Category Archives: News

Silver Lake Launches $400 Million Digital Infrastructure Platform with Adam Fisher and Peter Rumbold

Silverlake

Innovative, strategic partnership addresses escalating demand for AI and cloud workloads by delivering turnkey powered land and related energy generation solutions for data center development

MENLO PARK, Calif. & NEW YORK – Silver Lake, the global leader in technology investing, and Adam Fisher and Peter Rumbold, principals at Commonwealth Asset Management with deep expertise in real estate and infrastructure investing, today announced the launch of a digital infrastructure platform with $400 million of capital to assemble a global portfolio of strategically located powered land sites to address the key scarce input in meeting the escalating demand for data centers.

The company brings together Silver Lake’s extensive expertise in data center development and its deep relationships in the technology ecosystem with Messrs. Fisher and Rumbold’s proven track record across real estate and infrastructure, providing a comprehensive suite of solutions for cloud and artificial intelligence (“AI”) data center deployments. By integrating grid power and behind-the-meter generating solutions into scalable land sites, the platform’s approach ensures rapid energization and maximizes land site readiness, significantly enhancing strategic value for data center developers and technology companies.

The platform is currently operating in and targeting strategic, high-growth markets across the U.S., Canada and the U.K., where power access is becoming an increasingly scarce critical resource.

“This investment represents a long-term commitment to not only meeting the immediate needs of AI-driven data center growth but also positioning the company as a leader in the future of digital infrastructure and a one stop shop for rapidly growing developers and hyperscalers,” said Lee Wittlinger, Managing Director at Silver Lake. “Our innovative approach to land and power solutions, combined with strategic relationships with key energy partners, will enable us to meet the evolving demands of hyperscalers with a holistic, differentiated approach.”

“Data centers are a critical infrastructure in modern society and with the immense growth of AI and cloud computing, the ability to deploy large-scale data centers rapidly with secure, scalable power is crucial,” said Adam Fisher. “With our combined expertise at the cross section of real estate, infrastructure and technology, we’re excited to partner with Silver Lake to create a platform that is uniquely positioned to take advantage of this demand by providing turnkey land and power solutions in highly strategic global locations to transform the future of digital infrastructure.”

Global power demand from data centers is projected to increase 50% by 2027, with forecasts indicating a potential rise of up to 165% by the end of the decade, highlighting the growing need for efficient, scalable energy solutions1. With a planned portfolio of over six gigawatts of power across multiple global markets, this new platform is well positioned to capitalize on the immense need for power being driven by hyperscalers.

About Silver Lake
Silver Lake is a global technology investment firm, with approximately $103 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $254 billion of revenue annually and employ approximately 456,000 people globally.

 

About Adam Fisher
Adam is the Founder and Chief Investment Officer of Commonwealth Asset Management. Over the last 18 years, Adam has successfully built and led numerous investment management practices across both public and private markets. Prior to launching Commonwealth, Adam served as the Global Head of Macro and Real Estate for a New York-based Family Office and founded and served as the CIO of Commonwealth Opportunity Capital, a global macro hedge fund.

 

About Peter Rumbold
Peter Rumbold is the President of Commonwealth Asset Management and oversees all of the firm’s real estate investment activities. With over 20 years of experience, Peter has held real estate investment roles at several firms including a New York-based Family Office, Winter Properties LLC, Cerberus Real Estate Capital Management, LLC and Sterling American Property, Inc.

1 Goldman Sachs. (2025, February 4). AI to drive 165% increase in data center power demand by 2030. https://www.goldmansachs.com/insights/articles/ai-to-drive-165-increase-in-data-center-power-demand-by-2030. Accessed 15 May 2025.

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Carlyle AlpInvest Closes Largest Publicly Rated GP-Led CFO at $1.25 Billion

Carlyle

Transaction Marks the Second Carlyle AlpInvest CFO in 10 months

Offering Follows $1 Billion CFO Completed in October 2024 

New York, NY – August 7, 2025 – Carlyle AlpInvest, a leading global private equity investor, today announced the closing of its second Collateralized Fund Obligation (“CFO”) offering, totaling $1.25 billion. The transaction marks Carlyle AlpInvest’s third securitization transaction and the largest publicly rated GP-led CFO to date.

Building on the success of Carlyle AlpInvest’s $1 billion CFO completed in October 2024, this latest offering demonstrates sustained investor demand for innovative, structured access to diversified private equity exposure. With $2.25 billion in aggregate issuance across the two transactions, Carlyle AlpInvest continues to scale its capabilities in securitization, structured products and portfolio finance to meet the growing appetite for private market solutions tailored for insurance companies and other institutional investors.

Consistent with its predecessor, Carlyle AlpInvest’s latest CFO was designed to offer access to diversified private equity investment content across strategies, geographies, and vintages. The underlying portfolio includes broadly diversified exposure across Carlyle AlpInvest’s flagship private equity secondaries, portfolio finance, and co-investment strategies. A broad range of institutional investors, including insurance companies, asset managers, banks and family offices, participated in the CFO.

