Category Archives: News

Republic Finance agrees to be acquired by a J.C. Flowers-led investor group

CVC Capital Partners

Republic Finance (“Republic” or the “Company”), a leading consumer loan provider, today announced that it has entered into a definitive agreement to be acquired by an investor group led by J.C. Flowers & Co. (“J.C. Flowers”), a private investment firm dedicated to investing in the global financial services industry, alongside Nowlake Technology, LLC (“Nowlake”). Funds advised by CVC Capital Partners (“CVC”), Republic’s majority owner, will exit its investment, while the Phillips family, which retained a significant shareholding under CVC’s ownership, will continue to hold an equity interest in the Company. Republic’s management team will continue to lead the Company. Terms of the transaction were not disclosed.

Republic has over 70 years of experience in the U.S. consumer finance sector, specializing in personal loans and flexible lending options tailored to individual needs. The Company has built long-lasting relationships with its customers based on its reputation for a customer-first approach and responsible lending while operating across 17 states.

“Republic is committed to offering fair and transparent products with a focus on regulatory compliance,” said Thomas Harding, Managing Director at J.C. Flowers. “That discipline, combined with a deeply experienced management team and a loyal customer base, makes Republic a compelling platform. We look forward to partnering with the Company and Nowlake to build on its strong foundation and accelerate its growth.”

“Over more than seven decades, our team has built Republic Finance into a trusted, well-run company serving hundreds of thousands of customers, and today’s announcement is a strong endorsement of that work,” said Ian Rehmert, President and CEO of Republic Finance. “We are grateful to CVC for their partnership and support over the years, and we are excited to begin this next chapter with J.C. Flowers and the Nowlake Group of Companies. Their financial strength, deep financial services expertise, and shared commitment to responsible, customer-first lending position us to keep serving our customers and growing our business for years to come.”

“It’s been a privilege to partner with the Phillips family and Republic’s management team and we are very proud of what we have collectively accomplished,” added Daniel Brand, Partner at CVC. “We wish Ian and his team all the best for this next phase of their growth journey.”

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It’s been a privilege to partner with the Phillips family and Republic’s management team and we are very proud of what we have collectively accomplished

Daniel BrandPartner at CVC

“We are excited to partner with JC Flowers to work with Republic Finance. Republic Finance has built a strong, respected platform with deep customer relationships and a great track record,” said Ian Anderson, Group President of Nowlake. “We see opportunity to bring technology, scale, and additional products from the Nowlake Group of Companies to help accelerate Republic’s next phase of growth alongside J.C. Flowers.”

The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.

Wells Fargo served as exclusive financial advisor and Debevoise & Plimpton LLP served as legal counsel to Republic Finance and CVC. BMO Capital Markets served as exclusive financial advisor and Sullivan & Cromwell LLP served as legal counsel to the investor group led by J.C. Flowers.

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CVC Credit leads the refinancing and merger of Kanalservice Gruppe and Group Sasti

CVC Capital Partners

CVC Credit is pleased to announce that it has led the refinancing and merger of Kanalservice Gruppe (“KSG”) and Grupo Sasti, to create a leading pan-European critical infrastructure services platform. CVC Credit acted as sole lender on the financing for funds advised by Ufenau Capital Partners and has structured committed follow-on capital to support KSG’s systematic buy-and-build strategy.

Established in 1958 and headquartered in Switzerland, KSG is a provider of critical infrastructure services, primarily focused on the water vertical. The company delivers end-to-end inspection, cleaning and maintenance services to more than 35,000 customers across corporates, municipalities and private households. KSG operates across Switzerland, Germany, the Netherlands, Belgium and the UK. Through its merger with Grupo Sasti, the company will expand its one-stop-shop offering into the Iberian market, further diversifying its geographic footprint and strengthening its service capabilities.

Christine Weis, Managing Director in CVC’s Private Credit team, said: “This transaction reflects our continued focus on backing resilient businesses with strong growth strategies. KSG benefits from highly predictable cash flows, underpinned by recurring demand for essential, non-discretionary infrastructure services and a large base of repeat customers. We are also pleased to partner with Ufenau Capital Partners again, a well-established sponsor we have successfully supported across previous transactions.”

