Category Archives: News

A.P. Moller Holding announces the acquisition of Ocean Yield from KKR

KKR

openhagen / London / Oslo, 2 July, 2026: A.P. Møller Holding A/S (A.P. Moller Holding) and KKR, a leading global investment firm, today announced that they have signed an agreement under which a subsidiary of A.P. Moller Holding will acquire 100% of Ocean Yield AS (Ocean Yield), a leading global ship leasing platform, from funds managed by KKR.

Headquartered in Oslo, Norway, Ocean Yield holds interests in over 70 modern vessels, across several core shipping sectors, including gas carriers, container ships, LNG carriers, crude, product and chemical tankers, and dry bulk carriers. Under KKR’s ownership, Ocean Yield has invested more than $3 billion to further expand the existing portfolio, diversify and broaden its investment-grade customer base, and has nearly doubled its long-term contracted backlog to more than $5 billion.

The acquisition of Ocean Yield strengthens A.P. Moller Group’s maritime portfolio, and builds on the Group’s long-term maritime legacy across many segments.

Martin Larsen, CFO of A.P. Moller Holding, said: “We are impressed by Ocean Yield’s performance and its management team. We believe that combining Ocean Yield’s compelling platform with our century-long experience in the maritime industry will create a strong partnership. In addition, we see Ocean Yield’s business model, with its stable cash flow, as an excellent complement to our existing maritime portfolio.”

Andreas Røde, CEO of Ocean Yield, commented: “Since 2021, we have strengthened Ocean Yield as a globally diversified maritime leasing platform with long-duration, high-quality contracted cash flows and a modern fleet positioned for the energy transition. Under private ownership, we have been able to think and act long term as we have partnered with leading shipping companies and end users providing critical infrastructure assets to the maritime industry. We are therefore excited to start our next chapter of growth with A.P. Moller Holding.”

Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: “We are proud of the transformation Ocean Yield has delivered during our strategic partnership. Together with the management team, we have significantly scaled and diversified the platform, strengthened its long-term contracted revenue base, and supported its transition toward a more modern and sustainable fleet. Today, Ocean Yield is a larger, stronger and more resilient business, well positioned to continue supporting its customers and the wider maritime sector. We are proud of what has been achieved and believe A.P. Moller Holding is an excellent long-term owner for the company’s next chapter.”

KKR will continue to be a strategic partner to Ocean Yield through their joint investment in CapeOmega Gas Transportation AS.

Completion of the transaction is subject to customary regulatory approvals.

For any further information please contact:

Ocean Yield: Andreas Røde, andreas.rode@oceanyield.no, +47 9822 8562

A.P. Moller Holding: Mika Bildsøe Lassen, Mika.Lassen@apmoller.com, +45 2055 2655

KKR: media@kkr.com
About Ocean Yield
Ocean Yield AS is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings.

About A.P. Moller Holding
A.P. Moller Holding is the parent company of the A.P. Moller Group, headquartered in Copenhagen, Denmark. The A.P. Moller Group operates in more than 130 countries with over 130,000 employees. In 2025, the Group generated a revenue of USD 61 billion with consolidated asset value of USD 121 billion. For further information: www.apmoller.com

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

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CVC DIF agrees sale of Klara Renewables to Actis

CVC|DIF
  • Klara Renewables is a portfolio of six operational onshore wind farms in Poland with a combined installed capacity of 171 MW, generating approximately 500 GWh of clean energy each year
  • CVC DIF acquired all six projects at ready-to-build stage in 2020 and 2021 and managed them successfully through procurement, financing and construction into operation
  • The portfolio benefits from 15-year contracts for difference with the Polish government, and has delivered approximately 99% technical availability
  • This exit underscores CVC DIF’s clear focus on returning capital to investors, supported by the expertise of its dedicated Divestments team

CVC DIF, the infrastructure strategy of leading global private markets manager CVC, is pleased to announce that DIF Infrastructure VI (“DIF VI”) has signed an agreement to divest Klara Renewables, a portfolio of six operational onshore wind farms in Poland, to Actis, a leading global investor in sustainable infrastructure.