Michael Hacker, Partner and Global Head of Portfolio Finance at Carlyle AlpInvest, emphasized, “This CFO transaction is another milestone for Carlyle AlpInvest that showcases the convergence of our core capabilities: our ability to originate compelling private market portfolios through our secondaries and portfolio finance platform, and our expertise in providing structured solutions that can also meet growing demand for capital-efficient exposure to private markets.”

Matthew Romanczuk, Managing Director at Carlyle AlpInvest added, “The reception to the CFO validates our thesis that certain institutional investors increasingly value structured exposure to diversified private equity portfolios with high-quality underwriting, operational transparency, and attractive risk-adjusted return potential.”

Carlyle AlpInvest recently raised over $4 billion for its Portfolio Finance platform, which delivers tailored financing solutions to private equity funds, general partners, and limited partners. Of this total, $3.2 billion was raised for AlpInvest Strategic Portfolio Finance Fund II (“ASPF II”), inclusive of parallel SMAs and co-investments.

Evercore served as lead bookrunner, lead structuring agent and joint placement agent for the transaction. TCG Securities and Wells Fargo Securities, LLC acted as co-structuring agent, joint placement agent and co-manager, and Ropes & Gray LLP served as legal advisor to Carlyle AlpInvest.

About Carlyle AlpInvest

Carlyle AlpInvest is a leading global private equity investor with $97 billion of assets under management and more than 600 investors as of June 30, 2025. It has invested with over 380 private equity managers and committed over $100 billion across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. AlpInvest employs more than 230 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlylealpinvest.com.

Media Contacts

Kristen Ashton
+1 212-813-4763

Kristen.Ashton@carlyle.com

 

Isabelle Jeffrey
+1 (212) 332-6394
Isabelle.Jeffrey@carlyle.com

Categories: News

Diot-Siaci announces new ownership structure with Ardian, the Burrus Group and management

Ardian

The Diot-Siaci Group, an independent European leader in corporate insurance brokerage, and Ardian, a world-leading private investment firm, announce the signing of a definitive agreement after exclusive negotiations regarding the Group’s new ownership structure. Upon completion of the transaction, Ardian will become Diot-Siaci’s lead financial shareholder, alongside the Burrus Group, a long-standing shareholder, and the management team. The new capital structure will establish joint control governance between Ardian and the Burrus Group.

As a long-standing shareholder of the Group since 2015, Ardian is now increasing its stake in Diot-Siaci to become its main financial shareholder by acquiring the shares held by Ontario Teachers’ Pension Plan (Ontario Teachers’), Bpifrance, Cathay Capital and other minority shareholders.

A reinforced ambition: international growth and market consolidation

Building on their shared history and renewed mutual trust, Diot-Siaci’s management team is demonstrating its full commitment to the transaction through a significant reinvestment in the company’s capital. The management team welcomes Ardian’s full support in accelerating Diot-Siaci’s growth, particularly in major industrial risks, marine insurance, personal insurance, human resources consulting, credit insurance, international mobility, and reinsurance across its key markets in Continental Europe, the United Kingdom, Asia, the Middle East, and Africa.

With this transaction, the Group reinforces its global capabilities and strengthens its position among the world’s leading industry players. Diot-Siaci’s dynamism, combined with Ardian’s expertise, will help bolster the Group’s long-term growth trajectory.

Ardian and the Burrus Group will jointly control the company to support Diot-Siaci as it enters a new phase of development

The new capital structure is accompanied by the establishment of joint control governance between Ardian and the Burrus Group, which aims to support this ambitious new phase of growth.

The Group will continue to be Co-Chaired by Pierre Donnersberg and Christian Burrus, and led by Cédric Charpentier, Chief Executive Officer.

This transaction remains subject to approval by the relevant regulatory and competition authorities.

“We are thrilled to be joining forces with the Burrus Group, Pierre Donnersberg and the entire management team led by Cédric Charpentier to support Diot-Siaci in the next stage of its development. Together, we have ambitious plans to make Diot-Siaci the leading independent insurance and reinsurance brokerage group with European roots.” Thibault Basquin, Co-head & CIO of Buyout and Member of the Executive Committee, Ardian

“In addition to the commitment from our Buyout fund, we have successfully raised more than €700 million in less than two months from institutional partners to co-invest in this deal, including several sovereign wealth funds and international investors. This demonstrates the confidence of these leading investors in Ardian’s ability to support blue-chip companies in their ambitious growth strategies.” Olivier Personnaz, Managing Director and Head of Buyout Equity Capital Markets, Buyout, Ardian

In this regard, Mubadala is renewing its confidence in the Group by increasing its investment alongside Ardian.

