Category Archives: News

Bridgepoint takes majority stake in Equativ

Bridgepoint

Bridgepoint has acquired a majority stake in Equativ, the leading independent ad platform, who it will support in developing the only independent advertising alternative to GAFAM, supporting the Open Web.

Following record growth in 2022, Equativ reached net recurring revenues of $100 million, achieving year-on-year organic growth of 30% and tripling its revenues over the past three years. This partnership with Bridgepoint will accelerate Equativ’s mission: to help publishers and advertisers thrive in an open, independent Web and compete with the dominant – but increasingly vulnerable – walled gardens.

Equativ will benefit from Bridgepoint’s expertise in fast-growing tech companies and extended financial capabilities to amplify its growth across core markets (particularly the United States, which already represents 40% of revenues). Thus, Equativ will keep building its expanding tech stack and strongly accelerate both its organic and external growth strategies. The goal is to create one of the top three Supply Side Platforms (SSP) worldwide.

Founded initially as Smart AdServer, the company expanded as an SSP and continued to grow its vertically-integrated solutions with the acquisitions of LiquidM and DynAdmic, as well as investment in Nowtilus – all leading up to the rebrand of the company as Equativ in 2022. The company is now a global and complete adserver, SSP, and media buying solutions providing a simpler, more transparent, and more efficient advertising journey. Equativ fulfills the promise of advertising technology by harmonizing market interests to benefit industry professionals while respecting consumers.

In 2023, Equativ will continue to innovate, streamlining digital media processes and powering advancements that bolster addressable advertising’s impact. Key among the company’s priorities are maintaining and reinforcing the company’s growth in the CTV and video market – which will reach more than $40 billion in revenues in the US in 2025* – as well as enabling greater data activation in the retail media space.

Arnaud Créput, CEO and Founder of Equativ comments: “After three consecutive years of strong growth, our partnership with Bridgepoint is a key milestone in Equativ’s history as the digital advertising industry continues to rapidly transform. Our vertically integrated platform is now uniquely positioned to offer publishers and advertisers around the world the ability to execute advertising transactions directly and efficiently, without intermediaries, in a brand-safe and transparent environment. This new chapter with Bridgepoint validates our strategy and positioning and will help to provide additional resources to accelerate our investments and achieve our ambitions.”

Olivier Nemsguern, Head of Bridgepoint Development Capital France comments: “Even amid global economic instability, Equativ’s consistent success demonstrates the considerable and accelerating need for independent technology. We have been especially impressed by its emphasis on fuelling mutual gains for all sides of ad trading and providing greater flexibility, which are becoming crucial market priorities as advertisers, agencies and publishers look to optimize returns and revenues. In that perspective, we look forward to working with the Management as we are convinced that we can bring a lot to Equativ through our international platform, our expertise in buy-and-build and our understanding of the adtech universe. Offering an alternative route to efficient advertising outside of walled gardens, Equativ is aligned with what global markets want and need in this fast-paced industry.”

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Investcorp Raises Over $1.2 Billion for Inaugural North America Private Equity Fund

Investcorp

Investcorp, a leading global alternative investment firm, today announced the final closing of Investcorp North American Private Equity Fund I, L.P. (“Fund I” or “the Fund”), which focuses on control buy-out investments in middle market services businesses in North America. Fund I closed at over $1.2 billion in capital commitments from blue-chip institutional investors, including pension plans, family offices, private wealth funds and an insurance company across North America, Europe and the Gulf region.

Fund I currently has a strong portfolio of seven investments in companies across the strategy’s core business services verticals, which align with the team’s deep domain knowledge and expertise. The investment strategy is focused on family- and founder-owned business across six subsectors including: tech-enabled, knowledge & professional, data & information, supply chain, industry and specialty consumer services. Investcorp targets companies that demonstrate resilience while also being well-positioned for market growth through multiple value creation levers.

“We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale,” said Mohammed Alardhi, Executive Chairman, Investcorp. “We are grateful for the trust that our institutional investors have placed in us during this time of greater uncertainty and a more challenging capital raising environment.”

