Category Archives: News

CVC welcomes strategic minority partnership investment from KKR into Etraveli Group

CVC Capital Partners

CVC Capital Partners (“CVC”) today announced that KKR has agreed to acquire a significant minority stake in global travel technology company Etraveli Group. The strategic partnership between CVC and KKR positions Etraveli Group for an exciting next chapter of growth and reinforces its position as the world’s largest flight intermediary and fulfilment company outside of China. Financial details of the transaction have not been disclosed.

Headquartered in Stockholm, Sweden, Etraveli Group operates a sophisticated Flight Tech Platform that delivers airline tickets to nearly 50 million travellers annually across 75 markets. With a mission to offer the broadest range of high-quality air content – easy to book and competitively priced – the company leverages AI-driven technology, deep industry expertise and strong strategic partnerships. Its services are delivered through its own consumer-facing brands such as Gotogate, Mytrip and Flightnetwork, as well as through its booking and fulfilment solutions for global partners like Booking.com, Radisson Hotel Group and TUI.

“We are excited to welcome KKR as a new investment partner, given their strong track record in the global travel and technology markets,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “This is another landmark moment for Etraveli Group that strengthens our global position and marks the next chapter in our effort to bring innovation and expertise to facilitate flight purchases for customers around the world. Together with CVC and KKR, we look forward to accelerating the expansion of our global B2B Flight Tech Platform and continuing to deliver smart, seamless travel solutions together with our partners.”

CVC’s Technology and Nordic teams led the acquisition of Etraveli Group from media company ProSiebenSat.1 in 2017, partnering with management to accelerate the company’s transformation into the global market leader. Today, Etraveli Group facilitates over €15 billion of flight sales annually, having consistently delivered strong double-digit growth, with earnings today approximately 4x higher than at the time of the CVC fund’s original investment. Etraveli Group is well-positioned for sustained growth, underpinned by its strategic partnership with Booking.com, a robust pipeline of B2B opportunities and a promising fintech offering.

Quotes

Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group.

Lorne Somerville and Gustaf Martin-LöfCVC

“Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group. We look forward to continuing our involvement with the business as a joint shareholder with our new partners at KKR and we’re excited to embark on the next phase of the journey with the company,” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, and Gustaf Martin-Löf, Partner of CVC.

Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, said: “Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration and a strong track record. We are pleased to partner with the Etraveli Group’s leadership team and CVC to deliver a tailored capital solution that will help support Etraveli Group’s continued expansion and innovation. This investment builds on KKR’s commitment to backing European champions and contributing to the growth of high-quality, tech-enabled businesses.”

KKR is investing in Etraveli Group primarily through funds and accounts managed by its Strategic Investments Group, which provides structured partnership capital solutions, alongside the full breadth of KKR’s value-added resources to market leading businesses.
J.P. Morgan Securities Plc acted as Exclusive Financial Adviser to CVC, in connection with KKR’s minority partnership investment into Etraveli Group.

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Bridgepoint to partner with mydentist, the UK’s leading provider of affordable dentistry, as Palamon exits

Bridgepoint
  • Bridgepoint to acquire a majority stake in mydentist from Palamon Capital Partners
  • mydentist management team remain invested while Palamon Capital Partners fully divests its holdings
  • With Bridgepoint’s backing, mydentist will continue to expand its clinical team, invest in digital transformation, and grow its network to improve access to affordable, high-quality dental care

 

Bridgepoint, one of the world’s leading quoted private asset growth investors, today announced that funds advised by Bridgepoint have agreed to acquire a majority stake in mydentist, the UK’s leading provider of affordable dentistry, from Palamon Capital Partners, a pan-European growth buyout private equity investor.

The current management team, led by Nilesh Pandya, CEO of mydentist, will remain invested in mydentist, while existing shareholder Palamon Capital Partners will fully exit its holding.

mydentist operates more than 500 dental practices across the UK. With over 3,500 dental professionals and more than 2,500 surgeries nationwide, mydentist is the UK’s largest dental provider by revenue, practices and clinicians.

Over the past few years, mydentist has delivered strong performance, underpinned by increased access to affordable dental care for NHS and private patients, continued investment in the latest digital infrastructure, and a focus on building the leading practice network and clinical support in UK dentistry.

Bridgepoint will support mydentist in growing its clinical team and expanding access to high-quality affordable dental care. This will be underpinned by continued investment in digital transformation and state-of-the-art equipment, including the roll-out of more intra-oral scanners and other tools to improve  patient care and journey, and clinical efficiency.

