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Madison Dearborn Partners to Acquire Significant Ownership Position in NextGen Healthcare

Thomabravo

Partners with Company Management and Thoma Bravo to Support NextGen Healthcare’s Growth

CHICAGO & SAN FRANCISCO & REMOTE-FIRST COMPANY—Madison Dearborn Partners, LLC (“MDP”), a leading private equity investment firm based in Chicago, today announced that it has signed an agreement with Thoma Bravo, a leading software investment firm, to acquire a significant ownership position in NextGen Healthcare, Inc. (“NextGen Healthcare” or the “Company”), a leading provider of innovative healthcare technology and data solutions. Thoma Bravo will retain a significant ownership position in NextGen Healthcare. MDP will partner with Thoma Bravo and NextGen Healthcare’s management team to support NextGen Healthcare’s growth.

Founded in 1974, NextGen Healthcare provides Electronic Health Record and Practice Management software and services that allow healthcare practices to focus on delivering better healthcare outcomes for patients and increase clinical quality and productivity. Since acquiring NextGen Healthcare in a take-private transaction in 2023, Thoma Bravo has helped the Company modernize and enhance its capabilities, solutions, and operating structure to enhance the client experience. Additionally, the Company has achieved meaningful organic growth, improved profit margins, and hired new executive leaders devoted to further enhancing its technology and services to provide a superior user experience. As investment partners, Thoma Bravo and MDP will support NextGen Healthcare’s leadership team in continuing to execute the Company’s growth strategy to deliver best-in-class solutions to more healthcare clients.

“We are delighted to partner with MDP and Thoma Bravo to accelerate our investment in developing and delivering transformational solutions to the ambulatory healthcare marketplace,” said David Sides, Chief Executive Officer of NextGen Healthcare. “Our employees, clients, and partners are unified behind our vision of achieving Better Healthcare Outcomes for All. By combining our deep healthcare domain expertise with MDP’s extensive healthcare experience and Thoma Bravo’s renowned software operational expertise, we believe we can deliver on that vision faster.”

Srinivas (Sri) Velamoor, President and Chief Operating Officer of NextGen Healthcare, added, “We are excited to partner with MDP and Thoma Bravo to accelerate the next phase of our growth, and help our clients achieve market leading performance and efficiency fueled by new AI-driven capabilities. We are leveraging AI and automation to elevate every step of the provider and patient journey.”

“NextGen Healthcare has a proven track record of delivering innovative software solutions that enable healthcare practices across the country to improve the patient experience,” said Jason Shideler, Partner and Co-Head of Healthcare at MDP. “We are excited to partner with NextGen Healthcare’s management team and Thoma Bravo to help the Company expand its software offering and assist even more providers in operating efficiently and delivering seamless care to their patients.”

“It’s been a joy working alongside David, Sri and the NextGen management team helping to accelerate our long-term mission of Better Healthcare Outcomes for All,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “We see so much innovation and opportunity ahead, and working with the MDP team again on these opportunities is an exciting endeavor.”

“We are incredibly proud of what we have accomplished in partnership with David, Sri and the entire NextGen Healthcare team since our initial investment in 2023,” added Peter Hernandez, a Senior Vice President at Thoma Bravo. “Together, we have significantly accelerated the Company’s business strategy and product roadmap to help deliver exceptional outcomes for providers and patients. We look forward to continuing to apply our operational and software capabilities to drive continued growth.

The deal, which is subject to customary regulatory approvals, is expected to close in the second quarter of 2025.

Advisors
Goodwin Procter LLP is serving as legal counsel to NextGen Healthcare and Thoma Bravo. Kirkland & Ellis, LLP is serving as legal counsel to MDP.

About NextGen Healthcare, Inc.
NextGen Healthcare, Inc. is a leading provider of innovative healthcare technology and data solutions. We are reimagining ambulatory healthcare with award-winning EHR, practice management and surround solutions that enable providers to deliver whole-person health and value-based care. Our highly integrated, intelligent, and interoperable solutions increase clinical quality and productivity, enrich the patient experience and drive superior financial performance. We are on a relentless quest to achieve better healthcare outcomes for all. Learn more at nextgen.com, and follow us on Facebook, X, LinkedIn, YouTube, and Instagram.

