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Ratos Company Aibel wins contract for the construction of unmanned platform on the Norwegian continental shelf

Ratos

Aibel has been awarded a contract by Aker BP for constructing the Munin platform (formerly Krafla) in the Yggdrasil area. The contract has a value of around NOK 7 billion.

The contract is an EPChc contract where Aibel is responsible for engineering, procurement and construction connected with delivering an unmanned process platform, also known as an UPP.

The project will be based on Aibel’s FEED (Front-End Engineering and Design) for Krafla UPP, now Munin, which was awarded in 2021. Key priorities for the project have been safety in design, minimal maintenance requirements and simplification of systems and functions on the platform using high-reliability equipment, automation, and digitalisation, applying a so-called “design to operate” philosophy.

Munin will be the first process platform on the Norwegian continental shelf designed from start for ordinary operation without a crew.

“We will soon close a fantastic year for Aibel. In times of geopolitical unrest and following energy crisis, Aibel contributes to secure energy supply in our part of the world. That, together with the fact that the order book continues to contain many contracts within renewables, means that we are very proud owners today,” says Christian Johansson Gebauer, member of the board of Aibel and President, Business Area Construction & Services, Ratos.

Project management, procurement and engineering services will mainly be carried out at Aibel’s Oslo office, with peak staffing of around 300 people. Construction will take place at Aibel’s yards in Haugesund, Norway and Thailand.

“We are proud and honored to enter into a partnership with Aker BP. With this contract award, we are once again consolidating our position as a leading supplier within critical infrastructure. We really look forward to delivering on the UPP concept, which we have developed together with Equinor, and being among the pioneers of future platform solutions,” says Aibel’s President and CEO, Mads Andersen.

The development of the Yggdrasil area is subject to approval by the Norwegian Parliament (the Storting).

For further questions, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Observe Medical signs exclusivity agreement with Ferrari L. to negotiate acquisition of production facility

Reiten

Ferrari L. has been active in producing and supplying single-use medical devices since 1960 and manufactures various products, including urology sets and catheters. The production facility delivers products to companies worldwide and generated annual revenues of around EUR 2.7 million in the financial year 2021.

The contemplated acquisition of this production facility is, if completed, expected to improve Observe Medical’s value chain control and minimize risks associated with the production of the Company’s products. Additionally, the potential acquisition is expected to significantly reduce the Company’s cost of goods (cogs) for existing and new products. A reduction in cogs would be driven by centralized in-house production, which would lead to an uplift in gross margin.

This production facility is highly complementary to Observe Medical’s current operations, as it has the capacity to produce existing products, Observe Medical’s current portfolio of products and the Unometer™ range of urine measurement products. It would also enable Observe Medical to initiate the development and production of new products.

“Looking back at the recent exclusivity agreement to acquire the Unometer™ range of urine measurement products, the potential acquisition of Ferrari L. is expected to significantly strengthen our growing medtech platform. With access to hundreds of distributors worldwide and production capabilities, these agreements support our growth strategy and demonstrate our ability to execute. Assuming completion of these transactions we will be ideally placed to become a leading urine measurement system provider with production capabilities,” said Rune Nystad, CEO of Observe Medical.

With an exclusivity agreement in place, Observe Medical will aim to close the final acquisition agreement for Ferrari L. in the first quarter of 2023. The completion of the acquisition of Ferrari L. is amongst other conditional upon agreement between the parties on a final transaction agreement and completion of such agreement. Consequently, no assurance can at this stage be given that the acquisition of Ferrari L. is completed.

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Apollo Funds Provide $200 Million to WEC Energy Group Renewable Portfolio

Apollo Financing Supports WEC Energy’s Renewables Strategy

NEW YORK and MILWAUKEE, Dec. 15, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and WEC Energy Group (NYSE: WEC) today announced that certain Apollo-managed funds (the “Apollo Funds”) have purchased approximately $200 million of senior secured notes of WEC Infrastructure Wind Holding II LLC (“Wind Holding”) in a private placement. Wind Holding, a wholly owned subsidiary of WEC Energy Group, owns the Tatanka Ridge and Jayhawk wind farms, which together provide 340 megawatts of renewable power generation and are fully contracted under long-term PPAs with high-quality offtakers.

