Category Archives: News

CapMan Special Situations invests in Aro Systems

Capman

CapMan Special Situations press release
23 December 2022 at 09:15 EET

CapMan Special Situations invests in Aro Systems

CapMan Special Situations invests in Aro Systems, a building technology services contractor. The objective is to develop the company as a frontrunner for energy efficient solutions in new development and renovations.

Aro Systems is one of the leading electrical and HVAC project service contractors and technical building service and maintenance providers in Finland. Founded in 1954, the company has successfully expanded under Aro family ownership. Aro Systems employs close to 350 professionals in the field of building technology in the Helsinki metropolitan area as well as in the Tampere and Oulu regions. In addition to installation services for demanding projects, the company delivers solutions that improve energy efficiency.

CapMan Special Situations fund becomes the majority owner in Aro Systems following this arrangement, while Aro Yhtiöt maintains significant ownership. In conjunction, a new Board of Directors will be established with Panu Routila, advisor for the CapMan Special Situations fund, to step up as Chairperson of the Board. Mika Huovinen will continue as the company’s CEO.

“The building technology market is growing and undergoing rapid transition. Aro Systems is well-positioned as a sustainable service provider and one of the frontrunners in energy efficient solutions. This transaction enables the acceleration in growth of the company’s maintenance service business as well as further development of contracting service processes,” says Antti Uusitalo, Partner at CapMan Special Situations.

“The involvement of CapMan supports our company’s profitable growth and development and is excellent news for our customers, employees and the business overall. Customer focus, service quality and an entrepreneurial spirit have guided us for almost 70 years. In the past few years, we have undertaken a rigorous renewal of the company. Together with the expertise provided by CapMan, we can accelerate the company’s profitable growth and improve its competitiveness,” says Paavo Aro, the Chairperson of Aro Yhtiöt.

The investment in Aro Systems is the fourth of the CapMan Special Situations fund.

The completion of this transaction is subject to approval by the Finnish Competition and Consumer Authority.

For more information, please contact:

Antti Uusitalo, Partner, CapMan Special Situations, +358 40 020 2663

About CapMan Special Situations

CapMan Special Situations pursues event-driven investment situations by providing flexible capital solutions and strong operational capability to deliver step-change performance improvements.

CapMan Special Situations is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and approx. €5 billion in assets under management. Our objective is to pro,vide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Aro Systems

Aro Systems Oy is one of the leading providers of building technology expertise and services with close to 70 years of experience. Together with close to 350 professionals, the company is building a better environment for living and working. The company’s services encompass the entire life cycle of properties and building technology services in new construction and renovation projects. The company is established in the Helsinki metropolitan area as well as the Tampere and Oulu regions.

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Ardian acquires Milan office building in Via Vespucci 2, Porta Nuova district

Ardian

22 December 2022 Real Estate Italy, MILAN

The building will be transformed to meet Grade A Green+ and Net Zero Energy standards in line with Ardian Real Estate’s team commitment to ESG

Ardian, a world-leading private investment house, has finalized the acquisition of a Milan-based office building from a real estate fund managed by InvestiRE Sgr S.p.A. (Banca Finnat Group) through a co-investment vehicle with Primonial REIM France.

The property is located on Amerigo Vespucci 2 street in the heart of Milan’s Porta Nuova district. The building consists of approximately 12,300 sqm of floor space across for a total of 11 floors – of which nine are above ground.

The property is mainly vacant and will benefit from a major investment and redevelopment plan to transform it into a Grade A Green+ building. This certification is one of the highest sustainability rankings available for minimizing consumption and emissions. As part of the redevelopment, it will also become a Net Zero Energy Building.

“Ardian will invest heavily in transforming this property through a ‘Build-to-Green+’ strategy. As part of the development, we will work in accordance with the terms of the Paris Agreement to minimize CO2 emissions during construction and over the building’s lifetime. We have already launched a design competition inviting some of the most prestigious international studios to submit plans for the building. Our goal is regenerate an important part of the city by creating an attractive place to live for the local community and turning this iconic building into a pioneering example of sustainable redevelopment. “ Matteo Minardi, Managing Director, Ardian

” Even in a difficult geopolitical and macroeconomic climate, Ardian is continuing to invest in strategically located assets in the Italian real estate market. As a result of the Covid-19 pandemic and amid the energy transition, we have seen a shift in demand towards higher quality assets aligned to international ESG standards. Ardian’s strategy is to respond to this market trend by delivering high-performing and sustainable assets.” Rodolfo Petrosino, Senior Managing Director, Ardian

