Category Archives: News

AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

Stonepeak

 

SINGAPORE & NEW YORK – November 3, 2023 – AGP Sustainable Real Assets (“AGP”), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets.

As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP’s portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data.  The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP’s mission to build real assets that enable a sustainable and net zero emissions future.

Ben Salmon, AGP Partner, commented: “This strategic investment represents a pivotal milestone in AGP’s journey. We are thrilled to be working with such a high caliber partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society’s evolving needs.”

Hajir Naghdy, Senior Managing Director at Stonepeak added: “We look forward to partnering closely with AGP’s management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP’s global energy transition portfolio, logistics and community housing platform in India, and data center joint venture with Stonepeak’s existing portfolio company, Digital Edge, are directly aligned with Stonepeak’s key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak’s Asia infrastructure strategy.”

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, added: “In Stonepeak we have found a unique like-minded partner able to support our energy transition mission across our entire footprint. We are excited to take AMPYR’s decarbonisation contribution to new heights alongside Stonepeak.”

The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.

Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.

About AGP Sustainable Real Assets

Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital.  AGP’s mandate is to promote real assets that generate positive impact for people and the environment, by focusing on ‘Sustainable Real Assets’: transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacenter capacity, and 20msqft of community housing. For more information, please visit  www.agpgroup.com and www.ampyrenergy.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 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 and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Contacts

AGP Sustainable Real Assets

CHIA Hui Kheng
Citigate Dewe Rogerson
huikheng.chia@citigatedewerogerson.com
+65 6589 2361

Stonepeak

Kate Beers / Maya Brounstein
Corporate Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100

 

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Main announces majority investment in LuxSci

Main Capital Partners

Main announces a majority investment in Lux Scientiae, Incorporated (‘LuxSci’), a leading provider of healthcare-focused secure communications and secure hosting solutions.

The investment reflects Main’s commitment to the healthcare market and desire to build robust, international software groups.

Founded in 1999, LuxSci is a leading American provider of HIPAA-compliant secure communications and secure hosting solutions. LuxSci’s application and infrastructure software enables organizations to securely deliver personalized sensitive data at scale. Certified by HITRUST to support customers with HIPAA compliance requirements, LuxSci serves dozens of healthcare enterprises and hundreds of middle-market organizations. Customers include providers, healthcare IT firms, medical device manufacturers, and companies active in other highly regulated industries. Notable customers include 1-800 Contacts, athenahealth, Beth Israel Lahey Health, and Delta Dental.

With the strategic support of Main, LuxSci will strengthen its market position and its capabilities to meet the complex needs of modern healthcare organizations. In addition to fostering organic growth in the North American market, LuxSci and Main will explore opportunities for strategic acquisitions to expand the product portfolio and accelerate internationalization.

Erik Kangas (PhD), Founder & CEO of LuxSci, expressed his enthusiasm for the partnership, stating: “Having led LuxSci through 23 profitable bootstrapped years, I am extremely excited to partner with Main. Their resources and expertise will enable us to expand our technology and deepen our market penetration at a time when the demand for high-security communications solutions has never been greater.”

Jeanne Fama (PhD, MBA), COO & CSO of LuxSci, adds: “We are excited about the partnership’s potential to increase the awareness and adoption of LuxSci’s communication solutions and potentiate their impact in healthcare organizations seeking to improve clinical and business outcomes and increase patient satisfaction and loyalty.”

Main has demonstrated strong performance in both the healthcare and security markets, evidenced by investments such as Enovation (connected care solutions with over 350 employees across Europe) and Pointsharp (security and identity access management software with over 200 employees in Northwestern Europe). Main will leverage its experience and network in these markets to support LuxSci in its continued growth.

Daan Visscher, Co-Head of Main Capital North America, concludes: “We are thrilled to partner with the LuxSci team in spearheading the company’s next phase of growth. We are impressed by LuxSci’s double-digit recurring revenue growth, the underlying product, the management team’s capabilities, and the unwavering commitment to customers. We see ample opportunities to drive value through honing operational excellence, accelerating organic growth, and executing select strategic acquisitions. The result will be a robust, international software group positioned to meet the evolving needs of healthcare organizations.”

We are thrilled to partner with the LuxSci team in spearheading the company’s next phase of growth.

– Daan Visscher, Co-Head of Main Capital North America at Main Capital Partners

About

LuxSci

  • Healthcare

LuxSci is a leading provider of highly scalable secure communications and secure hosting solutions. Certified by HITRUST, LuxSci helps organizations navigate complex HIPAA regulations and safeguard sensitive data. LuxSci serves nearly 2,000 customers across healthcare and other highly regulated industries.