Shawn Robinson, Partner and Co-Head of Private Fixed Income at Apollo, said, “We are pleased to provide an investment grade private capital solution to a WEC Energy affiliate on behalf of our clients. This high-quality investment supports significant renewable wind energy generation, and we expect to continue growing our relationship with WEC’s clean energy affiliates.”

Wind Holding is part of WEC Energy Group’s nonutility energy infrastructure business, which has agreements in place for majority ownership interests in wind and solar generating facilities that are capable of producing more than 1,700 megawatts of energy. These projects support WEC Energy Group’s aggressive environmental goals and commitment to building a bright, sustainable future that is affordable, reliable and clean.

For Apollo, the transaction aligns with its cross-platform collaborative approach and focus on private fixed income assets suitable for a broad range of clients. The investment also underscores Apollo’s commitment to driving a more sustainable future, including by funding renewable and energy transition assets and companies.

MUFG served as financial advisor to WEC Energy Group on the transaction. “This is MUFG’s second project finance engagement with WEC, and we look forward to continuing our partnership in support of WEC’s effort to build out its portfolio of renewable-energy projects,” said Fred Zelaya, Managing Director of Project Finance with MUFG.

About Apollo
Apollo is a global, high-growth alternative asset manager. In the asset management business, Apollo seeks to provide its 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, Apollo’s investing expertise across its fully integrated platform has served the financial return needs of its clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo’s retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Apollo’s patient, creative, and knowledgeable approach to investing aligns its clients, businesses it invests in, its team members, and the communities it impacts, to expand opportunity and achieve positive outcomes. As of September 30, 2022, Apollo had approximately $523 billion of assets under management. To learn more, please visit www.apollo.com.

About WEC Energy Group
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation’s premier energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.

The company’s principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in the Midwest.

WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 38,000 stockholders of record, 7,000 employees and more than $40 billion of assets.

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

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

WEC Energy Group Contacts
Beth Straka
Senior Vice President – Investor Relations
and Corporate Communications
414-221-4639
Beth.Straka@wecenergygroup.com

Brendan Conway
Director Media Relations
414-221-3728
Brendan.Conway@wecenergygroup.com

MUFG Contact

Assaf Kedem
Vice President, Corporate Communications
(212) 782-4926
akedem@us.mufg.jp


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Source: Apollo Global Management, Inc.

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Consortium led by Capital A acquires Hampden Insurance Group in the Netherlands

Capital-A

On the 9th of December, a group of investors led by Capital A acquired Hampden Insurance Group B.V. (HIG) from Hampden Holdings Ltd. Maas Lloyd, a non-life insurance company, falls under the Hampden Insurance Group. With this acquisition, Maas Lloyd strengthens its position as a nationwide insurance company with a focus on MGA’s and run-off business. The CEO of Maas Lloyd, Elbert-jan Offereins, said the following: “The acquisition of HIG by the consortium fits perfectly with our long-term (growth) ambitions. By bundling our forces, we can strengthen our position in the market and serve our clients in a better manner going forward. Through this acquisition, Maas Lloyd fall back into Dutch hands, which is the first time since its inception in 1984”. The investors of the consortium have acquired 100% of the outstanding shares of HIG. The name Hampden Insurance Group shall be changed to Halcyon Insurance Group going forward and shall remain active as a holding company for Maas Lloyd and other daughter companies.

The consortium is led by Capital A, an investment company active in the Netherlands. Friso Janmaat, the managing partner of Capital A, said the following on the transaction: “Acquiring an insurance company has been on our wish list for a long time. We believe in the strategy that HIG has and trust that they can expand their current activities in the Dutch non-life insurance market with our help.”

HIG will continue to operate with the same workforce, which means that no changes will take place with regards to the main points of contact for business.

Maas Lloyd

N.V. Schadeverzekeringsmaatschappij Maas Lloyd is a non-life insurance company that has been offering run-off services since 2002 and started up business as an active commercial insurer since 2019. Maas Lloyd does so focused on SME companies and private individuals, mainly through MGA’s.

Capital A

Capital A is one of the most established private equity investors in the Netherlands, with a focus on investing in fast (both autonomous and acquisitive) growing companies. Originally started at ABN AMRO in the 1980’s as an investment fund focused on SMEs, Capital A continued independently in 2018 with support from investors such as ABN AMRO, Five Arrows, Alpinvest, Bregal, LGT, entrepreneurs of former portfolio companies and the Capital A team itself. From offices in Amsterdam and Antwerp, Capital A manages approximately EUR 1 billion in assets under management and has a portfolio of more than 30 growth companies that are predominantly active in Europe.

