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Antares Capital Announces Final Close of Inaugural Senior Loan Fund

Antares

CHICAGO–(BUSINESS WIRE)–Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”).

“The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand”

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The fund, which launched in December 2019, closed on September 14th with approximately $3 billion of asset purchasing power, exceeding its initial target of $1.5 billion. Capital was raised across a diversified set of institutional investors.

The investment objective of the SLF is to build a diverse portfolio of sponsor-backed senior secured loans to U.S. and Canadian borrowers. Investors in the fund are primarily public and private pensions, insurance companies, asset managers and banks located predominantly in the U.S., Canada, Asia and the Middle East.

“The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand,” said Vivek Mathew, senior managing director and head of asset management. “Investors appreciate that Antares’ market position allows us to be highly selective in the opportunities in which we invest. Also, Antares has implemented a variety of measures to demonstrate alignment of interests with our investors, and ultimately when markets turn, we have a track record of strong performance through market cycles.”

“COVID-19 has been a stress test for our asset class, and while the story is not fully written yet, it appears that middle market private debt will perform well,” said David Brackett, CEO of Antares. “As a result, we anticipate further growth in our asset management platform. As a firm we recently recognized the five-year anniversary of our partnership with CPPIB Credit Investments Inc. During this time we are proud to have continued to build upon our industry-leading platform targeting private equity-owned middle market companies.”

Antares Capital Advisers LLC is the registered investment adviser arm of Antares. Antares has leveraged its credit expertise and investor relationships through Antares Capital Advisers LLC to build a platform that complements its broader origination capabilities.

About Antares

With approximately $27 billion of capital under management and administration as of December 31, 2019, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2019, Antares issued approximately $17 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares’ world-class capital markets experts hold relationships with more than 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital LP is a subsidiary of Antares Holdings LP.

Contacts

Antares Capital
Carol Ann Wharton
475-266-8053
carolann.wharton@antares.com

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Building Back Better – DIF Capital Partners achieves A+ UNPRI scores

DIF

2020 has been an extraordinary year for all of us. The Covid-19 pandemic has called into question some of the foundations of modern societies, from global supply chains to national health services. But most of all, 2020 has put a spotlight on resilience: the resilience of individuals, of communities, of businesses, of the climate and, in particular of the infrastructure investments of DIF Capital Partners (“DIF”).

Today, DIF is publishing its 2020 ESG Report – Building Back Better. With the publication of the report, DIF shows it has an action-oriented and transparent approach designed to positively engage with all our stakeholders ensuring the resilience of the assets in which it invests and promoting improvement in ESG performance over time.

Furthermore, DIF is pleased to announce that it achieved A+ UNPRI scores for 2020, for both the infrastructure and the strategy & governance modules. This is the result of an integrated approach to ESG across all of DIF’s activities. ESG remains a key strategic priority for DIF, and the awarded UNPRI scores confirm it is fully embedded in DIF’s investment principles, strategy, policies and processes.

DIF welcomes your feedback and is looking forward to continuing this important discussion with its stakeholders – collectively targeting to improve ESG performance and to take to mitigate climate change across the industry.

Please click on the following link to access the full report: DIF Capital Partners – ESG Report 2020.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in projects with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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CapMan holds initial MEUR 313 closing for its third Nordic value-add real estate fund

On track to become the largest fund in the company’s history

CapMan Real Estate press release 28 September 2020 at 11:15 am EEST

CapMan holds initial MEUR 313 closing for its third Nordic value-add real estate fund

On track to become the largest fund in the company’s history

CapMan Real Estate has established CapMan Nordic Real Estate III fund (“CMNRE III”, “Fund”) with MEUR 313 of equity commitments from Nordic, European, and North American institutional investors. CMNRE III succeeds CapMan’s two earlier Nordic value-add funds raised in 2013 and 2017. Due to strong investor demand, CapMan believes that the Fund will achieve its target size of MEUR 500 before the year end, which would make it the largest fund in CapMan’s operating history to date. With leverage, the gross investment capacity of the Fund exceeds EUR 1.2 billion.

