Archives

Planned succession implemented at Elysian Capital

Elysian Capital

Elysian Capital, the leading UK lower mid-market Private Equity house, has announced a change in the leadership of the firm in a long-planned succession process to be implemented from 1st January 2026.

Ken Terry, founder of Elysian Capital in 2007, will be moving to Chairman of Elysian Capital LLP and will retain his existing portfolio responsibilities at BXT Accelyon, Mergon and Wholebake. Mark Puttick has been appointed CEO of Elysian Capital from 1st January 2026 with responsibility for the day-to-day operations of the firm. This move allows Mark to be firmly in place ahead of the commencement of fundraising for Fund IV and provides a solid foundation for the continued success and growth of Elysian.

Ken will remain Chairman of the Elysian Investment Committee and will also retain joint responsibility with Mark Puttick for the fundraising of Elysian Capital IV LP to be launched in Q4 2026.

Mark Puttick joined Elysian in 2017 and has been a partner since 2022. Mark has been instrumental in sourcing, leading and managing some very successful Elysian investments including Activate Group, Gravity Global, Kinetic Solutions Group and Aspirations Care.

Ken Terry said, “After nearly 40 years in private equity at Doughty Hanson and now Elysian, I am aware that succession is something that private equity firms often do really badly. At Elysian, Mark and I have been working closely on our future plans for the last 2-3 years. We care intensely about Elysian, the people who work here, our investors and the companies that we partner with, and getting this right is extremely important. I am happy to hand over day to day control to Mark while staying intimately involved as Chairman, and we are excited about this next chapter of Elysian’s continued success”.

Mark Puttick said, “It is a real privilege to be part of the Elysian team, and I am grateful to Ken and my colleagues for the opportunity to become CEO as we prepare for Fund IV. I am passionate about our mission to be the best partner to entrepreneurial management teams seeking transformational growth. I have the pleasure of working with an extremely talented team at Elysian and I believe the way we combine our different skillsets and domain expertise gives us something truly unique to offer to our management teams and our investors. The opportunity for us in the lower mid-market is compelling and we are excited about Fund IV and beyond”.

Elysian Capital is just completing investing its third Fund (£325m) and is set to raise a similar amount later in Q4 2026.

Categories: People

Cinven, KKR and Providence sell Stake in MasOrange for €4.25 billion

KKR

Marks successful exit from Spain’s telecommunications operator with the highest number of subscribers

MADRID and LONDON, 12 December 2025 – Cinven, KKR and Providence, the sponsors of Lorca JVCo (“Lorca”), the entity through which they indirectly own 50% of MasOrange, today announced they have reached a binding agreement for Orange to acquire Lorca’s stake. The transaction represents a significant milestone for Spain’s telecommunications operator with the highest number of subscribers.

Under the terms of the agreement, Lorca will receive total cash proceeds of €4.25 billion.

In 2020, Cinven, KKR and Providence strategically partnered with management and local shareholders to facilitate the €5.3 billion take-private of MásMóvil. MasOrange was formed in 2024 by the merger of MásMóvil and Orange España, with Orange Group owning 50% of the combined group and Lorca the remaining half.

At the time of the take-private, MásMóvil was the fourth largest player in the Spanish telecoms market with more than 11 million customers. Under the consortium’s ownership, MasOrange has developed into the telecommunications operator with the highest number of subscribers in Spain, serving over 33 million lines. The sponsors have partnered closely with management to organically grow the business, develop a top-quality product offering and customer satisfaction, as well as reduce churn. Over the course of the sponsors’ investment, MásMóvil also completed more than ten network transactions and seven accretive acquisitions including the transformative take-private of Euskaltel in 2021 and the merger with Orange España in 2024. Earlier this year, MasOrange also created one of the largest independent fibre networks in Europe by merging its network assets with those of Vodafone Spain. 

Miguel Segura and Thomas Railhac, Partners at Cinven said: “Our journey with MasOrange has been an extraordinary one. We are immensely proud to have played a role in building Spain’s leading telecommunications operator, driving innovation and delivering meaningful value to millions of customers and we are delighted to see MasOrange well-positioned for a bright future ahead.”

Iñaki Cobo, Partner at KKR and Head of Iberia, said: “Since 2020, MasOrange has undergone a transformation from a challenger brand, growing into Spain’s leading telecommunications operator. We’ve been delighted to have played a role in accelerating the growth of a company powering vital, market-leading connectivity for millions of citizens and businesses, alongside our consortium partners and the exceptional team at MasOrange.”