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Equistone strengthens ESG support for portfolio companies with trio of local hires

Equistone

Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity investors, today announces the appointment of three ESG Managers in Q4 to help drive the firm’s sustainability objectives across each of its core European markets. Based locally in London, Paris and Munich, these new hires will work closely with Equistone’s investment teams to support long-term value creation and manage ESG risks, both within the existing portfolio and for new investment opportunities.

Jessica Clavette has joined Equistone’s London office to help implement industry-leading ESG standards across the UK portfolio and brings over 12 years of experience across five countries advising on environmental and social sustainability issues and trends. She joins from the sustainability consultancy Sancroft, where she supported corporations and financial institutions in responding to emerging regulation and developing sustainability strategies. There she focused on working with private market firms to implement ESG practices across the investment lifecycle. Previously a consultant at both Aleron Partners and Farnam Associates, Jessica also possesses expertise in impact measurement and management, sustainable operating models and cross-sector collaborative initiatives. Prior to her time in consulting, she worked on and led several high-impact projects focused on addressing societal challenges in the US, Australia and the UK. She studied Political Science at the University of Vermont and second-majored in Economics. Jessica holds a certificate in ESG investing from the CFA Institute.

Diane Vignalou has been appointed to the firm’s Paris office, where she will likewise work closely with the local investment team to support the integration of ESG best practice into the investment process and value-creation strategies. Diane previously worked at the sustainability-focused research and consulting group EthiFinance, where she developed ESG solutions for private equity, private debt and VC investors and conducted ESG due diligence on private companies. Before EthiFinance, Diane gained experience as an M&A analyst at Sycomore Corporate Finance and as a financial auditor at KPMG and graduated ‘cum Laude’ from Sciences Po with a Master’s in Finance & Strategy.

Completing these hires, and providing the additional resource to implement best-in-class ESG standards across portfolio companies in the DACH/NL region, is Sophia Nicol, who has joined Equistone’s Munich office. Sophia brings eight years of experience in sustainability consulting.  She previously worked at EY as a Manager in the Sustainability Service Practice and advised companies in various industries on their sustainability strategy and management as well as non-financial reporting.  Before that, Sophia gained experience at the Chair of Management & Sustainability at the University of Hamburg, in the sustainability department of an industrial company, and in consulting at sustainable AG, a strategy and management consultancy focused on sustainability, corporate responsibility and carbon management. She holds a Master’s degree in Business Administration from the University of Hamburg and a Bachelor’s degree in Business Administration and Economics from the University of Passau.

Christiian Marriott, Partner and Head of Investor Relations at Equistone, commented: “ESG analysis and considerations are firmly embedded across our investment and portfolio management processes, with all our team members responsible for thinking about sustainability. We therefore felt that the best way to drive further improvements was to add specialist, dedicated resource into our deal team. That approach is true to Equistone’s model of having local people in local markets, and we are excited to have them on board.”

Equistone is a signatory to the United Nations Principles of Responsible Investment (UNPRI) and the Initiative Climate International (formerly iC20 Climate Initiative). Previous initiatives to drive continuous improvement in the area of responsible investing have included appointing PwC to develop an ESG assessment tool to identify ESG risks for new investments and portfolio companies.

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Categories: People

Inflexion announces Partnership Capital minority investment in YER

Inflexion

Inflexion is pleased to announce it has agreed to make a minority investment into YER, a leading Netherlands-based specialist secondment and recruiting agency. The investment is Inflexion’s second in the Netherlands in the last 12 months following its investment into e-bike component manufacturer enviolo in March 2022. The investment is being made by Inflexion’s dedicated minority investment fund, Partnership Capital II.

Founded in 1987, YER offers high scarcity talent in undersupplied fields such as engineering, IT, public sector and finance to a range of specialist end market verticals. The business has over 950 clients including ASML, Bosch, DAF, KLM, VDL and Rabobank, and operates internationally from nine local offices in the Netherlands, four in the USA and one in Belgium. Inflexion has deep experience in this sector following investments in FDM, K2 Partnering Solutions, Red Commerce, Sparta and Calco.

