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KKR Announces Offering of Mandatory Convertible Preferred Stock

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has commenced an offering of $1.5 billion (30,000,000 shares) of its Series D Mandatory Convertible Preferred Stock, par value $0.01 per share (the “mandatory convertible preferred stock”), subject to market and other conditions (the “offering”). KKR expects to grant the underwriters a 30-day option to purchase up to an additional $225 million (4,500,000 shares) of mandatory convertible preferred stock, solely to cover over-allotments, if any.

KKR intends to use the net proceeds from the offering for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment and for other general corporate purposes.

Each share of mandatory convertible preferred stock will have a liquidation preference of $50.00 per share. Unless earlier converted at the option of the holders, each share of mandatory convertible preferred stock will automatically convert into a variable number of shares of common stock on or around March 1, 2028. The conversion rates, dividend rate and the other terms of the mandatory convertible preferred stock will be determined at the time of pricing.

Morgan Stanley & Co. LLC and KKR Capital Markets LLC are acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email to prospectus@morganstanley.com; and KKR Capital Markets LLC, by telephone at (212) 750-8300 or by email to ECMCapitalMarkets@kkr.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the mandatory convertible preferred stock or any other securities, and shall not constitute an offer, solicitation or sale of the mandatory convertible preferred stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
Tel: + 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

 

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Systems Planning & Analysis (SPA), an Arlington Capital Partners Portfolio Company, Completes Acquisition of Proximity Advisory Services

Proximity is Market Leader in Consulting, Legal, and Commercial Services to Government

ALEXANDRIA, VA – March 4, 2025 – Systems Planning & Analysis (SPA), a leading global provider of data- driven analytical insights supporting complex national security programs and defense priorities, has acquired Proximity, a leading Australian provider of consulting, legal, and commercial services to government. Proximity joins SPA Australia, a wholly owned subsidiary of Systems Planning & Analysis.

The acquisition of Proximity significantly expands SPA’s international footprint and presence in the Australia market. Proximity adds mission-critical clients across whole of government and major Commonwealth public sector agencies in Australia, including Department of Defence, Department of Home Affairs, Australian Taxation Office, Department of Health Services Australia, and Department of Social Services.

With the acquisition, SPA’s service offerings in Australia will expand in the areas of change management, procurement and contract management, program and project management, public law and legal support services, and business cases and cost modeling.

SPA CEO Rich Sawchak commented, “Proximity is a sought-after and highly respected multidisciplinary government consultancy with an impressive client list. Its strong consulting, legal, and commercial practice areas broaden our capabilities and reinforce our commitment to Australia, where we have supported major clients since 2010. We are thrilled to expand our success globally, and we wholeheartedly welcome our new and talented Proximity team members.”

SPA Australia and Proximity are headquartered in Canberra, with Proximity also located in Melbourne and Adelaide.

Zoe Lynam, Proximity’s CEO, with over 15 years working in executive and general management roles, will take the helm as Managing Director, SPA Australia, and Group Leader of the Australia Group, reporting to SPA Senior VP and Sea, Land, Air Division Director Dave Duryea.

SPA President Terry Benedict (VADM, USN, Ret.) added that “Proximity brings a leadership team that understands Australia’s defense issues at a critical time for strategic considerations in the Pacific theater. I look forward to working with Zoe and her team to expand our advisory and analytic support for our defense-focused clients as well as to provide new services through each of Proximity’s practice areas.”

Zoe Lynam stated “We’re proud of the strong reputation we’ve earned in the Australian market, and SPA is a natural fit given our shared commitment to integrity and client service. We are honored and excited to share our deep, mission-critical expertise with a global company of SPA’s caliber.”

David Wodlinger, a Managing Partner at Arlington Capital, said “SPA’s acquisition of Proximity brings cutting-edge capabilities, approaches, and expertise that will enhance SPA’s position as the trusted partner of choice for the defense community and whole of government clients. This is an excellent match that further solidifies SPA’s reputation for quality.”