Robert Sudo, Managing Director, Providence, who first invested in MásMóvil in 2016, said: “Over the past nine years, our investment in MasOrange has exemplified our specialist approach and ability to identify compelling opportunities in the middle market and build them with strategic and financial support to top level firms in Spain and beyond. We are grateful to MásMóvil’s founder and CEO Meinrad Spenger, whose strategic vision and partnership have been pivotal to driving transformative growth. We wish everyone at MasOrange success for the next chapter and would like to thank our Lorca co-investors for their partnership since 2020.”

Advisors to Cinven, KKR and Providence included: Barclays, BOFA, BNP Paribas, CACIB, Goldman Sachs (lead), ⁠JP Morgan (M&A) and Freshfields (Legal).

Completion of the transaction is anticipated in H1 2026, subject to customary closing conditions and regulatory approvals.

About Providence
Providence is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $40 billion across more than 180 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of 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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com

About Cinven
Cinven is a leading international private equity firm focused on building world-class global and European companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg.
Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society.
Cinven Limited is authorised and regulated by the Financial Conduct Authority. Cinven Fund Management S.à r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.
In this press release ‘Cinven’ means, depending on the context, any of or collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, and their respective Associates (as defined in the Companies Act 2006) and/or funds managed or advised by any of the foregoing.
For additional information on Cinven please visit www.cinven.com and www.linkedin.com/company/cinven/.

For Cinven
Clare Bradshaw
Tel. +44 (0)7881 918 967
clare.bradshaw@cinven.com
Alison Raymond
Tel. +44 (0)7826 856198
alison.raymond@cinven.com
Brunswick
bgcinven@Brunswickgroup.com

For KKR
FGS Global
Alastair Elwen
+44 (0)20 7251 3801
kkr-comms-emea@fgsglobal.com

For Providence
FGS Global
Charlie Chichester / Rory King
+44 (0)20 7251 3801
ProvidenceEquity@fgsglobal.com

 

Download PDF

Categories: News

Tags:

Blackstone Credit & Insurance Announces $1 Billion Forward Flow Origination Partnership with Harvest Commercial Capital

Blackstone

NEW YORK – December 11, 2025 – Today, Blackstone Credit & Insurance (“BXCI”) announced a forward flow origination partnership with Harvest Commercial Capital, LLC (“Harvest”), a leader in small business lending, to acquire business loans secured by first lien mortgages on owner-occupied commercial real estate. Under the terms of the partnership, BXCI has purchased an initial portfolio of loans and established a forward flow program for a total of $1 billion in loans.

Under the long-term partnership, BXCI will acquire small business loans from Harvest, including both SBA 504 and non-SBA conventional loans, providing permanent capital to expand lending to small businesses across the United States.

“We are excited to expand our asset-based credit platform by partnering with Harvest to bring much needed financing solutions to many small businesses, secured by their real estate assets,” said Aneek Mamik and Nick Menzies, Senior Managing Directors at Blackstone Credit & Insurance. “We believe their multifaceted approach to underwriting and comprehensive underlying collateral package creates a differentiated and attractive lending program.”

“Blackstone’s scale and expertise make them an ideal partner, and their commitment to Harvest validates the strength of our franchise and the critical role we play in serving America’s small businesses,” said Jason Raefski, Chief Financial Officer of Harvest Commercial Capital. “This capital relationship allows us to significantly expand our lending capabilities while maintaining our disciplined underwriting standards.”

Harvest will continue to operate independently, maintaining its specialized expertise in SBA 504 and conventional small balance commercial loans while benefitting from Blackstone’s platform and scaled insurance capital base.

BXCI’s Infrastructure and Asset Based Credit group manages over $100 billion and has over 80 investment professionals, as of September 30, 2025. The platform is focused on providing investment grade credit, non-investment grade credit, and structured investments across the real economy in sectors such as physical assets and infrastructure, commercial finance, fund finance, consumer finance, and residential loans.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

About Harvest Commercial Capital, LLC
Harvest Commercial Capital, LLC is a Delaware limited liability company that originates, owns, sells and services first-lien small balance commercial loans backed generally by multi-purpose commercial real estate. HCC originates conventional loans and first-lien loans pursuant to the U.S. Small Business Administration’s (“SBA”) 504 loan program. HCC is majority owned by an affiliate of Medalist Partners, LP, an SEC registered investment manager with approximately $2.3 billion of net assets under management as of September 2025, that invests predominantly in securitized credit and asset-based private credit strategies. HCC was founded in February 2016 and is based in Laguna Hills, CA.

