Category Archives: News

Nexstim Plc: Shares subscribed for in the directed share issue have been registered

Capricorn

Helsinki, Finland: 18 November 2019 – Nexstim Plc (NXTMH:HEX, NXTMS:STO) announced on 15 November 2019 that an aggregate of 15,687,350 new shares of Nexstim were subscribed for in the directed share issue. Such new shares have today been registered with the Trade Register.

Pursuant to the registration of the shares issued in the directed share issue with the Trade Register, the number of shares in the company is 61,599,912.

The trading of the new shares registered will begin approximately on 19 November 2019 in Nasdaq First North Growth Market Finland and approximately on 20 November 2019 in Nasdaq First North Growth Market Sweden.

More info on Nexstim‘s website.

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AURELIUS closes sale of Scandinavian Cosmetics Group to Accent Equity

Aurelius Capital

Successful transformation into a leading Nordic brand management company

The buyer, Accent Equity, will support Scandinavian Cosmetics in its next growth phase

Munich, November 18, 2019 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) has successfully completed the sale of its subsidiary Scandinavian Cosmetics Group to Accent Equity 2017, a Scandinavian investment fund.

Successful transformation into a leading Nordic brand management company

After the carve-out from the former owner, the Swiss Valora Group, the company was positioned in the market as a unitary group under AURELIUS and developed into a leading brand management company by means of an extensive transformation program. The restructuring engineered by AURELIUS included efficiency enhancement and business development measures, as well as the add-on acquisitions of Solis AS and Alf Sörensen AB, leading to a 25 percent revenue increase since the acquisition. Scandinavian Cosmetics today is the biggest manufacturer-independent luxury and consumer brand management company in Scandinavia.

The buyer Accent Equity will support Scandinavian Cosmetics in its next growth phase

Accent Equity has extensive experience in growing businesses in different industries and sectors and is ideally positioned to support the international growth of Scandinavian Cosmetics Group, both organically and through add-on acquisitions. The company’s continued development will be supported by the highly experienced management team, the strong position in the Scandinavian market and the company’s excellent positioning in all stages of the value chain.

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EQT Credit leads recapitalization of Bartec and becomes largest shareholder

eqt

EQT Credit, through its Credit Opportunities strategy, is pleased to announce that it has led the recapitalization of Bartec (“the Company”), a global market leader in explosion protection. With the transaction, EQT Credit becomes the largest shareholder in the Company.

Founded in Germany in 1975, Bartec is one of the market leading global players in explosion protection. With a broad product portfolio and a strong long-term track record of industry experience, Bartec caters to specific customer requirements worldwide. Its key applications are in the fields of Electrical Safety Systems, Electrical Heating Systems, Technology Systems and Enterprise Mobility.

EQT Credit and other shareholders are investing EUR 80 million of equity in the Company, significantly strengthening its balance sheet, and as part of the transaction, Bartec’s debt is reduced by approximately EUR 280 million.

EQT will support Bartec and its management team on its value creation initiatives centered around operational excellence, customer focus and best in class products.

Martin Schefter, CEO of Bartec, commented: “This is an exciting day for Bartec. With a strong portfolio of world leading products, excellent customer relationships and renewed financial flexibility we are well positioned to capture the significant opportunities we see ahead of us.”

Cyril Tergiman, Partner at EQT Partners and Investment Advisor to EQT Credit, added, “EQT Credit believes there is a real potential for growth with Bartec and looks forward to supporting its management in building the Company’s position as an industry leader.”

Dominik Mattmann, Managing Director at EQT Partners and Investment Advisor to EQT Credit, concluded: “As Bartec’s largest shareholder, EQT Credit will work with other shareholders to put in place an experienced and high-caliber Board of Directors of senior industrialists to support management in their efforts to drive value in the coming years.”

Contact
Cyril Tergiman, Partner at EQT Partners and Investment Advisor to EQT Credit fund, +44 20 7430 5510
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About Bartec
Bartec is a leading manufacturer of explosion proof equipment preventing explosions wherever hazardous substances could occur. Bartec’s product portfolio ranges from complex measurement and analysis technology via innovative heating technology solutions to explosion-proof components and systems for automation, control and communication. Bartec’s customers (comprising a balanced mix of OEMs, EPCs and end customers) operate in a wide range of industries including oil & gas, chemical, petrochemical, mining and pharmaceutical. Bartec operates globally and is headquartered in Bad Mergentheim, Germany.

