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Apollo Announces 2025 Annual Meeting of Stockholders

Apollo logo

NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that its 2025 Annual Meeting of Stockholders will be held virtually on June 6, 2025, at 9:30 am ET. The record date for the meeting is April 14, 2025. Information on the virtual meeting will be included in the 2025 proxy statement.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Forward-Looking Statements

This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, liquidity and capital resources and the other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “will,” “should,” “could,” or “may,” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. These statements are subject to certain risks, uncertainties and assumptions, including but not limited to those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (“SEC”) on February 24, 2025, as such factors may be updated from time to time in Apollo’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Apollo’s filings with the SEC. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts

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

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

Categories: News

Apollo to Acquire Bridge Investment Group

Apollo logo

Scaled Investment Platform Expands Apollo’s Origination Capabilities in Residential and Industrial Real Estate

Bridge Manages $50 Billion of High-Quality AUM in Complementary Sectors Aligned with Apollo’s Long-Term Growth Strategy

NEW YORK and SALT LAKE CITY, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion.

Founded in 2009, Bridge is an established leader in residential and industrial real estate as well as other specialized real estate asset classes. Led by an experienced senior leadership team and over 300 dedicated investment professionals with significant real estate investment and operating expertise, Bridge’s forward-integrated model, nationwide operating platform and data-driven approach have fostered organic growth and consistently produced desirable outcomes across asset classes.

Bridge will provide Apollo with immediate scale to its real estate equity platform and enhance Apollo’s origination capabilities in both real estate equity and credit, which is expected to benefit Apollo’s growing suite of hybrid and real estate product offerings. Bridge manages approximately $50 billion of high-quality AUM in real estate products targeting both institutional and wealth clients and is expected to be highly synergistic with Apollo’s existing real estate equity strategies and leading real estate credit platform. The transaction is expected to be immediately accretive to Apollo’s fee-related earnings upon closing.

Apollo Partner and Co-Head of Equity David Sambur said, “We are pleased to announce this transaction with Bridge, which is highly aligned with Apollo’s strategic focus on expanding our origination base in areas of our business that are growing but not yet at scale. Led by a respected real estate team including Executive Chairman Bob Morse and CEO Jonathan Slager, Bridge brings a seasoned team with deep expertise and a strong track record in their sectors. Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge’s products by leveraging the breadth of our integrated platform. We look forward to working with Bob and the talented Bridge team as we seek to achieve the strategic objectives we laid out at our recent Investor Day.”

Bridge Executive Chairman Bob Morse said, “We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence. This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009 as we work to pursue meaningful value and impact for our investors and communities. With Apollo’s global integrated platform, resources, innovation and established expertise, we are confident that Bridge will be positioned for the next phase of growth amid growing demand across the alternative investments space.”

Transaction Details
Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive, at closing, 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively.

Upon the closing of the transaction, Bridge will operate as a standalone platform within Apollo’s asset management business, retaining its existing brand, management team and dedicated capital formation team. Bob Morse will become an Apollo Partner and lead Apollo’s real estate equity franchise.

A special committee of independent directors for Bridge (the “Special Committee”), advised by its own independent legal and financial advisors, reviewed, negotiated and unanimously recommended approval of the merger agreement by the Bridge Board of Directors, determining that it was in the best interests of Bridge and its stockholders not affiliated with Bridge management and directors. Acting upon the recommendation of the Special Committee, the Bridge Board of Directors approved the merger agreement. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions for transactions of this nature, including approval by a majority of the Class A common stock and Class B common stock of Bridge, voting together and the receipt of regulatory approvals. Certain members of Bridge management and their affiliates, collectively owning approximately 51.4% of the outstanding voting power of the Class A common stock and Class B common stock of Bridge, have entered into voting agreements in connection with the transaction and have agreed to vote in favor of the transaction in accordance with the terms therein. Subject to and upon completion of the transaction, shares of Bridge common stock will no longer be listed on the New York Stock Exchange and Bridge will become a privately held company.

Further information regarding terms and conditions contained in the definitive merger agreement will be made available in Bridge’s Current Report on Form 8-K, which will be filed in connection with this transaction.

Bridge Fourth Quarter and Full-Year 2024 Earnings
Bridge will no longer be holding its fourth quarter and full-year 2024 earnings conference call and webcast scheduled for February 25, 2025, due to the pending transaction.

Advisors
BofA Securities, Citi, Goldman, Sachs & Co. LLC, Morgan Stanley & Co. LLC and Newmark Group are acting as financial advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel and Sidley Austin LLP is acting as insurance regulatory counsel to Apollo. J.P. Morgan Securities LLC is serving as financial advisor to Bridge and Latham & Watkins LLP is acting as legal counsel. Lazard is serving as financial advisor to the special committee of the Bridge Board of Directors and Cravath, Swaine & Moore LLP is acting as legal counsel.