Contacts
Blackstone
David Vitek
David.Vitek@blackstone.com
(212) 583-5291

Harvest Commercial Capital
Adam Seery
Aseery@harvestcref.com

Categories: News

Tags:

Ardian Expands Ardian Access, its Private Investment Evergreen offering, to Canadian Professional Private Investors

Ardian

New investment solution to provide clients with exposure to Ardian’s global secondaries, co-investment, infrastructure and infrastructure secondaries platforms and expertise

Ardian, a global private investment firm with more than $ 270 billion CAD in assets under management & supervision across its private equity, real assets, and private credit platforms, today announces the availability of Ardian Access to Canadian professional investors*. This expansion provides greater access to private market opportunities that have traditionally been reserved for large institutional investors, responding to a growing demand among Canadian professionals for broader diversification and long-term value creation.

Ardian Access Canada makes Ardian Access SICAV-RAIF**(“Ardian Access” or “the Fund”) available to Canadian professional private investors. Originally launched in July 2025, Ardian Access SICAV-RAIF is an evergreen vehicle domiciled in Luxembourg that provides professional investors globally*** with diversified exposure to Ardian’s pioneering private equity platform.

Ardian Access is a differentiated solution for investors looking to access private markets and diversify their existing exposure. The Fund seeks to leverage a highly diversified, global portfolio of private assets managed by GPs across sectors, geographies, and company sizes, aiming to generate long-term value whilst mitigating risk and J-Curve effects.

Through Ardian Access, Canadian investors gain exposure to Ardian’s secondaries, primaries and direct co-investment platforms, which collectively manage more than $ 150 billion CAD in assets under management. Ardian’s secondaries team has executed more than $ 56 billion CAD in secondary transaction volume in the past four years, while its co-investment team has invested alongside sponsors in more than 140 selected portfolio companies to date. Additionally, both teams have managed consecutive generations of diversified portfolios.

Ardian Access provides exposure to:

  • Ardian’s established secondaries and co-investment strategies, underpinned by a “buy what we know” investment approach focusing on high-quality sponsors and assets, as well as its comprehensive proprietary database spanning more than 650 GPs, 1,600 funds, and 10,000 portfolio companies, which enables Ardian to identify and assess potential opportunities.
  • Ardian’s global secondaries and co-investment teams comprising more than 125 professionals in 20 offices across the globe, which have built robust and trusted partnerships with a broad network of GPs, LPs, and portfolio company management teams.
  • Accessible investment minimums of $ 25,000 CAD and immediate capital deployment from day one, aiming to maximize compounding and limit cash drag.

The expansion of Ardian Access to Canada is supported by the firm’s dedicated Canadian team. Ardian established its Montreal office in 2023 to strengthen its ties with investors in the country, some of whom have been partners since the firm’s inception in 1996. The Canadian team ensures direct access to Ardian’s global expertise and a deeper understanding of Canadian market dynamics, reinforcing the firm’s long-term commitment to building trusted, local relationships and to deliver tailored private market solutions in every market where it operates.

Ardian Access Canada will also soon provide access to Ardian Access Infrastructure SICAV-RAIF for Canadian professional private investors. The fund provides exposure to Ardian’s infrastructure platform which has over $ 57 billion CAD in assets under management including London’s Heathrow Airport and Verne, a sustainable data center platform, as well as the firm’s infrastructure secondaries platform, the largest in the world, with over $ 140 billion CAD in assets under management.

Ardian launched the funds in partnership with iCapital, the global fintech platform shaping the future of investing. Ardian will leverage iCapital’s full suite of servicing and technology solutions for evergreen funds to provide wealth managers and their clients with efficient access to alternative investment opportunities via Ardian Access.