“The quick fundraising process clearly shows the strong interest from our investors towards our proven value-add strategy and also demonstrates their trust in our strong local team operating in Helsinki, Stockholm, Copenhagen and Oslo. The fund’s investor base is distinctly international, with approx. 70% of commitments so far coming from outside the Nordic countries. We are grateful for the continued co-operation with the investors who have now worked with us in multiple funds and are excited to have new investors on board. We look forward to establishing long-term relationships with them all,” says Mika Matikainen, Managing Partner of CapMan Real Estate.

In line with its predecessor funds, CMNRE III invests mainly in transitional offices and select residential strategies in capital cities as well as in other major growth centres in Sweden, Finland, Denmark and Norway. The fund may also invest selectively in other property sectors supported by prevailing megatrends.

“The Covid 19 pandemic and related uncertainty has sparked a debate regarding the demand for office space as many industries and work practices are in transformation. In our experience, the demand for modern and flexible office space has remained high especially in central locations where tenants value high quality and versatile solutions. Simultaneously, there is demand for the refurbishment and transformation of older attractively located office stock to comply with requirements for other types of use, e.g. schools and public services, which is also a focus area for our fund,” Matikainen continues.

“Our Real Estate portfolio has continued performing well and the team has completed several successful transactions during the current year despite a challenging market. The fund being raised now is set to become the largest in CapMan’s history. I am confident that our third pan-Nordic value-add real estate fund will build on the successful track record of the team,” comments Joakim Frimodig, CapMan’s CEO.

CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of EUR 2.8 billion in real estate assets.

For additional information, please contact:
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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Patricia Industries acquires Advanced Instruments, the global market leader in analytical osmolality

Investor

2020-09-28 13:58 GMT+02

Patricia Industries, a part of Investor AB, has signed an agreement with Windjammer Capital to acquire US company Advanced Instruments, the leading global provider of osmolality testing instrumentation and consumables for the clinical, biopharmaceutical, and food & beverage markets.

Advanced Instruments manufactures a broad portfolio of innovative osmolality testing products used in over 90 countries. The company’s rapidly growing biopharmaceutical product range is used in the research laboratories and manufacturing facilities in all top 10 global biopharmaceutical companies. The products are also used by numerous emerging cell and gene therapy companies to optimize and monitor formulation and production of complex biologics products. Advanced Instruments’ clinical products are used by leading academic and community hospitals across the world for diagnosing a variety of medical conditions. The food & beverage products are used by many leading global producers and has a particular focus on ensuring product quality in the dairy market.

Since its formation in 1955, Advanced Instruments has entrenched osmolality as a critical and high-value test enabling the measurement of the number of dissolved particles in a fluid to diagnose medical conditions and assess product quality in a variety of settings. The company has built a strong brand reputation and deep customer relationships, it is recognized as the global authority on osmolality testing, and its products are the standard within each of its core markets. Clinical is the largest segment, followed by biopharma, then food & beverage. Geographically, North America is the single largest market.

“Advanced Instruments fulfils many of the criteria we seek in new investments. It is the clear global leader in a highly attractive market segment with durable long-term growth prospects. The company’s products are critical for its customers yet represent a fraction of their overall costs. Advanced Instruments has a compelling financial profile with high growth and profitability, strong cash flow generation, and a large share of recurring revenue. We believe that Advanced Instruments is a great addition to Patricia Industries”, comments Investor AB President and CEO Johan Forssell.

The enterprise value amounts to USD 780m. For the 12-month period ending June 30, 2020, sales amounted to USD 72 m and the adjusted EBITDA margin was approximately 45 percent. While covid-19 impacted both sales and profitability during the second quarter, the company has showed good resilience. Over the past 15 years, organic sales growth has averaged approximately 10 percent, with strong profitability and cash conversion.

“Advanced Instruments has a market-leading technology and a track record of successful innovation. The company has a resilient business model, strong long-term organic growth potential and multiple ways to expand through acquisitions in both existing and new markets. We look forward to working with the management team and our strong industrial network to further develop the business”, says Noah Walley, Co-Head Patricia Industries.

