Investment to Accelerate Growth and Drive Continued SaaS Bookings Momentum in One Identity/OneLogin, the Industry’s Most Comprehensive Unified Identity Cybersecurity Software Platform
New Platform Investment to Drive Robust Buy-and-Build Strategy and Support Quest Customers and Partners through Digital Transformation in Cybersecurity, Data Intelligence, and IT Operations
SANTA MONICA, CA and ALISO VIEJO, CA – November 29, 2021 – Quest Software (“Quest” or the “Company”), a global cybersecurity, data intelligence, and IT operations management software provider, announced it signed a definitive agreement with Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”) to acquire the Company from Francisco Partners. Patrick Nichols, current CEO of Quest, will continue to lead the Company supported by the existing executive management team. Upon closing of the transaction, Clearlake will become the majority shareholder in Quest. The terms of the transaction were not disclosed.
“We have long admired Quest as a leading identity-centric cybersecurity, data intelligence, and IT operations management software platform and the Company’s software solutions that help secure enterprise IT environments,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “We are excited to partner with Patrick and Carolyn McCarthy, Quest’s CFO, to utilize Clearlake’s O.P.S.® framework to help the Company strengthen its strategic growth plans including best practices to accelerate cloud/SaaS adoption and support its buy-and-build strategy.”
“IT teams worldwide rely on Quest to help them solve critical challenges that enable business growth and address crucial strategic initiatives. Quest has evolved to become a market leader in identity-centric cybersecurity, data intelligence, and IT operations management and I want to thank Francisco Partners for helping Quest realize this vision,” said Patrick Nichols, CEO of Quest. “Our new partnership with Clearlake will accelerate Quest’s momentum as a leader and innovator as we increase our investment pace in our core product roadmaps, cloud/SaaS offerings, and global presence. We will continue to expand our customer base as computing environments and related management, modernization, and security challenges, become more complex.”
“We are proud of the tremendous progress Quest has made since re-launching as an independent company, and I want to recognize Patrick Nichols and the management team for strong execution,” said Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Partners. “We have a long and successful track record executing divisional carve-out transactions and are grateful to have had the opportunity to work with the Quest team to create value for the company, its customers, and its partners. We wish the Quest organization well in their new partnership with Clearlake.”
Founded in 1987, Quest Software has built a reputation over three decades as a critical software solution provider for security-sensitive customers and a leader of innovation addressing rapidly evolving risks and security threats. Quest enables today’s edgeless IT ecosystem – across people, applications, and data to endpoints – allowing customers to maintain controls, mitigate and contain security threats proactively, and maintain operational up-time while decreasing costs.
Quest’s key business segments include:
“It has been a pleasure partnering with Patrick and the entire management team at Quest in scaling the business both organically and through strategic acquisitions,” said Brian Decker, Partner and Christine Wang, Principal at Francisco Partners. “Since our partnership with the Company, Quest has evolved to become an innovative leader in the cybersecurity, data intelligence and IT operations management markets delivering significant value to its customers and partners.”
“With a robust portfolio of market-leading software and SaaS solutions alongside a rich history of product innovation, we believe Quest is well positioned to capitalize on emerging growth trends in identity-centric cybersecurity, data intelligence and IT operations management software markets,” said Prashant Mehrotra, Partner, and Paul Huber, Principal at Clearlake. “Now with significant scale and completely independent, Quest is strategically differentiated in the market as a buy-and-build platform and industry consolidator, and we’re thrilled to partner with Patrick, Carolyn and the management team to help Quest accelerate growth organically and through M&A.”
The transaction is expected to close in the first quarter of 2022, pending customary regulatory approvals and closing conditions. Goldman Sachs acted as sole lead financial advisor to Quest. J.P. Morgan also acted as financial advisor and Paul Hastings LLP acted as legal advisor to Quest.
Silicon Valley Tech Investment Bank and Morgan Stanley along with BoA Securities, Barclays, Evercore, and William Blair acted as financial advisors to Clearlake. Sidley Austin LLP acted as legal advisor to Clearlake.