Andrew Davies, Head of CVC Credit, added: “KSG operates in an attractive market characterised by resilient demand, recurring revenues and underlying growth drivers – this is exactly what we are looking for in our core mid-market senior direct lending strategy. Given our integrated platform, once again the private credit team leveraged the breadth of the CVC network to support our due diligence, including insights from our global infrastructure team.”

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Given our integrated platform, once again the private credit team leveraged the breadth of the CVC network to support our due diligence, including insights from our global infrastructure team

Andrew DaviesHead of CVC Credit

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

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Bain Capital Acquires Everllence, a Globally Leading Engine and Turbomachinery Manufacturer

BainCapital

FOR IMMEDIATE RELEASE

MUNICH – June 25, 2026 – Bain Capital, a leading global private investment firm, today announced that it has agreed to acquire a majority stake in Everllence, a globally leading developer and manufacturer of 2-stroke and 4-stroke marine and power engines and turbomachinery, from Volkswagen Group.

Everllence has approximately €5 billion in revenues and around 16,000 employees across its operations in Europe, Asia, and the Americas. It holds leading positions in each of its principal businesses, serving customers in global shipping, naval defense, power generation, and industrial processing, and maintains one of the most extensive aftermarket service networks in the sector, with more than 140 locations worldwide.

The transaction, led by Bain Capital’s Private Equity teams in Europe and Asia, is structured as a carve-out from Volkswagen Group, which will retain a shareholding in the company and remain a long-term partner.

Bain Capital will work closely with Everllence’s management team and Volkswagen to support the company’s next phase of growth. Specific areas of focus include expanding the company’s service business with its global installed customer base; investing in the company’s growing role in naval defense, where demand across Europe and beyond is accelerating; supporting the continued development of alternative fuel platforms for the decarbonization of global shipping; and capturing the significant opportunity in behind-the-meter power generation for data centers and industrial infrastructure.

Bain Capital brings global industrial sector expertise and a wide operational support network to that effort, with a focus on creating lasting impact for Everllence’s customers, employees, and the communities it has long served.

The transaction is subject to regulatory approvals and customary closing conditions. Financial terms of the transaction were not disclosed.

“At Bain Capital, we have always believed that the right partnership is how exceptional outcomes are created. We invest in people as much as companies, and we take a long view. Under Volkswagen’s ownership, Everllence has developed into a global platform with a strong management team and a clear vision for where it is headed. We are glad to be working alongside them to help realize that vision,” said Dr. Michael Siefke, a Partner and Chair of Europe Private Equity at Bain Capital.

“We believe in Everllence as a global technology leader in maritime decarbonization, naval defense, and distributed industrial power. Everllence is uniquely positioned to enable energy transition in global seaborne trade and address increasing power needs from accelerating data center energy demand. Its products and services are supporting customers globally at the core of their operations. We are excited to partner with the team on the journey ahead,” said Florian Taufmann, a Partner at Bain Capital.

ENDS

About Everllence

Everllence is the world’s leading developer and manufacturer of 2-stroke and 4-stroke marine and power engines and turbomachinery, with revenues of approximately €5 billion and around 16,000 employees globally. The company serves customers across marine, naval, power generation and industrial end markets through a network of manufacturing facilities and more than 140 service locations worldwide. Everllence is headquartered in Europe and operates globally.

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. We have 24 offices on four continents, more than 2,000 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

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CVC Capital Partners invests in Chess

CVC Capital Partners

CVC, one of the world’s leading private markets investment firms, with deep expertise investing in sports, video games and other community platforms, today announced that CVC Capital Partners IX (“Fund IX”) has agreed to invest in Chess.com, the world’s largest online chess platform. CVC joins longstanding investor General Atlantic, which will remain a shareholder, as Chess.com continues to expand its platform and strengthen its offerings for the global chess community.

Chess.com is the largest chess community in the world, with over 250 million members worldwide and 10 million daily active users. Its mission is to serve the global chess community by making the game accessible, enjoyable and rewarding for players of every level. Chess.com offers its members live play, game analysis, puzzles, and lessons, alongside live coverage of major tournaments, a thriving social community, and a library of courses.

