Anchorage Digital Raises $350 Million in Series D Funding Round, Led by KKR

KKR

New round values premier digital asset platform at over $3 billion

SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ — Anchorage Digital (“Anchorage” or the “Company”), the premier digital asset platform for institutions, today announced it has closed a $350 million Series D funding round led by global investment firm KKR. Participants include Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, funds and accounts managed by BlackRock, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, PayPal Ventures, Senator Investment Group, Standard Investments, Thoma Bravo, and Wellington Management. This funding round values Anchorage at over $3 billion.

“As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point,” said Diogo Mónica, President and Co-Founder of Anchorage Digital, “This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market. We’re grateful that KKR and this wider group of investors shares our vision to expand regulated institutional access to digital assets.”

The first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC) in January 2021, Anchorage is making it safe and accessible for institutions to participate in the rapidly evolving digital asset space. Anchorage began as a custodian and has built a robust suite of additional services such as secure trading, financing, staking, and governance.

Anchorage Digital plans to use this latest funding to enhance its infrastructure solutions, specifically for global financial firms and fintech innovators. It will also invest to accelerate and simplify clients’ engagement with the latest in crypto innovation and increase the size of its team to continue to expand product offerings and grow its client base.

KKR is investing in Anchorage through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. This will be the firm’s first direct equity investment in a digital asset company.

“As a pioneer in enabling institutional investors to access digital assets, Anchorage has built a best in class, institutional grade digital asset platform that combines the best practices of both modern security and usability,” said Ben Pederson, Senior Leader on KKR’s Technology Growth Equity team. “We are thrilled to lead this Series D round and work with Diogo, Nathan and their talented team as they continue to support the institutional adoption of digital assets through their differentiated, regulated and integrated suite of solutions.”

“We are certain Anchorage will be a crucial part of the digital asset infrastructure and we are excited to be an investor,” said Oli Harris, Head of North America Digital Assets at Goldman Sachs.

Anchorage’s Series D funding follows a dynamic year of growth. Significant milestones include:

  • Receiving a federal banking charter from the OCC
  • Announcing an $80 million Series C round that was led by GIC and included Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico
  • Facilitating Visa’s purchase of one of the most popular series of NFTs, Cryptopunk #7610
  • Growing headcount by 175% to date in 2021
  • Business growth in excess of 800% for each of the past two years.

About Anchorage Digital

Anchorage Digital is the most advanced digital asset platform for investors. From custody and trading to staking, governance, and financing, Anchorage offers a full range of crypto-native financial solutions that are compliant, built to adapt to emerging blockchain use cases, and made to evolve alongside the needs of digital asset investors. Today, Anchorage serves many of the largest institutional investors and enterprise brands in the digital asset space.

Anchorage Digital Bank makes it simple and secure for institutions to gain exposure to digital assets as the first federally chartered digital asset bank. With secure custody at its core, Anchorage is the premier partner for institutions and corporations. Anchorage offers financial solutions for today and tomorrow. To learn more, please visit anchorage.com and on Twitter @Anchorage.

About KKR
KKR is a leading global investment firm that offers alternative asset management and 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 The 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 Contacts:

Anchorage:
Lexi Wangler
anchorage@dittopr.co

KKR:

Julia Kosygina or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Disclaimer

This press release is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.

SOURCE Anchorage Digital

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DIF Capital Partners reaches financial close on UK student accommodation PPP

DIF

DIF Capital Partners (“DIF”) is pleased to announce that it has reached financial close on the London School of Economics & Political Science student accommodation PPP located in London. The deal will be transacted through DIF Infrastructure V. DIF has a 80.1% stake in the project, with the university retaining the remaining 19.9% stake.

The project is a greenfield PPP that includes the design, build, financing, operations and maintenance of new student accommodation facilities that comprise 676 beds, communal spaces, a gym, three roof terraces, a cinema room and two courtyard gardens.

Design, build, operations and maintenance will be completed by Engie Regeneration, which is a subsidiary of Equans, a global contractor in the utility, industry and infrastructure sectors. Long-dated funding has been provided by Pension Insurance Corporation, which is a UK-based specialist insurer of defined benefit pension funds.