 

About SPA

SPA is a premier, independent global advisory and technical services firm supporting complex national security programs and defense priorities. SPA’s portfolio of differentiated capabilities and tools delivers comprehensive support to the most critical programs for combatting threats, influencing long-term strategic priorities, and shaping policies at the highest levels. With over 2,200 professionals, SPA’s employees are subject matter experts in numerous domains, including Land, Undersea, Surface and Air Warfare Operations; Intelligence Community, Radar and Sensor Systems; Unmanned Systems and Counter Systems; Defense Industrial Base and Economic Security; Space Systems; Ballistic Missile Systems; Cybersecurity Analysis and Policy; and Hypersonics. Awards include GovCon Contractor of the Year in 2022, Washington Post Top Workplace consecutively since 2014, and Department of Labor HIRE Vets Gold Medal for the past seven consecutive years. SPA is a portfolio company of Arlington Capital Partners. For more information: www.spa.com.

 

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. The firm partners with founders and management teams to build strategically important businesses in the healthcare, government services & technology, and aerospace & defense sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at www.arlingtoncap.com and follow Arlington on LinkedIn.

 

 

Contacts

Systems Planning & Analysis (SPA)

Sue Nelowet, Director of Communications

snelowet@spa.com

 

Arlington Capital Partners

Ryan Fitzgibbons and Meredith Bishop

Pro-arlington@prosek.com

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Ardian and Rockfield complete a new investment in Bologna (Italy) with Pan-European Student Accommodation Strategy

Ardian

Ardian, a world-leading private investment house, and Rockfield Real Estate, a vertically integrated living platform, announce that they have completed a new investment as part of their pan-European strategy dedicated to Purpose-Built Student Accommodation (PBSA), following their first investment in Florence last November and a recent one in Barcelona.

The building is a highly innovative and sustainable newly constructed property located at Via Serlio 26/2, in the center of Bologna, just 10 minutes from the central station and easily reachable from the city’s university district.

The seller, Stonehill, completed construction of the property in 2022. Stonehill was one of the first entrants in the Italian PBSA sector and has delivered 1100 rooms to date. It is also active in the Austrian and German student markets. It is about to start construction of two further student developments in leading Italian University cities, totaling 1050 rooms and has secured several further pipeline projects at an earlier stage in the planning process.

The student residence, which meets the highest international standards and is LEED Gold certified, spans 16 above-ground floors and a basement, with a total area of approximately 20,000 sqm. It accommodates over 500 beds, with an occupancy rate close to 100%.

Students can enjoy various common areas such as a lounge, study rooms, service areas, reception, mailroom, gym, cinema room, yoga room, and laundry. The rooms are structured as fully self-contained studio apartments, with a private kitchen and bathroom. The property, designed by TP Bennet, a leading UK firm specializing in student residences, features modern and welcoming interior design with spaces characterized by natural light to ensure maximum comfort for the students.

The Bologna asset marks the third acquisition by Ardian and Rockfield in line with their strategic focus on major university cities across Europe. This is supported by an active investment pipeline in Italy, the Netherlands, Spain, Germany, and France, along with approximately €800m of dry powder, aimed at building a high-quality student housing portfolio. The student residence sector is one of the main real estate segments requiring significant intervention to bridge the gap between growing demand from university students and the existing supply. Italy has one of the lowest supplies of student housing in Europe and is seeing a steady increase in student numbers, a progressive rise in university enrollments, and an influx of international students.

“Our vision is to develop a pan-European portfolio of modern, sustainable, and innovative student residences that meet the needs of students who are increasingly focused on quality of life and the environment. We invest in facilities that offer functional living spaces and create stimulating, collaborative environments to promote students’ well-being. With our commitment to key university cities such as Bologna, we aim to invest in cutting-edge projects and provide our investors with a high-return asset class”. Rodolfo Petrosino, Head of Real Estate Southern Europe, Ardian

“The student accommodation sector in Italy has been experiencing strong growth in recent years, with international student numbers increasing by an average of 7.3% over the last five years. University cities, such as Bologna, are at the center of this growing demand, creating a unique opportunity for investments in modern, sustainable facilities that meet the needs of a new generation of students. Bologna alone hosts over 100,000 students annually, with an increasing number of international students drawn not only to our country’s artistic beauty but also its affordable living costs and high-quality education”. Matteo Minardi, Head of Real Estate Italy and Managing Director, Ardian

