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Audax Private Equity Announces Investment in Centerline Communications

Audax Private Equity Announces Investment in Centerline Communications

JAN 11, 2022

Audax Private Equity (“Audax”) announced today that it has acquired a controlling interest in Centerline Communications LLC (“Centerline”), a leading professional services organization focused on the design, build, and maintenance of wireless and wireline network infrastructure from Wincove Private Holdings, LP (“Wincove”) and Stone-Goff Partners (“Stone-Goff”). This transaction took place in August 2021 and terms of the transaction were not disclosed.

Josh Delman, Founder and CEO of Centerline, will continue to lead the company alongside the existing management team. Josh and Wincove will maintain minority ownership positions in the company alongside Audax.

The investment will support Centerline’s continued organic and acquisition growth as it pursues its mission to grow its national footprint and further expand its scope of services focused on the development and maintenance of critical network infrastructure.

Since Audax’ initial investment, Centerline has completed three acquisitions that have helped expand the company’s geographic coverage and range of service offerings: Maicom LLC (“Maicom”), which closed in August 2021; P. Marshall & Associates (“PM&A”), which closed in December 2021; and J5 Infrastructure Partners (“J5”), which closed in December 2021.

Maicom is a critical infrastructure focused services organization based in North Andover, MA, that provides critical infrastructure installation and maintenance for major multiple-system operators (“MSO’s”) throughout the United States and Canada in support of their networks. Centerline acquired Maicom from the Boston-based investment firm, Heritage Holding.

PM&A is an engineering, real estate, and construction management organization based in Atlanta, GA that provides professional services to national wireless operators and major infrastructure owners throughout the southeast and gulf coast of the United States.

J5, based out of Irvine, CA, is a real-estate, construction management, and engineering firm supporting national wireless operators and several national and regional broadband providers throughout the western United States. Centerline acquired J5 from Raleigh-based investment firm, Ridgemont Equity Partners. The founders of each business (Paul Maiuri from Maicom, Patrick Marshall from PM&A, and John Barker from J5) and their respective management teams are planning to remain with the combined platform. With these strategic acquisitions, the Centerline platform now has over 1,200 professionals helping to support the deployment of critical infrastructure throughout the United States and Canada.

Josh Delman, Founder and CEO of Centerline, said, “We are thrilled to be partnering with Audax and look forward to benefitting from their deep industry expertise. We believe this partnership will help us to meet the growing demand within our customers to work with larger, self-performing service organizations that can provide turn-key solutions to critical infrastructure within their national networks. We are excited to have expanded our coverage through our recent acquisitions and to be diversifying our services within the platform to better support our customers.”

“We believe Centerline is well-positioned to grow organically and through acquisitions as it continues its mission to build out a broad range of critical infrastructure services nationally,” said David Wong, Managing Director of Audax. “We are thrilled to be partnering with the company’s highly-experienced management team to help take the business to the next level.”

Keybanc Capital Markets acted as an advisor to Centerline in the transaction with Audax and Husch Blackwell served as legal counsel. Ropes & Gray LLP and Fredrikson & Byron served as legal counsel to Audax.

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RLDatix Announces New Growth Investment by Nordic Capital

Nordic Capital
January 10 2022
RLDatix Announces New Growth Investment by Nordic Capital Image

 

  • Latest investment will help fuel the next phase of RLDatix’s rapid growth in governance, risk and compliance while accelerating its mission of making healthcare safer around the world

RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare, announced today that Nordic Capital has made a minority equity investment in the company. Existing investors Five Arrows and TA Associates will continue to maintain a majority equity stake. Financial terms of the transaction were not disclosed.

Nordic Capital brings decades of experience supporting the growth of innovative healthcare IT companies as well as additional financial strength and is joining Five Arrows and TA to support RLDatix in its organic and inorganic growth objectives. Most recently, RLDatix acquired Allocate Software, the leading provider of human capital management solutions that help healthcare organizations deliver safe and effective care.