Working closely with the founder of YER, Jaap Kooijman, and the management team led by CEO Johan Overgaauw, Inflexion will support the growth of the business by further developing existing and new customer relationships and through continued international expansion, both organically as well as through selective M&A.

We are delighted to have partnered with Jaap and Johan and the broader team at YER and look forward to using our strong sector expertise to support them with their ambitious plans. They have built a fantastic business and we are really impressed with the growth journey that YER has been on so far. Our unique minority capital offering will allow them to keep control, whilst having the added benefit of access to Inflexion’s extensive experience of building market leading international companies.

David Whileman,Head of Partnership Capital, Inflexion

This is a really exciting opportunity for YER and the continued potential for the business in both the Netherlands and internationally is huge. We are confident that Inflexion is the right partner for the next stage of our growth and have been impressed with their global presence and sector knowledge, whilst benefiting from a local presence in the Dutch market. This partnership will allow us to continue building out YER, and we can’t wait to get started.

Johan Overgaauw, CEO,

YER

The transaction is subject to customary regulatory approvals and is expected to close in Q1 2023. 

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Laurent Mignon succeeds André François-Poncet on the board of Directors of Bureau Veritas as of december 15TH, 2022

Wendel

After leaving Wendel on December 2, André François-Poncet tendered his resignation from the Board of Directors of Bureau Veritas at the end of the Board meeting held today.

As a result, the Board of Directors of Bureau Veritas, which met today under the chairmanship of Aldo Cardoso, has appointed Laurent Mignon as a non-executive director and nominated him as Vice-Chairman of the Board of Directors and Chairman of the Strategic Committee, with effect from today.

Laurent Mignon, who became Chairman of Wendel’s Executive Board on December 2, 2022, will succeed André François-Poncet for the remainder of the latter’s term of office on Bureau Veritas’ Board of Directors. This runs until the end of the Shareholders’ Meeting held to approve the 2024 financial statements.

The Board of Directors of Bureau Veritas warmly thanked André François-Poncet for his contribution as Chairman of the Strategic Committee and for his involvement in the work and discussions of the Board of Directors.

About Laurent Mignon
Laurent Mignon has been Chairman of the Executive Board of Wendel since December 2, 2022. He also sits on the Board of Directors of Arkema and is a non-voting member of the Board of Oddo BHF. Previously, Laurent Mignon held positions with Groupe BPCE from 2009 to 2022. He was Chief Executive Officer of Natixis and a member of the General Management Committee of BPCE (including a member of the Executive Board from 2013) from 2009 to May 2018 and Chairman of the Executive Board of Groupe BPCE from May 2018 to December 2022. He has also served as Chairman of the Board of Directors of Natixis and as a director of CNP Assurances and as a non-voting member of the Board of Fimalac.

After graduating from HEC in 1986 and completing the Stanford Executive Program, Laurent Mignon worked for more than 10 years for Banque lndosuez, first in capital markets and then in corporate and investment banking. In 1996, he joined Schroders Bank in London, before joining AGF (Assurances Générales de France) in 1997 as Chief Financial Officer. He was appointed to the Executive Committee of AGF in 1998, becoming Deputy Chief Executive Officer in charge of Banque AGF, AGF Asset Management and AGF lmmobilier in 2002, then in charge of life insurance and financial services and credit insurance in 2003. In 2006, he was appointed Chief Executive Officer and Chairman of the Executive Committee. From 2007 to 2009, he was Managing Partner at Oddo & Cie.

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Finnvera calculated the CO2 emissions of the ship finance – The pandemic still affected the cruise industry and the CO2 calculation

Finnvera

Risteilyalus saaristossa.

Finnvera has, for the second time, calculated the carbon intensity of the ship finance portfolio according to the Poseidon Principles climate alingnment agreement. The climate alignment score is 57.3% above the decarbonisation trajectory based on the International Maritime Organisation, IMO’s, initial climate goals for the international shipping. The score differs significantly from the previous year, when the score was 7% below the international trajectory. The score still reflects the impacts of the pandemic, which affected the operating of the ships.

The Poseidon Principles members are leading ship financiers, such as international banks, but there are export credit agencies among them. The principles are consistent with the policies and ambitions of the International Maritime Organization, including its ambition to reduce shipping’s total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050. Commitment to the Poseidon Principles is a concrete step in Finnvera’s sustainability and corporate responsibility.

