Category Archives: News

BGF backs family-run business Troy with £15.5 million investment

BGF

Troy,

the largest independent network for industrial and engineering supplies in the UK, has today announced a £15.5 million investment from BGF to support its ambitious growth strategy.

A family-run business, founded in 1986 and based in Exeter, Troy is Britain’s leading independent MRO (maintenance, repair and overhaul) product distributor. It serves the industrial, engineering and trade sectors nationwide via its distribution centres and buying group of 400-plus members.

Passionate about championing independent merchant businesses, Troy delivers value for its members via instant access to more than 420 suppliers of leading industry brands at the best possible purchasing terms, a best-in-class business support system, an invaluable network of people, and an investment platform to ensure local businesses are future-proofed.

With investments in 16 member businesses to date, Troy has delivered value via system enhancements and group synergies. Troy and its members service a range of sectors, including general manufacturing, rail, renewable energy, automotive, medical, aerospace and trade, with a broad product offering including power tools, cutting tools, fixings, fastenings and PPE.

Under the leadership of Paul Kilbride, who acquired Troy in 2010, the business has experienced rapid growth and is now the largest independent distribution network in the industrial and engineering sector in the UK, with a turnover of over £300 million.

BGF’s financial support will further accelerate the company’s growth strategy. In addition to the investments Troy has made within the membership base over the last five years, there is also a significant pipeline of opportunities identified post-investment.

In addition to the funding, Troy has appointed former Wickes CEO Simon King as Non-Executive Chair, following an introduction from BGF’s Talent Network – the largest pool of non-exec talent in the UK.

Paul Kilbride, Chief Executive at Troy, said: “To deliver our strategy of structured growth, we required a minority investment partner that recognised the capabilities of Troy. We are confident that, with BGF as key allies, we will maintain our growth trajectory and realise the company’s ambition.”

The new £15.5 million investment deal was led by James Skade and Hannah Waters, investors in BGF’s Bristol-based South West team.

This is a great opportunity for BGF to invest in a thriving national business network with an excellent reputation and a huge potential for growth. We are delighted to be working alongside Paul and Simon, and look forward to supporting the business to deliver on its ambitious growth plans.

James Skade, BGF investor

Simon King, Non-Executive Chair of Troy, said: “I’m excited to be joining the board of Troy, working alongside the wider team and BGF to capitalise on significant market opportunities and to position the business for further growth.”

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Apollo Infrastructure Funds Announce Structured Investment in Yondr Group

Apollo
Proceeds to Facilitate the Continued Buildout of Yondr’s Portfolio of Hyperscale Data Center Facilities in Europe and the Americas

NEW YORK and LONDON , June 12, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed infrastructure funds (the “Apollo Funds”) have agreed to provide a significant capital commitment to Yondr Group (“Yondr”) via a structured instrument as the first step in a broader partnership. Proceeds from the investment will be utilized to further Yondr’s growth ambitions in support of client demand for its differentiated service proposition as Apollo and Yondr partner to facilitate the continued buildout of Yondr’s portfolio of hyperscale data center facilities. In connection with the investment, Apollo Partners Trevor Mills and Andrew Kirby will join Yondr’s Board of Directors.

Yondr, wholly owned by Cathexis Group (“Cathexis”), is a recognized global leader in developing, owning, and operating build-to-suit hyperscale data centers, primarily in Europe and the Americas. The Company operates a single-tenant, build-to-suit data center strategy, benefitting from key strategic partnerships across the globe which support development and speed to market. Today, Yondr owns and operates a hyperscale data center in the Netherlands, with four additional sites in construction across Europe and the United States expected to come online between 2024 and 2025, all of which are fully contracted with large, investment-grade counterparties.

Yondr has advanced plans to continue scaling its portfolio of build-to-suit hyperscale data centers with the support of Apollo to meet the rapidly growing needs of its high-quality customer base, with a continued focus on speed to market, top-tier facility design and performance while leveraging the Company’s local expertise.

Paul Cossell, CEO at Yondr Group, said, “Apollo’s support of our global growth ambitions is truly exciting for us at Yondr. This allows us to create long-term sustainable value for clients, and to rapidly deploy cloud solutions, in line with the growing demands of our select, blue-chip client base.”

