Category Archives: News

Ratos advances streamlining strategy

Ratos

Ratos is, as previously announced, streamlining the company towards fewer business segments. Following the successful public listing of the construction group Sentia (SNTIA) on the Oslo Børs June 13 and the divestment of airteam, a leading supplier of technical ventilation solutions, during the second quarter of 2025, Ratos has taken several decisive steps to streamline the company and enhance long-term value creation.

The transactions represent a divestment of Ratos’ Construction Services segment, a key milestone in Ratos’ strategy of focusing on business segments with long-term profitable growth, strong margins and returns as well as lower volatility, predominantly in infrastructure- and industrial product solutions segments. The reallocation of capital and management attention towards these prioritized segments will strengthen Ratos’ position in sectors where it sees the greatest opportunity to deliver long-term shareholder value.

Following the transactions, Ratos’s EBITA margin is expected to improve by approximately +200 basis points. However, the Group’s leverage ratio (net debt/EBITDA) will be adversely impacted, primarily due to Sentia’s strong cash position — a net of proceeds of approximately SEK 1.5 billion and cash of approximately SEK 2.9 billion. Sentia’s net cash position is largely driven by customer prepayments for major construction projects.

It is important to note that Ratos’ current ownership stake in Sentia is valued at approximately SEK 2.2 billion. Should the stake be divested, the Group’s leverage would improve significantly, from a pro forma level of 1.7x following the transaction, to approximately 0.6x.

Impact on main financial metrics from airteam-divestment and Sentia-listing

As reported After transactions
MSEK FY 2024 airteam Sentia FY 2024 Change
Net sales 32,125 1,714 10,354 20,057 -38%
EBITA adjusted 2,329 160 569 1,790* -23%
EBITA % adjusted 7.2 9.3 5.5 8.9 +170bps
All below excl. IFRS16 and items affecting comparability (IAC)/adjustments
Net debt 2,815 -1,053 +1,434 3,196 +14%
EBITDA adjusted 2,389 161 576 1,842* -23%
Leverage (Net debt/EBITDA) 1.2x 1.7x** +0.5x

*Including profit contribution from ~40% stake in Sentia
**Leverage at 0.6x if stake in Sentia is divested (share price assumed at ~57 NOK (2025-06-17))

For more information, please contact:
Anna Vilogorac, CFO & Investor Relations
+46 70 616 50 19, anna.vilogorac@ratos.com

Katarina Grönwall, VP Communications & Sustainability
+46 70 300 35 38, katarina.gronwall@ratos.com

About Ratos
Ratos is a Swedish publicly listed business group consisting of 14 companies across three business areas: Construction & Services, Industry and Consumer. The Group operates mainly in the Nordic region, with net sales of SEK 32 billion and an adjusted EBITA of SEK 2.3 billion in 2024, and with a total workforce of around 10,900 employees. Ratos is headquartered in Stockholm, Sweden.

We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger.

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Accel-KKR Receives Minority Equity Investment from PACT Capital Partners

AKKR Logo

MENLO PARK, Calif., June 18, 2025— Accel-KKR, a software and technology-focused private equity firm, today announced that PACT Capital Partners, a middle-market focused GP stakes investment firm, has made a minority equity investment in the firm.

Proceeds from the PACT investment will be used primarily to increase Accel-KKR’s capital commitments to the firm’s current investment strategies and support the firm’s continued growth. None of the capital being invested by PACT as part of this transaction is being distributed to the principals of Accel-KKR.

Tom Barnds and Rob Palumbo, co-Managing Partners of Accel-KKR, said, “This investment by PACT will accelerate our achievement of our strategic goals, and we are excited to extend our relationship with Christian von Schimmelmann, who has been a friend to Accel-KKR for many years. We look forward to leveraging PACT’s relationships and value-added capabilities through their imPACT team.”

“The principals of Accel-KKR are already the largest investors across our capital base, providing strong alignment with our limited partners,” Barnds and Palumbo said. “This investment from PACT will help us to expand our future capital commitments across the entire Accel-KKR platform.”

Christian von Schimmelmann, Managing Partner at PACT, said, “We are thrilled to partner with Accel-KKR, which we believe is one of the preeminent technology investment platforms in the world, and to back them with both capital and strategic support. On a personal level, I’m very excited to continue the relationship with Tom and Rob, who have built what we view as one of the strongest and best performing private investment businesses in the industry.”