“We are excited to welcome Nordic Capital to our collaborative team of strategic investors,” said Jeff Surges, CEO, RLDatix. “Nordic Capital offers the right balance of global reach, domain expertise and capital strength, that we need in our next phase of rapid growth. With this investment, we are well poised to accelerate our journey as the leading provider of SaaS solutions that make healthcare safer for patients, the workforce and organizations alike. I would also like to thank all of our employees, as well as our current investors Five Arrows and TA, for their incredible support in helping us evolve into a global healthcare IT leader and look forward to continuing the partnership in this next chapter of our growth.”

About RLDatix

RLDatix is on a mission to change healthcare. We help organizations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. Our suite of cloud-based software helps organizations report on adverse events, reduce healthcare-acquired infections and ensure patient safety learnings are implemented across the continuum of care. With more than 5,000 customers in over 20 countries, RLDatix software protects hundreds of millions of patients around the world. RLDatix is controlled by Five Arrows, TA Associates and Nordic Capital as major shareholders. For more information, visit www.rldatix.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.

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

About Five Arrows

Five Arrows Principal Investments (FAPI) and Five Arrows Capital Partners (FACP) (together, “Five Arrows”) are the European and US corporate private equity arms, respectively, of Rothschild & Co’s Merchant Banking business. Five Arrows is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. The sector focus at Five Arrows is limited to healthcare, data & software and technology-enabled business services.

For more information please visit: https://www.rothschildandco.com/en/merchant-banking/corporate-private-equity.

About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

For more information:

Mike Etzinger
VP, Marketing
RLDatix
metzinger@rldatix.com

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KKR Appoints Ryan Stork as Chief Operating Officer

KKR

January 10, 2022

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (together with its subsidiaries, “KKR”) today announced that Ryan Stork has joined KKR as a Partner and Chief Operating Officer (COO).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220110005625/en/

Ryan Stork (Photo: Business Wire)Ryan Stork (Photo: Business Wire)

“As our investment activities continue to scale globally, so too must our operational functions that make them all possible and allow us to continue to best perform for our investors. As COO, Ryan will provide dedicated leadership support across our Human Capital, Technology and Operations functions, leveraging his global experience and expertise to help us deliver on our key strategic priorities across the Firm,” said Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR.

Mr. Stork is joining KKR from BlackRock where he held multiple leadership roles for more than 20 years, including most recently as Deputy Chief Operating Officer. He also served as Chairman of Asia Pacific, Global Head of Aladdin – BlackRock’s investment and risk management technology platform, Head of the Institutional Client Business in Continental Europe, and Co-Head of the Financial Institutions Group. He was also a member of BlackRock’s Global Executive Committee and a board member of BlackRock’s Foundation. Over his career, Ryan has worked and lived in New York, London, and Hong Kong.

Of the appointment, Mr. Stork added: “I am thrilled to be joining KKR at such an exciting time for the organization and look forward to partnering with colleagues globally to support the investment, technology and operating needs that will enable us to serve our clients even better.”

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.

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

Source: KKR & Co. Inc.

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KKR-Mirastar Logistics Platform Expands European Portfolio with Investments in the Netherlands – Transaction is KKR’s first in Europe via its Core Plus Real Estate strategy

KKR

January 10, 2022

This transaction is KKR’s first via its pan-European Core Plus Real Estate strategy, which focuses on investing in high quality, substantially stabilised assets with long-term value growth potential.

The four assets are located in Eindhoven and Wijchen, strategic locations that comprise the South Netherlands’ primary logistics distribution corridor between Rotterdam and the German border. Both cities are attractively sited for logistics assets, with strong industrial sub-markets benefiting from multi-modal transportation close to major transport routes in the Netherlands. Mirastar will manage the assets.

Ian Williamson, Managing Director and Head of Core Plus Real Estate in Europe at KKR, said: “KKR’s Core Plus platform in Europe was launched to meet long-term investor demand for high quality assets in structurally growing areas of the real estate sector. These logistics assets are an excellent fit with our strategy and we expect logistics to remain a core thematic focus for KKR in Europe through our Core Plus platform. The assets have strong ESG credentials and our business plan includes transitioning them to the highest level by supporting de-carbonisation in-line with the Paris Climate Agreement.”