Gijs Voskuyl, Partner and Head of Investments for the DIF V and VI strategy, says: “DIF is excited to be growing its portfolio in the student accommodation sector. We look forward to partnering with a world-class university and to support it with its student accommodation delivery”.

Ian Spencer, LSE Director of Residential Services: “One of the priorities in LSE’s 2030 strategy is to Develop the LSE for Everyone. For Residential Services this means guaranteeing an offer of accommodation to all first-year students. The Glengall Rd development takes us a significant step towards that goal by providing 676 affordable rooms for our graduate students”.

QMPF provided the School with financial and commercial advice throughout the process, the School’s legal advisers, Pinsent Masons, provided legal advice and Student First Group advised on the design, build and operation of the new halls.

DIF was advised by DWPF (financial), Centrus (debt arranger), Mills & Reeve (legal), Grant Thornton (tax & accounting), Gleeds (technical) and JLL (commercial).

About DIF Capital Partners
DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

 

More information

Thijs Verburg, IR & BD

t.verburg@dif.eu

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Ratos-owned Speed Group acquires Dream Logistics’ 4PL operations

Ratos

The logistics and staffing company Speed Group, which is 70% owned by Ratos AB, has signed an agreement with Dream Logistics to acquire shares in the company’s subsidiary for transport management services, known as fourth-party logistics (4PL).

The company is based in Mölndal, Sweden and is expected to have sales of SEK 100m for 2022, with an EBITA margin of approximately 3%, which is in line with other 4PL providers. The agreement signed by Speed Group is for the acquisition of 80% of the shares in the company. The company’s Managing Director, Fredrik Krysén, will continue to own the remaining 20% of the shares.

 

“This acquisition is strategically important for Speed Group, since it helps expand the existing offering to include transport management services. This will strengthen the company’s position in both the short and long term. As an owner, we’re pleased with Speed Group’s positive development coming in the wake of the constantly growing demand for the company’s services,” says Christian Johansson Gebauer, Chairman of Speed Group and President Business Area Construction and Services, Ratos.

 

“Dream Logistics’ 4PL operations, led by Managing Director Fredrik Krysén, are a perfect complement to Speed Group’s service offering. The company’s expertise in logistics consulting, transport management and implementing effective and cost-efficient transport solutions means that we provide our customers with a more holistic approach in terms of sustainable, effective and complete logistics solutions,” says Mats Johnson, CEO of Speed Group.

 

 

For further information
Christian Johansson Gebauer
Chairman of the Board of Speed Group and President Business Area Construction and Services, Ratos
+46 8 700 17 00
Mats Johnson
CEO, Speed Group
+46 73 367 75 45

 

 

About Speed Group
Speed Group is a corporate group based in Borås, Sweden that offers innovative and sustainable solutions to complex logistics and staffing challenges. The company is one of the Nordic region’s leading third-party logistics (3PL) providers, with effective automation solutions and nearly 200,000 square metres of warehouse space in Borås, Gothenburg and Stockholm. At 30 September, rolling 12-month sales for Speed Group amounted to SEK 945m and the EBITA margin was 11%.

 

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 36 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

 

 


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Arsenal and Seal For Life Announce Acquisitions of Mascoat and Verdia

Arsenal Capital Partners

December 17, 2021

New York, NY- Arsenal Capital Partners (“Arsenal”), a private equity firm that specializes in investments in industrial growth companies, announced today that its global industrial coatings platform, Seal For Life Industries (“Seal For Life”), has acquired Mascoat Ltd. (“Mascoat”) and Verdia, Inc. (“Verdia”), both privately owned specialty industrial coatings companies.

Mascoat, based out of Houston, TX, has been a leading manufacturer of thermal insulation coatings, anti-condensation, and sound damping coatings since 1995. The company serves a wide variety of industries with its coatings such as industrial, marine, commercial, and automotive applications. Mascoat has helped to develop new ways to solve corrosion under insulation with its insulation coatings and pioneered the use of its sound damping and anti-condensation coatings to the commercial and yacht sectors. The company has locations in The Netherlands and China, in addition to its base in Houston.

George More, President, CEO, and Founder of Mascoat, said, “We are delighted to become part of the Seal For Life platform. The combination of Mascoat’s industry-leading insulation and protective coatings with Seal For Life’s extensive coatings portfolio and global footprint will allow us to reach additional markets and customers, and will provide customers even more high-performance solutions to protect their critical infrastructure assets.”