“I am excited for Advanced Instruments to become part of the Patricia Industries and Investor AB family. We share a values-oriented culture and passion for innovation, and I firmly believe that their long-term investment approach, healthcare industry expertise, and engaged ownership model will be invaluable to Advanced Instruments in our next phase of growth”, says Byron Selman, CEO of Advanced Instruments.

Patricia Industries plans to inject approximately USD 620m in equity for majority ownership of the company. The remainder of the acquisition will be financed by external debt and equity participation by Advanced Instruments’ management, board and other key individuals.

Upon closing, Advanced Instruments becomes Patricia Industries’ fourth North American subsidiary, in addition to BraunAbility, Laborie, and Sarnova.

The acquisition is subject to approval by the relevant competition authorities. Closing is expected during the fourth quarter 2020.

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

About Advanced Instruments
Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food & beverage industries. Since 1955, the company’s innovations have helped organizations improve quality of results, achieve reliable outcomes, and increase workplace productivity. Advanced Instruments has a diverse portfolio of products, including freezing-point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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CVC Credit Partners prices second European CLO of 2020

Cordatus XVIII will increase CVC Credit Partners European CLOs issuance in 2020 to more than €650 million

CVC Credit Partners (“CVC Credit”) is pleased to announce the pricing of Cordatus XVIII, a collateralised loan obligation (“CLO”) fund totalling €382.5 million arranged by Deutsche Bank. As with previous Cordatus CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

This will be the second CLO fund CVC Credit has raised in Europe in 2020 following the closing of Cordatus XVII in June on €290 million. European CLO assets under management have now reached a new milestone at c.$7.0 billion.

Guillaume Tarneaud, Senior Managing Director and Portfolio Manager at CVC Credit Partners, said: “As with most of the broader economy, 2020 has been a challenging year for CLO markets, but we have knuckled down and thanks to strong investor demand we have been able price our second European CLO this year.”

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, said: “We are delighted to have priced our second European CLO this year and the third globally. This was again a great team effort across our CLO business, leveraging the joint expertise of both our London and New York offices to get this fund to market.”

Closing is expected in November 2020 and is subject to customary closing conditions.

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Chr. Hansen to sell its Natural Colors business to EQT

eqt

  • Chr. Hansen to sell its Natural Colors business, the leading global developer and manufacturer of natural coloring ingredients for food and beverages, to EQT IX
  • Natural Colors’ underlying market is supported by favorable secular megatrends, such as increasing consumer awareness around health and the environment, the ongoing transition from synthetic coloring components to natural ingredients, and a growing demand for sustainable and plant-based food
  • EQT plans to invest significantly in Natural Colors’ organization and strengthen its digital infrastructure, sustainability capabilities and supply chain setup. EQT will support organic growth in Natural Colors’ existing markets and acquisitive expansion in the highly fragmented food coloring market
  • Natural Colors is expected to leverage on EQT’s inhouse expertise within digitalization and sustainability, and EQT’s global advisory network, which possesses significant experience from developing strong ingredient companies

Chr. Hansen Holding A/S (“Chr. Hansen”) and the EQT IX fund today announced that EQT has agreed to acquire the Natural Colors Division (“Natural Colors” or “the Company”), a subsidiary of Chr. Hansen, the global bioscience leader and developer of natural solutions for the food, nutritional, pharmaceutical and agricultural industries. The purchase price amounts to EUR 800 million.

Headquartered in Hørsholm, Denmark, Natural Colors is the leading developer and manufacturer of natural coloring ingredients, serving over 1,600 customers in the food and beverages (F&B) industry. The Company is the global leader in the natural colorants industry in terms of innovation, application, formulation, product portfolio breadth and geographical reach. The Natural Colors Division employs approximately 650 people and has grown organically by around 9 percent per annum during the past five years up to 2018/19. The Company generated sales of EUR 224 million in 2018/19.