Brian Vickery, Partner and head of PACT’s proprietary imPACT Platform, added, “Accel-KKR has built an exceptional, diversified investment platform over multiple decades. We very much look forward to working with Tom, Rob, and the rest of the Accel-KKR team.”

Specific terms of the transaction are not being disclosed.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, secondaries, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.  For more, visit accel-kkr.com.

About PACT Capital Partners
PACT Capital is an independent investment firm focused on providing capital and strategic support to middle-market alternative asset management firms. PACT seeks to partner with high-performing established and emerging private capital firms and help them to achieve their strategic objectives.  Headquartered in New York, PACT utilizes its proprietary imPACT platform to assist partner firms in accelerating capital formation, designing and launching new products, improving operations, attracting and retaining talent, leveraging cutting-edge technology, and improving outcomes for underlying portfolio companies. For more information, please visit https://www.pactcapitalpartners.com/.

The views and opinions expressed are those of the speakers and do not necessarily reflect those of AKKR or its affiliates (“AKKR”)

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Audax Private Equity Announces Sale of CW Advisors

Audax Group

BOSTON & SAN FRANCISCO, June 17, 2025 — Audax Private Equity (“Audax” or “the firm”), a capital partner for middle and lower middle market companies, announced today it has agreed to the sale of CW Advisors, LLC (“CWA”), a registered investment advisor (RIA) managing $13.5 billion in fee-only client assets. Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is acquiring CWA. Terms of the deal are not disclosed. The transaction is expected to close in the third quarter subject to customary closing conditions.

Headquartered in Boston with 17 offices across the country and over 140 employees, CW Advisors (FKA: Congress Wealth Management, LLC) serves high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients, offering core wealth management and investment advisory services. During Audax Private Equity’s roughly two-year hold, CWA saw its assets under management more than double through a combination of organic and inorganic growth.

Osaic is one of the nation’s largest providers of wealth management solutions and is acquiring CWA to build scale in its fee-only channel. CW Advisors will retain its brand, management team, and client service model as an independent RIA. Existing employee shareholders will retain a meaningful equity stake, and the transaction includes continued equity participation from Audax.

“When we first invested in CW Advisors, we were drawn to the strength of the firm’s management team, its track record of AUM and revenue growth, and the opportunity to leverage our Buy & Build model to help the team capitalize on the opportunity set in front of the business,” noted Bill Allen, a Managing Director at Audax and Head of the firm’s Financial Services specialization.

“The pace and volume of growth have exceeded even our own expectations, which traces back to the sense of partnership between Audax and the entire CWA team,” added Jay Petricone, a Managing Director at Audax and member of the firm’s Financial Services vertical.

Since July of 2023, CW Advisors completed 10 acquisitions that helped to expand its geographic footprint and suite of services. The M&A activity complemented strategic initiatives to invest in CWA’s family office business, in addition to corporate investments in CWA’s IT infrastructure, Office of the CFO, and marketing efforts to help scale the organization and accelerate organic growth.

“Audax clearly understands ‘people’ businesses and recognizes the importance of investing in the team and aligning interests to set the stage for accelerated growth,” noted Scott Dell’Orfano, Chief Executive Officer of CWA. “Audax was a collaborative and constructive partner. They demonstrated an intimate understanding of the wealth management space and helped us pursue a thoughtful approach to growth that helped position CWA as an acquirer and partner of choice.”

“Following the sale of Stout, also announced in June, the realization of CWA marks the second exit out of our Financial Services specialization, which we launched in 2021,” noted Adam Abramson, a Partner at Audax. “A common thread between the two investments is that we sought to work with exceptional management teams, we trusted and supported their visions for growth, and we believe both represent tremendous outcomes for management, the firms, Audax, and our investors.”

Including the announced deals for CWA and Stout, Audax, as of June 13th, has secured eight realizations across its Flagship and Origins strategies over the previous 12 months.

Ardea Partners LP served as lead advisor to CWA on the sale and Houlihan Lokey also served as an advisor, while Kirkland & Ellis LLP and Winston & Strawn LLP provided legal counsel.