More info: www.bartec.de/en

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Ferring and Blackstone Life Sciences Invest Over $570 Million USD in Novel Gene Therapy for Bladder Cancer Patients

Blackstone

  • Ferring launches new company FerGene, with a focus on the global development and US commercialization of nadofaragene firadenovec, for high-grade, Bacillus Calmette-Guérin unresponsive, non-muscle invasive bladder cancer patients
  • Blackstone Life Sciences will invest $400 million USD and their expertise to accelerate the future development and commercialization of nadofaragene firadenovec, an investigational gene therapy
  • The FDA has accepted the Biologics License Application (BLA) for filing and granted Priority Review for nadofaragene firadenovec
  • Phase 3 results to be presented at Society of Urologic Oncology 20th Annual Meeting in Washington DC on December 5, 2019

SAINT-PREX, Switzerland & CAMBRIDGE, Mass.–Ferring Pharmaceuticals and Blackstone Life Sciences today announced the joint investment of over $570 million USD in nadofaragene firadenovec (rAd-IFN/Syn3), an investigational novel gene therapy in late stage development for patients with high-grade, Bacillus Calmette-Guérin (BCG) unresponsive, non-muscle invasive bladder cancer (NMIBC).

FerGene, a new gene therapy company and Ferring subsidiary, has been created to potentially commercialize nadofaragene firadenovec in the US and to advance the global clinical development. FerGene’s goal is to bring this promising therapy to a patient population which has seen little improvement in their standard of care over the past twenty years. Blackstone will invest $400 million USD and Ferring will invest up to $170 million USD in FerGene. Ferring will also potentially launch and commercialize nadofaragene firadenovec outside of the US.

“Bringing a novel gene therapy to the market requires dedicated focus and capabilities, and FerGene, a Ferring company, will have the resources and team needed to help us potentially bring nadofaragene firadenovec to patients,” said Frederik Paulsen, Chairman, Ferring Pharmaceuticals. “Through this new joint financing model between Ferring and Blackstone Life Sciences, we aim to ensure more people with high-grade, BGC unresponsive, non-muscle invasive bladder cancer may benefit from this novel gene therapy if approved.”

Nadofaragene firadenovec, currently in late Phase 3 development, has been granted Breakthrough Therapy designation and had its Biologics License Application (BLA) accepted for filing and granted Priority Review by the FDA.

“This innovative partnership with Ferring illustrates the unique value of Blackstone Life Sciences in bringing transformative therapies to market. Our expertise and experience in hands-on clinical development and early commercialization will help further advance this promising therapy for bladder cancer patients in the US and around the world,” said Nick Galakatos, Ph.D., Head of Blackstone Life Sciences.

“Through FerGene, Blackstone and Ferring’s goal is to successfully commercialize and further develop this adenovirally mediated interferon alfa-2b gene therapy, a potential breakthrough treatment for high-grade, BCG unresponsive, non-muscle invasive bladder cancer patients,” said Paris Panayiotopoulos, Blackstone Life Sciences Managing Director.

Phase 3 clinical trial results will be presented at the Society of Urologic Oncology (SUO) 20th Annual Meeting in Washington, DC on December 5, 2019 by Dr. Colin Dinney, Professor and Chairman of the Department of Urology at the University of Texas MD Anderson Cancer Center (MDACC) and a founder and past president of the Society of Urologic Oncology Clinical Trials Consortium (SUO-CTC). Dr Dinney pioneered the development of nadofaragene firadenovec and co-heads the development program alongside Dr. Nigel Parker6 of FKD Therapies Oy (FKD). Upon the potential FDA approval, FerGene will hold the marketing authorization of nadofaragene firadenovec.

FKD is a specialist gene therapy company based in Finland focused on the development and regulatory filing of nadofaragene firadenovec, which has been studied in the Phase 3 trial in 33 centers across the US, in conjunction with the SUO-CTC.

“We are excited to present the Phase 3 data at the upcoming SUO meeting,” said Dr. Stephen A. Boorjian, the Coordinating Investigator for the trial and the Carl Rosen Professor of Urology at Mayo Clinic in Rochester, Minnesota. “This trial expands the search for effective alternatives to radical cystectomy for those patients with high-grade, BCG unresponsive, non-muscle invasive bladder cancer, and offers the potential to meaningfully improve future patient care.”

