Category Archives: News

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

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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

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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.

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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

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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

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£10.2m investment in green materials innovation company Xampla

BGF

The funding from Emerald Technology Ventures, BGF and Matterwave Ventures will support Xampla’s mission to replace single-use plastics with plant-based alternatives.

3 September 2025
Xampla investors

A major injection of more than £10 million in private capital is set to accelerate UK materials innovation company Xampla’s mission to replace single-use plastics with alternatives made from plants.

The round has been led by Emerald Technology Ventures (which runs Europe’s first specialist, venture-backed investment fund targeting the full packaging lifecycle), alongside BGF and Munich-based Matterwave Ventures.

Over the next five years, the funding will see Xampla’s revolutionary Morro™ materials replace more than 10 billion units of the most polluting single-use plastic, including plastic linings found in takeaway boxes, coffee cups and sachets.

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.

Alexandra French, Chief Executive at Xampla, 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 10 billion pieces of single-use plastic. This is the technology the 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.”

Xampla’s Morro™ materials offer a world-first natural polymer alternative. Made from regenerative plant proteins, they are completely plastic-free, biodegradable and home compostable.

Xampla team developing Morro materials in the lab

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 also maintains the recyclability of cardboard without compromising on grease, oxygen and moisture barrier properties.

The company’s Morro™ films, being commercialised 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.

Xampla is also 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.

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).

Rowan Bird, Investor at BGF, commented: “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.”

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Adams Street Opens Office in Abu Dhabi

Adams Street

Leila Kaissi named to lead the firm’s GCC presence

CHICAGO, IL – September 3, 2025 – Adams Street Partners, LLC, a leading private markets investment management firm with more than $62 billion in assets under management (“Adams Street”), announced the opening of its Abu Dhabi office, the firm’s first presence in the Gulf Cooperation Council (“GCC”). The new office is in ADGM, one of the region’s most dynamic financial districts. Adams Street’s on-the-ground presence will enhance the firm’s long-standing relationships across the GCC and support its growing investors and strategic partners.

The office will be led by Leila Kaissi, who has joined the firm as a Principal, Investor Relations. Kaissi will focus on developing and deepening institutional client and consultant relationships throughout the GCC. She will also work closely with clients in the management of their portfolios and aid in the development and monitoring of their private equity programs.

“The opening of our Abu Dhabi office is another milestone for Adams Street and a natural progression of our global expansion. Having a local presence marks our commitment to further developing strategic and long-standing partnerships in the region,” said Jeffrey Diehl, Managing Partner & Head of Investments at Adams Street.

“I am excited to lead Adams Street’s efforts in the Gulf,” commented Leila Kaissi, Principal, Investor Relations and head of the Abu Dhabi office. “GCC investors are eager to access investments in global venture capital, growth equity, buyout and private credit markets. Adams Street has a long and successful history delivering innovative investment opportunities in these areas. I look forward to building on the strong demand in the region and deepening our existing relationships.”

“I am delighted to have Leila at Adams Street to expand and build on all the work that we’ve done so far in the region,” added John Kremer, Partner & Head of Investor Relations (EMEA). “The GCC is strategically important to Adams Street’s global business objectives and a presence there will allow us to better serve our existing clients, strengthen client relationships, and capitalize on significant opportunities to match our ambitions in the region.”

Arvind Ramamurthy, Chief Market Development Officer at ADGM said, “The decision by leading international firms like Adams Street to establish offices in Abu Dhabi speaks of the tremendous opportunities that the UAE’s capital offers. As the richest city globally, Abu Dhabi is strategically positioned to attract world-class businesses in the asset management sector, and ADGM is proud to support its positioning. We are pleased to welcome Adams Street to ADGM’s vibrant and expanding ecosystem and look forward to seeing their growth strategy unfold in Abu Dhabi and the region.”

Prior to joining Adams Street, Leila was a Vice President at Gulf Capital where she was responsible for institutional investor relationships, including pension funds, sovereign wealth funds, corporates, and family offices in the GCC and across the globe. She also played an active role in the development of Gulf Capital’s investor relations strategy, managing co-investment opportunities, and overseeing investor due diligence.