“Diot-Siaci is a company we know intimately, and whose entrepreneurial vision and long-term ambitions we fully share. In a sector undergoing major reorganization, Diot-Siaci has all the assets to play a leading role in the consolidation of the sector.” Edouard Level, Director, Buyout, Ardian

“We’re proud to have supported Diot-Siaci following the merger between Siaci Saint Honoré and Diot four years ago. Since our entry in 2021, its revenues have multiplied by 1.6 times to reach EUR1 billion and, today we can say Diot-Siaci is a leader in the European corporate insurance broker market which we have helped expand into Middle East and Africa. It is another great example of our partnership with management teams in our financial and insurance services portfolio of investments, where we have a demonstrated track record of success over the last three decades.” Inaki Echave, Head of EMEA Private Capital, Ontario Teachers’

“Ardian’s arrival in our capital demonstrates the market’s confidence in the continued development of our Group and its teams, and will enable us to pursue our strategy of strong international growth.” Cédric Charpentier, CEO, Diot-Siaci

“This new shareholding structure gives us the means to go even further and continue our growth in high-potential areas of the world.”Pierre Donnersberg & Christian Burrus, Co-Chairs, Diot-Siaci

Participants

  • Ardian

    • Thibault Basquin, Olivier Personnaz, Edouard Level, Jean-Baptiste Hunaut, Claire Chavaillard, Jack Czapalski, Martin Blanc, Gregory Buscayret, Juliette Cassan, François-Aïssa Touazi, Helen Lee-Bouygues, Aris Toranian, Jason Yao, Isabelle Fan, Colin Wang
    • Andy Wu, Mengqi Zhao
    • M&A advisor: Evercore (Charles Andrez, Raoul Mansour, Charlotte Lefort, Adrien Prothery)
    • Commercial and Operational Due diligence: BCG (Jean-Christophe Gard, Benjamin Entraygues, Nadine Moore, Florian Vergnaud, Jocelyn Lescouezec)
    • IT Due diligence: BCG (Philippe Savary, Bastien Goetschel)
    • Financial Due diligence: PwC (Céline Appel, François-Xavier Bornet, Amine Mimita, Salah Ben Kacem, Arthur Couderc, Jules Passemard, Rayanne Manfoumby)
    • Legal Due diligence: PwC (Eric Hickel, Olesya Monegier du Sorbier, Maximilien Jatteau, Lucie Jacquesy)
    • Social Due diligence: PwC (Aurélie Cluzel-d’Andlau, Fanny Marchiset)
    • Tax Due diligence: PwC (Caroline Chaize-Lang, Sarah Dezes, Emma Stearns)
    • Legal advisor: Weil Gotshal & Manges – M&A/PE Practice (David Aknin, Pierre-Alexandre Kahn, Romain Letard, Messan Dogbevi, Floriane Egraz), Banking & Finance Practice (Tom Richards, Tanya Jain, Kai Zhang, Ashley Ken)
    • Tax Practice (Edouard de Lamy, Axelle Trintignac), Antitrust Practice (Marc Lordonnois, Martin Ellie, Ornella Polito)

  • Ontario Teachers’

    • Ontario Teachers’ investment team: Francois Stoessel, Julia Codron-Konieczny, Hechmi Kilani
    • Financial advisor: Morgan Stanley (David Benichou, Thomas Denizeau, Fabien Marchese)
    • Legal advisor: M&A/PE (Gaëtan Gianasso, Julia Lefevre, Blaise Olympio), Banking & Finance (Aurelien Lorenzi), Tax (Xavier Renard, Hugo Matricon), Antitrust (Mathilde Saltiel)

  • Bpifrance Investissement

    • Stephen Fargis, Aurélien Auvray, François de Forton

  • Diot-Siaci

    • M&A advisors: Messier (Jeremy Langlois), NewCo (Jean-Louis Duverney-Guichard)
    • Financial Due diligence: 8Advisory (Guillaume Catoire)
    • Commercial Due diligence: Roland Berger (Christophe Angoulvant, Alain le Pomellec)
    • Legal, Social, Tax, IT / IP Due diligence: EY (Géraldine Roch, Sandrine Lèbre, Vincent Natier, Cédric Lantonnois van Rode, Sandrine Cullaffroz)
    • Financing advice: Malborough Partners (Benjamin Weyl, Alexandre von Rakowski)
    • Legal advice: Scotto & Partners (Adrien Badelon, Coralie Oger, Emilie Renaud, Alban Tourneux), Valther (Bruno Fiacre, Adina Mihaescu), Mayer Brown (Benjamin Homo), Orrick (Laurent Olleon),
    • Freshfields (Stéphanie Corbières, Marie Roche, Petya Katsarska, Jérôme Philippe)

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

ABOUT DIOT-SIACI

Diot-Siaci is a leading insurance and reinsurance consulting and brokerage group in France and Europe, with strong positions in Asia, the Middle East and Africa. It designs and develops innovative, tailor-made solutions for its clients, including large corporations, mid-sized companies, SMEs and professionals, in both personal insurance and property and liability insurance, in line with its CSR commitments. Diot-Siaci has a stable and independent shareholder base, enabling it to support its clients in their development and transformation. It meets their needs across the entire value chain in property and liability insurance, social protection (health, personal protection, retirement), HR consulting and international mobility, credit insurance, surety and financing, captive management and reinsurance. With more than 7,000 employees and revenue of over €1 billion in 2024, the group operates worldwide through its own offices and its Diot-Siaci Global Partners network.

diot-siaci.com

ABOUT ONTARIO TEACHERS

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of $266.3 billion as at December 31, 2024. Ontario Teachers’ is a fully funded defined benefit pension plan, and it invests in a broad array of asset classes to deliver retirement security for 343,000 working members and pensioners.

otpp.com

Press contact

Ardian

Headland

ardian@headlandconsultancy.com

Diot-Siaci

Havas

diot-siaci@havas.com+33 (0) 6 09 01 68 25

OTPP

KEKST CNC

otpp@kekstcnc.com

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Apollo Prices Offering of Senior Notes

Apollo logo

NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) (the “Issuer” and, together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering (the “Offering”) of $500 million aggregate principal amount of its 5.150% Senior Notes due 2035 (the “notes”).

