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Verdane closes continuation vehicle for three Verdane Capital VIII companies

Verdane Capital

Verdane closes continuation vehicle for three Verdane Capital VIII companies

January 15, 2021 — To further enhance the value creation in its 2013-vintage fund Verdane Capital VIII K/S and an associated co-investment vehicle, Verdane Capital VIII Winds SPV K/S, Verdane has today established a new vehicle, Verdane Capital 2020. The new continuation vehicle provides additional time and capital to address further value creation opportunities in three assets, two of which have a strong sustainability angle as suppliers to the global wind turbine industry.

The companies being transferred into the new vehicle are Polytech, a global leader in lightning protection systems and leading edge protection for wind turbines; Jupiter Bach, a global leader in nacelle and spinner covers for wind turbines; and Bellman Group, a full-service provider of field-related works required for construction of crucial infrastructure and buildings. Polytech and Jupiter Bach are headquartered in Denmark, while Bellman Group is headquartered in Sweden.

 

The transaction increases the Verdane Capital VIII distributed-to-paid-in capital ratio to approximately 150%, and a number of assets still remain in the Fund following the transaction. Other successful exits from the Fund, prior to the establishment of Verdane Capital 2020, include JSB Group, Norstat, RoyalDesign and WhiteAway.

In order to adhere to industry best practice and ensure the best possible outcome for existing investors, Verdane was during the sales process open to offers from new private equity managers to manage the portfolio going forward.

Verdane was advised by investment bank Evercore’s Private Capital Advisory team, and Andulf Advokat, a boutique law firm specialising in Private Equity.

 

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Verdane’s team of 62, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe. www.verdane.com

 

Press contacts

Frida Einarson, Head of IR & Business Development
Verdane
+46 70 244 20 83
frida.einarson@verdane.com

 

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OmniActive Health Technologies Announces Strategic Investment from TA Associates to Accelerate Global Growth

TA associates

Mumbai, India and Morristown, N.J., — OmniActive Health Technologies, which offers a wide range of premium, scientifically-validated, natural nutraceutical ingredients, today announced that TA Associates, a leading global growth private equity firm, has acquired a significant stake in the Company, while Founder and Executive Chairman Sanjaya Mariwala has further increased his personal holding.

Financial terms of the transaction were not disclosed.

Established in 2005, OmniActive seeks to improve lives by enhancing nutrition and wellness through science and innovation. A leader in health solutions, the Company offers a range of premium natural ingredients that are innovative and scientifically-validated for dietary supplementation and nutritional fortification. OmniActive works with leading human nutrition brands and manufacturers across the world to improve the health and well-being of consumers through a solution-oriented approach. The Company has R&D and manufacturing operations in Pune, Hosur and Thane in India; and sales and distribution operations in the U.S., Europe, India, Asia, Australia and Latin America.

“We are pleased to welcome TA Associates as a strategic investor and partner for the next phase of OmniActive’s growth journey. We believe that TA has deep capabilities and experience investing in companies focused on nutritional ingredients, and shares OmniActive’s vision of bringing innovative, natural and science-based solutions to our customers and end consumers. We intend to leverage our strong management capabilities and TA’s distinctive M&A sourcing engine to drive programmatic M&A and in-licensing to continuously deliver innovation to our customers,” said Sanjaya Mariwala, Founder, Executive Chairman and Managing Director of OmniActive.

“We believe that the nutritional ingredients space will see strong growth over the next decade. OmniActive has built a strong reputation and deep customer relationships by focusing on natural, R&D-led innovative ingredients. We look forward to working together with Mr. Mariwala and the OmniActive management team to further accelerate the growth in this business through organic levers and M&A,” said Naresh Patwari, a Director at TA Associates Advisory Private Limited.

“We believe that TA’s global healthcare experience will be valuable in supporting OmniActive’s next phase of growth through continued organic growth and strategic acquisitions. OmniActive has been growing at an accelerated pace, driven by a portfolio of branded, innovative natural products with clinically supported health benefits, and we are excited to continue this growth journey and supporting our customers with TA as our new equity partner,” said Jim Hamilton, CEO of OmniActive.

“We are impressed by the quality of OmniActive’s business and customer franchise. We believe that OmniActive is well-placed to benefit from the strong growth in the nutraceuticals ingredients space, and look forward to our partnership,” said Dhiraj Poddar, a Managing Director at TA Associates Advisory Private Limited.

OmniActive Health Technologies, Everstone and Other Selling Shareholders were advised by Investec (sole Financial Advisor), DSK Legal and KPMG. TA Associates was advised by Houlihan Lokey USA, Shardul Amarchand Mangaldas and PriceWaterhouse Coopers.