Diederik Schol, Principal in KKR’s European Real Estate team, added: “We are excited to continue growing our industrial portfolio in one of Europe’s top distribution markets with this high-quality portfolio. We believe these assets benefit from strong levels of occupier demand and a structural under-supply, driving long-term value appreciation. The Netherlands continues to be a key market for us across both Core Plus and Value-Add, particularly in the industrial and residential sectors.”

KKR is an active investor in logistics real estate across Europe and has a strong track record of investing across real estate sectors in the Netherlands. In 2018, KKR acquired two major student housing developments in Groningen and Utrecht, exiting the investment last year, and continues to actively seek investment opportunities in the Netherlands across all sectors. The KKR-Mirastar platform currently manages approximately 150,000 square meters of prime logistics assets in the Netherlands, which were acquired and developed in 2021 in Bleiswijk, Schiphol and Roosendaal.

-ends-

Media Enquiries

KKR: EMEA
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44 20 7251 3801
KKR_LON@finsbury.com

KKR: Netherlands
Corina Holla
Meines Holla
+31 6 12 75 40 36
corinaholla@meinesholla.nl

Notes to Editors

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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BioNTech and Crescendo Biologics announce global collaboration to develop multi-specific precision immunotherapies

Andera Partners

Collaboration leverages BioNTech’s proprietary multimodal immunotherapy expertise with Crescendo’s proprietary Humabody® VH platform to develop precision immunotherapies, including mRNA-based antibodies and engineered cell therapies against targets selected by BioNTech
▪ BioNTech will hold exclusive worldwide development and commercialization rights to all immunotherapies arising from the collaboration
▪ Crescendo will receive $40 million upfront, including a cash payment and an equity investment from BioNTech, as well as research funding, and will be eligible to receive development, regulatory and commercial milestone payments up to a total of more than $750 million, plus tiered royalties on global net sales

BioNTech SE (Nasdaq: BNTX, “BioNTech”) and Crescendo Biologics Ltd (“Crescendo”), a clinical stage immuno-oncology company developing novel, targeted T cell enhancing therapeutics, today announced that they have entered a multi-target discovery collaboration to develop novel immunotherapies for the treatment of patients with cancer and other diseases. The initial term of the discovery collaboration is three years.

Crescendo will contribute its unique, proprietary, transgenic platform to deliver fully human heavy-chain antibody domains (Humabody® VH) against targets nominated by BioNTech. Humabodies represent a novel class of therapeutics that retain the high-affinity binding and specificity of conventional therapeutic antibodies while providing additional advantages such as small size, enhanced tissue and tumor penetration, stability and molecular simplicity due to the lack of a light chain. In particular, the modular nature of Humabodies make them ideally suited for the development of multi-target immunotherapies.

“Crescendo’s platform provides excellent properties for exploiting novel targets and target combinations which we believe has great potential for the development of multi-specific mRNA and engineered cell-based therapies in a variety of disease areas,” said Ugur Sahin, M.D., Chief Executive Officer and Co-Founder of BioNTech. “We are excited to begin working with Crescendo to further strengthen and expand our multimodal immunotherapy portfolio and deliver breakthrough precision medicines for patients.”

“To collaborate with BioNTech and their world-class team is a transformational opportunity for Crescendo. We are looking forward to further leveraging our clinically validated Humabody VH platform within mRNA therapeutics to develop better treatment options for patients,” said Theodora Harold, Chief Executive Officer at Crescendo Biologics.

Under the terms of the agreement, Crescendo will receive $40 million upfront, including a cash payment and an equity investment from BioNTech, as well as research funding for the period of the collaboration. BioNTech will be responsible for global development and hold exclusive worldwide commercialization rights on any products arising from the collaboration. Crescendo will be eligible to receive development, regulatory and commercial milestones up to a total of more than $750 million, in addition to tiered royalties on global net sales.