Verdia is a leading polymer flooring manufacturer in the United States with deep expertise in polyurethane concrete flooring systems and offers a complete line of epoxies, polyurethane, and polyaspartics formulations. Inc. Magazine recognized Verdia as one of the Fastest Growing Companies in America for 2019. Verdia has been awarded USDA certification for its bio-based polyurethane floor coating produced from renewable and sustainable polymer sources. Verdia provides superior products, unparalleled customer service, and industry-leading technical support and focuses on providing long-lasting and environmentally conscious polymer solutions. The company is based in Conroe, TX.

Tony Crowell, President, CEO, and Founder of Verdia, remarked, “Joining the Seal For Life platform provides Verdia with the critical mass and market access it needs to continue its remarkable growth trajectory. Our customers consider polymeric floor coatings as critical technology for protecting their high-value infrastructure assets, and we look forward to expanding applications of our highly sustainable products around the world.”

Jeff Oravitz, CEO of Seal For Life, remarked, “We are very pleased to welcome the Mascoat and Verdia teams to the Seal For Life family, and look forward to working with them to accomplish our vision of being the leading global provider of protective coating and sealing solutions for infrastructure markets. The incorporation of these highly specialized industrial coatings companies into the Seal For Life platform increases our global scale and the ability to meet the needs of our many global customers.”

Aaron Wolfe, an Investment Partner of Arsenal, said, “Mascoat and Verdia bring exceptional coatings technologies to the Seal for Life platform and have an excellent market reputation for providing the highest level of performance and quality to meet demanding customer requirements. These businesses provide highly complementary technologies and build further scale for Seal For Life. We look forward to supporting these teams and investing in inorganic growth and completing additional acquisitions to continue to build Seal For Life’s position in the broader protective coatings and sealing solutions space for infrastructure applications.”

About Seal For Life

Seal For Life provides corrosion prevention, waterproofing, fire and heat protection, and insulation products. The company offers industrial liquid coating products to protect critical infrastructure, heat shrink sleeves to protect pipeline joints from corrosion and degradation, cathodic protection products, visco-elastic adhesive solutions to protect assets from corrosion and water ingress; and cold-applied, single wrap and fused tape products. It offers products for many markets, such as marine, splash zone and underwater installation, renewable energy, onshore oil, gas, and water pipelines, insulation, casing filler, flooring, refinery, linings, cathodic protection, cables and wires, and waste water applications. Visit www.sealforlife.com for more information.

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Carlyle Enters into Definitive Agreement to Sell Sunsho Pharmaceutical Co., Ltd to Towa Pharmaceutical Co., Ltd.

Carlyle

Tokyo, Japan, December 17, 2021 – CJP SP Holding, L.P., an investment fund operated and managed by global investment firm Carlyle (NASDAQ: CG), signed an agreement to sell 100% of its investment in Sunsho Pharmaceutical Co., Ltd (“Sunsho Pharmaceutical”), a contract manufacturing company of health & nutrition (“H&N”) and pharmaceutical products, to Towa Pharmaceutical Co., Ltd. (“Towa Pharmaceutical”), a company specializing in research and development, production, and marketing of generic drugs. The transaction is expected to be completed in February of 2022.

Headquartered in Shizuoka, Sunsho Pharmaceutical is one of the largest contract manufacturers in Japan for soft capsules, seamless capsules, and other dosage forms for H&N and pharmaceutical use. The company focuses on producing absolute quality products and applies state-of-the-art contract manufacturing technology to create cutting-edge formulations and capsules.

CJP SP Holding, L.P. acquired a 100% stake in Sunsho Pharmaceutical in August of 2014 through Carlyle’s third Japan buyout fund, Carlyle Japan Partners III, having recognized the company’s strong growth potential as a contract manufacturer in a steadily growing H&N market in Japan. Carlyle also saw the potential for value creation with Sunsho Pharmaceutical and within the H&N market in Japan by leveraging its local team knowledge, global platform strengths and deep experience in the healthcare and consumer sectors.