Bridgepoint brings deep experience in healthcare services and dental businesses, with its investment in Oris Dental, one of Scandinavia’s leading dental groups, and previous investment in Oasis Dental Care, which Bridgepoint transformed into a UK market leader before its successful sale to Bupa in 2017.

Palamon acquired a majority stake in mydentist in 2021 and subsequently sold subsidiary DD Group (formerly Dental Directory), the UK and Ireland’s leading supplier of specialist dental and medical aesthetics products, to accelerate investment in the core dental services business.

Nilesh Pandya, CEO of mydentist, said: “Today marks an exciting new chapter for mydentist, for our clinicians and practice teams, and – most importantly – for our patients. We are deeply proud of the business we have built to date, and I would like to thank Palamon for their support over the last few years. Our new partnership with Bridgepoint will provide the deep market knowledge and expert resources to help us accelerate the next stage of our growth, ensuring we can provide high-quality, affordable oral care to more patients than ever before.

“We will achieve this by driving digital innovation to optimise our clinical outcomes and patient journey, investing further and faster in our state-of-the-art practice network to transform how dentistry is delivered and bring it into accessible consumer settings, and continue expanding our industry-leading support team so that we can truly be the best place to work anywhere in UK dentistry.”

Tom Riall, Executive Chairman of mydentist, said: “We are delighted to welcome Bridgepoint as our new investment partner. This unlocks an exciting new future for mydentist with a significant opportunity for us to further invest in NHS dentistry and cement our position as the undisputed market champion of affordable dentistry across the UK.”

Jamie Wyatt, Partner at Bridgepoint, said: “We are delighted to invest in the UK dental sector again and to partner with the mydentist management team, whom we have known for many years, to support the next chapter of their growth. With strong foundations, a compelling model, and clear opportunities for expansion, from clinician recruitment to digitisation and M&A, the business is well positioned to scale its impact even further and continue to support more patients to access high-quality, affordable dental care.”

Fabio Massimo Giuseppetti, Partner at Palamon, said: “In 2021, we took the opportunity to re-invest with the mydentist leadership team in their pioneering vision to transform UK dentistry with a high-quality, affordable dental offering that delivers best-in-class care, greater choice for patients, and freedom, flexibility and support for clinicians. We are proud to have supported mydentist’s stellar management team to shape the company’s strategic direction, including the successful divestment of its subsidiary DD Group in 2022, which allowed us to accelerate investment across digitisation, estate transformation and modernisation, and operational excellence. I thank the entire mydentist team for their commitment and look forward to seeing the next phase of growth.”

The transaction is subject to customary conditions and regulatory approvals and is expected to close in Q3 2025.

mydentist was advised by Morgan Stanley & Co. International plc (Financial Advisor) and Slaughter and May (Legal Advisor).

Bridgepoint was advised by Rothschild & Co (Financial Advisor), EY-Parthenon (Financial, Tech & Cyber DD), and Latham & Watkins (Legal Advisor).

Palamon Capital Partners was advised by Morgan Stanley & Co. International plc (Financial Advisor) and Slaughter and May (Legal Advisor).

Bridgepoint Group is one of the world’s leading quoted private asset growth investors, specialising in private equity, infrastructure and private credit.

With over $86 billion of assets under management and a strong local presence in Europe, North America and Asia, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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CVC welcomes strategic minority partnership investment from KKR into Etraveli Group

KKR

Stockholm, Sweden, 21 July, 2025 

CVC Capital Partners (“CVC”) today announced that KKR has agreed to acquire a significant minority stake in global travel technology company Etraveli Group. The strategic partnership between CVC and KKR positions Etraveli Group for an exciting next chapter of growth and reinforces its position as the world’s largest flight intermediary and fulfilment company outside of China. Financial details of the transaction have not been disclosed.

Headquartered in Stockholm, Sweden, Etraveli Group operates a sophisticated Flight Tech Platform that delivers airline tickets to nearly 50 million travellers annually across 75 markets. With a mission to offer the broadest range of high-quality air content – easy to book and competitively priced – the company leverages AI-driven technology, deep industry expertise and strong strategic partnerships. Its services are delivered through its own consumer-facing brands such as Gotogate, Mytrip and Flightnetwork, as well as through its booking and fulfilment solutions for global partners like Booking.com, Radisson Hotel Group and TUI.