Statement Regarding Forward-Looking Information

This press release contains statements regarding Apollo, Bridge, the proposed transactions and other matters that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, discussions related to the proposed transaction between Apollo and the Company, including statements regarding the benefits of the proposed transaction and the anticipated timing and likelihood of completion of the proposed transaction, and information regarding the businesses of Apollo and the Company, including Apollo’s and the Company’s objectives, plans and strategies for future operations, statements that contain projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that Apollo and the Company intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “indicator,” “may,” “will,” “should,” “expects,” “plans,” “seek,” “anticipates,” “plan,” “forecasts,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions, but not all forward- looking statements include such words. These forward-looking statements are subject to certain risks, uncertainties and assumptions, many of which are beyond the control of Apollo and the Company, that could cause actual results and performance to differ materially from those expressed in such forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, those factors and risks described under the section entitled “Risk Factors” in Apollo’s and the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and such reports that are subsequently filed with the Securities and Exchange Commission (the “SEC”).

The forward-looking statements are subject to certain risks, uncertainties and assumptions, which include, but are not limited to, and in each case as a possible result of the proposed transaction on each of Apollo and the Company: the ultimate outcome of the proposed transaction between Apollo and the Company, including the possibility that the Company’s stockholders will not adopt the merger agreement in respect of the proposed transaction; the effect of the announcement of the proposed transaction; the ability to operate Apollo’s and the Company’s respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement and the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction (including the adoption of the merger agreement in respect of the proposed transaction by the Company’s stockholders); other risks related to the completion of the proposed transaction and actions related thereto; the ability of Apollo and the Company to integrate the businesses successfully and to achieve anticipated synergies and value creation from the proposed transaction; global market, political and economic conditions, including in the markets in which Apollo and the Company operate; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; the global macro-economic environment, including headwinds caused by inflation, rising interest rates, unfavorable currency exchange rates, and potential recessionary or depressionary conditions; cyber-attacks, information security and data privacy; the impact of public health crises, such as pandemics and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; litigation and regulatory proceedings, including any proceedings that may be instituted against Apollo or the Company related to the proposed transaction; and disruptions of Apollo’s or the Company’s information technology systems.

These risks, as well as other risks related to the proposed transaction, will be included in the Registration Statement (as defined below) and Joint Proxy Statement/Prospectus (as defined below) that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the Registration Statement and Joint Proxy Statement/Prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Other unknown or unpredictable factors also could have a material adverse effect on Apollo’s and the Company’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, neither Apollo nor the Company undertakes (and each of Apollo and the Company expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

No Offer or Solicitation

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

Additional Information Regarding the Transaction and Where to Find It

This press release is being made in respect of the proposed transaction between Apollo and the Company. In connection with the proposed transaction, Apollo intends to file with the SEC a registration statement on Form S-4, which will constitute a prospectus of Apollo for the issuance of Apollo common stock (the “Registration Statement”) and which will also include a proxy statement of the Company for the Company stockholder meeting (together with any amendments or supplements thereto, and together with the Registration Statement, the “Joint Proxy Statement/Prospectus”). Each of Apollo and the Company may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Registration Statement or Joint Proxy Statement/Prospectus or any other document that Apollo or the Company may file with the SEC. The definitive Joint Proxy Statement/Prospectus (if and when available) will be mailed to stockholders of the Company.

INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the Registration Statement and Joint Proxy Statement/Prospectus (if and when available) and other documents containing important information about Apollo, the Company and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by Apollo will be available free of charge by accessing the Investor Relations section of Apollo’s website at https://ir.apollo.com. Copies of the documents filed with, or furnished to, the SEC by the Company will be available free of charge by accessing the Investor Relations section of the Company’s website at https://www.bridgeig.com. The information included on, or accessible through, Apollo’s or the Company’s website is not incorporated by reference into this communication.

Participants in the Solicitation

Apollo, the Company, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the proposed transaction. Information about the directors and executive officers of Apollo, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated April 26, 2024 (the “Apollo Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of Apollo’s securities by Apollo’s directors or executive officers from the amounts described in the Apollo Annual Meeting Proxy Statement have been or will be reflected in Initial Statements of Beneficial Ownership of Securities on Form 3 (“Form 3”), Statements of Changes in Beneficial Ownership on Form 4 (“Form 4”) or Annual Statements of Changes in Beneficial Ownership of Securities on Form 5 (“Form 5”) subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Information about the directors and executive officers of the Company, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated March 21, 2024 (the “Company Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of the Company’s securities by the Company’s directors or executive officers from the amounts described in the Company Annual Meeting Proxy Statement have been or will be reflected on Forms 3, Forms 4 or Forms 5, subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Registration Statement and the Joint Proxy Statement/Prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the Registration Statement and the Joint Proxy Statement/Prospectus carefully when available before making any voting or investment decisions.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About Bridge Investment Group
Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $50 billion of assets under management as of December 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select verticals across real estate, credit, renewable energy and secondaries strategies.