“From an investment perspective, this asset is a perfect fit for our portfolio strategy. It enhances our geographic diversification, balancing exposure across established and emerging European university markets. With Laude Living Bologna’s premium positioning and best-in-class amenities, we anticipate stable occupancy rates and strong rental yields, driving long-term income growth and capital appreciation”. Juan Acosta, Partner & CIO, Rockfield

“The acquisition of Laude Living Bologna perfectly aligns with our evergreen fund’s growth model. Our long-term investment horizon and the perpetual nature of our fund provides the flexibility to hold premium assets indefinitely, maximizing value over time and delivering reliable, risk-adjusted returns”. Josep Franch Bellmunt, Investment Director – Southern Europe, Rockfield

The pan-European investment strategy dedicated to Purpose-Built Student Accommodation (PBSA) was born from the partnership between Ardian and Rockfield, with a significant initial commitment from CBRE Investment Management.

List of participants

  • Participants

    • Legal and administrative due diligence: PedersoliGattai
    • Technical due diligence: Yard Reaas
    • Tax due diligence: Fivers

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $177bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT ROCKFIELD REAL ESTATE

Rockfield was established in 2014 with a clear mission to create high quality and sustainable housing solutions for young professionals and students in urban areas. Our founders recognised the growing demand for affordable housing in major cities, coupled with an increasing need for innovative living concepts that not only provide a place to live but also enable residents to grow and thrive within a community.
With this vision in mind, Rockfield started a journey to build a fully integrated real estate company. From the start, we chose to keep all aspects of real estate management in-house, from project development and acquisition to investment and property management. This approach has allowed us to offer tailored solutions that meet needs of both investors and tenants.
Since our inception, we have experienced impressive growth and evolved into a leading investment manager with a portfolio of over €1 billion in assets under management and around 5,000 housing units across various European cities.

www.rockfield.nl

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

ROCKFIELD REAL ESTATE

Steve.hays@belliercommunication.com

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Green Courte Partners Expands Active-Adult Portfolio with Colorado Acquisition

Green Courte Partners

Chicago, Illinois (March 4, 2025) – Green Courte Partners, LLC (GCP), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its sixth investment fund, Green Courte Real Estate Partners VI, LLC and its affiliates, has acquired 55 Resort at Water Valley, a 120-unit active-adult community located in Windsor, Colorado, just north of Denver in the Water Valley master-planned development. This acquisition expands GCP’s national senior living portfolio, managed by its wholly owned operating platform, True Connection Communities, to 21 communities with approximately 3,300 units.

“We are excited to expand our portfolio and establish a presence in the Colorado market with the acquisition of 55 Resort at Water Valley, soon to be rebranded as Eagle’s Peak at Water Valley,” said Matt Pyzyk, managing director at GCP. “This community was a key target for us due to its prime location within the high-growth corridor between Denver and Fort Collins. Its extensive amenities and integration into the Water Valley master-planned community provide an exceptional lifestyle environment for active adults 55 and older. We remain committed to acquiring similar communities as we grow our active-adult portfolio.”

Brad Florin, a counterparty in the transaction, stated, “Having known the GCP leadership team since the community was developed in 2019, we are pleased to finalize this transaction with them. They moved swiftly, met our timeline, and ensured a seamless process.”

About Green Courte Partners

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors. The firm has active investments in the following sectors: active-adult/independent senior living, land-lease communities, industrial outdoor storage, and near-airport parking. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at GreenCourtePartners.com.

About True Connection Communities

True Connection Communities operates a high-quality portfolio of 21 active-adult and independent senior living communities, containing approximately 3,300 units located in 13 states, to meet the growing needs of Americans over the age of 55 seeking an active and engaged lifestyle. To deliver an exceptional resident experience, the company focuses on five key offerings: custom-designed fitness and wellness programs, creative chef-prepared meals made with the freshest seasonal ingredients, social activities designed for a life on the move, innovative educational programs, and state-of-the-art technology. To learn more, visit TrueConnectionCommunities.com.