Advisor

  • Ardian

    • Legal: Ashurst
    • Fiscal: 5Lex
    • Administrative law: Gattai, Minoli, Partners
    • Technical aspects: Yard Reeas, General Planning
    • Notary office: Milano Notai
    • Commercial due diligence: JLL

  • Seller

    • InvestiRE SGR S.p.A

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 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 and family offices worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1000+ employees, spread across 15 offices in Europe, the Americas and Asia, 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.

www.ardian.com

Press contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com  

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Tredence Raises $175 Mn in Series B Funding from Advent International

Advent International

The funding from Advent International will help Tredence build on growth momentum, strengthen vertical capabilities, and reach a broader customer base

SAN JOSE | BOSTON | BANGALORE | MUMBAI – December 22, 2022 – Tredence, the Data Science and AI Solutions company, today announced it has raised USD 175 million in Series B funding from Advent International (“Advent”) to accelerate data-fueled growth and AI value realization for industries. Advent is one of the largest and most experienced global private equity investors. The full financial terms of the agreement have not been disclosed.

Advent will acquire a minority stake in Tredence with the $175 million investment. Advent has significant investment experience in the technology services and software sectors. Recent IT and information services investments include Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.

The existing investor Chicago Pacific Founders (“CPF”), a leading private equity firm, will continue to be a meaningful shareholder in Tredence. CPF made its initial investment in Tredence in December 2020.

Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, Tredence aims to bridge the gap between insight delivery and value realization, providing customers with a differentiated approach to data and analytics through tailor-made solutions.

Advent, alongside Tredence’s co-founders and CPF, will work with the company through continued investment in vertical and domain expertise, IP and accelerator repository, channel partner development, and operational excellence. The partnership will help drive Tredence’s vision to become the world’s most indispensable data and analytics partner. As a part of the transaction, Advent will be joining the Tredence board.

“We are thrilled to welcome Advent as a partner to Tredence,” said Tredence CEO Shub Bhowmick. “Advent’s global reach, deep sector expertise, and vast experience in scaling businesses like ours through organic and inorganic growth will be invaluable to us as we look to drive continued business innovation. Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation. CPF has been a value-added partner over the last few years, and we are excited to be joined by Advent on this journey.”

“Data analytics is an exciting segment within digital IT services with secular growth. The practice is fueled by the rise in data created and captured globally, the reduced cost of compute and storage, and the opportunity for enterprises to tap into valuable insights to drive competitive advantage,” said Shweta Jalan, Managing Partner at Advent International in India. “Tredence has built the business with deep domain expertise that positions it well to become a category-defining leader in the space. We are very excited to partner with Tredence in the next chapter of growth as they build a $500M revenue organization.”

“Tredence is leading the way in designing data analytics strategies, uncovering actionable insights, and implementing outcomes-based AI engagement models for clients,” said Mary Tolan, Founder & Managing Partner, Chicago Pacific Founders. “Through its portfolio of AI/ML solutions, the company has led the charge for world-class data transformation initiatives for enterprises across industries. We remain confident in Tredence’s ability to deliver long-term financial results for its shareholders.”

In 2021, the company devised a vertical AI go-to-market strategy that combines deep data science expertise with business context to solve daunting industry problems. The company’s vertical AI strategy will focus on ATOM.AI, an integrated accelerator ecosystem that guides enterprises from design to experience to value.

About Tredence Inc.

Tredence is a global data science solutions provider focused on solving the last mile problem in AI. The ‘last mile’ is the gap between insight creation and value realization. Headquartered in San Jose, the company embraces a vertical-first approach and an outcome-driven mindset to help clients win and accelerate value realization from their analytics investments. Tredence is 1,800-plus employees strong with offices in San Jose, Foster City, Chicago, London, Toronto, and Bangalore, with the largest companies in retail, CPG, hi-tech, telecom, healthcare, travel, and industrials as clients.

For more information, please visit www.tredence.com and follow us on LinkedIn.

 

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 400 private equity investments across 41 countries, and as of September 30, 2022, had $89 billion in assets under management. With 14 offices in 12 countries, Advent has established a globally integrated team of over 285 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.