The notes will be fully and unconditionally guaranteed by certain subsidiaries of the Issuer that are obligors under the Issuer’s outstanding debt securities. The Offering is expected to close on August 12, 2025, subject to customary closing conditions.

The notes will bear interest at a rate of 5.150% per annum, payable semi-annually in arrears on February 12 and August 12 of each year, commencing on February 12, 2026.

The net proceeds from the Offering will be approximately $495.5 million, after deducting the underwriting discount but before Offering expenses. Apollo intends to use the proceeds from the Offering for general corporate purposes, including to repay, upon the consummation of the previously announced acquisition of Bridge Investment Group Holdings Inc., all issued and outstanding senior secured notes of Bridge Investment Group Holdings LLC (“Bridge LLC”) (collectively, the “Bridge Senior Notes”) and certain other indebtedness of Bridge LLC, and to pay related fees and expenses in connection with the Offering and the use of proceeds therefrom.

Citigroup Global Markets Inc., BofA Securities, Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers. Apollo Global Securities, LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., HSBC Securities (USA) Inc., MUFG Securities Americas Inc., Drexel Hamilton, LLC and Siebert Williams Shank & Co., LLC are acting as co-managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The Offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Citigroup Global Markets Inc., telephone: 1-800-831-9146; BofA Securities, Inc., telephone: 1-800-294-1322; Barclays Capital Inc., telephone: 1-888-603-5847 and Goldman Sachs & Co. LLC, telephone: 1-866-471-2526.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release shall not constitute a notice of redemption with respect to the Bridge Senior Notes.

Forward-Looking Statements

In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the completion of, and the use of proceeds from, the sale of the notes, the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “target” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management’s assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, the ability of Athene Holding Ltd. (“Athene”) to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in the Issuer’s annual report on Form 10-K filed with the SEC on February 24, 2025, as such factors may be updated from time to time in the Issuer’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Issuer’s other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of Apollo or any Apollo fund.

Contacts

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

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

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AVS Bio, an Arlington Capital Partners Portfolio Company, Expands Antibody Discovery and Protein Production Capabilities with Acquisition of ImmunoPrecise Antibodies Europe from ImmunoPrecise Antibodies Ltd.

WASHINGTON, D.C. and NORWICH, CT – August 6, 2025 – Arlington Capital Partners (“Arlington”), a Washington, D.C.-area private investment firm specializing in government regulated industries, today announced that its portfolio company AVS Bio, a leading global provider of critical inputs and services for the bioprocessing and biologics industries, acquired ImmunoPrecise Antibodies (Europe) B.V. (“IPA Europe” or the “Company”).  IPA Europe is a carve-out of ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA), a biotherapeutics company leveraging proprietary technologies, including its LENSai™ platform, to accelerate the discovery of next-generation biologics. The acquisition expands AVS Bio’s European footprint and adds advanced capabilities in antibody discovery, protein expression, and organoid growth factor development and manufacturing to its growing service portfolio.

With facilities in both Utrecht and Oss in the Netherlands, IPA Europe offers a comprehensive suite of antibody discovery, engineering, and characterization services. In addition to its industry-leading hybridoma and B-cell screening platforms, the Company has deep expertise in recombinant protein expression and offers scalable protein production for both research and pre-clinical applications. These capabilities enable IPA Europe to serve as a true end-to-end partner for biotechnology and pharmaceutical companies developing next-generation biologics including antibody-based therapeutics, novel diagnostics, and vaccines. Following the acquisition, IPA Europe will continue to operate under its existing management as a strategic European hub within AVS Bio’s brand and network which serves large-scale pharmaceutical customers globally across both human and animal health markets.

Jac Price, CEO of AVS Bio, said, “IPA Europe brings exceptional technical capabilities and a reputation for scientific rigor that aligns perfectly with our mission to support customers from early discovery through commercial manufacturing. This acquisition significantly enhances our service offering and geographic reach, and we’re excited to welcome the IPA Europe team into the AVS Bio family.”

“This acquisition reflects AVS Bio’s strategic commitment to grow through both organic investment and targeted M&A,” added Malcolm Little, a Partner at Arlington Capital Partners. “IPA Europe is a natural fit, offering complementary capabilities in antibody discovery and recombinant protein manufacturing that will accelerate AVS Bio’s expansion into the upstream biologics R&D value chain. This transaction marks a key milestone in AVS Bio’s broader strategy to build a diversified biologics services platform serving the therapeutic innovation markets.”