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Apollo to Provide €1 Billion Capital Solution to Vonovia in Second Transaction

Apollo logo

NEW YORK, Nov. 03, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into agreements for Apollo-managed insurance affiliates, funds and other long-term investors to invest €1 billion into an entity owning a portfolio of high-quality real estate assets in Northern Germany controlled by Vonovia, a leading global residential real estate company with assets of approximately $100 billion. This commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.

Apollo Partner Jamshid Ehsani said, “We are pleased to broaden our partnership and provide another scaled capital solution to Vonovia by investing in a portfolio of high-quality, high-demand residential real estate assets creating attractive investment opportunities for our insurance platforms, funds and clients. This cost effective solution supports the capital plan of one of Europe’s leading real estate companies and demonstrates once more how Apollo is increasingly acting as a leading capital solutions provider to large global corporations active in many industry sectors, including Real Estate, Aviation, TMT, Consumer, Utilities, Transportation and Pharmaceuticals.”

For Apollo, the transaction will allow its insurance and institutional clients to access an attractive investment opportunity backed by high-quality assets with resilient cashflow characteristics. The Northern Germany portfolio includes approximately 31,000 high-occupancy units valued by Vonovia at €3.8 billion. Proceeds from the investment support Vonovia’s capital allocation plans, including repayment of certain of its financial liabilities.

Since 2022, under its high grade alpha strategy, Apollo originated approximately $30 billion of bespoke, capital solutions for leading global companies seeking to optimize and strengthen their balance sheets. Apollo believes it is uniquely positioned to serve the needs of large IG corporates and retirement services companies alike, given the firm’s structuring, investment and syndication capabilities and scaled, lower cost capital base.

The latest Vonovia portfolio investment is subject to the satisfaction of closing conditions, including regulatory clearances, and is expected to be completed by year-end. Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solutions provided structuring and syndication services in connection with the transaction. J.P. Morgan is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo 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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Source: Apollo Global Management, Inc.

Released November 3, 2023

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Apollo Infrastructure Funds Acquire Majority Stake in Modern Aviation

Apollo logo

Tiger Infrastructure Partners and Modern Aviation Management to Reinvest as Part of Transaction

NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO), Tiger Infrastructure Partners (“Tiger”) and Modern Aviation (the “Company” or “Modern”) today announced that they have entered into a definitive agreement for Apollo-managed infrastructure funds (the “Apollo Funds”) to acquire a majority stake in Modern Aviation, a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America. Tiger Infrastructure Partners, which currently owns Modern Aviation, and the Company’s management team will each reinvest alongside the Apollo Funds. Together, these investments will significantly bolster Modern Aviation’s shareholder base to support future strategic growth initiatives.

Founded in 2018, Modern Aviation has grown to become one of the preeminent national networks of premium FBO properties. The Company, led by CEO Mark Carmen and a highly experienced management team, operates a strategically curated portfolio of 16 sites today and serves a diversified customer base across various aviation segments.

Apollo Partner Dave Cohen said, “We are excited for Apollo funds to acquire Modern Aviation, working with Tiger, Mark and the entire team to support the business in its next phase of growth. Modern Aviation is known for its excellent client service and has built a strong infrastructure network with clear growth prospects across new and existing locations. We look forward to leveraging our deep experience investing in infrastructure and aviation assets to help the Company execute on its strategic plans.”

Modern Aviation CEO Mark Carmen said, “We are thrilled to be partnering with the Apollo team and we appreciate Tiger’s continued support as they have been with us since Modern was just an idea. Together, we are committed to executing Modern’s strategy of supporting our customers in a safe environment, investing in our 16 existing locations and growing our network. I’d like to thank all of our Modern Aviation team members, whose steadfast dedication to customer service and safety drive our success.”

Tiger Senior Managing Director Adam Emmert said: “We’ve been pleased to work collaboratively with the Modern management team for over six years. In the early years, the senior team co-located with us in our New York offices as we worked closely to launch the Modern platform. It has been rewarding for us to help Modern grow from a small team with a single location into one of the leaders in the U.S. FBO industry. We are excited to continue our productive collaboration with Mark, Dan, Emmanuel and the rest of the Modern team with our new partners at Apollo.”