“We are extremely thankful for the support we received from institutional investors in Fund I and remain highly focused on executing our strategy to identify and capitalize on consistent, high quality investment opportunities in this and future funds. We are excited about the potential growth and value creation opportunities presented by Fund I’s existing portfolio companies and our robust pipeline of potential new investments,” added Dave Tayeh, Head of Private Equity, North America.

“We are delighted for our North American PE team reaching this important milestone and look forward to continuing our long history of forging strong partnerships with our investors and delivering quality investment opportunities as our capital base continues to grow and diversify,” said Laura Coquis, Global Head of Institutional Capital Raising.

Investcorp’s North America Private Equity group has been investing in North American mid-market businesses for over 40 years and has completed approximately 70 transactions, deploying more than $22 billion in transaction value since inception.

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IK Partners to invest in Responda Group

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has signed an agreement to invest in Responda Group (“the Group”), a leading provider of business process outsourcing (“BPO”) services to small and medium-sized enterprises (“SMEs”) in Sweden. IK is investing from its dedicated pool of Development Capital and is acquiring its stake from the founding management team who will be reinvesting alongside IK. Financial terms of the transaction are not disclosed.

Headquartered in Stockholm, Sweden, Responda AB was founded in 2008 by Joakim Ögren and Magnus Johannessen and later became Responda Group as a result of the acquisition of Kalix Tele24 in 2021. Both companies have an established track record in the industry and its core offering is centred around managing organisations’ customer service through an omnichannel approach consisting of phone, email, online chat and social media.

The Group has 250 employees who are spread across four offices and serve a diversified customer base of approximately 2,500 companies within the private and public sectors. Under the existing management team, the Group has gone from strength to strength and with the support of IK, it hopes to: further broaden its offering for existing customers; continue gaining market share in the SME segment through an enhanced go-to-market strategy; and drive consolidation in the market via strategic add-ons.

Joakim Ögren, Co-Founder and CEO of Responda Group, said: “We strongly feel that a partnership between Responda Group and IK Partners will help us further develop and achieve growth through the pursuit of a successful M&A strategy. Since inception, we have made considerable progress in our field and are proud to have become an industry-leading service provider trusted by highly successful companies in Sweden. We look forward to working with the team at IK and are excited to see where this partnership will take us.”

Carl Jakobsson, Director at IK Partners and Advisor to the IK Small Cap III Fund, said: “Responda Group is Sweden’s market leader in the inbound contact centre services market for SMEs and has great potential for future growth. We are well-positioned to help Responda Group deliver a targeted buy-and-build strategy and to use our extensive network in the Nordic region to support any future geographic expansion. We have been impressed by the Group’s journey to date and look forward to working with the team at Responda Group to help them realise their ambitions.”
Completion of the transaction is subject to legal and regulatory approvals.

About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

About Responda Group
Founded in 2008 in Stockholm, Responda Group is a provider of customer service for Swedish companies. Its range of services includes everything from temporary telephone fitting to overall responsibility for switchboard and customer service. Its services are fully adapted to the customer’s needs and allows the customer to focus on their core business and be confident in the knowledge that the company is represented in an exemplary way. High quality and customer-friendly partnerships are central to the strategy of the business. https://respondagroup.se/

For further questions, please contact:
IK Partners
Vidya Verlkumar Phone: +44 (0) 7787 558 193 vidya.verlkumar@ikpartners.com

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PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

  • Funding is expected to enable next wave of growth for Unified Payments Interface (UPI) and build digital financial services for Indians at scale
  • Announcement follows PhonePe’s recent separation from Flipkart and change of domicile to India

Bengaluru, India and New York, NY – January 19, 2023 – PhonePe, one of India’s largest fintech platforms, today announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion. Marquee Global and Indian investors are also participating in the round. The investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe’s recently announced change of domicile to India and full separation from Flipkart.