About OmniActive Health Technologies
Established in 2005, OmniActive seeks to improve lives by enhancing nutrition and wellness through science and innovation. OmniActive’s extensive portfolio consists of natural, scientifically-validated, sustainable and IP-protected ingredients for global customers in dietary supplements and functional foods and beverages. Some of the Company’s leading brands include Lutemax®, Capsimax®, CurcuWIN®, Gingever, Xtenergy® and OmniXan®. OmniActive partners with customers through its sales and distribution networks in key markets worldwide, supported by three global R&D centers and best-in-class production facilities throughout India. The Company has offices in Mumbai, India and Morristown, New Jersey. For more information consult: www.omniactives.com

About Sanjaya Mariwala
Sanjaya Mariwala is a successful entrepreneur and business leader. Mr. Mariwala led Kancor Ingredients Ltd. previously, which he sold in 2014 to V Mane Fils of France. He is also a shareholder and director for various Mariwala Family enterprises, namely, Autohangar India Pvt Ltd, Food Service India Ltd., Setu Nutraceuticals and Edence Nutrition. Mr. Mariwala founded OmniActive in 2005 and has led the Company through its growth for the past 15 years. He currently serves as its Executive Chairman. In addition, he helped establish the Association of Herbal and Nutraceutical Manufacturers of India (AHNMI), and heads several initiatives within FICCI, CII, CRN and other industry shaping forums. Mr. Mariwala supports various charity initiatives with some notable examples being Vitamin Angels and OmniActive’s Improving Lives Foundation.

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 $3 billion per year. The firm’s more than 100 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.

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Blackstone Hires Joe Dowling as Global Co-Head of Blackstone Alternative Asset Management (BAAM)

Blackstone

New York, January 11, 2021 – Blackstone (NYSE:BX) today announced that Joe Dowling, the former Chief Executive Officer of Brown University’s Investment Office, has joined the firm as Global Co-Head of Blackstone Alternative Asset Management (BAAM) alongside John McCormick. Joe will oversee BAAM’s investment activities going forward, while John will oversee BAAM’s business and investor functions.

BAAM invests in primarily liquid and semi-liquid investment strategies for institutional and retail investors seeking attractive risk-adjusted returns. BAAM manages $78 billion of AUM and is the global market leader in allocating to hedge funds. It has also diversified into newer businesses including special situations, GP stakes, liquid alternatives, and equity capital markets.

Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder, said: “Joe’s experience in investing in hedge funds, public equity (particularly in faster growing sectors), commodities and currencies make him an excellent addition to our team. Our ability to attract a world-class investor to co-head BAAM is a testament to the strength of the platform and is wonderful news for our investors.”

Jon Gray, Blackstone President & COO, said: “We are quite excited to have attracted such a phenomenal investor to Blackstone. Joe has a leading track record in allocating capital, investing directly, and building tremendous teams. John has done an exceptional job of growing the BAAM business with new platforms and strong results. We believe that the combination of Joe and John will enable us to expand into new areas and deliver even better returns for our investors, while maintaining our focus on downside risk, a hallmark of BAAM’s business.”

John McCormick, Blackstone Global Co-Head of BAAM, said: “I am delighted to welcome Joe to BAAM. His knowledge of hedge funds, experience managing multi-asset allocations, and background in direct investing make him a perfect fit as my partner.  I am proud of the momentum in BAAM’s business and am excited to see how Joe and I can deliver more for our clients.”

Joe Dowling, Blackstone Global Co-Head of BAAM, said: “Blackstone is the leader in the hedge fund allocation space. The firm has a reputation for being innovative and at the forefront of new investing opportunities. I look forward to working alongside John and the talented team at BAAM.”

Prior to his appointment as Chief Executive Officer overseeing Brown University’s endowment in 2018, Mr. Dowling served as the University’s Chief Investment Officer since June 2013. Under his leadership, Brown led the Ivy League’s and other peer institutions in performance over 1,3, 5 and 7 years. Mr. Dowling also served as interim Chief Financial Officer of the University from May 2019 until January 27, 2020, leading all finance and treasury functions and cash and debt management. Before joining Brown, he was the founder and chief executive officer of Narragansett Asset Management, where he managed funds for institutions, pension funds and endowments. Mr. Dowling has also worked for First Boston, Tudor Investments and Oracle Partners. He has a bachelor’s degree and a master’s in business administration from Harvard University.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Media Contact
Paula Chirhart
+1-347-463-5453
paula.chirhart@blackstone.com

Categories: People

Final results of the Offer for NIBC

Blackstone

This is a joint press release by NIBC Holding N.V. (“NIBC”, the “Company”) and Flora Acquisition B.V. (the “Offeror“), an entity incorporated under Dutch law, owned by certain funds (the “Blackstone Funds“) managed and/or advised by Blackstone’s Tactical Opportunities and Private Equity businesses and other managers affiliated with The Blackstone Group Inc. (each or together, as the context requires, “Blackstone“), pursuant to the provisions of Section 17 paragraph 4 of the Decree on Public Takeover Bids (Besluit Openbare Biedingen Wft) (the “Decree“) in connection with the recommended public offer (the “Offer” and together with the transactions contemplated in connection therewith, the “Transaction”) by the Offeror for all the issued and outstanding ordinary shares in the capital of NIBC (the “Shares”). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of the offer memorandum dated 7 August 2020 (“Offer Memorandum“) approved by the Netherlands Authority for Financial Markets (Stichting Autoriteit Financiële Markten, the “AFM“). Terms not defined in this press release will have the meaning given thereto in the Offer Memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.