For more information, please visit www.adventinternational.com and follow Advent on LinkedIn.

 

About Chicago Pacific Founders

Based in Chicago and San Francisco, Chicago Pacific Founders (“CPF”) is a leading healthcare private equity firm focused on investing in growth companies within value-based care, healthcare services, AI and tech enabled services, and providing for aging populations. CPF’s leadership team is made up of former healthcare founders, entrepreneurs, and investment professionals with a passion and track record of building high quality businesses.

For more information, please visit http://www.cpfounders.com and follow CPF on LinkedIn

 

Media contacts

India
Sivaram K
Tredence Inc.
Tel: +91 99860 70780
Sivaram.k@tredence.com

US
Sophia Templin
FGS Global
US PR Contact for Advent
Tel: +1 646 805 2000
Adventinternational-US@fgsglobal.com

Joanne Hogue
Smart Connections PR
US PR Contact for Tredence
Tel: +1 860 941 7065
joanne@smartconnectionspr.com

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First acquisition in Germany for Equistone portfolio company: Andra Tech Group strengthens its position through acquisition of metal precision components specialist Mayer Feintechnik

Equistone

Andra Tech Group (“ATG”), a leading group of companies focused on the manufacture of precision mechanical components, is making its first acquisition in Germany under Equistone’s ownership. With the majority acquisition of Mayer Feintechnik GmbH, the Dutch company is further expanding its portfolio and laying the groundwork for continued growth in the highly attractive German market. Former Mayer Feintechnik shareholder and CEO Frank Neuschulz, who sold his majority stake as part of the transaction, will reinvest in ATG.

Since its foundation in 1973, Andra Tech Group (formerly Kusters Beheer) has grown into a leading group in manufacturing high-tech precision parts and modules. Headquartered in the Netherlands, its five companies and c. 350 highly qualified employees serve an international customer base focused primarily on the semiconductor market and aerospace, transport, packaging, food and medical industries. In addition to developing and producing high-tech prototypes and small to medium-sized precision components, the group combines a high level of expertise in processing complex metals, plastics and composites with state-of-the-art technologies (including 3D metal printing and cleanroom assembly systems).

Based in Göttingen, Germany, Mayer Feintechnik has been a specialist in precision metalworking for over 50 years. The business is an established partner for the development and manufacture of high-complexity precision parts, systems or components in small and medium-sized batches. Mayer Feintechnik serves a broad range of customers across a number of high-tech sectors, including optics, lasers, medtech and semiconductors, acting as a reliable partner from project definition and conception to engineering, production and assembly. The company currently employs c.120 experienced, highly qualified people.

This acquisition makes Mayer Feintechnik the sixth company and first German business to join the fast-growing Andra Tech Group. As a result of the transaction, Mayer Feintechnik will be well placed to meet the increasing customer demand for its products and supporting processes, such as cleanroom services. Both companies will also share expertise and focus on maximising operational synergies through capacity utilisation and joint machine and material procurement.

“Mayer Feintechnik is now an important member of this fast-growing, leading group of companies. We look forward to starting a new chapter in our history together with Andra Tech Group and Equistone,” said Frank Neuschulz, previous shareholder and CEO of Mayer Feintechnik.

Geert Ketelaars, CEO of Andra Tech Group: “We are looking forward to working together with the employees and management of Mayer Feintechnik to support and grow the business and our customers. Mayer Feintechnik’s strong foothold in Germany is an important first step in the realisation of our ambition to grow the Andra Tech Group internationally.”

“With Mayer Feintechnik, Andra Tech Group has gained another highly professional partner. The acquisition not only accelerates ATG’s market entry in Germany but also creates a platform to support further acquisitions and geographical expansion in this highly attractive customer market,” said Philipp Gauß, Investment Manager in Equistone’s Munich office.

Hubert van Wolfswinkel, Dr Marc Arens and Philipp Gauß led the transaction on Equistone’s behalf. Equistone was advised on the transaction by De Angelis and Allen & Overy (Legal), PwC (FDD & Tax) and Livingstone (M&A).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

Munich, Zurich, Amsterdam

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

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CapMan Real Estate acquires a centrally located office property in Oslo, Norway

Capman

CapMan Real Estate acquires a centrally located office property in Oslo, Norway

The CapMan Nordic Real Estate III Fund (CMNRE III) has agreed to acquire Sørkedalsveien 6, an office property located in Majorstuen, Oslo city centre from Entra. The property, immediately located in the second largest public transport hub in the area, has altogether 19,300 m2 of space spread over 18 floors above ground and two below. CapMan Real Estate aims to modernise the building focusing amongst other things on improving its energy efficiency and targeting a BREEAM in-use Excellent or Outstanding rating.