Apollo Partners Trevor Mills and Andrew Kirby said, “With increasing global demand for hyperscale data center capacity, we believe that nimble, proven build-to-suit players like Yondr are well positioned for sustainable growth. Yondr has rapidly developed a leading position in the global hyperscale sector since its inception in 2019, and we are pleased to support Paul, the management team and Cathexis as they scale to meet the growing demand of their customer base. We are looking forward to our role as Board members as part of a long-term, wide-ranging partnership to help support their continued success.”

Dylan Foo, Head of Global Infrastructure at Apollo, added, “We believe this transaction demonstrates our ability to navigate complexity amid continued economic uncertainty and structure an attractive, tailored investment which supports the needs of both Yondr and Apollo Funds. We look forward to supporting Yondr’s continued expansion while pursuing the high growth secular trend of global cloud adoption.”

Simpson Thacher & Barlett LP served as legal advisor to the Apollo Funds. White & Case LLP served as legal advisor to Yondr.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

About Yondr Group
Yondr Group is a global developer, owner operator and service provider of data centers. The company specialises in delivering and operating dedicated infrastructure that is engineered for scale. As an organisation, our mission ‘Global capacity responsible delivery’ ensures that we achieve our vision of a tomorrow without constraints. For more information, visit www.yondrgroup.com

Apollo Contacts

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

Yondr Contact

Louise Donkor
Marketing Communications Manager
Yondr Group
info@yondrgroup.com

 


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Source: Apollo Global Management, Inc.

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NanoImaging Services Receives Growth Equity Investment from Ampersand Capital Partners

Ampersand

San Diego, California – June 12, 2023: NanoImaging Services (“NIS”), the leading provider of cryo-electron microscopy (“cryo-EM”) services to the pharmaceutical and biotechnology communities, announced today that it has received a growth equity investment from Ampersand Capital Partners.  Members of the NIS management team joined Ampersand in the financing.  The company will use this investment to support its worldwide growth initiatives, including expanding microscope capacity and adding complementary services to further serve the needs of existing and future customers.

NIS was founded in 2007 with the vision to make cryo-EM workflows accessible to all.  Subsequent advances in cryo-EM technology have enabled the technique to become an essential tool used in structure-based drug discovery as well as in later stage drug development applications, including antibody development, virus and vaccine studies, characterization of drug delivery vehicles, and biomanufacturing QA/QC.  NIS and its founders, Clint Potter and Bridget Carragher, have played pivotal roles in developing these applications for industry.  As the largest commercial provider of cryo-EM services today, NIS remains at the forefront of innovation and new application development for this powerful technique.

Peter Glick, Chairman of NIS, commented, “We are thrilled to have Ampersand joining NanoImaging Services as an investor and on the Board.  We have built the leading pharma services company for cryo-electron microscopy, and Ampersand’s support will fuel our continued growth in both structural biology for drug discovery and nanoparticle characterization to support drug product manufacturing.”

David Parker, General Partner at Ampersand Capital Partners who has joined NIS’s Board, added, “NanoImaging Services is an excellent fit with Ampersand’s strategy of partnering with specialized pharmaceutical services providers that have established leadership positions in attractive market segments based on differentiated science, strong technical expertise, and high service quality.  We look forward to supporting the NIS team to accelerate the company’s next phase of growth and further expansion of the cryo-EM market.”

Financial details of the transaction were not disclosed.

 

About NanoImaging Services, Inc.

NanoImaging Services, Inc. was launched in 2007 to provide imaging services to the pharmaceutical, biotechnology, and nanotechnology communities.  We have since built a client-focused organization with a reputation for expertise, reliability, and collaboration. NIS is committed to expanding our service capacity through microscope acquisition, workflow automation, recruitment and training of top talent, and development of new service offerings. Our state-of-the-art facilities include a range of electron microscopes, sample preparation equipment, and computational infrastructure to support structural biology and nanoparticle characterization workflows. NIS is the largest and most comprehensive provider of TEM and cryo-EM services to the industrial life science market. For more information, visit: www.nanoimagingservices.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit ampersandcapital.com or follow us on LinkedIn.

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Bain Capital Private Equity to acquire Porus Labs

BainCapital

Bain Capital Private Equity to acquire Porus Labs

Funding to drive expanded presence in specialty chemicals sector

MUMBAI – June 8, 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, today announced the acquisition of Porus Labs, a leading manufacturer of agricultural and speciality chemicals. Bain Capital’s resources and industry experience will enable Porus Labs to unlock significant growth through investments in talent, business development, capacity expansion, process engineering and developing or acquiring distinctive chemical capabilities. Financial terms of the private transaction were not disclosed.