The acquisition will be the latest investment for Apollo’s growing infrastructure franchise, which brings the scale, expertise and capital markets capabilities of Apollo’s investment platform to the middle market. The team focuses on mid-market businesses and assets, and key investment themes include the global energy transition, digital infrastructure, global supply chain and sustainable living. Across its platform, Apollo Funds and affiliated entities have deployed more than $12 billion into aviation industry investments.

The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close by year-end. Financial terms were not disclosed.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Winston & Strawn LLP and Lowenstein Sandler LLP acted as legal counsel and Harris Williams served as financial advisor to Tiger and Modern Aviation.

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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality, and industry leading safety. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com

Apollo 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

Tiger Infrastructure Partners Contacts
Nyssa Kourakos
NK Strategies
(917) 364-5531
nyssa@nkstrategies.com

Modern Aviation Contacts

Emmanuel Yapo
Executive Vice President
Modern Aviation
eyapo@modern-aviation.com


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Source: Apollo Global Management, Inc.

Released November 2, 2023

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819 Evergreen Fund I Coöperatief U.A. is live!

Recently we launched 819 Evergreen Fund I Coöperatief U.A. (“819 Evergreen Fund” or “the Fund”).

 

819 Evergreen Fund is incorporated to enable sustainable value creation in essential sectors, such as healthcare, by investing in key enabling technologies (deep tech).

The Fund’s predecessor is Lumana Invest. Since the transition to 819 Evergreen Fund last period, we have already welcomed our first new investors to the Fund.

819 Evergreen Fund has an open-ended structure. The Fund invests in start-ups and scale-ups and has a focus on minority interest. The Fund currently has 8 active portfolio investments.

The Fund is a collective investment undertaking (beleggingsinstelling) within the meaning of section 1:1 of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) (“FMSA”). The Fund and its Manager (819 Capital Partners) are registered with the AFM in accordance with section 2:66a of the FMSA (AFM Fund ID: 50033383).

Zuidbroek assisted in setting up the Fund.

Feel free to contact us for more information.

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Sunstone Life Science Ventures Fund IV invests in DiogenX, a biotech company developing a first-in-class regenerative treatment for type 1 diabetes

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Sunstone Life Science

Copenhagen, Denmark and Marseille, France, Oct 31, 2023 – Sunstone Life Science Ventures
(Sunstone), a leading European venture capital firm focused on life science therapeutics, today
announced that Sunstone’s Fund IV has invested in the Series A financing round of DiogenX now
increased to €33.5 million ($33.8M). In May, DiogenX, a biotech company focused on regenerating
insulin-producing beta cells for the treatment of diabetes, had announced its initial Series A financing
round.

DiogenX was founded in 2020 based on the groundbreaking research of Professor Patrick
Collombat, a world-renowned expert in pancreatic beta cell regeneration. The Company’s lead
program is a first-in-class recombinant protein that aims at replicating insulin-producing beta
cells in the pancreas. This novel approach has the potential to offer a disease-modifying therapy
for type 1 diabetes, a chronic and life-threatening condition that affects millions of people
worldwide.

In this Series A round, Sunstone LSV Fund IV joins lead investors Roche Venture Fund and
Boehringer Ingelheim Venture Fund (BIVF), alongside new investors Eli Lilly and Company and
Omnes and existing investors JDRF T1D Fund and AdBio partners. The funding will enable
DiogenX to advance its lead candidate towards clinical development.
“We are very impressed by the scientific achievements and the vision of DiogenX’s team. We
believe that their approach to regenerate beta cells has the potential to transform the treatment
landscape for type 1 diabetes and to improve the lives of millions of patients” said Claus
Andersson, General Partner at Sunstone and board member of DiogenX. “We are delighted to join
this strong syndicate of specialized investors and to support DiogenX in its next phase of growth.”
“Sunstone is a highly respected and experienced investor in the European biotech ecosystem.
We are thrilled to have them on board as we work towards the clinic with our lead program,” said
Benjamin Charles, co-founder and CEO of DiogenX. “We are grateful for the continued support
of our existing investors and the trust of our new investors. Together, we share a common vision
to bring innovative solutions for patients with type 1 diabetes.”

About Sunstone
Sunstone is an independent European venture capital investment firm founded in 2007.
Sunstone focuses on scientifically advanced assets, and invests to develop and expand preclinical stage life science companies with strong potential to achieve global success within their
therapeutic fields. Sunstone has invested in more than 50 companies and has completed more
than 23 successful exits and IPOs. Sunstone ranks among the most active European investors in
life science therapeutics. For more information, please visit sunstone.eu.