“We are excited to welcome KKR as a new investment partner, given their strong track record in the global travel and technology markets,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “This is another landmark moment for Etraveli Group that strengthens our global position and marks the next chapter in our effort to bring innovation and expertise to facilitate flight purchases for customers around the world. Together with CVC and KKR, we look forward to accelerating the expansion of our global B2B Flight Tech Platform and continuing to deliver smart, seamless travel solutions together with our partners.”

CVC’s Technology and Nordic teams led the acquisition of Etraveli Group from media company ProSiebenSat.1 in 2017, partnering with management to accelerate the company’s transformation into the global market leader. Today, Etraveli Group facilitates over €15 billion of flight sales annually, having consistently delivered strong double-digit growth, with earnings today approximately 4x higher than at the time of the CVC fund’s original investment. Etraveli Group is well-positioned for sustained growth, underpinned by its strategic partnership with Booking.com, a robust pipeline of B2B opportunities and a promising fintech offering.

“Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group. We look forward to continuing our involvement with the business as a joint shareholder with our new partners at KKR and we’re excited to embark on the next phase of the journey with the company,” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, and Gustaf Martin-Löf, Partner of CVC.

Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, said: “Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration and a strong track record. We are pleased to partner with the Etraveli Group’s leadership team and CVC to deliver a tailored capital solution that will help support Etraveli Group’s continued expansion and innovation. This investment builds on KKR’s commitment to backing European champions and contributing to the growth of high-quality, tech-enabled businesses.”

KKR is investing in Etraveli Group primarily through funds and accounts managed by its Strategic Investments Group, which provides structured partnership capital solutions, alongside the full breadth of KKR’s value-added resources to market leading businesses.

J.P. Morgan Securities Plc acted as Exclusive Financial Adviser to CVC, in connection with KKR’s minority partnership investment into Etraveli Group.

 

– Ends –

About Etraveli Group

Etraveli Group (ETG) is a global technology company headquartered in Sweden. The company specialises in delivering high-quality flight content through flexible technology solutions – empowering both consumers and the companies that serve them. Etraveli Group’s services span the full flight journey – from search to booking to fulfilment – offered via leading consumer brands such as Gotogate, Mytrip and Flightnetwork, as well as through global partnerships with Google Flights, Skyscanner, KAYAK, Booking.com and others. ETG also operates TripStack, an airline integration platform, and Flightmate (Flygresor.se), a leading flight metasearch engine. The Group encompasses a team of over 3,100 professionals, working across offices and tech hubs in Sweden, Greece, Poland, the UK, Canada, India and Uruguay. For more information, visit: www.etraveligroup.com

About CVC

CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €202 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €260 billion from some of the world’s leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 140 companies worldwide, which have combined annual sales of over €168 billion and employ over 600,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.

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.

 

Media Contacts

For Etraveli Group
Kristoffer Rengfors
press@etraveligroup.com

For CVC
Carsten Huwendiek
+44 207 420 4200
chuwendiek@cvc.com

For KKR
Miles Radcliffe-Trenner
media@kkr.com

 

 

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EQT to Acquire Adevinta’s Spanish Online Classifieds Businesses

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  • The EQT X fund has agreed to acquire Adevinta’s Spanish operations (“Adevinta Spain”), including leading Spanish online classifieds platforms such as Coches.net, InfoJobs, Milanuncios, Fotocasa, and Habitaclia
  • Adevinta Spain’s underlying markets are supported by favourable secular megatrends in their respective verticals, such as an increasing shift from offline to online marketing, as well as significant value to customers driven by the platforms’ strong brand recognition
  • EQT will support the continued growth momentum of the various platforms, capitalizing on EQT’s strong digital expertise, “local with locals” approach, and extensive global track record in the online classifieds sector

EQT is pleased to announce that the EQT X fund (or “EQT”) has agreed to acquire Adevinta’s Spanish operations from Aurelia Netherlands TargetCo B.V.

Adevinta Spain encompasses some of Spain’s most well-established online classifieds platforms, including Coches.net, InfoJobs, Milanuncios, Fotocasa, and Habitaclia:

  • Coches.net, Spain’s leading digital automotive classifieds platform, supports approximately 7,000 dealers and 20 million monthly visitors by providing an online vehicles marketplace for car owners and buyers.
  • InfoJobs is Spain’s leading online job marketplace, connecting a broad base of candidates with an extensive network of employers.
  • Fotocasa and Habitaclia support real estate agents as well as home buyers and sellers in Spain by providing an online real estate classifieds marketplace.
  • Milanuncios is one of Spain’s largest general classifieds platforms, allowing users to buy and sell goods and services across various categories including consumer goods, vehicles, and other categories

EQT will support Adevinta Spain’s growth as it transforms into a fully independent company by accelerating product innovation, improving customer experience, and expanding AI and technology infrastructure. EQT will work closely with the leadership teams of the various platforms to support their long-term strategy.

