Archives

HealthEdge and UST HealthProof Merge, Creating Disruptive AI-Powered, Healthcare Payer Technology and Services Leader Under the Ownership of Bain Capital

BainCapital

Combination creates a leading, next generation claims operating system for payers, with end-to-end AI capabilities for claims, payments, care & utilization management, payment integrity, and member engagement, serving 115+ health plans 

BOSTON, September 4, 2025 – HealthEdge and UST HealthProof today announced the successful close of their merger, following Bain Capital’s acquisition of UST HealthProof from UST. Financial terms of the transaction were not disclosed.

Headquartered in Boston, the combined company will operate as HealthEdge. With its significant reach into the U.S. healthcare system, touching over 110 million lives, HealthEdge is well-positioned to empower health plans with modern AI-enabled technology and services that lower total costs and improve operational efficiency. The combined company will also be supported by Bain Capital’s forty-plus years of experience building and adding value to healthcare companies around the world to drive innovation and improve patient experiences and outcomes.

Health plans are under pressure from rising administrative costs, more complex regulations, and growing member expectations, and legacy systems are not serving plans’ evolving needs. The combination of HealthEdge and UST HealthProof creates a single, end-to-end platform that helps payers modernize their operations. By uniting HealthEdge’s AI-powered payer applications with UST HealthProof’s interoperability suite, the platform streamlines administrative processes, lowers total costs, and improves the member experience. UST HealthProof’s proprietary technology also reduces the risks of migrating to the cloud, giving payers a safer path to digital transformation while supporting better clinical outcomes for both payers and patients.

The combined company brings together award-winning technology, end-to-end product breadth, and industry experience to accelerate payer technology modernization. In particular, the combined company will:

  • Drive improved value for payers through integrated software and tech-enabled services, that can lower total costs while improving clinical outcomes
  • Unlock new product and market expansion opportunities in a growing industry
  • Accelerate platform and services innovation, by developing an AI-native operating system that supports all aspects of the payer value-chain, from claims administration automation and payment integrity to personalized member engagement
  • Create a stronger, unified go-to-market presence to address customers’ greatest needs

HealthEdge will be led by a management team that leverages leadership, vision, and expertise from both legacy organizations, creating new opportunities for team members to learn and grow. Kevin Adams, the former CEO of UST HealthProof, will serve as CEO of the combined company. Steve Krupa, the former CEO of HealthEdge, will remain actively involved as a member of the company’s board of directors.

“I’m honored to take the helm at this pivotal moment for healthcare technology,” said Kevin Adams, CEO of HealthEdge. “Health plans are looking for new ways to handle rising costs and regulatory demands while meeting what their members expect. This merger brings together best-in-class payer technology with seamless integration capabilities and experienced operational teams. It streamlines the administrative complexity that health plans deal with every day. Our integrated approach gives them a solution that’s easier to implement and more effective in delivering the value they are seeking.”

“HealthEdge has successfully partnered with health plans for years to drive continuous innovation in healthcare IT,” said Steve Krupa, member of HealthEdge’s Board of Directors. “We’re now positioned to unite modern technology with proprietary interoperability and proven operational expertise — enabling health plans to deliver a future of frictionless and cost-effective healthcare experiences.  We’re excited to join forces with UST HealthProof to deliver even greater value to our customers and teams.”

“HealthEdge and UST HealthProof are two innovative businesses with complementary customer bases, product suites, and go-to-market engines that combined will create the first end-to-end, next-generation claims platform of its kind for payers. And they have a proven track record of partnering with each other for nearly 10 years to create compelling value for health plans,” said Devin O’Reilly, a Partner at Bain Capital.

“By bringing these two leaders together, we are creating the clear next-generation cloud-based claims system for payers, with the scale, expertise, and technology to disrupt the sector. With healthcare at a critical inflection point and payers under unprecedented financial pressure, the combined company is well positioned to lower costs, harness AI-driven innovation, and deliver the frictionless US healthcare experience of the future,” said Paul Moskowitz, a Partner at Bain Capital.

