Category Archives: News

Francisco Partners to Acquire Quorum Software

Franciso Partners

SAN FRANCISCO, MARCH 4, 2025 – Francisco Partners today announced that it has agreed to acquire Quorum Software (“Quorum” or the “Company”), a leading provider of energy software worldwide.

For over 20 years, Quorum has been a leading software provider for digital transformation in the energy industry, powering growth and profitability for energy operators by connecting people, workflows, and systems with decision-ready data. The Company serves as a trusted partner to energy customers who rely on its expertise and applications to successfully navigate the energy transition and deliver value across upstream, midstream, and downstream sectors. Quorum today serves over 1,500 customers, ranging from emerging operators to global supermajors and NOCs, across 50 energy producing countries. This transaction will position Quorum to capitalize on the momentum in global energy markets and increased demand for its platform.

“We are thrilled to join forces with Francisco Partners at this time of great opportunity for our platform, our customers, and our sector,” said Paul Langenbahn, CEO of Quorum. “We have undergone a dramatic transformation in recent years and successfully navigated a changing global market with a laser focus on delivering for our valued customers while driving long-term profitable growth. We look forward to working alongside Francisco Partners to further strengthen our platform and to continue providing our customers with world-class software and services for years to come.”

“Quorum plays a critical role in the global energy industry, serving as a trusted strategic partner to over a thousand customers across the world,” said Mac Fountain, Principal and Petri Oksanen, Partner at Francisco Partners. “We are excited to welcome them to our portfolio, and we are eager to support their continued growth and success with our technology expertise and resources. Together, we intend to build on Quorum’s strong foundation and grow their platform and customer base through both organic investment and strategic acquisitions.”

Lincoln International and Jefferies LLC are serving as financial advisors to Francisco Partners. Citi is serving as exclusive financial advisor to Quorum.

About Quorum Software
Quorum Software is a leading provider of energy software worldwide, serving more than 1,500 customers across the entire energy value chain in 50 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty-five years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

eam

Status

Current

Deal Facts

North America

Private Buy Out

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CVC closes third generation Strategic Opportunities fund at €4.61 billion

CVC Capital Partners

Latest fundraising continues the platform’s successful track record, with CVC’s long-term private equity strategy having secured total commitments of over €13 billion across three vintages.

CVC is pleased to announce the final close of CVC Strategic Opportunities III with total commitments of €4.61 billion, matching the size of its predecessor fund, CVC Strategic Opportunities II, and significantly increasing the number of investors committed to the strategy.

CVC’s Strategic Opportunities platform invests in high-quality, stable businesses that present an attractive risk-return profile over a longer investment horizon relative to traditional private equity mandates. Focused on Europe and North America, CVC Strategic Opportunities typically invests for a longer period compared to the broader private equity industry’s average hold period. Through the platform’s long-term approach, CVC seeks to maximize value creation initiatives on behalf of its investors and portfolio companies. The team often partners with founding families or foundations seeking long-term capital and operational resources to take their business to the next stage of development.

Quotes

We are truly grateful to our investors for supporting this fundraise, which reinforces our conviction that there is significant demand for a successful, longer-term private equity strategy

Lorne SomervilleManaging Partner and Co-Head CVC Strategic Opportunities

Lorne Somerville, Managing Partner and Co-Head CVC Strategic Opportunities said: “We are truly grateful to our investors for supporting this fundraise, which reinforces our conviction that there is significant demand for a successful, longer-term private equity strategy. As we embark on investing our third vintage, adding to our strong, stable and performing portfolio, we believe we are well-positioned to continue delivering consistent and attractive returns for our Strategic Opportunities investors.”

Jan Reinier Voûte, Managing Partner and Co-Head CVC Strategic Opportunities, added: “Over our previous two vintages, we have built a strong track record through our long-term approach to value creation. Looking at our pipeline, we’re energised by the opportunities to partner with high-quality businesses  and drive enduring growth, leveraging our team’s robust operational resources.”

Since inception, the platform has committed over €7.5 billion to 18 businesses offering long-term strategic development opportunities across sectors and geographies. Examples of CVC Strategic Opportunities investments include: Asplundh, the market leader in vegetation management and other services to major utilities in North America, Australia and New Zealand; Sebia, a world-leading provider of diagnostic testing equipment; and most recently, Hempel, a leading international supplier of coating solutions.