About

ABOUT AUDAX PRIVATE EQUITY:
Headquartered in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of March 2025, over 290 team members, and 100-plus investment professionals, Audax has invested in more than 175 platforms and over 1,350 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

ABOUT CW ADVISORS
CW Advisors, LLC is an SEC-registered investment management firm headquartered in Boston, developing innovative wealth solutions for high-net-worth and ultra-high-net-worth individuals, families, foundations, and endowments. CW Advisors, through superior service and sound, objective advice, offers financial planning and investment consulting and management services, tailored to each client’s unique needs to protect and grow assets. CW Advisors provides specialized family office services to meet the distinctive needs of ultra-high-net-worth and multigenerational families. Registration does not imply a certain level of skill or training. For more information, visit www.cwadvisorsgroup.com.

Audax was a collaborative and constructive partner. They demonstrated an intimate understanding of the wealth management space and helped us pursue a thoughtful approach to growth that helped position CWA as an acquirer and partner of choice.”
Scott Dell’Orfano
Chief Executive Officer, CWA

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EQT-backed Enity, a leading Nordic specialist mortgage provider, goes public on Nasdaq Stockholm

eqt

Enity Group

  • Enity Holding AB (publ), the largest specialist mortgage provider in Sweden, Norway, and Finland, began trading on Nasdaq Stockholm on 13 June 2025. 
  • The offering, which was priced at SEK 57 per share, was oversubscribed more than ten times. The share price closed today, on 17 June 2025, at SEK 71.88 per share, implying a market capitalization of SEK 3.6 billion. 
  • As part of the offering, the main shareholder (indirectly controlled by EQT (as defined below)) sold shares totaling approximately SEK 1.7 billion (assuming full exercise of the over-allotment option). This will result in aggregate gross proceeds of c. SEK 1.2 billion to EQT (assuming full exercise of the over-allotment option).

EQT is pleased to announce that EQT VII (or “EQT”) portfolio company Enity Holding AB (publ) (“Enity” or the “Company”), the largest specialist mortgage provider in Sweden, Norway, and Finland, began trading on Nasdaq Stockholm on 13 June 2025. As part of the offering, the main shareholder, indirectly controlled by EQT, sold shares totaling approximately SEK 1.7 billion (assuming full exercise of the overallotment option). 

The offering, which was priced at SEK 57 per share, attracted very strong interest from Swedish and international institutional investors as well as the general public in Sweden and Finland, and was oversubscribed more than ten times. As a result of the offering, Enity has more than 25,000 shareholders. The share price closed today, on 17 June 2025, at SEK 71.88 per share, implying a market capitalization of SEK 3.6 billion. 

EQT acquired Enity, then known as Bluestep Bank, in November 2017. During EQT’s ownership, Enity has been transformed into a modern, inclusive, pure-play specialist mortgage provider, enabling people who are not always well-served by the high-street banks to own their home and refinance their unsecured debt. Enity has expanded organically into new geographies, including Finland, and completed the strategic acquisitions of Bank2 and Eiendomsfinans in 2023 and 2025, respectively, strengthening Enity’s position in Norway. Further, the Company has expanded its mortgage-focused portfolio with an equity release product and included savings accounts as a part of its product offering. 

With EQT’s support, Enity has also made significant investments into developing a modern, scalable, cloud-based operating model to become a truly digital specialist mortgage bank, whilst maintaining its low-risk assets and underwriting skills and forging a path of stable and profitable growth. Today, Enity is a profitable market leader based on the size of its mortgage loan portfolio, with lending to the public of SEK 29.3 billion as of 31 March 2025, in a steadily growing market. 

Vesa Koskinen, Partner in the EQT Private Equity advisory team, commented: “The listing is a natural next step in Enity’s journey and reflects the strength of its business model, technology platform, and its ability to continue creating long-term value through responsible growth and inclusive lending.”

Contact
EQT Press Office, press@eqtpartners.com

Important notice
This press release does not constitute (i) an offer to sell or a solicitation of an offer to buy any securities of Enity or any of its affiliates; or (ii) an offer of securities for sale in the United States or elsewhere. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an applicable exemption from registration. There will be no public offering of any of the securities mentioned in this press release in the United States.

This press release is for informational purposes only and does not constitute investment advice or a recommendation or invitation to buy or sell any securities. Any investment decision should be based solely on the terms and conditions outlined in the relevant offering documents. Investors should consult their own advisors prior to making any investment decision.

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About EQT
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, 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, X, YouTube and Instagram 

About Enity
Enity is a specialist mortgage provider operating in the Nordic region, creating innovative and inclusive mortgage solutions for approximately 33,000 customers across Sweden, Norway and Finland. Enity commenced operations in 2005, with a mission to provide sustainable access to the housing market for the underpenetrated, high-growth segment of borrowers not always well-served by high-street banks, despite low risk and strong potential. 