Goldman Sachs, Morgan Stanley & Co LLC, BoA Securities, Barclays, Credit Suisse, BMO Capital Markets and Citigroup provided committed debt financing for the transaction.
About Quest
Quest creates software solutions that make the benefits of new technology real in an increasingly complex IT landscape. Quest helps customers solve their next IT challenge, from database and systems management to Active Directory and Office 365 management and cybersecurity resilience. Around the globe, managing over 250 million identities, more than 100,000 customers, 15,000 partners and 97 of the Fortune 100 count on Quest to deliver proactive management and monitoring for the next enterprise initiative, find the next solution for complex Microsoft challenges, and stay ahead of the next threat. Quest Software. Where next meets now. For more information, visit www.quest.com.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $55 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $30 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Media contacts:
For Quest: Mariah Gauthier
Highwire Public Relations
951-314-0760
mariah@highwirepr.com
For Clearlake: Jennifer Hurson
Lambert & Co.
845-507-0571
jhurson@lambert.com
For Francisco Partners: Kate Sylvester
Sloane & Company
212-446-1860
ksylvester@sloanepr.com
Blackstone to Maintain Minority Investment in Aqua Finance
Specialist Platform on Track to Originate $2 Billion of Loans in 2021
NEW YORK, Nov. 29, 2021 (GLOBE NEWSWIRE) — Athene (NYSE: ATH) and Apollo (NYSE: APO) today announced that Athene has agreed to acquire a controlling stake in Aqua Finance (“Aqua” or the “Company”), a fast-growing consumer lending platform, from funds managed by Blackstone Tactical Opportunities (“Blackstone”) at a valuation of approximately $1 billion. Under the terms of the transaction, Apollo will manage the investment on behalf of Athene. Blackstone would also maintain a minority stake in the Company.
Aqua Finance is a Wisconsin-based specialist lending platform that originates and services consumer loans, primarily for home improvement and water treatment. The Company has strong and growing merchant relationships formed over 30 years and has nearly doubled its annual loan originations since Blackstone first invested in 2018, with originations expected to reach $2 billion in 2021.
“Aqua Finance is an exciting opportunity for Athene to invest in a leading consumer finance platform, to provide capital and expertise to continue to grow the business, and to execute on our strategy with Apollo to invest in high-quality origination platforms,” said Jim Belardi, Chief Executive Officer of Athene.
“We are excited to partner with this new investor group as we enter the next stage of expansion for Aqua. I am proud of the significant progress we have made in establishing Aqua as an industry leader together with Blackstone and look forward to building on that strong foundation in the years ahead,” said Rich Morrin, Aqua’s Chief Executive Officer.
“For more than three decades, Aqua has partnered with merchants to provide flexible consumer lending solutions, and with Athene we look forward to investing in the business and supporting the Aqua team to build on this success,” said Apollo Co-President Jim Zelter. “For Apollo and Athene, Aqua is highly complementary to our portfolio of diversified origination platforms, extending our access to quality consumer loan flow.”
Menes Chee, a Senior Managing Director at Blackstone, and C. C. Melvin Ike, a Principal at Blackstone, said, “We are pleased to have backed Aqua, Rich, and his management team as they built a strong financial technology platform serving customers across the country. We look forward to continuing to support the business and its next phase of growth.”
Aqua Finance has a long history of partnering with merchants across the home improvement and recreational ecosystem to provide dependable and flexible financing solutions to their customers. Through this transaction, the new investor group expects to invest in new technology and innovation to further enhance the merchant customer experience and drive expansion of the network with new and existing partners.
The addition of Aqua Finance will increase Apollo’s current $80 billion annual run-rate of asset origination across its platforms, which span commercial and consumer lending. Apollo’s portfolio of proprietary origination platforms help the firm to originate high-quality, recurring assets for its investors, including Athene.
The transaction is subject to the satisfaction of customary closing conditions, including certain regulatory approvals, and is expected to close in the first half of 2022. Lazard and Goldman Sachs are serving as financial advisors and Weil Gotshal & Manges LLP as legal counsel to Blackstone and Aqua Finance. Sidley Austin LLP is serving as legal counsel to Apollo.