This acquisition builds on EQT’s track record in the online classifieds sector globally and its long-standing presence in Spain. Recent transactions in the region include the acquisition of Universidad Europea, a leading private higher education platform in Spain and Portugal, and a growth investment in TravelPerk, a leading global travel and expense management platform based in Barcelona. 

Bert Janssens, Co-Head of Private Capital Europe & North America at EQT, said: “Adevinta Spain represents a highly thematic investment within one of EQT’s core sub-sectors, consumer internet. This investment reflects our strategy of backing high-growth platforms and partnering with world-class Management teams. We’re impressed by the businesses and look forward to supporting Adevinta Spain and its leadership team as they enter this next phase of growth.”

“Adevinta Spain’s platforms are leaders in their respective verticals in Spain, which gives them a promising base from which to further grow,” said Carlos Santana, Partner and Head of Spain & Italy Private Capital at EQT. “We’re excited to partner with the Management teams to help them scale, modernize and continue delivering value to Spanish customers and businesses.”

The transaction is subject to customary conditions and approvals. It is expected to close during Q1 2026. With this transaction, EQT X is expected to be 60 – 65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Clifford Chance served as legal counsel to EQT and Ernst & Young as financial, tax and carve-out advisor.

Contact
EQT Press Office, press@eqtpartners.com

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About EQT
EQT is a purpose-driven global investment organization with €‌​​266​‌ billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

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Ardian finalizes the lease of office property at Via Vespucci 2 in Milan

Ardian

Acquired in December 2022, the property, located in the strategic Porta Nuova district, is being extensively redeveloped into a modern, forward-looking workspace, meeting the highest international ESG standards.
• Ardian reaffirms its role as a key player in the green office sector in prime locations, a market characterized by steadily growing demand and a very limited supply.

Ardian, a world-leading private investment firm, and Investire SGR, a leading asset & investment management company in the real estate sector in Italy, announce that they have leased the entire property at Via Amerigo Vespucci 2 in Milan.

The 10-storey standalone property, spanning approximately 10,000 sqm, is undergoing extensive redevelopment as part of a major investment plan to create a cutting-edge structure focused on sustainability and innovation, qualifying it as a Net Zero Energy Building. The project is designed to minimize energy consumption and CO₂ emissions by integrating renewable energy sources, such as geothermal systems and rooftop solar panels. The building aims to keep emissions below 65 kWh/sqm and will achieve LEED Platinum, BREEAM Very Good, WELL Gold, Wired Score, and EPC A certifications.

The project has been designed by Stefano Belingardi Architetti – an Italian firm with a proven international track record. It features over 1,300 sqm of terraces offering unique views of Milan’s skyline, a rooftop with a 360-degree panoramic view of the city, a hidden 200-sqm inner garden, and an agora enhanced by a system of striking stepped platforms that create dynamic communal spaces for users.

The intervention has completely repositioned the property, addressing the growing demand for green office spaces in prime locations across Milan and Europe, amid an increasingly limited supply. This structural shortage is driving up rental values and reshaping the market, which is now more focused on assets in key urban areas that align with the evolving needs of tenants. In addition, the project has revitalized an iconic building in one of Milan’s most dynamic districts, widely recognized as a hub for urban innovation.

“This important lease is further recognition of the project’s quality and Ardian’s vision in promoting work environments that are sustainable, innovative, and focused on well-being. It has attracted top-tier international tenants thanks to a real estate development strategy focused on both energy performance and sensitivity to the surrounding urban context. The initiative forms part of a broader strategy aimed at creating new and lasting value through modern, efficient assets that are seamlessly aligned with the dynamics of today’s market.” Rodolfo Petrosino, Head of Real Estate Southern Europe and Senior Managing Director, Ardian

“Vespucci 2 is the demonstration that offices are far from dead; on the contrary, they continue to attract growing demand from multinational companies, particularly when located in prime areas and equipped with high environmental sustainability performance. We are observing this trend across major European cities, and it’s even more noticeable in Milan due to a lack of quality stock and a limited pipeline of future operations. We are particularly proud of this lease, confirming the strength of our investment strategy in this asset class and our team’s ability to deliver high-impact value-enhancement initiatives.” Matteo Minardi, Head of Real Estate Italy and Managing Director, Ardian