“We calculated the CO2 emissions of our ship finance portfolio for the second time. The score differs significantly from the previous year, partly due to the calculating method. We believe that in the future the score will better correspond to the impact of our ship finance portfolio. We expect next year to be a more stable year for the cruise industry as well as for the CO2 calculation, when the ships will again operate in full capacity”, says Excutive Vice President Jussi Haarasilta.

This is how carbon intensity is measured according to Poseidon Principles

Poseidon Principles measures carbon intensity. The data based on which the overall climate alignment score is calculated is distance travelled, amount of fuel consumption for each fuel type, and size of the vessel. The outstanding debt per vessel also play a role when calculating the weighted average of the scores.

The calculation is based on a formula that takes into account the distance traveled by the vessels during the year. Regarding the calculation, the previous years, especially year 2020, were exceptional due to the pandemic, when cruise ships stayed mainly in ports, but maintenance still produced emissions. Finnvera already got below the target level for the ship finance CO2 emissions, which was positive and reflects the fact that as an export credit agency, Finnvera primarily finances new projects, better technology with fewer emissions.

The CO2 level being reported now has been calculated from the 2021 data, when the pandemic still affected the cruise industry to some extent, although cruise shipping started to recover and ships returned to operate.

Transparency and comparability in export financing is important

The shipyard cluster is significant in Finland, and approximately half of Finnvera’s EUR 23 billion export credit guarantee exposure is related to ship cluster. The share of drawn ship exposure is EUR 6.4 billion (Q3/2022).

”Poseidon Principles have brought measurability and comparability to the monitoring of the climate impacts of Finnvera’s ship finance. Approximately half of Finnvera’s export credit guarantee exposure is related to cruise shipping cluster. Considering the scale, the climate alignment score gives us valuable information about the climate impact of our financing and that of the shipping industry. It also supports assessing the impact of Finnvera’s own operations. We wish to thank our customers for providing the information needed and thereby enabling the monitoring of the CO2 emissions of our ship portfolio.”

”Mitigating climate change is at the core of Finnvera’s strategy. As an export credit agency, Finnvera has good opportunities to influence the development of climate solutions, as we essentially finance new technology with fewer emissions. We believe that in the future there will be less volatility in Finnvera’s climate alignment score”, Jussi Haarasilta says.

Further information:

Jussi Haarasilta, Executive Vice President, Finnvera plc, tel. +368 29 460 2601

Poseidon Principles report 2022 (PDF)

The Poseidon Principles

The Copenhagen-based Poseidon Principles, launched in June 2019, are developed by leading international shipping banks, international industry players and academic institutions as well as export credit agencies. 30 Signatories from 13 different countries together represent over 65% of the global ship finance portfolio. Finnvera became signatory to the Poseidon Principles in April 2021. Among the Signatories, there are also export credit agencies of other countries.

Read more and see previous reports: www.poseidonprinciples.org

Read also:

The Finnish marine industry intends to win the ship development race

2021:

Finnvera calculated the CO2 emissions of the ship finance – The climate alignment score for the year 2021 is below the international trajectory

Finnvera becomes signatory to the Poseidon Principles to measure the greenhouse gas emissions of ship finance

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Strata Identity Partners With HYPR to Accelerate Elimination of Passwords

.406 Ventures

BOULDER, CO and New YORK, NY – December 15, 2022 — Strata Identity, the Identity Orchestration Company, and HYPR, the Passwordless CompanyTM, today announced a partnership that enables phishing-resistant MFA to be added to any modern, legacy, or custom application without rewriting the source code. This unique capability is made possible via an abstraction layer that decouples identity and authentication from the identity system and applications to deliver the strongest levels of authentication security.

According to a 2022 Forrester survey, 67 percent of respondents are in the process of adopting passwordless security in their organizations. Passwordless protection is needed across all access points, including legacy applications that may have been neglected or overlooked in the past. Now, through this integration with HYPR and Strata, organizations with older, outdated systems will be able to get the benefits of passwordless authentication security assurance and a frictionless, password-free user experience. This agreement brings together Strata’s specialization in Identity and Policy Orchestration with HYPR’s proven True Passwordless™ authentication expertise. Together, Strata and Hypr customers can overcome the traditionally challenging hurdle of adding MFA to legacy applications — even those tied to directory-based passwords.