Founded in 1994 in Hyderabad, Porus Labs brings significant specialized knowledge in segments such as speciality polymers, electronic chemicals and agrochemicals. The company’s continuous efforts to increase capabilities through investments in research & development, process improvement and business development capabilities have resulted in robust organic growth and positioned it as a trusted partner of global customers in the industry.

“We are very excited to build a platform in the specialty chemicals contract development and manufacturing space, leveraging Porus Labs’ expertise and strong market position. We have high conviction in the industry’s growth prospects and see immense potential for expanding the company’s market by building or acquiring differentiated chemical capabilities in key sectors,” said Rishi Mandawat, a Partner at Bain Capital Private Equity.

“Porus Labs has been a trusted partner to large global customers for nearly three decades. Our customer-centric approach and chemistry capabilities have helped us gain strategic importance amongst our customers. We enjoyed interacting with the Bain Capital team over the last few months and are pleased to entrust Bain Capital to take Porus Labs on to its next stage of growth. We are confident in our ability to unlock the full potential of our market-leading position through this transformative partnership with Bain Capital by leveraging their extensive industry expertise and global network.” said Srinivasan Namala, CEO at Porus Labs.

The transaction is subject to receipt of necessary approvals from all relevant authorities.

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, please visit: www.baincapitalprivateequity.com

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Blackpoint Cyber Secures $190 Million Growth Investment from Bain Capital Tech Opportunities and Accel

BainCapital

Blackpoint Cyber Secures $190 Million Growth Investment from Bain Capital Tech Opportunities and Accel

Funding supports Blackpoint’s mission to be a one-stop-shop for MSPs to combat escalating cyber threats

ELLICOTT CITY, Md. and BOSTON – June 8, 2023 – Blackpoint Cyber (Blackpoint), a leading, technology-focused cybersecurity company providing its advanced security suite via managed service providers (MSPs), today announced it has received a $190 million growth investment led by Bain Capital Tech Opportunities, with participation from Accel. Bain Capital Tech Opportunities and Accel join existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners. The investment will be used to fund further development of Blackpoint’s security technology and enable its MSP partners to combat a constantly changing threat landscape.

Founded in 2014 by CEO Jon Murchison, a former National Security Agency computer operations expert who spent more than a decade executing high-priority national security missions, Blackpoint leverages real-world cyber experience and deep knowledge of cyber defense tactics to help MSPs safeguard their customers from cyberthreats. Blackpoint’s Managed Detection and Response (MDR) technology rapidly detects and isolates threats at the earliest sign of a breach. Many security services place the burden of response and action on their customers, whereas Blackpoint’s 24/7 Security Operations Center (SOC) investigates suspicious activity and takes action to neutralize threats in real-time on behalf of its MSP partners. This eliminates alert fatigue and time spent on false positives.

“The MSP market is growing fast, and we are matching that growth by scaling and innovating new cybersecurity solutions,” said Jon Murchison, CEO and founder of Blackpoint Cyber. “Cyber-attacks are becoming more sophisticated and advanced, forcing MSPs to rapidly adapt to protect their customers and infrastructure. Bain Capital Tech Opportunities and Accel bring deep experience in cybersecurity, a sophisticated understanding of the threat landscape, and the resources needed to propel our next phase of growth, and we are thrilled to partner with them and continue providing our MSP partners with an elite and ever-innovative cybersecurity ecosystem.”

Blackpoint is committed to adding additional products to its platform and simplifying the security stack for its MSP partners as they play an ever-increasing role in cybersecurity. Blackpoint recently introduced its Managed Application Control solution to help MSPs ensure that only authorized applications are running on devices and reduce the risk of unauthorized activity or malware infiltration. Blackpoint also launched the Blackpoint University learning platform in 2023 to provide MSPs with access to sales and technical cybersecurity training and lessons from leaders in the military, intelligence, and business communities.

“Blackpoint sets itself apart as the security service of choice for MSPs with its next-gen MDR technology and integrations to detect and actively respond to threats,” said Dewey Awad, a Partner at Bain Capital Tech Opportunities. “We are thrilled to join Jon and the management team to help accelerate the growth of the business and drive new product development that delivers a unique value proposition to MSPs and their customers.”