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KKR Closes $4.0 Billion Health Care Strategic Growth Fund II

KKR

January 10, 2022

Successor Fund Reaffirms Firm’s Commitment to Investing in Innovative Health Care Growth Companies

MENLO PARK, Calif. & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR Health Care Strategic Growth Fund II (“HCSG II” or the “Fund”), a $4.0 billion fund dedicated to health care growth equity investment opportunities primarily in North America and Europe.

HCSG II is the successor fund to KKR Health Care Strategic Growth Fund (“HCSG I”), KKR’s first dedicated health care growth equity vehicle, which held its final closing in November 2017 on $1.45 billion in capital commitments. Similar to its predecessor fund, HCSG II will aim to generate strong returns for clients by investing in innovative health care companies with proven products and services that are seeking a partner to commercialize and scale. With a diversified portfolio approach, HCSG II will focus on the biopharmaceutical, medical device, health care services, life science tools / diagnostics, and health care information technology sub-sectors.

“Now more than ever there is a significant demand both for innovative products and services in the health care sector and for an experienced and flexible capital partner to invest in their growth and further their reach,” said Ali Satvat, Partner, Global Head of Health Care Strategic Growth, and Co-Head of Americas Health Care Private Equity at KKR. “Building on the robust momentum and tangible results that we have achieved thus far through HCSG I, we look forward to continuing to partner with best-in-class health care businesses to bring these much-needed products and services to market for the benefit of patients globally while delivering strong returns for our investors.”

HCSG II received strong support from a diverse group of both new and existing investors globally, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth and fintech platforms, family offices, and high-net-worth individual investors. KKR will be investing approximately $500 million of capital in the Fund alongside these investors through the Firm’s balance sheet, affiliates, and employee commitments.

“We are pleased to have the backing of this diverse group of investors who share our passion for the opportunities that we see in this growing market,” said Alisa Amarosa Wood, Partner and Head of the Private Markets Strategies Group at KKR. “At nearly three times the size of its predecessor, HCSG II not only speaks to the attractive investment opportunities that we are seeing but also demonstrates the strength of our health care investment team, our Health Care Strategic Growth strategy, and our strong investment performance to date.”

KKR has established a strong track record of supporting companies across the health care ecosystem, having invested approximately $18 billion across the sector since 2004. KKR’s health care team has grown to nearly 35 dedicated investment professionals globally. In addition to providing capital, the Firm helps companies grow through its industry experience and relationships, operational expertise, global infrastructure, and resources from more than 100 portfolio companies worldwide. In 2021, KKR executed a number of new investments as part of its Health Care Strategic Growth initiatives, including in Argenta, Nordic Bioscience, Sapphiros, Geode Health, and Cordis.

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.

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

Source: KKR & Co. Inc.

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IK appoints Pete Wilson to launch UK Mid Cap strategy and promotes five to Partner

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce the appointment of Pete Wilson as its first UK Mid Cap Partner. In addition, five individuals based across the Firm’s Paris, Stockholm and London offices have been promoted to Partner.

Prior to joining IK, Pete was a Partner and Head of UK Private Equity at 3i Group, where he spent 15 years. He brings substantial experience, having been involved in numerous investments and portfolio companies across a range of sectors, including Aspen Pumps, Civica, Inspicio, SLR Consulting and Audley Travel. A graduate of Warwick University, he began his career as a strategy consultant at Accenture. Pete will be launching IK’s UK Mid Cap strategy, investing in growing businesses across the Firm’s core sectors: Business Services, Healthcare, Consumer and Industrials. This follows the success of IK’s UK Small Cap strategy launched in 2020 with the appointment of Tom Salmon and investments in Forthglade and DA Languages.

In addition, IK is delighted to announce the following promotions to Partner:
• Thierry Aoun – Capital Markets, London
• Maria Brunow – Mid Cap Investment Team, Stockholm
• Vincent Elriz – Mid Cap Investment Team, Paris
• Antoine Jacquemin – Operations, Paris
• Diki Korniloff – Mid Cap Investment Team, Paris

Christopher Masek, Chief Executive Officer at IK, commented: “At IK we define ourselves as ‘People-First Private Equity’, so it is with immense pride that we elevate five outstanding colleagues to Partner in recognition of their success to date and their potential to continue to deliver outstanding results for investors and drive value creation at portfolio companies. Following yet another record year, we are excited to develop our team as we continue our mission to enable leading European businesses to reach their potential through investment and operational excellence. We are also thrilled to welcome Pete Wilson as our first UK Mid Cap Partner. The UK is one of the largest PE markets in Europe, so this is a logical next step for us as we continue our successful investment strategy with a presence in key markets across the continent.”