Ilse Roodink and Roland Romijn, General Managers of IPA Europe, together commented, “We’re thrilled to join forces with AVS Bio. Their platform offers immediate opportunities for us to scale our operations, invest in next-generation technologies, and better serve our clients with an end-to-end continuum of biologics development capabilities.”

Arlington has an extensive track record of building leading companies in highly regulated industries that are critical to healthcare infrastructure, government systems and national security. Within healthcare, Arlington focuses on working with businesses that save lives, improve the delivery of products and services and reduce costs for patients and providers. Other notable recent healthcare sector investments the firm has made include Afton Scientific, Everest Clinical Research, Grand River Aseptic Manufacturing, Millstone Medical Outsourcing, Riverpoint Medical, and TEAM Technologies.

Edgemont Partners served as exclusive sell-side advisor to ImmunoPrecise Antibodies Ltd. in connection with the transaction.

About Arlington Capital Partners
Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. The firm partners with founders and management teams to build strategically important businesses in the healthcare, government services and technology, and aerospace and defense sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at www.arlingtoncap.com and follow Arlington on LinkedIn.

About AVS Bio
Headquartered in Norwich, CT, AVS Bio is a global provider of specific pathogen free (“SPF”) laboratory products and services that support the development and manufacture of vaccines, therapeutics, and biologics. The Company supplies leading manufacturers with critical bioprocessing inputs including SPF eggs, antigens, and antibodies, and also offers diagnostic testing and GMP support services. AVS Bio operates over 20 facilities across North America and Europe and is a portfolio company of Arlington Capital Partners. For more information, visit AVS Bio’s website at www.avsbio.com.

About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA) is advancing Bio-Native™ AI at the intersection of biology and computation. The Company’s LENSai™ and HYFT® platforms enable large-scale reasoning across sequence, structure, function, and scientific literature, powering next-generation workflows across drug discovery, diagnostics, vaccine design, and molecular systems biology.

About IPA Europe
IPA Europe, based in Utecht and Oss, the Netherlands, provides comprehensive services in antibody discovery, engineering, and functional characterization as well as recombinant protein and organoid growth factor development and production. With a focus on innovation and quality, IPA Europe supports leading biotech and pharmaceutical companies across the globe in the development of next-generation biologics.

Media Contact

Ryan FitzGibbon

Pro-arlington@prosek.com

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Elysian Capital III LP supports Activate Group Holdings Limited to acquire Avant Group

Elysian Capital

Elysian Capital is pleased to announce further investment in Fund III portfolio company, Activate Group Holdings Limited (“Activate”) to support the acquisition of Avant Consult Ltd (“Avant Group”).

Activate provides accident management services to insurance groups and corporate fleet operators through its MRN and Sopp+Sopp brands, undertaking the vehicle repairs either in house through its own network of repair centres or externally through its network of third-party repair centres. Elysian Capital is supporting management in their expansion of the Group through both organic and acquisitive growth.

Avant is a well-established collision repair specialist known for its manufacturer programme expertise, bodyshop management technology, and award-winning repair network. As part of the deal Activate Group has acquired Avant Group’s three key brands: Avant Consult, Avant Repair Network and Bodynet.

The move brings together two highly complementary businesses with shared strengths in the insurance, fleet and repair sectors – with a combined track record of managing hundreds of thousands of motor claims each year.

Avant’s leadership team will remain in place. Mark Johnstone will continue to head up the business, joining the Activate Group Executive Team as Managing Director of AvantGroup.

Hannah Wilcox, Activate Group CEO said:

“This marks a significant milestone for Activate Group. Avant Group’s particular expertise enhances our existing proposition and supports our ambition to deliver the UK’s most advanced, end-to-end accident and repair solutions. Together, we’re giving insurers, fleets and partners even more reasons to choose our services.”

Mark Johnstone added:

“Joining Activate Group is the next natural step in our growth. We’re proud of the service and culture we’ve built, and the strong relationships we have with our clients and repair partners. Becoming part of Activate Group gives us the opportunity to grow faster, expand our reach and bring even more value to our clients, partners and people, and we’re excited about what we can now achieve together.”

Elysian Capital and Activate were advised by: Squire Patton Boggs (legal); Eight Advisory (financial and tax); and Aon (Insurance). The shareholders of Avant were advised by Brown Butler (corporate finance); and Weightmans (legal).

Contact

Elysian Capital LLP

Manfield House

1 Southampton Street

London

WC2R 0LR

T: +44 (0) 207 925 80 50

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Servier and BC Partners enter exclusive negotiations for the sale of Biogaran

BC Partners Logo
  • BC Partners is excited to support Biogaran in building a French-headquartered, industry-leading supplier of high-quality generic medication.
  • Leveraging its deep pharmaceutical sector expertise, operational insight, and long-term capital, BC Partners aims to help accelerate growth while continuing to champion essential, affordable healthcare in France.
  • With nearly four decades of investment experience in France, BC Partners is a trusted partner to local entrepreneurs, founders, and management teams.