About nadofaragene firadenovec
Nadofaragene firadenovec(rAd-IFN/Syn3) is an investigational therapy being developed as a treatment for patients with high-grade, BCG unresponsive, NMIBC. It is an adenovirus vector-based gene therapy containing the gene interferon alfa-2b, administered by catheter into the bladder every three months. The virus enters the cells of the bladder wall, where, it breaks down, releasing the active gene to do its work. The internal gene/DNA machinery of the cells ‘picks up’ the gene and translates its DNA sequence, resulting in the cells secreting high quantities of interferon alfa-2b protein, a naturally occurring protein the body uses to fight cancer. This novel gene therapy approach thereby turns the patient’s own bladder wall cells into multiple interferon microfactories, enhancing the body’s natural defenses against the cancer.

About bladder cancer
Bladder cancer is one of the most frequently occurring cancers, with an estimated 430,000 patients diagnosed worldwide each year, making it the ninth most common cancer worldwide.1,2 In the US, bladder cancer is the sixth most common cancer, with an estimated 699,450 people living with bladder cancer and more than 80,000 new cases diagnosed each year in the US alone. 3 In high-grade NMIBC patients, BCG is the standard treatment, and, although effective, over 60% of these tumors eventually re-occur.2,4 Radical cystectomy (complete removal of the bladder and certain reproductive organs) to prevent the cancer spreading to other organs represents the recommended treatment option in this setting, but may be associated with considerable morbidity.5 As such, the BCG unresponsive population is one of high unmet clinical need, which has been recognized by the FDA Guidance for Industry, February 2018.7

About Blackstone Life Sciences
Blackstone Life Sciences is a private investment platform with capabilities to invest across the life-cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines that improve patients’ lives.

About Ferring Pharmaceuticals
Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives. Headquartered in Saint-Prex, Switzerland, Ferring is a leader in reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology. Founded in 1950, Ferring now employs approximately 6,500 people worldwide, has its own operating subsidiaries in nearly 60 countries and markets its products in 110 countries.

Learn more at www.ferring.com, or connect with us on Twitter, Facebook, Instagram, LinkedIn and YouTube.

About FKD Therapies Oy
FKD Therapies Oy is a specialist gene therapy company based in Kuopio, Finland originally conceived by scientific and medical founders, Dr Nigel R Parker and Professor Seppo Yla-Herttuala,6 for the specific purpose of undertaking the development of adenovirus mediated interferon alfa-2b. FKD has led the overall development of nadofaragene firadenovec through manufacturing at FinVector Oy, late stage clinical trials and the current BLA filing. FinVector Oy and FKD Oy are part of the Trizell Group.

About the SUO-CTC
The Society of Urologic Oncology (SUO) developed a clinical trials network in 2008. Created, owned, and operated by its members, the Society of Urological Oncology Clinical Trials Consortium (SUO-CTC) is a clinical research investigator network of over 340 members from more than 180 clinical sites in the US and Canada. This national alliance of leading academic and community-based uro-oncologists is committed to furthering urology research. The SUO-CTC is a registered 501c3 not-for-profit corporation and maintains a cooperative relationship with the Society of Urologic Oncology. SUO-CTC pursues clinical trials, in concert with sponsors, to investigate therapeutic interventions which address urological cancers including, but not restricted to bladder cancer, prostate cancer and renal cancer. Together with industry, the SUO-CTC offers enhanced research options for ultimately delivering better quality of life to our patients.

# # #

References

1. Antoni, S et al., Bladder Cancer Incidence and Mortality: A Global Overview and Recent Trends. Eur Urol. 2017;17(1):96–108.

2. Maruf, M et al., Non invasive bladder cancer: a primer on immunotherapy. Cancer Biol Med. 2016;13(2):194-205.

3. National Cancer Institute. Cancer Stat Facts: Bladder Cancer. Available at: https://seer.cancer.gov/statfacts/html/urinb.html. Last accessed: November 2019.

4. Derré, L et al., Intravesical Bacillus Calmette Guerin Combined with a Cancer Vaccine Increases Local T-Cell Responses in Non-muscle-Invasive Bladder Cancer Patients. Clin Cancer Res. 2017;23(3):717-725.

5. Cookson, M et al.,Use of intravesical valrubicin in clinical practice for treatment of nonmuscle-invasive bladder cancer, including carcinoma in situ of the bladder. Therapeutic Advances in Urology. 2014, Vol. 5(5):181-191.