Klara Renewables comprises six operational onshore wind farms, with a combined installed capacity of 171 MW generating approximately 500 GWh of clean energy each year. Revenues are supported by 15-year contracts for difference with the Polish government, securing fixed prices for a significant portion of expected annual generation.

CVC DIF, through its DIF VI fund, acquired all six projects at ready-to-build stage in 2020 and 2021 and successfully managed them through procurement, financing and construction into full operation. Under CVC DIF’s ownership, the portfolio has delivered approximately 99% average technical availability, underpinned by commercially proven Vestas turbine technology, long-term operational support arrangements and a dedicated local management team. The divestment represents a successful full-cycle outcome for DIF VI, materialising value created through CVC DIF’s active asset management while supporting the continued build-out of renewable generation in Poland.

Andrew Freeman, Partner and Head of Divestments at CVC DIF, commented: “We are delighted to announce the divestment of Klara Renewables, a high-quality portfolio that we have taken from ready-to-build to full operation. This transaction is a strong example of the value our hands-on asset management approach can create, delivering attractive returns for our investors while advancing the energy transition in Central and Eastern Europe.”

The sale of Klara Renewables continues CVC DIF’s programme of disciplined divestments to return capital to investors and deliver strong returns, supported by the combined expertise of its Investment and dedicated Divestments teams.

CVC DIF was advised on the transaction by PwC (financial) and Dentons (legal).

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CapMan Growth exits its stake in marketing services company Aste

Capman

CapMan Growth exits its stake in marketing services company Aste

CapMan Growth Equity Fund 2017 has signed an agreement to divest its ownership in Aste Holding Oy. The company will be acquired by Eniro Treasury AB, a subsidiary of the Swedish listed company Eniro Group AB. With the transaction, CapMan Growth concludes a successful investment during which Aste has renewed its business from print-based media into a broad-based provider of marketing and communications services. The exit marks the ninth for CapMan Growth Equity Fund 2017 and the eleventh for CapMan Growth.

Aste is a marketing and media partner that combines creative design, multichannel production and technology solutions into a seamless offering across channels. The company’s largest customer groups include media companies, retailers, telecom operators, as well as organisations and associations. Aste’s business model is based on long-term and recurring customer relationships, where the company works as an integrated part of its customers’ processes. The company employs around 140 professionals, and its revenue in 2025 was approximately EUR 12.3 million.

CapMan Growth became a minority owner in Aste in 2018. The investment was made to support the company’s development from a print media operator into a provider of digital media services at a time when the print media market was contracting and demand for digital services was increasing. During CapMan Growth’s ownership, Aste has managed to maintain its profitability and revenue level in a challenging market environment where many competitors have faced declining revenue. The company’s numerous multi-year partnerships also reflect high customer satisfaction.

Aste returned to a growth path in 2025 and strengthened its position by signing agreements with significant customers. Against this backdrop, the company was considered ready for its next phase of development with the support of a new owner.

“Aste is a great example of a company that has systematically renewed its business and remained profitable even in a challenging market. The team has done excellent work, and during our ownership Aste has developed into a strong and versatile marketing partner,” says Antti Kummu, Managing Partner at CapMan Growth. “We believe that, with its new owner, Aste is well positioned to continue its growth, and we thank the company’s management and personnel for the good collaboration.”

Aki Nykänen serves as CEO of Aste Holding Oy.

“The collaboration with CapMan Growth has supported the development of our company and the execution of our strategy over several years. We have built a strong and profitable business, and becoming part of Eniro opens up new opportunities for Aste to continue its growth,” says Nykänen.

Eniro Group AB, the buyer of the company, is a Nordic company listed on Nasdaq Stockholm. The shares in Aste Holding Oy will be transferred to its subsidiary Eniro Treasury AB.

For more information:

Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About Aste

Aste is a trusted partner in marketing and media, combining creative design, multichannel production and technological solutions into a seamless service across channels. The company’s customers include media companies, retailers, telecom operators, as well as organisations and associations. Aste employs around 140 professionals and generated revenue of approximately EUR 12.3 million in 2025.

