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KKR To Make Further Investment In Enilive

KKR

London, 18th February 2025 – KKR, a leading global investment firm, today announces that KKR has signed an agreement to acquire an additional 5% stake in Enilive from Eni for a consideration of €587.5 million, taking its total holding in Enilive to 30%.

Enilive is Eni’s mobility transformation company, dedicated to biorefining, biomethane production, smart mobility solutions, and providing services to support people on the move. The additional investment follows KKR’s initial acquisition of a 25% stake in Enilive announced in October 2024, and demonstrates KKR’s commitment to the business and its growth potential as a leader in the energy transition, providing progressively decarbonized services and products in support of sustainability-driven mobility.

Marco Fontana, Managing Director in KKR’s European Infrastructure team, said: “Having first signed our investment in Enilive in October last year, this transaction reiterates our confidence in the business’ ability to provide innovative and effective emission-reducing technology solutions, in line with our strategy to support transformative energy projects across Europe. We’re excited to continue working alongside Eni to further establish Enilive as a market leader.”

KKR has been consistently investing in Italy across asset classes since 2005, with a commitment to supporting the country’s economic and social development. In July 2024, KKR announced the closing of its acquisition of Telecom Italia’s fixed-line network and incorporation into FiberCop, creating the most extensive Italian broadband network serving around 16 million households and helping to fast-track the digital transition in Italy.

KKR’s investment in Enilive has been made through its Global Infrastructure Strategy. The firm first established its Global Infrastructure Strategy in 2008 and has since been one of the most active infrastructure investors around the world, currently managing over $77 billion in infrastructure assets.

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 Enilive:

Enilive is Eni’s company dedicated to biorefining, biomethane production, smart mobility solutions including Enjoy car sharing, and the distribution of all energy carriers for mobility, through its more than 5,000 Enilive Stations in Europe.

Enilive aims to provide progressively decarbonized services and products for the energy transition, contributing to Eni’s goal of achieving carbon neutrality by 2050 also through industrial assets that include the Venice and Gela biorefineries, in Italy; the St. Bernard Renewables LLC (50% joint venture with PBF Energy) in Louisiana (United States of America); numerous biogas plants being converted to biomethane production in Italy, as well as new projects in Livorno, in Malaysia and in South Korea, where further biorefineries are under construction. Enilive plans to increase its biorefining capacity to over 5 million tonnes/year by 2030 and enhance its optionality for Sustainable Aviation Fuel (SAF) production up to 2 million tonnes per year.

Media contacts

Alastair Elwen / Jack Shelley

kkr-lon@fgsglobal.com

+44 20 7251 3801

Giovanni Sanfelice Di Monteforte / Cristiano Signorini

giovanni@tancredigroup.com / cristiano@tancredigroup.com

+44 777 585 8152 / +44 795 041 3690

 

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KKR Enters Into Strategic Partnership With Energy Service Provider EGC

KKR

FRANKFURT, Germany–(BUSINESS WIRE)– KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany. The engineering service provider ITG is also part of the group. The founding family and current shareholders will retain a stake in the company and will remain active members of the management team. Former CEO Germany of GETEC Group, Michael Lowak, will join the group as Chairman, contributing his extensive industry expertise to support the management team in this strategic partnership .

With KKR as a strategic partner, EGC aims to become the leading decarbonization partner for the real estate industry and to accelerate its growth. To this end, the company plans to invest more in both organic and inorganic growth.

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. EGC manages a real estate portfolio of approximately 2 million square meters for over 100 clients and operates around 800 central heating units. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group. This engineering expertise combined with a broad energy services portfolio in particular is the foundation for the group’s strong position.

Buildings account for around a third of global CO2 emissions, mainly through space and water heating. The decarbonization of heating systems in buildings is crucial to achieving the EU’s climate targets. EGC supports landlords in developing solutions to meet their decarbonization goals.

Following the successful completion of the transaction, KKR will support the company in introducing a broad-based employee ownership and engagement model. The program will ensure that all employees are involved in shaping EGC’s future and can participate in the company’s future success. KKR developed this model in 2011 and has since successfully implemented it globally in 60 portfolio companies with more than 150,000 non-management employees.