More info: https://www.enity.com/en/

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CapMan Real Estate and Vander form joint venture to redevelop Kristian Augusts gate 10 in central Oslo

Capman

CapMan Nordic Real Estate III Fund and Vander have entered into a joint venture to co-own and redevelop Kristian Augusts gate 10 (KA10), a centrally located property in Oslo with excellent public transport connections.

The surrounding area has undergone significant revitalisation in recent years, including university expansions, the development of a tech innovation hub, new office developments, and enhanced retail, dining, and cultural offerings. KA10 will be transformed into high-quality serviced apartments, with Vander securing a long-term lease upon completion.

KA10 is currently an office property comprising approximately 2,500 m² across five above-ground floors and one underground level. The surrounding area is undergoing significant transformation, increasing its appeal through a more diverse range of uses and higher foot traffic. The property benefits from excellent connectivity, with subway, bus, and tram lines just metres away.

The joint venture plans to refurbish, extend, and reposition KA10 into high-quality serviced apartments. A long-term lease has been secured with Vander upon completion.

“We look forward to redeveloping this asset, creating a modern and attractive apartment hotel that further enhances urban living in the heart of Oslo,” shares Jens Henrik Larsen, Investment Director, CapMan Real Estate.

The €564 million CapMan Nordic Real Estate III Fund was established in 2020 and focuses on commercial real estate investments across the Nordics. CapMan Real Estate manages approximately €5.5 billion in assets, with a team of over 80 professionals based in Helsinki, Stockholm, Copenhagen, Oslo, and London.

For more information, please contact:

Jens Henrik Larsen, Investment Director, CapMan Real Estate, jens.larsen@capman.com, +47 950 34 844

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Sedai Raises $20 Million for the First Self-Driving Cloud

AVP

The platform reduces cloud costs and prevents system outages by taking action with patented AI technology.

Sedai, the self-driving cloud™, today announced a $20 million Series B round, led by AVP (Atlantic Vantage Point). The new funding, which also includes investments from Norwest, Sierra Ventures, and Uncorrelated Ventures, will fuel innovation across Sedai’s patented AI platform, so engineering leaders can safely and effortlessly manage the cloud.

Worldwide, the cloud will cost more than $700 billion this year, due to the rise of generative AI models that require vast computing power. A typical company now needs a small army of engineers to manage its cloud environment: an ever-growing array of complex microservices. Sedai uses its own AI to understand each unique environment. The platform then acts to prevent availability issues and eliminate wasted resources, through a patented process that Sedai’s co-founders invented.

“Every company needs a self-driving cloud,” said Suresh Mathew, CEO & Founder of Sedai. “Modern cloud environments are too complex to manage with simple automation, meaning that AI is the only safe solution for this problem. Fortune 500 companies that use Sedai save more than $5 million a year — plus over 22,000 hours of engineering time. This isn’t a future vision. It’s mission-critical technology, already in action.”

Sedai deeply integrates with all major cloud service providers, including AWS, Microsoft Azure, and Google Cloud Platform. Customers build trust with Sedai until they’re ready to let the AI platform take action across their cloud infrastructure, without human intervention. These “self-driving” actions include:

  • Self-scaling: Sedai replaces the risks and inaccuracies of traditional autoscaling with Smart Scaling. Powered by a patented deep reinforcement learning system, Sedai’s Smart Scaling continuously determines the exact resources each application needs, under varying traffic conditions. It predicts demand using live traffic, historical patterns, and application behavior. Sedai then scales vertically, horizontally, or both — precisely and safely — to prevent overprovisioning and improve performance.
  • Self-healing: Sedai detects critical production issues, such as degradation, failures, or outages. It then takes immediate, autonomous action to resolve them. In many cases, Sedai prevents incidents before they impact users, by spotting early signs of failure. While most tools provide alerts or suggestions, Sedai acts in real time to fix or prevent issues, avoiding disruptions.

“For our business to move fast, we need our cloud to operate at peak performance,” said Venkat Gopalan, Chief Technology Officer at Belcorp. “Sedai gives us that confidence. The AI manages and optimizes every application, every second of the day, so Belcorp’s cloud is always efficient and reliable. Sedai dramatically reduces our costs. But more importantly, it speeds up the pace that our engineering team can innovate.”