Sørkedalsveien 6, is a prime office property located in Majorstuen, Oslo. The iconic property consists of approximately 17,200 m2 office, 1,300 m2 retail and 900 m2 storage space distributed across 18 floors above ground and two underground floors. It also has 70 parking spaces in the basement.

Majorstuen is the second largest public transport hub in the area with around 12 million annual commuters. The nearest subway station and several bus and tramlines are only a two-minute walk away from Sørkedalsveien 6 and a new subway line connecting Majorstuen all the way to Fornebu, a growing residential area, will start running in 2029 and further increase the asset’s connectivity.

Currently, the building is fully let to KPMG and Power Norge AS. The building serves as KPMG’s Norwegian headquarters since its construction in 2001. KPMG are expected to vacate the property at the latest in June 2026.

CapMan Real Estate plans to modernise the office and retail spaces, improving their energy efficiency and overall tenant attractiveness. The property is currently certified BREEAM In-Use Very Good. CapMan Real Estate is targeting a BREEAM in-use Excellent or BREEAM in-use Outstanding rating through its ambitious ESG investment plan.

”We look forward to developing this asset, creating a modern and attractive office space answering future tenants needs. The area is expected to become even more connected going forward and I see excellent potential for this iconic asset,” shares Magnus Berglund, Partner, Head of CapMan Real Estate Sweden and Norway.

The EUR 564 million CapMan Nordic Real Estate III Fund was established in 2020 and invests primarily in office, retail, and residential real estate in the Nordic regions.

CapMan Real Estate currently manages approximately EUR 4.5 billion in real estate assets and the Real Estate Team comprises over 65 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Magnus Berglund, Partner, Head of CapMan Real Estate Sweden and Norway, magnus.berglund@capman.com, +46 707 866 808

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We have been listed on the Nasdaq Helsinki since 2001. Read more at www.capman.com.  

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CVC Credit closes €400 million for eighth Performing Credit vehicle of 2022

CVC Capital Partners

CVC Credit is pleased to announce that it has successfully closed the Cordatus Opportunity Loan Fund, a long-term financing facility structured similarly to a Collateralised Loan Obligation (CLO), with expected purchasing capacity of c.€400m notional of leveraged credit. To date the fund has ramped c.€175m of assets at an average price of 91.9%.

The fund was raised in partnership with Royal Bank of Canada and a strategic third-party investor, and will increase the aggregate value of new assets raised in 2022 across the CVC Credit CLO Platform to nearly €3.6bn (c.$3.8bn), despite volatile market conditions.

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EQT Infrastructure combines ferry companies Molslinjen and Torghatten to form pan-Nordic operator of “floating bridges”

eqt

EQT Infrastructure to launch Nordic Ferry Infrastructure (“NFI”) through the combination of Molslinjen and Torghatten, creating a pan-Nordic operator of “floating bridges” with a well-diversified portfolio of over 65 routes and 16m passengers annually

Nordic Ferry Infrastructure

Molslinjen and Torghatten will continue to operate independently under their existing brands, and Carsten Jensen, currently serving as CEO Molslinjen, is appointed CEO of NFI

EQT Infrastructure will continue to invest significantly in the decarbonization and electrifcation of NFI’s combined ferry fleet to reach long-term targets towards net zero emissions

The leading Danish and Norwegian ferry transportation companies Molslinjen and Torghatten were acquired by EQT Infrastructure in February and March 2021 respectively. The companies provide essential transportation services in their respective regions, linking major population centers, islands to mainland, and coastal communities, creating a Nordic route network of floating bridges.

The combination of Molslinjen and Torghatten forms Nordic Ferry Infrastructure, a pan-Nordic ferry operator with a well-diversified portfolio of over 65 routes operated by over 100 vessels and transporting over 16 million passengers annually. Molslinjen and Torghatten will continue to operate independently under their existing names and brands, but with close collaboration through selected centralized functions and with a group executive management team. NFI will be headquartered in Oslo, Norway, and Carsten Jensen, currently CEO of Molslinjen, will be appointed new group CEO.