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KKR Upsizes and Prices Offering of Mandatory Convertible Preferred Stock

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has priced its previously announced offering of $2.25 billion (45,000,000 shares) of its 6.25% Series D Mandatory Convertible Preferred Stock (the “mandatory convertible preferred stock”) at a price to the public and liquidation preference of $50.00 per share. The offering was upsized from the previously announced size of $1.50 billion (30,000,000 shares). The underwriters have a 30-day option to purchase up to an additional $337.50 million (6,750,000 shares) of mandatory convertible preferred stock, solely to cover over-allotments, if any. The offering is expected to close on March 7, 2025, subject to customary closing conditions.

The net proceeds from the mandatory convertible preferred stock offering will be approximately $2.20 billion (or approximately $2.53 billion if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts and estimated offering expenses. KKR intends to use the net proceeds from the offering for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment and for other general corporate purposes.

Unless earlier converted at the option of the holders, each share of mandatory convertible preferred stock will automatically convert on March 1, 2028 (subject to postponement for certain market disruption events) into between 0.3312 and 0.4140 shares of KKR’s common stock, subject to certain customary anti-dilution adjustments. The number of shares of common stock issuable upon conversion will be determined based on the average volume-weighted average price per share of common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately preceding March 1, 2028.

Dividends on the mandatory convertible preferred stock will be payable on a cumulative basis when, as and if declared by KKR’s board of directors, at an annual rate of 6.25% on the liquidation preference of $50.00 per share. If declared, these dividends will be paid in cash, in shares of common stock or in a combination of cash and shares of common stock, at KKR’s election, subject to certain limitations, on March 1, June 1, September 1 and December 1 of each year, commencing on June 1, 2025, and ending on, and including, March 1, 2028.

Currently, there is no public market for the mandatory convertible preferred stock. KKR has applied to list the mandatory convertible preferred stock on the New York Stock Exchange under the symbol “KKR PR D.”

Morgan Stanley & Co. LLC, KKR Capital Markets LLC, Goldman Sachs & Co. LLC and UBS Securities LLC are acting as joint book-running 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: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email to prospectus@morganstanley.com; KKR Capital Markets LLC, by telephone at (212) 750-8300 or by email to ECMCapitalMarkets@kkr.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282; and UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the mandatory convertible preferred stock or any other securities, and shall not constitute an offer, solicitation or sale of the mandatory convertible preferred stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
Tel: + 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

 

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Ajax Health and KKR Form New Platform to Develop System for Treating Heart Failure

KKR

MENLO PARK, Calif., March 4, 2025 /PRNewswire/ — Ajax Health, a KKR-backed medical device platform, today announced the formation of a new entity, FlowMod. The new organization is the result of a collaboration between Boston Scientific Corporation, Ajax Health, and KKR, utilizing intellectual property developed by Boston Scientific. FlowMod intends to accelerate the creation, clinical validation, and regulatory approval for a system treating heart failure, a condition that affects pumping action of the heart muscles and currently impacts 64 million people worldwide.1

“On the heels of the Cortex transaction with Boston Scientific, we are thrilled to pursue this new path in interventional heart failure and the benefits it may bring to the millions of patients affected by this disease each year,” said Duke Rohlen, Chief Executive Officer, Ajax Health. “Through this collaboration, we intend to bring a differentiated solution to physicians and their patients that we believe will make a positive impact on how heart failure is treated.”

“We are pleased to collaborate with both Ajax Health and Boston Scientific, innovate productively alongside leading strategic partners, and help advance promising medical technology for the benefit of cardiovascular disease patients worldwide,” said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR.

FlowMod will be led by Chief Executive Officer Dr. Philippe Marco, former President and Chief Operations Officer of Epix Therapeutics and CV Ingenuity, both of which were Ajax-led companies that obtained pre-market approval for groundbreaking cardiovascular devices.

“I am excited to work with the Ajax Health and KKR leadership teams again,” said Dr. Marco. “We look forward to developing a meaningful advancement in the treatment of patients with heart failure, building upon the foundation established by Boston Scientific.”

KKR is investing in FlowMod through its KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies.