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Ardian Semiconductor invests in VSORA, an innovative AI inference accelerator fabless company

Ardian

Ardian, a global private investment firm, today announces that Ardian Semiconductor has completed a minority investment in VSORA, a France‑based semiconductor fabless company designing next‑generation AI inference accelerators for data center applications. This transaction represents Ardian Semiconductor’s 4th investment and further expands its exposure across the AI & semiconductor value chain, following the acquisitions of IBS, Synergie Cad, and Centrotherm.

Through its investment, Ardian Semiconductor will support VSORA in accelerating its go‑to‑market strategy to strengthen the company’s recognition across the value chain and reinforce VSORA’s access to senior semiconductor industry expertise.

Founded in 2015 and headquartered in France, VSORA is a fabless chip design company focused on solving the “memory wall” challenge in accelerators used for AI inference workloads. The company has developed a highly differentiated architecture optimized for AI inference, delivering significant improvements in total cost of ownership, latency, and power efficiency. VSORA is the most advanced European player addressing a large and fast-growing market opportunity for AI accelerators optimized for inference applications having secured its position in the most advanced semiconductor supply chains.

VSORA is also a member of the AION consortium, which is led by Ardian, Artefact, Bull, Capgemini, EDF, the iliad Group, Orange and Scaleway, and aims to launch an ambitious bid under the European Union’s AI Gigafactories initiative.

Ardian invested alongside Management, existing shareholders, and new strategic and financial investors.

Ardian Semiconductor, a pioneering private equity investment platform dedicated to the semiconductor industry, was formed by Ardian through an exclusive strategic partnership with Silian Partners, a team of highly successful senior executives from the semiconductor industry totaling more than 140 years of experience, contributing unique industry relationships, strategic vision, and operational focus. Ardian and Silian Partners work as one team to bring innovative and flexible capital solutions, as well as strategic and operational capabilities, to transform strong technology companies into global leaders in their market segments. Ardian Semiconductor is uniquely positioned to seize opportunities in the semiconductor industry, a critical enabler of the digital transformation, AI revolution and green transition of the global economy.

“Ardian Semiconductor’s investment validates our strategy and gives us the means to accelerate the deployment of Jotunn8 — in pursuit of one clear ambition: to make VSORA a global leader in AI inference.” Khaled Maleej, Co-Founder & CEO, VSORA

“We are proud to invest in VSORA, which strongly aligns with our mission to support European semiconductor companies developing breakthrough technologies in high‑growth segments. VSORA has the potential to become a key player in AI inference for datacenters, and we are committed to bringing the strategic, operational and financial resources required to support its ambition.” Lise Fauconnier, Co-Head of Ardian Semiconductor and Senior Managing Director, Ardian

“We are highly impressed by VSORA’s breakthrough architecture, the exceptional expertise of its technical team, and its proven ability to execute against a complex and ambitious product roadmap. As demand for high-performance, energy-efficient AI inference solutions continues to accelerate, VSORA is uniquely positioned to address a critical market need. We look forward to supporting the management team as the company enters its next phase of growth, commercial expansion, and innovation.” Christophe Duverne, Co-Founder & Partner, Silian Partners

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

ABOUT VSORA

VSORA is a French semiconductor company developing AI inference infrastructure designed to make AI deployment economically viable.
Its inference processor, Jotunn8, is purpose-built to overcome the memory wall, one of the main barriers to efficient AI inference, enabling operators to run AI with significantly lower infrastructure costs and energy consumption.
Following a successful tape-out in 2025, Jotunn8 is entering manufacturing. Designed for datacenter-scale inference workloads, it delivers the performance, efficiency, and economics required to scale AI in the real world.
Headquartered in France, VSORA is backed by the European Innovation Council (EIC) and works with leading industry partners, including TSMC and Global Unichip Corp (GUC), to bring next-generation AI processors from architecture to silicon.

www.vsora.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

VSORA

Iman LMEHDI

iman.lmehdi@vsora.com 

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SK and KKR Launch Korea’s Largest Renewable Energy Platform