Final results of the Offer for NIBC

The Hague / Amsterdam, the Netherlands – 11 January 2021

  • During the Post Acceptance Period, 1.43% of the Shares have been tendered under the Offer.
  • Including Shares already held by or irrevocably committed to the Offeror or its group companies after Settlement and any Shares to which the Offeror or its group companies is entitled, this represents a total of 97.68% of the Shares (excluding Treasury Shares).
  • Settlement of the Shares tendered during the Post Acceptance Period will take place on 14 January 2021.
  • Delisting to occur as soon as possible.
  • The Offeror, together with its group companies, will initiate the statutory squeeze-out proceedings in order to obtain 100% of the Shares.

During the Post Acceptance Period which expired at 17:40 (CET) today, 2,096,489 Shares have been tendered under the Offer, representing approximately 1.43% of the aggregate issued and outstanding share capital of NIBC. Including the 140,987,055 Shares already held by or irrevocably committed to the Offeror or its group companies following Settlement and any Shares to which the Offeror or its group companies is entitled, this amounts to a total of 143,083,544 Shares, representing approximately 97.68% of the aggregate issued and outstanding share capital of NIBC (excluding Treasury Shares).

Settlement Post Acceptance Period

With reference to the Offer Memorandum, holders of Shares who accepted the Offer during the Post Acceptance Period shall receive the Offer Price for each Share validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) and delivered (geleverd) for acceptance pursuant to the Offer, under the terms and conditions of the Offer Memorandum and subject to its restrictions.

Settlement of the Shares tendered during the Post Acceptance Period and payment of the Offer Price will take place on 14 January 2021. Following settlement of the Shares tendered during the Post Acceptance Period, the Offeror or its group companies will hold 143,083,544 Shares, representing approximately 97.68% of the aggregate issued and outstanding share capital of NIBC (excluding Treasury Shares).

Delisting

The Offeror and NIBC intend to procure the delisting of the Shares on Euronext Amsterdam as soon as possible under the applicable rules.

Squeeze-Out Procedure

Since the Offeror or its group companies own more than 95% of the Shares, the Offeror together with its group companies shall, at their discretion, commence (i) a statutory buy-out procedure (uitkoopprocedure) in accordance with article 2:92a of the Dutch Civil Code or (ii) the takeover buy-out procedure in accordance with article 2:359c of the Dutch Civil Code acquire the remaining Shares that are not yet held by the Offeror or its group companies.

The Settlement Agent
ING Bank N.V.
Bijlmerdreef 106
1102 CT Amsterdam
The Netherlands

Investor and press enquiries NIBC

Martin Groot Wesseldijk
T: +31 6 5160 8425
E: martin.groot.wesseldijk@nibc.com

Eveline van Wesemael
T: +31 70 342 5412
E: eveline.van.wesemael@nibc.com

Press enquiries Blackstone

Ramesh Chhabra
T: +44 20 7451 4053
E: Ramesh.Chhabra@blackstone.com

Rebecca Flower
T: +44 7918 360372
E: rebecca.flower@blackstone.com

Public relations Blackstone

David Brilleslijper
Comprehensive Strategies
T: +31 (0)6 109 425 14
E: David@comprehensivestrategies.nl

Information Agent Blackstone

Ivana Cvjetkovic
Georgeson
M: +31 (0)6 11 422 616
E: Ivana.Cvjetkovic@georgeson.com

About NIBC

NIBC is best suited to help entrepreneurs at their decisive moments. Now and in the future. As a bank for entrepreneurs, we are committed to cultivating our ‘THINK YES’ mentality by being flexible and agile and by matching our clients’ can-do attitude. We support our corporate clients in building their businesses. For our retail clients in the Netherlands, Germany and Belgium we offer mortgages, online savings and brokerage products that are accessible, easy to understand and fairly priced. Operating in the Netherlands (The Hague and Amsterdam), Germany and UK, our corporate clients business (mainly mid-market) offers advice and debt, mezzanine and equity financing solutions to entrepreneurs across select sectors and sub-sectors in which we have strong expertise and market positions. The mid-market is dynamic by nature and requires a bank that can respond quickly and in a highly flexible way. Our aim is to meet the market’s requirements at decisive moments such as mergers and acquisitions, management buy-outs, investments and strategic financings and re-financings.

For more information, please refer to the NIBC website www.nibc.com.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management as of September 30, 2020 include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Disclaimer

Restrictions

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, NIBC, the Offeror and Blackstone disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither NIBC, nor the Offeror nor Blackstone, nor any of their advisers, assumes any responsibility for any violation of any of these restrictions. Any NIBC shareholder who is in any doubt as to his or her position should consult an appropriate professional adviser without delay. This announcement is not to be published or distributed in or to Japan or any other jurisdiction in which such publication or distribution would be unlawful.

The information in the press release is not intended to be complete. This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or the solicitation of an offer to buy or acquire the securities of NIBC in any jurisdiction.