With over 650 team members, Chess.com operates as a fully remote organization. Its growth has been exponential in recent years, driven by major cultural moments such as The Queen’s Gambit, an extensive creator community, and viral social media moments that have inspired millions of new people to try chess for the first time. Through every chapter of its growth, Chess.com’s mission has remained consistent: to be a steward of the game loved across the world.

Erik Allebest, Founder and CEO of Chess.com, said:

“Twenty years ago we set out to build a space for people who love chess. We see CVC as an incredible partner, who alongside General Atlantic, can help us continue driving this same mission into our third decade. Chess belongs to billions of people around the world. Our job is to keep building something worthy of their trust and support.”

Nick Clarry, Managing Partner and Head of Sports, Media & Entertainment at CVC, said:

“Chess is a game loved by many people and culturally important to many communities around the world. It is a privilege to join Erik and the team at Chess.com as custodians for this special game as they continue their journey to improve the platform for players and fans worldwide. CVC has built an appreciation of and relevant experience as investors in global community platforms over the last 25 years – in sports, video games and live events – that we look forward to contributing to the future success of Chess.com.”

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It is a privilege to join Erik and the team at Chess.com as custodians for this special game as they continue their journey to improve the platform for players and fans worldwide

Nick ClarryManaging Partner and Head of Sports, Media & Entertainment at CVC

Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology at General Atlantic, said:

“Over more than four years of partnership together, our conviction in Chess.com has only deepened. Erik and the team’s genuine love of the game has helped grow an engaged global community, and we believe there is substantial opportunity ahead to continue delivering creative experiences to more players around the world. We are proud to support Chess.com’s mission and look forward to partnering with CVC as the company builds on its momentum.”

CVC brings deep experience in online entertainment and live events, from digital subscription platforms to major international sports leagues, and will work with the Chess.com team to keep improving the product and growing the game’s presence on the world stage. Their expertise in live events, media rights, and sponsorship opens real possibilities for chess to reach audiences it hasn’t reached yet.

General Atlantic has been a partner to Chess.com since 2022, knows the business extensively, and will continue to be invested in its success. Together with Erik and the Chess.com leadership team, this group is committed to building something that the chess community can continue to be proud of, for many years to come.

Goldman Sachs served as the exclusive financial advisor to Chess.com. Terms of the transaction were not disclosed.

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CapMan Real Estate completes Scandinavia’s largest integrated solar roof at Stationsparken, Glostrup

Capman

Stationsparken - Solar Roof after

CapMan Real Estate announces the completion of the landmark solar roof project at Stationsparken in Glostrup, Denmark — marking the final step in a large-scale transformation that positions the property at the forefront of renewable energy solutions in the Nordics.

The project replaces the building’s aging roof with 10,500 fully active integrated solar panels across 7,500 m², creating Scandinavia’s largest integrated solar roof of its kind. Unlike traditional addon panels, the new system is seamlessly built into the roof structure, preserving the building’s architectural integrity while significantly boosting its environmental performance.

A futureproof investment for long-term energy efficiency

The integrated solar roof will generate approximately 589,000 kWh of renewable electricity annually, covering over 60% of the building’s electricity demand. As a result, Stationsparken is expected to reduce its carbon emissions by 82 tonnes per year, equivalent to 3,300 tonnes of CO₂ over the system’s 40-year lifespan.

The investment also significantly enhances the property’s energy performance, improving its EPC rating from B to A and reducing total primary energy demand by 37%.

Financially, the project delivers strong returns by reducing annual operating expenses, positioning the asset as both environmentally and economically resilient.

Collaboration across the value chain

The solar roof project was delivered in partnership with Solar Lightning Consultants, Solartag, WERK Arkitekter, and Hovedstadens Bygningsentreprise, with close engagement from the Municipality of Glostrup and key public-sector tenants.

All solar panels and inverters were manufactured in Europe to support high quality standards and safeguard supply chain responsibility.

“From the beginning, this project has been a model of constructive cooperation between the municipality, CapMan, and all partners involved. We are proud to see such an ambitious renewable energy solution implemented right here in Glostrup,” says Søren Enemark, Chairman of the Environment, Technology, and Property Committee at Glostrup Municipality.

The installation process was executed across six phases, ensuring uninterrupted operations for tenants throughout the construction period.