PhonePe plans to deploy the new funds to make significant investments in infrastructure, including the development of data centers and help build financial services offerings at scale in the country. The company also plans to invest in new businesses, including Insurance, Wealth Management, and Lending. The fundraise is expected to support PhonePe as it seeks to turbo-charge the next wave of growth for UPI payments in India, including UPI lite and Credit on UPI to enable greater financial inclusion for Indians.

Founded in December 2015, PhonePe has become a home-grown success story, with the company’s significant expansion powered by India’s emerging digital ecosystem. By building products and offerings tailored for the Indian market, PhonePe today has over 400 million registered users, meaning that more than one in four Indians are on PhonePe. The company has also successfully digitized over 35 million offline merchants spread across Tier 2, 3, and 4 cities and beyond, covering 99% of pin codes in the country.

“I would like to thank General Atlantic and all our existing and new investors for the trust they have placed in us. PhonePe is proud to help lead India’s country-wide digitization efforts and believes that this powerful public-private collaboration has made the Indian digital ecosystem a global exemplar. We are an Indian company, built by Indians, and our latest fundraise will help us further accelerate the Government of India’s vision of digital financial inclusion for all,” said Sameer Nigam, Founder and CEO at PhonePe. “We look forward to delivering the next phase of our growth by investing in new business verticals like Insurance, Wealth Management and Lending, while also facilitating the next wave of growth for UPI payments in India.’’

“Sameer, Rahul and the PhonePe management team have pursued a clear mission to drive payments digitalization and significantly broaden access to financial tools for the people of India. They remain focused on driving adoption of inclusive products developed on the open API based ‘India stack.’ This vision is aligned with General Atlantic’s longstanding commitment to backing high-growth businesses focused on inclusion and empowerment,” said Shantanu Rastogi, Managing Director and Head of India at General Atlantic. “We are excited to partner with the PhonePe team to help enable the next generation of digital innovation in India.”

PhonePe also recently announced a full separation from the Flipkart Group. After a partial separation from Flipkart in December 2020, a number of Flipkart shareholders, led by Walmart, acquired shares in the recent separation. This move will allow both companies to chart their own growth paths, build their businesses independently, and help unlock and maximize enterprise value for shareholders of the two companies.

About PhonePe

PhonePe was founded in December 2015, and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 43.5 crore (435+ Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized ~3.5 crore (~35 Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% pin codes in the country. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2022 by Trust Research Advisory (TRA).

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of September 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

 

Media Contacts

Priya Patankar
PhonePe +91 9886675772 priya.patankar@phonepe.com

Emily Japlon & Gurion Kastenberg
General Atlantic media@generalatlantic.com

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DIF Capital Partners signs acquisition of largest UK co-location solar and battery portfolio from Cero Generation and Enso Energy

DIF

DIF Capital Partners is pleased to announce that, together with ib vogt, it has signed the acquisition of a 100% interest in a greenfield portfolio of ready-to-build co-located solar and battery projects from Enso Green Holdings Limited (EGHL). This is a joint venture between Cero Generation and Enso Energy. DIF’s investment is being done through its DIF Infrastructure VII fund, which will acquire a 90% interest.

The UK-based portfolio has been developed by EGHL and is understood to be the largest co-location portfolio of solar and (battery) storage in the UK, consisting of seven sites with a total capacity of 720MW (380MW of solar and 340MW of battery storage). Solar EPC and O&M services will be provided by ib vogt.

The acquisition of each project will be completed once each site reaches the ready-to-build stage. The first two projects have already been acquired and have started construction; the expectation is that all projects are acquired by mid-2023 and that they are operational between 2024 and 2026. All individual sites are expected to benefit from CfD contracts or PPAs with corporate or utility offtakers.

DIF and ib vogt are currently in the process of raising a non-recourse debt financing facility to fund the construction of the portfolio.