The core of Sedai’s platform is its proprietary Decision Engine, which orchestrates multiple AI agents each focused on a different goal. The agents use reinforcement learning to optimize based on cost, performance, and availability goals. Sedai also adapts to changes in a customer’s cloud environment, leveraging a combination of seasonality and causality modeling, anomaly detection, predictive analytics, and topology inference. The company holds a portfolio of U.S. patents that protect its ability to safely take action in the cloud.

“Sedai is a game-changing tool, both for our cloud strategy and for me personally,” said Matthew Duren, Vice President of Engineering at KnowBe4. “From a cost perspective, Sedai reduced our spend by up to 50% in production and by up to 87% in development, which meant it very quickly paid for itself. And from a personal perspective, Sedai helped me become a key strategic leader at KnowBe4. It frees up our team to focus on more valuable projects.”

Sedai will deliver a number of world-first capabilities in the months and years ahead. These innovations range from a self-driving operating system for SRE and DevOps teams, autonomous management of data platforms like Databricks and Snowflake, self-tuning for LLM-based applications, and GPU optimization for AI workloads. Across the board, Sedai will pioneer the next generation of cloud management.

The Series B financing will accelerate Sedai’s already rapid growth. The company increased revenue by 7X in 2024, headlined by deals with multiple Fortune 500 firms. For Sedai’s investors, the market opportunity is clear:

“As cloud adoption increases, companies are now struggling to improve the availability and performance of their infrastructure, while also reducing cost,” said Manish Agarwal, General Partner at AVP. “FinOps, as a category, has emerged to help companies get visibility into their cloud spend. However, we feel that visibility is only a small part of the solution. What enterprises really need is a way to optimize their cloud environment, in real time. Our view is that AI agents are uniquely positioned to address this need and enable autonomous cloud management. Sedai fits squarely into that thesis, and we are honored to be part of the company.”

“The rise of AI has led to both revolutionary new products and runaway cloud costs,” said Matthew Howard, General Partner at Norwest Venture Partners. “I see Sedai as a foundational tool in the enterprise stack, because it empowers engineers to build powerful AI systems, without wasting millions of dollars. There’s an enormous opportunity to make GPUs more efficient, and Sedai is in the perfect position to lead the charge. We’re thrilled to be part of its story.”

“Sedai doesn’t just save money, it rewrites the physics of how engineering teams operate,” said Tim Guleri, Managing Partner at Sierra Ventures. “It’s the first AI system we’ve seen that turns cloud infrastructure into a competitive advantage, not a cost center.”

“There was a time when we had to write every line of code by hand and install servers ourselves, just like cars used to have manual transmissions,” said Salil Deshpande, General Partner at Uncorrelated Ventures. “Those days are over. Today, AI can optimize cloud resources and fix performance issues, at all hours of the day. Driving stick isn’t the best way to get around anymore, and neither is manually managing your infrastructure. Sedai has shown that the future of the cloud is self-driving.”

About Sedai

Sedai is the world’s first self-driving cloud.™ Our platform uses patented AI to safely optimize your compute, storage, and data — freeing your engineers from routine work. Whatever your cloud looks like, Sedai learns how to drive it and fixes issues in seconds, before they waste money or cause outages. Today, we save millions of dollars for engineering leaders at Palo Alto Networks, Experian, and McGraw Hill. See for yourself: sedai.io

About AVP

AVP is an independent global investment platform dedicated to high-growth, tech (from deep-tech to tech-enabled) companies across Europe and North America, managing more than €2.5bn of assets across four investment strategies: venture, early growth, growth and fund of funds. Our multi-stage platform combines global research with local execution to drive investment. Since its establishment in 2016, AVP has invested in more than 60 technology companies and in more than 60 funds with the Fund of Funds investment strategy. Beyond providing equity capital, our expansion team works closely with founders, providing the expertise, connections and resources needed to unlock growth opportunities, and create lasting value through meaningful collaborations.