Forward looking statements

Certain statements in this press release may be considered “forward-looking statements”, such as statements relating to the impact of this Transaction on NIBC, the Offeror and Blackstone and the targeted timeline for the Transaction. Forward-looking statements include those preceded by, followed by or that include the words “anticipated,” “expected” or similar expressions. These forward-looking statements speak only as of the date of this release. Although NIBC, the Offeror and Blackstone believe that the assumptions upon which their respective financial information and their respective forward-looking statements are based are reasonable, they can give no assurance that these forward-looking statements will prove to be correct. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, receipt of regulatory approvals without unexpected delays or conditions, the Offeror’s ability to successfully operate NIBC without disruption to its other business activities, the Offeror’s ability to achieve the anticipated results from the acquisition of NIBC, the effects of competition, economic conditions in the global markets in which NIBC operate, and other factors that can be found in NIBC’s, the Offeror’s and/or Blackstone’s press releases and public filings.

Neither NIBC, nor the Offeror nor Blackstone, nor any of their advisers, accepts any responsibility for any financial information contained in this press release relating to the business, results of operations or financial condition of the other or their respective groups. Each of NIBC, the Offeror and Blackstone expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

***

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Apollo Global Management to Announce Fourth Quarter and Full Year 2020 Financial Results and Host Conference Call on February 03, 2021

Apollo Global

January 11, 2021

NEW YORK, Jan. 11, 2021 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) announced today that it plans to release its financial results for the fourth quarter and full year 2020 on Wednesday, February 03, 2021, before the opening of trading on the New York Stock Exchange. Management will host a conference call to review Apollo’s financial results on the same day at 8:30 a.m. ET. The conference call may be accessed by dialing (833) 614-1406 (U.S. domestic) or +1 (914) 987-7127 (international), and providing conference call ID 9462279 when prompted by the operator. The number should be dialed at least ten minutes prior to the start of the call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis and can be accessed through the Stockholders section of Apollo’s website at www.apollo.com.

Following the call a replay of the event may be accessed either telephonically or via audio webcast. A telephonic replay of the live broadcast will be available approximately two hours after the live broadcast by dialing (855) 859-2056 (U.S. callers) or +1 (404) 537-3406 (non-U.S. callers), passcode 9462279. To access the audio webcast, please visit Events and Presentations in the Stockholders section of Apollo’s website at www.apollo.com.

About Apollo
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had assets under management of approximately $433 billion as of September 30, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.apollo.com.

Forward Looking Statements

Effective September 5, 2019, Apollo Global Management, Inc. converted from a Delaware limited liability company named Apollo Global Management, LLC (“AGM LLC”) to a Delaware corporation named Apollo Global Management, Inc. (“AGM Inc.” and such conversion, the “Conversion”). This press release includes the results for AGM LLC prior to the Conversion and the results for AGM Inc. following the Conversion. In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to (a) AGM Inc. and its subsidiaries, including the Apollo Operating Group and all of its subsidiaries, following the Conversion and (b) AGM LLC and its subsidiaries, including the Apollo Operating Group and all of its subsidiaries, prior to the Conversion, or as the context may otherwise require. 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, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. 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, including risks relating to our dependence on certain key personnel, our ability to raise new private equity, credit or real assets funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, generally, our ability to manage our growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenues, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. While we are unable to accurately predict the full impact that COVID-19 will have on our results from operations, financial condition, liquidity and cash flows due to numerous uncertainties, including the duration and severity of the pandemic and containment measures, our compliance with these measures has impacted our day-to-day operations and could disrupt our business and operations, as well as that of the Apollo funds and their portfolio companies, for an indefinite period of time. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in Apollo’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 21, 2020 and quarterly report on Form 10-Q filed with the SEC on November 6, 2020, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should 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 other filings. We undertake 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.

Contact Information

Apollo Global Management

For investors please contact:
Peter Mintzberg
Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0528
pmintzberg@apollo.com

Ann Dai
Investor Relations Manager
Apollo Global Management, Inc.
(212) 822-0678
adai@apollo.com

For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
jrose@apollo.com

 

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Source: Apollo Global Management, Inc.

Categories: News

KKR Invests in Music Catalog of Ryan Tedder and OneRepublic

KKR

January 11, 2021

Global Investment Firm to Partner with Tedder on Music

NEW YORK–(BUSINESS WIRE)– Leading global investment firm KKR, together with Ryan Tedder, songwriter, musician, producer and lead vocalist of OneRepublic, today announced that KKR has agreed to acquire a majority stake of the music catalog of Tedder and OneRepublic, including music publishing and recorded music rights. Following the acquisition, Tedder will retain an interest in his music alongside KKR. Tedder’s management, Patriot Management, and artist development company mtheory, through its MTC Music Royalties fund, will also participate in the equity transaction. Interscope Records will continue to own the master recordings of OneRepublic.

The catalog includes nearly 500 songs written, recorded or produced by three-time Grammy winner Tedder for OneRepublic and other artists, including songs Tedder has written with Beyonce, U2, Paul McCartney, Adele, Stevie Wonder, Ed Sheeran, Lady Gaga, Cardi B, Jonas Brothers, Thomas Rhett and all OneRepublic songs including their massive hits “Apologize,” “Secrets” and “Counting Stars,” which just passed 40 million in sales and is one of the highest selling singles in Interscope Records’ history. Songs written by Tedder have sold over 420 million copies, or the equivalent of 63 billion streams.