Investor contact:
Marnie Helfand
(312) 966-4747
MarnieHelfand@GreenCourtePartners.com

Media contact:
Robert Dekker
(312) 966-3816
RDekker@GreenCourtePartners.com

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Flexera Completes Acquisition of NetApp’s Spot FinOps Portfolio

Thomabravo

With this acquisition, Flexera now has the most comprehensive FinOps offering in market

Itasca, IL and San Jose, CA—Flexera, the global leader in technology spend and risk management, today announced it has completed the acquisition of Spot from NetApp (NASDAQ: NTAP), the intelligent data infrastructure company. The acquisition is Flexera’s latest step towards offering a comprehensive set of solutions to help organizations confront growing cloud cost and usage hurdles, especially as the consumption of artificial intelligence (AI) surges and strains cloud budgets.

With this acquisition, Flexera expands its leading Cloud Financial Management offering into a suite of AI-powered FinOps technologies and enhances the value of these offerings by expanding its partner ecosystem. This newly bolstered FinOps portfolio from Flexera allows organizations and managed service providers (MSPs) to manage cloud financial commitments, automate billing and invoicing, reduce workload costs and optimize containers. Flexera FinOps aligns with the expanding scope of FinOps to include data centers, SaaS and public cloud, while also supporting enhanced use cases such as software licensing and sustainability.

“The need for FinOps and cloud cost optimization has never been greater, as critical AI initiatives create more urgency for boards and C-suites to effectively contain swelling cloud and IT spend,” said Jim Ryan, President and CEO of Flexera. “We believe that by bringing Spot and its core products into the Flexera FinOps portfolio, we are now the most comprehensive provider in the space. This also complements our leading positions in IT Asset Management and SaaS Management.”

The Spot business adds new capabilities to Flexera’s FinOps solution with Kubernetes cost management and accelerates innovation in container management, spot cloud instances and commitment management. Spot’s main product lines include:

  • Spot Eco helps organizations unlock the full value of their cloud services with a series of cloud commitment management features, ensuring organizations capture critical savings from reserved instances, savings plans or committed usage discounts across Amazon Web Services, Microsoft Azure and Google Cloud Platform.
  • Spot Ocean is a Kubernetes infrastructure management product that provides continuous optimization of containers for cost, performance and availability.
  • Spot Elastigroup allows organizations to scale their workloads and maximize the value of their cloud investments with spot instances and virtual machines.
  • CloudCheckr is a powerful cloud cost management tool allowing enterprise, MSPs and distributors to manage and reduce cloud costs, optimize resources and gain operational efficiencies, manage billing and invoicing, improve governance, and strengthen security and compliance.

These solutions are accompanied by a robust portfolio of policy-based best practice checks for cost, security, governance and compliance.

“The completion of this transaction further hones our focus of our Public Cloud business. Our highly differentiated first party and marketplace cloud storage services are complemented by intelligent data and operational services such as Data Infrastructure Insights and Instaclustr. These services, in concert with our Hybrid Cloud products, enable customers to build a seamless intelligent data infrastructure across hybrid multi-cloud,” said Haiyan Song, Executive Vice President, Intelligent Operations Services, at NetApp. “We believe that Flexera is the right environment for Spot portfolio of solutions, employees and customers to thrive.”

Flexera’s integration of Spot also creates new opportunities for partners – particularly MSPs and distributors – to develop or enhance their own FinOps services. With Flexera, partners have a chance to tap into a broader portfolio of technologies and specialists, while building value-added services that cover the expanded definition of FinOps to include ITAM and software licensing, SaaS management, AI spend management and more.

“Flexera customers can expect to gain in capabilities and a richer portfolio, such as a whole slew of advanced purchase commitment automation and container cost management and optimization capabilities,” wrote Tracy Woo at Forrester in a recent blog post. “The Spot acquisition is a boon for Flexera both in market presence with CloudCheckr’s dominant channel presence and with the added capabilities of Spot’s Eco (purchase commitments), Elastigroup (spot automation), and Ocean (container management), which all fill major gaps.”

Flexera recently achieved a new FinOps certification milestone, and now has the largest group of FinOps-certified practitioners in the world. The company also made a significant investment in its partner program, with an emphasis on expanding its support for MSPs. These events continue to reinforce Flexera’s proven leadership in FinOps, ITAM and SaaS Management.