About Adams Street Partners

Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has $62 billion in assets under management across primary, secondary, growth equity, credit, and co-investment strategies. Adams Street strives to generate actionable investment insights across market cycles by drawing on over 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Abu Dhabi, Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto. Visit www.adamsstreetpartners.com

Media Inquiries:
SEC Newgate
Daniela Gorini
daniela.gorini@secnewgate.ae
+971 (0) 58 129 3083

Ihab Youssef
ihab.youssef@secnewgate.ae
+971 (0) 55 768 4150

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Novacap Financial Services Completes its First Continuation Vehicle

Novacap

The new fund will support the growth of Revau, accelerating their strategic expansion into the U.S. market

Novacap, a leading North American private equity firm, today announced that its Financial Services team has successfully closed its first continuation vehicle transaction, and the fourth for Novacap, in Revau.

The continuation vehicle is led by a consortium including funds managed by Northleaf Capital Partners, Export Development Canada (EDC) and Fonds de solidarité FTQ, and includes participation from several key institutional investors such as Manulife Investment Management. The transaction involved the continuation vehicle acquiring an interest in Revau from Novacap Financial Services, along with certain other shareholders. The transaction offered existing Novacap limited partners the option to receive liquidity or rollover while providing Revau with access to additional capital.

The transaction follows Revau’s recent U.S. acquisitions of Brazos Specialty Risk Insurance and Twenty Mile Insurance Services, two U.S.-based Managing General Agents (MGAs) specializing in trucking and construction-focused liability solutions. These acquisitions mark Revau’s strategic entry into the U.S. market, substantially broadening its footprint across North America and positioning it for future growth plans in the U.S.

“This continuation vehicle represents an important milestone for Novacap Financial Services, reflecting the value created at Revau to date and our commitment to support Revau in its future endeavours,” said Marcel Larochelle, Managing Partner at Novacap. “Our partnership with Revau’s strong management team has transformed the company into a Canadian leader. We look forward to continuing our collaboration as Revau executes its strategic vision to build a leader in the specialty insurance market in North America.”

Revau, a Canadian market-leading, tech-enabled MGA, has seen transformative growth since Novacap’s initial investment in October 2020. The company has significantly expanded from a regional player into Canada’s largest independent MGA, diversified across more than 30 products and programs, and has successfully executed nine strategic acquisitions.

Jean-François Raymond, President and CEO of Revau, added, “Novacap’s continued commitment and additional capital support through the continuation vehicle will help fuel our projects for the next phase, enabling us to leverage powerful data analytics and AI capabilities and further expand our specialized insurance offerings. With our recent U.S. acquisitions, we are now well positioned to capture significant opportunities in the much larger U.S. market, enhancing our ability to deliver tailored products and value-added service to brokers, carriers, and insureds across North America.”

UBS Investment Bank acted as exclusive advisor for the continuation vehicle. Davies Ward Phillips & Vineberg LLP, Willkie Farr & Gallagher LLP, and Fasken Martineau DuMoulin LLP acted as legal counsel.

 

About Revau

Revau Advanced Underwriting Inc. is a leading Canadian Managing General Agent (MGA) specializing in property and casualty insurance. With a strong presence across Canada and an expanding footprint in the United States, Revau delivers tailored insurance solutions for specialized and niche risks through its national network of brokers. Headquartered in Quebec, with offices and teams located in Quebec, Ontario, the Maritimes, Manitoba, Alberta, British Columbia, Texas, and Florida, Revau combines deep industry expertise with a cutting-edge digital platform to simplify the commercial insurance process and deliver exceptional value to brokers and their clients.

For more information, please visit www.revau.com

About Novacap

Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$14 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

www.novacapcorp.comFor more information, please visit www.novacapcorp.com

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Aliter backed legal services group completes investment in Carter Bond

Aliter Capital

Deal supports scale-up strategy to create a UK leader with a national footprint

 

Aliter’s legal services portfolio company has completed its investment in commercial law firm Carter Bond for an undisclosed sum.

 

Carter Bond now becomes part of the existing group alongside BBS Law (BBS) which completed its investment from Aliter last year. The emerging group is rapidly growing to become a UK wide legal services provider, offering a full range of services to a customer base including high-growth, ambitious small-to-medium sized businesses, entrepreneurs and high-net-worth individuals.