“We are proud to have supported Ardian in this transaction, aimed at enhancing a strategic asset in one of the most dynamic areas of Milan. Through an approach based on environmental sustainability, energy efficiency, and innovative design, we contribute to bringing back to the market a building capable of meeting the new demand for high-quality workspaces. When reimagined through an ESG lens, the office asset class continues to offer concrete opportunities to attract international tenants and generate value for investors.” Alessandro Polenta, Managing Director, Investire SGR

Dils and JLL advised Ardian on the transaction.

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT INVESTIRE SGR

Investire SGR SpA is a leading asset and investment management company in the Italian real estate market, with approximately €7 billion in assets under management, over 60 real estate funds and SICAFs, and a specialized team of 140 professionals with deep expertise across the real estate sector (offices, residential, retail, healthcare, hospitality, and logistics). Investire SGR provides fund management, asset management, advisory, acquisition and development services, and acts as a trusted partner to both Italian and international investors.

investiresgr.it

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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EQT to acquire Adalvo, a leading B2B dossier developer

eqt

Adalvo

  • EQT X to acquire Adalvo, a rapidly growing, asset-light B2B dossier developer providing market-approval-ready generic drug dossiers to pharmaceutical companies
  • EQT will support Adalvo’s next phase of growth, further investing in R&D and innovation, and advancing the operational scale-up of the business 
  • Adalvo is uniquely positioned as a one-stop partner, combining strong business development capabilities with a flexible, customer-centric model to meet the bespoke needs of pharmaceutical companies worldwide
  • Adalvo plays an important role in increasing access to affordable healthcare by developing and distributing generic drugs at affordable prices across a wide range of markets. The transaction highlights EQT’s commitment to partnering with companies that deliver critical services to society

EQT X (“EQT”) has agreed to acquire a majority stake in Adalvo (the “Company”), a leading asset-light B2B dossier developer. Existing shareholders, including Aztiq, the holding company of Adalvo’s current Chairman Róbert Wessman, will reinvest part of their existing holdings and remain minority shareholders.

Since its founding in 2018, Adalvo has grown rapidly and become a partner to over 170 generic companies in more than 140 countries worldwide. Headquartered in Malta, with more than 280 employees and offices in 15 countries across Europe and India, the Company offers a specialty portfolio, driving affordable health outcomes for patients globally. With increasing demand for effective treatments across indications and therapeutic areas, Adalvo is well-positioned for continued expansion.

EQT will invest in the next phase of Adalvo’s growth journey through targeted investments in R&D, supply chain, and operational excellence. This will help expand its product portfolio with a steady cadence of new launches, expand the robust supply chain to cover a wide range of partners and jurisdictions, and enhance business development opportunities for its partners through greater flexibility, reach, and speed to market.

Matteo Thun, Partner within EQT Private Capital’s Advisory Team, said: “EQT is deeply impressed by Adalvo’s competitive position in dossier development, with an agile and scalable model for development and partnerships with leading pharmaceutical companies globally. We look forward to joining forces with the entrepreneurial and highly respected management team, led by CEO Anil Okay, and to investing in the next chapter of continued growth. Looking ahead, we are committed to supporting Adalvo and its employees in its pivotal role to provide access to affordable healthcare to patients around the world. We are impressed by what Adalvo has achieved under Róbert Wessman’s ownership, and are delighted that he will also be part of the next phase of the journey as a minority shareholder.”

Anil Okay, CEO of Adalvo, added: “Over the past seven years, we’ve built a dynamic and innovative platform that supports our partners globally and delivers better healthcare outcomes. We’re excited to welcome EQT as a strategic partner, whose long-term vision, cultural alignment, and demonstrated track record in healthcare make them an ideal match to support Adalvo’s continued expansion. We remain committed to advancing Adalvo’s intrinsic purpose of making affordable medicines accessible to patients around the world.”

Róbert Wessmann, Founder & Chairman of Aztiq, commented: “Like all other companies we have founded, Adalvo has been focused on meeting the growing demand globally for better access to high-quality, yet affordable medications. When we founded Adalvo together in 2018 our vision was to revolutionize the important business-to-business segment of the pharmaceutical industry and enable our partners world-wide to meet this growing demand.  I am immensely proud of what Adalvo, and its leadership team have achieved in such a short period of time. I would like to congratulate EQT on the acquisition of this amazing company, and am confident that under their stewardship, Adalvo will continue to flourish and achieve even greater success. I look forward to working with EQT on advancing Adalvo’s mission, as a minority shareholder”

The transaction is subject to customary conditions and approvals. It is expected to close during H2 2025.