For more information, visit our new website: www.avpcap.com

Press Contact

Logan Goldberg
Sr. Director of Brand
press@sedai.io

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KKR Acquires Leading Australian Independent Power Producer Zenith Energy

KKR

ransaction marks latest infrastructure investment in ANZ and renewable energy investment in APAC

SYDNEY–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the signing of definitive agreements to acquire Zenith Energy (“Zenith” or the “Company”), a leading independent power producer (“IPP”), from a consortium including Pacific Equity Partners, OPSEU Pension Trust (“OPTrust”), and Foresight Group (together the “Consortium”), with Zenith’s founder and management retaining a minority stake. KKR’s investment will position Zenith well for continued long-term growth on the back of favorable sector fundamentals and macro tailwinds.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250615023296/en/

Zenith specialises in the delivery of sustainable and reliable hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts. Zenith provides an essential service for Australia’s large off-grid mining industry and the Company has established a strong track record over its 18-year operating history. Today, the Company has more than 710MW contracted capacity across ~15 sites, secured under long-term contracts.

Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, “Zenith’s position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform. Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power.”

Zenith’s CEO and Managing Director, Hamish Moffat, said: “We are excited by the opportunity presented by KKR’s investment in the company and its strategy, which is a strong validation of Zenith’s capabilities and competitive edge. The investment by KKR will accelerate our growth and ability to service large scale projects with a broad capital base. There are significant and immediate opportunities inherent in the decarbonisation of Australia’s mining sector, which Zenith is uniquely positioned to deliver via large-scale, high penetration, hybrid power projects. Today’s announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia’s mining sector intensifies its decarbonisation efforts.”

The announcement follows Zenith’s completion of a A$1.9 billion refinancing and upsizing of its existing bank debt facilities, with the increased limit providing the company with more than A$1 billion of growth capital from several lenders to support the development of new projects. A portion of this includes green loan facilities, underscoring Zenith’s commitment to the energy transition of Australia’s resource sector by delivering renewable power technologies and lower emissions solutions for mine site energy supplies.

KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. KKR has a long track-record investing in the renewables sector and energy transition thematic. Past investments in the renewables sector in Asia Pacific include Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; Virescent Renewable Energy Trust, a renewable energy platform in India; Hero Future Energies, a global renewable energy company; First Gen, a provider of clean and renewable power in the Philippines; and Aster Renewable Energy, a renewables platform in Taiwan. KKR’s Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019.

The transaction is expected to close in late 2025, subject to customary regulatory approvals.

About Zenith Energy

Zenith Energy is Australia’s leading IPP with a portfolio of grid-connected and islanded remote microgrids throughout Western Australia and the Northern Territory. Zenith Energy is Australia’s largest IPP (by total contracted capacity in the mining and property sectors) and has a contracted capacity of approximately 700MW. The company operates a Build – Own – Operate model and integrates a complete range of renewable and thermal energy generation with innovative technologies to deliver cost-effective and reliable, sustainable energy power solutions.

About KKR

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

Media Contacts

For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

James Strong
+61 (0)448 881 174
james.strong@sodali.com

For Zenith Energy:
Caroline Stanley
+61 402 170 901
cstanley@gracosway.com.au

Source: KKR

 

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Ardian arranges a unitranche financing to refinance the existing debt of Cyrus, a leading wealth management advisory firm in France

Ardian

Ardian, a world-leading private investment firm, today announces the arrangement of a new portable unitranche facility to refinance the existing debt of Cyrus. The financing package also includes a sizeable, committed line to support the planned entry of a new financial shareholder and back the group’s external growth strategy.

Founded in 1989 and headquartered in Paris, Cyrus is a leading independent financial advisory business with €19bn in assets under management as of April 2025. The group offers wealth management advisory services (Cyrus-Herez), family office services (Canopee), as well as asset management (Amplegest Octo), real estate asset management (Eternam) and private equity solutions.

Under the leadership of its current management team and with the support of Bridgepoint Development Capital, Cyrus has experienced an impressive growth trajectory over the past years, with sustained organic performance and executed a series of transformative acquisitions.

”We are pleased to renew our partnership with Ardian, our long-standing financing partner for over seven years who has consistently supported our growth strategy. This new financing provides us with the confidence and clarity to look to the future and seize consolidation opportunities in the market following the strategic merger between Cyrus and Herez in 2024.
Ardian’s financing solution is perfectly aligned with this vision, the portability feature giving us the flexibility to welcome a potential new financial sponsor and move soon into the next phase of our growth.” Meyer Azogui & Patrick Ganansia, Co-CEOs of Cyrus Group