Carl Sjölund, Partner within EQT Infrastructure’s Investment Advisory team, said, “Combining Molslinjen and Torghatten will allow us to accelerate platform-wide digitalization efforts and facilitate the roll-out of new commercial and operational excellence initiatives. As we are now embarking on the next phase on this exciting journey, EQT Infrastructure is proud to invest in the continued decarbonization of the companies’ fleets to further reduce the environmental footprint of ferry transportation across the Nordic seas”.

The launch of NFI comes just weeks after the add-on acquisition of ForSea, an operator of electrified ferries between Helsingborg and Helsingør, across the strait of Öresund, which will add seven million transported passengers, annually.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

 

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General Atlantic Closes Inaugural Climate Solutions Fund

General Atlantic

More than $800 million already invested across five companies that are combating climate change at scale

New York – December 20, 2022 – General Atlantic, a leading global growth equity firm, today announced the final close of its inaugural BeyondNetZero fund. Following the fund’s close, General Atlantic has a total of approximately $3.5 billion in capital to invest in climate solutions.

BeyondNetZero’s first fund brings together capital from investors at the forefront of climate investing, including several strategic investors, sovereign wealth funds, family offices, multinational corporations and global institutional investors. The BeyondNetZero fund is structured as a companion fund investing in climate growth equity companies alongside General Atlantic’s core global growth equity program. General Atlantic’s core program will generally contribute 25% of capital to each climate investment that meets this mandate.

“We believe strongly in the power of technology to accelerate the transition to net zero,” said Bill Ford, Chairman and Chief Executive Officer of General Atlantic. “We look forward to supporting passionate entrepreneurs who are delivering innovative climate solutions while creating durable growth businesses.”

General Atlantic launched BeyondNetZero in July 2021 as the firm’s dedicated climate investment effort, designed to capture the rapidly growing opportunity for growth equity in the climate space. The initiative combines the industrial expertise, investing experience and network of a seasoned team with the growth equity capabilities and global reach of General Atlantic to provide a unique offering to climate entrepreneurs and investors alike.

“We are encouraged and energized to see the strong investor demand for our growth equity investment strategy focused on climate solutions” added Graves Tompkins, Global Head of Capital Partnering at General Atlantic. “We are grateful for our partnerships with family, institutional and corporate investors who share our commitment to addressing climate change. As we continue to invest in high-quality climate companies, we look forward to bringing key insights to bear for General Atlantic’s broader portfolio and investor community.”

“As world leaders, policymakers and the investment community acknowledged at COP27, the fight against climate change will be won or lost this decade – on our watch. The climate solutions we are seeking to scale are an important part of the systemic transformation required to mitigate the global threat of climate change,” commented Lord John Browne of Madingley, Chairman of BeyondNetZero. “As we reach this key milestone for BeyondNetZero, we are doubling down on our commitment to accelerate the technologies at the forefront of delivering verifiable emissions reductions across the global economy.”

Since the fund’s launch, the BeyondNetZero team has focused on identifying innovative growth companies with the potential to meet and exceed net zero emissions targets. BeyondNetZero has deployed $826 million in five companies with the technological, engineering and operational capabilities to go beyond net zero by helping their customers – whether they’re individuals, small businesses or multinational corporations – to reduce their emissions. These investments include:

  • 80 Acres Farms, a sustainable vertical farming company.
  • RoadRunner Recycling, a technology-enabled marketplace for commercial recycling and waste removal.
  • o9 Solutions, a SaaS provider that helps companies streamline their supply chains, improving efficiencies and reducing carbon footprints across industry verticals.
  • Sun King, the largest provider of solar energy products for off-grid homes in Africa and Asia.
  • EcoVadis, a leading provider of globally trusted business sustainability ratings.

“In the next three years alone, 90% of the carbon abatement needed could come from technologies that are currently mature or in the early stages of adoption1 – which means there will be a very significant opportunity for growth equity to support and scale high-quality climate solutions in the years ahead,” said Lance Uggla, Chief Executive Officer of BeyondNetZero. “I am immensely proud of what the BeyondNetZero team has achieved since launch, and I look forward to capturing our fast-growing opportunity set.”