Through Carlyle’s ownership, Sunsho Pharmaceutical strengthened its management structure and governance, initiated the launch of a new factory and research and development facility to enhance production capabilities, diversified its business portfolio to cater to new customers, and significantly increased its global revenues by bolstering and expanding its overseas business. Carlyle also worked closely with Sunsho Pharmaceutical’s management team to help drive innovation and co-create new value-add products and solutions with customers.

Carlyle will transition full ownership to Towa Pharmaceutical to support Sunsho Pharmaceutical’s next phase of growth.

Carlyle has made 31 investments in Japan since entering into the market in 2000 and this will be the 20th exit to date. Carlyle has a well-established history of investing in the healthcare sector, both in Japan and globally, investing more than US $14.7 billion of equity in over 80 deals in the global healthcare sector as of September 30, 2021. Healthcare investments in Japan include Qualicaps Co., Ltd., and Solasto Corporation.

***

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents.

Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Sunsho Pharmaceutical

Sunsho Pharmaceutical is a company that plans, develops, and conducts contract manufacturing of H&N and pharmaceutical products, being a leading player of the H&N market in Japan. Sunsho Pharmaceutical has full-line factories in Shizuoka and offers contract manufacturing and packaging of soft capsules, seamless capsules, and other dosage forms. In addition to its manufacturing capability and technology, Sunsho Pharmaceutical has top-class ability in R&D technology, sales force and quality control system. The company has various certificates including cGMP, GMP, and HACCP. The company was founded in 1993 and currently employs 690 individuals.

For more information, visit the company website at: https://www.sunsho.co.jp/en/

Media Contacts:

Carlyle
Lonna Leong
+852 9023 1157
lonna.leong@carlyle.com

Kekst CNC
Jochen Legewie / Minako Otani
+81 3 5156 0185 / +81 3 5156 0190
carlyle@kekstcnc.com

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Vera Therapeutics Announces Acquisition of Monoclonal Antibody From Pfizer to Treat BK Virus in Transplant Patients

Abingworth

Ongoing Phase 2 clinical trial for MAU868 in kidney transplant patients; potential first-in-class

MAU868 Phase 2 data for kidney transplant to readout mid-2022

BK Virus is a leading cause of transplant loss and transplant-associated morbidity

BRISBANE, Calif., Dec. 17, 2021 (GLOBE NEWSWIRE) — Vera Therapeutics, Inc. (Nasdaq: VERA), a clinical-stage biotechnology company focused on developing treatments for immunological diseases that improve patients’ lives, announced today that it has acquired MAU868, a first-in-class monoclonal antibody to treat BK Virus (BKV) infections, and has entered into a credit facility with Oxford Finance LLC (Oxford) to provide borrowing capacity up to $50 million. MAU868, acquired from Amplyx Pharmaceuticals, Inc., a wholly owned subsidiary of Pfizer Inc., has the potential to neutralize infection by blocking BKV virions from binding to host cells.

“BKV is a leading cause of kidney transplant loss and transplant-associated morbidity, and there are currently no available antiviral treatments in the U.S. We are excited to acquire MAU868 from Pfizer and carry it forward in development,” said Vera founder and CEO Marshall Fordyce, MD. “The acquisition of MAU868, a potentially transformative treatment for BKV, is consistent with our strategy to diversify our pipeline with new molecules that leverage our strengths and serve adjacent populations. We believe, based on currently available data, that MAU868 has the potential to significantly impact outcomes for kidney transplant patients and become the first effective therapy for BKV. We look forward to working with regulators to establish a new standard of care for kidney transplant patients.”

MAU868 is currently undergoing a randomized, double-blind, placebo-controlled Phase 2 clinical trial to assess the safety, pharmacokinetics, and efficacy for the treatment of BKV in kidney transplant patients. MAU868 has been shown in an interim analysis of week 12 data from Cohort 1 and 2 of a Phase 2 study to be well tolerated and showed a greater proportion of subjects with decrease in BK plasma viral load versus placebo. Full Cohort 1 and 2 interim analysis results will be submitted for presentation at a conference in mid-2022.