TripleTree acted as financial advisor, Kirkland & Ellis LLP as legal counsel, and Ares Management as lead financing partner to Bain Capital. Evercore acted as financial advisor to HealthEdge. Goldman Sachs and JPMorgan acted as financial advisor and Davis Polk & Wardell LLP as legal counsel to UST HealthProof.

###

About HealthEdge
HealthEdge® is trusted to provide the technology and services that power health plans’ most important value streams. With an integrated platform of solutions spanning claims administration, quality improvement, prospective payment accuracy, provider network management, care management, member engagement and risk adjustment, HealthEdge enables health plans to converge their data so they can harness automation and the promise of AI. Combining this next-gen technology with services and expertise gives health plans unmatched capabilities to deliver a future of frictionless and cost-effective healthcare experiences. For more information, visit www.HealthEdge.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Media Contacts

 Scott Lessne / Charlyn Lusk

Categories: News

Tags:

Ardian enters in exclusive discussions to sell Magimix

Ardian

Ardian will continue focusing on the development of Robot-Coupe

Ardian, a world-leading private investment firm, and its partner Hameur Group announce that they have entered into exclusive discussions to sell Magimix to Lavafields Group, for an undisclosed consideration.

Created in 1971, Magimix focuses on premium small kitchen appliances for domestic use. This iconic brand is an industry leader in food preparation equipment such as food processors, blenders, juicers and coffee machines. The company primarily operates in France, the UK and the Netherlands, and serves a diversified customer base of specialized retailers, department stores and independent retailers, supported by a strong online presence.

Lavafields Group is a Franco-Belgian company with over 50 years’ expertise in household appliances. Active as producer-distributor of its own brands – riviera&bar, Frifri, Siméo and Dejelin – and as exclusive distributor of partner brands such as Ariete, Bissell, Nivona and Mill, the Group combines industrial know-how with commercial reach, particularly in Benelux and France. Its portfolio covers a wide range of products, from premium cooking equipment to innovative solutions for the home, with a constant focus on quality, design and durability. Positioned between tradition and innovation, Lavafields has built lasting partnerships with the major players in the retail sector, and is establishing itself as a growth driver in the European market for high-end household appliances

In December 2024, Ardian completed the acquisition of a majority stake in Robot-Coupe and Magimix from Hameur Group, the historical shareholder.

Ardian and Hameur have taken the decision to carve out Magimix in order to focus exclusively on the development of Robot-Coupe, the undisputed global market leader in premium benchtop equipment for professional use.

The completion of the transaction is expected in the coming weeks and is subject to some usual conditions’ precedents.

List of participants

  • Ardian

    • Ardian: Thibault Basquin, Emmanuel Miquel, Alexis Manet, Nicolas Kassab, Anouk Daoudal, Martin Blanc
    • Advisor: Société Générale (Cyril Paolantoni, Edoardo Dell’Orco, Willy Ta, Julie Dore)
    • Corporate lawyer: Latham & Watkins (Gaetan Gianasso, Michael Colle, Claudia Reix)
    • Vendor financial Due Diligence: EY (Gilles Marchadier, Elsa Abou Mrad, Edouard Pinot)
    • Vendor legal, tax & social Due Diligence: De Gaulle Fleurance & Associés (Henri-Nicolas Fleurance, Jean-Christophe Amy, Brice Mathieu), Stevens & Bolton, RSM

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

FirstClub Raises $23M to Expand Quality-First Quick Commerce

RTP Global

For India’s busy professionals and convenience-seeking consumers, Quick Commerce is a much-loved lifeline, with CareEdge forecasting India’s Quick Commerce orders to be worth roughly $30 billion by 2028.

Quick Commerce is popular, but it isn’t perfect. Harmful additives are seen in products across the most popular platforms, and overwhelming product volumes are leading to choice fatigue.

FirstClub is pioneering a better kind of Quick Commerce. One that brings greater quality and trust into the experience without compromising on speed. It’s proving a huge hit.

A new standard to shake up Quick Commerce

After over 11 years in leadership roles at Indian e-commerce giant Flipkart, Ayyappan R saw an opportunity to launch FirstClub, a commerce platform that places an absolute premium on product quality, ingredient transparency and consumer well-being while delivering quick delivery speeds.