Centered around an “artist-first” approach and in collaboration with Tedder, KKR plans to leverage the firm’s vast network, resources and global scale as well as its deep experience successfully investing in market-leading music, digital, media and content businesses to expand upon the success and reach of Tedder and OneRepublic’s music.

“The music industry is undergoing an incredible period of transformation,” shared Tedder. “Streaming and all forms of digital content are not only providing new avenues for how we consume music, but also for how artists can reach new audiences in a much more immersive way. KKR really stood out to us from every metric that mattered and it truly impressed upon me and my team their commitment to music as a true focus and passion moving forward.”

“We are excited to partner with Ryan on both his extraordinary body of creative work and on pursuing future opportunities together. At KKR, we are focused on a number of investment initiatives across the music and entertainment industries and we believe Ryan’s unique combination of artistic brilliance and business acumen will help us amplify these efforts,” said Nat Zilkha, Partner at KKR and Chairman of Gibson Brands, a portfolio company of KKR.

“KKR’s collaborative approach across investment strategies allows us to provide highly flexible and creative capital solutions to artists and companies across the music and entertainment industry. We are looking forward to partnering with Ryan and other leading artists to support their art and innovation,” added Jenny Box, Partner at KKR.

“Ryan is one of the most creative artists of our time,” said Ron Laffitte, President of Patriot Management. “We were looking for a strategic partner to help us build on Ryan’s incredible success and find new ways to empower his artistic genius. KKR stood out immediately because they understand that the artist should be at the center of everything that involves the creator’s creation.”

KKR has experience investing in artist-centric businesses, including household names in the music industry such as Gibson Brands, Alpha Theta (f.k.a. Pioneer DJ) and BMG. KKR also has broad experience investing in the digital media and content sectors, including investments in ByteDance (TikTok), Jio Platforms, Epic Games, AppLovin, OverDrive, RBmedia, WebMD, UFC, Leonine, Next Issue Media and Nielsen.

“We believe that KKR, with its ability to leverage its vast investment platform to bring innovation to our industry, will be the ideal partner to support Ryan in his future endeavors,” said Nick Geller, COO of Patriot Management. “We are excited to work with Nat, Jenny and the rest of the KKR team on this opportunity, and to be a part of their various initiatives in the music industry going forward.”

KKR is investing in the catalog through its Dislocation Opportunities Fund and private credit vehicles. Jordan Keller and Sarah Smith of Keller, Turner, Andrews & Ghanem represented the Sellers, and Latham & Watkins and FTI Consulting served as advisors to KKR on the transaction. Further terms were not disclosed.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Ryan Tedder

3x Grammy award winning songwriter and producer, Ryan Tedder, has worked with everyone from Adele to Paul McCartney, Beyonce, Taylor Swift, John Legend and Anitta in addition to being the lead singer, writer and producer of the multi-platinum selling band OneRepublic. Most recently, Tedder has co-written two #1 country singles including the current country #1 “Champagne Nights” by Lady A, the #1 global airplay hit of 2019 (“Sucker” by Jonas Brothers), Lady Gaga and Elton John’s “Sine From Above”, Alicia Key’s “Love Looks Better”, Blackpink & Cardi B’s “Bet You Wanna, four songs on Miley Cyrus’s album PLASTIC HEARTS, and Anitta’s “Me Gusta Feat. Cardi B and Myke Towers”, as well as serving as an executive producer on upcoming albums by Jessie J, Bastille, Anitta, DNCE, Jonas Brothers & OneRepublic. Last summer, Tedder, along with OneRepublic and Kygo, released “Lose Somebody”. As a producer, he received the Grammy award for “Album of the Year” for the Albums 21, 1989, and 25. As a songwriter, Tedder has received the National Music Publishers’ Association’s Songwriter Icon Award at the NMPA annual meeting, as well as the Diamond Award certified by the RIAA. He is also a producer and mentor on the hit primetime show, Songland.

About OneRepublic

OneRepublic is comprised of Ryan Tedder, Brent Kutzle, Zach Filkins, Drew Brown, Eddie Fisher and Brian Willett. They released their debut album DREAMING OUT LOUD in 2007 and The release included the multi-platinum-selling smash single “Apologize,” which shattered digital sales and airplay records worldwide and received a Grammy Award nomination. The band’s sophomore album, 2009’s WAKING UP, produced the hit singles “All the Right Moves,” “Secrets” and “Good Life.” The certified-platinum album NATIVE followed in 2013, featuring the No.1 hit and 40 million plus-selling single “Counting Stars,” along with a worldwide tour. OneRepublic released OH MY MY, their fourth full-length album in 2016. During the spring of 2019, the band released “Start Again ft. Logic,” a song featured on the soundtrack for the Netflix drama 13 Reasons and “Connection” which was part of FCA’s Summer of Jeep campaign. OneRepublic has amassed 5B streams on Spotify to date. OneRepublic’s tracks, “Rescue Me,” “Somebody To Love”, “Wanted”, “Didn’t I”, and “Better Days” from their upcoming album, HUMAN, are out now. OneRepublic most recently released “Wild Life”, which appeared in Disney+’s original movie, Clouds.