A milestone for Nordic real estate

“Stationsparken proves that sustainability and strong returns can coexist,” says Anna Rannisto, Sustainability Director at CapMan Real Estate. “By integrating solar technology into the building’s design, we’ve secured long-term energy independence and reduced emissions – without compromising aesthetics or financial performance.”

“Completing the integrated solar roof at Stationsparken is a milestone not only for the asset, but for how we approach sustainable upgrades across our portfolio. The team has delivered a highly technical project with precision, all while maintaining full tenant operations. It shows what’s possible when innovation, engineering excellence, and long-term asset planning come together,” says Peter Gill, Head of CapMan Real Estate Denmark

The completion of the solar roof marks the final milestone in CapMan Real Estate’s ambition to future‑proof Stationsparken and showcase how the Nordic real estate sector can lead the transition to renewable energy.

For more information:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, +45 20 43 55 63

About CapMan

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

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CapMan Infra announces first close of Nordic Infrastructure III fund

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CapMan Infra announces first close of Nordic Infrastructure III fund

CapMan Nordic Infrastructure III, the third vehicle in CapMan Infra’s Nordic infrastructure fund series, held its first close on 24 June 2026. The Fund has a target size of EUR 750 million and is on track to reach a final close during 2027, supported by existing and new investors, both from within and outside the Nordics.

The strategy of CapMan Nordic Infrastructure III is to invest in lower mid-cap infrastructure businesses and assets across the Nordics, focusing on energy and utilities, transportation, and digital infrastructure. Classified as an SFDR Article 8 product, the Fund targets infrastructure assets that provide essential services and benefit from long-term structural trends, including the energy transition, digitalisation and the need for more resilient societies.

With a target size of EUR 750 million, the Fund is set to be CapMan Infra’s largest infrastructure fund to date and twice the size of its predecessor, CapMan Nordic Infrastructure II, which closed at EUR 375 million.

The Fund’s first close was supported by more than 20 institutional investors, with around one third of commitments coming from outside the Nordics. This share is expected to increase significantly in later closings as international investor interest towards a Nordic infrastructure strategy executed by an experienced local team remains high. Around two thirds of commitments are coming from German and Finnish pension institutions.

Several first closing investors have also reserved capacity for further commitments as fundraising progresses, providing positive momentum towards the Fund’s final close. With a strong pipeline of opportunities across its target sectors, the Fund is well positioned to make its first investments during 2026.

“CapMan Nordic Infrastructure III builds on our established Nordic infrastructure fund series. We are pleased by the support from both existing and new investors at the first close and are confident in the Fund’s progress towards a final close at its target size. The Nordic infrastructure market continues to offer attractive opportunities that benefit from structural trends, and the Fund is well positioned to deploy capital during 2026,” says Ville Poukka, Managing Partner at CapMan Infra.

For more information:

Ville Poukka, Managing Partner, CapMan Infra, +358 50 572 9120

About CapMan

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

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padoa Announces Strategic Growth Investment from Thoma Bravo’s Europe Fund Alongside Co-Founders and Existing Shareholders, Five Arrows and Kamet Ventures

Thomabravo

PARIS, France – padoa, the European leader in occupational health, safety and prevention software, today announced a strategic growth investment from Thoma Bravo, the world’s largest software-focused investment firm. The investment is being made through Thoma Bravo’s Europe Fund, with significant participation from padoa’s co-founders and existing shareholders Five Arrows, the alternative assets arm of Rothschild & Co, and Kamet Ventures.

padoa is one of the leading next-generation prevention platforms dedicated to occupational health centres, employers, and employees. Its products enable more effective service delivery, health prevention, and compliance amid increasing structural and regulatory requirements.

This investment is designed to accelerate padoa’s mission to improve the health of millions of people and enable padoa to further invest in AI capabilities, customer service, international expansion, particularly in the DACH region, and product innovation.

Cédric Mathorel, Co-Founder, President and CEO of padoa, said: “We are excited to welcome Thoma Bravo as a new partner at a pivotal moment in padoa’s journey. As we accelerate our international expansion and navigate one of the most significant technological shifts our industry has ever experienced with the emergence of AI, we believe Thoma Bravo’s expertise will help us scale faster, innovate further, and continue delivering category-leading software to occupational health professionals across Europe.