Contacts

For Apollo:

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
ir@apollo.com

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

For Bridge:

Shareholder Relations:
Bonni Rosen Salisbury
Bridge Investment Group Holdings Inc.
shareholderrelations@bridgeig.com

Media:
Charlotte Morse
Bridge Investment Group Holdings Inc.
(877) 866-4540
charlotte.morse@bridgeig.com

H/Advisors Abernathy
Eric Bonach / Dan Scorpio
(917) 710-7973 / (646) 899-8118
eric.bonach@h-advisors.global / dan.scorpio@h-advisors.global

Categories: News

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InvestCloud Announces Founding Partnership with Apollo Enabling Groundbreaking Private Markets Account™ Network for Integrated Management of Public and Private Markets Assets

Apollo logo
InvestCloud to enable multiple service providers across the InvestCloud PMA Network to seamlessly access the full suite of capabilities to manage alternative investments on InvestCloud APL, a market-leading managed account platform with more than $3 trillion of assets on the platform
Apollo to provide private markets model portfolios enabling a financial advisor’s preferred portfolio construction – including fixed income, equity and real asset private market replacement solutions, risk-based portfolios and outcome-based solutions – across the InvestCloud platform 

Los Angeles, CA – February 20, 2025 – InvestCloud, a global leader in wealth technology, today announced a founding partnership with Apollo (NYSE: APO) to activate the Private Markets Account Network (PMA Network), which was launched with the first-of-its-kind Private Markets Account (PMA) in December 2024. Only available from InvestCloud, the PMA combines public and private assets within a single, unified platform to enable a seamless wealth management experience for financial advisors and their clients.

This collaboration enables InvestCloud’s wealth management clients to incorporate Apollo’s private market model portfolios, and multi-manager models, into their managed account programs through its industry-leading APL platform. By offering efficient access to private markets alongside traditional public market securities, the partnership empowers thousands of advisors to diversify portfolios with confidence and achieve better investment outcomes for millions of clients.

The PMA Network is a connected ecosystem of asset managers, wealth managers, intermediaries, distributors and model creators that will include access to Apollo’s private market model portfolios within the PMA, a centralized point for holding, valuing and rebalancing alternative investments for those who are eligible. The PMA Network will use the InvestCloud platform to connect wealth managers to an array of alternative asset managers, making private markets products available for inclusion in portfolios. Apollo is the founding alternative asset manager in the PMA Network, leading the market on combining private and public market investments in a single portfolio.

“The PMA Network is a unique InvestCloud innovation designed to crack the code on how wealth managers, financial advisors and investors access private markets to deliver a unique and seamless public-private investment experience,” said Jeff Yabuki, Chairman and CEO of InvestCloud. “By combining Apollo’s deep private market expertise with our leading technology, we are dramatically accelerating the integration of private markets into the wealth management landscape.”

Yabuki added, “We are thrilled to have Apollo as the founding alternative asset manager to join the PMA Network, which connects private markets asset managers, wealth managers and other suppliers. The Network is further democratizing access to private markets, helping our clients to achieve better outcomes for their customers. The PMA is a truly innovative solution, and the close partnership with Apollo creates an unrivalled capability, offering and platform.”

“The convergence of private and public markets is shaping the future of wealth management. Apollo is investing heavily to provide the global wealth market access to private markets investments and seamless infrastructure for advisors to integrate these solutions into their broader client portfolios. Today’s announcement is the culmination of months of deep collaboration with InvestCloud, a partnership we believe marks a pivotal step for the wealth management industry to broadly manage true total-market portfolios. Leveraging InvestCloud’s world-class platform, and client base of leading wealth management firms, Apollo and other general partners within the PMA Network can gain unparalleled access to distribution channels, creating new possibilities for the entire ecosystem,” said Stephanie Drescher, Partner and Chief Client and Product Development Officer at Apollo Global Management.

Apollo’s portfolio strategies include a wide range of private market investments. Designed to simplify and align with advisors’ preferred portfolio construction approach, Apollo’s model solutions can support full fixed income, equity and real asset replacement solutions to create complementary risk-based total market portfolios, as well as outcome-based private market solutions.

Originally unveiled in December 2024, InvestCloud’s Private Markets Account is poised to evolve further in 2025 with enhanced capabilities to help clients stay ahead of the market. The PMA is enabled by APL from InvestCloud, which is the largest managed accounts platform in the country with more than $3 trillion of assets across nearly 10 million accounts utilizing nearly 4 million models on its market-leading technology. APL will bring the innovation of the PMA to the network, with enhanced efficiency and effectiveness.

About InvestCloud

InvestCloud, a global leader in wealth technology, aspires to enable a smarter financial future. Driving the digital transformation of the wealth management industry, the company serves a broad array of clients globally, including Wealth and Asset Managers, Wirehouses, Banks, RIAs, and Insurers. In terms of scale, the company’s clients represent more than 40 percent of the $132 trillion of total assets globally. As a leader in delivering personalization and scale across advisory programs, including unified managed accounts (UMA) and separately managed accounts (SMA), the company is committed to the success of its clients. By equipping and enabling advisors and their clients with connected technology, enhanced intelligence, and inspired experiences, InvestCloud delivers leading digital wealth management and financial planning solutions, complemented by a dynamic data warehouse, which scale across the complete wealth continuum. In 2024, InvestCloud introduced the first-of-its-kind Private Markets Account™ and Private Markets Account Network to enable integrated management of public and private markets assets from a single, unified managed account. InvestCloud was also named a CNBC World’s Top Fintech Company, a proof point of the company’s commitment to innovation and client success. Headquartered in the United States, InvestCloud serves clients around the world. Learn more at:  https://investcloud.com/pma/