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 equity. 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 of assets under management. To learn more, please visit www.apollo.com.
About Athene
Athene, through its subsidiaries, is a leading retirement services company with total assets of $224.4 billion as of September 30, 2021 and operations in the United States, Bermuda, and Canada. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Founded in 2009, Athene is Driven to Do More for our policyholders, business partners, shareholders, and the communities in which we work and live. For more information, please visit www.athene.com.
About Blackstone
Blackstone is the world’s largest alternative investment firm. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Athene Safe Harbor for Forward-Looking Statements
This press release contains, and certain oral statements made by Athene’s representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of Athene’s management and the management of Athene’s subsidiaries. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” “should,” or “continues” or similar expressions. Forward-looking statements within this press release include, but are not limited to, statements regarding future growth prospects and financial performance. Factors that could cause actual results, events and developments to differ include, without limitation: the accuracy of Athene’s assumptions and estimates; Athene’s ability to maintain or improve financial strength ratings; Athene’s ability to manage its business in a highly regulated industry; regulatory changes or actions; the impact of Athene’s reinsurers failing to meet their assumed obligations; the impact of interest rate fluctuations; changes in the federal income tax laws and regulations; the accuracy of Athene’s interpretation of the Tax Cuts and Jobs Act; litigation (including class action litigation), enforcement investigations or regulatory scrutiny; the performance of third parties; the loss of key personnel; telecommunication, information technology and other operational systems failures; the continued availability of capital; new accounting rules or changes to existing accounting rules; general economic conditions; Athene’s ability to protect its intellectual property; the ability to maintain or obtain approval of the Delaware Department of Insurance, the Iowa Insurance Division and other regulatory authorities as required for Athene’s operations; the delay or failure to complete or realize the expected benefits from the proposed merger with Apollo Global Management; and other factors discussed from time to time in Athene’s filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2020, its quarterly report on Form 10-Q for the quarterly period ended September 30, 2021, and its other SEC filings, which can be found at the SEC’s website www.sec.gov.
All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Athene does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contacts
For Apollo:
Investors:
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com
Media:
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com
For Athene:
Investors:
Alex Pelzar
+1 646 768 7316
apelzar@athene.com
Media:
Marcia Kent
+1 515 342 3918
mkent@athene.com
For Blackstone:
Matt Anderson
Matthew.Anderson@blackstone.com
518-248-7310
Source: Apollo Global Management, Inc.
Montagu announces today that it has entered into exclusive negotiations with Quilvest Capital Partners to acquire Eudonet Group.
Based in Courbevoie, France, Eudonet is a developer of CRM software serving 1,200 customers and 53,000 users, across France, the Netherlands, the UK, Belgium, Switzerland and Canada. Eudonet was founded in 2000 and is one of the leading CRM providers for associations, local authorities, and higher education by developing products with a large set of pre-configured functionalities targeting specific customer needs.
Eudonet’s management team has grown the business considerably thanks to a scalable strategy that consists of improving functionalities continuously and replicating the vertical approach in selected sectors such as real-estate through investments in product development and acquisitions.
Antoine Henry, CEO of Eudonet, commented: “We are delighted to be partnering with Montagu and see considerable opportunity ahead for the business. Montagu’s expertise in the technology space and international expansion capabilities will be major assets for our company. This partnership will enable us to further develop the company through significant investments in product development and expansion in new verticals and geographies.”
Antoine de Peguilhan, Director at Montagu, said: “Eudonet is a great example of Montagu’s strategy of partnering with high-quality technology companies in their pursuit of growth. The management team has done a remarkable job at introducing best practices in all functions and processes, resulting in an impressive quality of operations. We believe that Eudonet is a scalable business with a solid technology platform and a strong management team, which can continue to achieve double-digit organic growth and further expand through M&A.”
Pascal Ambrosi, Director at Montagu added: “We were attracted by Eudonet’s core values of humility, collaboration, agility, and performance. Eudonet’s business model puts customers at the heart of everything they do, from innovative product development to efficient and quick product deployment, and customer service. This customer-first approach coupled with targeted acquisitions allowed Eudonet to strengthen its position in existing core verticals, to enter new attractive niches, and to expand internationally. We look forward to supporting the company and its over 200 employees in the next phase of their growth.”