“Private clients are an important and fast‑growing group of investors that account for more than half of Ardian’s LPs by number. With the introduction of Ardian Access in Canada, we’re extending our long-term commitment to providing private investors with scalable investment solutions that allow them to take advantage of Ardian’s market leading strategies. Our Private Wealth Solutions team is experiencing significant growth as private investors and wealth managers seek greater exposure to the private markets, and Canada represents a natural next step in this global expansion.” Mark Benedetti, Executive President, Ardian

“Secondaries are well suited to private wealth because they provide investors with wide diversification and can generate returns and cash flow quickly given their maturity. We have the world’s largest Secondaries & Primaries platform, run alongside a significant co-investment offer, and this means we can execute the largest and most complex transactions with the highest quality GPs and underlying investments. Over 20% of our latest Secondaries fundraise came through private wealth channels, and we are delighted to be opening up our strategy to even more private investors through Ardian Access.” Vladimir Colas, Executive Vice-President and Co-Head of Secondaries and Primaries, Ardian

“As private investors are increasingly seeking opportunities traditionally reserved for institutional investors to diversify their portfolios and generate long-term returns, we are proud to expand Ardian Access to Canada. This initiative builds on our ambition to give professional investors access to the same institutional-grade opportunities and long-term value creation that have defined Ardian’s success for nearly 30 years.” Frederick Castonguay, Investor Relations Managing Director, Ardian

Ardian is well known for a leading position in secondaries, direct investments and infrastructure investing. The continued roll-out of the Ardian Access platform alongside other Private Wealth initiatives represents a new chapter for Ardian. Until recently, the many opportunities that the Ardian team identified were reserved for institutional investors and the wealthiest families. Now, these funds are opening the doors to private markets for large groups of private investors. This product is part of the Ardian Access platform with local & thematic solutions globally.

NB: In Canada, investments are offered only through a locally regulated and domiciled feeder fund.

This announcement does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where such an offer or solicitation would be unlawful.

Investments in private equity involve a risk of total or partial loss of capital. Investors should consult the fund’s legal documentation and the fund’s marketing materials before making any final investment decision.

*The Fund is only accessible to eligible Canadian professional investors through a locally domiciled feeder fund which opened on December 1, 2025.
**The Fund is managed by Carne Global Fund Managers (Luxembourg) S.A., with Ardian acting as delegated portfolio manager.
***Terms such as global investors and around the world are generic descriptors for investors across multiple jurisdictions. Ardian Access and Ardian Access Infrastructure are marketed only in jurisdictions where it is duly registered, notified, or otherwise authorized under local laws and regulations.

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise, long-term performance, and shared value for our investors, partners, and the broader world. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $196bn for more than 1,890 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

Press contact

ARDIAN

SYRUS Loïc Philibert

lphilibert@syrus.ca

Categories: News

Steelhead Technologies Announces $84M Growth Capital Investment from Mainsail Partners

Mainsail partners

Calumet, MI – December 11, 2025 – Steelhead Technologies, an all-in-one ERP software purpose-built for metal finishers and fabricators, today announced an $84 million growth investment from Mainsail Partners, a growth equity firm that specializes in partnering with vertical SaaS businesses. The funding will be used to expand the platform’s capabilities and Steelhead’s suite of AI-driven tools that are designed to help shops maximize their efficiency and profitability.

Steelhead was founded in 2021 to solve a long-standing gap in the market: manufacturers want to grow, but struggle with manual processes and outdated systems that add time and cost to each transaction. Instead of spreadsheets and paper travelers, Steelhead’s cloud-based platform digitizes the shop floor, streamlining quoting, scheduling, inventory, production tracking, quality and accounting into a single, easy-to-use system. Customers have processed more than 1.6 billion parts on the platform and their revenue trends indicate a 17% annual growth rate.

“Shops that want to scale need tools and partners that can scale with them,” said Jeff Halonen, co-founder and CEO of Steelhead. “Our customers are experiencing margin and revenue growth, as they finally have a system built to help drive these opportunities. With Mainsail’s investment, we hope to share it with thousands of more shops so they can get ahead — and stay ahead.”

Steelhead’s impact is tangible. Minnesota’s D&K Powdercoating tripled in revenue and size over four years since digitizing production with Steelhead, and Houston’s Precision Spray cut its average production cycle time from 35 days to seven. “If you told me a few years ago that our guys would be walking around with iPads —in my shop—I wouldn’t have believed you,” said Dana Schnepf, president of D&K. “Technology has been a game changer for our industry, and our business is stronger than ever.”