KKR

New renewable energy platform with ~1.7GW of capacity in operation – and a pipeline that brings total capacity to 10GW – to meet Korea’s surging clean-power demand from AI data centers and semiconductor manufacturing

SEOUL, South Korea–(BUSINESS WIRE)– SK Inc. (“SK”) and KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR and SK will launch Korea’s largest renewable energy platform valued at KRW 2 trillion (~$1.3 billion). Through this newly established platform (“Platform”), SK and KKR will bring together renewable energy assets previously held by SK affiliates spanning solar, onshore and offshore wind, and fuel cells into a single, integrated platform, tapping into each company’s respective operational experience and renewables investment expertise.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260625373798/en/

The launch of the Platform marks the latest transaction between KKR and SK, deepening a longstanding relationship built across multiple collaborations. It will help Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs. KKR will have management control of the platform in its initial phase, with SK participating as an equity investor and retaining the flexibility to pursue control rights through future discussions.

By bringing together renewable businesses and assets from SK Innovation, SK ecoplant, and SK eternix, the Platform integrates the entire value chain, from development and construction through to operation and maintenance, enhancing economies of scale and operational efficiency. The Platform will manage a portfolio covering all areas of renewable energy generation – except hydrogen – including solar, offshore and onshore wind, and fuel cells.

The Platform will be Korea’s largest renewable energy business, with approximately 1.7GW of capacity currently in operation and a development pipeline that will bring the total capacity to 10GW, which is capable of simultaneously and continuously powering 100 large-scale, 100MW-class data centers. At this scale, the Platform is well positioned to become a reliable, large-scale source of clean power for Korea’s most demanding industrial users, from AI data centers to global semiconductor production lines, and more.

Keith Kim, Partner at KKR, commented, “We are delighted to work alongside SK, a strategic partner with deep local operational capability. Korea is one of Asia’s most attractive renewable energy markets, underpinned by strong corporate demand for clean power from the semiconductor, data center, and manufacturing sectors. Together, we are establishing a leading, scaled renewable energy platform that can supply reliable clean power to Korea’s most demanding industrial users.”

SK is integrating these renewable energy businesses as part of a proactive portfolio rebalancing aimed at strengthening their sustainability and competitiveness. By combining the capital strength of a global fund with SK’s execution capability, SK aims to respond to surging clean energy demand and build a sustainable growth model over the long term.

KKR is making this investment primarily from its Asia Pacific infrastructure strategy. KKR is one of the most active infrastructure investors globally, with over $100 billion in infrastructure assets under management and more than $31 billion invested into energy transition and renewables infrastructure since 2011. Across Asia Pacific, KKR has invested behind the region’s energy transition through platforms such as Serentica Renewables, a clean-energy platform delivering power to large-scale industrial users in India; CleanPeak Energy, a distributed-energy platform in Australia; and Zenith Energy, an off-grid energy solution platform in Australia.

SK plans to use the launch of the Platform as an opportunity to strengthen the foundation and support the growth of its renewable energy business, while continuing to restructure its portfolio in a direction that enhances capital efficiency and business competitiveness.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About SK Inc.
SK Inc. is the holding company of SK Group, with approximately 150 subsidiaries including SK Hynix, SK Innovation, SK Telecom, SK Square, SKC, SK Ecoplant, and SK Networks. SK Inc. leads value-up initiatives such as maximizing profitability, optimizing investment assets, and strengthening cash flow management to reinforce the fundamental competitiveness of its subsidiaries. In addition, SK Inc. is actively reshaping its portfolio to ensure optimal business alignment and maximize synergies across the group. Through ESG management, which is SK’s distinctive strength, SK Inc. is taking the lead in pursuing social value and in line with the entrepreneurial spirit and corporate role that society demands, SK Inc. continues to drive sustainable growth and create stakeholder value through relentless challenge and innovation, even amid a rapidly changing global business environment.