Bain Capital has deep experience across the cybersecurity sector, having invested in and added value to a wide range of early-stage to mature software companies such as InAuth (acquired by American Express), Rapid 7, Check Point, Barracuda Networks, SolarWinds, Evident.io (acquired by Palo Alto Networks), Blue Coat (acquired by NortonLifeLock), ExtraHop, and BioCatch.

William Blair acted as exclusive financial advisor to Bain Capital Tech Opportunities.

About Blackpoint
Blackpoint Cyber offers the only world-class, nation state-grade cybersecurity ecosystem serving the MSP community. Using its own software and SOC, Blackpoint’s true 24/7 MDR service not only detects breaches earlier than any other solution on the market, but also provides an actual response rather than just an alert to keep your and your clients’ networks safe from widespread damage.

About Bain Capital Tech Opportunities
Bain Capital Tech Opportunities (www.baincapitaltechopportunities.com) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities. Bain Capital Tech Opportunities focuses on five priority sub-verticals: Application Software, Infrastructure & Security, Fintech & Payments, Healthcare IT, and Internet & Digital Media. We are a business unit of Bain Capital, one of the world’s leading private investment firms with approximately $160 billion in assets under management that creates lasting impact for our investors, teams, businesses, and the communities in which we live.

About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, DJI, Fiverr, Flipkart, Freshworks, Qualtrics, Segment, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 40 years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

Media Contacts

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Ardian partners with Keflavík Airport in milestone project to track Scope 3 emissions via Ardian Air Carbon

Ardian

08 June 2023 Infrastructure France, PARIS

With Keflavík airport, Ardian Air Carbon now spans a network of 5 airports representing a total of 50 million passengers*.

Ardian, a world-leading private investment house, has partnered with Keflavík International Airport in Reykjavik, to help the airport measure its Scope 3 emissions, using the proprietary platform Ardian Air Carbon.

Ardian Air Carbon has been developed by the data science team at Ardian to measure indirect emissions, such as those generated by aircraft landings, take-offs, taxiing and ground vehicles. The tool uses real time, granular operational data to monitor and project emissions. Ardian Air Carbon is complying with the methodology published by the Airport Carbon Accreditation, the global carbon management certification programme for airports.

Ardian Air Carbon has already been rolled out across 4 airports:  Turin, Milan Malpensa, Milan Linate and Naples. Keflavík is Iceland’s primary international airport and welcomed 6.1 million passengers in 2022. In time, this open platform aims to become an ecosystem wide tool supporting airports and aviation industry stakeholders in their common fight to reach net zero.

The project with Keflavík Airport will focus on estimating scope 3 items emissions at the airport, including emissions related to landings, take-offs, taxi, and auxiliary power units (APU).

Today, air travel accounts for up to 3% of global CO2 emissions. However, in a scenario where aviation is the only industry that does not take necessary action to limit global warming to less than 2% of pre-industrial levels in line with the Paris Agreement, air travel has the potential to contribute to 22% of global carbon emissions by 2050, according to Ardian’s latest Augmented Infrastructure report, The Fight for Net Zero Aviation**.

Airports are critical infrastructure at the centre of the aviation industry. As a result, they can have a structural impact on decarbonisation efforts. Currently, 96% of an average airport’s carbon footprint consists of Scope 3 emissions (excluding cruise emissions), making accurate measurement and projection modelisation essential.

Last year, after using Ardian Air Carbon to improve the measurement of its Scope 3 emissions, Turin Airport achieved its Level 3 ‘Optimisation’ accreditation from the Airport Carbon Accreditation programme. This environmental sustainability programme is promoted by ACI Europe, the association of European airports, and is a respected protocol for actively managing airports’ carbon emissions through concrete, measurable results.

Isavia emphasizes that social responsibility is integral to the company’s strategy and operations. In its Sustainability Policy, the company is guided by sustainability in everything it does. Isavia focuses on climate issues and resource efficiency in relation to the environment, quality of life with regards to society and value creation when it comes to economy. Clear objectives, criteria and a five-year action plan have been set with clear responsibility for the sustainability policy.