Gijs Voskuyl, partner and Head of Infrastructure at DIF Capital Partners, said: “This transaction perfectly fits in DIF’s build to core strategy and will make a significant contribution to the UK’s efforts to achieve net zero by 2050. It represents DIF’s first direct investment into the asset class of utility scale energy storage, which is an essential component of future electricity markets. DIF is continuing to work closely with Enso Energy and Cero Generation to bring the remaining assets in the portfolio to ready-to-build stage and is excited to make this investment in a partnership with ib vogt”.

Commenting on the transaction, Marta Martínez Queimadelos, CEO of Cero Generation, said: “We are delighted that DIF and ib vogt will be taking forward this sizeable portfolio into the next phase of its lifecycle. They will be continuing our work with Enso Energy following the development of the projects from conception through planning, and successfully to ready-to-build. This portfolio will make a significant contribution to the UK’s efforts to achieve net zero by 2050, with the co-location of solar and battery storage playing a key role in the de-carbonisation of the grid. We will continue to develop and deliver the UK solar and battery projects in the joint venture’s existing pipeline, which extends to 5GW, and a further 5GW of early-stage opportunities.”

Andrew King, Managing Director of Enso, commented: “The sale of these ready-to-build assets is the culmination of a lot of hard work by the Enso and Cero teams, and we look forward to seeing the DIF/ib vogt team take them forward to construction and operation. This transaction provides further evidence that co-located solar and battery storage projects connecting directly to the transmission network are attractive to funders and investors and will play an important role in the delivery of the UK’s net zero plans”.

DIF was advised by Elgar Middleton, Lazard and CMS. EGHL was supported by PKF and TLT through the transaction.

 

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 15 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 210 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu.

About Cero Generation

Cero Generation is a leading renewables platform working across Europe to support the transition to a net-zero future, for this and every generation.

Active throughout the project lifecycle, from development through to construction and operations, Cero’s highly experienced team brings world-class industrial, commercial and technical expertise to its projects.

Cero’s 11GW development portfolio is one of the largest in Europe, covering utility-scale solar as well as integrated energy storage solutions. Cero works closely with local development partners and suppliers to deliver high-quality, high-performing assets.

Cero is an independent portfolio company of Macquarie’s Green Investment Group (GIG), operating on a stand-alone basis.

About Enso Energy

Enso Energy is one of the UK’s most experienced renewable energy developers, focused on developing renewable energy sites that drive the transition to net zero.

Enso’s team of experts have a deep understanding of the energy industry and how to meet the requirements of a fast-moving sector. With a background in large scale renewable energy, the team have delivered over 1.2GW of renewable energy and storage projects since 2019.

Enso Energy believes that it is only with the support of the people most affected by renewable energy development that we can keep the lights on. That is why Enso’s expert team is honest, considerate and diligent with an ambition to use the latest solar technology to make a positive impact on the country and the communities it works in.

To find out more visit: https://www.ensoenergy.co.uk/

 

Contacts:

DIF: Diederik Heinink, d.heinink@dif.eu

Cero / Enso: cero@standagency.com

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Advent International invests in LBS Group, a leading pest control operation and hygiene solutions provider in Greater China

Shanghai, 23 February 2023 – Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, today announced that it has invested in LBS Group (“LBS”), a leading pest control operation (PCO) and hygiene solutions provider in Greater China.

LBS Group offers a wide range of pest control and hygiene management products and services in Asia. It has grown its offering since it was established in 1998 to include integrated pest control management, hygiene services, Sani-Mist germicidal treatment and grease remedial services for global F&B customers, retailers, offices, hotels, and industrial and household customers. The company is a major player in the PCO industry and operates in more than 30 cities across Greater China and southeast Asia.

The PCO market in China is expected to see rapid growth at a mid-teen CAGR over the next five years thanks to increasingly stringent hygiene standards and pest control requirements as well as improving food safety regulations. Advent’s investment in LBS Group will support the company’s continuing growth initiatives and its leading position in China’s PCO industry.

Irene Liu, Principal of Advent, commented, “Riding on China’s steadily increasing urbanization rate and improved hygiene standards, we believe the PCO sector has strong growth prospects. We are impressed by LBS’ superior service quality and very pleased to partner with its experienced and highly motivated team. We plan to contribute our global resources and relevant industry expertise to support the business.”