About Ajax Health

Ajax Health is a turnkey growth solution for commercial-stage medtech companies. The Ajax team draws on decades of experience as entrepreneurs, operators, and investors to create value for its strategic partners by developing product portfolios through novel business models and creative deal structures. Ajax Health is headquartered in Menlo Park, CA with offices in New York City, Los Angeles, and Austin.

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.

1 Bozkurt, Biykem et al. HF Stats 2024: Heart Failure Epidemiology and Outcomes Statistics. An Updated 2024 Report from the Heart Failure Society of America. Journal of Cardiac Failure. 2025 Jan; 31(1):66-116.

Media contacts:

For Ajax Health:
Will Kynes
wkynes@ajaxhealth.com

For KKR:
Julia Kosygina
212-750-8300
media@kkr.com

SOURCE Ajax Health

 

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KKR Announces Offering of Mandatory Convertible Preferred Stock

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has commenced an offering of $1.5 billion (30,000,000 shares) of its Series D Mandatory Convertible Preferred Stock, par value $0.01 per share (the “mandatory convertible preferred stock”), subject to market and other conditions (the “offering”). KKR expects to grant the underwriters a 30-day option to purchase up to an additional $225 million (4,500,000 shares) of mandatory convertible preferred stock, solely to cover over-allotments, if any.

KKR intends to use the net proceeds from the offering for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment and for other general corporate purposes.

Each share of mandatory convertible preferred stock will have a liquidation preference of $50.00 per share. Unless earlier converted at the option of the holders, each share of mandatory convertible preferred stock will automatically convert into a variable number of shares of common stock on or around March 1, 2028. The conversion rates, dividend rate and the other terms of the mandatory convertible preferred stock will be determined at the time of pricing.

Morgan Stanley & Co. LLC and KKR Capital Markets LLC are acting as joint book-running 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 will be 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: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email to prospectus@morganstanley.com; and KKR Capital Markets LLC, by telephone at (212) 750-8300 or by email to ECMCapitalMarkets@kkr.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the mandatory convertible preferred stock or any other securities, and shall not constitute an offer, solicitation or sale of the mandatory convertible preferred stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
Tel: + 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

 

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Systems Planning & Analysis (SPA), an Arlington Capital Partners Portfolio Company, Completes Acquisition of Proximity Advisory Services

Proximity is Market Leader in Consulting, Legal, and Commercial Services to Government

ALEXANDRIA, VA – March 4, 2025 – Systems Planning & Analysis (SPA), a leading global provider of data- driven analytical insights supporting complex national security programs and defense priorities, has acquired Proximity, a leading Australian provider of consulting, legal, and commercial services to government. Proximity joins SPA Australia, a wholly owned subsidiary of Systems Planning & Analysis.

The acquisition of Proximity significantly expands SPA’s international footprint and presence in the Australia market. Proximity adds mission-critical clients across whole of government and major Commonwealth public sector agencies in Australia, including Department of Defence, Department of Home Affairs, Australian Taxation Office, Department of Health Services Australia, and Department of Social Services.

With the acquisition, SPA’s service offerings in Australia will expand in the areas of change management, procurement and contract management, program and project management, public law and legal support services, and business cases and cost modeling.

SPA CEO Rich Sawchak commented, “Proximity is a sought-after and highly respected multidisciplinary government consultancy with an impressive client list. Its strong consulting, legal, and commercial practice areas broaden our capabilities and reinforce our commitment to Australia, where we have supported major clients since 2010. We are thrilled to expand our success globally, and we wholeheartedly welcome our new and talented Proximity team members.”

SPA Australia and Proximity are headquartered in Canberra, with Proximity also located in Melbourne and Adelaide.

Zoe Lynam, Proximity’s CEO, with over 15 years working in executive and general management roles, will take the helm as Managing Director, SPA Australia, and Group Leader of the Australia Group, reporting to SPA Senior VP and Sea, Land, Air Division Director Dave Duryea.

SPA President Terry Benedict (VADM, USN, Ret.) added that “Proximity brings a leadership team that understands Australia’s defense issues at a critical time for strategic considerations in the Pacific theater. I look forward to working with Zoe and her team to expand our advisory and analytic support for our defense-focused clients as well as to provide new services through each of Proximity’s practice areas.”

Zoe Lynam stated “We’re proud of the strong reputation we’ve earned in the Australian market, and SPA is a natural fit given our shared commitment to integrity and client service. We are honored and excited to share our deep, mission-critical expertise with a global company of SPA’s caliber.”