Steelhead’s product is purpose-built for finishing and fabrication shops with a highly configurable workflow engine, which enables the platform to model each shop’s specific processes for stamping, plating, anodizing, heat treating, welding, bending and assembling, powder coating and painting. This flexibility is critical in finishing and fabrication, where workflows vary significantly by shop and part type.

“Many of the metal finishers and manufacturers in the U.S. have been in business for generations but are still running the same way they did decades ago,” said Jason Frankel, Partner at Mainsail Partners. “They’ve upgraded their equipment and materials but often do not have the digital infrastructure necessary to tie it all together in an efficient and profitable way. It’s not an uncommon scenario across skilled trades and why we believe in the impact that vertical software like Steelhead can have on its customers.”

“Steelhead has built a market leading product to help shops better serve ‘the last mile’ of the manufacturing process. We’re excited to partner with Jeff and the Steelhead team as they continue to bring much-needed visibility and control to a market that’s ready for modernization,” added Anthony Hayes, Principal at Mainsail Partners.

About Steelhead

Based in Michigan, Steelhead helps finishers and fabricators grow their businesses and move parts, not paper. Steelhead’s secure cloud platform digitizes the production floor and unifies quoting, inventory, production, quality, and accounting in a single, easy-to-use system. AI tools help shops optimize labor, schedule more efficiently, and understand job costs in real time. By replacing manual processes with real-time operations data, Steelhead helps shops improve margins, shorten lead times, and significantly expand revenues. Learn more at http://www.gosteelhead.com/.

About Mainsail Partners

Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders. Our team is purpose-built to include experienced investors and software operators who help founders build great teams, develop industry-leading products, design data-driven and scalable infrastructure, harness the power of AI to drive productivity and innovation, and grow market share. Mainsail’s hands-on support and best practices are delivered through a collaborative approach that respects founder-led cultures and helps build on each company’s commitment to its people and customers. With offices in Austin and San Francisco, Mainsail Partners has raised nearly $4 billion in committed capital and partnered with 100+ companies over the last 22+ years. For more information, visit www.mainsailpartners.com.

Categories: News

Tags:

Repsol advances its renewable energy strategy in the US with a new deal with Stonepeak

Stonepeak

  • Stonepeak will acquire a 43.8% stake in the Outpost solar project (629 MW) from Repsol for $252.5 million (€220 million).
  • The transaction implies a valuation of the solar asset of approximately $775 million (€675 million), including tax equity proceeds raised through the monetization of Production Tax Credits (PTCs) received by the project.

Repsol advances its renewable energy strategy in the United States with a new deal with Stonepeak. The investment firm specializing in infrastructure and real assets has agreed to acquire a 43.8% stake in Repsol’s Outpost solar project, located in Webb County, Texas, for $252.5 million (€220 million). The transaction implies a valuation of the asset of approximately $775 million (€675 million), including tax equity proceeds raised through the monetization of PTCs received by the project.

Outpost, with an installed capacity of 629 MW, began commercial operation this August and benefits from a long-term power purchase agreement (PPA), reinforcing its attractiveness to investors.

This marks Repsol’s second asset rotation in the United States, and the multi-energy company continues to optimise the financial structure of its renewable business by bringing in strategic partners to maximise value creation.

This transaction also represents the second collaboration between Repsol and Stonepeak in the U.S. renewables market. In July this year, the two companies closed a similar transaction that included Stonepeak’s acquisition of a stake in the Frye solar farm (632 MW) in Texas and the Jicarilla solar and storage complex (145 MW) in New Mexico.

The transaction is expected to close in the coming months, subject to standard regulatory approvals.

João Costeira, Executive Managing Director of Low Carbon Generation at Repsol, said: “Rejoining forces with Stonepeak, a major investor that continues to place its trust in the quality of our renewable assets in the United States, allows us to advance our growth strategy in this country, where we already have more than 2,800 MW in operation and under construction in solar and storage projects.”

Anthony Borreca, Senior Managing Director at Stonepeak, said: “We are thrilled to extend our U.S. partnership with Repsol on this transformative solar project, which underscores our shared ongoing commitment to advancing sustainable energy infrastructure and delivering long-term value in Texas.”

About Stonepeak
Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately $80 billion in assets under management. Through its investment in defensive businesses and hard assets globally, Stonepeak aims to create value for its investors and portfolio companies by focusing on downside protection and strong risk-adjusted returns. As a sponsor of private equity and credit investment vehicles, Stonepeak provides capital, operational support and a committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transportation and logistics, and real estate. Stonepeak is headquartered in New York and has offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Riyadh, and Abu Dhabi. For more information, visit www.stonepeak.com.