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately USD $751 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Forward-Looking Statements

This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business and other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in Apollo’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in Apollo’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Apollo’s other filings with the SEC. Apollo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contact Information
InvestCloud

Britt Zarling
Managing Director, Marketing & Communications
Motive Partners
(414) 526-3107
britt.zarling@motivepartners.com

Apollo

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

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

Categories: News

KKR Acquires Controlling Stake in Indian Healthcare Provider Healthcare Global Enterprises for $400 Million

KKR

KKR to be the largest and controlling shareholder

MUMBAI, India–(BUSINESS WIRE)– KKR, a leading global investment firm, and Healthcare Global Enterprises (BSE: 539787; NSE: HCG; “HCG”), a leading healthcare organization in India, today announced the signing of definitive agreements with CVC, a leading global private markets manager, under which funds managed by KKR (“KKR”) will become the largest shareholder in HCG and assume sole control of HCG’s operations. Dr. BS Ajaikumar, Founder of HCG, will take on the role of Non-Executive Chairman and be focused on driving clinical, academic and research and development excellence.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250223150894/en/

As part of the transaction, KKR will acquire up to 54% of equity in HCG from CVC Asia V at a purchase price of INR 445 per share. Pursuant to the Securities and Exchange Board of India’s (“SEBI”) Takeover Regulations, an open offer will be conducted by KKR to purchase additional equity shares in HCG from public shareholders. Upon completion of the transaction, KKR is expected to hold an equity stake of between 54-77%.

Founded in 1989, HCG is one of India’s largest oncology hospital chains. HCG operates 25 medical care centers across 19 cities with best-in-class infrastructure including 2,500 beds, nearly 100 operating theaters and 40 linear accelerator machines (LINACs).

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “HCG is a pioneer in cancer care in India and has established itself as an important healthcare provider in the country for the past three decades. As healthcare continues to be a thematic focus for KKR in India, our investment in HCG will support the development of medical infrastructure and the delivery of critical oncology services and care to more patients in the country. We look forward to leveraging KKR’s global healthcare expertise to strengthen HCG’s offerings and working with Dr. BS Jaikumar to further enhance HCG’s clinical excellence.”

Dr. BS Ajaikumar, Founder, HCG, said, “I want to thank CVC for their support through the years, helping the management to put HCG in the strong position it is in today. I am delighted to welcome KKR, with their investment and operational expertise in healthcare in India and globally, as a majority shareholder in HCG. Patient well-being and outcomes will always be a top priority for us at HCG, and in my new role as Non-Executive Chairman, I will focus on clinical aspects involving multi-disciplinary approach to cancer care, and research and development; and look forward to the journey of HCG where it continues to stay at the forefront of clinical excellence, research, and academics.”

Siddharth Patel, Managing Partner, CVC, said, “We are proud to have supported HCG’s transformation at a critical juncture in time to build it into one of India’s leading healthcare organizations and the delivery of high-quality care to many patients over the years.” Amit Soni, Partner, CVC added, “Our partnership with Dr. Ajaikumar and the management team is a testimony to the ability to combine clinical and professional acumen to increase the reach of cancer care in India. We thank Dr. Ajai and the management for their unparalleled support and commitment to a common vision.”

KKR makes its investment from its Asia Fund IV. This transaction marks KKR’s latest investment in India’s healthcare space. Past investments in this sector have included Baby Memorial Hospital, a leading regional multi-specialty hospital chains in India; Healthium, a leading Indian medical devices company; Infinx, a tech-enabled healthcare revenue solutions provider; Max Healthcare, one of India’s largest hospital networks; JB, a leading branded formulations pharmaceutical company in India and Gland Pharma, a leading Indian pure-play generic injectable pharmaceutical products company.

The transaction is expected to close by the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

About HCG

HealthCare Global Enterprises Ltd. (HCG), headquartered in Bengaluru, is one of the largest providers of cancer care in India. Through its network of 25 comprehensive cancer centers, HCG has brought advanced cancer care to the doorstep of millions of people. HCG’s comprehensive cancer centers provide expertise and advanced technologies for the effective diagnosis and treatment of cancer under one roof.

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 CVC

CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €200 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of approximately €249 billion from some of the world’s leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 140 companies worldwide, which have combined annual sales of over €162 billion and employ over 580,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.

Media Inquiries
For HCG
Shipali S Poojary
shipali.p@hcgel.com

For KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For CVC
Delna Irani
Adfactors PR
+91 22 6757 4444
cvc@adfactorspr.com

Source: KKR

 

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Easelink awarded €11.5 million funding to advance automated EV charging standardisation

SET Ventures

The European Innovation Council (EIC) has awarded Easelink €11.5 million in funding for its pioneering EV Matrix Charging® technology. This financial support underlines the strategic fit between Easelink’s goal of setting the standard for automated EV charging with the European Union’s objective to drive carbon neutrality by promoting EVs and their integration into a smart energy system.

Easelink succeeded in the most competitive EIC funding round to date. The 2nd phase of the EIC Accelerator closed in October 2024 with 1,211 submitted applications. Of these applications, the jury invited 431 (36%) to interviews in Brussels and 71 companies received funding.