6. AIV Institute for Molecular Sciences, Kuopio, Finland.

7. Food and Drug Administration. BCG-Unresponsive Nonmuscle Invasive Bladder Cancer: Developing Drugs and Biologics for Treatment Guidance for Industry. Available at: https://www.fda.gov/media/101468/download. Last accessed: November 2019.

Contact

Jennifer Friedman
Senior Vice President – Global Public Affairs, Blackstone
+1 (212) 583-5122
Jennifer.Friedman@blackstone.com

Bhavin Vaid
Head of Corporate Communications and Public Affairs, Ferring Pharmaceuticals
+41 58 301 0952 (direct)
+41 79 191 0632 (mobile)
bhavin.vaid@ferring.com

Categories: News

Blackstone Real Estate Income Trust Completes Acquisition of Bellagio Real Estate from MGM Resorts International for $4.25 Billion in Sale-Leaseback Transaction

Blackstone

November 18, 2019 – New York and Las Vegas – Blackstone Real Estate Income Trust (“BREIT”) and MGM Resorts International (“MGM Resorts”) (NYSE: MGM) today announced the closing of the previously announced 95%/5% BREIT-led joint venture with MGM Resorts to acquire the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction.

As part of the transaction, MGM Resorts has leased the property from the joint venture and continues to manage, operate and be responsible for all aspects of the property on a day-to-day basis.

The transaction was announced on October 15, 2019.

Advisors
Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts and PJT Partners and J.P. Morgan served as financial advisors to MGM Resorts. Citigroup Global Markets Inc. and Morgan Stanley & Co served as financial advisors to BREIT. Simpson Thacher & Bartlett LLP served as legal counsel to BREIT.

Morgan Stanley & Co, J.P. Morgan, and Citigroup Global Markets Inc. served as BREIT’s financing advisors.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $157 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 30 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company in 2018 opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The 81,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

Forward-Looking Statements
Certain information contained in this press release constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology or the negatives thereof. These may include BREIT’s or MGM Resorts’ financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statements regarding future performance. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BREIT and MGM Resorts believe such factors include the continuation of operations at the Bellagio under the new arrangement. BREIT and MGM Resorts believe these factors also include but are not limited to those described under the section entitled “Risk Factors” in their respective prospectuses and annual reports for the most recent fiscal year, and any such updated factors included in their periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release (or BREIT’s or MGM Resorts’ prospectuses and other filings). Except as otherwise required by federal securities laws, neither BREIT nor MGM Resorts undertakes an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contacts

Blackstone
Jennifer Friedman
Jennifer.Friedman@blackstone.com
(212) 583-5122

MGM Resorts
Brian Ahern
media@mgmresorts.com

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Rabo Frontier Ventures partners with Northzone’s Fund IX

Rabo Frontier Ventures

Rabo Frontier Ventures (“RFV”) has committed to Northzone’s brand new venture fund (Northzone IX). Northzone Ventures (“Northzone” or the “Firm”) is a leading European technology investment firm and has been investing in technology companies for 23 years. Northzone has a pan-European focus and operates from its bases in the UK and the Nordics.

Northzone’s investment team is widely regarded as being highly experienced with privileged access to some of the world’s best entrepreneurs. Northzone has a history of strong performance with many successful deals and exits such as Spotify, iZettle and Avito.

Northzone

Northzone is an early stage venture capital fund, founded in 1996. It is one of the most experienced venture capital funds in Europe, and operates from its offices in Stockholm, London and Oslo. The firm also has a New York presence, and makes investments in select verticals in the US.

Northzone has raised 9 funds to date, and including the latest fund, the firm has raised a total of €1.5 billion. Over the past 2 decades, Northzone has invested in over 150 companies, including seminal names in European tech such as Spotify, iZettle, Klarna, Avito, Trustpilot, lastminute.com, Stepstone, Zopa and others.

Northzone’s focus is on disruptive technology companies and the fund makes investments across Europe and the US East Coast. The latest fund, Norhthzone IX, will back strong-minded entrepreneurs building category leading businesses in both the consumer and enterprise segments. The fund will invest at Series A and B stage, with selective seed bets also a part of the strategy.