Media Contacts

For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

James Jarman
+65 8870 6452
James.Jarman@kkr.com

For SK Inc.:
Dong Hoon Kim
dhkim3412@sk.com

Jae Seok Heo
js.heo@sk.com

Source: KKR and SK Inc.

 

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KKR to Acquire EDF power solutions’ North American Operations for $4.2 Billion

KKR

Acquisition of Leading Provider of Low-Carbon Energy Solutions Represents KKR’s Largest Individual Investment in the Renewables Sector

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has agreed to acquire the operations and assets of EDF power solutions in the United States (EDF power solutions Inc.) and Canada (EDF power solutions Canada Inc.) from EDF group, one of the world’s largest power producers. This transaction values the equity interest in EDF power solutions Inc. and EDF power solutions Canada Inc. at approximately $4.2 billion, with potential additional payments of up to $0.39 billion. Collectively, these businesses represent EDF power solutions’ North American renewable operations.

EDF power solutions North America is among the top ten owners of renewable energy capacity in the United States, with a nearly 40-year track record of delivering clean energy solutions across the U.S. and Canada. The company owns and operates a diversified portfolio of solar, wind, and battery storage assets across multiple geographies and manages an integrated platform spanning project development, construction, and long-term operations and maintenance (O&M) and asset management. EDF power solutions North America serves a broad base of utilities, corporations, and institutional customers.

Under KKR’s ownership, EDF power solutions North America will have the resources and strategic support to expand its asset base, enhance operational performance, and accelerate its development pipeline.

“With power demand anticipated to increase in the United States due to the rapid expansion of data centers, manufacturing reshoring, and broader electrification, KKR’s investment in EDF power solutions North America supports the critical need for affordable power,” said Cecilio Velasco, Managing Director, KKR. “EDF power solutions North America’s scale, operational track record, and integrated capabilities position it to meet that demand, particularly through its diversified portfolio and project pipeline. We look forward to supporting the platform’s continued growth and ultimately the United States’ broader energy security and affordability goals.”

KKR brings deep expertise and a proven track record investing in renewables, having deployed more than $26 billion globally across renewables and energy transition investments to date. KKR is funding this transaction from its global infrastructure strategy. The transaction is subject to customary closing conditions and regulatory approvals.

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:

KKR
Liidia Liuksila
media@kkr.com

Source: KKR

 

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The Reggiani Family chooses CVC to accelerate Clevertech’s global expansion

CVC Capital Partners

The Reggiani Family and CVC Capital Partners (“CVC”), a leading international private equity investor, announce that they have agreed to make a strategic investment in Clevertech, an Italian group and global leader in industrial automation solutions. The transaction will support the company’s next phase of international growth and aim to further strengthen its market leadership.

Founded in 1987 and headquartered in Cadelbosco di Sopra (Reggio Emilia), at the heart of Italy’s “Packaging Valley”, Clevertech Group is a leading global partner in the design and manufacturing of advanced industrial automated packaging systems. With revenues of €236 million and EBITDA of more than €70 million in 2025, and a team of over 450 specialised professionals, the Group operates internationally, bringing Italian engineering excellence to some of the world’s most advanced markets.

The transaction will see CVC acquire 100% of the share capital of Clevertech S.p.A. from REFA S.r.l. (“REFA”), the Reggiani Family holding, while REFA will reinvest alongside CVC as a minority shareholder, ensuring full continuity in the management of the business and execution of the Group’s strategy.

Engineer Giuseppe Reggiani, founder of the Group, will remain Chairman and Chief Executive Officer. Umberto Reggiani will continue in his role as Chief Sales Director, Enrico Reggiani as Chief Financial Director, and Simone Cervi as Chief Technology Officer. The continued involvement of the current management team will be an important factor in supporting the Group’s next phase of development alongside its employees, customers and business partners.

The agreement with CVC will enable Clevertech to accelerate its growth, support its international expansion and make investments in innovation, all aimed at strengthening its leadership position in its target markets.

Completion of the transaction is expected by the end of 2026, subject to the receipt of customary regulatory approvals. CVC will invest in Clevertech through CVC Capital Partners IX.