“We are delighted about the EIC support. It underlines that our standardisation efforts are in line with the EU’s electrification strategy.” says Hermann Stockinger CEO and founder of Easelink. “When it comes to automated charging interoperability is key. At Easelink we are not only tech innovators in the field of charging. We also see ourselves as a reliable entity that ensures and protects the global cross-brand interoperability of Matrix Charging.”, he further emphasizes. To achieve this, Easelink is establishing worldwide partnerships in the automotive and energy sectors with great progress currently being made in Europe, China and Japan. Together with selected OEMs and other key players, Easelink is working on the next necessary standardisation steps alongside the ongoing Matrix Charging® series development.

To prepare Matrix Charging®’s commercialisation and its market launch Easelink is now seeking further technology funding in the form of venture capital. Easelink’s Matrix Charging® system provides a fully automated charging experience, eliminating the need to manually plug in an EV. The system consists of a vehicle unit and a charging pad installed on the parking space. It is compatible with most major electric vehicle platforms and is available in retrofit and factory-installed options. This cost-effective and energy-efficient automated charging system is suitable for both premium and volume segment vehicles.

About Easelink

Easelink is a high-tech company headquartered in Graz, Austria, and dedicated to the development of the automated conductive charging solution “Matrix Charging®” for electric vehicles. The innovative character of Easelink can be seen in its many patents and trademarks. Easelink, with sites in Austria and China, currently has 40 employees and actively contributes to various standardization bodies for charging technology, such as the relevant working groups of the Charging Interface Initiative (CharIn), the International Electrotechnical Commission (IEC) and the International Organization for Standardization (ISO). Within the framework of cooperative projects, a number of leading automotive manufacturers and suppliers, infrastructure providers and vehicle fleet operators are already making use already of the innovative Matrix Charging® technology.

About Matrix Charging® by Easelink

With the Matrix Charging® technology, the electric vehicle is charged automatically without the need to manually plug in a charging cable. As soon as the vehicle is positioned above a fixed charging pad in the parking lot, the Matrix Charging® Pad, a so-called Connector is lowered from the underbody of the vehicle. The Connector connects to the Matrix Charging® Pad fully automatically.

Patricia Krenn, MSc
Head of Marketing & Communications
Mobil: +43 (0) 676 848 741 220
Email: patricia.krenn@easelink.com
Webpage: www.easelink.com

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Tikehau Capital has entered into exclusive discussions to sell LMB Aerospace to Loar Group

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Tikehau

Tikehau Capital, the global alternative asset management group, along with Amundi Private Equity Funds, investors from Credit Agricole group —including IDIA Capital Investissement— and Arkéa Capital, announce that they have entered into exclusive discussions with Loar Group, an aerospace and defence components specialist headquartered in New York, for the sale of LMB Aerospace, a leading designer, producer and distributor of high-performance electric fans and cooling solutions for aerospace and defence applications.

Founded over 60 years ago and headquartered in France, LMB Aerospace has established itself as a global specialty leader in the design, production and distribution of high-performance and customised electric fans and cooling solutions for aerospace and defence applications. With approximately 75 employees, the company has built a strong market position in the defence sector, fostering long-term relationships with Tier 1 clients and OEMs.

Thomas Bernard, LMB Aerospace’s CEO moved to the US in 2016 to develop the North American market. Today, the company generates 30% of its revenues in the US.

Tikehau Capital invested in LMB Aerospace in 2022 through its flagship private equity aerospace and defence strategy, aiming to strengthen and expand the company’s footprint in Europe and North America while diversifying its offerings across new verticals. This transaction would make the third divestment of Tikehau Capital’s private equity strategy dedicated to aerospace and defence.

Under the existing shareholders, LMB Aerospace has accelerated its expansion, reinforcing its market position and capitalising on strong commercial momentum. Since 2021, revenues have grown annually by nearly 15% on average, driven by new contract wins, particularly in Europe and an ongoing expansion in the defence sector. The company has generated a turnover of c. €40 million leveraging its scalable and asset-light model in a rapidly growing addressable market.

Throughout the investment period, Tikehau Capital, along with Amundi and IDIA Capital Investissement, has supported LMB Aerospace’s strategic growth and development by strengthening its senior management team with key hires, encouraging organisational enhancements in support functions and operations, and preparing the company for its next growth phase through active analysis of various inorganic opportunities. In addition, LMB Aerospace has continued to successfully expand its commercial presence in North America, increasing regional revenues from €7 million in 2021 to an estimated €13 million in 2025 (>15% CAGR), with the region remaining a key focus for future growth.

As LMB Aerospace enters its next phase of development, Loar Group aims to provide a strong strategic platform to further enhance its capabilities and market reach. With deep expertise in the design, manufacture, and sale of niche aerospace and defence components across 250+ aircraft platforms, Loar Group is well-positioned to support LMB Aerospace’s continued growth and innovation in the thermal management solutions market.  Completion of the potential transaction remains subject to the satisfaction of the required regulatory clearance condition.