“Northzone is a great partner and our commitment to their fund will give a good first indication of the fund of funds (FoF) strategy that we follow. This year we started with our early stage FoF strategy in order to generate relevant deal flow for our direct fund and to institutionalise existing relations with top performing VC funds. Our commitment in Northzone’s brand new venture fund marks the start of the execution of this strategy. Part of our strategy is also to leverage knowledge of Rabobank and to make it accessible for Northzone and its portfolio companies. Herewith creating a platform in order to add value to our VC partners and their portfolio companies”

Jeroen van Doornik, Partner RFV

Rabo Frontier Ventures

RFV is a €150 million investment fund of Rabobank, focusing globally on innovative Fintech and Agtech companies. RFV aims to invest directly in the early growth stage (series B) of companies that are disrupting or influencing the current business of Rabobank and invest indirect in leading general tech funds.

 

 

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Andera Partners sponsors the management-led buyout of Auxiga Group from IK Investment Partners to foster international expansion

ik-investment-partners

Alongside key executives, Winch Capital 4, an investment fund managed by Andera Partners, has reached an agreement to take over Auxiga Group from the IK Small Cap I Fund, advised by IK Investment Partners. The transaction will allow the management team to increase its ownership share. Auxiga Group is the undisputed leader of inventory pledge and floor check services in France and in Belgium.

Auxiga Group was founded in Belgium in 1919 and has been active in France since 1975. The group provides inventory pledge services to financial institutions and corporate borrowers wishing to leverage part of their inventory to gain access to a wider array of financing solutions. The group is the undisputed market leader in France and Belgium and operates through three subsidiaries: Auxiga, Sofigarant and Eurogage, the latter of which was acquired in January 2019. Auxiga Group recently began its international expansion by launching a subsidiary in the Netherlands where it aims to export its asset inspection and floor check expertise to support its international clients, typically captive automotive manufacturer banks.

Auxiga Group was acquired by the IK Small Cap I Fund in 2015. With IK’s active support, the group successfully completed the consolidation of the French market and initiated its international expansion. This next step with Andera Partners marks the beginning of a new expansion phase for the Group with the aim of:

  • Further spreading the use of inventory pledge solutions in France;
  • Widening the group’s expertise to include complementary services for financial institutions;
  • Supporting the Auxiga’s expansion abroad with the aim of building an international player capable of handling major projects on a European level;
  • Achieving this international expansion through targeted build-up acquisitions, some of which have already been identified.

The management team, led by CEO Arben Bora, has taken this opportunity to increase its ownership of the company.

A unitranche debt facility will be provided by Barings to complete the financing of the acquisition.

Closing is expected by the end of 2019.

Auxiga Group is the 7th investment of Winch Capital 4, Andera Partners’ investment fund dedicated to growing mid-market SMEs.

Pierre Gallix and Arnaud Bosc, Partners at IK Investment Partners and Advisors to the IK Small Cap I Fund: “We are proud of the journey accomplished with the management team. Thanks to the Eurogage acquisition, Auxiga Group is now the clear leader in inventory pledge in France and is ready to embark upon the next chapter of growth. We wish Andera and the management team all the best to realise their ambitions.”

Arben Bora, CEO of Auxiga Group: “We would like to take this opportunity to thank IK for all of their support the past years which has enabled Auxiga to strengthen its market position. It is with great pleasure that we take this step forward as we welcome Andera Partners at our side. We are now stepping into a new expansion phase which should lead us to new frontiers, both by building a presence in new geographies and by broadening our expertise.”

François-Xavier Mauron and Laurent Tourtois, Partners at Andera Partners: “We are delighted to back Arben Bora and his team as the company enters into a new phase of ambitious growth. Auxiga Group possesses all the qualities we look for in an investment opportunity: an ambitious and outstanding management team willing to engage in an international change of scale project, a company holding a rare expertise strongly valued by its clients, and a resilient underlying market yet with considerable growth potential.”

PARTICIPANTS
Andera Partners (Winch Capital): François-Xavier Mauron, Laurent Tourtois, Arthur Milliard, Etienne Rossignol
Commercial due-diligence: Accenture Strategy (Sébastien Amichi, Ravi-François Thillier, Romain Le Guen, Antoine Ringeard)
Financial due-diligence: Oderis Consulting (Aurélien Vion, Lan Chau, Clément Tastet)
Legal Advisor and legal & fiscal due-diligence: VOLT Associés (Emmanuel Vergnaud, Stéphane Letranchant, François-Joseph Brix, Lucille Pothet, Guilhem de Courson)
Labour due-diligence: Céline Donat & Associés (Céline Donat)
M&A Advisor: Natixis Partners (Jean-Baptiste Marchand, Benjamin Giner, Louis-Martin Dufay, François Bracchi)