Giuseppe Reggiani, founder and Chairman of Clevertech S.p.A., commented: “Our family believes it is essential to provide our management team, employees and long-standing partners with the resources needed to consolidate and accelerate Clevertech Group’s growth. In CVC, we have found the ideal partner to help us address the new challenges of the market. My family’s commitment continues with even greater enthusiasm and additional resources to foster the drive for innovation that has always distinguished us.”

Quotes

We are proud to invest in Clevertech Group, a global leader in industrial automation, and are excited to support the Reggiani family in its investment plans and international development.

Giorgio De PalmaPartner at CVC

Giorgio De Palma, Partner at CVC, commented: “We are proud to invest in Clevertech Group, a global leader in industrial automation, and are excited to support the Reggiani family in its investment plans and international development. Our goal is to help the Group continue delivering increasingly innovative and technologically advanced solutions to its customers, which are leading companies in their respective industries.”

REFA was advised by J.P. Morgan (Lead M&A Advisor), Baldi Finance (Financial and ESG) and Baldi Prati & Partners (Legal and Tax).

CVC was advised by UBS (M&A), Bain & Company (Commercial), EY (Financial and Tax), Cleary Gottlieb (Legal), FRM (Tax), Latham & Watkins (Antitrust), and Dabster and dss (ESG).

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CVC Capital Partners agrees to acquire Irca from Advent

CVC Capital Partners

CVC Capital Partners (“CVC”) and Advent today announced that CVC Capital Partners IX (“Fund IX”), has entered into an agreement to acquire Irca, a global B2B manufacturer of ingredient solutions for the food manufacturing, foodservice and artisanal channels, from Advent.

Irca produces value-added ingredients and semi-finished products for the pastry, bakery, chocolate and ice cream markets. The company operates a global manufacturing and distribution platform spanning 19 facilities and more than 7,000 products, serving customers in over 100 countries. Irca serves a broad customer base across artisanal, foodservice and food manufacturing channels, ranging from local bakeries and gelato shops to international foodservice operators and multinational food manufacturers.

Since Advent’s investment, IRCA has transformed into a global ingredients leader, increasing revenue from €370 million in 2021 to €1.5 billion today. The company is widely recognized by customers for its comprehensive product portfolio, strong innovation capabilities, and deeply customer-centric culture.

Following completion of the transaction, CVC will work closely with Irca’s management team to support the company’s next phase of growth, focusing on operational excellence across manufacturing and supply chain, selected add-on acquisitions, and continued international expansion. CVC will also support the acceleration of Irca’s growth ambitions across the US and EMEA, leveraging the expertise and network of its European and US teams.

Massimo Garavaglia, CEO of Irca, said: “Over the past years, Irca has strengthened its international platform and broadened its capabilities and today we are in a great position to continue to expand into new markets and segments. We look forward to working with CVC as we continue to invest in our business and pursue the next phase of growth for the company”

Giampiero Mazza, Managing Partner at CVC, said: “Irca combines a strong market position, a resilient business model and significant opportunities for further international expansion. Working alongside management, we will support the company’s continued development through operational excellence initiatives, selective acquisitions and investment in its global platform.”

Quotes

Irca combines a strong market position, a resilient business model and significant opportunities for further international expansion.

Giampiero MazzaManaging Partner at CVC

Massimiliano Mascolo, Managing Director at CVC, said: “The company has built an impressive business with a strong culture of innovation and customer focus. We are delighted to support them as they continue to execute on the company’s long-term growth ambitions.”

Francesco Casiraghi, Managing Director at Advent, said: “When we invested in Irca four years ago, we saw a strong Italian heritage brand with the potential to become a global ingredient solutions platform. Working closely with the management team, that is exactly what it has become, through targeted acquisitions, investment in manufacturing, and expansion into new markets and channels. We wish the entire Irca team every success in the next chapter.”

The transaction is subject to customary regulatory approvals and is expected to close in Q4 2026.