”We have partnered with Cyrus Group since 2018, supporting key milestones including Bridgepoint’s entry in 2020 and the merger with Herez in 2024, which contributed strongly to establish a national leader in wealth management advisory under the leadership of Meyer Azogui and Patrick Ganansia.
This new financing reflects our long-term partnership-driven investment approach, and we are proud to continue supporting Cyrus’ ambitions with a flexible and portable solution that not only sets the stage for the next LBO cycle, but also preserves the firepower needed to pursue strategic acquisitions alongside incoming financial sponsor.” Guillaume Chinardet and Gregory Pernot, Deputy Head of Private Credit & Co-Head of Private Credit France, Ardian

List of participants

  • Ardian

    • Ardian: Guillaume Chinardet, Grégory Pernot, Gabrielle Philip, Alexis Bernet
    • Legal Advisor (financing): Willkie Farr & Gallagher (Paul Lombard, Ralph Unger, Joris Cairo)

  • Cyrus

    • Cyrus: Meyer Azogui, Patrick Ganansia, Matthieu Enjuanes, Guillaume Houlbert
    • Bridgepoint Development Capital: Bertrand Demesse
    • Financial Advisor: Rothschild (Jean-Baptiste Petetin, Adèle Chevreau)
    • Legal Advisor (financing): Jeausserand Audouard (Marie-Paule Noël)

ABOUT ARDIAN

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

ardian.com

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

Categories: News

Accent Equity successfully closes Fund VII at SEK 2,250 million

Accent Equity
  • Accent Equity has raised SEK 2,250 million for its seventh fund, building on 30 years of creating profitable growth and lasting transformations in Nordic lower mid-market companies
  • The fund attracted commitments from prominent blue-chip institutions, comprising both returning and new investors
  • Five platform investments have already been completed by the fund

Accent Equity has successfully closed its seventh fund, Accent Equity VII, with total commitments of SEK 2,250 million. The fund received strong support from a combination of existing investors from previous Accent Equity funds, as well as new institutional investors.

The fund attracted commitments from prominent blue-chip institutions, including foundations, pension funds, insurance companies, fund-of-funds and family offices. Geographically, approximately 47% of total commitments originated from Nordic investors, 49% from the rest of Europe, and 4% from other regions.

Accent Equity VII continues the firm’s longstanding strategy of investing in lower mid-market companies across the Nordic region, with a focus on creating profitable growth and lasting transformations. The fund has already completed five platform investments: Linotol Group, Plockmatic Group, Helmacab, Brimer and Unisport – and the portfolio is demonstrating strong early progress.

“We’re very pleased with the strong interest in Accent Equity VII, despite the challenging fundraising market – a clear testament to Accent Equity’s proven ability to create value in the lower Nordic mid-market. We’d like to thank our existing investors for their continued support and also welcome new investors to Accent Equity”, says Niklas Sloutski, CEO of Accent Equity.

FirstPoint Equity acted as global fundraising advisor, while Mannheimer Swartling acted as legal advisor.

For more information, please contact:
Niklas Sloutski, CEO and Partner at Accent Equity
+46 70 300 99 59, niklas.sloutski@accentequity.se
Marcus Jennekvist, CFO and Associate Partner at Accent Equity
+46 70 101 07 07, marcus.jennekvist@accentequity.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
Follow Accent Equity on LinkedIn

2025Accent Equity VII

Categories: News

EQT sets target fund size for EQT XI at EUR 23 billion

eqt

 

THIS IS INFORMATION THAT EQT AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT BELOW AT 15:00 CEST ON 15 JUNE 2025.

EQT has today set the target size for EQT XI (or the “Fund”) at EUR 23 billion. The actual fund size is dependent on the outcome of the fundraising process and may be higher or lower than the target size; the hard cap of the fund will be set at a later date. EQT XI’s investment strategy is expected to be materially in line with the predecessor fund, EQT X.

To ensure continuity between two fund generations, EQT’s capital raisings usually follow a cycle with successor funds targeted to be in a position to commence investment activities when the predecessor fund is close to being fully invested. This means that the commitment period of the predecessor fund typically ends when approximately 80 to 90 percent of its total commitments are invested, with remaining commitments being available primarily for add-on acquisitions and strategic capital injections as well as for ongoing expenses.

Management fees for EQT XI will be charged from the earlier of (i) the date of closing of the first investment by EQT XI; or (ii) the date of termination of the commitment period of EQT X. Management fees on EQT X are thereafter based on net invested capital.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
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 XI 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.

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About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagra

EQT

Categories: News