Barings: Alice Foucault, Benjamin Gillet, Pauline Lloret

Auxiga Group: Arben Bora, Sébastien Vincent, Frédéric Trastour
Legal Advisor: STC Partners (Delphine Bariani)

IK Investment Partners: Pierre Gallix, Arnaud Bosc, Caroline Le Hen
M&A Advisor: Ekapartners (Eric Toulemonde, Marc-Aurèle Taverna, Paul Caillaud)
Legal Advisor: Agilys Avocats (Baptiste Bellone, Chloé Journel, Carole Thain-Navarro)
Financial Vendor Assistance: Alvarez & Marsal (Frédéric Steiner, Camille Peyre, Bilal Baou)

PRESS RELATIONS

ANDERA PARTNERS
NICOLAS DELSERT, Head of Communications
+33 1 85 73 52 88 / n.delsert@anderapartners.com

JEAN-PHILIPPE MOCCI
Ulysse Communication
+33 1 81 70 96 33 / jpmocci@ulysse-communication.com

BRUNO ARABIAN
Ulysse Communication
+33 1 81 70 96 30 / barabian@ulysse-communication.com

IK INVESTMENT PARTNERS
PIERRE GALLIX, PARTNER
ARNAUD BOSC, PARTNER
+33 1 44 43 06 60

MIKAELA MUREKIAN, DIRECTOR COMMUNICATIONS & ESG
+44 77 87 573 566 / mikaela.murekian@ikinvest.com

ABOUT ANDERA PARTNERS
Created in 2001 as part of the Edmond de Rothschild Group, Andera Partners is a leader in investments in unlisted companies in France and internationally. It manages nearly €2.3 billion in investments in life sciences (BioDiscovery), growth and buyout capital (Winch Capital in mid-caps and Cabestan Capital in small-caps) and sponsorless mezzanine debt (ActoMezz).

Andera Partners is 100% owned by its teams and places service to entrepreneurs and respect for partners at the heart of its concerns. The company is also a signatory to the United Nations Principles for Responsible Investment (UNPRI), which encourage the adoption of best environmental, social and governance (ESG) practices.

Based in Paris, Andera Partners is an AMF-approved asset management company that employs 67 people, 44 of whom are investment professionals. It is structured as a partnership and managed by a board of 10 partners.

Thanks to the performance of its funds, the diversity of its services and its organisational model, Andera Partners stands apart from other companies in its markets, where it is recognised as a major player. www.anderapartners.com

ABOUT IK INVESTMENT PARTNERS
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Hellman & Friedman purchases Partners Group’s minority equity stake in Action

3I

3i Group plc (“3i”) yesterday announced that it is facilitating a transaction that will provide liquidity to limited partners in EuroFund V,who need to exit as the fund comes to the end of its life,through a sale of their interest in Action to new 3i-managed entities backed by existing investors in EuroFund V, new investors and by 3i.

This transaction values Action at an enterprise value of €10.25 billion and is expected to close in January 2020.Since that announcement,Partners Group,on behalf of its clients,has announced that it has agreed to sell its minority equity stak ein Action to Hellman & Friedman, in a separate transactionat the same valuation.

-Ends-

For further information, contact:3i Group plc Silvia Santoro

Investor enquiries Kathryn van der Kroft

Media enquiries

Tel: +44 20 7975 3258 Email: silvia.santoro@3i.com Tel: +44 20 7975 3021 Email: kathryn.vanderkroft@3i.com

Notes to editors:

About 3i Group3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com.

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Earlier success fuels oversubscription: Lifeline Ventures raises EUR 130 million for a new fund

Tesi

Investments in funds – 15.11.2019

Venture capital firm Lifeline Ventures has raised EUR 130 million for a new fund, an amount that sets a new record for fundraising in Finland. The company invests in Finnish technology companies in all their development stages: from first-round investments in the angel or seed stage through to large-scale, follow-on investments in later-stage financing rounds. Lifeline Ventures also invests in funds; including insurance funds Ilmarinen, Varma and Elo, state-owned investment company Tesi and FoF Growth III fund, Nordea Life Assurance and Taaleri Kasvurahastot.