Henri Marcoux, Deputy CEO, and Emmanuel Laillier, Head of Private Equity, at Tikehau Capital, declared: “The sale of LMB Aerospace would mark the third divestment of our flagship private equity aerospace and defence strategy, reflecting our commitment to building resilient, high-performance businesses in the sector. Through targeted investments, strategic hires and operational enhancements, Tikehau Capital has strengthened LMB Aerospace’s market position and expanded its presence in key regions. We are confident that under its new ownership, the company will continue its strong trajectory and capitalise on future opportunities.”

Thomas Bernard, CEO of LMB Aerospace, added: “Over the past years, LMB Aerospace has strengthened its position as a key player in high-performance cooling solutions for aerospace and defence. With the support of Tikehau Capital, Amundi and IDIA Capital Investissement, we have expanded our reach in North America and further enhanced our capabilities to serve our global customers. As we enter this exciting new chapter with Loar Group, we look forward to leveraging their expertise and industry network to accelerate our growth and continue delivering innovative thermal management solutions to our partners worldwide.”

ABOUT TIKEHAU CAPITAL

Tikehau Capital is a global alternative asset management Group with €49.6 billion of assets under management (at 31 December 2024). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multiasset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.2 billion of shareholders’ equity at 31 December 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 747 employees (at 31 December 2024) across its 17 offices in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

PRESS CONTACTS:

Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30

UK – Prosek Partners: Philip Walters – +44 (0)7773331589

USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238

press@tikehaucapital.com

SHAREHOLDER AND INVESTOR CONTACTS

(Tikehau Capital): Louis Igonet – +33 1 40 06 11 11

Théodora Xu – +33 1 40 06 18 56

Julie Tomasi – +33 1 40 06 58 44

shareholders@tikehaucapital.com

ABOUT LMB AEROSPACE

Founded over 60 years ago and headquartered in France, LMB offers a wide range of Military grade, high-performance fans and cooling solutions for Aerospace, Naval and Military applications. With over 1,500 off-the-shelf qualified products, our engineering and manufacturing teams give us a competitive edge for new development. LMB specializes in flexibility and reactivity with customizing products to meet customer specifications and MIL-STD-810 / RTCA DO-160 standards. LMB certifications include ISO9100-AS9100, EASA Part 21G & 145 repair stations. 3 PRESS RELEASE  PARIS, NEW YORK 21 FEBRUARY 2025

DISCLAIMER

The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.

Categories: News

Sparta secures $42M Series B led by One Peak to transform commodity trading with AI-powered insights and collaboration

Onepeak

Geneva, Switzerland – 24th February 2025 – Sparta, a market-leading provider of real-time intelligence for commodity traders, has secured $42 million in Series B funding led by One Peak, with continued backing from Singular and FirstMark. This investment fuels Sparta’s expansion beyond oil and gas, accelerating its vision to evolve from a data provider into a full-scale AI-powered trading platform – an industry-wide operating system that empowers traders with actionable intelligence and collaborative decision-making.

A Vision Born from Experience

Founded by former traders Felipe Elink Schuurman and Miles Moseley, Sparta was born out of first-hand frustration with the inefficiencies of commodity trading. For years, traders relied on fragmented data buried in endless spreadsheets, hoarding information as a competitive advantage. But today, success depends on real-time insights, seamless collaboration, and AI-driven analytics – not outdated spreadsheets and siloed data.

Recognizing this shift, Sparta has revolutionized how traders, analysts, and risk managers access and act on data. With a robust history of automating global trading workflows, Sparta now sets its sights on harnessing AI to unlock predictive insights, optimize price and volume forecasting, and streamline decision-making for traders worldwide.

“Today’s team-based incentives demand tools that turn isolated insights into collective alpha.”, said Felipe Elink Schuurman, CEO and Co-Founder of Sparta. “To maximize profits, traders need live, granular, customizable data. They also need an AI-powered operating system to analyze, visualize, collaborate, and ultimately help them build conviction”.

Expanding Beyond Oil: The Next Era of Commodity Trading

With this latest funding round, Sparta is set to expand into new commodities beyond oil and gas, leveraging its cutting-edge technology to serve a broader market. The company aims to evolve from a traditional data vendor into a comprehensive trading intelligence platform that enables traders, analysts, and risk managers to collaborate, analyze data, and make real-time decisions within a seamless operating system. Additionally, Sparta will enhance its AI-driven capabilities to identify key market signals, uncover trade patterns, and improve price and volume forecasting, solidifying its position as the trusted AI co-pilot for the industry.

A New Era of Trading Customization, Collaboration and Efficiency

The commodity trading industry is still reliant on legacy tools designed for a different era—one where individual traders thrived on data silos, secrecy, and fragmented knowledge. But the landscape has changed. Today, firms prioritize teamwork over individual performance. Information is no longer exclusive but widely accessible. Leading companies are racing to build centralized data platforms that foster real-time collaboration and decision-making.

Sparta is answering this new demand. By transforming how traders access, share, and act on data, the company is not just solving today’s problems—it is setting the foundation for the future of commodity trading. With its AI-driven platform, Sparta aims to become the next financial data powerhouse, reshaping the industry in the same way that Bloomberg and Thomson Reuters redefined financial markets decades ago.