Pete Wilson, Partner at IK, commented: “I am delighted to join IK to launch a Mid Cap strategy in the UK and have been hugely impressed by the scale of ambition within the business, as well as its 30-year track record of pan-European PE investing. The combination of IK’s deep local networks, well established platform and ‘people-first’ culture is a differentiated and compelling proposition. I look forward to expanding the reach and focus of the

Mid Cap strategy and furthering IK’s commitment to the UK market, on the back of the strong start the UK Small Cap team have already had.”

Thierry Aoun
• Thierry Aoun joined IK in 2020 and is the Partner responsible for the IK Capital Markets team, based in London.
• Leading acquisition financing and overseeing related activities for the Firm’s buyouts and portfolio companies, he also manages the Firm’s relationships with lenders.
• Prior to joining IK, Thierry was at KKR, focusing on private credit investments and capital markets activities. He began his career in leveraged finance at J.P. Morgan and has an MSc in Management from HEC Paris.

Maria Brunow
• Maria Brunow joined IK in 2018 and is in the Mid Cap Investment team, based in Stockholm.
• A Finnish national, sitting within the Healthcare sector team, she is responsible for portfolio investments across the Nordics.
• Prior to joining IK, Maria worked at Deutsche Bank in London. She began her career at Lazard in Stockholm, having gained an MSc in Economics from the Stockholm School of Economics.

Vincent Elriz
• Vincent Elriz joined IK in 2016 and is in the Mid Cap Investment team, based in Paris.
• Sitting within the Business Services sector team, he has substantial transaction and board membership experience.
• Prior to joining IK, Vincent worked at Montagu Private Equity in Paris and began his career at Blackstone in London, having graduated from HEC Paris with an MSc in Finance.

Antoine Jacquemin
• Antoine Jacquemin joined IK in 2018 and is in the Operations team, based in Paris.
• He is responsible for the operational optimisation and support of portfolio companies.
• Antoine began his career at Renault and Philips and then worked in consulting for Bain & Company and as a Business Transformation Officer in an Advent-owned business. He graduated from ESSEC Business School and additionally, holds an MBA from INSEAD.

Diki Korniloff
• Diki Korniloff joined IK in 2012 as an Associate and is in the Mid Cap Investment team, based in Paris.
• She specialises in the Industrials sector and has played a pivotal role across a range of transactions across France.
• Prior to joining IK, Diki worked at Boston Consulting Group and Royal Bank of Scotland, having gained an MSc in Industrial Engineering from École Centrale Paris.

Pete Wilson
• Pete Wilson has joined IK as the Partner responsible for the UK Mid Cap Investment team, based in London.
• Sitting within the Business Services team, he brings substantial investing and portfolio experience across a range of geographies.
• Prior to joining IK, Pete was a Partner and Head of UK Private Equity at 3i Group, where he spent 15 years. He started his career in the Strategy group at Accenture and has a first-class honours degree from the University of Warwick.

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 160 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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Welby Health Partners with New Stack Ventures to Usher in a New Era of Tech-Enabled Care

New Stack Ventures

Revolutionizing Modern Healthcare through a Unique RPM Solution

January 9, 2022 · New Investment

When it comes to healthcare, the United States has become a leader in strategic innovations to improve patient care, outcomes, and the patient experience. That said, when it comes to chronic conditions that plague millions of Americans annually, there are few resources available to maintain top-tier healthcare from home. However, Welby Health, whose revolutionary WelbyCare platform to enhance at-home, longitudinal care, has recently closed a seed funding round from New Stack Ventures. The capital infusion will help Welby progress toward its goal to offer physicians and patients across the nation access to best-in-class support for the management of chronic diseases.