Media:

For KKR:
Cara Major or Miles Radcliffe-Trenner
media@kkr.com

For Ryan Tedder:
Dvora Englefield @ The Lede Company
Dvora.Englefield@ledecompany.com

For Patriot Management:
Amanda Silverman @ The Lede Company
Amanda.Silverman@ledecompany.com

For mtheory:
Joy Larocca
joy@mtheory.com

Source: KKR

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Ratos completes divestment of Bisnode

Ratos

On 8 October, Ratos announced that an agreement had been signed to divest Bisnode to Dun & Bradstreet. This divestment has now been completed after the customary regulatory approval and other conditions were met, including payment of the equity value.

The equity value for Ratos’s holding of 70%, as communicated earlier, was SEK 3,900m, yielding a consolidated capital gain of approximately SEK 1,900m. 25% of the equity value will be invested in shares in Dun & Bradstreet, which is listed on the New York Stock Exchange, corresponding to approximately 1% of shares outstanding. In addition, Ratos received a dividend from Bisnode during the fourth quarter of 2020 amounting to SEK 175m in accordance with the terms and conditions of the transaction and earlier communication.

“The divestment of Bisnode is yet another step in Ratos’s evolution to become a business group, with an emphasis on operational development, add-on acquisitions in the companies and new platform acquisitions in companies and industries in which Ratos has in-depth expertise. In conjunction with the sale, we have drawn attention to the value creation that has been achieved in Bisnode and unlocked financial resources to enable Ratos to implement our strategy,” says Jonas Wiström, President and CEO of Ratos.

 

For further information, please contact:
Jonas Wiström, CEO, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.com

About Ratos:
Ratos is a business group consisting of 11 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 34 billion in sales and EBITA of SEK 1.3 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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KKR Closes Inaugural Asia Pacific Infrastructure Fund at US$3.9 billion Cap

KKR

January 10, 2021

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Pacific Infrastructure Investors SCSp (the “Fund”), a US$3.9 billion fund focused on infrastructure-related investments across Asia Pacific.

“We are thrilled to announce the close of our inaugural Asian infrastructure fund, coming at this pivotal time for the infrastructure sector,” said Ming Lu, Head of KKR Asia Pacific. “We believe that Asia Pacific contains some of the most favorable macroeconomic dynamics in the world, and that the region is expected to account for more than half of the world’s economic growth in the coming years. However, the demand to develop or upgrade critical infrastructure assets outpaces the available public funding in many markets. Private capital is playing an increasingly important role to fill the gap in the region, and through our new fund, KKR is committed to investing in essential infrastructure solutions over a long-term horizon.”

KKR’s infrastructure investment approach combines a disciplined selection process with distinctive deal sourcing and structuring capabilities executed by a dedicated investment team based in markets across Asia Pacific. In line with this approach, the Fund will focus on critical infrastructure with low volatility and strong downside protection where KKR believes it can achieve attractive risk-adjusted returns by leveraging its global network of industry experts, its highly experienced team in Asia Pacific and long history of operational value creation. The Fund has a broad investment mandate across both emerging and developed Asia Pacific, in sectors, including waste, renewables, power and utilities, telecommunications and transportation infrastructure.

At the time of close, the Fund reached its hard cap to become the largest pan-regional infrastructure fund to have been raised for Asia Pacific. The Fund’s size aligns with KKR’s expectations for infrastructure deal flow in the region through the long-term horizon. KKR invested approximately US$300 million in capital alongside external investors through its balance sheet and employee commitments.

David Luboff, Head of Asia Pacific Infrastructure at KKR, said, “Infrastructure is a key priority for KKR in Asia Pacific and we are proud to have built one of the leading infrastructure investment platforms in the region. The size of this fund and the caliber of our limited partners reflect the strength of both our Asia Pacific and infrastructure businesses, and speaks to our ability to deliver attractive, risk-adjusted returns to our investors through a careful investment approach. Bringing together our deep, local market knowledge with decades of global industry expertise uniquely positions us to flexibly meet the crucial infrastructure needs of both developed and emerging Asia Pacific.”

The Fund, which was significantly oversubscribed and closed at its hard cap, received strong backing from a diverse group of prominent global infrastructure investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices and high net worth individual investors.

“The successful close of our new infrastructure fund demonstrates the compelling value proposition that KKR offers to investors. We are grateful for the confidence investors have placed in our Asia Pacific infrastructure strategy and talented team as they look for investments that can deliver stable capital appreciation in today’s volatile environment,” said Alisa Amarosa Wood, Head of KKR’s Private Markets Strategies Group.

KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. Over this period, the Firm has deployed more than US$24 billion across approximately 40 infrastructure investments, and currently has a team of approximately 45 dedicated investment professionals.

“One of our differentiators is KKR’s ability to provide flexible capital solutions to meet the needs of its portfolio companies across all asset classes,” said Raj Agrawal, Global Head of Infrastructure at KKR. “This unique blend of deal sourcing and structuring, along with our deep operational management and active engagement allows us to take advantage of the full range of investment opportunities created by Asia Pacific’s continued emergence as an economic engine for the 21st Century.”