Inspired by the Costco model of selling quality products at consistently fair prices, Ayyappan and team have established partnerships with brands and manufacturers that pass rigorous independent quality tests and are free of banned additives. “Clubhouses” (FirstClub’s label for dark stores, large fulfilment centres for online orders) are used to distribute high-quality packaged foods, fresh produce, bakery, dairy and nutrition goods across the city.

FirstClub launched in June, with four clubhouses now operating in Bengaluru. Firstclub’s quality-first service is resonating with Bengaluru residents. Average order values are coming in at double that of adjacent Quick Commerce platforms, and repeat purchases are high.

With an 185-strong team and a robust in-house supply chain and tech stack, FirstClub is primed for growth. More clubhouses are set to open in the coming weeks, putting FirstClub on track to serve all of Bengaluru by Diwali. But the team isn’t stopping there.

Seizing the moment

With such strong momentum, FirstClub is raising capital to hit even greater heights. This includes plans to open 35 new clubhouses in the next six months, launch new features like daily subscriptions, open new product categories, and accelerate hiring with a focus on young talent.

We’re proud to back Ayyappan and team with this capital in leading FirstClub’s $23M Series A funding round with Accel. You can read more about that raise in TechCrunch.

Commenting on the Series A, Nishit Garg, Partner at RTP Global said: “In a world of overwhelming product choices and confusing ingredient labels, FirstClub is closing the trust gap for Indian consumers. Ayyappan’s leadership, deep operator experience, market and category understanding are evident in the way the team has achieved early operational excellence and strong consumer love within just months of launch.”

Indian consumers rightly expect high-quality products as well as reliable delivery. A new era for Quick Commerce is required to meet this demand. It takes an experienced operator like Ayyappan to rise to such a task and reimagine the norm. His foresight is paying off with FirstClub enjoying growth at a blistering speed.

We’re proud to be on this journey and help deliver a better vision for India’s Quick Commerce: where households get better quality, better taste and no compromises on quality.

Categories: News

Tags:

Apollo to Present at the Bank of America 30th Annual Financials CEO Conference

Apollo logo

NEW YORK, Sept. 04, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Jim Zelter, President of Apollo Global Management, will participate in a fireside chat at the Bank of America 30th Annual Financials CEO Conference on Tuesday, September 16, 2025 at 6:00 am EDT.

A live webcast of the event will be available on Apollo’s Investor Relations website at ir.apollo.com. For those unable to join live, a replay will be available shortly after the event.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

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

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

Categories: News

Tags:

Carlyle AlpInvest Raises $20 Billion for Secondaries

Carlyle

AlpInvest Secondaries Program VIII reaches its hard cap of $15bn; platform surpasses $24bn with integrated Portfolio Finance strategy

New York, Amsterdam, London, and Hong Kong – September 4, 2025 – Carlyle AlpInvest, a leading global private equity investor, has successfully raised $20 billion for its global Secondaries strategy, anchored by the final close of AlpInvest Secondaries Fund VIII, the flagship fund within the AlpInvest Secondaries Program VIII (“ASP VIII”) which reached its $15 billion hard cap. The total amount raised for AlpInvest’s Secondaries strategy also includes $3.2 billion in co-investment commitments, as well as $2 billion for private wealth vehicles investing alongside ASP VIII, and represents a doubling of the firm’s investable capital in Secondaries investments over the predecessor program.

ASP VIII is a dedicated secondaries investment program focused on acquiring exposure to existing private equity assets by providing a range of liquidity solutions to both General Partners and Limited Partners — including the acquisition of fund interests, continuation funds, and other GP-Centered solutions. ASP VIII benefits from Carlyle AlpInvest’s integrated Secondaries and Portfolio Finance platform, which offers flexible, scalable solutions across the capital structure ranging from credit to equity.

More than 325 new and existing investors committed capital to ASP VIII, across institutional and wealth including insurance companies, public pension funds, corporate pension funds, financial institutions, asset managers, foundations, and family offices that originate from 50 countries spanning North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

“The secondaries market has entered a new era in recent years, evolving from a niche liquidity tool into a core pillar of the private equity ecosystem,” said Chris Perriello, Partner and Global Head of Secondaries at Carlyle AlpInvest. “ASP VIII is purpose-built for this moment. It reflects our conviction in the long-term opportunity ahead and the strength of our integrated global platform. Reaching the program’s hard cap is a testament to the trust our investors place in our team and our ability to deliver flexible, creative solutions to both LPs and GPs around the world.”