About DiogenX
DiogenX is a biotech company focused on regenerating insulin-producing beta cells for the
treatment of diabetes.
Founded in 2020 based on the research of leading type 1 (T1D) diabetes scientist Patrick
Collombat on pancreatic beta-cell regeneration, DiogenX is developing first-in-class
recombinant proteins designed for the treatment of T1D.
DiogenX’s lead program is focused on modulating the Wnt/β-catenin signalling pathway to
regenerate pancreatic insulin-producing beta cells to offer a disease-modifying therapy for type
1 diabetes. It is currently in preclinical development.
DiogenX is supported by a network of world-leading experts in diabetes and a consortium of
investors including diabetes and biopharma leaders Boehringer Ingelheim Venture Fund, Roche
Venture Fund, Eli Lilly and Company, Omnes, JDRF T1D Fund, Sunstone and AdBio partners. The
company founded by Patrick Collombat, Jean-Pascal Tranié and Benjamin Charles, is based in
Marseille, France, with research labs in Nice, France.
www.diogenx.com

Contact
Sunstone: Claus Andersson, PhD, General Partner, andersson@sunstone.eu, +45 22 70 50 65
DiogenX: Andrew Lloyd & Associates / SaƯiyah Khalique – Celine Gonzalez
saƯiyah@ala.associates / celine@ala.associates, UK: +44 1273 952 481, US: +1 203 724 595.
@ALA_Group

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Licensed-Fintech QI Tech Raises $200M Series B Led By General Atlantic, With Participation From Across Capital

With the goal of decentralizing credit from major banks, the fintech is pursuing strategic acquisitions and continued growth

São Paulo – October 31, 2023 – QI Tech, the first Direct Credit Company (SCD) approved by the Brazilian Central Bank, today announced an investment of US$200 million (R$1 billion) in a Series B round led by General Atlantic, a leading global investor, with participation from existing investor Across Capital, which is doubling its initial investment in the company. QI Tech plans to leverage the new capital to further expand its leading product position and explore strategic M&A opportunities.

Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech is transforming the credit market by simplifying the loan process, with a mission to decentralize credit away from major banks. QI Tech offers a comprehensive set of APIs that allows any business to offer financial products to its customers. The company’s “one-stop-shop” solution provides digital registration tools, data validation, credit scoring, digital account opening, wire transfers, Pix, bank slips, and credit underwriting for various sectors of the economy. To complete the range of services offered, QI Tech also holds a brokerage license (DTVM), used to structure, administer, and safeguard investment funds in credit rights (FIDC). The fintech holds a top-tier Fitch rating of A+ (bra).

“This new partnership lays the foundation for the size of the opportunity we are pursuing. We plan to use the new capital to strengthen our leadership position in Brazil, keeping an eye on potential local opportunities and executing an aggressive growth strategy for each business unit,” continued Pedro Mac Dowell, founder and CEO of QI Tech.

In 2021, after two years of operation, QI Tech raised a Series A round of US$50 million (R$270 million at the time), led by the Sovereign Investment Fund of Singapore (GIC). The company has been profitable since its first year of operation.

“QI Tech is a unique company; we have cutting-edge technology, solid fundamentals, and an experienced, ambitious team operating in a high-performance culture. We do everything with purpose, ensuring that our clients receive the highest level of support and our community gets the best product,” said Marcelo Bentivoglio, co-founder and CFO of QI Tech.

Luiz Ribeiro, Managing Director and Co-Head of the Brazil office at General Atlantic, added, “We have tracked QI Tech for several years and are impressed by the vision of the leadership team. By building native connectivity with the national financial system, as well as through a modular API, QI Tech has enabled the development of credit, payment, and banking solutions for a range of asset managers, corporates, and fintechs. As digital payments and credit adoption in Brazil continues to accelerate, QI Tech is capturing an exciting opportunity to power high-quality financial infrastructure for their customers. We look forward to supporting the company in its continued expansion.”

“In a world where fintechs continue to proliferate and companies want to offer financial solutions to their end customers, we create opportunities for these businesses to offer a complete range of financial products, increasing engagement with their customers and also creating new revenue streams,” Mac Dowell added.

QI Tech engaged J.P. Morgan as its leading placement agent, Vinci Partners as its financial advisor, and Freitas e Leite Advogados as its legal counsel.