Up to 90 percent of healthy adults are infected with BKV, but it remains latent in kidney and bladder tissues. Reactivation occurs in the setting of immune suppression, and causes clinical disease in the transplant setting. BKV is a significant cause of complications in these immunocompromised patients, including in kidney transplant and hematopoietic stem cell transplant (HSCT) recipients. In kidney transplant recipients, BKV is a leading cause of allograft loss and poor outcomes, while in HSCT recipients, the virus significantly increases the risk of severe hemorrhagic cystitis, which causes bladder damage. There are currently no approved treatments for BKV in the U.S.

MAU868 Asset Acquisition
In partial consideration for the asset acquisition, Vera made an upfront payment of $5.0 million. In addition to the upfront payment, Vera is also obligated to make certain milestone payments in an aggregate amount of up to $7.0 million based on certain regulatory milestones. Further, Vera is required to pay Amplyx low single-digit percentage royalties based on net sales on a country-by-country and product-by-product basis. The rights to MAU868 that Vera acquired from Amplyx are subject to a license agreement by and between Amplyx and Novartis International Pharmaceutical AG, pursuant to which Vera is obligated to make certain milestone payments in an aggregate amount of up to $69.0 million based on certain clinical development, regulatory and sales milestones. Further, the Company is required to pay Novartis mid-to-high single-digit percentage royalties based on net sales on a country-by-country and product-by-product basis.

Credit Facility
Vera also announced today that they entered into a credit facility with Oxford Finance. Under the terms of the loan agreement, Oxford will provide Vera with borrowing capacity of up to $50 million. The initial $5 million funded at closing, and an additional $45 million will be available in minimum draws of $5 million, at Vera’s option through the end of 2022. The debt facility provides for at least 48-months of interest-only at close. There are no warrants or financial covenants associated with the credit facility. Armentum Partners served as the Company’s financial advisor on the debt financing.

About Vera
Vera Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera’s mission is to advance treatments that target the source of immunologic diseases in order to change the standard of care for patients. Vera’s lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B lymphocyte stimulator (BLyS) and a proliferation-inducing ligand (APRIL), which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases, including IgA nephropathy (IgAN), also known as Berger’s disease. Vera is also developing MAU868, a monoclonal antibody that neutralizes infection with BK Virus, a polyomavirus that can have devastating consequences in certain settings such as kidney transplant. For more information, please visit www.veratx.com.

Forward-looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the potential efficacy of our product candidates, research and clinical development plans, the scope, progress, and results of developing our product candidates, strategy, regulatory matters, including the timing and likelihood of success of obtaining drug approvals, market opportunity and our ability to complete certain milestones, the timing of the expected closing of the debt financing, and the expected use of the net proceeds therefrom. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plans,” “will,” “anticipates,” “goal,” “potential,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Vera’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period, risks and uncertainties associated with Vera’s business in general, the impact of the COVID-19 pandemic, and the other risks described in Vera’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Vera undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Contacts
Investor Contact:
IR@veratx.com

Media Contact:
Greig Communications, Inc.
Kathy Vincent
kathy@greigcommunications.com

 

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Red Eléctrica Group welcomes KKR as a long-term strategic partner in Reintel and strengthens its position in the telecommunications sector

KKR

Reintel is the leading dark fibre infrastructure operator in Spain with a network of over 52,000 km

  • KKR will acquire a significant minority stake in Reintel for EUR 971 million, implying an enterprise value of EUR 2.3 billion for the entire business (22.1x EV/2021E EBITDA).
  • Both shareholders are fully committed to long-term value creation for Reintel

 

Madrid, 16 December 2021 – The Board of Directors of Red Eléctrica Group has approved an agreement reached via its subsidiary Red Eléctrica Corporación with KKR, on the terms of an investment by KKR in Reintel, the leading dark fibre infrastructure operator in Spain. The transaction comes after a four-month sale process which attracted the interest of several infrastructure funds.

As part of the transaction, KKR will acquire a 49% stake in Reintel for a total of EUR 971 million. Red Eléctrica Group will continue to be the controlling shareholder and will retain accounting consolidation of Reintel.

The agreed transaction value represents an enterprise value of EUR 2.3 billion for 100% of the business, implying an EV/2021E EBITDA of 22.1 times, unlocking hidden value in Red Eléctrica Group and demonstrating Reintel’s leadership position in the Spanish dark fibre market.