“The broad support from both longstanding partners and new investors in ASP VIII is a clear endorsement of Carlyle AlpInvest’s track record and platform. Their confidence underscores the enduring relationships we have built with our limited partners and highlights the role Carlyle AlpInvest plays as a trusted partner,” said Ruulke Bagijn, Head of Carlyle AlpInvest.

“This fundraise is not only a milestone for our secondaries strategy, but also a validation of the integrated platform we’ve built across Secondaries and Portfolio Finance,” added Michael Hacker, Partner and Global Head of Portfolio Finance at Carlyle AlpInvest. “With over $24 billion raised for liquidity solutions across our platform, we are well positioned to provide private equity sponsors and investors with a comprehensive toolkit of liquidity and capital solutions.  This scale and flexibility reflect the evolving needs of the market and the forward-looking strategy we’ve developed.”

Carlyle AlpInvest has committed more than $40 billion to more than 245 transactions across Secondaries and Portfolio Finance over the past 20 years and currently has a dedicated 60-person investment team based in New York, Amsterdam, London, and Hong Kong. In 2020, the firm’s seventh secondaries program raised $10.2 billion, including co-investment vehicles, exceeding its $8 billion target and also reaching its hard cap.

In addition, Carlyle AlpInvest recently raised over $4 billion for its Portfolio Finance strategies. Of this total, $3.2 billion was raised for AlpInvest Strategic Portfolio Finance Fund II (“ASPF II”), inclusive of parallel SMAs and co-investments. This brings total combined fundraising for Carlyle AlpInvest’s integrated Secondaries and Portfolio Finance platform to $24 billion.

About Carlyle AlpInvest
Carlyle AlpInvest is a leading global private equity investor with $97 billion of assets under management and more than 630 investors as of June 30, 2025. It has invested with over 385 private equity managers and committed over $113 billion across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. AlpInvest employs more than 265 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlylealpinvest.com.

 

Media Contacts

Brittany Bensaull
Phone: +1 212 813-4839
Brittany.Bensaull@carlyle.com

Isabelle Jeffrey
Phone: +1 (212) 332-6394
Isabelle.Jeffrey@carlyle.com

Categories: News

Tags:

Recall.ai: unlocking conversation and meeting data to power AI applications and agents

Bessemer

Bessemer Venture Partners leads Recall.ai’s $38M Series B to help teams capture and leverage conversational data at scale.

Conversations are arguably the world’s largest data set. Yet, the data and context that fuel today’s AI revolution are often relegated to what’s already documented or structured. Conversation data, on the other hand, just floats in the ether. But every strategy meeting, sales call, customer complaint, brainstorming session, doctor consult, and coffee chat holds something invaluable: context.

Agents and applications need context 

Conversation and meeting data offer vital context to supercharge AI agents and apps. Enter Recall.ai — the infrastructure that makes it effortless to capture and leverage this data at scale and in real time. The ability to gain insights from conversation data is enabling the emergence of new markets and products. This burgeoning ecosystem includes many of our portfolio companies, like Abridge, Rilla, and Avantos. Recall.ai underlies this trend, which is why we’re proud to lead the company’s $38M Series B round.

In every modern organization, meetings are where crucial context is shared, customer knowledge is exchanged, and decisions are made. Until now, accessing and scaling that flood of meeting data intelligently — across platforms, formats, and workflows — has been a challenge. Recall.ai solves this by providing a single, robust solution that abstracts the complexity.

One API, every platform

Recall.ai provides a unified API and developer platform for conversation intelligence. It powers meeting bots, captures and distills video, audio, and metadata across platforms, including Zoom, Microsoft Teams, Google Meet, Webex, Slack, Desktop, and more. Recall.ai handles it all — from unlimited concurrent Virtual Machine infrastructure to real-time transcripts, audio and video streams, and granular metadata, like speaker identification and screen sharing — all delivered securely.