With this transaction, EQT X is expected to be 55 – 60 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
EQT Press Office, press@eqtpartners.com

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About EQT
EQT is a purpose-driven global investment organization with €‌​​266​‌ billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, YouTube and Instagram 

About Adalvo
Adalvo is a global pharmaceutical company, and one of the leading B2B pharmaceutical companies in Europe, with commercial partnerships in more than 140 countries and over 170+ commercial partners globally. The company’s declared purpose is to make a difference for patients all over the world, driven by its smart collaboration network and commitment to delivering the highest quality differentiated products and services. 

Adalvo’s brand promise is to be “Always on Target” for its partners and patients.

More info: www.adalvo.com

About Aztiq
Aztiq is a visionary healthcare-focused private equity company dedicated to fostering innovation and driving positive changes within the industry. Led by Robert Wessman and a team of veteran entrepreneurs, Aztiq is committed to identifying, investing in, and nurturing ground-breaking healthcare solutions in pharma and biotech to address global healthcare challenges. By leveraging the cumulative experience of the team, Aztiq aims to improve patient outcomes, increase access to quality healthcare, and create a more efficient and sustainable healthcare ecosystem. With a proven track record of success, Aztiq continues to make a lasting impact on the health and well-being of people around the world.

More info: www.aztiq.com

Follow Aztiq on LinkedIn

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CVC Credit provides debt facilities to smartTrade through its European Direct Lending strategy

CVC Capital Partners

CVC Credit is pleased to announce that it has provided debt facilities to support the acquisition and growth strategy of smartTrade Technologies (“smartTrade”), a global SaaS platform providing multi-asset trading and payment software, owned by TA Associates.

Headquartered in Southern France, with subsidiaries in London, Paris, Geneva, New York, Toronto, Tokyo and Singapore, smartTrade provides essential FX trading software used for order management, trade execution and post-trade support. It boasts a global blue chip client base of large, regional and local banks, brokerages and corporations.

This investment has been made through CVC Credit’s European Direct Lending strategy, which focuses on lending to established European medium and large companies, with a focus on the senior secured piece of the capital structure.

Eva Boutillier, Managing Director at CVC Credit, said: “We are delighted to announce this latest transaction for our European Direct Lending strategy, leveraging the broader CVC Network’s expertise in the software sector to diligence smartTrade and gain comfort around the business’s strong fundamentals, attractive market and ambitious growth strategy.

Quotes

smartTrade is exactly the type of business we like to invest in through this strategy, with strong existing market positioning but also a large addressable market to allow for further future growth.

Andrew DaviesManaging Partner and Head of CVC Private Credit

Andrew Davies, Managing Partner and Head of CVC Private Credit, added: “smartTrade is exactly the type of business we like to invest in through this strategy, with strong existing market positioning but also a large addressable market to allow for further future growth. We are also pleased to strengthen our relationship with TA Associates, a high-quality sponsor that has experience investing in this sector.”

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Stonepeak to Invest USD 1.3 Billion in Princeton Digital Group

Stonepeak

With USD 2.5 billion raised this year, PDG positions itself to accelerate scale by organic growth and M&A

Singapore – 17 July 2025 – Princeton Digital Group (PDG), Asia Pacific’s leading data center operator, today announced the signing of a definitive agreement with Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. The firm will make a preferred equity investment of USD 1.3 billion in PDG to support its continued expansion across Asia Pacific.

This investment follows PDG’s recently announced USD 1.2 billion debt financing. Together, Stonepeak’s investment and the recent debt financing bring the total capital raised by PDG in 2025 to USD 2.5 billion across equity and debt, reinforcing the company’s position as a leading provider of hyperscale infrastructure in Asia.

With a current portfolio of over 1.1 gigawatts across six countries, PDG is one of the region’s largest and fastest-growing data center platforms. With marquee global investors—Warburg Pincus, Ontario Teachers’ Pension Plan, Mubadala, and now Stonepeak—PDG is uniquely positioned with long-term backing from some of the world’s most respected capital partners.

Stonepeak’s long-term capital will support the company’s next phase of growth, including both greenfield development and M&A, across both established and emerging Asia Pacific markets. Warburg Pincus will continue to be PDG’s largest shareholder.