About Madison Dearborn Partners
Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of more than $31 billion and has completed over 160 platform investments. MDP invests across four dedicated industry verticals, including healthcare, basic industries, financial services, and technology & government. Drawing on deep industry and operational expertise, MDP works closely with management teams to drive value creation and operational improvement across its portfolio. For more information, please visit www.mdcp.com

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Read the release on Business Wire here.

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AeroVironment and BlueHalo Complete Transaction — Creating A Global Defense Technology Leader Built for Strategic Advantage in Modern Warfare

AV launches with an integrated portfolio, national manufacturing scale, and global reach — delivering proven systems and emerging capabilities across air, land, sea, space, and cyber

ARLINGTON, Va.–May 1, 2025–AeroVironment, Inc. (“AV”) (NASDAQ: AVAV) announced today the successful completion of the transaction between AeroVironment, Inc. and BlueHalo, LLC (“BlueHalo”), advancing its position as a global defense technology leader with integrated capabilities across air, land, sea, space, and cyber.

“We are excited to complete the acquisition of BlueHalo and move forward as an even stronger and more unified AV that provides the scale, talent, and technology needed to lead in the most critical areas of modern defense,” said Wahid Nawabi, AV Chairman, President, and Chief Executive Officer. “By bringing together two mission-focused organizations, the new AV is built to accelerate innovation, strengthen our customer partnerships, and deliver operational impact across every domain. This is a pivotal step in our journey, and one that positions us to create long-term value for shareholders and strategic advantages for our customers.”

AV brings together proven systems and next-generation technologies to deliver integrated capabilities across every domain of modern warfare. Its systems include autonomous uncrewed systems, precision strike and defensive systems, including AV’s suite of counter-UAS solutions across radio frequency, directed energy and kinetic defeat technologies, space technologies, and cyber and advanced solutions. These capabilities are unified by advanced autonomy, mission software, and command & control systems that enable faster coordination, responsiveness, and decision-making at the tactical edge.

Headquartered in Arlington, Virginia – at the center of the defense innovation corridor – AV operates in more than 40 states and has a combined total of more than 3,750 employees. Its national network of innovation centers, manufacturing sites, and technology labs provide the infrastructure to continue scaling critical capabilities while supporting urgent mission demands. AV’s cross-domain innovation engine, MacCready Works, continues to support the development and rapid transition of next-generation systems that reinforce AV’s leadership across emerging mission areas.

As previously announced, Wahid Nawabi will continue to serve as Chairman, President, and Chief Executive Officer of AV. The combined leadership team includes experienced executives from both organizations, bringing together deep expertise across autonomy, space systems, cyber operations, and defense technology.

To align with customer missions and AV’s financial reporting structure, the company will operate in two business segments:

  • Autonomous Systems: Encompasses uncrewed systems (Group 1–3 UAS), precision strike and one way attack systems (including loitering munitions), defense systems (counter-UAS solutions using radio frequency sensors and electronic warfare solutions), ground and maritime robotic solutions, and MacCready Works, AV’s innovation engine where autonomy, AI, and advanced platform technologies converge to deliver next-generation capabilities. Autonomous Systems is led by Trace Stevenson who formerly led AeroVironment’s Uncrewed Systems organization.
  • Space, Cyber and Directed Energy: Encompasses space technologies, directed energy solutions, cyber solutions, and mission services. Space, Cyber and Directed Energy is led by Trip Ferguson who formerly served as BlueHalo’s Chief Operating Officer.

In connection with the transaction, David Wodlinger and Henry Albers, both from Arlington Capital Partners, have joined the AV Board of Directors, expanding the Board to ten members. More information on AV’s executive leadership and Board of Directors is available at www.avinc.com.

Advisors

RBC Capital Markets served as financial advisor and Latham & Watkins LLP served as legal advisor to AeroVironment. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor to AeroVironment. J.P. Morgan Securities LLC served as financial advisor and Goodwin Procter LLP served as legal advisor to Arlington Capital Partners and BlueHalo.

About AV

AV (NASDAQ: AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber. The company develops and deploys autonomous systems, precision strike systems, counter-UAS technologies, space-based platforms, directed energy systems, and cyber and electronic warfare capabilities—built to meet the mission needs of today’s warfighter and tomorrow’s conflicts. With a national manufacturing footprint and a deep innovation pipeline, AV delivers proven systems and future-defining capabilities with speed, scale, and operational relevance.

For more information, visit www.avinc.com.

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. The firm partners with founders and management teams to build strategically important businesses in the government services and technology, aerospace and defense, and healthcare sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at www.arlingtoncap.com and follow Arlington on LinkedIn.