About Flexera

Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement and cloud teams to address skyrocketing costs, optimize spend, mitigate risk and identify opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.

About NetApp

NetApp is the intelligent data infrastructure company, combining unified data storage, integrated data, operational and workload services to turn a world of disruption into opportunity for every customer. NetApp creates silo-free infrastructure, harnessing observability and AI to enable the industry’s best data management. As the only enterprise-grade storage service natively embedded in the world’s biggest clouds, our data storage delivers seamless flexibility. In addition, our data services create a data advantage through superior cyber resilience, governance, and application agility. Our operational and workload services provide continuous optimization of performance and efficiency for infrastructure and workloads through observability and AI. No matter the data type, workload, or environment, with NetApp you can transform your data infrastructure to realize your business possibilities. Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

 Read the release on the Flexera website here.

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Novo Holdings participates in $187 million Series A launch financing for Callio Therapeutics to advance innovative dual-payload ADC programs in oncology

Novo Holdings

Investment builds on Novo Holdings’ existing ADC portfolio, leveraging Hummingbird Bioscience’s cutting-edge ADC technology platform.

Newly formed company’s groundbreaking dual-payload ADC programs designed to overcome limitations of existing single-payload therapies.

SINGAPORE and SEATTLE – [March 3, 2025]– Novo Holdings, a leading life science investor today announced that it has invested in a $187M Series A launch financing for Callio Therapeutics, a biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy. In conjunction with the financing, Callio Therapeutics has entered into an exclusive worldwide license agreement with Hummingbird Bioscience, a Novo Holdings portfolio company, for its dual-payload ADC platform in oncology and associated intellectual property and pipeline assets, in exchange for equity, potential milestone payments and royalties.

The oversubscribed Series A financing was led by Frazier Life Sciences, with significant participation from Novo Holdings and other life sciences investors including Jeito Capital, Omega Funds, Norwest, ClavystBio, EDBI, Platanus, Pureos Bioventures and SEEDS Capital.

Headquartered in Seattle and Singapore and launched by Frazier Life Sciences, the newly formed company intends to use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program. The company’s mission aligns with Novo Holdings’ longstanding commitment to advancing innovative ADC technologies and builds on its existing portfolio to support the next generation of precision cancer therapies.

Ken Harrison, Senior Partner, Novo Holdings said: “Novo Holdings is pleased to support Callio Therapeutics to advance its groundbreaking dual-payload ADC programs, leveraging the innovative ADC platform developed by our portfolio company, Hummingbird Bioscience. This investment underscores our commitment to fostering novel oncology therapeutics that have the potential to transform cancer treatment. We look forward to seeing these promising therapies progress through clinical development to benefit cancer patients worldwide.”

In connection with the financing Ken Harrison will join the Callio Therapeutics Board of Directors.

Piers Ingram, PhD, co-founder and Chief Executive Officer, Callio Therapeutics, said: “We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy. This new generation of ADC therapies may meaningfully improve outcomes for patients.”

Adam Simpson, Executive Board Chair, Callio Therapeutics and Venture Partner, Frazier Life Sciences said: “The dual-payload ADCs being developed at Callio Therapeutics have the potential to address large unmet medical needs by overcoming many of the limitations of existing ADCs. With the expertise of the Callio Therapeutics team, together with access to the innovative dual-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy.”

Led by CEO Pier Ingram, the founding Callio Therapeutics management team comprises individuals with extensive experience from leading biotechnology and biopharmaceutical companies including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech:

·       Piers Ingram, PhD, Chief Executive Officer

·       Jerome Boyd-Kirkup, PhD, Chief Scientific Officer

·       Naomi Hunder, MD, Chief Medical Officer

·       Angèle Maki, PhD, Chief Business Officer

 

About Callio Therapeutics
Headquartered in Seattle and Singapore, Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, dual-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of dual agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics’ lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience. For more information , please visit www.calliotx.com and follow Callio Therapeutics on LinkedIn.