Thomas Vatier, Partner at Quilvest Capital Partners said: “We are honoured to have partnered with the talented Eudonet management team, led by Antoine Henry and Fabrice Vernière, since early 2017. Since that time, Eudonet has considerably accelerated its growth, as a result of significant investments in the product development and deep vertical approach; in addition, over the period, Eudonet completed four add-on acquisitions, strongly expanding its presence internationally. Now more than ever Eudonet benefits from a great runway to accelerate its entrepreneurial development at home and abroad.”
The transaction is subject to the final and definitive agreement between the parties and customary conditions and provisions.
Ratos company Aibel has been awarded another major contract with Equinor valued at more than NOK 4 billion. The contract pertains to engineering, procurement, construction and installation (ECPI) for the partial electrification of the Oseberg Field Centre and Oseberg South. The contract also includes an upgrade of the gas processing capacity at the Oseberg Field Centre. As part of this project, Aibel will continue to play a central role in decarbonising Norwegian oil and gas production.
The contract was awarded following Aibel’s completion of the front-end engineering and design (FEED) of the project, which aims to maximise gas exports from Oseberg and at the same time establish a solution for electrification of the gas compressors. This will reduce CO2 emissions from offshore production by more than 320,000 tonnes per year from 2025.
“The contract was secured only a few days after Aibel was awarded four major Equinor contracts with a total value of around NOK 5 billion. This means that Aibel has signed contracts for almost NOK 10 billion this week. Naturally, as an owner, we are pleased with this development, particularly since Aibel is going from strength to strength in its transformation towards renewables in its order backlog, enabling long-term sustainable value creation,” says Christian Johansson Gebauer, President Business Area Construction & Services, Ratos.
The Oseberg contract means that, for the first time, the share of renewables in Aibel’s order backlog is greater than the oil and gas share. Renewables now account for 60% of the order backlog of approximately NOK 14 billion. This is a milestone in Aibel’s ongoing transformation.
The extensive project execution work will be carried out at Aibel’s offices in Bergen and Stavanger, with support from the offices in Haugesund and Oslo. The project will start up immediately and is scheduled to be ready for production in the summer of 2025 and fully completed in the summer of 2026.
“This week, Aibel has consolidated its position as the leading supplier of solutions for electrification of offshore and onshore production and processing plants. We are proud to play a central role in the work to decarbonise Norwegian oil and gas production. The Norwegian oil and gas industry has an ambition to realise a 40% reduction in CO2 emissions from the shelf by 2030. With this contract, Aibel will be able to make a significant contribution to achieving this goal,” says Mads Andersen, President and CEO of Aibel.
The contracts are conditional upon the customary approval by the authorities.
For further information:
Christian Johansson Gebauer
President Business Area Construction & Services, Ratos
+46 8 700 17 00
Mads Andersen
President and CEO, Aibel AS
+47 982 96 501
About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 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.
Universal Robina Corporation (URC), one of the largest branded food and beverage companies in the Philippines with a strong presence in the ASEAN region, reached an agreement with private equity firm CVC Capital Partners (CVC) to acquire a 100% stake in Munchy Food Industries Sdn. Bhd. (Munchy’s) and its wholly owned subsidiary Munchworld Marketing Sdn. Bhd. from CVC Asia IV for 1.925 billion Malaysian Ringgit on a “cash-free, debt free” basis.
Established in 1991, Munchy’s is Malaysia’s No.1 biscuit brand that has now flourished into a recognized and successful brand across the region. Munchy’s offers a wide variety of offerings across all key biscuit segments with well-loved brands include Munchy’s Cream Crackers, LEXUS Cream Sandwich, Oat Krunch, Muzic Wafer, and Choc-O cookies, are available in most retail outlets in Malaysia and more than 50 countries globally.