About QI Tech

QI Tech is a one-stop-shop platform for financial, credit, banking, and anti-fraud services. With both SCD and DTVM licenses granted by the Brazilian Central Bank, it provides all the technological infrastructure for its clients and partners to monetize and engage their ecosystem of stakeholders. The company combines an intelligent platform with all regulatory compliance, so its clients can offer payment and credit services securely and in a way that best fits their business model.

About General Atlantic

General Atlantic is a leading global investor with more than four decades of experience providing capital and strategic support for over 500 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 more than $77 billion in assets under management inclusive of all products as of September 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

Media Contacts

Emily Japlon
General Atlanticmedia@generalatlantic.com

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Het Gastenhuis and Amvest team up to provide sustainable Gastenhuizen

NPM Capital

Het Gastenhuis and Amvest team up to provide sustainable Gastenhuizen

In partnership with property owner Amvest, Het Gastenhuis is realizing sustainable guest houses. Most of these houses are fully independent from natural gas and are equipped with solar panels and heat pumps. Only a few locations still remain connected to the gas network solely as a backup for the heat pumps. A few older buildings that have been converted to Gastenhuizen are currently also in the process of becoming more sustainable. Low energy consumption (low CO2 emissions) and a comfortable indoor climate are key aspects that are taking into account.

 

Furthermore, the Amvest Living & Care Fund, the developer and owner of het Gastenhuis, has been named the most sustainable healthcare real estate fund in Western Europe for the fourth time. The Global Real Estate Sustainability Benchmark (GRESB), the global standard for sustainability in real estate, announced this in October 2023.

 

With this Het Gastenhuis is working with Amvest to continue to build a more sustainable future.”

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DIF Capital Partners and EDF Invest to acquire leading Norwegian electric ferry operator Fjord1

DIF

Fjord1

DIF Capital Partners (via its DIF Infrastructure VII fund), and EDF Invest (the investment arm of the EDF Group in real assets) have entered into a definitive agreement to acquire Fjord1, the largest owner and operator of ferries in Norway.

The company will be acquired from Vision Ridge Partners, a global sustainable real assets investor, and Havila Holding, an investment company owned by the Sævik family in Norway. Vision Ridge and Havila Holding have been investors in Fjord1 since 2019 and 2011, respectively. Terms of the transaction were not disclosed.

Operating under long term concessions and with a fleet of 81 vessels, Fjord1 is Norway’s largest ferry operator and the nation’s leading owner and operator of electrified ferry transportation. Ferries are an integral part of the Norwegian transportation infrastructure, with the company serving approximately 50% of all Norwegian passengers and providing critical high-frequency boat services between the mainland and islands, as well as across fjords that facilitate commuting, leisure, tourism, and goods transportation across the country.

Gijs Voskuyl, Partner at DIF, says: “We’re very excited to invest in Fjord1, which is operating under a concession-based model, and which is a leader in delivering environmentally friendly and reliable ferry transportation in Norway. We look forward to working with our partner EDF Invest and the company’s management team to continue to invest in new vessels as Fjord1 continues to grow its electrified fleet to support the energy transition of the ferry industry.”

Alexandre Pieyre, Head of EDF Invest, adds: “EDF Invest is thrilled to invest in Norway and become a shareholder of Fjord1, a company at the forefront of innovation and decarbonization. Alongside our partner DIF and with an experienced management team, we look forward to supporting the company and its employees to pursue this low carbon strategy and to bring even more innovation to the transportation industry.”

Following the close of the transaction, which is expected in early 2024, Fjord1 will continue to be led by CEO Dagfinn Neteland, supported by his current team of over 1,000 employees.

“Management is pleased that the sales process has been completed, which has been a long and thorough process, where we experienced significant interest in the company from a number of parties. The management team is excited and looking forward to working with the new owners of the company and jointly build on the strong position that Fjord1 has in the market to make the company even stronger in the years ahead.” says Dagfinn Neteland, CEO of Fjord1.

Under Vision Ridge’s and Havila Holding’s ownership, the proportion of vessels within Fjord1’s fleet that operate on electricity has increased by over 50%. As a result, Fjord1’s operating fleet today is approximately 60% electric – the highest proportion in Norway – and comprises approximately half of all electric ferries currently operating in Norway, serving 44 routes across 16 contracts in the Norwegian market.