Servier, an international pharmaceutical company governed by a foundation, and BC Partners, a leading European investment firm, have today announced that they have entered into exclusive negotiations regarding BC Partners’ acquisition of Biogaran, one of France’s largest generic drug companies. The terms of the transaction were not disclosed.

Biogaran, a leader in the generic market in France and an active contributor to cost savings in the French healthcare system, was founded by Servier over 25 years ago. Over the years, the company has established itself as a key player in the pharmaceutical industry. Today, Biogaran offers treatments across the full spectrum of therapeutic areas — from everyday conditions to the most serious diseases — and supplies a wide range of medicines, including antibiotics, antidiabetics, and anticancer drugs.

In partnership with management, BC Partners will continue to build on the company’s position as a critical provider of generic pharmaceuticals to the French market, whilst helping to fuel further expansion in biosimilars and consumer healthcare products, which have been identified as major new cost-saving drivers for the French healthcare system.

BC Partners, founded in Europe, brings extensive experience in the French market, having invested more than €4 billion across France and the Benelux region since opening its Paris office in 1987. BC Partners combines this local presence with a strong track record of partnering with healthcare leaders and innovators, including investments in companies such as Pharmathen, Synthon, and France-based Havea, making it a natural partner of choice for Biogaran.

Cédric Dubourdieu, Partner and Head of France at BC Partners, added: “Biogaran is a recognised leader in the French healthcare sector, with a rich history and a compelling opportunity for continued growth. We look forward to helping drive the business forwards, in partnership with management, while respecting the vital role Biogaran plays within France’s healthcare landscape, and French society more broadly.”

Mark Hersee, Partner and Co-head of Healthcare at BC Partners, commented: “Biogaran is a pioneer in generic drugs, a market we know incredibly well, and one where we have developed tried-and-tested playbooks for growth over many years. Our experience in this space, from successful investments in generic pharmaceutical leaders such as Pharmathen and Synthon, means we are well positioned to help the company identify opportunities and boost its full potential.”

“We see this potential sale as a fantastic opportunity for Biogaran’s future. It is fully in line with Biogaran’s vision and strategy to consolidate our position as the leader in generic drugs in France, while expanding into new high-potential market segments. This would enable us to continue to fully embody our mission of contributing to the sustainability of the French healthcare system for the benefit of patients and healthcare professionals by ensuring better access to care. We look forward to working with BC Partners.” said Guillaume Recorbet, CEO of Biogaran.

“This project would be perfectly in line with the strategic orientations of Biogaran and Servier. On the one hand, this project would entail new ownership for Biogaran that would boost its development potential. BC Partners is a leading European investor and would be perfectly positioned to lead the next stage of development for Biogaran, in line with the interests of its stakeholders, which is a strategic condition for Servier. On the other hand, the proceeds from this transaction should enable Servier to accelerate its focus, particularly on innovative treatments in oncology and neurology, and to continue creating value in France, as we have been committed to doing for more than 70 years.” said Olivier Laureau, president of Servier.

Servier was advised by Lazard and Dentons for this project. BC Partners was advised by Rothschild & Cie, Kirkland & Ellis, Gide Loyrette Nouel and Eight Advisory.

The proposed transaction remains subject to the finalisation of definitive agreements, the appropriate employee representative processes, and the usual regulatory approvals.

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DentalXChange Announces Recapitalization with KKR to Advance Technology and Innovation in Dental Revenue Cycle Management

KKR

KKR’s strategic investment to accelerate DentalXChange’s product development and scalable growth to drive value creation across the industry

IRVINE, Calif.–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the recapitalization of DentalXChange (“DXC” or the “Company”), a leading provider of revenue cycle management (RCM) solutions for the U.S. dental market. In connection with the transaction, Bregal Sagemount exited its investment in DXC, following a successful strategic partnership with the Company.

As a critical technology partner for the dental ecosystem for over three decades, DXC facilitates more than two billion transactions annually and helps industry stakeholders navigate the complexities of dental RCM. The Company’s comprehensive product suite combined with strong collaboration with payers, providers, and practice management system partners has enabled DXC to deliver significant efficiencies in the ecosystem, which are poised to accelerate over the coming years.

“We seek opportunities where we can serve as differentiated partners with management teams to build world-class businesses that can positively impact the healthcare system. We have long admired the important role that DXC plays in the dental value chain, with its robust network and best-in-class solution set,” said Hunter Craig, Managing Director at KKR. “Customers consistently view DXC as a collaborative and innovative business partner, and we look forward to helping the Company further expand its capabilities and streamline operations for all stakeholders,” added Alex Ward, Director at KKR.

“KKR’s deep expertise across the dental landscape, experience with technology-led innovation and extensive network of key industry partners will meaningfully accelerate DXC’s next phase of growth,” said DentalXChange CEO, Paul Kaiser. “We look forward to expanding our use of automation and AI to reduce administrative complexity, enhance provider workflows, and create a seamless payer experience.”