About Hummingbird Bioscience
Hummingbird Bioscience is a Singapore-based biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience’s computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity. At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.  Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.  As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.  www.novoholdings.dk

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

Further information

Dora Gonzalez,
Senior Public Relations Specialist
dopg@novo.dk

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Novo Holdings and TA Associates partner with Biocomposites to drive next chapter of its growth

Novo Holdings

Additional investment and resources will accelerate Biocomposites’ international expansion and innovation in products for use in infection management

HELLERUP, DENMARK, LONDON and KEELE, UK – 3 March 2025 – Novo Holdings and TA Associates (“TA”), announced today that the parties have entered into an agreement for Novo Holdings to make an investment in Biocomposites (“the Company”), an international medical devices company that engineers, manufactures and markets leading products for use in infection management in bone and soft tissue. As part of the transaction TA, Biocomposites’ majority shareholder since 2017, will reinvest in the Company alongside new investor Novo Holdings and Biocomposites’ management. The transaction gives TA and Novo Holdings shared control of Biocomposites.

Headquartered in Keele, United Kingdom, Biocomposites’ pioneering calcium compounds and specialty polymer products – including STIMULAN, the only calcium matrix carrier platform approved to carry antibiotics into infected and non-infected sites in bone and soft tissue – are trusted by surgeons in over 100 countries worldwide. With over 30 years of expertise, Biocomposites’ advanced solutions are used in more than one million procedures annually, across multiple specialties including musculoskeletal infection, orthopaedics, trauma, spine, foot and ankle, and sports injuries.

Since partnering with TA in 2017, Biocomposites has achieved significant growth – including a threefold increase in revenues, successful geographic expansion, and continued product diversification. The Company has also completed two strategic acquisitions, strengthening its international presence and enabling entry into adjacent indications and therapeutic areas. With the new investment from Novo Holdings and the ongoing support of TA, Biocomposites aims to build on this momentum, deepening its global footprint and further advancing its pipeline of innovative products to deliver life-changing solutions at scale.

“We are thrilled to partner with Biocomposites and TA in this exciting new chapter for the Company,” said Henrik Kjær Hansen, Senior Partner at Novo Holdings. “Biocomposites’ innovative solutions in infection management align perfectly with our broader portfolio of life sciences investments, and we firmly believe in the Company’s tremendous growth potential. With our deep expertise in life sciences and extensive global network, we look forward to supporting Biocomposites in expanding its international footprint, driving innovation, and advancing its ability to deliver highly effective and targeted infection management solutions that improve patient outcomes worldwide.”

“TA has been a fantastic long-term partner to us, and we are excited for the future alongside them and Novo Holdings,” said Michael Harris, Biocomposites’ CEO. “This investment is a significant validation of Biocomposites’ achievements so far and our future prospects for growth. With the combined expertise and support of these two leading global healthcare investors, we believe we are well positioned to deliver on our commitment to bring ever more innovative products for use in infection management to more people worldwide – transforming patient outcomes and improving their lives.”

“Since our initial investment, Biocomposites has established itself as a pioneer in the infection management space,” said Birker Bahnsen, Managing Director at TA. “The Company has consistently demonstrated its ability to scale internationally while building out a diversified product portfolio that aligns with growing market demand and meets evolving patient needs. It has been a true privilege to take part in Biocomposites’ journey thus far, and we look forward to collaborating closely with the management team and Novo Holdings on this next stage of its growth.”

Financial terms of the transaction were not disclosed. Jefferies International Limited acted as exclusive financial advisor to TA and Biocomposites. Goodwin Procter LLP served as legal counsel to TA and Biocomposites. Kirkland & Ellis International LLP and Linklaters LLP acted as legal advisors to Novo Holdings. Alvarez & Marsal provided Financial and Tax Vendor Due Diligence for Biocomposites, Squire Patton Boggs (UK) LLP (legal), KPMG LLP (UK) (tax) and Jamieson Corporate Finance (management advisory) acted for Biocomposites Management.

 

About Biocomposites
Biocomposites is an international medical devices company that engineers, manufactures, and markets world leading products for use in infection management in bone and soft tissue. Based in Keele, UK, it has global operations across Europe, USA, Argentina, Canada, China, and India. Biocomposites is a leading developer of innovative calcium compounds and bone cements for surgical use. Its products regenerate bone and target infection risks across a variety of specialties, including musculoskeletal infection, orthopaedics, trauma, spine, foot and ankle, podiatry, and sports injuries. Biocomposites products are now used in over one million procedures per annum and sold in more than 100 countries around the world. Please visit biocomposites.com to learn more.