Natural Colors’ products are made from all-natural fruit and vegetable concentrates from sweet potatoes, grape skin, spirulina, carrots and beetroots. The products are primarily used within F&B applications where the conversion from artificial to natural colorants is highest, such as dairy- and fruit preparations, confectionary, ice cream, prepared foods and beverages.

Natural Colors’ underlying market is supported by favorable secular megatrends, such as increasing consumer awareness around health and the environment, the ongoing transition from synthetic components to natural ingredients, and a growing demand for sustainable and plant-based food. The Company’s solutions contribute to society and support several of the United Nations Sustainable Development Goals, including SDG 12 (Responsible Consumption and Production): via R&D into higher crop yields, use of renewable resources such as grape skin. SDG 13 (Climate Action): via a ‘Go Green’ project to make energy and CO2 improvements, using science-based targets.

EQT intends to build on the existing strategy of continued organic growth in current markets with a focus on the US and Asia. EQT will also support acquisitive expansion within the highly fragmented foods coloring market by utilizing the Natural Colors platform for industry consolidation. Moreover, EQT plans to invest significantly in the Company’s organization and strengthen its digital infrastructure, sustainability capabilities and supply chain setup. Natural Colors is expected to leverage on EQT’s inhouse expertise within digitalization and sustainability, and EQT’s global advisory network, which possesses significant experience from developing strong ingredient companies.

Mauricio Graber, CEO of Chr. Hansen, commented: “The divestment of the Natural Colors Division completes the Review part of our recently launched 2025 Strategy. Chr. Hansen can now focus on fulfilling the ambition of becoming a pure-play, microbial and fermentation company with industry leading, profitable growth. I am convinced EQT will be a great owner of the Natural Colors business which has a leading global position in the industry. During the process it has become clear that EQT showed the strongest conviction in the potential of the business, and the highest dedication to the future development of it. I want to thank all the employees of the Natural Colors business for their contribution to Chr. Hansen over many years and wish them all the best in the future journey as an independent company.”

Mads Ditlevsen, Partner at EQT Partners, and Investment Advisor to EQT IX, commented: “We are immensely proud and humble of having been chosen as the future owner of Natural Colors. It is a high-quality and truly global business with a proud legacy of servicing customers all over the world for more than 100 years. We are highly impressed by the strong ESG profile, the high-quality organization and talented people we have met during this process, as well as the dedicated focus on food safety. Natural Colors fits very well with EQT’s thematic investment criteria and is operating in two of EQT IX’s five prioritized sub-sectors within Industrial Technology. EQT’s ambition is to help the business achieve further growth both organically and through acquisitions.”

Klaus Bjerrum, Executive Vice President of Natural Colors Division, said: “I am very pleased to announce EQT as the new owner of Chr. Hansen’s Natural Colors Division. EQT has acquired our great business (pending closing) to grow it organically and inorganically based on our capabilities and organization, and not least our leading market position. It is my conviction that this marks a new and exciting chapter for us, and I am excited to embark on this journey with EQT and all our talented employees around the world.”

The transaction is subject to customary conditions and regulatory approvals. It is expected to close in H1 2021.

Goldman Sachs acted as exclusive financial advisor, Gorrissen Federspiel as legal advisor, Baker McKenzie as legal advisor and Deloitte as M&A transaction services, tax and carve-out advisor to Chr. Hansen. J.P. Morgan and Nordea acted as financial advisors, Accura as legal advisor, PWC as M&A transaction services, tax and carve-out advisor and Boston Consulting Group as commercial advisor to EQT.

With this transaction, EQT IX is expected to be 15-20 percent invested, based on its target fund size.