David Wodlinger, a Managing Partner at Arlington Capital, said “SPA’s acquisition of Proximity brings cutting-edge capabilities, approaches, and expertise that will enhance SPA’s position as the trusted partner of choice for the defense community and whole of government clients. This is an excellent match that further solidifies SPA’s reputation for quality.”

 

About SPA

SPA is a premier, independent global advisory and technical services firm supporting complex national security programs and defense priorities. SPA’s portfolio of differentiated capabilities and tools delivers comprehensive support to the most critical programs for combatting threats, influencing long-term strategic priorities, and shaping policies at the highest levels. With over 2,200 professionals, SPA’s employees are subject matter experts in numerous domains, including Land, Undersea, Surface and Air Warfare Operations; Intelligence Community, Radar and Sensor Systems; Unmanned Systems and Counter Systems; Defense Industrial Base and Economic Security; Space Systems; Ballistic Missile Systems; Cybersecurity Analysis and Policy; and Hypersonics. Awards include GovCon Contractor of the Year in 2022, Washington Post Top Workplace consecutively since 2014, and Department of Labor HIRE Vets Gold Medal for the past seven consecutive years. SPA is a portfolio company of Arlington Capital Partners. For more information: www.spa.com.

 

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 & technology, and aerospace & 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.

 

 

Contacts

Systems Planning & Analysis (SPA)

Sue Nelowet, Director of Communications

snelowet@spa.com

 

Arlington Capital Partners

Ryan Fitzgibbons and Meredith Bishop

Pro-arlington@prosek.com

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Ardian and Rockfield complete a new investment in Bologna (Italy) with Pan-European Student Accommodation Strategy

Ardian

Ardian, a world-leading private investment house, and Rockfield Real Estate, a vertically integrated living platform, announce that they have completed a new investment as part of their pan-European strategy dedicated to Purpose-Built Student Accommodation (PBSA), following their first investment in Florence last November and a recent one in Barcelona.

The building is a highly innovative and sustainable newly constructed property located at Via Serlio 26/2, in the center of Bologna, just 10 minutes from the central station and easily reachable from the city’s university district.

The seller, Stonehill, completed construction of the property in 2022. Stonehill was one of the first entrants in the Italian PBSA sector and has delivered 1100 rooms to date. It is also active in the Austrian and German student markets. It is about to start construction of two further student developments in leading Italian University cities, totaling 1050 rooms and has secured several further pipeline projects at an earlier stage in the planning process.

The student residence, which meets the highest international standards and is LEED Gold certified, spans 16 above-ground floors and a basement, with a total area of approximately 20,000 sqm. It accommodates over 500 beds, with an occupancy rate close to 100%.

Students can enjoy various common areas such as a lounge, study rooms, service areas, reception, mailroom, gym, cinema room, yoga room, and laundry. The rooms are structured as fully self-contained studio apartments, with a private kitchen and bathroom. The property, designed by TP Bennet, a leading UK firm specializing in student residences, features modern and welcoming interior design with spaces characterized by natural light to ensure maximum comfort for the students.

The Bologna asset marks the third acquisition by Ardian and Rockfield in line with their strategic focus on major university cities across Europe. This is supported by an active investment pipeline in Italy, the Netherlands, Spain, Germany, and France, along with approximately €800m of dry powder, aimed at building a high-quality student housing portfolio. The student residence sector is one of the main real estate segments requiring significant intervention to bridge the gap between growing demand from university students and the existing supply. Italy has one of the lowest supplies of student housing in Europe and is seeing a steady increase in student numbers, a progressive rise in university enrollments, and an influx of international students.