“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, Chairman, CEO and Co-founder of PDG. “Stonepeak shares our deep conviction in the unprecedented growth of AI and cloud across Asia Pacific. With this partnership, PDG is uniquely positioned to scale with speed, continue being the trusted provider to the world’s most demanding hyperscalers, and further consolidate its position as a market leader in the region.”

“PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region. The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets in APAC positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region,” said Andrew Thomas, Senior Managing Director at Stonepeak. “This investment is a quality fit for our Asia infrastructure strategy, and we look forward to partnering with PDG’s management team, Warburg Pincus and existing shareholders to propel the company’s next phase of growth.”

Ellen Ng, Co-Head of Asia Real Estate at Warburg Pincus, said, “As a founding investor of PDG we’ve always believed in the founders’ vision and exceptional execution capabilities and supported the company’s evolution into Asia’s preeminent data center platform. This latest investment by Stonepeak is a strong validation of PDG’s market leadership and long-term strategy. As PDG’s largest shareholder, we are excited to welcome a like-minded partner to help propel the company into its next phase of growth, supporting the surging demand for AI and cloud infrastructure across the region.”

PDG is being advised by Goldman Sachs, J.P. Morgan, and Latham & Watkins as legal counsel. Barclays is serving as financial advisor and Sidley Austin LLP is serving as legal counsel to Stonepeak.

About Princeton Digital Group
Princeton Digital Group (PDG) is a leading developer and operator of Internet infrastructure. Headquartered in Singapore with presence and operations in Singapore, Japan, India, Indonesia, China, and Malaysia, its portfolio of data centers powers the expansion of hyperscalers and enterprises in the fastest-growing digital economies across Asia. For more information, visit www.princetondg.com or follow us on LinkedIn.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

For more information please contact:

Princeton Digital Group
Selena Sheikh
Selena.sheikh@princetondg.com

Finn Partners for Princeton Digital Group
PDG.ASIA@finnpartners.com

Kate Beers / Maya Brounstein for Stonepeak
corporatecomms@stonepeak.com
+1 (646) 540-5225

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SupplyHouse Receives Strategic Investment from KKR

KKR

Melville, NY and New York, NY – July 17, 2025 – SupplyHouse (or, the “Company”), a leading pure-play e-commerce platform for the distribution of HVAC, plumbing, and electrical products, and KKR, a leading global investment firm, announced the formation of a strategic partnership to support the Company’s long-term growth strategy. As part of the strategic partnership, funds affiliated with KKR have invested in SupplyHouse. Financial terms were not disclosed.

Founded in 2004, SupplyHouse is one of the fastest-growing distributors in its category, having served over 7 million customers across the U.S. through its proprietary e-commerce platform, leading TradeMaster loyalty program, nationwide logistics network, and best-in-class customer service team. With a relentless focus on customer experience, the Company supports professionals across the HVAC, plumbing, and electrical trades. Built on a culture of teamwork, innovation, and customer-centricity, SupplyHouse is consistently recognized as one of the best places to work in the United States.

“We are excited to welcome KKR as a strategic partner, especially given our shared values around cultivating a ‘team first’ mindset,” said Josh Meyerowitz, Founder and CEO of SupplyHouse. “KKR’s experience and long-term vision align with our goals to expand our operations and enhance our service while maintaining our culture. I am proud of all that SupplyHouse’s 1,200 team members have achieved together and we are confident this strategic partnership will enable us to continue our growth journey.”

“Josh and the SupplyHouse team have developed a differentiated, vertical-focused e-commerce model that delivers meaningful value to customers and has driven an exceptional track record of organic growth,” said Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant Strategy. “We are excited by the compelling culture Josh has fostered at SupplyHouse that puts employees and customers at the center, which aligns well with KKR’s own approach to broad-based employee ownership and engagement. We look forward to working with the entire SupplyHouse team as we embark together on this next exciting chapter of growth and innovation.”

As part of the Company’s continued commitment to building a people-first culture, SupplyHouse will collaborate with KKR in ensuring all team members continue to share in the Company’s future success. This strategy is based on the shared belief that employee engagement is a key driver in building stronger companies.

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

Evercore served as exclusive financial advisor to SupplyHouse, and Sidley Austin LLP acted as legal advisor. Baird served as exclusive financial advisor to KKR, and Kirkland & Ellis LLP acted as legal advisor.