BeyondNetZero has chosen to operate as an Article 9 Fund, defined under the EU’s Sustainable Finance Disclosure Regulation as “a Fund that has sustainable investment… or a reduction in carbon emissions as its objective.” In line with Article 9 Fund requirements, BeyondNetZero is fully focused on investments that aim to accelerate the net zero transition and holds itself to a high standard of ESG commitment and transparency.

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented General Atlantic in connection with the formation and closing of its BeyondNetZero fund.

About BeyondNetZero
BeyondNetZero is the climate fund of General Atlantic, a leading global growth equity firm. BeyondNetZero invests in growth companies delivering innovative climate solutions that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. This venture combines General Atlantic’s growth equity experience and global network with a team of experienced climate investors, advisors and industry executives who bring decades of experience in both addressing climate-focused problems and building pioneering growth companies. For more information on BeyondNetZero, please visit: https://beyond-net-zero.com.

About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has over $73 billion in assets under management inclusive of all products as of September 30, 2022, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

Media
Casey Gunkel
media@generalatlantic.com

[1] https://www.mckinsey.com/business-functions/sustainability/our-insights/navigating-americas-net-zero-frontier-a-guide-for-business-leaders?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top

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EQT Infrastructure to acquire Madison Energy Investments, a leading integrated US solar distributed generation platform

eqt
  • Transaction builds on EQT’s thematic investment strategy in the renewable energy space, adding a leading integrated renewable distributed generation platform that is a key contributor to the broader energy transition by providing solar and storage energy solutions
  • EQT Infrastructure to support MEI’s next phase of growth by providing ample access to growth capital to drive increased deployment of distributed solar and storage assets, leveraging in-house digital expertise to further optimize the organization, and expanding MEI’s reach across a broader customer base

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to acquire Madison Energy Investments (“MEI”) from affiliates of Stonepeak Partners LP (“Stonepeak”).

Founded in 2019 and headquartered in Vienna, VA, MEI is a leading developer, owner, and operator of distributed solar and energy storage projects for commercial and industrial (“C&I”) and community-based (“community”) customers within the US. Since inception, MEI has built a leading portfolio of more than 386MW across the US. The MEI management team brings deep sector knowledge within distributed generation with more than 50 years of combined experience in acquiring, constructing, financing, and operating assets, having deployed more than 800MW across ~500 projects.

Spurred by customer demand and federal/state policy tailwinds, the distributed renewable generation industry continues to experience rapid growth and is a key facilitator of the broader energy transition. MEI’s on-site and proximate distributed energy projects address critical energy supply issues by delivering significant cost savings vs. retail electricity prices and enabling avoidance of transmission constraints for its customers. MEI’s innovative energy solutions are a key driver of C&I and community customers achieving their energy resiliency goals, which is essential for the global energy transition.

EQT Infrastructure will support the MEI management team and platform by providing access to growth capital to accelerate the deployment of distributed solar and storage assets, offering EQT’s in-house digital expertise to further digitize the organization, and expanding MEI’s reach across a broader customer base.

Alex Darden, Partner and Head of EQT’s US Infrastructure platform, said, “EQT Infrastructure has followed the renewable distributed generation market and MEI closely for several years given the strong thematic tailwinds supporting the sector, prior EQT experience in solar development and operation, and MEI’s strong position as a leading integrated platform in the US. The renewable generation sector is an increasingly important part of the energy transition, and we are excited to partner with the MEI team as they build on their strong track record and continue to provide solar and storage energy solutions that are not only better for the environment, but also have tangible cost savings for their customers.”

Richard Walsh, Managing Partner of MEI, said, “We are looking forward to partnering with EQT’s US infrastructure platform. EQT’s team, experience and growth mindset make them the ideal partner to amplify our business in achieving new heights in clean energy. This is an exciting chapter we call ‘MEI 2.0’ – a transformative time in the industry with strong policy tailwinds, compelling economics for our customers and ever-increasing demand for resiliency and ESG solutions. Our focus remains on our customers and our partners to lead them through this critical energy transition. We could not be more excited to lean into the EQT portfolio and accelerate that mission.”

The transaction is subject to customary conditions and approvals and is expected to close in Q1 2023. With the acquisition of MEI, EQT Infrastructure VI (target fund size of EUR 20.0 billion) will be 0-5 percent invested based on its target fund size. The agreement to acquire MEI is the first transaction signed by EQT Infrastructure VI, which means that the fund has been activated and started charging management fees. EQT Infrastructure V is expected to be 80-85 percent invested following recent acquisitions (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) and continues to be in its commitment period but management fees will, following activation of EQT Infrastructure VI, be based on net invested capital.