Franco Lam, Chairman of LBS Group, said, “I am excited to work with Advent during our next stage of growth in Greater China. I believe we will be great partners and LBS Group will continue to deliver excellent customer services.”

Andrew Li, Managing Director, Head of Greater China of Advent, said, “This deal reflects Advent’s continued commitment to invest in the Greater China region and our confidence in building successful businesses with the support of our global network. LBS has a strong track record in providing pest control and hygiene solutions and quality services to customers. We look forward to helping it grow and expand its footprint in the region.”

Advent has made multiple investments across Greater China, including Wagas Group, a major lifestyle F&B group in China; AI Dream, China’s leading branded sleep solution provider and the largest player in the country’s premium mattress market; BioDuro, a global life sciences contract research and development organization with major operations in Shanghai, Beijing and San Diego; and GS capsule, the largest domestic capsule provider in China.

About LBS Group

Founded in 1998, LBS Group is a pest control and hygiene solutions company with complementary services such as digital IoT pest monitoring, air purification and desludging services. As Greater China’s leading pest control company, LBS meets the needs of a wide range of customers in Greater China and the broader region and is the go-to vendor for many of its business partners in Food Services, Retail, Hospitality, Manufacturing and other end markets. Central to LBS’ culture and philosophy is the importance of caring about people. The concept of “planting the seed and the fruit will follow” is a core value embraced by every LBS employee. Respect, collaboration, helping others to succeed and community service before self-advancement has empowered the LBS team to strive for sustainable growth and build a bright future together.

 

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 405 private equity investments across 42 countries, and as of September 30, 2022, had $89 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 290 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, please visit
www.adventinternational.com and follow Advent on LinkedIn.

 

Media contacts

FTI Consulting
Izzie Shen (Shanghai)
Tel: +86 21 2315 1068
izzie.shen@fticonsulting.com

Jenna Qian (Hong Kong)
Tel: +852 9839 0019
jena.qian@fticonsulting.com

 

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Gaw Capital Partners and A3 Capital Jointly Form a JV Platform with the Launch of the first Infinaxis Data Centre in Malaysia

Gaw Capital

Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) Welcome the JV Partnership to Enhance Digital Infrastructure in Malaysia

22 February 2023, Singapore/Kuala Lumpur — Real estate private equity firm Gaw Capital Partners announced today that the firm, has formed a JV platform jointly with A3 Capital to invest into greenfield and under-performing data centre assets across key markets in the Southeast Asia region. The collaboration is aimed to create a portfolio of Tier-3 certified data centre assets. This JV platform will also launch the Infinaxis Data Centre platform with a focus on developing Internet Data Centre (IDC) assets across the Southeast Asia region. The data centre assets under the JV platform will be managed by Infinaxis, staffed by an experienced data centre team originally under A3 Capital.  The JV platform’s first investment is located in Cyberjaya, Kuala Lumpur, Malaysia, with other pipeline opportunities in other neighboring countries like Indonesia and Singapore.

Cyberjaya is one of the largest IDC hubs in Malaysia, housing 67 per cent of the Multi-Tenant Data Centre market in Malaysia as of Q2 2021. Considered as the “Silicon Valley of Malaysia”, Cyberjaya, spanning around 29 square kilometers, is the nucleus of the Multimedia Super Corridor in Malaysia. Cyberjaya houses over 2,000 businesses, including SMEs, startups and multinational companies such as IBM, Fujitsu, Panasonic and Huawei, as well as seven universities, turning it into a regional and global ICT hub. Located in Cyberjaya, the seed investment consists of two greenfield sites with a combined plot area of 12,490 square meters. The JV platform will develop a 12 MW IT load IDC facility on one of the plots. The IT capacity will potentially be doubled in the future, with the second plot to be developed as an expansion site. The data centre assets under the JV platform will be operated by Infinaxis, which consists of seasoned industry experts with decades long track records in data centre, real estate and technology industries.