“This funding is not just about growth—it’s about redefining the way the industry operates,” said Felipe Elink Schuurman. “We are building more than a platform; we are creating the intelligent infrastructure that will power the next generation of commodity trading.”

“In One Peak, we’ve found the perfect partner to execute this vision. Throughout the funding process, we were thoroughly impressed by their deep expertise, strategic insight, and commitment to our vision. Their understanding of our industry and growth potential made them the clear choice to lead our Series B raise. We’re excited to partner with One Peak as we take Sparta to the next level.”

David Klein, Co-Founder and Managing Partner at One Peak, commented, “We are thrilled to support Sparta in revolutionizing commodities trading with AI-powered intelligence and insights for physical and paper trades. The world-class team at Sparta, led by Felipe and Miles, has built a truly innovative platform that doesn’t only solve today’s challenges but also positions Sparta at the forefront of the next AI-powered wave of trading technology.”

“We’re excited to help accelerate Sparta’s dynamic growth and scale the platform across new markets. This investment aligns perfectly with our mission to back exceptional entrepreneurs in market-leading software businesses, and we have no doubt that Sparta will continue to redefine the commodities trading ecosystem.”

About Sparta

Sparta is a leading provider of real-time market intelligence and analytics for global commodity traders. Our cutting-edge technology delivers actionable insights, price transparency, and data-driven decision-making tools, empowering traders to stay ahead in fast-moving markets. With a commitment to innovation and accuracy, Sparta serves a diverse client base, from independent traders to multinational corporations.

To learn more, visit www.spartacommodities.com.

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CVC Credit prices three CLO transactions in a week

CVC Capital Partners

CVC Credit, the $46 billion global credit management business of CVC, is pleased to announce the successful pricing of Apidos LII, a new $400 million (c.€380 million) Collateralized Loan Obligation (“CLO”), along with the reset of Apidos XLII, which now totals approximately $550 million (c.€525 million). These two transactions, plus the recently announced pricing of Cordatus XXXIV in Europe, mark a strong start to 2025 for CVC Credit’s Performing Credit platform, bringing CVC’s aggregate value of new and reset CLO pricings so far in 2025 to $1.9bn (c.€1.8bn).

The pricing of Apidos LII is CVC Credit’s first new U.S. CLO of the year and was met with strong market demand. The transaction features a five-year reinvestment period, supported by an actively managed, diversified portfolio of senior secured loans and bonds. On the date of pricing, the portfolio was over 90% ramped. Deutsche Bank acted as lead arranger.

The reset of Apidos XLII, which was originally priced in Q4 2022, was well received by the market. This transaction extends the reinvestment period by an additional five years and further optimises the structure.

Cary Ho, Partner and Global Head of CLO Origination at CVC Credit, said: “The successful pricing of Apidos LII and the reset of Apidos XLII underscore the strength of our CLO business and our ability to capitalise on favourable market conditions. We are pleased to continue to deliver consistent performance for our investors through the active management of all our CLO vehicles.”

Quotes

The successful pricing of Apidos LII and the reset of Apidos XLII underscore the strength of our CLO business and our ability to capitalise on favourable market conditions.

Cary HoPartner and Global Head of CLO Origination at CVC Credit

Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, added: “2025 is off to a strong start and we remain grateful for the continued support of our investors. Our global team remains committed to delivering attractive, risk-adjusted returns across all market cycles and we are excited about what’s to come in the rest of the year.”

CVC Credit has nearly 20 years of experience in successful CLO issuance, performing credit and active portfolio management, with proven experience in delivering attractive risk-adjusted performance through varied credit market cycles.

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Surf Internet Raises $175 Million in New Equity and Secures Upsized $300 Million Debt Facility to Support Continued Network Expansion Across the Great Lakes Region

Cdpq
Following strong growth in 2024, new funding accelerates fiber deployment, bringing high-speed connectivity to more underserved communities.

As Surf Internet® celebrates 25 years of pioneering connectivity, the company has raised $175 million in new equity funding and secured an upsized $300 million debt facility, reinforcing its commitment to delivering fiber-optic broadband to underserved communities across the Great Lakes Region.

The equity investment was led by Macquarie Capital, with participation from existing investors Bain Capital and Post Road Group. The debt upsize, led by DigitalBridge Credit, includes a new commitment from global investment group CDPQ, along with participation from Boundary Street Capital and Liberty Mutual Investments. This builds upon Surf’s existing $200 million debt facility, which includes prior lending commitments from Canada Pension Plan Investment Board (CPP Investments).

Together, these investments provide Surf with the financial flexibility to expand its fiber-optic network, enhance multigig capabilities, and reach 275,000 fiber passings in 2025.

“This combined financing strengthens our ability to scale while maintaining long-term financial sustainability,” said Ryan Delack, CFO of Surf Internet. “With the backing of Macquarie Capital and continued support from our existing investors, we are well-positioned to accelerate fiber deployment and bring reliable, high-speed internet to more communities.”

“Surf Internet has an impressive track record in deploying and commercializing fiber infrastructure and has a clear path for future growth,” said Sam Southall, Managing Director at Macquarie Capital. “This investment reflects our confidence in its leadership, strategy, and ability to scale in a rapidly evolving industry.”

