. Customers using the Pixis AI infrastructure have witnessed a 20% decrease in acquisition costs on average, in addition to at least 300 hours of manual work saved per month.

“The web going cookieless, in conjunction with decreasing access to the depth of data that was previously available, is a worrisome situation for marketers. In this environment, it is self-evolving neural networks that are proving to be invaluable assets in countering the disruptions to the marketing landscape,” explained Shubham A. Mishra, co-founder and Global CEO at Pixis. “We are excited to partner with SoftBank Vision Fund 2 and General Atlantic to make codeless AI infrastructure accessible to every market in the world.”

Shantanu Rastogi, Managing Director at General Atlantic, continued, “Pixis is disrupting the marketing space with a self-learning codeless AI infrastructure that serves a mission-critical function in the marketing tech stack. The AI plugins and platforms solve key customer problems and are improving business outcomes. The Pixis platform demonstrates the power of global entrepreneurship, and we are proud to support the team’s ambitions of continued expansion.”

SoftBank Vision Fund 2’s investment in Pixis confirms that in a cookieless world, Artificial Intelligence could be the big differentiating factor for brands. “Marketing is one of the largest spend categories for companies but many of its decisions are still driven by intuition rather than data,” said Priya Saiprasad, Partner at SoftBank Investment Advisers. “Pixis has developed an AI-enabled, end-to-end digital marketing solution that equips teams with cutting-edge data science to automate and improve core processes, from budget allocation to real-time campaign optimization and reporting. We are excited to partner with Shubham and the team to support their mission to make marketing data-backed, intelligent, agile, and effortlessly scalable in the new cookie-less world.”

About Pixis (formerly Pyxis One)

Pixis is a California-based technology company that provides codeless AI infrastructure to enable customers to scale accurate data-driven marketing. The company’s codeless AI infrastructure currently comprises over four-dozen proprietary AI models that are deployed across an ecosystem of products and plugins. Pixis is on a mission to provide marketers with robust plug-and-play AI products without them having to write a single line of code.

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 $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.

 

Media Contacts

Mary Armstrong & Emily Japlon
General Atlanticmedia@generalatlantic.com

Sana Javaid
Pixisprforpixis@bospar.com

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