Irwin C. Lee, President and CEO of URC, said: “URC is delighted to announce the acquisition of Munchy’s which will add immediate value to our international product portfolio, and scale up our Malaysian market position to leadership in the Biscuits category. Munchy’s, with its strong brands, talented organization, and operational excellence, is a great strategic fit with URC. Together, we will be able to further expand the footprint of URC and Munchy’s brands and unlock growth synergies in Malaysia as well as across the ASEAN region.
Alvin Lim, Senior Managing Director of CVC, said: “This has been a highly successful partnership between CVC and the excellent leadership team at Munchy’s that has seen the company expand into new geographies and the launch of numerous innovative and delicious products. Universal Robina Corporation is the perfect new home for Munchy’s and we wish them the very best for the future.”
Rodney Wong, Munchy’s CEO, said: “We are excited to become part of URC. This move will allow Munchy’s to have access to research and development expertise in multiple categories, enhance market knowledge, route to market, and manufacturing capabilities in countries outside of Malaysia. This will translate to development of innovative forward-thinking offerings to our consumers and strengthen our presence in the ASEAN market. Both companies share a common purpose, values and ambition where we both put people first in everything we do, looking to delight everyone with good food choices and inspire happiness together. We would like to thank CVC for their expertise and support over the last three years and look forward for the next phase of profitable growth for Munchy’s.”
The transaction has been approved by the board of directors of both companies and is expected to close by December 2021 subject to fulfilment of customary closing conditions.
Universal Robina Corporation (URC), one of the largest branded food and beverage companies in the Philippines with a strong presence in the ASEAN region, reached an agreement with private equity firm CVC Capital Partners (CVC) to acquire a 100% stake in Munchy Food Industries Sdn. Bhd. (Munchy’s) and its wholly owned subsidiary Munchworld Marketing Sdn. Bhd. from CVC Asia IV for 1.925 billion Malaysian Ringgit on a “cash-free, debt free” basis.
Established in 1991, Munchy’s is Malaysia’s No.1 biscuit brand that has now flourished into a recognized and successful brand across the region. Munchy’s offers a wide variety of offerings across all key biscuit segments with well-loved brands include Munchy’s Cream Crackers, LEXUS Cream Sandwich, Oat Krunch, Muzic Wafer, and Choc-O cookies, are available in most retail outlets in Malaysia and more than 50 countries globally.
Irwin C. Lee, President and CEO of URC, said: “URC is delighted to announce the acquisition of Munchy’s which will add immediate value to our international product portfolio, and scale up our Malaysian market position to leadership in the Biscuits category. Munchy’s, with its strong brands, talented organization, and operational excellence, is a great strategic fit with URC. Together, we will be able to further expand the footprint of URC and Munchy’s brands and unlock growth synergies in Malaysia as well as across the ASEAN region.
Alvin Lim, Senior Managing Director of CVC, said: “This has been a highly successful partnership between CVC and the excellent leadership team at Munchy’s that has seen the company expand into new geographies and the launch of numerous innovative and delicious products. Universal Robina Corporation is the perfect new home for Munchy’s and we wish them the very best for the future.”
Rodney Wong, Munchy’s CEO, said: “We are excited to become part of URC. This move will allow Munchy’s to have access to research and development expertise in multiple categories, enhance market knowledge, route to market, and manufacturing capabilities in countries outside of Malaysia. This will translate to development of innovative forward-thinking offerings to our consumers and strengthen our presence in the ASEAN market. Both companies share a common purpose, values and ambition where we both put people first in everything we do, looking to delight everyone with good food choices and inspire happiness together. We would like to thank CVC for their expertise and support over the last three years and look forward for the next phase of profitable growth for Munchy’s.”
The transaction has been approved by the board of directors of both companies and is expected to close by December 2021 subject to fulfilment of customary closing conditions.
26 November 2021, Hong Kong – UOB and HSBC acted as green loan coordinators on club loan facilities of HK$1.85 billion to a Gaw Capital Partners-led consortium (“the Consortium”). These facilities comprise a US$110 million (HK$853 million) offshore loan and a RMB837 million (HK$992 million) onshore loan. Maybank, BNP Paribas and KGI also participated in the club deal.