As the infrastructure behind thousands of conversation intelligence products, processing many billions of minutes annually, Recall.ai is growing quickly across developers and enterprises. Leaders and innovators like HubSpot, DataDog, Calendly, Instacart, Charlie Health, Rippling, and ClickUp all rely on Recall.ai. The company has grown 12X in 2023 and 3X in 2024, and is on track for a record 2025, with recent launches including Desktop Recording SDK, Calendar Integration, and Storage and Playback, with a Mobile SDK in beta and other major releases coming soon.

Customers get up and running within hours instead of spending months building custom infrastructure and dedicating ongoing headcount to maintenance. Teams save 500+ developer hours of engineering time by offloading meeting data management to Recall.ai. This allows companies to ship fast and free up precious development resources.

Why we’re backing the team behind Recall.ai

The idea for Recall.ai stemmed from a problem that cofounders David Gu (CEO) and Amanda Zhu (COO) experienced firsthand while building their previous company, a real-time transcription tool for video conferences. They realized the bulk of their engineering team’s resources were consumed by building, scaling, and maintaining integrations with platforms.

Recognizing that this infrastructure challenge was plaguing others, David and Amanda launched Recall.ai in 2022. The small but mighty team is relentless in solving complex technical challenges and offering customers and developers robust, delightful, and dependable infrastructure. The team is also growing. Check out opportunities at Recall.ai here.

We’re excited to back this all-star team as it enables a growing ecosystem of innovative applications. If you’re building applications or agents that could be supercharged with context and need to access, analyze, or act on conversation data, try Recall.ai.

Categories: News

Tags:

KKR Appoints Former AWS CEO Adam Selipsky as Senior Technology and AI Strategy Advisor

KKR

Mr. Selipsky to advise on KKR’s $179B Real Assets platform as digital infrastructure retools for the AI era

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the appointment of Adam Selipsky, former Chief Executive Officer of Amazon Web Services (AWS), as a Senior Technology and AI Strategy Advisor to the firm. Mr. Selipsky, one of the most recognized leaders in cloud and enterprise technology, will help guide KKR’s global digital infrastructure platform as the firm accelerates investments in the next generation of AI, data centers and energy.

Mr. Selipsky has more than 20 years of executive leadership experience in scaling mission-critical internet infrastructure. At AWS, he helped build the platform from its startup origins into the world’s largest cloud business that powers thousands of leading companies globally and serves as the backbone of the modern digital economy. He previously held the role of CEO of Tableau, steering the data analytics company through its $15.7B acquisition by Salesforce and its successful transition to the cloud.

In his role at KKR, Mr. Selipsky will advise on strategy, capital allocation, and governance for the firm’s $179 billion Real Assets business, with a particular focus on the convergence of compute, data centers, fiber, and energy required to scale AI globally. He will work closely with KKR’s portfolio company CEOs and leadership teams to accelerate growth and strengthen platform value creation.

“AI is fundamentally rewiring the internet’s infrastructure—exposing new bottlenecks while creating once-in-a-generation opportunities. We believe this is a transformational moment for the sector. With AI driving unprecedented demand for compute and power, KKR is advancing a coordinated strategy that unites its data center, energy, and digital infrastructure investments into one platform purpose-built for hyperscalers and AI developers,” said Waldemar Szlezak, Partner and Global Head of Digital Infrastructure at KKR. “Adam’s appointment marks a pivotal step in that journey, and we’re thrilled to welcome him as we retool the world’s infrastructure for the AI era.”

Commenting on his appointment, Adam Selipsky said: “KKR has taken a visionary approach—integrating power, data centers, and connectivity to meet the demands of hyperscalers and AI developers alike. I’m excited to collaborate with Waldemar and the team to build on that foundation and position KKR as the world’s leading AI infrastructure investor.”

KKR has committed approximately $42 billion of equity into digital infrastructure across 23 investments, alongside more than $20 billion in power and renewables. The portfolio today spans five data center platforms across the U.S., APAC, and EMEA—totaling more than 155 facilities and a 15GW development pipeline—twelve fiber platforms reaching nearly 30 million homes, and over 130,000 wireless infrastructure sites across Europe and APAC. Recent milestones include the recapitalization of Metronet, a leading independent FTTH operator in the U.S.; an investment in Gulf Data Hub, one of the Middle East’s premier data center platforms; and the launch of a multi-billion-dollar co-located power and data center development in Bosque County, Texas, in partnership with CyrusOne and Calpine.