Corinna Pitz and Dirk Pitz, members of EGC’s management, said: “The collaboration with KKR opens up completely new possibilities for us to further expand our strong market position and to develop our group of companies. In KKR, we have found a partner that shares both our strategic goals and our entrepreneurial approach. KKR is not only an established infrastructure investor, but also has a long history of working with family-run companies. We are very much looking forward to this next phase of growth with KKR, which will open up many new opportunities for our group and employees.”

Michael Lowak, future Chairman of EGC, said: “EGC enables landlords to efficiently plan, implement and finance the decarbonization of their properties. The company is thus making a significant contribution to both the real estate industry and the energy transition in Germany. I look forward to bringing my experience and industry knowledge to EGC and working with KKR to further drive the company’s growth.”

Ryan Miller, Managing Director in KKR’s European Infrastructure team, commented: “To advance the energy transition in Germany at the necessary pace, we need creative solutions and long-term capital. We are seeing growing interest in contracting solutions and significant potential in what is still a very fragmented market. Together with the management team, we want to develop EGC into the leading decarbonization partner for the real estate industry and drive forward the energy transition in Germany.”

KKR has extensive expertise in global infrastructure investments, particularly in the energy sector, and is committed to continuing to investing in the future of renewable energy. With approximately USD 77 billion in infrastructure assets under management, including more than USD 21 billion invested in the energy transition, KKR brings a global investment perspective, extensive experience in large-scale infrastructure projects and a proven track record in high-profile transactions in Europe such as Encavis, Vantage Towers, Zenobe, or Greenvolt. In Germany, KKR has invested more than EUR 18 billion of long-term equity in more than 35 companies in various alternative asset classes since the late 1990s, primarily in partnership with founders, family businesses and corporations. The strategic partnership with EGC builds on KKR’s long track record of working with family businesses in Germany.

KKR is funding the investment as part of its Global Climate Strategy, through which KKR is investing at scale in solutions that support the transition to a low-carbon economy.

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 EGC

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. The company manages a real estate portfolio of over 2 million square meters for over 100 clients and operates around 800 central heating units. Customers of EGC include private and public housing companies, institutional real estate investors such as insurance companies, banks, and investment companies. The group provides services for new constructions and existing buildings, for single properties as well as entire real estate portfolios. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group.

Learn more about us: www.egc-fm.de

KKR

Thea Homscheid
Mobile: +49 (0) 172 13 99 761
E-Mail: kkr_germany@fgsglobal.com

Emily Lagemann
Mobile: +49 (0) 160 99 27 13 35
E-Mail: kkr_germany@fgsglobal.com

Source: KKR

 

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AE Industrial Establishes Commercial HVAC Services Platform with National Scale through Investment in United Building Solutions

Ae Industrial Partners

Partnership with Total Comfort Solutions expands platform’s footprint into fast-growing Southeast market

BOCA RATON, Fla.–(BUSINESS WIRE)–AE Industrial Partners, LP (“AE Industrial”), a private equity firm specializing in National Security, Aerospace, and Industrial Services, today announced that it has partnered with United Building Solutions (“UBS”), a leading provider of heating, ventilation, and air conditioning (“HVAC”) services in the Northeast U.S., to create a comprehensive platform dedicated to complex HVAC services for commercial buildings. In addition, UBS has joined forces with Total Comfort Solutions, Inc. (“TCS”), one of North Florida’s top commercial HVAC service providers, expanding the platform’s capabilities and geographic reach. The senior leadership teams at both companies will remain in place. Financial terms of the private transactions were not disclosed.

“Commercial customers are increasingly seeking service partners who can deliver holistic solutions, including maintenance, controls, and retrofits for this mission-critical infrastructure. With the incorporation of TCS, we have taken the first steps in establishing UBS as a leading, multi-regional platform committed to addressing that demand,” said Bryan McElwee, Partner at AE Industrial. “We have a long and successful track record of investing and operating industrial services businesses, including previous investments in Altus Fire & Life Safety, BHI, Enercon, and Resolute Industrial. We look forward to leveraging our extensive experience, partnering with the outstanding team at UBS, and continuing to build out the platform.”

The U.S. HVAC market is poised for rapid growth over the next decade, driven by efforts to retrofit buildings with advanced technologies, leveraging tools such as AI and automation. With HVAC systems typically accounting for the largest share of a building’s power consumption, operators are also prioritizing upgrades aimed at enhancing energy efficiency.