“Having been part of a transitional period for Fjord1, where the company has been at the forefront of implementing electric ferries, we are happy to have found a new owner for Fjord1 who can help develop the company further. The last tender win where Fjord1 is to deliver autonomous operations is a testament to the competence in the company. There is no doubt in my mind that Fjord1 will continue to be a world leader in zero emission transportation and operational excellence,” comments Vegard Sævik, Chairman of Fjord1 AS & Board of Director at Havila Holding.

“Since investing in Fjord1 in 2019, we have worked closely with Havila Holding to strategically scale the company’s operations and increase fleet electrification to help cement its position as the nation’s leading owner and operator of electrified ferry transportation. Vision Ridge is proud to have executed our mission of mobilizing capital to address climate change and the tremendous progress Fjord1 has made over the last five years as a result. We are confident that DIF and EDF Invest are the ideal partners to help further grow Fjord1’s market share of the Norwegian fleet sector and look forward to the company’s continued success,” concludes Reuben Munger, Managing Partner and Chief Investment Officer of Vision Ridge.

Rothschild & Co. served as financial advisor, and Ropes & Gray LLP and Schjødt served as legal advisors, to Vision Ridge and Havila Holding. DIF and EDF Invest are advised by Deutsche Bank and Cantor Fitzgerald (financial advisors), Jefferies and Cantor Fitzgerald (debt advisors), Wikborg Rein (legal advisor), Allen & Overy (legal advisor – financing), Roland Berger (commercial advisor), Arup (technical advisor), PWC (financial and tax advisor) and Deloitte (operational advisor).

 

Press contacts:

For DIF Capital Partners

press@dif.eu

For EDF Invest

jessica.goncalves@edf.fr

For Havila

Vegard Sævik

vegard@havila.no

For Vision Ridge Partners

Amanda Shpiner/Sara Widmann

Gasthalter & Co.

(212) 257-4170

Vision-Ridge@gasthalter.com

 

About Fjord1

Fjord1 is the leading floating bridge operator in Norway, providing critical high-frequency ferry and express boat services with a large fleet of modern and electric ferries. Since starting operations in 1858 in Florø, Fjord1 has extended its fleet to 81 vessels (including 39 electric projected as of end of year) and now operates 44 routes across 16 contracts. Revenues are underpinned by long-term availability-based contracts which have no volume risk and Fjord1 is leading the shift to zero-emission ferry connections. For more information, please visit: www.fjord1.no/eng.

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Deutsche Beteiligungs AG invests in ProMik: A commitment to enhancing efficiency in the electronics manufacturing industry

Deutsche_Beteiligungs_AG
  • ProMik is a leading global provider of programming and testing solutions for the electronics manufacturing industry
  • Demand for electronic components driven by increasing needs of consumers, industry and the mobility sector
  • Another smooth succession arrangement for a family-owned business

Frankfurt/Main, 31 October 2023. Deutsche Beteiligungs AG (DBAG) has decided to invest in ProMik Programmiersysteme für die Mikroelektronik GmbH (ProMik), a leading global provider of programming and testing solutions for series production in the electronics industry. A fund advised by DBAG will acquire the majority of the shares held by the founding family, and a subsequent reinvestment will see the family retain minority ownership. Alexander Rosenberger and Jens Rosenberger, members of the founding family, will stay with the company as CTO and CMO, respectively.

ProMik: a champion from Nuremberg serving a global market
ProMik was founded in Nuremberg in 1995. With over 5,000 successful projects completed during the course of its history and more than 60 employees, the family-owned business has evolved into a global leader for sophisticated software solutions. ProMik is serving a market boasting double-digit growth rates and covering a broad range of applications. This range includes the mobility sector, where ProMik is supporting clients in autonomous driving, energy management and electric vehicles. ProMik is also active in the consumer goods, e-bike and home appliances sectors. Industrial applications, along with solutions for electronic components manufacturing that allow clients to optimise their own testing and programming processes, complete ProMik’s profile.

“ProMik is active in a flourishing market. We are glad that our network allows us to access exciting investment opportunities like this one, with an excellent product portfolio and attractive potential. There is every reason to look forward to helping ProMik evolve”, said Jannick Hunecke, member of the Board of Management of Deutsche Beteiligungs AG. “We are seeing interesting opportunities for strategic acquisitions in this market. This is where we can leverage our extensive M&A experience.”

Winfried Rosenberger, founder of ProMik, commented: “We are looking forward to joining forces with DBAG, and there is excitement at the prospect of growing our portfolio together. We have invested three decades into ProMik. With DBAG at our side, we have found the ideal investor for our succession planning and can look ahead with confidence.”

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