About SupplyHouse

SupplyHouse is a leading e-commerce distributor of HVAC, plumbing, and electrical products. Founded in 2004, the Company serves trade professionals across the United States through a proprietary digital platform that features intuitive tools designed to simplify product discovery and purchasing. SupplyHouse offers over 250,000 SKUs from more than 500 brands and operates a national fulfillment network capable of reaching 98% of the U.S. population within two days. With a strong focus on the customer experience, the Company delivers high-quality service through a dedicated, in-house support team and its TradeMaster loyalty program, which offers added value and convenience for professional customers. Its people-first culture emphasizes teamwork, continuous improvement, and long-term growth, and has earned the Company national recognition as an outstanding workplace.

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.

Media

For SupplyHouse:
Kaylin Staub
kaylins@supplyhouse.com

For KKR:
Kenny Juarez
(212) 750-8300
media@KKR.com

 

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EQT Completes Acquisition of Niwas Housing Finance

eqt
  • Niwas Housing Finance, formerly known as IndoStar Home Finance, is a fast-growing affordable housing finance company with INR 30 billion (USD 359 million) in assets under management that has supported over 47,000 low income homeowners and small businesses across India
  • The transaction reinforces EQT’s strategic focus on financial services in India, a sector benefiting from the secular growth of the country’s expanding middle class and rising demand for accessible financial solutions
  • EQT will invest INR 5 billion (USD 58 million) as growth capital to support geographic expansion and enhance digital capabilities of Niwas  

MUMBAI – 17 July 2025 – EQT is pleased to announce the completion of the acquisition of Niwas Housing Finance Limited (“Niwas or the “Company”), formerly known as Indostar Home Finance, from IndoStar Capital Finance Limited, by the BPEA EQT Mid-Market Growth Partnership (“the MMG fund”). EQT will invest INR 5 billion (USD 58 million)[1] as growth capital to support geographic expansion and enhance digital capabilities of Niwas.

This transaction marks a significant milestone in Niwas’ journey as it expands its presence across India. Founded in 2017, Niwas provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 47,000 low income homeowners and small businesses. Niwas has AUM of over INR 30 billion as of 31 March 2025, comprising granular, retail, and secured loans.

India’s INR 30+ trillion housing finance market presents a compelling long-term opportunity, driven by urbanization, rising middle-income households, and strong government support for affordable housing. The sector has shown resilience across economic cycles and plays a critical role in advancing financial inclusion. This transaction reinforces EQT’s strategic focus on financial services in India, a sector benefiting from the secular growth of the country’s expanding middle class and rising demand for accessible financial solutions. Niwas is well positioned to serve this demand and will benefit from EQT’s in-house digitalization expertise, network of industry advisors, and expertise in go-to-market strategies.

K.R. Kamath, Chairperson of the newly constituted Board of Niwas Housing Finance, added: “Niwas is well-positioned to expand access to home ownership in India. As we embark on this renewed journey of Niwas, I am confident that the new board’s collective experience will provide valuable strategic guidance and oversight to the Company, ensuring Niwas scales responsibly, with customer-centricity and prudence at its core.”

Hemant Sharma, a Partner in the EQT Private Capital Asia advisory team, said: “India’s retail lending sector continues to offer exciting opportunities and is a key investment theme for EQT in India. With the acquisition of Niwas, we are deepening our commitment to the sector following our investment in the education finance space through Credila last year. We look forward to supporting Niwas in scaling operations across India, accelerating digital transformation, and enhancing governance.”

Shreejit Menon, CEO of Niwas Housing Finance, said: “We are thrilled to welcome EQT as our new partner with their strong track record of scaling financial services businesses and active ownership approach. Their focus on performance, digital enablement, sustainability, and governance aligns with our vision of building a differentiated housing finance company. With EQT’s support and global expertise along with the guidance of incoming Board Members, we are confident of accomplishing our mission to help 150,000 families realize their dreams of home ownership by 2029.”

 

[1] Converted at an exchange rate of 86 INR/USD

 

Contact
EQT Press Office, press@eqtpartners.com

 

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About EQT

EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

 

About Niwas Housing Finance

Niwas Housing Finance (formerly known as IndoStar Home Finance) is an affordable housing finance player with an AUM of over INR 30 Bn and a network of 140+ branches. The company was incorporated in October 2017 with the objective of providing low ticket housing loans and loan against property to the middle income and under-served customers in India. Niwas has an experienced management team with a pan-India presence across 9 states in India.

More info: https://www.niwashfc.com/about-us

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