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Digital Realty Announces Purchase of Blackstone Interest in Three Northern Virginia Data Centers

Blackstone

Increases Ownership in New, High-Quality, Fully-Leased Hyperscale Assets in Top U.S. Market

AUSTIN, Texas and New York — Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, and Blackstone Inc. (NYSE: BX) today announced that Digital Realty has agreed to purchase from Blackstone-affiliated funds managed by Real Estate, Infrastructure and Tactical Opportunities (“Blackstone”) a stake in three fully leased data centers containing 288 megawatts of total IT capacity in Northern Virginia at a gross value of $7.8 billion, reflecting an expected initial stabilized capitalization rate of over 6.5%. Total consideration paid to Blackstone for their blended 64% equity interest in the assets will be $3.5 billion, including $1.2 billion of cash and $2.3 billion in shares of Digital Realty, based on the last reported sale price of the company’s common stock on the New York Stock Exchange on June 29, 2026. The portfolio comprises two data centers in Manassas and one on the Digital Dulles campus in Sterling, each with 96 megawatts of IT capacity, that are 100% leased to three distinct investment grade hyperscale customers. The purchase is expected to be completed on June 30, 2026, and is subject to customary closing conditions.

“We have developed a strong partnership with Blackstone through the successful ongoing development of these assets, and we continue to work together across the remaining data center investments in our joint ventures in Northern Virginia, Paris and Frankfurt,” said Greg Wright, Chief Investment Officer of Digital Realty. “This transaction reflects the next phase of that relationship, allowing us to increase our ownership in a portfolio of fully leased, high quality hyperscale assets that extend our runway for growth and pipeline of product for the continued expansion of our strategic private capital platform.”

Mike Forman, Global Head of Digital Infrastructure for Blackstone Real Estate and Greg Blank, Global Head of Digital Infrastructure for Blackstone Infrastructure, said: “We are thrilled with this transaction and the early success of our joint venture with Digital Realty. The Digital Realty team has been exceptional to work with, and we look forward to our continued partnership. The demand for digital infrastructure is even stronger today than when we established this joint venture in 2023, and we have deep conviction in the opportunity ahead.”

Digital Realty agreed to purchase Blackstone’s 80% interest in two 96 megawatt data centers in Manassas, Virginia and a 50% interest in one 96 megawatt data center in Sterling, Virginia for $7.8 billion, at 100% share, including assumed debt and remaining capex to complete the ongoing development. Two of the data centers are expected to stabilize in the first half of 2027, with the third anticipated to stabilize in the first half of 2028. Through this transaction, Digital Realty will increase its exposure to new capacity in the world’s largest data center market, supported by 15-year leases with a blended average AA- customer credit rating and 3.6% annual rent escalators, that are expected to enhance the Company’s growth and visibility.

“This transaction is expected to be accretive to Core FFO per share in each of 2027 and 2028, as development is completed and rents commence,” said Matt Mercier, Chief Financial Officer of Digital Realty. “We also expect it to be accretive to contractual organic rent growth and portfolio quality, given long term leases with premier hyperscale customers in newly constructed assets, in the largest and most sought-after data center market. We believe that our execution to date and the recently announced strategic transactions, position Digital Realty to extend its growth trajectory.”

About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives customers access to the connected data communities that matter to them through a global footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. To learn more, visit digitalrealty.com or follow us on LinkedIn and X.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

For Additional Information

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 737 281 0101
InvestorRelations@digitalrealty.com

Media Contact
Helen Bleasdale
Digital Realty
+1 737 267 6822
hcbleasdale@digitalrealty.com

Jeffrey Kauth
Blackstone
+1 212 583 5395
jeffrey.kauth@blackstone.com

Paula Chirhart
Blackstone
+1 646 583 6684
paula.chirhart@blackstone.com

Safe Harbor Statement
This press release contains forward-looking statements based on current expectations, forecasts, and assumptions that involve risks and uncertainties which may cause actual results to differ materially from those described. These include statements related to the Blackstone acquisition, completion of development and stabilization, expected benefits, and the company’s strategy. For a description of these risks and uncertainties, please refer to the company’s filings with the U.S. Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.

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