In Asia, KKR has committed US$1.8 billion across six investments as part of the Firm’s dedicated Asia Pacific infrastructure strategy, which was launched in 2019. KKR’s Asia Pacific infrastructure portfolio includes India Grid Trust, India’s leading infrastructure investment trust; Virescent Infrastructure, a renewable energy company in India; Eco Solutions Group, a leading environmental services provider in South Korea; First Gen, a leading Philippines power producer; TSK Corporation, an environmental services management company in South Korea; and Pinnacle Towers, a leading telecommunications infrastructure provider in the Philippines.

Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

KKR Americas
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

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Bloomerang Acquires Kindful to Accelerate Vision of Helping Nonprofits Fund Their Missions

JMI Equity

Combined company will offer an expanded set of capabilities to help nonprofits attract more donors, deepen existing donor relationships and improve fundraising effectiveness

INDIANAPOLIS–(BUSINESS WIRE)–Bloomerang, a leader in cloud-based donor management and fundraising software for small and mid-size nonprofits, today announced that it has acquired Kindful, a nonprofit software platform known for its best-in-class third party application integrations and online fundraising tools.

The combination of advanced donor engagement insights provided by Bloomerang and Kindful’s strengths in online giving and integrated applications, accelerates Bloomerang’s vision to deliver the donor management and fundraising platform of the future.

“We’ve always focused on elevating the effectiveness of nonprofits and now we’ll be able to scale it at a much faster pace,” said Ross Hendrickson, CEO of Bloomerang. “Our target market has been underserved by legacy tech and manual processes. They deserve much more. By combining the two top rated companies in this space, we can make a combined platform that helps nonprofits acquire new donors, increase donor loyalty, and ultimately affect their mission through thoughtful fundraising.”

The combined company will offer nonprofits the opportunity to deploy a modern, easy-to-use donor management, donor communication, fundraising and reporting platform that supports the complete donor lifecycle and seamlessly integrates with the broader nonprofit application ecosystem. Bloomerang will also continue its commitment to providing world-class fundraising education and resources through its research initiatives, webinar series, and consultant network. Together, the combined company will support tens of thousands of nonprofit professionals globally and is backed by a team of 200 employees who are passionate about delivering great service and support.

“Kindful’s donor management platform has excelled by making online donation pages, real-time integrations and reporting tools simple, yet powerful for customers,” said Jeremy L. Bolls, Founder and CEO of Kindful. “We’re thrilled to join Bloomerang because together we can help our customers make a greater impact on the world by providing tools that allow them to spend more time and resources on their mission to do more good.”

The acquisition builds on a strong year of momentum for the company. Last September Bloomerang received a strategic growth investment from JMI Equity. Earlier in 2020 the company was named a Leader in Nonprofit CRM software by G2, SoftwareAdvice and Business-Software.com. And, for the fifth consecutive year, Bloomerang was named one of the “Best Places to Work in Indiana.”

About Bloomerang

Indianapolis-based Bloomerang is a cloud-based donor management and fundraising platform designed to help nonprofits reach, engage and retain the advocates they depend on to achieve their vision for a better world. For more information about Bloomerang, visit: https://bloomerang.co.

About Kindful

Kindful is a Nashville-based software company that provides powerful software to help nonprofits organize data and manage donors better. Featuring online donation pages, donor management tools, reporting tools, and integrated partnerships with industry-leading services, Kindful’s platform is designed to help nonprofit employees manage their donors easier, saving time and creating better insights. Kindful proudly powers thousands of world-changing organizations both in the U.S. and internationally, and has consistently been recognized by G2 as a leader in nonprofit software and named to the 2020 Inc. 5000 for the first time. For more information, please visit kindful.com.

About JMI Equity

JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information visit jmi.com.

Contacts

Media:
Bloomerang
Steven Shattuck, Chief Engagement Officer
steven.shattuck@bloomerang.co

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AM-Pharma announces enrollment and financing of COVID-19 cohort in phase III REVIVAL trial

GIlde Healthcare

  • First patients with COVID-19 enrolled in the REVIVAL Phase III study
  • COVID-19 patients with sepsis-associated acute kidney injury will be included in an exploratory cohort in the pivotal trial enrolling up to 1,600 SA-AKI patients overall
  • RVO, an agency of the Dutch Ministry of Economic Affairs and Climate Policy, provides a loan of up to €5 million for the COVID-19 cohort clinical study

Utrecht (the Netherlands) – AM-Pharma B.V., an emerging leader focused on the treatment of kidney disease, sepsis and organ injury, today announced that the first patients with COVID-19 infection and sepsis-associated acute kidney injury (SA-AKI) have been enrolled in the Company’s Phase III REVIVAL pivotal trial in an exploratory cohort to assess the safety, tolerability and clinical benefit of recombinant alkaline phosphatase.

Patients with severe COVID-19 infection often present with acute severe inflammation and organ failure. Recent studies conducted in the US demonstrated that up to 90% of the COVID-19 patients that received mechanical ventilation also suffered from AKI and that the development of AKI in these patients is associated with poor prognosis.1 AM-Pharma received an innovation credit of up to EUR 5 million from the “Netherlands Enterprise Agency” (RVO.nl), which has been established by the Dutch Ministry of Economic Affairs and Climate Policy to support the development of innovative programs with promising market potential.