About Repsol
Repsol is a multi-energy company that meets all its customers’ energy needs, both at home and on the move. It has 25,000 employees in more than twenty countries and 24 million customers. Its extensive network of 4,500 service stations supplies fuel in Spain, Portugal, Peru, and Mexico and is incorporating alternatives such as electric charging, 100% renewable fuels, AutoGas, and natural gas for vehicles. It has 3 million electricity and gas customers in Spain and Portugal and is the fourth largest operator in the Spanish electricity market. The company has a diversified portfolio of renewable generation, with an installed capacity of 5,000 MW, mainly in Spain, the United States, and Chile. It produces an average of 571,000 barrels of oil equivalent per day and has one of the most efficient refining systems in Europe. Repsol is transforming its six industrial complexes on the Iberian Peninsula into multi-energy hubs that can turn a wide variety of raw materials and waste into low-carbon products, such as 100% renewable fuels, which will be key to achieving its goal of becoming a net-zero emissions company by 2050.

For further information:

Repsol
Communications and Brand Management
prensa@repsol.com
91.753.87.87

Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

Categories: News

Tags:

3i-backed Evernex strengthens its capabilities in EMEA with the acquisition of Sunrise Technologies

3I

3i Group plc (“3i”) announces that Evernex, a global leader in data centre maintenance services (“DCM”), has acquired Sunrise Technologies in Morocco, a key domestic player with high levels of technical expertise in complex IBM-based storage systems and virtualisation technologies such as VMware and Nutanix.

This acquisition represents a strategic reinforcement of Evernex’s presence in Morocco, home to one of its three Global Shared Service Centres (“SSC”) alongside Brazil and Malaysia. Established in 2022, the Moroccan SSC plays a central role in scaling Evernex’s global delivery platform. The integration of Sunrise will enhance Evernex’s local service desk and engineering capacity, expanding its technology coverage and strengthening its ability to deliver high-quality maintenance services.

The acquisition marks the eighth since 3i’s investment in Evernex in October 2019. Sunrise’s expertise in critical and complex infrastructure environments will enhance Evernex’s core offering, which focuses on reliability, sustainability and operational excellence in IT lifecycle services.

Stanislas Pilot, CEO, Evernex, said: “We are delighted to welcome Sunrise Technologies to Evernex. Morocco is a key market for us, both as a strategic operational hub and a growing DCM market. Sunrise’s technical expertise, local footprint and strong customer relationships will enable us to deliver even greater value to our clients in the EMEA region.”

Marc Ohayon, Partner and Co-Head of France Private Equity, 3i, said: “This acquisition reinforces Evernex’s leadership in North Africa and aligns strongly with our strategy to build a global, integrated platform for data centre maintenance. Sunrise’s reputation for excellence and deep technical know-how will strengthen Evernex’s delivery capabilities and support continued growth in a key region for the company.”

 

Download article as a PDF

Ends

 

For further information, please contact:

Silvia Santoro
Group Investor Relations Director
Tel: 020 7975 3258

Kathryn van der Kroft
Communications Director
Tel: 020 7975 3021

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.

For further information, please visit: www.3i.com.

 

About Evernex

Evernex is a leading global provider of data centre maintenance services, helping companies extend the lifespan of hardware, minimise downtime, and improve sustainability. Its solutions include maintenance, spare parts management, recycling, secure data disposal, relocation, hardware rental, and financing solutions.

Operating in more than 165 countries, Evernex maintains over 500,000 IT systems and offers 24/7 support through a network of global service centres.

For further information, please visit: www.evernex.com

 

About Sunrise Technologies

Founded in 2014 in Casablanca, Sunrise Technologies is a leading provider of data centre maintenance services in Morocco. The company delivers comprehensive DCM solutions across servers, storage and networking, serving blue-chip corporates nationwide. Its team of certified engineers combines technical expertise with a reputation for superior service quality and reliability.

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

Categories: News

Tags:

KKR Appoints Rolf Buch as Executive Advisor

KKR

Frankfurt, Germany – December 11, 2025 – KKR, a leading global investment firm, today announced the appointment of Rolf Buch as Executive Advisor. Mr. Buch will support KKR’s investment teams and portfolio companies, helping to identify new investment opportunities in Private Equity, Infrastructure, and Real Estate, as well as strengthening local partnerships.