The Lifeline Ventures IV fund will invest in some 40 companies over the next five years. An angel or seed investment from the fund will range from EUR 200,000 to EUR 2 million in size. Lifeline is well-known for its connection with early-stage technology and software companies. The company’s most successful earlier investments include those in Supercell, Applifier and Nonstop Games, while the company’s current investments include those in Wolt, Oura, Sulapac and ICEYE. Recently, Lifeline has focused more on science-based companies operating in sectors such as optics, virtual reality and materials technology.

“In 2012, in its first year of operation, our fund proved to be exceptionally successful. In a global comparison of our peers for that year, we easily ranked in the top quartile in terms of gains,” says Lifeline’s partner Samuli Leppänen.

Last year Finnish startups raised a record EUR 480 million in total. Lifeline estimates that its portfolio companies account for some 30% of this capital.

A number of investments in Finland’s venture capital market are starting to mature and to launch financing rounds that are tens of millions of euros in size. Financing rounds of this size mostly require international investors, and almost all such rounds consist of numerous investors.

“We want to be the first investor in a startup. Our most successful investments have mainly been those in which we were an angel investor. This new, much larger, fund allows us to extend our horizon in portfolio companies’ development. The landscape has changed drastically: the level of startups has risen sharply, and the best of early-stage companies are also able to recruit the most skilled talent,” points out Timo Ahopelto, well-known co-founder of Lifeline.

“It’s great to see a fund raised in Finland of a size that enables investing in the best crop of early-stage portfolio companies through their later-stage financing rounds also. The fund is managed by an experienced player with strong international networks. That, in itself, attracts international investors to Finnish companies, especially in larger-scale financing rounds,” says Tesi’s Investment Director Riitta Jääskeläinen.

For further information:

Lifeline Ventures

Timo Ahopelto, timo@lifelineventures.com

Samuli Leppänen, samuli@lifelineventures.com

Team photo: Kai Backman, Timo Ahopelto, Samuli Leppänen, Petteri Koponen and Juha Lindfors.

Lifeline Ventures is a Finland-based, early-stage venture capital firm that invests widely in sectors ranging from biotech to mobile gaming. Lifeline Ventures founded is first fund in 2012. The company’s head office is located in Helsinki, Finland.  So far, Lifeline Ventures has invested in over 70 companies in Finland, including Aiven, Oura, Varjo, Sulapac, Dispelix, Smartly.io, Swappie, Altum Technologies, Solar Foods, Iceye and Wolt. www.lifelineventures.com

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Partners Group to sell stake in Action, Europe’s leading non-food discount retailer, to Hellman & Friedman

Partners Group

 

Baar-Zug, Switzerland; 25 November 2019

Partners Group to exit Covage, a leading open-access fiber infrastructure platform in France

Partners Group, the global private markets investment manager, has, on behalf of its clients, entered into exclusive negotiations with a consortium led by Altice, and including Allianz Capital Partners, AXA Investment Managers – Real Assets, acting on behalf of its clients, and OMERS Infrastructure, to sell its 50% stake in Covage (“Covage” or “the Company”). The transaction gives Covage an equity value of EUR 1 billion.

Covage is a leading open-access fiber infrastructure platform with a national footprint across low-, medium-, and high-density areas in France. The Company operates 45 local networks, complemented by a fully-owned national fiber backbone of 9,000 km. Covage’s awarded perimeter includes 2.4 million homes and 21,000 existing connected businesses. Its connections are built and operated under the support of France’s national rural broadband access program, a key social ESG initiative to bridge the digital divide between rural and urban regions.

The sale of Partners Group’s 50% stake in Covage would be the final divestment from Partners Group’s acquisition of Axia NetMedia Corporation, on behalf of its clients, in a public-to-private transaction that resulted in its delisting from the Toronto stock exchange in July 2016. It follows the divestment of the Canadian operations of Axia NetMedia, which were sold to BCE Inc (Bell Canada) in 2018. The sale of Covage is subject to customary regulatory clearances and is expected to take place during the first half of 2020.

Esther Peiner, Managing Director, Private Infrastructure Europe, Partners Group, comments: “We are very proud of our contribution to the strong growth Covage has experienced over our holding period. Consistent with our platform expansion strategy, significant capital investments from the shareholders have enabled Covage to deliver a material increase in high bandwidth connectivity nationwide and establish itself as a leading provider in the French communication infrastructure market. Partners Group, through the Covage board, worked with CEO Pascal Rialland and his team to successfully institutionalize the fiber roll-out and commercialization framework of the Company, thus demonstrating the considerable value that can be added through entrepreneurial governance.”

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