About TA Associates
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. Further information on TA can be found at www.ta.com.

About Novo Holdings
Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. Novo

Holdings invests in life science companies at all stages of development and also manages a broad portfolio of equities, bonds, real estate and infrastructure assets as well as private equity investments.

As of year-end 2023, Novo Holdings had total assets of €149 billion. Further information: www.novoholdings.dk.

Further information

Biocomposites
Optimum Strategic Communications
Mary Clark, Stephen Adams, Katie Flint
Tel: +44 (0)20 3882 9621
biocomposites@optimumcomms.com

TA Associates
Maggie Benoit
mbenoit@ta.com

Novo Holdings
Christian Mostrup
Director, Public Relations
+ 45 30674805
cims@novo.dk

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Crowe Foederer attracts investment from Rivean Capital to accelerate growth

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Rivean

Amsterdam – Rivean Capital, a leading European mid-market private equity investor headquartered in the Netherlands, is pleased to announce completion of its investment in Crowe Foederer, a Dutch top-20 full-service audit & advisory firm and member of Crowe Global, one of the largest accounting networks worldwide. Crowe Foederer aims to be the partner of choice for larger SMEs and mid-market clients through its multidisciplinary services offering which includes audit & assurance, financial advisory, tax advisory, HR services, corporate finance and IT services.

Ready for the next phase of growth

Crowe Foederer doubled its revenues and employee base in the last 5 years, and with the support of Rivean Capital, the partners of Crowe Foederer aim to further accelerate growth both organically as well as through acquisitions. In a rapidly consolidating accountancy market where scale is increasingly important, continued investments in quality, people, and technology are required to maintain a leading role in the market. Rivean will assist Crowe Foederer in managing growth through its in-house value creation Portfolio Enhancement Program. Further investments will be directed towards being employer of choice as well as the further rolling out data-driven, audit- and advisory capabilities. Additionally, the Company will expand its footprint and strengthen its multi-disciplinary service offering with specialist advisory services, organically and through M&A.

Johan Daams, CEO of Crowe Foederer, said: “As a multidisciplinary firm in a rapidly changing and competitive market we continuously challenge ourselves on innovation, service delivery and being a good employer. With the support of Rivean we will continue to build our organizational structure and management power that will naturally drive growth.”

Tom Muizers, Senior Partner at Rivean Capital, commented: “As strategic partner, Rivean Capital will support Crowe with expertise and further investments to realize its ambition to become a leading audit & advisory firm in the Netherlands by helping Crowe broaden its capabilities and expand its presence across the country.”

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About Rivean Capital

Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. Rivean Capital has assets under management in excess of €5bn and has offices in Amsterdam, Brussels, Frankfurt, Milan, and Zug. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories.

Contacts for the media

For more information, visit www.riveancapital.com

Rivean Capital
Maikel Wieland
Head of Investor Relations
Email: m.wieland@riveancapital.com

Crowe Foederer
Erik Kolthof (Corporate Marketing Manager)
e.kolthof@crowefoederer.nl

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Forbion Expands US Presence with the Appointment of Regina Salvat, PhD, as Principal in the Boston Office

Forbion

Naarden, The Netherlands – 03 March 2025 – Forbion is pleased to announce the appointment of Regina Salvat, PhD, as Principal in our Boston office. This strategic hire underscores our commitment to strengthening our presence in the United States and enhancing our investment capabilities in the biotech sector.

Regina joins Forbion from Sofinnova Investments, where she was instrumental in driving multiple successful private investments across the biotechnology landscape. She holds a PhD in Protein Engineering from Dartmouth College and a Bachelor’s degree in Biomedical Engineering from Cornell University. Her extensive experience and robust network will be invaluable assets as she collaborates with the Forbion Growth team, focusing on private and crossover investment opportunities.

Regina is no stranger to Forbion, having previously collaborated on successful investments in companies such as Capstan Therapeutics, Aiolos Bio, and Gyroscope Therapeutics. Her proven track record in identifying and nurturing high-impact biotech ventures aligns seamlessly with Forbion’s mission to support innovative companies that transform patient care.