About Adam Selipsky

Adam Selipsky most recently served as the CEO of Amazon Web Services (AWS), the world’s most comprehensive and broadly adopted cloud platform. Mr. Selipsky helped launch AWS and grow it into a $100 billion revenue business. He previously led AWS marketing, sales, and support from 2005-2016. He was additionally responsible for Amazon’s global sustainability efforts. Prior to rejoining AWS in 2021, Mr. Selipsky was President and CEO of Tableau Software. He led Tableau through its acquisition by Salesforce, in what was the third largest software industry acquisition at the time, and the company’s pivot to cloud. Earlier in his career, Mr. Selipsky held senior leadership positions at RealNetworks and Mercer Management Consulting. Mr. Selipsky holds an AB in Government and an MBA from Harvard University. He currently serves on the board of directors of Circle Internet. Mr. Selipsky is on the HBS Board of Dean’s Advisors, served on the US Government AI Safety and Security Board, and is a member of the board of FIFA’s Seattle World Cup 2026.

About KKR

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

Media Contacts

Liidia Liuksila
212-750-8300
media@KKR.com

Source: KKR

 

Download PDF

Categories: People

Sphera Announces Significant Growth Investment From Neuberger Berman Capital Solutions

Blackstone

CHICAGO, IL and NEW YORK, NY – September 3, 2025 – Sphera, a leading provider of integrated operational risk management software and data (the “Company”), today announced that Neuberger Berman Capital Solutions (“NBCS”), on behalf of client funds, has agreed to make a significant growth investment in the Company. NBCS will join existing investor, private equity funds managed by Blackstone (“Blackstone”) – which will retain a majority stake in the Company – in supporting Sphera’s next phase of growth.

Through SaaS software and proprietary data, Sphera works with organizations around the world to help them surface, manage, and mitigate operational risks related to the environment, health, safety, and sustainability, including through the supply chain. The company serves more than 8,500 customers and one million users in 100 countries to help companies keep their people safe, their products sustainable, and their operations productive.

“We’re delighted to welcome Neuberger Berman Capital Solutions as a strategic partner alongside Blackstone,” said Sphera’s founding CEO and President Paul Marushka. “The additional support is a strong endorsement of our vision, our team and the value we’re delivering to our customers every day in helping them manage sustainability and operational risks. With this investment, we’ll accelerate innovation, expand our global reach and continue empowering organizations to navigate complexity and drive sustainable performance.”

“Sphera has long stood out as a differentiated, industry leading company providing critical operational risk software and solutions with demand that is supported by long-term trends, and driven by an exceptional management team that is executing with discipline and consistency,” said David Lyon, Head of Neuberger Berman Capital Solutions. “We are thrilled to make this investment and look forward to partnering with the management team and Blackstone as Sphera continues to provide a value-additive solution to its existing and future customer base,” added Nikhil Krishnan, Managing Director, Neuberger Berman.

“Sphera has achieved impressive growth and product innovation during our investment, cementing its industry leading position,” said Eli Nagler, Senior Managing Director, and Kelly Wannop, Managing Director, at Blackstone. “We are very pleased to continue our partnership, together with the management team and Neuberger Berman, in support of the Company’s continued expansion and development of innovative solutions for its customers moving forward.”

Terms of the investment were not disclosed. Evercore and William Blair served as financial advisors, and Simpson Thacher served as legal advisor to Blackstone and Sphera. Harris Williams served as financial advisor, and Latham & Watkins served as legal advisor to Neuberger Berman Capital Solutions.