“The investment from AE Industrial will provide us with the resources and support we need to strengthen our team and capitalize on the new growth opportunities in the commercial HVAC space,” said David Leathers, CEO of UBS. “In addition, by partnering with TCS, we are uniting with an organization whose skills and capabilities are highly complementary to our own and strategically expanding our footprint into the Southeast, which is one of the fastest growing HVAC markets in the country. In this next phase of our growth, UBS will seek additional partnerships with local market leaders in attractive geographies to bolster our aggressive organic growth strategy and develop UBS into a dominant HVAC service solutions provider.”

“Joining the UBS network will enable us to draw upon their extensive experience in executing complex projects, scale our operations, and position us for sustained growth,” added Tom Williams, President of TCS. “We will be able to provide our customers with new offerings while ensuring they continue to receive the industry-leading service they have come to expect.”

PwC served as financial advisor to AE Industrial and Kirkland & Ellis served as legal advisor. William Blair served as financial advisor to UBS and Loeb & Loeb served as legal advisor. The Palmeri Law Group served as legal advisor to TCS.

About AE Industrial Partners:
AE Industrial Partners is a private investment firm with $5.6 billion of assets under management focused on highly specialized markets including national security, aerospace and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

About United Building Solutions:
United Building Solutions is a leading provider of specialty mechanical solutions and building controls/analytics for critical HVAC and related systems. The company operates through three subsidiaries: Lor-Mar, A&B HVAC Services, and Unitemp MDI, which specialize in delivering solutions for optimizing building systems and operations, increasing energy efficiency, and improving business performance.

About Total Comfort Solutions:
Founded in 1999, Total Comfort Solutions, Inc. is a certified mechanical contractor providing specialized engineering and industrial services solutions for buildings in Northern Florida and Georgia. The company’s technicians work closely with industry-leading manufacturers and have an average of 22 years of experience in engineering, mechanical service, welding, and building automation applications.

Media Contact:
Stanton Public Relations & Marketing
Matt Conroy
mconroy@stantonprm.com
(646) 502-3563

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ITG expands globally with PureRed acquisition, bringing Halo content model to North America

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Bridgepoint

The acquisition of PureRed enables ITG to deliver their AI-enabled, agile content solutions and state-of-the-art Content Marketing Platform globally.

ITG are delighted to announce ITG’s strategic expansion into North America with the acquisition of US-based PureRed, an established provider of omnichannel content and technology for clients including Microsoft, Kroger, and Walgreens.

This expansion builds on ITG’s rapid growth over the last 12 months, which saw their Storyteq marketing technology recognised as a Leader in the Gartner® Magic Quadrant™ for Content Marketing Platforms 2024 and for Digital Asset Management 2025 – the only vendor to be named a Leader in both categories.

ITG also expanded its partnerships with some of the world’s most iconic global brands such as Samsung, Heineken, KFC, Jaguar Land Rover and Comcast. Now under the leadership of their global CEO Andrew Swinand, formerly of Publicis Groupe Creative US and Leo Burnett, they are set to drive major growth in 2025.

“ITG is well known in the UK and Europe for our agile, Halo content approach and AI-enabled Storyteq technology. Expanding our ability to deliver this content solution to more clients across the globe marks an exciting moment for ITG,” said Andrew Swinand, global CEO, ITG. “As a company, PureRed aligned perfectly with our vision for delivering scaled content solutions to leading brands, coupled with promoting a culture of kindness.”

The acquisition of PureRed adds over 500 skilled marketing professionals to ITG’s global team, which now exceeds 2,000 employees, and significantly strengthens our position in the US market.

“A sharp and consistent rise in both digital channels and retail media has seen the global market for Halo content explode in recent years,” Andrew notes. “Brands around the world now need tailored solutions that enable them to deliver personalised, high-quality content at scale – on budget and without compromising speed. Our AI-enabled, agile content model bridges this gap, and expanding our reach into the US with PureRed allows us to truly support our partners on a global scale.”

Brian Cohen, former CEO of PureRed and new US CEO of ITG, shared his excitement: “Over the years, we’ve built a strong portfolio of clients and a reputation for delivering exceptional omnichannel content and industry-changing technology solutions. Joining forces with ITG allows us to scale our impact and bring even greater value to our clients. ITG shares our passion for innovation, creativity, and operational excellence, making this partnership an incredible opportunity for everyone involved.”

“This is about much more than delivering higher volumes of content,” Andrew added. “It’s about unlocking the full potential of AI in marketing, leveraging both technology and creativity to craft the perfect story for every possible user interaction across any channel. With PureRed as part of the ITG family, we’re not just scaling our capabilities – we’re leading the transformation of our industry through a smarter, AI-enabled approach to content.”