Both shareholders are fully committed to creating long-term value for Reintel, underpinned by the company’s existing strong position in the dark fibre market and the deployment of resources by KKR to support its ongoing business and harness future growth opportunities.

  • KKR is making the investment in Reintel through its core infrastructure strategy which focuses on investing in high quality assets in developed OECD markets. This will afford long-term strategic support for Reintel.
  • KKR’s extensive experience investing in critical infrastructures in Spain and across the world will allow Reintel to accelerate growth by harnessing multiple business opportunities in the years ahead, such as the roll-out of 5G.

This transaction represents a key milestone in Red Eléctrica Group’s 2021-2025 Strategic Plan, which provides for the integration of partners into certain strategic assets to allow the Group to harness growth opportunities and optimise the capacity of its telecommunications businesses to generate value.

The transaction will enhance Red Eléctrica Group’s financial capacity with a view, among other objectives, to rolling out its 2021-2025 Strategic Plan, which is geared primarily towards driving the energy transition by developing the transmission grid infrastructure required in line with the 20212026 Plan.

Roberto García Merino, CEO of Red Eléctrica Group, said: “Following an extremely thorough research process, we are delighted to have reached an agreement with KKR, which will be a highly prestigious, long-term strategic partner to the Group going forward. This agreement clearly underscores the value of the Group’s telecommunications activity and will support its future development, reinforcing the essential services we provide to society.”

Oleg Shamovsky, Managing Director and Head of Core Infrastructure in Europe at KKR, commented:

“This is a very important strategic partnership for KKR alongside a highly respected blue chip

Spanish corporate. We have been following Reintel’s development for many years and are delighted to have the opportunity to invest in this critical telecommunications infrastructure company, and bring to bear KKR’s capabilities and experience in the sector as we strategically partner with Red Eléctrica”.

The transaction is subject to customary conditions including the applicable regulatory approvals and is expected to close in Q2 2022.

UBS and Barclays acted as financial advisors to Red Eléctrica Group and Garrigues as legal advisor.

About Reintel

Reintel is the leading dark fibre infrastructure operator in Spain. The company has been operating in the telecoms infrastructure business since 1997 and was incorporated by GRE as a separate entity in 2015. The company commercialises a >52,000km network and sites along Red Eléctrica de España’s electricity transmission network as well as Adif AV’s fibre optic network. Reintel offers a full suite of wholesale dark fibre services to its customers, which include the main telecommunication operators and utilities in the Spanish market, among others.

About Red Eléctrica Group

Red Eléctrica Group is a holding company whose main business is the operation and management of electricity transmission lines. The group’s parent company is Red Eléctrica Corporación, a listed company owning several subsidiaries, Red Eléctrica de España being the Group’s main company. Red Eléctrica de España is the sole distributor and operator of the Spanish electricity grid and is responsible for the distribution of electricity and operation of the electricity grid in Spain. The company manages and operates over 49,000 km of high voltage lines with very high quality service levels. The Group also manages and leases telecommunications infrastructure through its subsidiaries Hispasat and Reintel.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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 Contacts

 

Red Eléctrica Group

Eva Santiago

eva.santiago@ree.es

M: +34 681 226 052

 

KKR

Javier Curtichs, Tinkle

jcurtichs@tinkle.es

T: +34 91 702 10 10 / M: +34 629 22 40 63

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Apollo Funds Complete Acquisition of Kem One Group

Kem One Positioned to Modernize Production in New Phase of Growth

NEW YORK and LYON, France, Dec. 17, 2021 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have completed the acquisition of Kem One Group (“Kem One” or the “Company”) from De Krassny GmbH. Kem One is a leading European producer of polyvinyl chloride (PVC), used mainly in construction, packaging and medical applications, as well as caustic soda. The Company operates eight industrial sites across France and Spain. The acquisition marks the beginning of an exciting new phase for Kem One, as the Company pursues its growth strategy and executes plans to modernize its production footprint.

“We are excited to support Kem One’s continued evolution, focused on serving Kem One’s customers, improving production reliability, and reducing Kem One’s environmental footprint. We look forward to working with Kem One’s management team and employees over the years to come,” said Sam Feinstein, partner at Apollo.