“It has been a privilege to partner with the DXC team and support the Company’s growth through key investments in technology and talent,” said Bregal Sagemount Partner, Blair Greenberg. “We are proud of what we accomplished together and wish the team continued success in this next phase of growth,” added Phil Yates, Partner at Bregal Sagemount.

DentalXChange will continue to operate under its current leadership team, led by CEO Paul Kaiser.

As part of the recapitalization, KKR will support DXC to create a broad-based equity ownership program, which will provide equity to all employees at the Company, enabling the full DXC team to participate in growth and value creation. This broad-based equity strategy is based on the belief that team member engagement through ownership is a key driver in building stronger companies. Since 2011, 70 KKR portfolio companies have awarded billions of dollars of total equity value to nearly 170,000 non-senior management employees.

KKR is making its investment in DentalXChange through its Ascendant Fund, which invests in middle market businesses in North America as part of KKR’s Americas Private Equity platform.

TripleTree served as financial advisor to DentalXChange and Goodwin Procter LLP provided legal counsel to Bregal Sagemount. William Blair served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to KKR.

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.

About DentalXChange

Since 1989, DentalXChange has been on the forefront of modernizing and innovating dental claims creating dental RCM solutions that bring ease to the payments process. Today, it has grown to support a current base approaching 200,000 dental providers and connectivity to nearly 1,400 payer plans. Headquartered in Irvine, CA, through its own clearinghouse, state of art technology consisting of modern APIs, and secure Web portals, DentalXChange processes over 1B EDI transactions, consisting of more than 300MM dental claims annually.

About Bregal Sagemount

Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 70 companies in a variety of sectors, including software, information / data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas. For more information, visit the Sagemount website: www.sagemount.com (http://www.sagemount.com/) or follow us on LinkedIn. (https://www.linkedin.com/company/bregal-sagemount)

Media:
KKR
Brooke Rustad
Brooke.rustad@kkr.com

DentalXChange
Marci Sweet
msweet@dentalxchange.com

Source: KKR & Co. Inc.

 

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MannKind and Blackstone Announce up to $500 Million Strategic Financing Agreement

Blackstone
  • Strengthens MannKind’s capital structure with flexible, long-term, non-dilutive funding
  • MannKind to receive $75 million in cash at closing

DANBURY, Conn., WESTLAKE VILLAGE, Calif. and NEW YORK – August 06, 2025 – MannKind Corporation (Nasdaq: MNKD), a company focused on the development and commercialization of inhaled therapeutic products and delivery devices for patients with endocrine and orphan lung diseases, and funds managed by Blackstone (“Blackstone”) today announced that they have entered into an up to $500 million strategic financing agreement. The financing agreement provides MannKind with non-dilutive capital to advance its short- and long-term growth strategies.

“This strategic financing significantly increases our operating flexibility and provides us substantial access to non-dilutive capital on favorable terms, complementing our strong cash position,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “The funding will support the expansion of our commercial team in preparation for the anticipated launch of the pediatric indication for Afrezza, if approved, continued pipeline advancement, potential business development opportunities, and general corporate purposes. Partnering with the Blackstone team on this transaction positions us to accelerate our next phase of growth and innovation.”

“MannKind has a strong commercial track record, diversified product portfolio, and exceptional management team,” said Jonathan Brayman, Managing Director at Blackstone Credit & Insurance. “This strategic financing provides flexible capital to support MannKind’s growth initiatives while positioning Blackstone as a long-term partner to the company. We believe access to our value creation platform and deep bench of life sciences expertise will support MannKind’s commercialization efforts, as well as its organic and inorganic pipeline.”

The up to $500 million senior secured credit facility consists of a $75 million initial term loan funded at closing, a $125 million delayed draw term loan (DDTL) available for the next 24 months, subject to customary drawdown conditions, and an additional $300 million uncommitted DDTL available at the mutual consent of MannKind and Blackstone. The facility bears interest at a calculated SOFR variable rate plus 4.75% (which may be increased by 25 basis points if a total leverage ratio is exceeded). The facility matures in August 2030 and does not provide for scheduled amortization payments during the term.

About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases.

We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation, depending on the target indication.

With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life.

Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, X or Instagram.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at https://www.blackstone.com/. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about: financing plans, cash position, business development initiatives, commercial team expansion, the potential launch of the pediatric indication for Afrezza, if approved, the expected benefits of the senior secured credit facility, the ability of MannKind to drawdown the $125 million DDTL, and the availability of the $300 million additional DDTL. These statements involve risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intends”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risk that the DDTLs may not be available to MannKind due to failure to meet required drawdown conditions or the inability to obtain consent from Blackstone, the risk that issues that develop in the preparation of data releases and filings may subject us to unanticipated delays, risks associated with the regulatory review process as well as other risks detailed in MannKind’s filings with the Securities and Exchange Commission (SEC), including under the “Risk Factors” heading of its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the SEC on August 6, 2025. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

AFREZZA and MANNKIND are registered trademarks of MannKind Corporation.