ITG is part of Bridgepoint’s portfolio of companies and Emma Watford, Partner at Bridgepoint, said: “Expanding into the US is a significant milestone for ITG, and we are delighted to support the team as they bring their market-leading, AI-enabled content solutions to a global audience. PureRed’s strong capabilities and client relationships make them a perfect fit for ITG, and together, they are well-positioned to drive real innovation in the fast-evolving content marketing space. We look forward to seeing the impact of this partnership as ITG continues to set new standards for agile, data-driven content at scale.”

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Radiant makes acquisition of Seven Bridges

Apiary Capital

Radiant Financial Group, Apiary Capital’s rapidly expanding wealth management consolidator, has acquired Seven Bridges, an independent financial advisor (IFA) headquartered in Newcastle.

 

This strategic acquisition significantly extends Radiant’s presence across Northern England and marks the ninth bolt-on since Apiary’s investment in November 2020. Radiant has grown substantially, both organically and through acquisitions including CBK, the Swansea-based IFA acquired in August 2024. The group now has 143 team members operating out of ten offices across the UK, with assets under advice of £1.8 billion.

 

“We are thrilled to welcome Seven Bridges to the Radiant Financial Group,” said Simon Cogman-Hellier, CEO of Radiant. “Seven Bridges is a successful and well-established firm, and brings a wealth of expertise and talent to our group.”

 

Thomas Alldred, Investment Director at Apiary, added: “We are immensely proud of Radiant’s development and look forward to continuing to support its impressive growth.”

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Cottonwood Technology Fund invested in Keiron Printing Technologies

Cottonwood Technology Fund invested in Keiron Printing Technologies 

Cottonwood Technology Fund recently invested € 1.5 Million in Keiron Printing Technologies. The investment is an extension of the seed round by DeeptechXL and TNO. Founded in 2019 as a spin-off from TNO Holst Centre, where the project began in 2012, Keiron is backed by strategic partnerships with industry leaders such as ASML, TNO, Holst Centre, and VDL TPB Electronics.

Keiron is revolutionizing the Surface Mount Technology (SMT) industry with its groundbreaking Laser-Induced Forward Transfer (LIFT) technology. It delivers a fully digital, contactless printing solution that eliminates the limitations and compromises of traditional stencil and jet printing. By combining precision, efficiency, and flexibility, Keiron is setting a new standard for electronics manufacturing.

 

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AltamarCAM Partners announces Final Closing of ACP Secondaries 5 at close to €1.6 billion, surpassing initial target

altamar-logo
  • The fund closed above its €1.3 billion target despite a tough fundraising climate, reflecting strong investor confidence.
  • The collaboration between Permira and AltamarCAM Partners has been key to achieving this milestone, with Permira helping to broaden access to a high-quality LP base.

 

Madrid, 18 February 2025 – AltamarCAM Partners, a global asset management firm focused on private markets and AUM of over €20 billion, is pleased to announce the final closing of its fifth flagship secondaries program ACP Secondaries 5, at close to €1.6 billion, exceeding its original target size. The successful fundraise underscores strong investor confidence in AltamarCAM’s expertise and proven track record in the secondaries market.

ACP Secondaries 5, has attracted commitments from a diverse base of institutional investors (including pension funds, insurance companies, endowments, and foundations), family offices, and high-net-worth individuals across 16 countries in Europe, North America and Latin America.  More than 40% of the investors are new to the firm.

Over €1 billion (or about 60%) has already been deployed in 33 secondary transactions, in line with the fund´s objectives of optimal diversification across key metrics (including geographies, sectors, vintages, number and types of transactions, and underlying sponsors and portfolio companies).

The strong demand for the fund reflects the growing recognition of secondaries as a strategic and resilient investment opportunity in today’s evolving market environment.

The collaboration between Permira and AltamarCAM Partners has been key to achieving this milestone, broadening the firm´s access to a LPs world-wide.

Commenting on the final closing, José Luis Molina, Global CEO at AltamarCAM Partners, said: “We are grateful for the continued support of our long-term and new investor base. The successful fundraising of ACP Secondaries 5 reflects the confidence and trust placed by our investors, predicated on the attractiveness of AltamarCAM’s differentiated strategy, consistent performance over two decades, as well as our increasing scale and global reach.  Our team and platform are strongly positioned to capture the opportunities within this growing market.”