EQT Infrastructure was advised by Barclays (financial) and Simpson, Thatcher, & Bartlett LLP (legal).

Contact
US media inquiries: Stephanie Greengarten, stephanie.greengarten@eqtpartners.com, +1 646-687-6810
International media inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

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

About MEI
Madison Energy Investments develops, constructs, owns, and operates distributed generation assets within the commercial and industrial (C&I) and small utility-scale sectors. The team’s diverse experience has produced best practices across all phases of the industry from origination to asset management. Quality partnerships and the ‘execution mindset’ drives MEI to be the best team in the industry.

More info: www.madisonei.com

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $51.7 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London, and Sydney.

More info: www.stonepeak.com

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KKR to Acquire Bushu Pharmaceuticals

KKR

TOKYO & SAITAMA, Japan–(BUSINESS WIRE)– KKR, a leading global investment firm, and Bushu Pharmaceuticals Ltd. (“Bushu Pharma” or the “Company”) today announced the signing of definitive agreements under which KKR will acquire all shares in Bushu Pharma from BPEA EQT. Following the transaction’s completion, KKR aims to accelerate Bushu Pharma’s growth and further position the Company as a leading contract development and manufacturing organization (“CDMO”) for the pharmaceuticals market in Japan and worldwide.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221219005856/en/

Founded in 1998, Bushu Pharma is a leading pure-play pharmaceutical CDMO based in Japan, which is the third-largest pharmaceutical market in the world. The Company is committed to producing, processing and delivering high-quality healthcare products to patients spanning categories including pharmaceuticals – such as oral solid dosages and injectables – and clinical trial materials. The Company additionally applies advanced quality control processes and supply chain management support for the inspection, packaging and distribution of pharmaceutical products. Bushu Pharma has Good Manufacturing Practice (“GMP”) certifications globally, and manufacture products for worldwide end-markets, with a particular focus on Japan and Asian countries, such as China.

Following the transaction’s close, KKR plans to work alongside Bushu Pharma’s management team to expand into new and growing segments, such as injectables, invest in further capacity expansion and quality control, and explore organic and inorganic opportunities for growth to deliver more healthcare solutions to patients.

Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and Chief Executive Officer of KKR Japan, said, “We are proud to invest in the growth and success of Bushu Pharma, a premier manufacturer for pharmaceutical businesses. We see significant demand for strategic and reliable solutions to address a range of challenges facing the global healthcare industry. By leveraging KKR’s deep experience in healthcare, tech, and supply chain solutions, we aim to help Bushu Pharma to further scale its best-in-class business and to drive growth and technical innovation that will ultimately benefit patients in Japan and around the world.”

Tadao Takano, Chief Operating Officer and President of Bushu Pharma, said, “Bushu Pharma is pleased to welcome KKR as a new shareholder able to advance our company’s mission to deliver high-quality pharmaceutical products and solutions to patients in Japan and around the world. KKR brings to Bushu Pharma its deep knowledge of the pharmaceutical industry, its experience supporting global businesses in the sector, and its extensive investment experience in Japan. We look forward to working with the KKR team to pursue further growth opportunities, and thank BPEA EQT for their partnership with us these recent years.”

KKR is making its investment from one of KKR’s Asia-focused investment funds. The transaction is expected to be completed in Q1 2023, subject to customary approvals and closing conditions. Further details of the investment have not been disclosed.

About Bushu Pharmaceuticals Ltd.

Bushu Pharma was established in August 1998 as an independent pharmaceutical contract manufacturer. Bushu Pharma carries out pharmaceutical drug product contract manufacturing and packaging of clinical trials and commercial products in accordance with the latest GMP standards. Through the utilization of know-how and the latest industry information, Bushu Pharma prides itself in being able to offer added-value solutions to customers. For more information, visit www.bushu-pharma.com/en/.

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 and on Twitter @KKR_Co.

Media

For Bushu Pharmaceuticals
Corporate Planning
+81 49 233 4651

For KKR:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com
or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

FGS Global (for KKR Japan)
Sam Brustad, +81 703853 3284
Deborah Hayden, +81 702492 0463
KKR-TYO@fgsglobal.com

Source: KKR

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