For MannKind:
Investor Relations
Ana Kapor
(818) 661-5000
ir@mnkd.com

Media Relations
Christie Iacangelo
(818) 292-3500
media@mnkd.com

For Blackstone:
Thomas Clements
(646) 482-6088
Thomas.Clements@blackstone.com

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Blackstone Announces a Tender Offer for Japan’s Leading IT Services Provider, TechnoPro, its Largest Investment Ever in Japan

Blackstone

Marks the firm’s 24th private equity transaction in Asia since 2024, continuing its work to identify great companies, build businesses, and deliver for investors
 
TOKYO – August 6, 2025 – Blackstone (NYSE:BX) announced today that private equity funds and vehicles managed by Blackstone (“Blackstone”) have announced its intention to make a tender offer for all of the interests in TechnoPro, Japan’s leading IT services provider. This offer, valued at nearly $3.5 billion (~JPY 507 billion), will be the firm’s largest investment to date in Japan across strategies.

TechnoPro is Japan’s leading IT services provider, delivering mission-critical solutions in IT development and product R&D across hardware and software primarily to Japan’s large corporations. It has more than 28,000 engineers and researchers and 2,500 clients in industries such as automotive, IT services, and semiconductor.

Atsuhiko Sakamoto, Head of Private Equity Japan, Blackstone, said: “This is a compelling opportunity that aligns with our strategy of investing in Japan’s future. We are investing in a high-quality IT services provider, which is bolstered by secular tailwinds in the digitization of the economy and artificial intelligence. TechnoPro attracts some of the best talent in the industry and provides mission-critical services that empower Japan’s blue-chip companies. We are excited to bring the full breadth of Blackstone’s scale, resources, and expertise in IT services and AI to help accelerate the company’s growth and its continued success.”

Takeshi Yagi, President, Representative Director and CEO at TechnoPro, said: “Over the past 30 years, TechnoPro has achieved steady growth by leveraging its strengths in sales capabilities, technical expertise, recruitment power, and talent development. As a result, the company has earned the trust of its clients and established itself as a leading player in Japan’s IT services. By collaborating with Blackstone – which boasts a strong track record in AI and digitalization and deep insights into global technology trends – we are confident that TechnoPro is poised to reach even greater heights of success.”

This is Blackstone’s seventh Private Equity investment in Japan, representing significant momentum for the firm and its commitment to the country. This will be the third deal this year for Blackstone Japan’s Private Equity business following the closing of I’rom Group Co., Ltd. and CIMIC Co., Ltd. and its third deal in Japan’s technology sector following the 2024 closings of Sony Payment Services Inc. and Infocom Corporation.

Blackstone has made substantial investments in the Asia Pacific region over the last 20 years and been a builder of businesses. Since 2024, it has executed 24 Private Equity investments and sales across the region, driving transformation for the companies it invests in and working to deliver value for investors.

Blackstone expects to commence the tender offer on August 7, 2025. Please refer to the announcement issued today, titled “Notice Concerning Commencement of Tender Offer for Shares, Etc. of TechnoPro Holdings, Inc. (Code: 6028) by BXJE II Holding KK” for details regarding the terms and conditions of the tender offer.

This press release has been prepared for the purpose of informing the public of the tender offer and has not been prepared for the purpose of soliciting an offer to sell, or making an offer to purchase, any securities. If shareholders wish to make an offer to sell their shares in the tender offer, they should first read the tender offer explanation statement for the tender offer and offer their shares for sale at their own discretion. This press release shall neither be, nor constitute a part of, an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any securities, and neither this press release (or a part thereof) nor its distribution shall be interpreted to be the basis of any agreement in relation to the tender offer, and this press release may not be relied on at the time of entering into any such agreement.

The tender offer will be conducted in accordance with the procedures and information disclosure standards prescribed by the Financial Instruments and Exchange Act of Japan, which may differ from the procedures and information disclosure standards in the United States. In particular, Section 13(e) and Section 14(d) of the U.S. Securities Exchange Act of 1934, as amended, do not and the rules prescribed thereunder do not or may not apply to the tender offer, and the tender offer is not intended to fully conform to those procedures and standards.

The financial advisors to Blackstone and TechnoPro, as well as the tender offer agent (including their respective affiliates) may, in their ordinary course of business, engage in purchases of the shares of TechnoPro for their own account or for their customers’ accounts to the extent permitted under the Financial Instruments and Exchange Act of Japan, and in accordance with Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934, as amended, and other applicable laws and regulations, during the period prior to the commencement of the tender offer or during the tender offer. Such purchases may be conducted at a market price through a market transaction, or at a price determined through negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the applicable person conducting such purchases, or will otherwise be made publicly available.

Unless otherwise specified, all procedures relating to the tender offer are to be conducted entirely in Japanese. If all or a part of the documentation relating to the tender offer is prepared in the English language and there is any inconsistency between the English-language documentation and the Japanese-language documentation, the Japanese-language documentation will prevail.
 
About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Media Contact
Mariko Sanchanta
Mariko.Sanchanta@Blackstone.com
080-8702-7386

Kekst CNC
Blackstone@Kekstcnc.com
090-3239-9348

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