Investment strategy and market focus

ACP Secondaries 5 continues AltamarCAM’s established approach of targeting high-quality secondary opportunities globally, leveraging its extensive network and deep market insights to identify solid investments, mainly focused on the mid-market.

AltamarCAM Partners has been active in the secondaries markets for over 20 years. Since 2005, AltamarCAM Partners has invested close to €3 billion in secondaries transactions1 across a variety of strategies.

The firm is focused on generating alpha in the secondaries market, mainly within the GP-led segment, and taking a bottom-up approach to analysing each underlying asset. At the core of AltamarCAM’s investment philosophy is our focus on capital preservation while delivering strong risk-adjusted returns for our clients across cycles. As part of that philosophy, we seek to generate alpha with a reduced risk profile, without relying on additional leverage or financial engineering.

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KKR Acquires Stake in HRM Platform Employment Hero from SEEK Investments

KKR

Transaction marks KKR’s latest technology growth investment in Australia

SEEK Growth Fund continues to be a material investor in the company

SYDNEY–(BUSINESS WIRE)– KKR, a leading global investment firm, Employment Hero, a global leader in employment management solutions, and SEEK Investments, manager of the SEEK Growth Fund, a long-term investment fund focused on human capital management, today announced the signing of definitive agreements under which funds managed by KKR will acquire a stake in Employment Hero (“the Company”) from SEEK Investments. The SEEK Growth Fund continues to be a material investor in Employment Hero.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250217503570/en/

Founded in 2014, Employment Hero is a leading employment management platform that provides end-to-end human resources management, payroll, recruitment, and employee engagement tools covering every stage of the employee lifecycle. Over the past decade, the Company has grown its footprint to serve more than 300,000 small and medium-sized enterprises globally.

Mukul Chawla, Partner and Head of Asia Pacific Growth Equity, KKR, said, “Employment Hero marks our latest technology growth investment in Australia, a key market for our growth equity strategy, and aligns with our thematic focus on SMB (small and medium business) software. We look forward to supporting the continued platformisation and international expansion of Employment Hero, which has established itself as a leader in human resources management in multiple markets including Australia, the UK, and Canada with its cloud-native and comprehensive product suite.”

For Employment Hero, KKR’s investment builds on its strong growth momentum and follows its acquisition of leading Canadian employment platform Humi in January. In addition, the Company has surpassed A$250 million in annual recurring revenue (ARR).

Ben Thompson, CEO and Co-Founder at Employment Hero, said, “Employment Hero’s mission is to make employment easier and more valuable for everyone. Over 300,000 businesses globally are using our employment operating system, helping boost job creation for local economies and GDP globally. Our recent milestone of A$250 million in annual recurring revenue also signals the growing customer demand for our Jobs, Payroll, HR and Benefits products to drive better business outcomes. KKR’s significant experience, resources and network will be extremely valuable in our efforts, particularly as we look to further develop our international footprint. We welcome KKR as a strategic partner and look forward to our close collaboration with them over the long term.”

Commenting on the transaction, Andrew Bassat, Executive Chairman and CEO of SEEK Investments, said, “The SEEK Growth Fund has been a long-term investor and supporter of Employment Hero. We retain our high conviction towards Employment Hero’s strategy and outlook. We look forward to continuing our partnership with Ben and working with KKR to help Employment Hero realise its full potential.”

KKR makes its investment from its Asia Next Generation strategy. This marks KKR’s latest growth equity investment in Australia, following Advanced Navigation, a developer of AI robotics and navigation technology, and the latest investment from the strategy focused on technology enablement for businesses, including SmartHR, a cloud-based HR management software in Japan; GrowSari, a B2B e-commerce platform for SMEs in the Philippines; KiotViet, a SaaS platform for SMEs in Vietnam; and Privy, a digital trust provider in Indonesia.

The transaction is expected to be completed by the first quarter of calendar year 2025.