Statement Regarding Forward-Looking Information

This press release contains statements regarding AV, including its wholly owned subsidiary BlueHalo, that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, forward-looking statements can be identified by words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,” “strategy,” “will,” “intend,” “may” and other similar expressions or the negative of such words or expressions. Statements in this press release concerning AV’s business strategy, production capacity, competitive positions, growth opportunities, employment opportunities and mobility, plans and objectives of management, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting management’s best judgment based upon currently available information. Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from expectations as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which AV is unable to predict or control, that may cause actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated in these statements as a result of a number of factors, including, but not limited to:

  • unexpected costs, liabilities, charges or expenses resulting from the acquisition;
  • the risk that the integration of AeroVironment and BlueHalo will be more difficult, time-consuming or expensive than anticipated;
  • the risk of customer loss or other business disruption in connection with the transaction, or of the loss of key employees;
  • the fact that unforeseen liabilities of AeroVironment or BlueHalo may exist;
  • the risk of doing business internationally;
  • AV’s capital structure following the acquisition of BlueHalo;
  • the challenging macroeconomic environment, including disruptions in the defense industry;
  • risks that AV may not be able to manage strains associated with its growth;
  • dependence on key personnel;
  • stock price volatility;
  • the effect of legislative initiatives or proposals, statutory changes, governmental or other applicable regulations and/or changes in industry requirements;
  • AV’s ability to protect its intellectual property and litigation risks; and
  • other risks and uncertainties identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of AV’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, and other risks as identified from time to time in its Securities and Exchange Commission (“SEC”) reports.

Other unknown or unpredictable factors also could have a material adverse effect on AV’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, AV undertakes (and AV expressly disclaims) any obligation and does not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Arlington Capital Partners

Ryan Fitzgibbon

pro-arlington@prosek.com

 

AeroVironment

Joseph Sala / Woomi Yun / Jenna Shinderman

Joele Frank, Wilkinson Brimmer Katcher

+1 (212) 355-4449

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Holidu doubles down on France with Acquisition of Cybevasion, Following €46M Funding to Advance AI and Expansion

Prime Ventures
  • Holidu acquires Cybevasion (gites.fr and chambres-hotes.fr), strengthening its position in France.
  • French hosts gain access to Holidu’s advanced Property Management Software (PMS) and local support.
  • Guests benefit from faster, smoother bookings on Cybevasion’s trusted platforms.
  • Holidu now manages almost 50,000 properties via its PMS, driving 70% of group revenue.
  • €46M growth funding secured to expand AI, PMS, and expansion in strategic geographies.

Holidu, the fast-growing European holiday rental tech company announced its acquisition of Cybevasion, operator of France’s leading holiday-rental portals gites.fr and chambres-hotes.fr. This strategic move significantly strengthens Holidu’s foothold in France, Europe’s largest holiday home market. Concurrently, Holidu has raised €46 million (~$52 million) in a growth financing round to accelerate its AI roadmap, expand its Property Management Software (PMS) business, and pursue further expansion.

Holidu, founded in 2014 in Munich by brothers Johannes and Michael Siebers, operates one of Europe’s largest holiday rental technology companies. Through its proprietary PMS and on-ground teams, it  helps vacation-rental hosts and small property managers secure more bookings with less effort. For travelers, Holidu’s platform offers a large yet curated portfolio of holiday homes, guaranteeing confident, worry-free bookings.

The acquisition of Saint-Étienne based Cybevasion, founded in 1998 by Jean-Louis Desouche, adds 35,000+ properties and 20 million annual unique visitors to Holidu’s platform, creating one of France’s largest holiday-rental networks.

This marks Holidu’s eighth acquisition to date and underscores the company’s proven, repeatable playbook for bolt-on growth across Europe. Each acquisition has reinforced Holidu’s ability to scale operations, integrate local teams, and deliver consistent value for hosts and guests alike.

Enhanced Value for Hosts, Guests and Partners
Cybevasion property owners will now gain access to Holidu’s full PMS offering, which includes direct online bookings, automated payments, centralized calendar management, multi-channel distribution, a host website configurator and price recommendations. Holidu’s commission-based model, supported by local teams in France—including professional photography services—ensures fair pricing and tailored support.

Existing Holidu’s partner portals will gain increased visibility by being automatically published on gites.fr and chambres-hotes.fr, two of France’s most visited holiday rental domains.
Travelers will enjoy fast, smooth, and transparent booking experiences on Cybevasion’s familiar websites, now powered by Holidu’s platform and wider inventory.

Voices from the Leadership
“France is already one of Holidu’s fastest-growing markets,” said Johannes Siebers, CEO & Co-Founder of Holidu. “By combining Cybevasion’s beloved brands with our tech and local service teams, we’re giving tens of thousands of French hosts an express lane to higher occupancy and international visibility—while delivering a better booking journey for guests.”

Jean-Louis Desouche, founder of Cybevasion and now Directeur Général at Holidu, added:
“I had long been searching for a way to modernize our system and better meet the expectations of today’s travelers, who increasingly expect instant bookings and quick replies. With Holidu’s strong presence across Europe, I’ve found a solution that is innovative, intuitive, and truly centered on the customer.”

€46M Funding Powers Strategic Expansion and AI Acceleration
Since its last public round in October 2022, Holidu has expanded to 28 offices and tripled its managed properties via its PMS to nearly 50,000. Revenues from Holidu’s PMS solution grew 3.5x and now make up for close to 70% of group revenues. AI deployments—ranging across all business areas — have boosted conversion, operational efficiency and occupancy for hosts.

With new funding, Holidu is accelerating AI innovation across all areas of the business.. Strategic investments will also support expansion in priority markets to drive further growth.
“Launching our first AI agent for guests reduced simple support tickets by 70% and complex ones by 30%, while increasing customer satisfaction and booking conversion,” said Michael Siebers, CTO and Co-Founder of Holidu. “We’re doubling down on agentic experiences across all areas—while preserving human interaction with hosts and guests where it truly matters. By accelerating AI across the stack, we’re delivering better service at lower cost and scaling in ways that were unthinkable just a few years ago.”

Holidu has raised a €46 million growth equity round from new investor Key1 Capital, and strong follow-on participation from existing investors including, amongst others, Vintage Investment Partners, Prime Ventures, and 83North.

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Dream Games announces strategic investment by CVC to support next chapter of growth and continued global leadership in mobile games

CVC Capital Partners

Dream Games, the developer and publisher of globally renowned mobile games Royal Match and Royal Kingdom, today announced a strategic investment from CVC, a leading global alternative asset management firm, as its sole equity partner.

The transaction will provide liquidity to Dream Games’ initial venture capital partners who will exit after over five years, and initiates a strategic partnership with CVC as its new equity partner to help further accelerate the Company’s continued global leadership in mobile games. Funds managed by Blackstone, and other investors will provide debt financing as part of the transaction.

Founded in 2019 by mobile game industry veterans Soner Aydemir, Ikbal Namli, Hakan Saglam, Eren Sengul and Serdar Yilmaz, Dream Games is best known for its mobile game Royal Match, the global #1 puzzle game by revenue.

In November 2024, Dream Games launched its highly anticipated second mobile game, Royal Kingdom, the next chapter of the Royal mobile games universe. Both games have achieved global success, with Dream Games recognised as a leader in delivering high-quality, innovative and engaging mobile gaming experiences to customers across the world.

With the support of its new investors, Dream Games plans to continue its expansion of the Royal universe and develop innovative new titles, while continuing to captivate players around the world with its high-quality mobile game experiences.

Soner Aydemir, Co-Founder and CEO of Dream Games, said: “We are incredibly proud of what our team has built so far, and we’re excited to enter this next phase of growth with the support of our new investors. Their experience investing in category-leading companies, and track-record of supporting the long-term vision of founding teams, make them ideal partners as we continue to enhance our global leadership.”

Quotes

We are very pleased to have the opportunity to work with this world class management team, and help them realise their ambitious vision in the Royal Universe.

Nick ClarryManaging Partner and Head of CVC’s Sports, Media and Entertainment team

Nick Clarry, Managing Partner and Head of CVC’s Sports, Media and Entertainment team, commented: “Dream Games has created some of the world’s most beloved and commercially successful IP – including King Robert, King Richard & The Dark King. We are very pleased to have the opportunity to work with this world class management team, and help them realise their ambitious vision in the Royal Universe.”

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

Goldman Sachs International acted as financial advisor and debt structuring agent, and White & Case acted as legal counsel to Dream Games. PJT Partners acted as financial advisor and Latham & Watkins acted as legal counsel to CVC.

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Blackstone Launches BMACX – Blackstone Private Multi-Asset Credit and Income Fund

Blackstone

NEW YORK – May 1, 2025 – Blackstone (NYSE: BX) today announced the launch of Blackstone Private Multi-Asset Credit and Income Fund (BMACX), the firm’s first private multi-asset credit interval fund (the “Fund”). Investors can now access BMACX through select registered investment advisers.

BMACX aims to provide individual investors with a one-stop, private multi-asset credit solution designed to access strategies across Blackstone’s leading $465 billion credit platform. The Fund offers ticker execution with daily subscriptions, quarterly liquidity, and low investment minimums with capital invested immediately.

“We believe BMACX can be a powerful core portfolio building block to tap the expanding credit markets,” said Heather von Zuben, Chief Executive Officer of BMACX. “It brings the full breadth of Blackstone’s credit platform to individuals in what we see as an investor friendly structure.”

“We will aim to deliver high quality, diversified income with lower volatility than traditional fixed income products by investing across a diverse range of compelling credit assets,” said Dan Oneglia, Chief Investment Officer of BMACX. “We believe this multi-strategy approach positions investors to take advantage of attractive relative value, particularly in dynamic market environments.”

BMACX will invest across a diverse range of credit assets, including private corporate credit, asset based and real estate credit, structured credit, and liquid credit, seeking to deliver attractive and stable income through a monthly distribution while managing risk.

BMACX builds on Blackstone’s leadership position delivering private credit solutions to individual investors, with dedicated vehicles focused on direct lending available since 2018.

Blackstone announced that BMACX was declared effective by the U.S. Securities and Exchange Commission in March. More information is available at www.bmacx.com.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

About Blackstone Private Wealth   
Blackstone Private Wealth was established to answer the growing demand for Blackstone products from high-net worth investors. Partnering with many of the world’s largest private banks and wealth management firms as well as family offices, Blackstone’s Private Wealth team packages and delivers the full breadth of Blackstone’s alternative product capability to these firms and their clients and provides ongoing product and advisor support, as well as education and training around alternatives.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward looking statements” within the meaning of the federal securities laws. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,“ “continues,” “may,” “can,” “will,“ “could,” “should,” “seeks,” “approximately,” “predicts,“ “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,“ “identified” or the negative versions of these words or other comparable words thereof.

These may include financial estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward-looking statements are inherently subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BMACX believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its 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 document (or BMACX’s prospectus and other filings). Except as otherwise required by federal securities laws, BMACX undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

This press release must be read in conjunction with the BMACX prospectus in order to fully understand all the implications and risks of an investment in BMACX. This press release is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus, which should be read carefully before investing and is available at www.bmacx.com.  Before investing you should carefully consider BMACX’s investment objectives, risks, charges and expenses.  This and other information is in BMACX’s prospectus.

An investment in the Fund involves a high degree of risk. There is no assurance that the Fund will achieve its investment objectives.  An investment in the Fund is suitable only for investors who can bear the risks associated with limited liquidity.  Shares of the Fund are not listed on any securities exchange and the Fund does not expect any secondary market will develop for the shares. The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law for investment and other general corporate purposes, which will magnify the potential for loss on amounts invested in the Fund. Please see the prospectus for details of these and other risks.

The Fund is distributed by Blackstone Securities Partners L.P. BMACX is a newly formed investment company with no operating or performance history that shareholders can use to evaluate the Fund.

Contact
Thomas Clements
Thomas.Clements@blackstone.com
(646) 482-6088

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Ardian and Rockfield Seal Record Largest Dutch Student Housing Deal in Amsterdam

Ardian

Ardian and Rockfield have acquired the 596-bed Minervahaven student housing building in Amsterdam’s Houthavens district, in what is one of the largest single asset Purpose-Built Student Accommodation (PBSA) deals in the Netherlands on record.

The Amsterdam transaction is the fourth investment by their pan-European strategy dedicated to Purpose-Built Student Accommodation since launch in October after earlier acquisitions of student residences in Florence, Bologna and Barcelona and takes its total investments in the last six months to over €300 million.

Minervahaven has been recognised as ‘The Most Sustainable PBSA Asset in Europe’ by student housing industry association The Class Foundation and has a BREEAM ‘Excellent-in-use’ sustainability certification.

Ardian, a world-leading private investment house, and Rockfield Real Estate, a vertically integrated living platform, have acquired the 596-bed Minervahaven student housing building in Amsterdam’s Houthavens district, as part of their pan-European strategy dedicated to Purpose-Built Student Accommodation (PBSA). The deal is one of the largest single PBSA transactions in the Netherlands on record in terms of gross asset value (GAV).

Minervahaven is the fourth investment by the pan-European student accommodation strategy in just six months from launch – after earlier acquisitions in Florence, Bologna and Barcelona – which takes total capital deployed so far to over €300 million GAV. CBRE Investment Management’s Indirect Strategies provided an initial €500 million equity commitment to the strategy. The strong momentum in fundraising continues, with an expected additional €300 million of commitments closing in Q2 2025 and a target to reach a total of €1 billion for the PBSA strategy by the end of 2025.

Minervahaven was purchased from the Rinkelberg Capital family office and has been developed and managed by Student Experience since 2020, who will continue to operate the property.

Minervahaven is strategically located near universities and the centre of Amsterdam in the Houthavens district of the city on the river IJ, to the west of its central station. The 26,060 sqm gross floor area (GFA) student accommodation has 596 fully furnished modern studios, each with a private kitchen and bathroom, alongside 300 sqm off office space and a rich variety of communal space and amenities that include a gym, cinema, co-working spaces, a rooftop terrace and green courtyard.

The property has excellent connections to the rest of the city including the nearby 17th Century central canal district, which is a UNESCO world heritage historic site, and has easy access by ferry to the upcoming trendy district of Amsterdam North. It has also been recognised as ‘The Most Sustainable PBSA Asset in Europe’ by student housing industry association: The Class Foundation and has a BREEAM ‘Excellent-in-use’ sustainability certification.

Ardian and Rockfield’s strategy is to create a diversified portfolio of high-quality assets, focusing on European markets (especially Germany, the Netherlands, Italy, Iberia and France) where student housing is in high demand and short supply in leading education hubs, characterized by a strong concentration of universities, a growing student population, and limited existing PBSA provision.

Target acquisitions are predominantly income-producing properties, but also selective forward purchase and forward-funding opportunities, capturing value through the development of new high quality student residences.

With a core+ focus, the strategy aims to create value by enhancing the operational performance of its assets, as well as their potential to contribute to the global effort of reducing GHG emissions in line with the Paris Agreement.

“This acquisition underlines our clear ambition to significantly expand Ardian’s presence in the PBSA sector across Northern Europe. With a particular focus on the Netherlands and the high potential German market, we see a tremendous opportunity to grow our portfolio with sustainable, high-quality assets that meet the evolving needs of students and cities alike. Leveraging our long-term capital and operational expertise as well as a significant project pipeline, we are committed to becoming a key player in shaping the future of student living in the dynamic European market.” Bernd Haggenmüller, Senior Managing Director Real Estate, Ardian

“Minervahaven is the ‘jewel in the crown’ of our strategy. The property’s strong sustainability credentials and the high quality of the living space exemplify the type of asset we are looking for to make this evergreen platform the leading one across Europe, as well as being a testament to the development and asset management skills of Student Experience. The strong demand for student housing in the Netherlands, which is not close to being met by sufficient supply, can be seen by the speed at which all the rooms at Minervahaven were rented out – within two days of becoming available online at the start of the 2024/25 academic year.” Wouter Van Den Eijnden, CEO, Rockfield

Rockfield and Ardian were assisted by Savills as commercial advisor, MC2 as technical advisor, Van Doorne and Linklaters as legal advisor, and PwC as tax advisor. Rinkelberg Capital and Student Experience were assisted by Van Lanschot Kempen as financial advisor and Loyens & Loeff as legal advisor.

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Apollo Closes its Debut Secondaries Fund at $5.4 Billion, Exceeding Target

Apollo logo

Brings Total Capital Raised Across Apollo S3 Platform to Nearly $10 Billion Since 2022 Launch

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the final close of Apollo S3 Equity and Hybrid Solutions Fund I (“ASEHS” or the “Fund”), the flagship equity secondaries drawdown strategy of Apollo’s Sponsor and Secondary Solutions (S3) platform, with approximately $5.4 billion in commitments. The final closing exceeded the target, reflecting strong support from a diverse group of global investors including pension funds, sovereign wealth funds, financial institutions and the Wealth segment. The new fund brings total capital raised across the Apollo S3 platform to nearly $10 billion since launching in August 2022.

S3 and ASEHS seek to provide a holistic set of financing and liquidity solutions, including secondary investments, net asset value (NAV) loans, GP lending, staking and more, for private markets sponsors and investors across asset classes, leveraging Apollo’s expertise in private markets and global, integrated platform. Following record levels of secondary transaction activity in 2024, Apollo believes the Fund is well positioned to continue to address significant market needs for dynamic liquidity solutions for GPs and LPs while providing strong alignment with investors.

Co-Heads of Apollo S3 Steve Lessar, Veena Isaac and Konnin Tam said, “We believe this successful fundraise solidifies S3 as a leading investment platform providing flexible capital solutions across the secondaries landscape. The strong support that we received from our global investors reflects our differentiated platform and strategy, our disciplined, partnership-oriented approach, as well as the vast and growing opportunity set in private market secondaries.”

Apollo Co-President Scott Kleinman said, “We have made incredible progress since launching our S3 business unit less than three years ago, efficiently scaling a new business line in a high-growth market. The provision of liquidity solutions in a variety of formats to both sponsors and LP investors is an increasingly important part of the financial ecosystem, and we believe the S3 platform is positioned as a creative capital solutions provider of choice amid robust market demand.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of ASEHS.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About Apollo S3

S3 is Apollo’s Sponsor & Secondary Solutions business. S3 provides flexible capital solutions to asset managers and limited partners across the risk-reward spectrum. S3 is a natural extension of Apollo’s global investment platform, offering partner-oriented capital across asset classes including private equity, private credit, infrastructure and real estate. To learn more about S3, please visit http://www.apollos3.com/.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
ir@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com

Categories: News

Apollo Closes on $8.5 Billion for Accord+ Strategy, including $4.8 Billion for Second Vintage Fund

Apollo logo

Brings Total Assets Raised Across Hybrid and Opportunistic Credit Business to $40 Billion

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced it has closed on $8.5 billion in total commitments for the Accord+ strategy, inclusive of $4.8 billion for Accord+ Fund II (“the Fund”) as well as separately managed accounts and related structures. The successful close of the second vintage exceeds internal targets and brings total assets for Apollo’s hybrid credit business to approximately $40 billion.

Accord+ II employs an opportunistic strategy focusing on high-conviction investments across the credit spectrum. The Fund is expected to tactically allocate to high quality, top of the capital structure investments across both private corporate credit and asset-backed finance as well as secondary opportunities as informed by prevailing market conditions.

“As rates stay higher-for-longer and volatility impacts capital flows, we see an attractive market for opportunistic credit investments, alongside our highest-conviction themes,” said Chris Lahoud, Partner and Head of Opportunistic Credit at Apollo. “We believe our scaled, integrated Credit platform positions us well to execute with speed and certainty in all market environments, including periods of dislocation.”

John Zito, Co-President of Apollo Asset Management and Head of Credit, added, “We are pleased to see strong investor demand for the latest vintage of our Accord+ series, which we view as a result of our investment acumen, alignment and the market opportunity at hand. Accord+ is also a great illustration of our focus on product innovation, building upon the original Accord dislocation strategy to respond to investor needs and deploy capital to many of our best ideas throughout market cycles.”

The Accord+ II close reflects broad support from a global and diverse group of investors including pension funds, sovereign wealth funds, financial institutions and family offices. Apollo intends to continue building its Accord strategy family within its hybrid business, including future funds and bespoke credit solutions tailored to institutional and wealth clients.

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of the Accord+ II Fund.

About Apollo
Apollo is a global, high-growth alternative asset manager. In its asset management business, Apollo seeks to provide clients excess return at every point along the risk-reward spectrum from investment grade to private equity, with a focus on three core strategies: yield, hybrid, and equity. For more than three decades, Apollo’s investing expertise across its fully integrated platform has served the financial return needs of clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo’s retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Apollo’s patient, creative, and knowledgeable approach to investing aligns its clients, the businesses it invests in, its team members, and the communities it impacts to expand opportunity and drive positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

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Platinum Equity’s Credit Team Leads Refinancing for Impact Climate Technologies

Platinum

Incumbent lender Platinum steps up again with new financing solution to support ICT’s continued growth

LOS ANGELES (April 30, 2025) – Platinum Equity announced today it led a financing for Impact Climate Technologies to refinance its existing indebtedness and support future growth of the business.

ICT is a leading supplier of design-assist engineering and manufacturers’ representation services to the commercial HVAC industry across data center, healthcare, life sciences, education, government, industrial and other commercial end markets.  ICT offers a comprehensive range of HVAC product lines, including custom air handling units, packaged equipment, precision cooling equipment, air distribution, fans, sheet metal products and a variety of other specialty applied equipment and commercial components.

ICT’s operating companies include local firms like Tom Barrow Company (Southeast), RF Peck (upstate NY), H&B Engineered Products (Mid Atlantic), Indiana Thermal Solutions (Midwest), Keller Rivest (Midwest), DMR Associates (Mid Atlantic), Texas Air Products (Texas), Fontanesi & Kann (Midwest), Biogrid (Midwest) and Architectural Building Products (Midwest).

“ICT and Ardian have been excellent partners, and the ICT platform continues to grow. We are enthusiastic to partner with Ardian again and continue supporting their next chapter.”

Jacob Kotzubei and Louis Samson, Co-Presidents, Platinum Equity

In 2023, Platinum Equity provided a loan to Tom Barrow Company in connection with Ardian’s acquisition of a majority stake in the business. Since that time, the company has grown both organically and inorganically, expanded its geographic reach, and deepened its relationship with both vendors and customers.   Platinum Equity’s latest financing sets the stage for ICT’s continued growth in the years to come.

“ICT and Ardian have been excellent partners, and the ICT platform continues to grow,” said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement.  “We are enthusiastic to partner with Ardian again and continue supporting their next chapter.”

The ICT refinancing was led by Platinum Equity’s dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

“As an incumbent lender, we know ICT’s operations, leadership team and industry well and are in a great position to provide a new financing solution to support the company’s continued growth,” said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. “Our aim is to establish meaningful long-term partnerships with borrowers where we can truly add value and continually meet their needs as strategies evolve.”

Platinum’s credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions and debt financings.

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Cegeka opens new Modern Security Operations Center (SOC) in the US

GIMV

From the heart of Europe to global 24/7 cyber resilience.

Cegeka, a leading IT company headquartered in Belgium, is expanding its global network of Security Operations Centers (SOCs) to the United States. The new Modern SOC will operate out of the headquarters of its subsidiary CTG in Buffalo, New York.

This expansion marks a major milestone in Cegeka’s growth and strengthens its ability to provide 24/7 protection against cyberattacks to customers in Europe and beyond. The new SOC is part of Cegeka’s growing Modern SOC network, which integrates advanced technology with human expertise to deliver next-level cybersecurity.
“With this expansion, we can better support our international customers, no matter the time zone,” said Fabrice Wynants, Global VP Cybersecurity & Networking at Cegeka. “Our clients can rely on our 24/7 Managed Detection & Response services, held to the highest standards, wherever they are. This not only offers peace of mind, but also ensures compliance with local data security and privacy regulations.”

Cegeka Modern SOC Network 
The new SOC in Buffalo joins Cegeka’s existing centers in Belgium and Romania, addressing the increasing demand for advanced cybersecurity services. Through its Managed Detection & Response offering, Cegeka helps organizations strengthen their defenses, especially at a time of growing regulatory pressure and a shortage of cybersecurity talent.

“The cybersecurity landscape has changed dramatically,” Wynants added. “Attacks are becoming more complex. Our solutions help customers not only detect threats early, but also respond quickly and recover efficiently. With our Security Observability Dashboard, we give businesses clear insights into their security posture and help boost their cyber resilience. Cybersecurity is no longer just a cost—it’s a strategic asset.”

From cybersecurity to cyber resilience
Cegeka Modern SOC stands apart from traditional SOCs by combining expert analysts with automated processes and detection tools. This results in more effective threat detection, faster response times, and improved recovery. Cegeka also supports organizations in making the critical shift from traditional cybersecurity to full-scale cyber resilience.

“Prevention alone isn’t enough anymore,” said Bart Watteeuw, Executive Vice President Services & Solutions at Cegeka. “In today’s threat environment, it’s not a matter of if an attack will happen, but when. Our solutions equip organizations with the tools and services to detect, respond, and recover—quickly and effectively.”

Ambitious, yet grounded 
“We’re ambitious as a group, but also realistic,” said CEO Stijn Bijnens. “Cyberattacks don’t respect borders, and neither do we. This move is a natural step in our international growth, while staying true to our European roots.”

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