“Our vision is to develop a pan-European portfolio of modern, sustainable, and innovative student residences that meet the needs of students who are increasingly focused on quality of life and the environment. We invest in facilities that offer functional living spaces and create stimulating, collaborative environments to promote students’ well-being. With our commitment to key university cities such as Bologna, we aim to invest in cutting-edge projects and provide our investors with a high-return asset class”. Rodolfo Petrosino, Head of Real Estate Southern Europe, Ardian

“The student accommodation sector in Italy has been experiencing strong growth in recent years, with international student numbers increasing by an average of 7.3% over the last five years. University cities, such as Bologna, are at the center of this growing demand, creating a unique opportunity for investments in modern, sustainable facilities that meet the needs of a new generation of students. Bologna alone hosts over 100,000 students annually, with an increasing number of international students drawn not only to our country’s artistic beauty but also its affordable living costs and high-quality education”. Matteo Minardi, Head of Real Estate Italy and Managing Director, Ardian

“From an investment perspective, this asset is a perfect fit for our portfolio strategy. It enhances our geographic diversification, balancing exposure across established and emerging European university markets. With Laude Living Bologna’s premium positioning and best-in-class amenities, we anticipate stable occupancy rates and strong rental yields, driving long-term income growth and capital appreciation”. Juan Acosta, Partner & CIO, Rockfield

“The acquisition of Laude Living Bologna perfectly aligns with our evergreen fund’s growth model. Our long-term investment horizon and the perpetual nature of our fund provides the flexibility to hold premium assets indefinitely, maximizing value over time and delivering reliable, risk-adjusted returns”. Josep Franch Bellmunt, Investment Director – Southern Europe, Rockfield

The pan-European investment strategy dedicated to Purpose-Built Student Accommodation (PBSA) was born from the partnership between Ardian and Rockfield, with a significant initial commitment from CBRE Investment Management.

List of participants

  • Participants

    • Legal and administrative due diligence: PedersoliGattai
    • Technical due diligence: Yard Reaas
    • Tax due diligence: Fivers

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $177bn 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 20 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 ROCKFIELD REAL ESTATE

Rockfield was established in 2014 with a clear mission to create high quality and sustainable housing solutions for young professionals and students in urban areas. Our founders recognised the growing demand for affordable housing in major cities, coupled with an increasing need for innovative living concepts that not only provide a place to live but also enable residents to grow and thrive within a community.
With this vision in mind, Rockfield started a journey to build a fully integrated real estate company. From the start, we chose to keep all aspects of real estate management in-house, from project development and acquisition to investment and property management. This approach has allowed us to offer tailored solutions that meet needs of both investors and tenants.
Since our inception, we have experienced impressive growth and evolved into a leading investment manager with a portfolio of over €1 billion in assets under management and around 5,000 housing units across various European cities.

www.rockfield.nl

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

ROCKFIELD REAL ESTATE

Steve.hays@belliercommunication.com

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Green Courte Partners Expands Active-Adult Portfolio with Colorado Acquisition

Green Courte Partners

Chicago, Illinois (March 4, 2025) – Green Courte Partners, LLC (GCP), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its sixth investment fund, Green Courte Real Estate Partners VI, LLC and its affiliates, has acquired 55 Resort at Water Valley, a 120-unit active-adult community located in Windsor, Colorado, just north of Denver in the Water Valley master-planned development. This acquisition expands GCP’s national senior living portfolio, managed by its wholly owned operating platform, True Connection Communities, to 21 communities with approximately 3,300 units.

“We are excited to expand our portfolio and establish a presence in the Colorado market with the acquisition of 55 Resort at Water Valley, soon to be rebranded as Eagle’s Peak at Water Valley,” said Matt Pyzyk, managing director at GCP. “This community was a key target for us due to its prime location within the high-growth corridor between Denver and Fort Collins. Its extensive amenities and integration into the Water Valley master-planned community provide an exceptional lifestyle environment for active adults 55 and older. We remain committed to acquiring similar communities as we grow our active-adult portfolio.”

Brad Florin, a counterparty in the transaction, stated, “Having known the GCP leadership team since the community was developed in 2019, we are pleased to finalize this transaction with them. They moved swiftly, met our timeline, and ensured a seamless process.”

About Green Courte Partners

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors. The firm has active investments in the following sectors: active-adult/independent senior living, land-lease communities, industrial outdoor storage, and near-airport parking. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at GreenCourtePartners.com.

About True Connection Communities

True Connection Communities operates a high-quality portfolio of 21 active-adult and independent senior living communities, containing approximately 3,300 units located in 13 states, to meet the growing needs of Americans over the age of 55 seeking an active and engaged lifestyle. To deliver an exceptional resident experience, the company focuses on five key offerings: custom-designed fitness and wellness programs, creative chef-prepared meals made with the freshest seasonal ingredients, social activities designed for a life on the move, innovative educational programs, and state-of-the-art technology. To learn more, visit TrueConnectionCommunities.com.