The loan proceeds will be used to refinance the existing loans for the Consortium’s acquisition of four premium office buildings[1] at Shanghai MixC, a set of quadruplet eight-storey buildings in Minhang District, Shanghai, China. The buildings have received the LEED v4 Building Operations and Maintenance: Existing Buildings Gold certification[2] from the US Green Building Council for their environmentally-friendly features. The features include LED lights for the office lobby, control measures at elevators to conserve energy, environmentally-friendly architectural paints sourced in local market to reduce transport emissions, as well as garbage classification for better waste management.
The loan facilities support the Consortium’s continued efforts in implementing its sustainability strategy to improve environmental performance and to contribute to the United Nations’ Sustainability Development Goals.
Ms Christina Gaw, Managing Principal & Global Head of Capital Markets of Gaw Capital Partners, said, “At Gaw Capital, ESG considerations are essential to our investment selection criteria and asset management. We look for opportunities to enhance value in assets that we acquire through ESG measures and aim to reduce the assets’ carbon footprint. Investors consider green and energy-efficient buildings a necessity in the long run and we strongly believe that environmentally sound real estate will lead to better performance and well-being of a property’s users.”
Mrs Christine Ip, CEO – Greater China, UOB, said, “Green and energy-efficient features will increasingly be the norm for premium office buildings as we transition into a low carbon economy. We are pleased to walk alongside Gaw Capital Partners, our longtime partner, in its sustainability journey. This is part of UOB’s commitment to forging a sustainable future with our clients by supporting their sustainable business models as they advance responsibly.”
Mr Frank Fang, Head of Commercial Banking, Hong Kong, HSBC, said, “As a leading bank in the sustainable finance market, HSBC strives to support the business community in fulfilling their ESG agenda and contributing to a net-zero economy. With sustainability being key to the development of real estate sector, it is our pleasure to work with Gaw Capital Partners to help shape the future of green buildings together.”
– Ends –
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and Education. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.
Gaw Capital has raised six commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund, a Growth Equity Fund and also provides services for separate account direct investments globally.
Since 2005, Gaw Capital has commanded assets of USD$32.5 billion under management as of Q2 2021.
About United Overseas Bank
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices across the region.
Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.
We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.
About The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,969bn at 30 September 2021, HSBC is one of the world’s largest banking and financial services organisations.
[1] Four premium office buildings namely Tower A, B, C and D at Shanghai MixC.
Deal represents a transformational opportunity for the portfolio company to become an Integrated Value-Added Aluminum Engineering & Packaging Group
TOKYO and HONG KONG, and NEW YORK, Nov. 25, 2021 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced that Showa Aluminum Can Corporation (“Showa Aluminum”), a portfolio company owned by funds managed by Apollo’s affiliates (the “Apollo Funds”), has entered into a series of definitive agreements to acquire the Aluminum Rolled & Extruded Products Business of Mitsubishi Aluminum Co., Ltd. (“Mitsubishi Aluminum”), a wholly owned subsidiary of Mitsubishi Materials Corporation (“Mitsubishi Materials”), a Japanese leading producer of diversified advanced materials, and all of the shares of Universal Can Corporation, which is engaged in the manufacturing of aluminum beverage cans, from its current shareholders Mitsubishi Materials and Hokkan Holdings Limited, a Japanese leading packaging group.
The transaction presents a transformational opportunity for Showa Aluminum to become an integrated, value-added aluminum engineering and packaging group. Apollo will leverage its global expertise in both the aluminum and packaging industries to help the businesses further enhance their value proposition and growth, including in the sustainable aluminum packaging sector.
For Apollo, the transaction demonstrates its investment thesis to grow Showa Aluminum’s business in the region, including inorganic growth through add-on transactions. It is also representative of Apollo’s increasing private equity activity in Japan and is the third major corporate carveout transaction for Apollo Funds completed or announced this year.
Tetsuji Okamoto, Partner and Head of Japan Private Equity at Apollo, said: “This transaction will bring together two highly complementary businesses, each with a proud heritage of providing high-quality aluminum products to a variety of end-markets and customers. We are also pleased to have worked with Mitsubishi Materials to structure a carve-out that meets their business portfolio transformation needs.”