At the same time, this new chapter is built on continuity. I would like to sincerely thank Five Arrows and Kamet for their unwavering support over the years and for renewing their confidence in padoa by continuing this adventure alongside us. Their commitment, together with our founders and management team, reflects a shared conviction in the strength of our mission and our long-term vision.”

Irina Hemmers, Partner, and David Tse, Principal at Thoma Bravo, said: “padoa is a compelling addition to our European partnerships, and we see a significant opportunity to support the company as demand for better care and supportive technology accelerates across Europe. This strategic growth investment reflects our continued commitment to backing the strongest software companies in the region and supporting them in becoming European champions.”

Stéphane Guinet, Chairman of Kamet Ventures, said: “As venture builders, we are incredibly proud to have conceived, incubated, and helped scale padoa alongside its outstanding founding team from day one. Having established itself as a leading technology platform for occupational health, padoa is exceptionally well positioned for its next chapter. We are more excited than ever about the company’s future and delighted to partner with Thoma Bravo to support its continued growth and ambition.”

Jean-Daniel Bertoncini, Partner at Five Arrows, added: “We are proud to have supported padoa’s talented founders and team through an exceptional growth journey over the past four years. We are strong believers in padoa’s mission to enable occupational health professionals to protect workers’ well-being through technology solutions that are both effective and easy to use. We are excited to partner with Thoma Bravo to fuel padoa’s ambition of bringing world-class AI into occupational health centres.”

Thoma Bravo has been investing in Europe for 15 years, having deployed over €14 billion of equity across 17 transactions in the region. Its dedicated €1.8 billion Europe Fund, which closed in 2025, focuses on middle-market software businesses across core European markets, with the goal of supporting founders and management teams in scaling their businesses into European industry leaders. Since 2023, the European team has made four investments across the Netherlands, Germany and Sweden, including the €400m take-private of EQS Group and growth investments in USU, Hypergene and LOGEX.

About padoa

Founded in 2016, padoa is a leading occupational health technology platform in France, serving occupational health services, healthcare professionals, employers, and employees through a fully integrated digital ecosystem. The company’s mission is to equip occupational health professionals with the best technology, enabling better prevention, improved care pathways, and healthier workplaces. Today, padoa supports millions of employees and thousands of healthcare professionals, helping transform occupational health through innovation, efficiency, and collaboration. Guided by a strong purpose and values-driven culture, padoa is committed to shaping the future of occupational health in France and across Europe. Learn more at padoa.fr.

About Thoma Bravo

Thoma Bravo is the world’s largest software-focused investment firm, with more than $172 billion in assets under management as of March 31, 2026. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in approximately 590 software and technology companies, representing approximately $320 billion of aggregate enterprise value (including control and non-control investments, as well as add-on acquisitions).  Learn more at thomabravo.com and on LinkedIn.

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has €33 billion in assets under management1, with offices in Paris, London, New York, Los Angeles, San Francisco, and Luxembourg.

With €13 billion of assets under management1, the corporate private equity business of Five Arrows is focused on investing in companies with strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to healthcare, data and software, and technology-enabled business services.

For more information, please visit https://www.rothschildandco.com/en/five-arrows/corporate-private-equity/

Five Arrows Managers (USA) LLC is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Five Arrows Managers (USA) LLC, including our investment strategies, fees and objectives is available upon request.

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Main Capital Partners closes landmark €5.25bn dual fundraise in under six months

Main Capital Partners

Main Capital Partners, a specialized European Enterprise Software investor, announces today that Main Capital IX and Main Foundation III have together closed over €5.25 billion in commitments, marking the largest private equity buyout fundraising initiative ever in the Netherlands.

  • Main Capital IX and Main Foundation III have secured €5.25 billion in commitments in the final closing, reaching their hard caps of €4 billion and €1.25 billion, respectively, and marking the largest private equity buyout fundraising initiative ever in the Netherlands.
  • The two funds represent a more than twofold increase over predecessor funds Main Capital VIII and Main Foundation II and increase Main’s total Assets under Management to over €12 billion.
  • Main’s existing LP base demonstrated strong continued conviction, reflected in a re-up rate exceeding 120%.
  • With these new funds, Main plans to expand into the United Kingdom, alongside its core markets in the Benelux, DACH, Nordics, France, and North America.
  • The level of investor commitments highlights Main’s ability to capture AI-driven growth opportunities in the Enterprise Software industry, supported by the firm’s consistent performance and more than 20 years of lower mid-market specialization, despite a challenging fundraising and geopolitical environment.