Investor contact:
Marnie Helfand
(312) 966-4747
MarnieHelfand@GreenCourtePartners.com

Media contact:
Robert Dekker
(312) 966-3816
RDekker@GreenCourtePartners.com

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Flexera Completes Acquisition of NetApp’s Spot FinOps Portfolio

Thomabravo

With this acquisition, Flexera now has the most comprehensive FinOps offering in market

Itasca, IL and San Jose, CA—Flexera, the global leader in technology spend and risk management, today announced it has completed the acquisition of Spot from NetApp (NASDAQ: NTAP), the intelligent data infrastructure company. The acquisition is Flexera’s latest step towards offering a comprehensive set of solutions to help organizations confront growing cloud cost and usage hurdles, especially as the consumption of artificial intelligence (AI) surges and strains cloud budgets.

With this acquisition, Flexera expands its leading Cloud Financial Management offering into a suite of AI-powered FinOps technologies and enhances the value of these offerings by expanding its partner ecosystem. This newly bolstered FinOps portfolio from Flexera allows organizations and managed service providers (MSPs) to manage cloud financial commitments, automate billing and invoicing, reduce workload costs and optimize containers. Flexera FinOps aligns with the expanding scope of FinOps to include data centers, SaaS and public cloud, while also supporting enhanced use cases such as software licensing and sustainability.

“The need for FinOps and cloud cost optimization has never been greater, as critical AI initiatives create more urgency for boards and C-suites to effectively contain swelling cloud and IT spend,” said Jim Ryan, President and CEO of Flexera. “We believe that by bringing Spot and its core products into the Flexera FinOps portfolio, we are now the most comprehensive provider in the space. This also complements our leading positions in IT Asset Management and SaaS Management.”

The Spot business adds new capabilities to Flexera’s FinOps solution with Kubernetes cost management and accelerates innovation in container management, spot cloud instances and commitment management. Spot’s main product lines include:

  • Spot Eco helps organizations unlock the full value of their cloud services with a series of cloud commitment management features, ensuring organizations capture critical savings from reserved instances, savings plans or committed usage discounts across Amazon Web Services, Microsoft Azure and Google Cloud Platform.
  • Spot Ocean is a Kubernetes infrastructure management product that provides continuous optimization of containers for cost, performance and availability.
  • Spot Elastigroup allows organizations to scale their workloads and maximize the value of their cloud investments with spot instances and virtual machines.
  • CloudCheckr is a powerful cloud cost management tool allowing enterprise, MSPs and distributors to manage and reduce cloud costs, optimize resources and gain operational efficiencies, manage billing and invoicing, improve governance, and strengthen security and compliance.

These solutions are accompanied by a robust portfolio of policy-based best practice checks for cost, security, governance and compliance.

“The completion of this transaction further hones our focus of our Public Cloud business. Our highly differentiated first party and marketplace cloud storage services are complemented by intelligent data and operational services such as Data Infrastructure Insights and Instaclustr. These services, in concert with our Hybrid Cloud products, enable customers to build a seamless intelligent data infrastructure across hybrid multi-cloud,” said Haiyan Song, Executive Vice President, Intelligent Operations Services, at NetApp. “We believe that Flexera is the right environment for Spot portfolio of solutions, employees and customers to thrive.”

Flexera’s integration of Spot also creates new opportunities for partners – particularly MSPs and distributors – to develop or enhance their own FinOps services. With Flexera, partners have a chance to tap into a broader portfolio of technologies and specialists, while building value-added services that cover the expanded definition of FinOps to include ITAM and software licensing, SaaS management, AI spend management and more.

“Flexera customers can expect to gain in capabilities and a richer portfolio, such as a whole slew of advanced purchase commitment automation and container cost management and optimization capabilities,” wrote Tracy Woo at Forrester in a recent blog post. “The Spot acquisition is a boon for Flexera both in market presence with CloudCheckr’s dominant channel presence and with the added capabilities of Spot’s Eco (purchase commitments), Elastigroup (spot automation), and Ocean (container management), which all fill major gaps.”

Flexera recently achieved a new FinOps certification milestone, and now has the largest group of FinOps-certified practitioners in the world. The company also made a significant investment in its partner program, with an emphasis on expanding its support for MSPs. These events continue to reinforce Flexera’s proven leadership in FinOps, ITAM and SaaS Management.