Kok Chye Ong the Managing Director and Head of IDC Platform, Asia (Ex-China) of Gaw Capital Partners said “Gaw Capital Partners is honored to work together with Infinaxis Data Centre Holdings as the platform operator. By forming this strong partnership, we will develop, acquire or reposition four to five data centres in different locations throughout Southeast Asia. The data centre demand in Malaysia is underpinned by strong internet traffic and high amount of data consumption. In recent years, the internet data growth in these areas have been further accelerated by the continued digital transformation of enterprises and 5G penetration. Also, several government initiatives over the last decade have made Malaysia an attractive market for data centres. However, the supply of quality data centres has not caught up with the technical demand from customers. We look forward to exploring more investment opportunities in this market.”

Zahri Mirza, Chief Executive Officer (CEO) for Infinaxis further added, “The outlook for data centre demand in Southeast Asia is indeed highly positive and our collaboration with Gaw Capital will allow us to fast track the delivery of services for our customers. Indeed, through our Gaw Capital partnership we have been able to gain support from MIDA and MDEC in processing the necessary regulatory approvals in a timely manner.”

The Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) welcome the JV partnership formed by Gaw Capital Partners and A3 Capital to launch the Infinaxis Data Centre platform, enhancing digital infrastructure in Malaysia. Data center facilities are now at the forefront of innovation and have been supporting the demand for mission-critical digital infrastructures and the cumulative growth of data. Not only do businesses rely on data centers for storage, but for disaster recovery and data management too.

Datuk Wira Arham Abdul Rahman, CEO of MIDA said “My sincere compliments to Gaw Capital Partners and A3 Capital for launching the Infinaxis Data Centre platform. Malaysia is the location of choice for industry leaders to site their best-in-class data centres. These combined efforts will definitely play a key role in enhancing our digital infrastructure.”

“The Government is committed to growing Malaysia as a data centre hub by developing infrastructure, facilitating innovation and strengthening frameworks guided by the MyDigital Blueprint and National Investment Policy (NIP). Anchored by the National Investment Aspirations (NIA), the NIP will outline practical strategies to prioritise nurturing innovative, high-impact, high-tech investments that create high value jobs,” added Datuk Wira Arham.

Ts. Mahadhir Aziz, CEO of MDEC, said, “As the nation’s lead digital economy agency, we are pleased to have facilitated this expansion in raising the overall infrastructure capacities in the data centre sector. This will be crucial as we seek to continue accelerating the growth of our digital economy, guided by the new national strategic initiative, Malaysia Digital (MD). MDEC will strive to form more effective collaborations and drive further facilitation on this front to ensure that the nation remains competitive and attractive to investments, towards establishing Malaysia as the digital hub of ASEAN.”

The JV platform is committed to incorporating ESG principles. Infinaxis plans to apply a staged implementation of more advanced sustainability features over time, considering the availability of options and unique circumstances at the respective sites. The data centres will be more efficient and sustainable, fundamentally making them more competitive which will increase the platform’s long-term value.

Gaw Capital Partners was named ‘Alternatives Investor of the Year: Asia’ at the PERE Awards 2021 after receiving the largest number of votes in a public ballot of the real estate industry. In recent years, IDC has been a focus sector for Gaw Capital Partners as the data centre industry is one of the cornerstones of the digital economy, which is growing rapidly with broad prospects. The firm was also highlighted for launching two data centre platforms in China and two in Pan-Asia. In September 2020, the firm closed fundraising for its first IDC platform, which invested in a portfolio of projects in partnership with IDC developers and operators in China, bringing the total equity raised to approximately USD1.3 billion with the aim to build “green, efficient, innovative and recyclable” data centre clusters.

The Asia region represents as one of the geographic frontiers in the data centre space with greater opportunities. The Gaw Capital data centre platform will also comprise data centres located in China, Indonesia, Japan, South Korea, Vietnam and now in Malaysia.