The Hague, June 24, 2026 – Main Capital Partners, a specialized European Enterprise Software investor, announces today that Main Capital IX and Main Foundation III have together closed over €5.25 billion in commitments. Main Capital IX closed at a hard cap of €4 billion and Main Foundation III reached a hard cap of €1.25 billion, together representing a more than twofold increase over their predecessor funds and increasing Main’s total Assets under Management to over €12 billion. Both funds were oversubscribed, reflecting sustained and growing investor demand for Main’s highly differentiated lower mid-market Enterprise Software strategy.

In line with prior fundraises, Main received continued support from its existing LP base, with a re-up rate exceeding 120%. Alongside re-ups from existing investors such as Hamilton Lane, both funds also attracted meaningful new commitments from a broadened global institutional investor base. New investors primarily came from the United States, Asia, and the Middle East, and comprised sovereign wealth funds, public pension funds, and insurance companies, including reputable names such as the State Teachers’ Retirement System of Ohio, the Korean Teachers’ Credit Union, and AkademikerPension. The pace and scale of commitments secured, despite a continued challenging fundraising environment and geopolitical tensions, reflect Main’s consistently strong investment performance and its more than 20-year specialization in lower mid-market Enterprise Software buyouts. Over the course of its history, Main has realized 38 exits with a weighted average gross return of 4.7x and a loss rate well below 0.5%.

Main will continue to execute on its proven lower mid-market Enterprise Software strategy, investing equity tickets between €5 and €150 million in profitable, resilient software businesses and building these into larger, scalable cross-border software groups through a combination of organic growth and targeted M&A. Main will maintain its deep focus on its core geographies — Benelux, DACH, the Nordics, France, and North America — and, as a meaningful strategic expansion, will begin actively pursuing platform investments in the United Kingdom with these new funds. The UK represents one of Europe’s most dynamic and mature Enterprise Software markets, and Main’s local operational model and sector expertise position it well to build lasting relationships with software founders and entrepreneurs in that market.

Main is acutely focused on the profound transformation that artificial intelligence is bringing to the Enterprise Software industry. AI is rapidly reshaping how software is built, sold, and scaled, creating a new frontier of growth opportunities across Main’s core product-markets, from HealthTech and GovTech to Infrastructure and PropTech. Main’s proprietary Market Intelligence & Performance Excellence capabilities, combined with an active portfolio of over 55 Enterprise Software companies, position the firm well to identify where AI is generating durable value and to support portfolio companies in embedding AI into their products and operations. Main believes that the convergence of consolidation dynamics and AI-driven innovation makes the current environment one of the most compelling for Enterprise Software investing in the firm’s two-decade history.

We believe AI is unlocking a new wave of growth and value creation opportunities, and Main’s deep sector expertise, proprietary data capabilities, and disciplined operational approach position the firm well to capture this opportunity for our portfolio companies and our investors alike.”

– Charly Zwemstra, Founder and Chief Investment Officer at Main

Charly Zwemstra, Founder and Chief Investment Officer at Main, said: “Main was among the first movers in European software buyouts, and for more than two decades we have built an unrivalled track record of creating larger, more resilient software groups from the lower mid-market. Securing commitments for Main Capital IX and Main Foundation III of over €5 billion is a powerful validation of our strategy and of the enduring trust that our LP base places in us. We stand at an inflection point for the Enterprise Software industry: we believe AI is unlocking a new wave of growth and value creation opportunities, and Main’s deep sector expertise, proprietary data capabilities, and disciplined operational approach position the firm well to capture this opportunity for our portfolio companies and our investors alike.”

Jorn de Ruijter, Partner and Head of Fund Structuring & Investor Relations at Main, said: “The speed and scale at which we secured over €5 billion in commitments, surpassing our prior combined fundraise more than twofold, is a direct testament to Main’s long-term investment performance and the depth of our LP relationships. A re-up rate of more than 120% is something we are truly proud of; it reflects not just confidence in our track record, but genuine conviction in what we are building at Main. We are grateful to both our existing and new investors for their trust. With Main Capital IX and Main Foundation III, we are well-equipped to continue driving the consolidation in the fragmented European & US software markets, to expand into the United Kingdom, and to pursue the opportunities that AI is creating across the Enterprise Software industry.”