North London based Carter Bond specialises in commercial and corporate law, with particular strengths in the healthcare sector. The firm has a consistent track record of impressive organic growth across the UK.

 

This transaction is a further investment in the Aliter-backed legal services group, since it completed the investment in BBS in October 2024.

 
Dov Black, Reena Popat and James Davies

Dov Black, Reena Popat and James Davies

Dov Black, Managing Partner and Head of Corporate, BBS said: “There is a great fit between BBS and Carter Bond, and we also believe strongly their arrival brings significant additional experience and resources to help us accelerate the next stage of the group’s development.”

 

Reena Popat, Managing Partner, Carter Bond, said, “After ten years of sustained organic growth at Carter Bond, this move comes at an ideal time. We are enthused about the opportunity to become part of this exciting journey to create a UK market leader and we look forward to realising the new opportunities it will bring for our clients and colleagues at Carter Bond.”

 

James Davies, Partner, Aliter Capital added: “Through our deep-seated knowledge and experience of the group’s main target markets, we will continue to support the continued drive for growth and provide access to capital for further expansion.”

 

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Advent to acquire Australiaʼs Automic Group

Advent

Sydney, 03 September, 2025 – Advent, a leading global private equity investor, today announced that it has signed a definitive agreement to acquire Automic Group (“Automicˮ). Automic is a market leading technology company delivering financial market infrastructure to serve the mission-critical needs of investors and issuers in Australia and New Zealand. Terms of the agreement were not disclosed.

Automic is a proven disruptor in registry, employee share plan, shareholder analytics and fund administration services, with a proprietary cloud-native platform that supports multiple services in one solution to deliver a smarter, more efficient offering to its clients. The company leverages technology to provide insight-led services supporting over 1,400 companies and funds across Australia and New Zealand, with technology designed to be portable and scalable into new markets. Over the past 5 years, Automic has been the top performing share registry for IPOs and listed transitions in Australia.

“We see strong alignment between Automic Group and Adventʼs investment philosophy. We have identified a high-quality business in one of Adventʼs key sectors: business and financial services. We are confident we can deliver significant value creation by applying our hands-on, in-market, and global operational expertise,” said Beau Dixon, Managing Director and Head of Australia and New Zealand at Advent. “We are pleased to be making our first acquisition since opening Adventʼs Sydney office, and we look forward to working closely with Automic Groupʼs management team to support its next phase of growth.ˮ

“We are excited to be partnering with Advent, leveraging their global best practice and industry knowledge, long track record of value creation to deliver continued growth, and market leading solutions to our customers,ˮ said David Raper, CEO of Automic Group.
Hayden Neeland, Director at Advent, added, “Automic Group is a proven industry disruptor with a robust cloud-native technology platform that is scalable with significant growth opportunities ahead. We are excited by the companyʼs demonstrated track record of customer acquisition and ability to innovate, launch, and grow new products.ˮ

Advent has strong global investing experience in the business and financial services sector, with more than 95 investments made across 25 countries over the past 30+ years. Since 2008, Advent has invested more than USD $6.6 billion in 17 fintech companies worldwide. The Automic transaction continues Adventʼs efforts to pursue business opportunities in Asia Pacific and embed its local know-how alongside its global network and operating expertise in the region, which includes significant investments in India and China.

This transaction builds on Adventʼs existing Australian investments including luxury fashion brand ZIMMERMANN, Transaction Services Group (now part of Xplor Technologies), a leading provider of business management software and integrated payments solutions, as well as its investment in Ultra Electronics, a leading defence, aerospace and technology company with operations in Australia.

The transaction is expected to close by the end of 2025, subject to customary regulatory approvals.

About Advent

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $100 billion in assets under management* and have made 435 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 675+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of June 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About Automic Group

Automic Group is a leading provider of registry and fund administration services across Australia and New Zealand. The Group was founded in 2014 by Paul Williams and now serves more than 1,400 companies and funds. Automic combines innovative technology with a client-focused approach to enhance service quality, strengthen data security and support organisations as they scale.

Media Contacts

Peter Folland
Vice President, Advent
pfolland@adventinternational.co.uk

For Australia and New Zealand:
Katherine Kim
katherine.kim@teneo.com
+61 2 9063 5119

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