Contact
Camilla Lercke, Head of Media Relations, Chr. Hansen, +45 5339 2384
EQT Press Office, press@eqtpartners.com

About Chr. Hansen
Chr. Hansen is a leading, global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. We develop and produce cultures, enzymes, probiotics and natural colors for a rich variety of foods, confectionery, beverages, dietary supplements and even animal feed and plant protection. Our product innovation is based on around 40,000 microbial strains – we like to refer to them as ‘good bacteria’. Our solutions enable food manufacturers to produce more with less – while also reducing the use of chemicals and other synthetic additives – which make our products highly relevant in today’s world. Sustainability is an integral part of Chr. Hansen’s vision to improve food and health. In 2019 Chr. Hansen was ranked as the world’s most sustainable company by Corporate Knights thanks to our strong sustainability efforts and our many collaborative partnerships with our customers. We have been delivering value to our partners – and, ultimately, end consumers worldwide – for over 140 years. We are proud that more than one billion people consume products containing our natural ingredients every day.

More info: www.chr-hansen.com/en

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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Orion Advisor Solutions and Brinker Capital Complete Merger, Leapfrogging Competitors With 10,000-plus Active Advisors on Combined TAMP

TA associates

Support from financial partners Genstar and TA Associates fuels the creation of a fully integrated, tech-enabled advisor-client journey

OMAHA, Neb. & BERWYN, Pa.–(BUSINESS WIRE)–Today, Orion Advisor Solutions (Orion) and Brinker Capital announce the closing of their merger, unifying the industry’s foremost technology provider for fiduciary advisors with the largest privately held turnkey asset management platform (TAMP).

What’s next for Orion and @BrinkerCapital? You won’t have to wait long to see how our combined strengths help advisors drive growth through client satisfaction

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Orion, architect of the tech-enabled fiduciary process that empowers the advisor-client journey by enabling advisors to Prospect, Plan, Invest, and Achieve within a single, connected experience; and Brinker Capital, a highly respected investment management company serving the needs of advisors at insurance and independent broker-dealers; now form an industry-leading organization based on both companies’ long-standing reputations of innovation and industry disruption.

The union of Orion and Brinker Capital, first announced in June, will massively extend the scale and capabilities of the combined firm. The newly unified TAMP will grow to $44 billion in assets, providing more than 10,000 active investment advisor representatives with access to investment strategies from seasoned, in-house portfolio managers, as well as vetted third party strategist partners. With Orion’s technology currently supporting 2,100 firms representing $1.3 trillion in assets under administration, the number of accounts serviced by the newly combined firm will exceed 3.9 million across tech and TAMP.

Orion’s Eric Clarke will lead as CEO of the combined business while Noreen D. Beaman will become the president of Brinker Capital Investments, fusing Brinker Capital’s in-house investment management resources with those of CLS Investments. Chuck Widger, executive chairman and founder of Brinker Capital, will remain an investor and strategic advisor for the combined business.

“With the merger of Orion and Brinker Capital, we are able to capture the momentum created by the increasing connectivity of technology and fiduciary advice, and channel it into the pursuit of a transformative advisor-client journey,” said Clarke and Beaman in a joint statement. “As our companies continue to grow together, our complementary strengths will drive the entire fiduciary process with planning tools, guided or open-architecture investment solutions, and behavioral insights; powering organic advisor growth through client satisfaction.”

Cultural compatibility and the alignment of vision between Orion and Brinker Capital have allowed the companies to complete their merger with speed and ease rarely seen in the financial services industry. Advisors will begin to see the results of this collaboration within weeks, not months. Starting in October, Brinker Capital’s series of dynamic multi-asset risk-based portfolios will be made available through Orion Portfolio Solutions, Orion’s open architecture investment management platform, and through the Orion Communities model marketplace.

Brinker Capital’s Wealth Advisory high-net-worth offering will be made available to Orion advisors in early 2021. Around the same time, Brinker Capital’s clients will gain access to Orion’s technology, helping them foster stronger advisor-client relationships with integrated tools like Market*r, Orion’s automated prospecting and marketing campaign builder; Orion Planning, which guides the creation of engaging and immediately actionable financial plans; and new proposal generation technology that ties investment proposals directly to investors’ specific needs and incorporates behavioral investing tendencies to keep advisors apprised of potential investor reactions to market events.

“The culmination of the deal between Orion and Brinker Capital speaks to the strength and longevity of both companies,” said Tony Salewski, managing director of Genstar Capital, a San Francisco-based private equity firm that has invested in the combined business alongside TA Associates, Orion’s existing private equity partner.