Frédéric Chalmin, CEO of Kem One, commented: “The success of this transaction is the work of all the employees, as Alain de Krassny, former Chairman of Kem One, has often emphasized. Now, together with Apollo, we will finalize our current industrial projects, such as the construction of the ethylene storage terminal and the conversion of the Fos-sur-Mer electrolysis plant. Apollo will work with us to implement other large-scale projects to accelerate Kem One’s growth, and we are confident Kem One will benefit from their extensive experience in the chemicals industry.”

With a long and highly successful track record in the chemicals sector, Apollo plans to leverage its knowledge and investment platform to support the Kem One team. Apollo-managed funds have completed 16 major chemicals transactions, including LyondellBasell, which was one of the most successful private equity investments of all time.

Frédéric Chalmin will continue as CEO of Kem One, reporting to the Board of Directors composed of several Apollo representatives as well as independent directors with industry expertise. James R. Voss has been appointed Chairman of the Board.

Kem One and Mr. de Krassny were advised by Evercore as sole strategic and financial advisor, and Orrick, Herrington & Sutcliffe LLP as legal advisor.

The Apollo Funds were advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and Bredin Prat SAS as legal advisors. Barclays, HSBC, and RBC Capital Markets served as financial advisors to the Apollo Funds in connection with the transaction.

About Kem One
KEM ONE is a leading European producer of PVC, caustic soda, and chlorinated derivatives. Its industrial footprint is primarily located in France (Saint-Fons, Balan, Saint-Auban, Berre, Lavéra, Fos-sur-Mer, Vauvert) and in Spain (Hernani). The company has nearly 1,400 employees, divided between its industrial sites, its R&D laboratories, its sales offices in Europe, and its head office in Lyon. The company is the leading French producer of low carbon hydrogen. To learn more, visit www.kemone.com

About Apollo
Apollo is a high-growth, global alternative asset manager. 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 business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, 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, 2021, Apollo had approximately $481 billion assets under management. To learn more, visit www.apollo.com.

Contacts:

Kem One
Delphine Lemarié,
responsable communication
(33) 7 85 85 00 79
delphine.lemarie@kemone.com

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

For Media:
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.

Categories: News

Milestone for Calliditas as FDA grants accelerated approval of TARPEYO™

December 16, 2021

Our portfolio company Calliditas Therapeutics reached a major milstone yesterday with its accelerated FDA approval of Tarpeyo™, a novel therapy indicated for patients with nephropathy. Industrifonden was the first institutional venture investor in Calliditas backing its mission to bring novel therapies to patients with high unmet needs in renal disease. This landmark achievement will bring a novel therapy in Tarpeyo™ to market in the US for a severe patient population with deterioration of kidney function, so called IgA nephrophaty. Calliditas Therapeutics listed successfully on NASDAQ Stockholm in 2018 and underwent a dual-listing on NASDAQ US in June 2020. We congratulate the entire Calliditas team lead by René Lucander and are glad to support our mission to back lifesciences companies bringing novel therapies to patients with severe health conditions and high unmet need for new therapies.

The press release from Calliditas Therapeutics can be read here.

/Patrik Sobocki, Investment Director, on behalf of the entire team at Industrifonden

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Maki.vc closes a new sustainability and deep tech-focused fund at EUR 100 million

Tesi

 

Helsinki-based venture capital investor Maki.vc has raised its second fund, sized at 100 million euros. Maki.vc Fund II will invest in seed-stage startups across Europe with a focus on sustainability and deep tech. Among others, investors include both Tesi and KRR IV fund-of-fund it manages. Tesi has also invested in the investor’s previous fund, Maki.vc Fund I.

“With Maki.vc, we are particularly intrigued by their open and enthusiastic approach to companies promoting deep tech and sustainability, as well as their courage to invest in these sectors. For instance, Maki.vc has invested in IQM, a company that develops quantum computers, and in Spinnova, which develops cellulose into raw material for the textile industry. Maki.vc’s portfolio companies create positive societal impact and that is why we wanted to invest in their new fund, too,” comments Investment Director Tapio Passinen.

Read more:

Blog post on the Maki.vc Fund II by Maki.vc 15.9.2021

Additional information:

Tapio Passinen, Investment Director, Fund Investments, Tesi
+358 40 840 3681
tapio.passinen@tesi.fi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with private co-investors, to create new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII

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