Created by doctors, for doctors, the WelbyCare platform was designed to help physicians manage patients with chronic conditions and complex health needs from their homes. CEO Seth Merritt works with an outstanding clinical team led by Dr. Taib Rawi, to ensure that the WelbyCare program is an extension of clinical practices, and provides physicians and patients greater support in managing chronic health conditions like diabetes and hypertension. Welby is combining a licensed clinical staff with hardware and software–including biometric data collection and digital engagement tools–to support physician offices in promoting patient engagement outside of the clinic.

“Physicians are already overworked, and asking them to take the burden of managing patients outside of the clinic themselves is just not realistic. By providing an opportunity to promote our tech-enabled clinical services to more physicians, we will be able to impact the lives of more patients and help them improve their health outcomes while also helping physicians get more enjoyment out of their profession” says Merritt.

In addition to a state-of-the-art remote patient monitoring program, the WelbyCare platform provides clinics with nationally recognized and clinically validated care guidelines to generate patient-specific care plans that comply with NCQA requirements for value-based care. Access to this level of clinical support would typically cost a clinic more than $20K annually to license and deploy, but the WelbyCare platform provides access to these guidelines to all participating clinics for no additional cost or fees, enabling the greatest possible outcomes from their remote patient monitoring programs.

By partnering with New Stack Ventures, Welby Health will be able to leverage its proprietary technology platform to break into new markets, reach new physicians, and partner with renowned clinics across the country to bring the future of healthcare to the millions of Americans requiring oversight to their chronic conditions while reducing the total cost of care. WelbyCare leverages the expertise of registered nurses and certified case managers for all patient-facing interactions, as opposed to other programs that often use non-clinically trained administrative staff that may satisfy regulatory requirements but have failed to deliver significant clinical results that physicians are looking for.

Austin Ju, deal lead at New Stack Ventures noted, “Remote patient monitoring is one of the fastest-growing segments in healthcare, projected to reach $117B by 2025. Despite this, existing solutions face poor adoption and retention. Welby’s white-gloved approach with their clinical partners addresses these major concerns.”

To learn more about Welby Health, please visit: https://www.welby.care/

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Invenergy Announces Approximately $3 Billion Investment from Blackstone Infrastructure Partners to Accelerate Renewable Development Activities

Blackstone
  • Blackstone’s commitment is one of the largest renewable investments in North American history
  • Investment will provide significant capital to drive an accelerated build-out of Invenergy’s clean energy platform
  • Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition
  • CDPQ and Invenergy management remain majority owners of the company and Invenergy will continue as managing member

NEW YORK, NY, CHICAGO, IL, AND MONTRÉAL, QC – JANUARY 7, 2022 – Today, Blackstone Inc. (NYSE: BX) announced that funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy for an approximately $3 billion equity investment in Invenergy Renewables Holdings LLC (“Invenergy Renewables” or “the company”), the largest private renewable energy company in North America. Blackstone’s investment will provide capital to accelerate Invenergy’s renewables development activities. CDPQ and Invenergy management remain majority owners of the company and Invenergy will continue as managing member.

Invenergy Renewables is one of the largest and most well-respected renewable energy developers, with over 175 projects totaling nearly 25,000 megawatts developed across four continents, focused on long-lasting partnerships with utilities, financial institutions and commercial and industrial customers. The generation projects developed by the company power the equivalent of 8.5 million homes. Invenergy has received numerous industry recognitions, notably a #4 global rank for “Top Power Generators” based on renewables capacity by Energy Intelligence New Energy in 2020. The company’s developed projects have offset approximately 167 million tons of carbon dioxide, or approximately the annual emissions of the state of New York. Invenergy Renewables has a significant development and construction pipeline, and its affiliate Invenergy Transmission is solving power delivery challenges by advancing some of the world’s most innovative transmission infrastructure projects. The company is building both the largest wind and solar projects in the United States, that combined will deliver nearly 3 gigawatts (GW) of clean energy by 2023.