“It has been gratifying to play a part in the closing of this merger,” Salewski said. “It takes resilience and adaptability for financial services firms to thrive against the headwinds of a global pandemic and market uncertainty. Orion and Brinker Capital stand out in terms of their aligned vision, and have wasted no time magnifying their shared strengths. We look forward to seeing their next steps together as a unified force in the marketplace.”

Roy Burns, managing director of TA Associates and a member of Orion’s board of directors, said the merger will continue to propel Orion beyond its roots as a provider of portfolio management technology for RIAs. “Orion has a strong history of strategic growth through powerful partnerships. Combining their legacy of agility and forward-thinking innovation with Brinker Capital’s deep investment management capabilities creates a company in a category of its own. We are thrilled to be part of what we believe will be an unstoppable trajectory to much greater success.”

To learn more about the new capabilities and resources available to advisor clients of Orion and Brinker Capital, visit our website.

About Orion Advisor Solutions

Orion Advisor Solutions is the premier provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to Prospect, Plan, Invest, and Achieve within a single, connected, technology-driven experience. Combined, our brand entities, Orion Advisor Tech, Orion Portfolio Solutions, and CLS Investments, create a complete yet modular offering that empowers firms to seamlessly attract new clients; connect goals more meaningfully to investment strategies and outcomes; and ultimately track progress toward each investor’s unique definition of financial success. As a result, Orion supports more than 2,100 advisory firms with $1.3 trillion in assets under administration and an additional $44 billion of combined assets (Orion Portfolio Solutions and Brinker Capital) on the open architecture TAMP, making Orion the platform of choice for all growth-focused advisory firms looking to strengthen their client relationships, gain a competitive edge in a crowded marketplace, and build strong, profitable businesses. Learn more at www.orion.com.

About Brinker Capital

Brinker Capital is an investment management company with $26 billion in assets under management (as of August 19, 2020). For over 30 years, Brinker Capital’s purpose has been to deliver an institutional multi-asset class investment experience to individual clients. Brinker Capital’s highly strategic, disciplined approach has provided investors the potential to achieve their long-term goals while controlling risk. With a focus on wealth creation and management, Brinker Capital serves financial advisors and their clients by providing high-quality investment manager due diligence, asset allocation, portfolio construction, and client communication services. Brinker Capital Investments, LLC, is a registered investment advisor.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $19 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial, and software industries. Genstar’s current and former portfolio companies in the investment management sector include Apex Group, AssetMark, Artivest, Ascensus, Cetera Financial Group, ISS and Mercer Advisors.

About TA Associates

TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high-quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 90 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

Contacts

Company Contact:
KELLY WALTRICH
Chief Marketing Officer, Orion
402.896.7406
kelly@orion.com

Media Contacts:
JIMMY MOOCK
Gregory FCA for Orion
610.348.7849
jimmy@gregoryfca.com
orion@gregoryfca.com

MICHELE STEINMETZ
Director, Public Relations and Social Media, Brinker Capital
215.817.5610
msteinmetz@brinkercapital.com

CHRIS TOFALLI
Chris Tofalli Public Relations, LLC for Genstar Capital
914.834.4334
chris@tofallipr.com

MARCIA O’CARROLL
Director of Marketing, TA Associates
617.852.1345
mocarroll@ta.com

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Centerbridge to Acquire AHEAD from Court Square, Setting the Stage for Next Phase of Innovation and Growth

Court Square

Investment will enable the enterprise cloud leader to expand its digital solutions portfolio and geographic reach

CHICAGO–(BUSINESS WIRE)–AHEAD, a leading provider of enterprise cloud solutions, today announced a definitive agreement for funds advised by Centerbridge Partners, L.P., a leading private investment firm, to acquire a majority stake in the company. In addition, funds managed by Berkshire Partners LLC will purchase a minority stake in AHEAD, while the AHEAD management team will continue to own a significant position in the business.