Managing Partner Martien van Osch, co-founder of Forbion, emphasizes the significance of these developments, “The expansion into Boston and the addition of seasoned professionals like Regina reflect Forbion’s dedication to fostering innovation and supporting groundbreaking biotech companies. Our presence in this dynamic biotech hub enables us to better serve our portfolio and identify new investment opportunities that align with our mission to bring transformative therapies to patients.”

The establishment of our Boston office in June 2024 marked a significant milestone in Forbion’s expansion strategy. Located on Clarendon Street, this office serves as a hub for Forbion’s U.S. operations, enabling closer collaboration with portfolio companies and access to a vibrant biotech ecosystem. The Boston team to date includes Managing Partner Martien van Osch, General Partner Josh Brumm and Partner Jonathan McNeill, MD.

Forbion remains committed to building a talented team to drive our mission forward. We are confident that the expertise and leadership of our Boston team will significantly contribute to the growth and success of our portfolio companies and the broader biotech community.

For more information, please contact:

Forbion Communications
Email: laura.asbjornsen@forbion.com
Head of Communications

About Forbion
Forbion is a leading global venture capital firm with deep expertise in Europe and offices in Naarden, The Netherlands, Munich, Germany and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. In addition, Forbion leverages its biotech expertise beyond human health to address ‘planetary health’ challenges through its BioEconomy fund strategy, which invests in companies developing sustainable solutions in food, agriculture, materials, and environmental technologies. Forbion’s team consists of over 30 investment professionals that have built an impressive performance track record since the late nineties with 128 investments across 11 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits. Forbion typically selects impactful investments that will positively affect the health and well-being of people and the planet, as well as meet its financial return objectives. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.

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Equistone sells TIMETOACT GROUP to H.I.G. Capital

Equistone

Equistone Partners Europe (“Equistone”), one of Europe’s most established mid-market private equity investors, today announces the realisation of its investment in TIMETOACT GROUP, a leading provider of IT services for upper medium-sized companies, corporations and public institutions, to H.I.G. Capital, a leading global alternative investment firm.

TIMETOACT GROUP, headquartered in Cologne, is a leading IT services provider, specialising in cloud platforms and digital solutions for enterprise, Fortune 1000 and public sector clients. The business, which has over 1,400 employees and a comprehensive portfolio of software and consulting services, has grown its annual revenues from €115 million in 2020 to more than €360 million in 2024.

Since Equistone invested in the business in 2021, TIMETOACT GROUP has acquired eleven businesses as part of an international buy-and-build strategy focused primarily on building out its service offering, consolidating its position in the DACH region and expanding into the US market. Equistone has also supported a number of operational changes, including the consolidation of all IT systems across the group, the implementation of dedicated M&A and operational excellence teams, as well as a robust post-merger integration process.

Moritz Treude, Partner at Equistone, said: “TIMETOACT GROUP’s impressive growth over the past three years has been founded on an ambitious growth strategy that we have executed in close partnership with an exceptional management team. The eleven add-on acquisitions Equistone has supported, alongside the operational changes we have helped implement, mean the business is well-positioned for future growth.”

Felix Binsack, CEO & Founder of TIMETOACT GROUP, said: “TIMETOACT GROUP has had tremendous success, growing revenues and earnings more than threefold in just three-and-a-half years – thanks to Equistone’s outstanding support and financial backing.”

Frank Fuchs, co-managing director of TIMETOACT GROUP, added: “We had a wonderful partnership with Equistone’s team who supported us until it became time to hand over to the next financial sponsor. In an intensive and competitive process, we found our ideal partner in H.I.G. Capital to support our future growth plans.”

The agreed transaction is subject to regulatory approval. This transaction represents Equistone’s twelfth exit from its €2.8bn Fund VI and means the fund has now achieved a DPI of 1.1x with 22 companies remaining in the portfolio.

The Equistone funds were advised on this transaction by Lincoln International (M&A), Latham & Watkins (Legal), Deloitte (Financial), EY (Tax), Boston Consulting Group (Commercial) and McDermott Will & Emery (Antitrust).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

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