Main did not use a placement agent for the fundraising and Loyens & Loeff acted as legal counsel.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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EQT Life Sciences participates in RQ Bio’s USD 115 million Series A financing

EQT Life Science

RQ Bio

  • EQT Life Sciences joins new investors Frazier Life Sciences, Forbion, Monograph and Wellington Management, alongside existing investors LifeArc, Oxford Science Enterprises and Oxford University Innovation, in RQ Bio’s oversubscribed USD 115 million Series A financing 
  • RQ Bio is developing antibody therapies to prevent seasonal influenza in high-risk and immunocompromised populations, with the Series A supporting its clinical progression and broader infectious disease pipeline
  • As part of the financing, RQ Bio appointed Christian S. Schade as Executive Chairman, having most recently served as President and CEO of Halda Therapeutics

EQT Life Sciences is pleased to announce participation in a USD 115 million (GBP 86 million) Series A financing in RQ Bio, a UK biotechnology company developing antibody therapies for the prevention of influenza in high-risk and immunocompromised populations through one of its managed funds. The financing was led by Frazier Life Sciences, with participation from new investors EQT Life Sciences, Forbion, Monograph and Wellington Management, alongside existing investors LifeArc, Oxford Science Enterprises and Oxford University Innovation. The Series A funding will support the clinical development of RQ Bio’s lead program, RQB01, and help advance the company’s broader pipeline of therapies for other infectious diseases. 

Founded in 2021 by four leading infectious disease scientists, RQ Bio is developing new antibody therapies that aim to protect people from seasonal flu for an entire season with just one treatment. The company’s lead programme is progressing towards clinical development and is intended to provide broad protection for high-risk patients, including those who remain vulnerable despite existing vaccination strategies.

EQT Life Sciences will support RQ Bio as it advances RQB01, its lead programme towards the clinic and continues to expand its broader pipeline. Drawing on its experience backing innovative biotechnology companies through clinical development, EQT Life Sciences will work alongside management and the investor syndicate to help scale the organisation, strengthen development capabilities and support the company’s long-term growth.

Felice Verduyn – van Weegen, Partner at EQT Life Sciences, said: “Influenza continues to pose a significant burden for high-risk populations, despite the availability of existing treatments. RQ Bio’s single-administration approach to durable, season-long protection addresses a clear unmet need among the patients who remain most vulnerable. We are excited to support this European company as it advances towards the clinic and expands its pipeline.”

Mike Westby, CEO of RQ Bio, said: “Influenza remains a serious and persistent threat for patients whose immune systems cannot rely on vaccination alone. Our vision is to develop a preventative therapy capable of delivering reliable protection for an entire flu season with a single administration. This financing will support clinical development of RQB01 as well as advance our proprietary antibody discovery approach towards a pipeline of assets for prophylaxis of respiratory viral diseases.”

As part of the financing, RQ Bio appointed Christian S. Schade as Executive Chairman, who most recently served as President and CEO of Halda Therapeutics that was acquired by Johnson & Johnson for USD 3.0 billion in December 2025. He brings extensive leadership, board and transaction experience from across the biotechnology sector. As Executive Chairman, he will work closely with the management team and Board of Directors to guide corporate strategy and support the Company’s continued growth.

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EQT Press Office,
press@eqtpartners.com

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About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.

More information: https://eqtgroup.com/private-capital/eqt-life-sciences

 

About RQ Bio 
RQ Bio is a UK-based biotechnology company developing long-acting monoclonal antibodies against seasonal influenza with the goal of providing immediate, powerful, and long-lasting protection against severe viral disease in immunocompromised and high-risk subjects. The Company is advancing its lead product RQB01; a long-acting, potent, and broadly protective dual monoclonal antibody product through IND-enabling studies.

Founded in 2021, RQ Bio has a highly experienced team with proven success in developing long-acting antibodies against viral targets. RQ Bio is backed by a strong syndicate of specialist investors – Frazier Life Sciences, EQT Life Sciences, Monograph, Wellington, Forbion, LifeArc, Oxford Science Enterprises and Oxford University Innovation.