With support from Centerbridge, a deeply experienced investor in enterprise services, software and hardware businesses, AHEAD is well-positioned to accelerate its market leadership in enterprise cloud infrastructure and grow its offerings, including through the expansion of its services and partnerships, in the vital areas of intelligent operations and cloud-native application development.

Over the last five years, as a portfolio company of Court Square Capital Partners, AHEAD grew revenues from $365 million to more than $1.3 billion in 2020, in the process acquiring four firms. During this same period, AHEAD’s professional services business grew from $18 million to more than $100 million—an average annual growth rate of 41 percent—as the company expanded its services capabilities in the areas of cloud, enterprise service management and enterprise monitoring and analytics.

“We’ve enjoyed our partnership with Court Square and are thankful for their early support of the AHEAD journey. The Centerbridge investment will help us continue to innovate and enhance our offerings in an effort to help clients transform and create more agile and efficient applications, operations and platforms,” said Daniel Adamany, CEO of AHEAD. “This is a pivotal moment in our history, and we can’t wait to get to work with our new partners.”

“With its sophisticated enterprise software and hardware solutions, as well as its growing professional services business, AHEAD attracts a large and loyal customer base with a highly compelling growth trajectory,” said Jared Hendricks, senior managing director at Centerbridge.

“A client-focused culture is the foundation for the company’s product and service offerings, driving customer satisfaction and growth,” added Chris Litchford, managing director at Centerbridge. “We look forward to partnering with AHEAD on its next phase of innovation and growth.”

“We are grateful to have partnered alongside the AHEAD management team. The company has grown tremendously during our investment hold and we’re excited for the opportunity going forward for AHEAD and their new partners,” said Jeff Vogel, partner at Court Square.

Guggenheim Securities, LLC served as exclusive financial advisor to AHEAD and Court Square on the transaction. Dechert LLP served as legal counsel to AHEAD and Court Square. Jefferies LLC, RBC Capital Markets and Deutsche Bank served as exclusive financial advisors to Centerbridge. RBC Capital Markets, Deutsche Bank, Barclays, KKR Capital Markets and Macquarie Capital are providing financing for the deal. Kirkland & Ellis LLP served as legal counsel to Centerbridge Partners. Ropes & Gray LLP served as legal counsel to Berkshire Partners.

About AHEAD

AHEAD builds platforms for digital business. By weaving together advances in enterprise cloud infrastructure, intelligent operations, and modern applications, we help enterprises deliver on the promise of digital transformation. Learn more at www.thinkahead.com.

About Centerbridge Partners

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for our investors and business partners. The Firm was founded in 2005 and as of June 30, 2020 has approximately $26 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives. For more information, please visit www.centerbridge.com.

About Berkshire Partners

Berkshire Partners, a Boston-based investment firm, has made more than 130 private equity investments since its founding over 30 years ago. Berkshire has developed industry experience in several areas including business services & technology, communications, consumer, healthcare, and industrials. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests. For additional information, visit www.berkshirepartners.com.

About Court Square Capital Partners

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 230 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y.

Source: Business Wire

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C5 Further Invests in Ionir to Usher in New Era of Data Democratization

C5 Capital

Today, we announce C5 Capital’s investment in Ionir. The Ionir container native storage and data management platform for Kubernetes and clouds, enables customers to instantly transport data volumes at scale between clouds. We were delighted to participate in the $11 million round led by Jerusalem Venture Partners.

Our new commitment follows C5’s initial investment in 2017, and underlines our confidence in the Ionir leadership team to realise a revolutionary new capability in data mobility. Ionir has created a formidable business, and their technology is fundamental to enabling multi-datacenter, hybrid cloud, and multi-cloud strategies.

At C5 Capital, we seek to invest in companies that not only show tremendous growth and promise, but are fulfilling a core need in the market. In addition to our investment we provide these companies with access to our global network of expertise, helping to power their international growth.