“Strong demand for fiber connectivity continues to drive investment in critical broadband infrastructure,” said Chris Moon, Managing Director at DigitalBridge Credit. “We are excited to continue to support Surf’s next phase of growth as they expand across the Great Lakes Region, reinforcing our commitment to enabling the next wave of digital infrastructure expansion.”

The equity transaction closed on February 13, 2025, while the debt transaction closed on February 3, 2025. Houlihan Lokey served as exclusive financial advisor and placement agent to Surf on both transactions, while Kirkland & Ellis LLP acted as legal counsel. Goodwin Proctor LLP served as legal counsel to Macquarie Capital. White & Case LLP served as legal counsel to DigitalBridge Credit as the lead lender.

About Surf Internet

Surf Internet is an innovative fiber-optic internet company that serves as the essential gateway to connectivity across the Great Lakes region of Illinois, Indiana, and Michigan. The company is building a bridge to the wide-open future by delivering high-speed, reliable internet to homes and businesses in underserved, rural communities. Surf’s 300-plus-person team is local, giving them an edge when it comes to customer care and advocacy for the region. Headquartered in Elkhart, Ind., Surf also has offices in La Porte, Ind., Byron Center and Fowlerville, Mich., and Coal City, Naperville, and Rock Falls, Ill. Learn more at https://surfinternet.com.

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KKR Invests in Stockholm Multifamily Housing Development Led by Reliwe and Derome

KKR

STOCKHOLM–(BUSINESS WIRE)– Global investment firm KKR today announced the agreement with leading Swedish developers Reliwe and The Derome Group for the forward-purchase of three multifamily properties currently under development in Haninge, located just south of the Stockholm city center. The investment is being made by KKR’s European Real Estate strategy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250220298047/en/

Credit: Reliwe / Lindberg Stenberg Arkitekter ABCredit: Reliwe / Lindberg Stenberg Arkitekter AB

The development is comprised of three new properties totaling 382 residential units, expected to be completed between late 2026 and early 2027. Leading Swedish property developer Reliwe is overseeing the development, which includes two timber construction properties being built by Derome, a leading industrial business, and a third traditional concrete construction asset built to a high specification. The development is located adjacent to a bus terminal and railway station, offering excellent connectivity to Stockholm’s city center. The project is designed to meet high environmental standards and will deliver affordable modern urban living space with premium amenities and features.

“We are thrilled to make our first residential investment in Stockholm, which is an attractive market where we are seeing strong momentum towards our objective of building a portfolio of residential units by partnering with best-in-class partners such as Reliwe and Derome,” said Alexander Thams, Head of Nordics Real Estate for KKR. “This development exemplifies the type of high-quality, sustainable residential properties we aim to invest in. With Stockholm’s strong residential market fundamentals and the innovative use of timber construction, we see significant potential to deliver value to our investors while contributing positively to the community.”

“KKR’s decision to make this their first residential investment in Stockholm alongside us is a strong endorsement of what we have built and the innovation we continue to bring to the Swedish residential market. We look forward to delivering high-quality, sustainable residential properties. Central Haninge is a prime growth location, and we see significant potential in developing attractive apartments,” says Gurmo Endale, Partner at Reliwe.

“We are pleased to partner with Reliwe in this transaction with a leading industry player, KKR. Together, we look forward to completing this unique development with a significant share of timber construction, which contributes to sustainability. We are proud that KKR has chosen to invest in timber – a modern and environmentally responsible building solution with long-term benefits,” says Otto Martler, CEO for Derome BoPartner.

KKR will be working with local operating partner Cavendo on managing and growing the Stockholm residential platform. Roschier, Svalner, Red Management and Tango Capital Markets served as advisors on the transaction.

Over the past two years, KKR has committed approximately $550 million (SEK 6 billion) to its Nordics real estate investments, focusing on acquiring high-quality residential and logistics assets and transacting with strategic local counterparties. KKR’s global real estate business invests thematically in high-quality real estate through a full range of scaled equity and debt strategies. KKR’s more than 140 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors.

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 Reliwe

Reliwe is an expansive real estate development company focusing on sustainability and design to create residences to thrive in. Since its establishment, Reliwe has completed over 500 apartments and has 1,550 apartments in production. In addition, the company has made substantial acquisitions of building rights in various cities across Sweden. Reliwe is actively expanding its presence in the Swedish real estate market and is dedicated to developing well designed residential properties. For additional information about Reliwe, please visit Reliwe’s website at www.reliwe.se.

About Derome

Derome is Sweden’s largest family-owned wood industry, managing the entire value chain from forest to finished house. We simplify the customer’s life and promote sustainable development through forest refinement, wood production and sales, construction and industrial products, equipment rental, construction logistics, and residential development. For additional information about Derome, please visit Derome’s website at www.derome.se.

KKR: Nordics
Kekst CNC
Adam Hedengren-Deria
kkr@kekstcnc.com

KKR
Miles Radcliffe-Trenner
media@kkr.com

Derome
Kajsa Karlsson
Kajsa.karlsson@derome.se

Source: KKR

 

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