“The ongoing coronavirus pandemic and the lack of treatment options for severe cases has been devastating for patients, their families and medical communities around the world,” commented Erik van den Berg, Chief Executive Officer at AM-Pharma. “The prevalence of COVID-19 infections and the high AKI comorbidity support our decision to include this additional cohort into our Phase III REVIVAL pivotal study. By providing our proprietary recombinant alkaline phosphatase to clinicians for evaluation in severe COVID-19 cases, we aim to make our novel treatment option available for these patients.”

The REVIVAL Phase III pivotal trial is a randomized, double-blind, placebo-controlled, two-arm, parallel-group, multi-center trial to evaluate the efficacy and safety of AM-Pharma’s proprietary human recombinant alkaline phosphatase for the treatment of patients with SA-AKI. The study will enroll approximately 1400 patients with SA-AKI in the main study population. In two exploratory cohorts, up to 100 patients with moderate Chronic Kidney Disease (CKD) and up to 100 patients with COVID-19 will be enrolled. The primary aim of the study is to confirm the improvement on the primary endpoint of 28-day all-cause mortality, as observed in the Phase II STOP-AKI study. Secondary endpoints include the treatment effect on long-term Major Adverse Kidney Events (MAKE), on the use of organ support, length of stay in the ICU and on 90-day all-cause mortality. Further information on this study can be found at www.clinicaltrials.gov, NCT04411472 (REVIVAL).

“We have seen the potential of AM-Pharma’s proprietary recombinant human alkaline phosphatase to benefit patients with sepsis and acute kidney injury, as demonstrated in the Phase II STOP-AKI study,” said John A. Kellum, M.D., Professor, Vice Chair Department of Critical Care Medicine and Director at the Center for Critical Care Nephrology at University of Pittsburgh. “This is very relevant for severe COVID-19 patients as many of these patients also experience AKI, with increased AKI severity being correlated with increased mortality.”

Professor Peter Pickkers, M.D., Ph.D., Chair of Experimental Intensive Care Medicine, Radboud University Medical Center, and principal investigator of the REVIVAL study added: “The relative reduction in mortality of 40% and significant improvement in renal function over the course of the Phase II STOP-AKI study period support the hypothesis that AM-Pharma’s drug candidate might provide a unique treatment opportunity for severe COVID-19 patients with acute kidney injury. I am excited to continue our collaboration with AM-Pharma for this trial.”

For the Phase III REVIVAL trial, potentially over 100 sites across Europe and North America are actively recruiting patients with SA-AKI in the trial. Enrollment completion of the first 400 patients in the main study population is expected by the end of 2021. The company expects to complete target enrollment and to announce data on the primary endpoint of 28-day all-cause mortality in 2023.

 

About AKI, Sepsis and COVID-19

Acute Kidney Injury (AKI) involves inflammatory processes in the kidney which can lead to complete loss of renal function. Hospital?acquired AKI affects annually around 3 million patients in Europe, the US and Japan, and is associated with mortality in roughly 700,000 patients. It occurs in 40-60% of critical care admissions. Depending on the severity and cause of renal injury, mortality ranges from 10% to as high as 60%. In the US alone, hospitals spend around $10 billion each year on managing this major medical problem.

Sepsis is a condition that is responsible for 1 out of 3 deaths in hospitals and is defined as life-threatening organ dysfunction caused by a dysregulated host response to infection. The kidney is the most commonly affected organ, resulting in SA-AKI and significantly increasing the risk for mortality and morbidity in sepsis. No singular effective therapy to alter the progression of these devastating conditions has been approved, while the healthcare burden for sepsis in the US alone is $16.7 billion on an annual basis.

In patients with COVID-19 requiring ICU care, the prevalence of AKI is 46% and up to 90% in COVID-19 patients who need mechanical ventilation. Development of AKI is associated with a poor prognosis with a mortality rate of approximately 50%. There is currently no treatment available for COVID-19 patients with AKI other than renal replacement therapy. Non-surviving patients have severe inflammation and excessive immune activation.

About recombinant alkaline phosphatase

AM-Pharma’s therapeutic candidate is a proprietary recombinant human Alkaline Phosphatase (AP) constructed from two naturally occurring human isoforms of the AP enzyme. The Company’s compound is highly stable and active and has a dual mechanism of action via dephosphorylation of lipopolysaccharides (LPS) and extracellular ATP. AM-Pharma has shown that treatment of patients with exogenous AP not only reduces local and systemic inflammation but also protects the kidney against further damage.

About AM-Pharma

AM-Pharma’s purpose is to save and improve the lives of patients confronted with kidney disease, sepsis and organ injury. Our initial focus is sepsis-associated acute kidney injury, the cause of death for hundreds of thousands of people hospitalized each year. Our proprietary recombinant human alkaline phosphatase has the potential to become the first treatment for sepsis-associated acute kidney injury and is now in a global pivotal Phase III clinical trial. We are a dedicated team driven to bring treatment options to severely ill patients, their families and acute care professionals. Find out more about us online at www.am-pharma.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over $1.5 billion across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, MedTech and therapeutics. The venture & growth companies are based in Europe and North America. For more information, visit the company’s website at www.gildehealthcare.com.

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