About Sphera
Sphera is a leader in sustainability and operational risk management software, data and consulting services for the world’s most successful companies. Our solutions cover Environment, Health, Safety & Sustainability (EHS&S), Process Safety, Product Stewardship and Supply Chain Transparency. For more than 30 years, we have served over 8,500 customers and over a million users in 100 countries to help companies keep their people safe, their products sustainable and their operations productive.  Learn more about Sphera at www.sphera.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Neuberger Berman Capital Solutions
NB Capital Solutions provides bespoke capital solutions to private equity-owned companies, enabling sponsors and management teams to achieve long-term strategic objectives. NB Capital Solutions manages ~$10 billion in AUM and has made investments in over 100 companies across client funds. NB Capital Solutions led this investment alongside additional funds managed by Neuberger Berman Private Markets. Neuberger Private Markets is a division of Neuberger Berman and has been an active and successful private markets investor since 1987. Neuberger Private Markets invests across strategies, asset classes, and geographies for a large number of sophisticated and renowned institutions and individuals globally. As of June 30, 2025, Neuberger Private Markets manages over $140 billion of investor commitments across primaries, co-investments, secondaries, private credit, and specialty strategies. Neuberger Private Markets has an experienced and diverse team of over 450 professionals with a global presence across the United States, Europe, and Asia. For more information, please visit www.nbcapitalsolutions.com

Media Contact:

For Sphera:
 
Press@sphera.com

For Neuberger Berman:

Fiona Kehily
Fiona.kehily@nb.com

For Blackstone:

Jennifer Heath
Jennifer.Heath@blackstone.com

Categories: News

Tags:

Flexpoint Ford Announces Appointment of Steve Baranowski as Chief Financial Officer

Flexpoint Ford

Flexpoint Ford, a specialist private equity firm focused on financial services and complementary industries, including business and healthcare services, announced today that Steve Baranowski has joined the Firm as Chief Financial Officer, based in the Chicago office.

Mr. Baranowski joins Flexpoint from Adams Street Partners, where he most recently served as Partner and Head of Client Operations. In that role, he led a team of more than 50 professionals across investment accounting, middle office, tax, treasury operations, and performance reporting and analysis. Prior to joining Adams Street Partners, Mr. Baranowski served as a Tax Managing Director at KPMG, advising private equity, mutual funds, banking, and other investment fund clients. Mr. Baranowski holds an MBA from the University of Chicago Booth School of Business and a BBA from the University of Notre Dame.

“We are thrilled to welcome Steve to Flexpoint,” said Chris Ackerman, Managing Partner. “His deep expertise across operations, finance, and reporting will be instrumental in strengthening our fund administration infrastructure and advancing our mission to deliver growth and value to our investors and portfolio companies.”

“Steve’s leadership experience will be an asset to Flexpoint as we continue to grow,” added Don Edwards, Chief Executive Officer at Flexpoint. His ability to build strong teams and implement best-in-class processes will help ensure Flexpoint remains well-positioned for the future.”

“I am honored to join Flexpoint at such an exciting time in the Firm’s growth,” said Mr. Baranowski.  “I look forward to partnering with the leadership team to enhance our finance and operations capabilities and to support the continued success of our investors and portfolio companies.”

The Firm also announced that Steve Haworth, who has served as Chief Financial Officer since 2005, will continue in his role as Managing Director and assist Mr. Baranowski in his transition. Flexpoint is deeply grateful for his many contributions over the past two decades and is pleased that he will continue to provide leadership and guidance in the Firm’s next chapter.

Categories: People

Emerald leads $14M investment in Xampla, accelerating the replacement of single-use plastics

Emerald

CAMBRIDGE, UK – Emerald Technology Ventures, a global leader in climate-tech venture capital, has led a $14m of investment round in Xampla, a University of Cambridge spin-out that has created world-first natural materials from plant protein, to replace the world’s most polluting plastics. Other investors include BGF and Matterwave Ventures, and the funding will support more than ten billion units of single-use plastic replaced with Xampla’s Morro™ materials in the next five years, including plastic linings found in takeaway boxes, coffee cups and sachets.

Investors, including Neil Cameron of Emerald, and CEO Alexandra French of Xampla

Global plastic production is estimated to rise to a billion tonnes annually, and with less than 10% of plastic ever produced being recycled, there are now 8 billion tonnes of plastics and microplastics in our global environment. Xampla’s Morro materials offer a world-first natural polymer alternative. Made from abundant and natural plant protein feedstocks, including peas, rapeseed and sunflower, the materials are completely PFAS and plastic-free, and exempt from the European Union’s Single-Use Plastic Directive (SUPD).