Mr. Buch has been serving as Chief Executive Officer of Vonovia SE, Europe’s largest private residential real estate company, since 2013 and will hold that position until the end of the year. Previously, he held senior leadership positions at Bertelsmann and as CEO of Arvato AG. At Vonovia, Mr. Buch led the company’s IPO in 2013, following which the business was later promoted to the DAX 30 (today DAX 40). Under his leadership, Vonovia’s revenues increased significantly, and the business strengthened its market position through a number of strategic acquisitions. Mr. Buch also holds leading positions in various real estate associations.

“We are pleased to welcome Rolf Buch as an Executive Advisor to KKR,” said Christian Ollig, Partner and Head of the DACH region at KKR. “He is a very experienced manager with deep expertise across the business services and real estate sectors, and his strategic perspective and network will help us further expand our presence in the region. His experience in the expansion and development of business models will also be invaluable to KKR’s portfolio companies across all our strategies.”

Commenting on his appointment, Rolf Buch said: “KKR is a strong partner for companies seeking to grow and evolve in a dynamic market environment. I look forward to bringing my leadership experience to bear and working together with KKR to identify and realize new opportunities across KKR’s investment strategies. There are significant opportunities in Germany and Europe, and I am confident that we will successfully capitalize on them.”

The appointment of Mr. Buch underscores KKR’s strategic focus on the DACH region and further strengthens the firm’s commitment to partnering with local leaders in the region.

KKR has invested approximately €20 billion in equity in the DACH region in more than 40 companies since 1999, with over two thirds of these investments in partnership with founders, family-owned businesses and corporates.

###

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of 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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media contact

Fiona Bilgin
Mobile: +49 (0) 174 20 30 757
E-Mail: KKR-comms-EMEA@fgsglobal.com

 

Download PDF

Categories: People

Antin to acquire NorthC, a leading European enterprise colocation data centre platform, from DWS

Antin

Paris, London, New York

Antin Infrastructure Partners has agreed to acquire NorthC Datacenters, a leading enterprise colocation data centre platform in Northwest Europe, from DWS and other minority shareholders. The transaction is being carried out through Antin’s Flagship Fund V.

Based in Amsterdam, NorthC operates 25 colocation data centres across major metropolitan areas in the Netherlands, Germany and Switzerland. The platform has more than 140 MW of secured gross grid capacity from existing and greenfield sites to support future growth.

NorthC was formed in 2019 through the combination of two Dutch data centre operators and has rapidly become a major European player. Under the leadership of CEO Alexandra Schless, the company has expanded into Germany and Switzerland, delivering sustained organic growth supported by greenfield developments and bolt-on acquisitions, including, most recently, six data centres in Germany and the Netherlands.

NorthC serves more than 1,600 blue-chip customers across cloud and IT service providers, carriers, public sector and financial institutions, industry, transport and the healthcare and pharmaceutical sectors. The company is well positioned to continue growing, benefitting from strong, long-term market demand for high-quality colocation solutions, underpinned by continued IT outsourcing, cloud adoption, increasing data sovereignty requirements and rapidly growing AI workloads.

Antin has a long track record of investing in and scaling critical digital infrastructure platforms across Europe. This includes notably Pulsant, a leading regional enterprise colocation data centre platform in the UK, as well as various connectivity and communications infrastructure platforms in fibre and towers. The acquisition of NorthC builds on this expertise and further strengthens Antin’s position as a partner of choice for high-growth digital infrastructure businesses across the continent.

Upon closing, this investment will mark the sixth by Antin’s €10.2 billion Flagship Fund V. Antin’s Flagship strategy targets sizeable investments in established infrastructure companies across Europe and North America in the energy and environment, digital, transport and social sectors, following a value-add investment approach to grow and transform infrastructure businesses. Antin will invest alongside Alexandra Schless and the management team, who bring deep sector expertise and a proven track record of delivering growth.

Stéphane Ifker and Maximilian Lindner, respectively Managing Partner and Partner at Antin Infrastructure Partners, commented: “We have a strong conviction on the growth potential for colocation data centres, and NorthC is the leading operator in this space in Europe. NorthC is well positioned to accelerate its expansion and consolidate its leadership in a fast-growing and increasingly strategic segment of the digital infrastructure market. We look forward to supporting Alexandra and the team to achieve the next phase of NorthC’s growth.”