Commenting on the transaction, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: “Blackstone is committed to investing behind the energy transition and Invenergy is the clear independent leader in the renewable energy sector. We look forward to a long-term partnership with the Invenergy and CDPQ teams and are excited to invest alongside them to support the accelerated build-out of Invenergy’s clean energy portfolio.”

Matthew Runkle, Senior Managing Director in the Infrastructure Group at Blackstone, added: “We are proud to have the opportunity to work with Michael Polsky and the world-class team at Invenergy. Invenergy has built an outstanding platform for delivering clean energy – which is essential to our future – and we are honored to be a part of their mission.”

Jim Murphy, President & Corporate Business Leader at Invenergy, said: “The Invenergy team is pleased to welcome Blackstone, a leader in the renewable investment space, as our partner. We greatly value our long-term relationship with CDPQ and are thrilled to continue to accelerate the clean energy transition with Blackstone’s additional investment and capabilities.”

Emmanuel Jaclot, Executive Vice President and Head of Infrastructure at CDPQ, added: “For nearly a decade, we have worked alongside Invenergy to build a key global player in the energy transition, in the United States and around the world. Michael Polsky, Jim Murphy and their team raise the bar when it comes to developing and operating sustainable energy solutions, making their company a true innovator and leader in its field. We are delighted to welcome our long-term partner Blackstone as a new investor, combining our global reach and resources to help position Invenergy for continued growth.”

The investment in Invenergy Renewables is the most recent example of a number of clean energy companies Blackstone is proud to support. Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition. Additionally in 2020, Blackstone announced a plan to reduce carbon emissions by 15% in aggregate within the first three years of ownership across all new investments where Blackstone has control over energy usage.

Lazard and CIBC served as M&A advisors to Blackstone and Kirkland & Ellis as legal advisor to Blackstone. Mayer Brown was legal advisor to CDPQ, and Sidley & Austin and White & Case represented the company and Invenergy.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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

About CDPQ
At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2021 CDPQ’s net assets total CAD 390 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.

About Invenergy Renewables
We are innovators building a sustainable world. Invenergy Renewables and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy’s home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland and Scotland. Invenergy has successfully developed more than 25,000 megawatts of projects that are in operation, construction or contracted, including wind, solar power generation facilities as well as transmission and advanced energy storage projects. For more information, please visit www.invenergy.com.

Contact
For Invenergy
Beth Conley
bconley@invenergy.com
312-429-2529

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

For CDPQ
Conrad Harrington
Senior Director – International Media Relations
514-847-5493
charrington@cdpq.com

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Apollo Names Louis-Jacques Tanguy Chief Accounting Officer

NEW YORK, Jan. 07, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Louis-Jacques Tanguy has been appointed Chief Accounting Officer and Controller for Apollo Global Management, Inc. and Apollo Asset Management, Inc., effective January 11, 2022, reporting to Chief Financial Officer Martin Kelly. Tanguy joins Apollo from Deutsche Bank where he was most recently Managing Director, Head of Group Finance Americas and Global Head of Business Finance for Origination and Advisory.

Apollo CFO Martin Kelly said, “We are pleased to welcome L.J. to our finance organization. He is an industry veteran with extensive experience in business finance, accounting, and financial performance and planning, and we look forward to his contributions as we continue to execute on our strategic growth plans.”

Tanguy joins Apollo after more than 13 years with Deutsche Bank where he had a broad range of responsibilities in London and New York related to business finance, valuation control and complex trade reviews, treasury finance, financial performance and planning, accounting and regulatory policy and disclosure. Previously, Tanguy was Head of Asia Pacific Product Valuation Group at Merrill Lynch Japan Securities in Tokyo from 2006 to 2008, and from 2002 to 2006, served as Head of Product Control and Head of Risk and P&L for Fixed Income & Derivatives at Société Générale in Tokyo and Paris.

Earlier in his career, Tanguy was an associate professor of finance at the University of Aix-Marseille and Marseille Business School. Tanguy has a bachelor’s degree in economics, a master’s degree in applied finance and a Ph.D. in business management from the University of Aix-Marseille.

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.

Contacts

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

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

 


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Source: Apollo Global Management, Inc.

Categories: People