“As a long-term investor and shareholder in airports, we believe we have a duty to support the transition to a more sustainable industry and, by doing so, to help future proof aviation for future generations. Airports can have a significant positive impact on the sector by acting to reduce their Scope 3 emissions, but to do so they need accurate data to underpin a realistic and sustainable decarbonisation programme. We created Ardian Air Carbon to break down silos between different stakeholder groups across the industry’s value chain and enable effective collective action to reduce carbon emissions. We look forward to working together with Isavia’s team to onboard them on Ardian Air Carbon platform which will support Keflavík International Airport’s sustainability targets.” Pauline Thomson, Director Infrastructure & Head of Digital Innovation, Ardian

“Keflavik International Airport has set itself the goal of achieving carbon-free operations by 2030 at the latest. This and the airport aiming for the third stage of Airport Carbon Accreditation calls for a reliable tool to measure emissions. Isavia and Keflavik Airport are very happy to enter this important cooperation with Ardian and look forward to a productive and beneficial partnership. We are heading into the future with regards to our operations and this tool will help us to get where we want to be as soon as possible.” Hrönn Ingólfsdóttir, Director of Corporate Strategy & Sustainability, Isavia

 

*based on the number of passengers of each airport in 2022

**https://www.ardian.com/sites/default/files/2022-11/The-Fight-for-a-Net-Zero-Aviation-Ardian.pdf, p.15

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Baird Capital Portfolio Company ‘UGSI’ Rebrands as ‘cleanwater1’

Baird Capital

‘UGSI’ Rebrands as ‘cleanwater1’

UGSI Solutions, Inc. (“UGSI”), one of the leading providers of water quality and chemical feed solutions to the municipal water,  wastewater utility, and industrial markets, announced its formal rebranding to cleanwater1, inc.The new name does not impact or change any product and service offerings; rather, the name change reflects the company’s well-established mission to be the optimal partner to utilities and industrial customers facing ever-evolving and demanding water quality goals. To achieve this objective, cleanwater1 will continue to acquire, develop, and optimize solutions that improve water quality.

“We have built a great company by combining proven brands with science, monitoring, and controls, to solve today’s utility operating challenges,” said David Stanton, President and CEO of cleanwater1. “Our new name and website are designed to make it easier for our customers to find us and learn how we can help.”

Read the full announcement here, or watch a video message from CEO, David Stanton.

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Baird Capital Invests in Parallax

Baird Capital

Baird Capital’s Venture Capital team today announced it led a Series B funding round in Parallax, a leading provider of predictive forecasting and capacity planning software for digital services and organizations. Parallax plans to utilize the new capital to fuel its product innovation initiatives, expand its market presence, and further scale its operations to meet the growing demand for solutions.

“Through our own investments in professional services businesses across the Baird Capital portfolio, we’ve witnessed firsthand the importance of effective resource management and its impact on workforce utilization and profitability,” said Jim Pavlik, Partner with Baird Capital’s Venture team and newly appointed Board member at Parallax. “We’ve been extremely impressed with Parallax’s cloud-based platform and its ability to optimize resource planning and forecasting for its clients and are very excited to partner with the Parallax team and support their continued investments in growing the business.”

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MEGA International accelerates its growth thanks to a unitranche financing from Eurazeo

GIMV

07/06/2023 – 11:36 | Portfolio

Paris/Boston – June 7, 2023 – MEGA International, a leading SaaS software company in enterprise architecture, today announces the signature of a unitranche financing with Eurazeo to accelerate its growth alongside its historical shareholders, including, in particular, the investment company Gimv.

Eurazeo, a leading global investment company managing more than 35 billion euros of diversified assets, chose MEGA for its track record of growth over the past few years, its technology leadership position in Enterprise Architecture, and its ability to bring together business, IT, data, and risk management in a single integrated SaaS platform HOPEX.

This financing will enable MEGA to accelerate its technological and business development through investments in artificial intelligence to support business transformation. With a strong position in the United States, MEGA intends to continue developing in this territory where the enterprise architecture market is growing rapidly.

“MEGA International convinced us of its strong and sustainable growth potential, and we are happy to count the company among our promising technology assets,” says Olivier Sesboüé, Investment Director at Eurazeo.

“Gimv strongly believes in MEGA’s ability to accelerate its growth thanks to the commitment of its management team and its employees to meet the needs of its customers in a context of continuous transformation. We are delighted that Eurazeo is joining us to pursue the journey with MEGA,” comments Eric de La Vigne, Principal Smart Industries at Gimv.

“We are happy and proud of the trust placed in us by Eurazeo. This funding supports our innovation strategy for business transformation thanks to an integrated and automated SaaS solution that facilitates planning and alignment between IT and business,” adds Luca de Risi, CEO at MEGA International.