Passwordless authentication has been identified as the gold standard for authentication. The Cybersecurity and Infrastructure Security Agency (CISA) released a new “Phishing Resistant MFA Fact Sheet” that calls out the immediate need for fully passwordless protection of every app in critical risk sector organizations, regardless of app type. It also recommended this level of authentication security for organizations in every sector and every application in their organization’s environment, regardless of whether it speaks modern authentication protocols.

“Legacy MFA technologies are failing, at scale, and leaving serious security gaps due to insecure authentication methods costing organizations an average of $2.19M per year as detailed in the latest State of Authentication report, ” said Bojan Simic, CEO and CTO at HYPR. “To get the highest levels of authentication security, organizations need to adopt passwordless MFA. HYPR’s integration with Strata technology is exciting because it now enables customers to extend HYPR’s passwordless authentication solution to legacy applications without coding, radically simplifying and accelerating an organization’s passwordless deployment.”

As part of the joint integration, Strata’s Maverics identity orchestration platform enables HYPR’s True Passwordless security platform to function as the passwordless authenticator with any combination of IdPs and support both on-premises and cloud identity systems. In addition, HYPR can be used with any app, including modern, legacy, and custom-developed programs, without making any modifications to its source code. Maverics also provides transparent journey-time orchestration that allows HYPR registration and user onboarding to be inserted within existing application access workflows.

“Forward-looking organizations are moving to passwordless authentication to protect their web applications in the cloud, but what about their legacy and custom applications? They must be modernized first, which traditionally means manually re-coding each app one by one,” said Eric Olden, CEO of Strata Identity. “This partnership with HYPR removes the need to rewrite legacy applications and systems to support passwordless simplifying the process for deploying modern authentication across a company’s entire environment.”

Availability

The integrated Strata Identity and HYPR passwordless solution is available immediately from both Strata and HYPR.

About Strata

Strata Identity is the leader in Identity Orchestration for hybrid and multi-cloud environments. The orchestration recipe-powered Maverics platform enables organizations to connect and control incompatible identity systems without changing the user access experience. By decoupling applications from identity, Maverics makes it possible to implement modern authentication like passwordless and enforce consistent access policies without refactoring source code. The company’s founders created the IDQL (Identity Query Language) standard and Hexa open-source software for multi-cloud policy orchestration and are co-authors of the SAML standard for SSO federation. For more information, visit us on the Web and follow us on LinkedIn and Twitter.

About HYPR

HYPR fixes the way the world logs in. HYPR’s True Passwordless™ MFA platform decouples authentication from the organization’s identity providers and eliminates the traditional trade-off between security and user experience by providing uncompromising assurance and consumer-grade experience. By eliminating the password and deployments taking hours rather than weeks or months, organizations decrease the risk of a cyber attack, increase positive user experience, and lower operational costs.

Welcome to The Passwordless Company®. Additional information is available at https://www.hypr.com

Contact

Marc Gendron
Marc Gendron PR for Strata
+1-617-877-7480
marc@mgpr.net

HYPR
Carol Dullmeyer
Vice President, Brand and Corporate Communications
carol.dullmeyer@hypr.com

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A new EUR 60 million fund by Saari Partners, focus on service companies

Tesi

The new fund, Saari II, will make majority investments in service SMEs operating in traditional sectors. With special knowhow in branding and digitalisation, Saari Partners strives making its portfolio companies the frontrunners in their sectors.

Investors in Saari II include European Investment Fund (EIF), Nordea Life Assurance Finland Ltd, Elo Mutual Pension Insurance Company, Konstsamfundet, Tesi and the KRR fund-of-fund it manages, in addition to small investors. The fundraising continues in 2023.

”Saari Partners invests in growing Finnish small companies focusing on the service sector. It has gotten a good start, and their first exit shows that their investment strategy is showing results. Saari has excellent know-how in digitalization and branding, and this is transferred to their portfolio companies”, comments Tapio Passinen, Investment Director on Tesi’s Investment Funds team.

Both Tesi and KRR also invested in the first fund by Saari Partners.

 

Read more:

 

Additional information:

Tapio Passinen, Investment Director, Fund Investments
tapio.passinen@tesi.fi
+358 40 840 3681

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