Subject to satisfaction of customary closing conditions and regulatory approvals, the transaction is expected to be completed by March 31, 2022.
BofA Securities Japan Co., Ltd. acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP alongside Anderson Mori & Tomotsune acted as legal advisors to Showa Aluminum and the Apollo Funds.
About Showa Aluminum
Showa Aluminum is a leading aluminum beverage packaging provider. Established in 1969, as a pioneer in aluminum packaging in Japan, the company has since been serving global beverage companies for over 50 years. As of today, Showa Aluminum, together with its group companies, Hanacans Joint Stock Company and Sakai Aluminum Corporation, operates 8 manufacturing facilities across Japan, Vietnam and China and has a workforce of over 1,200 across the region.
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 equity. 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 of assets under management. To learn more, please visit www.apollo.com.
Contacts
For 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
With close to 300 investments made since the firm was founded 21 years ago, Balderton has extensive experience backing exceptional founders from seed to growth stage, Europe-wide. Since the start of the year, Balderton has invested in 20 new startups in sectors ranging from reproductive health and instant commerce to data labelling and gaming.
Read Suranga Chandratillake’s take on the story behind this latest fund, and our life as a multi-stage firm.
The firm has also seen 13 portfolio companies achieve unicorn status this year, underlining the fund’s long track record of picking category leaders early. Companies where Balderton invested at Seed or Series A, include Aircall, Beauty Pie, ComplyAdvantage, Contentful, Depop, Dream Games, GoCardless, Infarm, Labster, Revolut, Vestiaire Collective and Zego
Balderton Capital is a very different firm than it was 12 months ago. We have not only launched two new funds, but have grown and strengthened our team. We have entered a new era in which we will be able to operate at a different pace and with a broader view of when we can support founders. Our transition from Europe’s leading Series A investor to a multi-stage fund gives us more firepower and flexibility and helps us to uncover more hidden gems among Europe’s startups.
Balderton’s portfolio companies have collectively raised more than $6bn in follow-on funding this year, almost double the $3.1bn raised in the entirety of 2020. Four portfolio companies – Darktrace, Flywire, SOPHiA Genetics and Truecaller – have also gone public in landmark European IPOs and the firm has seen 10 exits, including Peakon’s sale to Workday, Nutmeg’s sale to JPMorgan Chase and Depop’s sale to Etsy.
With Europe on track to raise a record $70bn of venture capital investment by the end of the year, more than twice the total for 2020, Balderton Capital has doubled down on its commitment to building the next generation of global tech companies from the region.
The firm is one of only a handful of genuinely pan-European investors with partners in key hubs across the region. The firm has raised four funds totalling close to $2bn since 2018 and has active investments in more than 100 companies, employing more than 26,000 people in 50 countries around the world.
The new fund will be sector agnostic and managed by Balderton’s investment team of 25 working across Europe. The equal partnership will work together to share experience and insights to the benefit of the entire portfolio.
The Balderton investment and portfolio services team has now grown to over 30 people.
Balderton’s portfolio companies benefit from its Build with Balderton platform of talent, marketing, finance and legal services. The Platform is wholly focused on giving founding teams the help they need to scale, including access to operational and functional services and an active community of peers.
Balderton’s Platform continues to expand, and the firm has added 13 people to its team in the last year, including Dave Kellogg, Balderton’s first executive-in-residence. Founding teams also gain access to the global industry leaders of the Balderton Executive Council; the CEO Collective offsite; and events and workshops hosted at the firm’s Kings Cross headquarters and across Europe.
Balderton has also reaffirmed its commitment to building a sustainable and fair venture firm by publishing its Sustainable Future Goals – 60 objectives designed to reduce its impact on the environment, increase its social diversity and improve its governance.
Recognising the role that investors play in creating a more sustainable and equal economy, Balderton is sharing its SFGs with portfolio companies and working with them to take action to improve performance against the goals.