-END-

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Precision Strategies Secures Strategic Investment

Abry Partners logo

Precision Strategies (“Precision”), a leading strategy and marketing agency, today announced a new strategic investment from Abry Partners, a Boston-based investment firm. The partnership will fuel and accelerate Precision’s long-term growth and expansion strategy.

Founded in 2013, Precision brings integrated, campaign-style advocacy that harnesses strategic communications, digital, creative, paid media, data analytics, and organizing to help clients achieve their goals.  The agency’s work has been widely recognized, including an Emmy nomination, a Cannes Grand Prix, and multiple Gold Lion Awards, Webbys, and agency of the year awards.

“We founded Precision as a truly integrated agency that could bring world class expertise and cutting-edge services to campaigns, causes and corporations,” said co-founders Stephanie Cutter and Teddy Goff. “We’re excited to find a new partner in Abry to expand our reach and  work with us to drive continued growth and innovation as we enter our second decade.”

Abry Partners is known for its expertise in helping high-growth businesses reach their full potential, and their minority investment in Precision will bring new resources and valuable experience to the table. The firm’s investment will provide Precision with the strategic support it needs to expand its services, reach new markets, and continue delivering exceptional results to its clients.

“Precision’s decade-long record of groundbreaking growth and success make them an ideal partner,” said Medhini Srinivasan, Principal at Abry Partners. “We are proud to invest in Precision and are confident that this partnership will help accelerate its growth and drive positive outcomes for its clients.”

GP Bullhound served as advisor to Precision and BrightTower served as advisor to Abry Partners.

About Precision:

Precision is a leading public affairs firm providing integrated services and exceptional results for campaigns, corporations and causes. With offices in Washington DC and New York, the company provides services including strategic communications, digital engagement, paid media, crisis management, organizing and data analytics.

About Abry Partners:

Abry Partners is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across its active funds.

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Gimv participates in Paleo’s Series A of EUR 12m, a Belgian pioneer in the alternative protein market

GIMV

Topic: Investment

Paleo is a Belgian precision fermentation company that allows food manufacturers to offer a “real taste” experience, by providing key ingredients for environmentally friendly and cruelty-free meat and fish alternatives. To scale and grow, Paleo raised EUR 12m euro in a Series A financing round, led by DSM Venturing and Planet A Ventures and joined by Gimv, SFPIM Relaunch, Beyond Impact, and Siddhi Capital.

Paleo focuses on myoglobin, a protein that makes plant-based foods look and taste like meat or fish in terms of color, smell, taste, and aromatic experience and provides added nutritional value. The meat and fish proteins of Paleo are identical to animal proteins and GMO-free, providing an important competitive advantage.

Michaël Vlemmix, Principal in the Life Sciences-platform of Gimv, indicates: “We are very enthusiastic to be able to support a Belgian pioneer in the Foodtech space and provide our expertise and network to build a leading company. Being able to produce a GMO-free myoglobin through precision fermentation is highly exciting and offers the possibility to become one of the key catalysts to bring the plant-based food industry to the next level. I am looking forward to being able to grow this company together with management and our international syndicate of specialized investors in the space.”

Bram Vanparys, Managing Partner and Head of Life Sciences adds: “The mission of Gimv’s Life Sciences platform is to invest in companies developing products that are significantly benefiting society, which perfectly matches Paleo’s mission of combining people’s health with our planet’s health.”

For more information, please read the full press release from Paleo attached.

 

Read the full document
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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PCF Insurance Services Secures $500 Million Preferred Equity Investment Co-Led by Carlyle Global Credit and HGGC

Valuation of $4.7 billion driven by 10% organic growth

LEHI, UTAH—February 17, 2023 — PCF Insurance Services (“PCF”), a top 20 U.S. insurance brokerage firm, today announced that it has secured a $500 million preferred equity investment in a transaction co-led by Carlyle’s Global Credit platform and private equity firm HGGC, an existing minority investor. PCF Insurance, led by Founder, Chairman and CEO Peter C. Foy and Chief Financial Officer and Chief Operating Officer Felix Morgan, also received significant investment participation in the transaction with funds managed by Owl Rock, a division of Blue Owl, and Crescent Capital, both of which have existing minority equity stakes in the business. At the time of investment, the valuation of PCF Insurance is $4.7 billion. J.P. Morgan served as the sole placement agent to PCF Insurance in connection with the transaction.