Through partnerships with big names such as 2M Group of Companies, Huhtamaki and Transcend Packaging, Xampla has already replaced polluting coatings on boxes used by food delivery giant Just Eat Takeaway and Bunzl Catering Supplies. Unlike plastic, Morro™ Coating maintains the recyclability of cardboard without compromising on grease, oxygen and moisture barrier properties. The company’s Morro™ films, being commercialized through global partnerships, are soluble, giving them the potential to replace polluting plastic PVA films in dishwasher tablets and laundry pods.  They are also food-safe and can be used as edible replacements for packaging a wide range of single-serve products, from sweets to soups.

In addition, Xampla is working in partnership with leading FMCG brands and fragrance houses to deploy Morro™ materials in place of harmful plastic microencapsulates used to convey scents and active ingredients in homecare and beauty products.

Xampla’s Chief Executive, Alexandra French, said:

“This is a major vote of confidence for our revolutionary replacements for polluting plastics, and will see us expanding into Asia Pacific as well as growing in the UK and Europe. We have proven to investors and to brands that Morro™ materials are the real deal in making plastic a material of the past.  In just the next five years, Xampla will replace ten billion pieces of single-use plastic.  This is the technology industry has been crying out for. Our ambition now is nothing less than to see our products – proudly bearing their Morro marque – become the world’s go-to plastic replacement.”

Neil Cameron, Partner in Emerald’s sustainable packaging investment fund, added:

“Working with Xampla is part of our mission to turbocharge a revolution in innovative packaging. This technology hits the sweet spot I search for: a big solution to a big problem that can reap big rewards. And with its current global traction, there is huge potential to scale even further. The global barrier coatings market alone is set to be worth over $30bn by 2032, and that is just the beginning.”

Rowan Bird, Investor at the BGF, said:

“Xampla’s technology stands out as a truly scalable and practical alternative to plastic. Its patented, entirely natural and PFAS-free material is not only strong in performance but also drop-in ready for existing manufacturing lines, making it an attractive option for brands looking to adopt more sustainable solutions. We believe in the strength of the team, the quality of the product, and the positive role Xampla can play in helping reduce reliance on polluting plastics. We’re excited to support their continued growth as they bring this innovation to more partners and applications.”

Ines Kolmsee at Matterwave Ventures, added:

“Xampla’s mission fully aligns with ours: they are tackling a major sustainability issue with smart technology that can be used in existing manufacturing equipment, making it both easy to adopt and capital efficient. What really wowed us is their global team.  These are real experts, drawing on the best science from the University of Cambridge and elsewhere.  But this isn’t an academic exercise. They have got their product out of the lab and into the market.  It is a remarkable achievement and I know they will now go from strength to strength.”

For more information: www.xampla.com/morro-materials

More on Packaging and Materials at Emerald:

Shaping the Future of Packaging: Emerald’s Formed Fiber Sprint

Packaging and Materials

Emerald Invests in Cajo Technologies, Sustainable Laser Marking Leader

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm, founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with four current funds, hundreds of venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups.

This is Emerald.

Bold Ideas. Bright Future.  www.emerald.vc

CONTACT FOR EMERALD:

info@emerald.vc

About Xampla and Morro™ materials

Xampla is a materials innovation company unlocking the power of plants to create natural materials that change the world. Its range of world-first Morro materials are natural alternatives developed to address the plastic pollution crisis, and have been designed to eliminate the worldʼs most polluting plastics.

400 million tonnes of plastic waste produced every year globally according to figures from the  United Nations.. Morro™ materials re designed to leave nothing harmful behind.

Made from plants with no chemical modification, they are completely plastic-free, home compostable, fully biodegradable, and SUPD exempt. In scaling their Morro™ materials, Xampla has partnered with leading organisations including 2M Group of Companies, ELEMIS Skincare, Transcend Packaging, Just Eat and Gousto.

Find out more at www.xampla.com/morro-materials

Media contact:

Catherine Kitchen
Catherine@higginsonstrategy.com
+44 7763 671 844

Categories: News

Tags: