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Ceetrus Sells a Portfolio of 9 Commercial Assets in France to Carlyle and Othrys Asset Management

Carlyle

Paris – Global investment firm The Carlyle Group (NASDAQ: CG) and Othrys Asset Management today announced they have finalised the joint acquisition of the Canyon portfolio from Ceetrus.   Equity for the investment came from Carlyle Europe Realty (CER), a fund which makes investments in real estate and real estate related assets and companies.

The portfolio, mainly composed of shopping malls or co-owned lots adjacent to Auchan hypermarkets, includes malls at Nancy Laxou, Châtellerault, Domérat, Mers-les-Bains and the Dieppe retail park. 

With this transaction, Carlyle continues to strengthen its presence in France and this acquisition represents a new strategy focused in particular on the acquisition and active management of local shopping malls, focusing on a range of convenience services and products.

Carlyle was advised by DLA Piper, Wargny Katz and Darrois Villey Maillot Brochier. 

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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with $216 billion of assets under management across 343 investment vehicles as of December 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Carlyle Europe Realty
Carlyle Europe Realty (CER) is focuses on investments in a thematic and targeted way in real estate and real estate related assets and companies primarily in the United Kingdom, France and Germany, as well as Belgium, Denmark, Finland, Ireland, Italy, Luxembourg, Norway, Portugal, Spain, Sweden and the Netherlands pursuing an opportunistic investment and management strategy. The CER investment team is led by European real estate veteran Peter Stoll and a senior team that averages over 17 years of European principal investing experience. The CER investment team has an on-the-ground presence in key locations in the United Kingdom, France and Germany and a pan-European investment team based in London, as well as benefitting from the global resources of Carlyle.

About Ceetrus
Established in 1976, Ceetrus is a global real-estate actor known as Immochan until June 2018.  Ceetrus operates a transformation since 2016 to become a global real-estate development company. With 295 shopping centres worldwide and thanks to strong partnerships within citizens and territories, Ceetrus builds animating places integrating commerce, housing, offices and urban infrastructures. By creating sustainable, smart and lively places, Ceetrus’ statement is to build or enhance a real human link between people to make tomorrow’s city. Its fields of expertise are from development, promotion, investment, site administration to innovation.

Key figures :  10 countries, 295 shopping centres, 10 700 trade partnerships, 39 000m² of housing & 89 000 m² of office in 2018, 900 employees.

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Media Contacts

Steele &Holt for The Carlyle Group 
Daphné Claude & Dominic Riding
Email : carlyle@steeleandholt.com 
Téléphone : +33 (0)6 66 58 58 81 92 / +33 (0)6 57 48 83 24

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Tesi in 2018: Strong performance and new initiatives to boost sustainable growth

Tesi

INVESTMENTS IN COMPANIES, INVESTMENTS IN FUNDS, IMPACT – 13.3.2019

In 2018, Tesi made new investments of €121m to accelerate the growth and internationalisation of Finnish companies. The aggregated net sales of direct portfolio companies grew on average by 19% during the financial year. Exits reached record levels in 2018, especially in the case of venture capital investments. Tesi’s social impact is manifested in the growth of portfolio companies and is exerted by promoting the development of Finland’s investment industry and enhancing skilled ownership. Another objective, alongside boosting companies’ growth, is to internationalise the Finnish venture capital and private equity market though investments made in funds as well as via direct minority investments.

CEO Jan Sasse:

“Investment volumes were very high in 2018: we gave a total of €59m in new investment commitments to eight funds and €37m via the FoF Growth III fund co-managed by Tesi and Finnish pension & insurance companies. We also made direct investments in companies totalling €62m, of which €52m were first-round investments. Tesi’s international partners invested altogether €123m in Finnish growth companies. As well as providing capital, they also brought access to valuable international business expertise and essential networks.

Our investment year was excellent, in terms of exits from both our Finnish and international funds. One outstanding example of this was Creandum’s exit from Spotify, which listed on the New York stock exchange. The year was also profitable, following the trend of previous years, although the growing uncertainty prevailing in the world economy towards year’s end kept net profit at €55m.

As a state-owned VC/PE investor, we constantly evaluate our role in the market. In doing so, we contemplate new strategic objectives and the fate of existing entities. As a new operational format, we started anchor investing to support growth companies for which an IPO is the best option, but whose size or sector makes an IPO challenging. On another front, a co-investment programme we will conduct with the European Investment Bank, hand-in-hand with private investors, will channel €100m of equity financing to promote the growth of innovative SMEs and mid-cap companies.

Tesi’s investment programmes focus on growth and the renewal of economic structures. At the end of the year, we launched a €75m Circular Economy investment programme. Its objective is to boost the growth and internationalisation of existing companies and encourage the creation of new funds investing in the circular economy.“

Business environment

Finland’s economy continued to grow in 2018. The partially conflicting forecasts for the global economy during the last quarter and the uncertainty about the future they caused were reflected, of course, in market sentiments.

Finnish growth companies again reached new records in raising venture capital. The total sum raised was over €350m, with most of the financing rounds exceeding €10m in size.

Finnish buyout funds in the SME sector investing in companies in a later stage of development again saw abundant capital seeking new investees. A large part of these funds’ investment capacity had a crucial focus for Finland’s business structure – the growth and internationalisation of medium-sized companies, an increase in their numbers, and buyouts. This corporate segment has also seen increasing demand for minority investments.

Investment operations

Tesi made new investments in companies and gave investment commitments to venture capital and private equity funds amounting to €121m (€149m). Investment commitments totalling €59m (€60m) were made to eight VC/PE equity funds. Five commitments were to venture capital funds and three commitments to growth and buyout funds. Direct investments amounting to €62m (€29m) were made in altogether 26 companies.

Overall, almost €250m in new risk capital was channelled into portfolio companies, representing over four times the amount invested by Tesi. Of this capital, some €61m came from international investors.

The €75m Circular Economy investment programme was launched at the end of 2018. A direct investment in Uusioaines Oy and a fund investment in Environmental Technologies Fund III were made from the programme.

Financial performance

Tesi once again performed strongly in 2018, despite the growing uncertainty in the global economy towards the end of the year. Realised net gains from venture capital and private equity investments largely contributed to the healthy profit.

Net gains from venture capital and private investments amounted to €90m (€69m), comprising net gains from funds €72m (€53m) and net gains from direct investments €18m (€15m). The increase in net gains was largely due to numerous successful exits from portfolio companies and a general rise in valuation levels. Net gains from direct investments derived from the seven exits effected during the year. Net losses (gains) from financial securities were -€14m (+€18m), largely due to a globally difficult last quarter for both shares and interest-bearing instruments. Operating profit amounted to €68m (€80m), and profit after taxes for the financial year was €55m (€66m).

The balance sheet total at the end of 2018 was €1,031m (€1,020m) and the company’s equity amounted to €999m (€978m). The carrying value of venture capital and private equity funds at the end of 2018 was €371m (€372m) and the carrying value of direct investments €235m (€189m).

The total amount of VC/PE investments under management at the end of 2018 was €1.2 billion. This includes the capital of the FoF Growth I, FoF Growth II and FoF Growth III funds that Tesi manages, in addition to Tesi’s own commitments and investments.

The cumulative amount with which the Finnish government has capitalised Tesi from the very start of its operations is €655m. The Company’s cumulative profit from operations, including the figure for the 2018 financial year, amounted to €341m. In addition to this, Tesi has generated altogether €163m for the Finnish state in corporation tax and dividends.

Events after the financial year

In early 2019, Tesi gave an investment commitment to a Finnish growth fund (more details to be published later) and also participated in LeadDesk’s successful listing on Helsinki’s First North exchange.

Prospects

In 2018, Tesi initiated a process for updating its strategy, which will be put into practice in spring 2019. The strategic objective is twofold: to identify those market areas in which Tesi is most needed; and to develop Tesi’s means for accelerating companies’ growth and internationalisation most efficiently and with maximum social impact. As a developer of the VC/PE market, Tesi plays a role that serves and supplements the market, and we can fulfil that role by, for instance, producing market data that can be usefully exploited. Tesi also acts at a social level: investments and ownership produce a beneficial social impact as well as being profitable.

Tesi wants to broaden the Finnish and international investor base operating in Finland’s market. This will provide funds with more private capital allowing them, as a result of larger capital sums, to finance their portfolio companies for longer. A number of new Finnish VC/PE investment companies are in the process of fund-raising, and projects arising from this are expected to emerge during 2019.

Minority investment operations will continue along the lines of previous years: in promising SMEs to supplement the market’s existing financing options; and in industrial investments. The Circular Economy will remain a key investment programme.

Tesi will continue to cooperate closely with the European Investment Fund and the European Investment Bank in channelling EU funds into Finnish venture capital funds and growth companies, in collaboration with private investors.

As we enter a new financial year, Tesi has strong resources for long-term investment operations that promote the growth of Finnish companies.

Decisions of the Annual General Meeting

The Annual General Meeting was held on 8 March 2019. Kimmo Jyllilä was elected Chairman of Tesi’s Board of Directors. Marika af Enehjelm, Pauli Kariniemi, Mika Niemelä, Annamarja Paloheimo and Riitta Tiuraniemi will continue as members of the Board of Directors. Jyrki Mäki-Kala was elected as a new member of the Board of Directors.

For further information, please contact:

Board Chairman Kimmo Jyllilä, tel. +358 (0)40 502 5105
CEO Jan Sasse, tel. +358 (0)40 861 9151
Interim CFO Gösta Holmqvist, tel. +358 (0)40 570 6508

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that invests profitably and responsibly, creating value from day one. Our investments under management total 1.2 billion euros and we have over 700 companies in portfolio, either directly or through funds. We help Finland to the next level of growth and internationalisation. Follow our success stories: www.tesi.fi / dtg.tesi.fi and @TesiFII.

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EURAZEO CAPITAL enters into exclusive discussions with MONTAGU to acquire DORC

Eurazeo

Paris, March 13, 2019 – Eurazeo Capital entered into exclusive discussions with funds managed by
Montagu Private Equity to acquire DORC (Dutch Ophthalmic Research Center). Eurazeo Capital will invest
close to 300M€ in this transaction. DORC will be the fifth investment of Eurazeo Capital IV. This investment
perfectly fits the strategy presented during the 2018 Annual Results presentation.
Established in 1983 and headquartered in the Netherlands, the company operates in the medical
technology sector and is one of the global leading specialists of vitreoretinal surgery. DORC designs,
manufactures and distributes ophthalmic surgery equipment, consumables and instruments.
The company serves over 5,700 surgeons and is recognized for its strong innovation capability. DORC is
a global company with a presence across 80 countries and enjoys strong market shares in Europe. DORC
has more than 500 employees worldwide.

Additional financial information will be disclosed at the closing of the transaction.
Marc Frappier, Managing Partner, Head of Eurazeo Capital commented: “The acquisition of DORC fits
perfectly with our investment strategy to support growing businesses with a strong international
development potential as they scale up. Widely recognized as innovative and best in class by surgeons
across the world, the Company delivers remarkable financial performance. We expect to leverage our
international network to accelerate DORC’s growth.”

DORC will engage to immediately inform and consult the employee representative bodies of the company.
The final closing of the transaction will occur once the process with employee representative bodies is
finalized and clearance from relevant antitrust authorities is obtained.
About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and
Madrid.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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Quimper declares the offer for Ahlsell unconditional, will acquire all tendered shares

On 11 December 2018, Quimper AB (a company that has been or will be indirectly invested in by CVC Funds) (“Quimper”)1, announced a public cash offer to the shareholders in Ahlsell AB (publ) (“Ahlsell” or the “Company”) to tender all their shares in Ahlsell to Quimper (the “Offer”). The offer document regarding the Offer was made public on 19 December 2018.

The shares tendered in the Offer at the end of the initial acceptance period on 11 February 2019, together with the shares already held or otherwise controlled by Quimper, and closely related parties, amount to in aggregate 403,296,725 shares in Ahlsell, corresponding to approximately 93.9 percent2 of the share capital and the voting rights in Ahlsell.

Quimper hereby announces that all conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Quimper will complete the acquisition of the shares tendered in the Offer. Settlement for shares tendered in the Offer during the initial acceptance period will take place in accordance with previously communicated plan, i.e. around 19 February 2019.

To provide the remaining shareholders of Ahlsell who have not tendered their shares time to accept the Offer, the acceptance period will be open beyond the end of the initial acceptance period, until 27 February 2019 at 15.00 (CET). Settlement for shares tendered in the Offer during the additional acceptance period is expected to start around 7 March 2019. Quimper reserves the right to further extend the acceptance period for the Offer.

Prior to announcement of the Offer, Quimper, and closely related parties, held in aggregate 109,578,323 shares in Ahlsell, corresponding to approximately 25.1 percent3 of the share capital and the voting rights in Ahlsell. At the end of the initial acceptance period on 11 February 2019, the Offer had been accepted by shareholders representing in total 293,718,402 shares in Ahlsell, corresponding to approximately 68.4 percent4 of the share capital and the voting rights in Ahlsell.

Quimper does not hold any financial instruments that give financial exposure to Ahlsell shares and has not acquired any such shares or financial instruments outside the Offer.

Quimper will initiate compulsory acquisition of the remaining shares in Ahlsell as well as promote a delisting of Ahlsell’s shares from Nasdaq Stockholm.

1 Quimper is a newly formed entity that has been or will be indirectly invested in by funds or vehicles (“CVC Funds”) advised by CVC Advisers Company (Luxembourg) S.à r.l. and/or its affiliates. “CVC” means CVC Advisers Company (Luxembourg) S.à r.l. and its affiliates, together with CVC Capital Partners SICAV-FIS S.A. and each of its subsidiaries.

2 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

3 Based on all 436,302,187 outstanding shares in Ahlsell, including the 7,000,000 shares which are held by Ahlsell in treasury.

4 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

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EQT closes fourth Infrastructure fund at EUR 9 billion – strengthens position as a leading global infrastructure investor

eqt

  • EQT Infrastructure IV holds first and final close at EUR 9 billion hard cap after six months of fundraising
  • Strong investor support for EQT’s industrial approach to infrastructure investing
  • EQT Infrastructure IV has made two investments to date; Saur in France and Osmose Utilities Services in the US

EQT today announced that EQT Infrastructure IV (the “Fund”) held its first and final close at its hard cap of EUR 9 billion on March 12, 2019, after officially launching in September 2018. Demand from both existing and new investors was strong, with a majority of the commitments made by investors in the predecessor fund, EQT Infrastructure III, which closed at its EUR 4 billion hard cap in February 2017.

EQT Infrastructure IV will continue to follow the industrial approach to infrastructure investing that has been successfully applied by EQT Infrastructure since its inception in 2008. The Fund will invest in high-quality companies with infrastructure characteristics and strong value creation potential. EQT Infrastructure will leverage its global platform, proven governance model and growth-focused approach to drive performance. The Fund will be supported by a dedicated investment advisory team and EQT’s extensive network of Industrial Advisors.

EQT Infrastructure IV will primarily pursue investment opportunities in Europe and North America and may opportunistically explore opportunities in Asia Pacific. The Fund has made two investments to date: Saur, a leading French drinking and waste water management company, and Osmose Utilities Services, a leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in the US.

Lennart Blecher, Deputy Managing Partner at EQT Partners (acting as exclusive investments advisors to the Fund), and Head of EQT Real Assets, commented: “EQT Infrastructure has a great track record of delivering attractive, risk-adjusted returns to investors since the inception of the EQT Infrastructure platform more than 10 years ago. The successful fundraising of EQT Infrastructure IV confirms investors’ trust in EQT and illustrates the continued demand for infrastructure investments in the Fund’s core regions.”

Christian Sinding, CEO and Managing Partner of EQT Partners, added: “EQT Infrastructure IV marks another important milestone for EQT and manifests our position as a truly leading global investment firm. We are glad to welcome more than 40 new investors to EQT and excited about their trust in our responsible and growth-focused approach to investing.”

The fundraising was led by the in-house Investor Relations team within EQT Partners. Jussi Saarinen, Partner and Head of Investor Relations, said: “We are pleased with the strong support demonstrated by existing and new investors and are very pleased with the high quality of the Fund’s investor base.”

EQT Infrastructure IV is backed by a global blue-chip investor base consisting of, among others, pension funds, insurance companies, sovereign wealth funds, financial institutions, endowments, foundations and family offices. With the closing of the Fund, EQT has approximately EUR 14 billion in infrastructure assets under management.

Contact
Lennart Blecher, Deputy Managing Partner at EQT Partners and Head of EQT Real Assets +41 44 266 68 00
EQT Press Office, press@eqtpartners.com +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About EQT Infrastructure IV
EQT Infrastructure IV is a EUR 9 billion fund that will seek to continue its historically successful strategy of investing in strong-performing infrastructure companies with the potential for significant value creation in sectors with suitable infrastructure characteristics and favorable market trends. The Fund will make primarily equity or equity related investments typically ranging between EUR 100 million and EUR 600 million where the Fund will either hold control or co-control positions or otherwise be capable of exercising a significant influence. The Fund will continue to invest in the core geographies of Europe and North America and may opportunistically explore opportunities in Asia Pacific. The Fund will primarily focus on making investments in the energy, transport & logistics, telecom, environmental and social infrastructure sectors.

The fundraising for EQT Infrastructure IV has now closed. Accordingly, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interests or to engage in any other transaction.

This press release is translated into multiple languages for information purposes only. In case of a discrepancy, this version shall prevail.

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CapMan Buyout to sell Maintpartner’s operations in Finland, Estonia and Poland to Caverion

The funds managed by CapMan Buyout have agreed to sell Maintpartner Group Oy to Caverion.

Maintpartner is one of the leading industrial operation and maintenance companies in Northern Europe operating in Finland, Sweden, Estonia and Poland. Maintpartner provides services in the industrial sectors of energy, chemicals, metal, food and manufacturing. Maintpartner’s net sales were EUR 164 million in 2018, and the net sales of the entity now to be sold were EUR 137 million, most of which came from Finland.

”During CapMan’s ownership period Maintpartner has grown significantly and has established a firm foothold in various industrial sectors. In addition, the company has developed IoT solutions and machine learning analytics for industrial companies to improve their operation and maintenance processes. Maintpartner’s sale to Caverion Industrial Solutions Division provides an excellent basis for further growth and development of the operations”, comments Jan Mattlin, partner at CapMan Buyout.

The acquisition is in line with our Fit for Growth strategy and strengthens our Services business. Our Industrial Solutions division is now fit for growth and we are therefore entering the Growth phase in the division. The acquisition will focus our industrial operations more towards Services business and create a major player in the Finnish market,” says Ari Lehtoranta, CEO and President of Caverion Corporation.

The transaction is subject to approval by the competition authorities. The acquisition includes Maintpartner Group, while excluding the holding company Maintpartner Holding Oy and Maintpartner Group’s subsidiaries and operations in Sweden. The funds managed by CapMan Buyout and the other owners continue as the owners of Maintpartner Holding Oy. The funds managed by CapMan Buyout made an investment in Maintpartner in 2006.

CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 12 investment professionals in Finland and Sweden and 30 years of experience.

For more information, please contact:

Jan Mattlin, partner, CapMan Buyout, tel. +358 40 508 6406

Martti Ala-Härkönen, CFO, Caverion Corporation, tel. +358 040 737 6633

Sakari Toikkanen, Head of Division Industrial Solutions, Caverion Industrial Solutions, tel. +358 040 532 2174

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. CapMan employs today approximately 120 private equity professionals and has over €3 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory and fund management services. Altogether, CapMan employs 120 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg.

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CSAM Announces Deal to Acquire Arcid AS

Priveq

The transaction further strengthens CSAM’s leadership in the Nordic niche eHealth market
OSLO, Norway (March 12th, 2018) – CSAM announced today that it has signed an agreement
to acquire Arcid – a Norwegian eHealth company that focuses on information flow in the
teleradiology domain.

Arcid provides eHealth solutions that improve workflows and simplify the interaction between
healthcare professionals. Among the company’s best-known products are TRIS, a Radiology
Information System; Arcidis, a teleradiology information solution; and HelseMail, a Software as
Service (SaaS) communication platform that enables the encrypted transfer of large, high
volume, and sensitive patient information.

– The combination of CSAM and Arcid will create an innovative and comprehensive offering in
the medical imaging and connected health markets, enabling us to better serve clinicians and
patients, said Sverre Flatby, CSAM CEO. – Arcid has an impressive reputation for delivering
efficiency, quality, and exceptional patient care with their niche software solutions, and we are
pleased they have entrusted CSAM to carry on that tradition of excellence.

– I am confident that CSAM is the right home for Arcid’s team in this exciting growth period to
come, said Kåre-Bjørn Kongsnes, business developer and majority shareholder of Arcid. –
Integrating our highly competent team of people with CSAM, the leading Nordic niche player
within eHealth, strengthens this viable and powerful position.
The acquisition of Arcid is consistent with CSAM’s strategy to pursue growth through a
combination of strategic M&As and organic sales. The transaction is estimated to close before
the end of the month.

– Arcid’s products are an important complement to CSAM’s software solutions in the medical
imaging and connected healthcare domains, strengthening our leadership in these key market
segments, said Flatby. – The mixture of our customers, code and competencies will allow us to
provide even greater value to customers across both public and private healthcare
organisations.

CSAM has been a leading provider of medical imaging and connected healthcare solutions in
the Nordics for more than a decade. The company works closely with healthcare professionals
and organisations to develop software solutions that deliver the highest value for their
operations.

About CSAM
CSAM has established itself as a leading Nordic niche player in the specialised eHealth market
with a unique blend of best-in-class innovative technology, and outstanding human skills. The
company’s diverse portfolio of software solutions enables healthcare providers to access
relevant clinical information at the point of care. CSAM’s commercial headquarters are located
in Oslo, Norway. In addition to the new offices in Tromsø, the company also has local offices in
Stockholm, Karlstad, Gothenburg, Helsinki, Oulu, Tampere, and Warwickshire, as well as a
wholly owned software engineering subsidiary in the Philippines.

A privately-owned company backed by strong financial partners, CSAM aspires to achieve
continued growth both organically and through selected mergers and acquisitions. For more
information, visit www.csamhealth.com.

For more information, please contact:
Sverre Flatby, CEO Jennifer Goode, Communications Director
sverre.flatby@csamhealth.com jennifer.goode@csamhealth.com
+47 9159 9159 +1-705-760-0782
Kåre-Bjørn Kongsnes, Business Developer
kb@kongsnes.no
+47 900 11 040

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CXA Group Raises US$25 Million to Accelerate Expansion Across Asia-Pacific

Heritas

New investors HSBC, Singtel Innov8, Telkom Indonesia MDI Ventures, Sumitomo Corporation Equity Asia, Muang Thai Fuchsia Ventures, Humanica, Heritas Venture Fund and others join CXA’s latest financing round

This strategic capital will accelerate CXA’s growth momentum in the Asia-Pacific region and reinforce the company’s mission of improving the health and wellness of individuals through its employer-driven population health platform

CXA Group, Asia’s one-stop, predictive and data intelligence platform for better health, wealth and wellness choices, announced today that it has raised US$25 million in its latest round of funding. CXA’s new group of strategic investors include HSBC, Singtel Innov8, Telkom Indonesia MDI Ventures, Sumitomo Corporation Equity Asia, Muang Thai Fuchsia Ventures, Humanica and Heritas Venture Fund, underscoring the company’s aim to be the leading health ecosystem platform addressing escalating healthcare costs across the region.

The investment by these leading global financial services institutions, telecommunications providers and payroll companies reflect their belief in CXA’s long-term growth opportunity, and the company’s unique ability to shift healthcare spend from treatment to prevention, without employers spending more.

Rosaline Chow Koo, Founder and Chief Executive Officer, CXA Group said: “We are honoured to welcome these top-tier corporations into our roster of strategic investors and partners. CXA is today the leading health ecosystem platform that enables individuals across Asia to make better choices for healthier living, starting from the workplace, thereby empowering a shift in spend from treatment to prevention. We have seen overwhelming interest from global strategic investors who are excited to work with us to advance our business and vision.”

“These latest investors will become strategic partners, and we will look to closely collaborate in designing customised platform-led solutions for their B2B enterprise customers, and as importantly, the employees of these enterprises,” said Koo.

With chronic diseases hitting people in Asia earlier than in the West and healthcare costs escalating1, the company found that the antiquated pen-and-paper, one-size-fits-all approach to managing these costs was systemically wrong. This situation, if left unaddressed, would only get worse and become economically unsustainable over time.

The company has pioneered a one-stop, self-service platform that allows employers to give their employees access to an ever-widening range of health, wealth and wellness offerings, personalised based on the individual’s health and life-stage data. Employees can purchase offerings by drawing down on existing insurance policies provided by their employers and using funds that are then released into the platform’s eWallet to make transactions cashless, fast and easy.

Through the aggregation, anonymisation and analysis of digitised health and life-stage data, CXA helps employers get to the root cause of their workforces’ health issues and design specific interventions – such as corporate wellness and disease management initiatives – that will have the greatest impact on cost and health improvement, for reductions in tomorrow’s chronic disease and healthcare spend, today.

Headquartered in Singapore, CXA achieved revenue growth of 65 percent in 2018 and is expected to double that in 2019. This latest funding round follows US$33 million in total funding from Series A and B in 2015 and 2017 respectively. Other investors in CXA include B Capital Group, Openspace Ventures, Government-linked strategic investor EDBI, BioVeda Capital, FengHe Asia, Philips and RGAx.

Supporting Quotes from New Investors:

Edgar Hardless, Chief Executive Officer of Singtel Innov8 said, “CXA’s innovative use of analytics helps its enterprise clients effectively manage their healthcare costs and promote their employees’ wellbeing. We are excited to be an investor in CXA and help with their expansion across Asia.”

“CXA is rapidly emerging as a leader in the Health and Insurtech space. It has an innovative platform-led approach to helping companies optimise their health spend through personalised engagement with employees about their physical and financial wellness. We are excited about this investment partnership and the disruptive opportunities it presents,” said Bryce Johns, Group Head of Insurance, HSBC.

“Heritas invests in high-growth companies that are tackling major healthcare challenges faced by Asian populations,” said Chik Wai Chiew, Executive Director and CEO, Heritas Capital Management. “We are pleased to support CXA in this financing round to scale its employer-driven population health platform, as the company continues to pioneer solutions that connect the whole healthcare continuum and shift employers’ healthcare spend from treatment to prevention.”

Supporting Quotes from Previous Investors:

“Strategic investment in CXA from HSBC, Singtel Innov8 and others reinforces our belief in technology enablement and value creation from high-growth companies partnering with larger organisations and transforming in collaborative fashion. With the collective support of banks, insurers, telcos and payroll companies as co-investors, CXA can now accelerate its expansion into new markets and bancassurance channels, while creating new revenue opportunities for these partners’ businesses,” said Eduardo Saverin, Co-Founder and Partner, B Capital Group, the lead investor in CXA’s previous Series B funding round.

About CXA Group:

CXA Group is Asia’s one-stop, predictive and data intelligence platform for better health, wealth and wellness choices. Through the CXA platform, employers can empower employees with access to personalised health and lifestyle offerings, with clear and quantifiable ROI for the business. Founded in 2013 with the mission of transforming the delivery of employee benefits from pen-and-paper and one-size-fits-all to a digitised and personalised platform, the company aims to shift healthcare spend from treatment to prevention, to improve workplace population health.

Driven by a team of industry veterans with extensive leadership experience across Asia’s human resource, insurance, finance, healthcare and technology industries, CXA serves more than 600 enterprises, including Fortune 500 companies, and more than 400,000 employees in 20 countries. CXA has received recognition as InsurTech of the Year from the Asia Insurance Industry Awards and was among the top three most impactful innovations at the Singapore Digital Techblazer Awards.

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CSAM Announces Deal to Acquire Arcid AS

Priveq

The transaction further strengthens CSAM’s leadership in the Nordic niche eHealth market
OSLO, Norway (March 12th, 2018) – CSAM announced today that it has signed an agreement
to acquire Arcid – a Norwegian eHealth company that focuses on information flow in the
teleradiology domain.

Arcid provides eHealth solutions that improve workflows and simplify the interaction between
healthcare professionals. Among the company’s best-known products are TRIS, a Radiology
Information System; Arcidis, a teleradiology information solution; and HelseMail, a Software as
Service (SaaS) communication platform that enables the encrypted transfer of large, high
volume, and sensitive patient information.

– The combination of CSAM and Arcid will create an innovative and comprehensive offering in
the medical imaging and connected health markets, enabling us to better serve clinicians and
patients, said Sverre Flatby, CSAM CEO. – Arcid has an impressive reputation for delivering
efficiency, quality, and exceptional patient care with their niche software solutions, and we are
pleased they have entrusted CSAM to carry on that tradition of excellence.

– I am confident that CSAM is the right home for Arcid’s team in this exciting growth period to
come, said Kåre-Bjørn Kongsnes, business developer and majority shareholder of Arcid. –
Integrating our highly competent team of people with CSAM, the leading Nordic niche player
within eHealth, strengthens this viable and powerful position.
The acquisition of Arcid is consistent with CSAM’s strategy to pursue growth through a
combination of strategic M&As and organic sales. The transaction is estimated to close before
the end of the month.

– Arcid’s products are an important complement to CSAM’s software solutions in the medical
imaging and connected healthcare domains, strengthening our leadership in these key market
segments, said Flatby. – The mixture of our customers, code and competencies will allow us to
provide even greater value to customers across both public and private healthcare
organisations.

CSAM has been a leading provider of medical imaging and connected healthcare solutions in
the Nordics for more than a decade. The company works closely with healthcare professionals
and organisations to develop software solutions that deliver the highest value for their
operations.

About CSAM
CSAM has established itself as a leading Nordic niche player in the specialised eHealth market
with a unique blend of best-in-class innovative technology, and outstanding human skills. The
company’s diverse portfolio of software solutions enables healthcare providers to access
relevant clinical information at the point of care. CSAM’s commercial headquarters are located
in Oslo, Norway. In addition to the new offices in Tromsø, the company also has local offices in
Stockholm, Karlstad, Gothenburg, Helsinki, Oulu, Tampere, and Warwickshire, as well as a
wholly owned software engineering subsidiary in the Philippines.
A privately-owned company backed by strong financial partners, CSAM aspires to achieve
continued growth both organically and through selected mergers and acquisitions. For more
information, visit www.csamhealth.com.

For more information, please contact:
Sverre Flatby, CEO Jennifer Goode, Communications Director
sverre.flatby@csamhealth.com jennifer.goode@csamhealth.com
+47 9159 9159 +1-705-760-0782
Kåre-Bjørn Kongsnes, Business Developer
kb@kongsnes.no
+47 900 11 040

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Partners Group to invest in delivery of 500MW subsea interconnector between Great Britain and Ireland

Partners Group

Partners Group, the global private markets investment manager, has provided equity financing for the Greenlink Interconnector (“Greenlink”), a project to construct a 500MW subsea interconnector between Ireland and Great Britain, on behalf of its clients. To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.

Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain, improving the security of electricity supply in both countries and reducing average electricity costs for consumers. It will stretch approximately 200km underground and under the sea between County Wexford in Ireland and Pembrokeshire in Wales. The project is considered of critical importance in Europe and has been awarded “Project of Common Interest” status by the European Commission as well as granted funding from the EU’s Innovation and Networks Executive Agency. Construction is scheduled to commence in 2020 and is expected to be completed by 2023.

Esther Peiner, Managing Director, Private Infrastructure Europe, Partners Group, states: “Greenlink Interconnector is a key electricity infrastructure project for Ireland and Great Britain. With the build-out of renewable energy generation in both countries, particularly the growth of offshore wind, infrastructure like Greenlink is essential to facilitate the low carbon economy as it will allow surplus renewable power to be exported between the two countries. Once completed, this interconnector will not only benefit consumers in Great Britain and Ireland, but will also enhance security of supply.”

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