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Japan Post Insurance, KKR and Global Atlantic to Form Strategic Partnership

KKR

TOKYO & NEW YORK – June 7th 2023 – Japan Post Insurance Co., Ltd. (“Japan Post Insurance”), KKR & Co. Inc. (together with its subsidiaries, “KKR”), and Global Atlantic Financial Group (“Global Atlantic”) today announced their entrance into a strategic partnership. Japan Post Insurance will additionally make a material investment in a reinsurance co-investment vehicle sponsored by Global Atlantic.

KKR and Global Atlantic’s collective track records of delivering customized solutions for global life and annuity insurance clients is well-suited to helping advance Japan Post Insurance’s growth strategy. The partnership enables Japan Post Insurance to access KKR and Global Atlantic’s platforms to enhance its growth and diversify its business portfolio into overseas markets.

“We believe this partnership has great potential for Japan Post Insurance to pursue new growth opportunities and diversify revenue sources. It also enhances our reinsurance strategy and asset-liability management capabilities and we will proceed in a gradual and prudent manner as this is the first international partnership for Japan Post Insurance, which currently does not have any overseas offices,” said Tetsuya Senda, Director and President, CEO, Representative Executive Officer of Japan Post Insurance. “We are very excited to expand our business collaboration with KKR, a leading global investment firm, and Global Atlantic, a leading global life and annuity reinsurance firm, as they are both committed to the Japanese market and trusted partners with whom Japan Post Insurance can develop a mutually beneficial relationship.”

Entering into this partnership with Japan Post Insurance advances KKR and Global Atlantic’s commitment to Japan, as well as their global insurance strategies to deliver both asset management and reinsurance solutions to their insurance clients.

Joe Bae and Scott Nuttall, Co-CEOs of KKR, said, “This is a testament to our continued commitment to expanding our insurance presence alongside high-caliber partners like Japan Post Insurance. We are pleased to enter into this partnership with Japan Post Insurance alongside Global Atlantic to pursue opportunities for growth and collaboration.”

“We are excited about the confidence placed into the Global Atlantic platform by Japan Post Insurance, a leading life insurance company in Japan. It is another sign of the enhanced value we bring to our global reinsurance clients,” said Allan Levine, Co-Founder, Chairman & CEO of Global Atlantic. “We continue to see tremendous opportunities to deploy capital, and Japan Post Insurance’s investment in the co-investment vehicle will allow us to further accelerate the growth of our franchise.”

Nishimura & Asahi and Willkie Farr & Gallagher LLP served legal advisers to Japan Post Insurance. BofA Securities acted as a financial adviser to Japan Post Insurance.

Debevoise & Plimpton LLP served as legal adviser to KKR and Global Atlantic. SMBC Nikko Securities Inc. served as a financial adviser to KKR and Global Atlantic.

About Japan Post Insurance

Japan Post Insurance is a life insurance company in Japan that offers a range of life insurance products, with a focus on individual life insurance, such as endowment insurance and whole life insurance. Japan Post Insurance began operations on October 1, 2007 as the life insurance company within the Japan Post Group. This change followed the privatization of Japan Post and the creation of separate companies for its various businesses. As a member of the Japan Post Group, Japan Post Insurance provides its customers with reliable insurance services, serving individual customers through its branch retail service division and Japan Post Co., Ltd.’s nationwide network of post offices and corporate customers through its branch whole sales division.

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 and on Twitter @KKR_Co.

About Global Atlantic

Global Atlantic Financial Group is a leading insurance company meeting the retirement and life insurance needs of individuals and institutions. With a strong financial foundation and risk and investment management expertise, the company delivers tailored solutions to create more secure financial futures. The company’s performance has been driven by its culture and core values focused on integrity, teamwork, and the importance of building long-term client relationships. Global Atlantic is a subsidiary of KKR, a leading global investment firm. Through its relationship, the company leverages KKR’s investment capabilities, scale and access to capital markets to enhance the value it offers clients. KKR’s parent company is KKR & Co. Inc. (NYSE: KKR). Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries.

Forward-Looking Statements

Certain information contained in this document constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “target,” “intend,” “continue” or “believe,” other variations thereon or comparable terminology. The forward-looking statements speak only as of the date hereof and are based on current beliefs, assumptions and expectations. Due to various risks, uncertainties and contingencies, including but whether the anticipated benefits of the partnership can be achieved, actual events or results or performance may differ materially from what is reflected or contemplated in such forward-looking statements. There is no obligation to update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise. Past performance is not a guarantee of future results.

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