About Employment Hero

Employment Hero is the global authority on employment, offering a world-leading Employment Operating System (eOS) that simplifies and optimises every stage of the employment process. Its award-winning platform combines HR, payroll, recruitment, and employee engagement tools with the groundbreaking employment superapp, Employment Hero Jobs, which integrates career management and financial wellbeing. Serving over 300,000 businesses and managing more than 2 million employees worldwide, Employment Hero reduces administrative burdens by up to 80%, enabling organisations to focus on their goals and create more productive, engaged teams. By revolutionising the employment marketplace, Employment Hero is making employment easier, more valuable, and rewarding for everyone. For more information, visit employmenthero.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 SEEK Investments

SEEK Investments is the manager of the SEEK Growth Fund a long-term investor and business builder currently focused on Human Capital Management. The Fund includes a portfolio of high-growth HCM businesses in Ed-tech, HR SaaS and contingent labour. SEEK Investments builds upon its team’s 100+ years of experience in investing and operating high growth technology businesses. The Fund has assets under management of over A$2 billion.

Media Contacts
For more information, please contact:

For Employment Hero
Marina Holmes
0416 663 396
marina.holmes@employmenthero.com

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

For SEEK Investments
Ronnie Fink
0419 895 831
rfink@seekinvestments.com

Source: KKR

 

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Aquila Capital launches Energy Transition Fund I in collaboration with shareholder Commerzbank

Aquila Capital

Article 9 fund driving Europe’s decarbonisation through investments in energy storage, decentralised renewable energy systems and enabling infrastructure

— First investment secured in the form of a 56 MW/112 MWh grid-connected battery storage system in Germany

— Targeting a EUR 600 million fund size with 14–16% gross returns, including annual cash distributions of 6–7%

Hamburg, 17 February 2025 – Aquila Capital, an asset manager specialising in sustainable real asset investments, announces the launch of the Aquila Capital Energy Transition Fund I (“ETF I” or “Fund”). Backed by shareholder Commerzbank, the Fund marks its inception by committing EUR 50 million to a ready-to-build grid-connected battery energy storage system in Germany, with a power capacity of 56 MW and an energy capacity of 112 MWh, expected to become operational in 2026. Aquila Clean Energy EMEA, a company of Aquila Group, will support the project in the construction and operation phases with its extensive expertise in the battery segment. The Fund’s first investment reflects Aquila Capital’s commitment to unlocking value in the increasing demand for grid flexibility driven by Germany’s growing clean energy market.

ETF I, classified as an Article 9 fund under the Sustainable Finance Disclosure Regulation (SFDR), is designed to drive Europe’s stringent decarbonisation efforts by targeting valueadd infrastructure investments. In addition to grid-scale battery storage systems, the ETF I also invests in Behind-the-Meter solutions for decentralised renewable energy generation, such as home energy systems as well as Enabling Infrastructure, where, amongst others, charging networks for electric vehicles and industrial heating solutions are target sectors. Aimed at professional investors, ETF I targets a size of EUR 600 million and a gross return of 14–16% p.a., combining 6–7% annual cash distributions with long-term capital appreciation.1 The Fund has a closed-end structure and will typically hold its assets for between five and seven years.

With over EUR 500 billion in annual expected investment required to achieve Europe’s energy transition goals, ETF I contributes to bridging the gap by directing private capital into critical infrastructure projects. Aquila Capital’s proprietary pipeline, including 2.9 GW of battery storage projects, ensures access to high-quality investment opportunities. The Fund leverages Aquila Group’s extensive market expertise in clean energy investments and adjacent segments.

Christian Holste, Head of Client Advisory and Business Development at Aquila Capital, stated: “Aquila Capital’s ETF I offers professional investors an unparalleled opportunity through which they can achieve strong financial returns while actively contributing to Europe’s sustainable future. By focusing on value-add infrastructure, the Fund aims to fill a critical gap in the market and combine economic benefits with a measurable climate impact.”

Markus Wandt, Chief Investment Officer Aquila Capital: “At Aquila Capital, we are leading the way in tapping into value-add infrastructure on the back of our strong track record in utility scale clean energy generation. ETF I is a logical next step in our product offering to professional investors looking for higher returns than in infra-core and core-plus strategies. This first investment supported by Commerzbank confirms our investment and capital raising ambitions. Our experienced investment team members not only know this asset class in and out but also have preferred access to a deal flow in the various regional markets they serve.”

1 The target gross returns and annual cash distributions (forecast) set forth herein is for illustrative and informational purposes only. It is not guaranteed that the target gross returns and annual cash distributions will be achieved.