Balderton was also proud to be awarded Level 2 Certification of the Diversity VC Standard in 2021, meaning the firm is considered to be leading the way on Diversity and Inclusion policy.
Seaya Ventures and Cathay Innovation today announced the first close of a $125M multi-sector fund for startups across Latin America redefining industry and society. Based out of Mexico City, the Seaya Cathay Latam Fund aims to be the direct link for local, purpose-driven entrepreneurs to the worldwide resources needed to build and scale resilient businesses leading markets on the regional or global stage.
The new fund invests in transformative technology companies focusing on Series A and B with reserves for follow-on rounds. It also embeds sustainability into the investment cycle to give startups the tools to grow responsibly while maximizing impact. This includes consumer and enterprise startups in fintech and proptech to mobility, healthtech, food, agriculture, cybersecurity and more. In September, the team made its first investment in Chilean fintech Xepelin’s $230M round. Other previous investments in the region include Mexico’s Kueski and Lana, Brazil’s Facily and alt.bank, Colombia’s RobinFood and Chile’s Fracttal.
“We’re looking for exceptional founders building innovative technologies and business models that will have a lasting, positive impact on Latin America,” said Beatriz Gonzalez, Founder and Managing Partner, Seaya Ventures. “With Cathay’s global reach and Seaya’s local edge, we can bring real value by helping startups capitalize on emerging trends across the world with localized, hands-on support. Our experience helping companies expand to and from Latam, creating global winners, is what sets us apart,” said Pablo Pedrejón, Principal, Seaya Ventures.
The news follows April’s formal partnership announcement, which brought together both firm’s expansive investment platforms, combining Seeya’s local edge, and Cathay’s corporate ecosystem of investors and strategic partners covering Europe, North America, Asia, Africa and Latin America. By fusing local expertise with a global platform under a single fund, Latam startups can gain unique value beyond capital with access to deep, multi-sector insights along with potential corporate partners or customers to fuel business development and activate growth.
“Latam is approaching the tipping point with a burgeoning tech sector and rising middle-class fueling rapid growth,” said Jacky Abitbol, Managing Partner, Cathay Innovation. “Similar to what we saw in China and Southeast Asia, there’s a large equity gap, a growing talent pool and VC allocations. Startups can now adapt innovation to local market needs, building inclusive, digital-first industries from the ground up. With our Latam fund, and a joint platform of $4.6B AUM, we can invest and follow along every step of this entrepreneurial journey — something unique in the market today.”
The teams have proven track records investing in 17 unicorns and several breakout startups including Spain’s Glovo, Cabify and Wallbox (NYSE:WBX) as well as Chime Bank in the US, Paris-based Ledger and China’s Pinduoduo (NASDAQ:PDD). Leading local investments for the Latam fund is Federico Gómez Romero, who brings over 12 years of experience and most recently led Latam activities for seed fintech fund Accion Venture Lab. Previously, he was an investment banker at Lazard before launching several startups and becoming CEO at Credility, an SME lending platform in Argentina.
To learn more, please visit www.sclatam.com
About Seaya Ventures
Seaya Ventures is a leading European & Latin-American Venture Capital firm based in Spain, investing in value-driven founders who are building global technology companies with a sustainable approach. Since raising its first fund in 2013, Seaya manages $350M across three early-stage funds. Seaya Ventures accelerates startup growth by working with the founders to enhance their strategic vision, putting at their disposal its global platform, its strong network of founders, investors and corporates, as well as Seaya’s experience in scaling leading companies such as Glovo, Cabify, Wallbox (NYSE:WBX), Spotahome, Clarity AI, Clicars and Savana.
About Cathay Innovation
Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital, investing in startups at the center of the digital revolution across North America, Latin America, Europe, Asia and Africa. Its global platform unifies technology investment across continents, investors, entrepreneurs and leading corporations to accelerate startup growth with access to new markets, invaluable industry knowledge and introductions to potential partners from the start. As a multistage fund with over $1.5 billion assets under management and offices across San Francisco, New York, Paris, Shanghai, Beijing and Singapore, Cathay Innovation partners with visionary entrepreneurs and startups positively impacting the world through technology.