Ionir is ideally placed to support its customers in these challenging times where the pandemic has uprooted millions of companies and organisations of all sizes from the confines of their physical office space to conducting operations virtually.  The shift to enable working from home has brought a new set of data management hurdles, and added complexity to storing information across multiple environments. We have witnessed accelerated digital transformation and cloud adoption yet unseen, as companies rushed to ensure business continuity in the digital world. Businesses have migrated to multi cloud architectures to support remote workloads at scale.

Ionir is helping international companies and organizations move applications and data between clouds efficiently and speedily. Through its new platform capability Data Teleport, it is leading a new era of data democratization and redefining IT workflows.

This platform delivers the industry’s first instant mobility capability for persistent volumes, that allows stateful applications to be copied or moved instantly between Kubernetes clusters in under 40 seconds, independent of the size of the volume or the amount of data involved. Based on the unique and proven technology developed by Reduxio, Ionir’s platform eliminates the complexity of storage and data management for Kubernetes-based clouds by allowing customers to build a seamless data layer and a common set of data management workflows independent of the underlying cloud or infrastructure.

Ionir’s unique proposition and proprietary technology enables it to meet the needs of its rapidly growing customer base and positions it for continued strong expansion and growth. We are excited to be part of that journey, sharing the Ionir team’s vision and passion to transform its markets.

André Pienaar, Founder and Managing Director of C5 Capital has joined the Board of Directors at Ionir to support their next phase of growth. André said, “As a specialist investor in the cutting-edge cloud and data management solutions powering our digital future, we are thrilled to support Ionir in transforming this market. Data mobility between clouds has historically required advanced planning and significant amount of time, making it difficult for customers to move applications and data to maximise effectiveness of their IT, or to provide resilience in the case of an outage. Ionir is bringing a paradigm shift by eliminating data gravity and time from the equation. The company’s innovative Data Teleport instant data mobility capability is redefining IT workflows in both hybrid cloud and multi-cloud deployments.”

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ICG establishes Milan Office

15 September 2020

Intermediate Capital Group (ICG) is pleased to announce that it has opened an office in Milan, headed by Luigi Bartone, Head of ICG Italy; he will be joined by Giulio Piccinini, Managing Director, previously based in London.

Luigi Bartone joined ICG in 2004 from AT Kearney and holds an MBA from INSEAD. ICG has invested regularly in the region ever since.

Giulio Piccinini joined ICG in 2017 from Vision Capital. Prior to his private equity investment career, Giulio worked in the investment banking division of Bank of America Merrill Lynch and as a management consultant at Bain & Co. Giulio holds an MBA from New York University.

Commenting on ICG’s move to establish an office in Milan, Luigi Bartone, Managing Director, Head of Italy, said, “Italy is a significant market for ICG and the opening of a permanent office strengthens our presence and commitment to the country. There is plenty of activity in Italy and with an office in Milan we will capture even more opportunities across asset classes; we will be closer to our portfolio companies, and to entrepreneurs and management teams willing to partner with ICG to accelerate their companies’ growth”.

For further information please contact:

ICG
Alicia Wyllie
Co-Head of Corporate Communications
Tel: +44 (0)203 201 7994
Mobile: +44 (0)7808 610080
Email: alicia.wyllie@icgam.com

Helen Gustard
Co-Head of Corporate Communications
Tel: +44 (0)203 201 7760
Mobile: +44 (0)7932 486928
Email: helen.gustard@icgam.com

Maitland/amo
Sam Turvey
Partner
Tel: +44 (0)207 379 5151
Mobile: +44 (0)78 2783 6246
Email: sturvey@maitland.co.uk

About ICG
ICG is a global alternative asset manager with over 30 years’ history.

We manage €45.6bn* of assets in private debt, credit and equity, principally in closed-end funds. We provide capital to help companies grow through private and public markets, developing long-term relationships with our business partners to deliver value for shareholders, clients and employees. We operate across four asset classes – corporate, capital market, real asset and secondary investments. In addition to growing existing strategies, we are committed to innovation and pioneering new strategies across these asset classes where the market opportunity exists.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at: www.icgam.com . You can follow ICG on LinkedIn.

*as at 30 June 2020

Read the press release

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