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Cotiviti Announces Agreement to Acquire Edifecs

Franciso Partners

Combined company to enhance interoperability, connectivity and outcomes across the healthcare system

Cotiviti, a leader in data-driven healthcare solutions, has entered into an agreement to acquire Edifecs, a pioneer in healthcare data interoperability. The combined platform will enhance connectivity between payers and providers, enable increased collaboration in the delivery of care, and accelerate deployment of value-added solutions in the healthcare system.

Operating under the Cotiviti brand, clients of the combined organization can accelerate key business objectives while achieving meaningful improvements in efficiency and quality of care. Emad Rizk, M.D., Chairman, President, and CEO of Cotiviti will lead the combined company in the same capacity.

“Cotiviti and Edifecs share a common goal of fostering a high-quality and viable healthcare system,” said Dr. Rizk. “This acquisition will provide enhanced value to our clients by combining our talented teams and advanced technology to increase focus on interoperability, enable value-based care, and streamline health plan operations, all to better both patient outcomes and the sustainability of healthcare.”

“Edifecs’ interoperable cloud solutions support connectivity and collaboration across payers and providers to unlock value and enable more effective member care,” said Venkat Kavarthapu, Chief Executive Officer of Edifecs. “Efficient data and information access and exchange is essential to improving transparency and reducing administrative waste. We look forward to accelerating our ability to enhance our solutions by coming together with Cotiviti’s high-performing solutions.”

“Last year, Veritas Capital and KKR became co-sponsors and completed a recapitalization of Cotiviti. Since then, Cotiviti has made significant investments and advancements in their solutions, improving both efficiency and quality of care,” said Hunter Craig, Managing Director at KKR. “We are committed to supporting this growth and believe this transaction will help Cotiviti continue to drive positive change across the healthcare value chain.”

“Veritas is extremely pleased to support Cotiviti in its acquisition of Edifecs,” said Ramzi Musallam, CEO and Managing Partner of Veritas. “This strategic move underscores our commitment to Cotiviti and driving innovation in the healthcare sector. By leveraging both Cotiviti and Edifecs’ innovative technology and comprehensive solutions, they are poised to deliver new benchmarks in healthcare efficiency and quality.”

“TA has been proud to partner with Edifecs since 2020, delivering meaningful growth in support of its mission to improve healthcare interoperability,” said Ashu Agrawal, Managing Director at TA. “Cotiviti and Edifecs share a commitment to driving positive change in the healthcare sector, and bring together the leadership and complementary solutions needed to accelerate innovation, enhance efficiency, and improve outcomes for all stakeholders. We look forward to seeing Edifecs’ next chapter of innovation as part of Cotiviti.”

“We are pleased to have supported Edifecs’ growth since our initial investment in 2020. Partnering with founder-led businesses to help them realize their vision is what we love to do, and this is a great example of that,” said Ezra Perlman, Co-President of Francisco Partners. “Working with our co-investors at TA has been outstanding. We commend Edifecs’ talented management team for being excellent stewards of our capital, helping to expand the product portfolio, grow the Edifecs business in a remarkable way, and generate a strong return for our limited partners.”

The transaction is subject to customary regulatory approvals prior to closing. Goldman Sachs & Co. LLC and TripleTree served as financial advisors and Gibson Dunn provided legal counsel to Cotiviti. J.P. Morgan Securities LLC and William Blair & Company, LLC served as financial advisors and Kirkland & Ellis LLP provided legal counsel to Edifecs.

About Cotiviti:

Cotiviti enables healthcare organizations to deliver better care at lower cost through advanced technology and data analytics, helping to ensure the quality and sustainability of how healthcare is delivered in the United States. Cotiviti’s solutions are a critical foundation for healthcare payers in their mission to lower healthcare costs and improve quality through higher performing payment accuracy, quality improvement, risk adjustment, and consumer engagement programs. The company also supports the retail industry with data management and recovery audit services that improve business outcomes. For more information, visit www.cotiviti.com.

About Edifecs:

Edifecs provides market-leading technology to its payer and health system customers, which serve nearly 300 million people in the U.S. healthcare market. For over 25 years, Edifecs has enabled customers to unlock greater value with their healthcare operations solutions and data management platform, which includes its market leading healthcare interoperability cloud solution. Edifecs healthcare SaaS solutions, available on both public, private, and hybrid clouds, serve as the foundation that eliminates stakeholder friction to overcome healthcare’s biggest challenges, including accelerating value-based care adoption and obtaining more complete and accurate care funding. For more information, visit www.edifecs.com.

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