About Flexera

Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement and cloud teams to address skyrocketing costs, optimize spend, mitigate risk and identify opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.

About NetApp

NetApp is the intelligent data infrastructure company, combining unified data storage, integrated data, operational and workload services to turn a world of disruption into opportunity for every customer. NetApp creates silo-free infrastructure, harnessing observability and AI to enable the industry’s best data management. As the only enterprise-grade storage service natively embedded in the world’s biggest clouds, our data storage delivers seamless flexibility. In addition, our data services create a data advantage through superior cyber resilience, governance, and application agility. Our operational and workload services provide continuous optimization of performance and efficiency for infrastructure and workloads through observability and AI. No matter the data type, workload, or environment, with NetApp you can transform your data infrastructure to realize your business possibilities. Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

 Read the release on the Flexera website here.

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Novo Holdings participates in $187 million Series A launch financing for Callio Therapeutics to advance innovative dual-payload ADC programs in oncology

Novo Holdings

Investment builds on Novo Holdings’ existing ADC portfolio, leveraging Hummingbird Bioscience’s cutting-edge ADC technology platform.

Newly formed company’s groundbreaking dual-payload ADC programs designed to overcome limitations of existing single-payload therapies.

SINGAPORE and SEATTLE – [March 3, 2025]– Novo Holdings, a leading life science investor today announced that it has invested in a $187M Series A launch financing for Callio Therapeutics, a biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy. In conjunction with the financing, Callio Therapeutics has entered into an exclusive worldwide license agreement with Hummingbird Bioscience, a Novo Holdings portfolio company, for its dual-payload ADC platform in oncology and associated intellectual property and pipeline assets, in exchange for equity, potential milestone payments and royalties.

The oversubscribed Series A financing was led by Frazier Life Sciences, with significant participation from Novo Holdings and other life sciences investors including Jeito Capital, Omega Funds, Norwest, ClavystBio, EDBI, Platanus, Pureos Bioventures and SEEDS Capital.

Headquartered in Seattle and Singapore and launched by Frazier Life Sciences, the newly formed company intends to use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program. The company’s mission aligns with Novo Holdings’ longstanding commitment to advancing innovative ADC technologies and builds on its existing portfolio to support the next generation of precision cancer therapies.

Ken Harrison, Senior Partner, Novo Holdings said: “Novo Holdings is pleased to support Callio Therapeutics to advance its groundbreaking dual-payload ADC programs, leveraging the innovative ADC platform developed by our portfolio company, Hummingbird Bioscience. This investment underscores our commitment to fostering novel oncology therapeutics that have the potential to transform cancer treatment. We look forward to seeing these promising therapies progress through clinical development to benefit cancer patients worldwide.”

In connection with the financing Ken Harrison will join the Callio Therapeutics Board of Directors.

Piers Ingram, PhD, co-founder and Chief Executive Officer, Callio Therapeutics, said: “We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy. This new generation of ADC therapies may meaningfully improve outcomes for patients.”

Adam Simpson, Executive Board Chair, Callio Therapeutics and Venture Partner, Frazier Life Sciences said: “The dual-payload ADCs being developed at Callio Therapeutics have the potential to address large unmet medical needs by overcoming many of the limitations of existing ADCs. With the expertise of the Callio Therapeutics team, together with access to the innovative dual-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy.”

Led by CEO Pier Ingram, the founding Callio Therapeutics management team comprises individuals with extensive experience from leading biotechnology and biopharmaceutical companies including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech:

·       Piers Ingram, PhD, Chief Executive Officer

·       Jerome Boyd-Kirkup, PhD, Chief Scientific Officer

·       Naomi Hunder, MD, Chief Medical Officer

·       Angèle Maki, PhD, Chief Business Officer

 

About Callio Therapeutics
Headquartered in Seattle and Singapore, Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, dual-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of dual agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics’ lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience. For more information , please visit www.calliotx.com and follow Callio Therapeutics on LinkedIn.

About Hummingbird Bioscience
Hummingbird Bioscience is a Singapore-based biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience’s computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity. At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.  Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.  As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.  www.novoholdings.dk

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

Further information

Dora Gonzalez,
Senior Public Relations Specialist
dopg@novo.dk

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