 

PCF Insurance is a risk management, benefits design, and insurance brokerage services company serving more than 415,000 clients. Since executing its management-led buyout in November 2021, PCF Insurance completed more than 100 partner transactions and increased its revenue to $700 million, while maintaining organic growth of 10%, by year-end 2022. Focusing on its proven practices, innovative, data-driven strategies, entrepreneurial spirit and the strong local relationships of its Agency Partners, PCF Insurance leverages the industry knowledge and experience of its more than 3,100 employees across 38 states to provide its first-class, highly diversified suite of services.

 

“This transaction marks a significant milestone in our pursuit of building a premier insurance brokerage firm in the U.S.,” said Foy. “We have built our agency-centric business model around long-term, sustainable growth, and I’m proud that PCF is positioned to continue investing in the growth of our agencies, especially during these recent times of economic uncertainty. We are grateful for the contributions of our partner investors who have supported us with the unique opportunity to accelerate growth.”

 

Gary Jacovino, Managing Director for Carlyle Global Credit, said: “PCF Insurance Services has experienced tremendous growth as a result of its unique client- and employee-centric operating model. We are delighted to be partnering with an exceptional management team and group of Agency Partners, and are confident PCF will achieve its long-term strategic growth objectives with the support of Carlyle Global Credit, HGGC and our partner investors.”

 

Matt Roesch, Principal of HGGC and PCF Insurance board member, added: “We continue to be impressed with the growth and operational advancements PCF has achieved since the onset of our partnership in 2020. We elected to continue as minority shareholders after the management buyout in 2021 because we see a very bright future for the business, and we are thrilled to extend our partnership with PCF, working in collaboration with Carlyle’s Global Credit platform, to help fuel its next phase of growth.”

 

 

About PCF Insurance Services

A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers’ compensation solutions. Propelled by its people, PCF Insurance’s agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partner agencies alignment through equity ownership, significant leadership incentives, and resources. Ranked #20 on Business Insurance’s 2022 Top 100 Brokers and #13 on Insurance Journal’s 2022 Top Property/Casualty Agencies, PCF Insurance is a notable leader in the insurance space, with 3,100 employees across the U.S. Learn more at pcfins.com.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $373 billion of assets under management as of December 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which it lives and invests. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About HGGC

HGGC is a leading middle-market private equity firm with over $6.9 billion in cumulative capital commitments. Based in Palo Alto, California, HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. More information, including a complete list of current and former portfolio companies, is available at hggc.com.

 

About Blue Owl

Blue Owl is a global alternative asset manager with $138.2 billion of assets under management as of December 31, 2022. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Capital Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl’s flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm’s management team is comprised of seasoned investment professionals with more than 30 years of experience building alternative investment businesses. Blue Owl employs over 545 people across 10 offices globally. For more information, please visit blueowl.com.

 

About Crescent Capital

Crescent Capital is a global credit investment manager with $40+ billion of assets under management. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. Crescent Capital is headquartered in Los Angeles with offices in New York, Boston, Chicago and London and more than 210 employees globally. For more information, please visit crescentcap.com.

 

# # #

 

 

For PCF Insurance Services

Dix & Eaton

Amy McGahan

216-241-3027

amcgahan@dix-eaton.com

 

For Carlyle

Charlie Bristow

+44 7384 513568
charlie.bristow@carlyle.com

 

For HGGC

Tom Faust

646-502-3513

tfaust@stantonprm.com

 

For Blue Owl

Nick Theccanat

212-970-6868

nick.theccanat@blueowl.com

 

For Crescent Capital

Investor Relations

310-235-5901

investor.relations@crescentcap.com

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