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The New Salary.com Launches Max: Autonomous Agents and Real-Time Market Intelligence for the AI Era of Compensation Management

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WALTHAM, Mass., March 31, 2026 (GLOBE NEWSWIRE) — Salary.com,  the global leader in compensation data, software, and AI, unveiled a new brand identity alongside its new Max model, a purpose-built AI that brings autonomous agents and real-time market intelligence into compensation workflows. Built on Salary.com’s proprietary ontology, Max understands compensation data in context, delivering actionable, trustworthy intelligence for confident pay decisions. Max is the latest innovation in the CompAnalyst® AI Suite.

Founded in 1999, Salary.com built its reputation on structured compensation data and the CompAnalyst platform, which today supports more than 10,000 organizations in benchmarking jobs, building pay structures, managing merit increases, and more. Over nearly three decades, the company has expanded from a market data provider to enterprise-grade AI software, equipping HR and compensation professionals with autonomous agents, seamless integrations, and real-time market intelligence built for how comp teams actually work.

“AI is fundamentally shifting how organizations approach compensation. It’s not just changing how the work gets done — it’s doing the work itself. Companies that embrace this shift will make better, more timely pay decisions and build businesses that last,” said Yong Zhang, Chairman and CEO of Salary.com. “With 27 years of compensation data, technology, and expertise behind us, Max turns that depth into an advantage our customers can feel every day — autonomous agents that don’t just surface insights but execute complex tasks.”

Salary.com’s new brand identity reflects this evolution, and a broader vision for AI-powered compensation software and autonomous agents. The company’s mission hasn’t changed, but Max represents a fundamentally new way of delivering on it. Built on Salary.com’s proprietary ontology, Max connects salary surveys, aggregated market data, job posting signals, and enterprise software into a single intelligence layer that’s as actionable as it is insightful. Agents automate pre- and post-planning analysis, identify compression risks before a cycle begins, and generate practical narratives for HR leaders and managers — turning what used to take weeks of manual reconciliation into streamlined AI-driven workflows.

“Real-time intelligence isn’t optional for compensation professionals anymore, but too many decisions are still being made on stale data across disconnected sources,” said Chris Knize, SVP of Products at Salary.com. “The Max model changes that by bringing real-time, context-aware market intelligence directly into the workflows and benchmarking practices compensation professionals rely on every day. Unlike generic AI tools or text-analysis models that simply surface trends, Max understands the context — why one role is scoped differently than another, or why a competitor’s job posting may signal a pay adjustment before the next survey cycle. Our purpose-built AI doesn’t just inform decisions; it helps drive them.”

Max represents the beginning, not the destination. Salary.com’s roadmap extends the same AI foundation that has driven 27 years of innovation across the full compensation lifecycle. The vision is a single platform where every compensation decision is informed by the same connected ontology.

Compensation teams have long struggled with a fragmented, time-consuming process — jumping between multiple tools to gather market data, manually matching jobs, and still lacking confidence that their comparisons are accurate. Max eliminates that friction. What once took half a day can now be completed in minutes — with greater accuracy and defensibility.

“The CompAnalyst AI Suite is proving to be a valuable planning resource,” said Alma Sosa, Compensation Business Partner at Omaha Steaks. “It enables our team to work more efficiently and make more informed decisions, giving me confidence that Salary.com will continue to be a trusted partner as we improve how we approach compensation management.”

Rather than forcing compensation professionals to constantly catch up to a shifting market, the CompAnalyst AI Suite and the Max model are designed to keep them ahead of it.

About Salary.com

Founded in 1999, Salary.com helps organizations get pay right with a complete approach to compensation management. Built on a proprietary job ontology, Salary.com delivers AI software, data, and services that enable companies to define roles, benchmark jobs, manage pay structures, and make pay decisions built to last. More than 10,000 customers worldwide trust Salary.com, with insights powered by over 30,000 organizations across 140+ countries and spanning more than 20,000 leveled job titles.

Combining pragmatic innovation in artificial intelligence with deep human expertise, Salary.com helps organizations make precise pay decisions, build trust with employees, and compete in a changing world. For more information, visit www.salary.com

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