Harold D’Hauteville, Partner of DWS Infrastructure, added: “We are thrilled to have had the opportunity to create and grow NorthC with its incredible management team over the past six years. NorthC’s consistent focus on providing high quality colocation services to its clients across the Benelux and DACH region has established the business as a regional leader. We see strong growth potential in the enterprise colocation sector, as essential infrastructure required to enable the digital transformation and AI. We have no doubt that the management will continue to scale the business to reach new heights under its new ownership in the years to come.”

Alexandra Schless, CEO of NorthC, stated: “We are grateful to DWS for its support over the past years, and are delighted to work alongside Antin to continue taking the company forward. Antin’s direct experience of colocation data centres and knowledge of the enterprise end-customer market will be strong assets to help us seize the many growth opportunities that lie ahead.”

The transaction remains subject to regulatory approvals and is expected to close in H1 2026.

NorthC was advised by Evercore and Torch Partners as financial advisers and Latham & Watkins as legal adviser. Antin was advised by Guggenheim Securities as financial adviser and Clifford Chance and Simpson Thacher & Bartlett as legal advisers.

 

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €33 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Seoul, Singapore and Luxembourg, Antin employs over 240 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0). For more information visit: www.antin-ip.com/

 

About DWS

DWS Group (DWS), with EUR 1,054bn of total assets under management (as of 30 September 2025), is a leading European asset manager with global reach. With approximately 4,900 employees in offices around the world, DWS offers individuals, institutions and large corporations access to comprehensive investment solutions and bespoke portfolios across the full spectrum of investment disciplines. Its diverse expertise in Active, Passive and Alternative asset management enables DWS to deliver targeted solutions for clients across all major liquid and illiquid asset classes. www.dws.com

 

About NorthC

NorthC Group operates data centers in the Netherlands, Switzerland, and Germany. NorthC distinguishes itself by a strong local presence in various regions, high-quality services, and customized connectivity and hybrid cloud solutions. NorthC aims to be completely climate neutral by 2030, based on four sustainability pillars: 100% green energy, green hydrogen, optimal use of waste heat from data centers, and modular construction. More information can be found on the NorthC Datacenters website: www.northcdatacenters.com/en

 

 

Media Contacts

Antin Infrastructure Partners

Thomas Kamm, Partner – Head of Communications

Email: media@antin-ip.com

 

Nicolle Graugnard, Communication Director

Email: media@antin-ip.com

 

Ludmilla Binet, Head of Shareholder Relations

Email: shareholders@antin-ip.com

 

Brunswick

Tristan Roquet Montegon

+33 (0) 6 37 00 52 57

Email: antinip@brunswickgroup.com

 

NorthC Group

Lisa van den Berg – Director Marketing

+31 6 14730512

Email: lisa.vandenberg@northcdatacenters.nl

 

DWS Group

Nick Bone – Head of International Media Relations

+44 207 547 2603

Email: nick.bone@dws.com

Categories: News

Tags:

Elysian Capital II LP realisation and Elysian Capital CV I LP in Fortis IBA

Elysian Capital

Elysian Capital LLP is pleased to announce the realisation of Elysian Capital II LP’s interests in Fortis IBA with the completion of a Continuation Vehicle.

Fortis is a leader in the circular economy, processing the Incinerator Bottom Ash (IBA) that remains after energy is created from waste to recover metals and produce a low carbon aggregate for use in construction.

Elysian invested in the Raymond Brown group of companies in 2016, subsequently selling Raymond Brown Waste Solutions Ltd in 2019 and separating the Fortis and Quarry divisions into individual entities earlier this year. Since Elysian invested, the Fortis business has moved from two IBA processing locations to four and doubled the volume of IBA processed. There is a strong pipeline of contracts while planned plant upgrades should enhance metal revenue yields.

Ken Terry, CEO said: “We are delighted to have closed the Continuation Vehicle, delivering a good return for Fund II and offering our new investors the opportunity to support Fortis’s exciting growth story.”

The Continuation Vehicle was led by Flexstone Partners with Mercer as co-lead and the transaction not only provided funds for exiting Fund II investors, but also new capital for the expansion of the Fortis Group.

Elysian Capital was advised by: Raymond James (placing agent), Stephenson Harwood (legal); Alvarez and Marsal (tax).

Categories: News

Tags: