Category Archives: News

Transparity acquires Xpedition, combining two of the UK’s leading Microsoft partners

Bowmark

Bowmark-backed Transparity, a leading Microsoft technology partner, has announced the acquisition of Xpedition, a specialist in Microsoft Dynamics.

 

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The combination brings together more than 350 technical experts, delivering end-to-end capability across all six of Microsoft’s solution designations (Business Applications, Data and AI, Digital and App Innovation, Infrastructure, Security and Modern Work). The acquisition enhances the expertise, resources and capacity of the group, enabling it to better support its clients in driving digital transformation and leveraging new technologies.

Paul Bolt, CEO of Transparity, said: “This is a defining moment for our business, Microsoft and our customers. We are on the cusp of a golden era for Dynamics – modular, agent driven, integrated across the stack with a compelling licensing model to support it. By uniting our strengths, we can help organisations harness the AI-powered future of CRM and ERP, creating a Microsoft powerhouse that can deliver transformation at scale and help businesses unlock the full potential of the Microsoft cloud.”

Dean Carroll, CEO of Xpedition, added: “Joining forces with Transparity accelerates our shared vision to lead in an AI-first world. Together, we will combine our strengths, expand our reach, and continue delivering exceptional outcomes for Microsoft and our customers, while preserving the culture and expertise that make us unique.”

 

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Novacap Invests in TAG Towers to Accelerate its Tower Development Strategy

Novacap

Novacap, a leading North American private equity firm, is pleased to announce it has entered into a partnership with TAG Towers (“TAG”), a Kentucky-based developer and operator of wireless tower infrastructure. TAG is the fifth platform investment by Novacap’s Digital Infrastructure sector.

Founded in 2008 by a group of wireless industry professionals, TAG is a developer and operator of wireless tower infrastructure with a strong presence in the Midwest region of the United States.

“TAG’s strong execution track record makes them a natural fit for our digital infrastructure portfolio. We’re proud to support their next phase of growth as demand for wireless infrastructure continues to surge,” says Ted Mocarski, Senior Partner, Head of Digital Infrastructure at Novacap.

“With Novacap’s backing and expertise, we can effectively scale our operations and continue delivering high-quality wireless tower assets to support America’s 5G future,” says David Ginter, Co-Founder & President of TAG Towers.

Fasken Martineau Dumoulin LLP served as legal advisor to Novacap. SteelTree Partners, LLC served as financial advisor to TAG and Smith, Gambrell & Russell, LLP served as its legal advisor.

About TAG Towers

TAG Towers is a leading provider of wireless tower infrastructure based in Richmond, Kentucky. With more than 30 years of industry experience, TAG’s management team delivers tailored solutions to national wireless service providers through the design, construction and leasing management of wireless tower assets in the Midwest region of the United States. For more information, please visit: tagtowers.com

About Novacap

Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

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Cinven to acquire Universidad Alfonso X el Sabio Group from CVC Funds

CVC Capital Partners

International private equity firm, Cinven, today announces that it has agreed to partner with founder, Jesús Núñez, and Mubadala Investment Company, to acquire a majority stake in Universidad Alfonso X el Sabio Group (‘UAX’ or ‘the Group’), a leading private higher education platform in Spain, from CVC Funds. Jesús Núñez and the management team will reinvest in UAX. Financial details of the transaction were not disclosed.

The Group began with the founding of UAX in Madrid in 1993. Today, UAX is a leading education group in Spain known for its strong commitment to academic excellence, innovation, and practical, career-oriented education. Headquartered in Madrid, UAX offers a wide range of undergraduate, postgraduate and technical vocation programmes across disciplines including health sciences, engineering, business, education and arts, which are delivered both online and face to face.

With a focus on differential learning and digital transformation, UAX blends traditional academic values with cutting-edge technology and top-tier corporate partnerships to prepare students for success in an increasingly interconnected world. Its hands-on learning model, industry-aligned curricula, and close collaboration with leading companies ensure that graduates are well-equipped with the skills and experience demanded by today’s job market.

CVC Funds invested in UAX in 2019 alongside the founding family. Over the last 6 years, UAX has been transformed into a professional and scalable higher education platform. This has been achieved through a focus on academic excellence and research, as well as enhanced student experiences and campus services. UAX has established deep corporate partnerships to support employability and invested more than €350m to enhance and expand facilities, including new campuses in Madrid and Málaga. The Group has also expanded to offer new technical vocation and lifelong learning postgraduate programmes, has developed a renewed and technology-driven academic proposal for Business & Tech and has signed flagship partnerships agreements with Rafa Nadal and LaLiga in the sports segment. As a result, total student numbers have increased from 8k to 35k, representing a 23% CAGR.

In partnership with UAX’s founder, Jesús Núñez, Cinven is committed to supporting UAX in its next phase of growth, with the ambition to become a benchmark for excellence in the private university sector, both in Spain and internationally.

Cinven’s Iberia Regional team and Business Services Sector team worked closely together to identify UAX as a compelling investment opportunity, underpinned by a number of attractive characteristics, including:

  • Its strong position in the structurally growing and resilient Spanish private higher education market, which is showing attractive growth, underpinned by sustainable demand from favourable demographics, international student flows and rising demand for upskilling and lifelong learning;
  • The opportunity to invest alongside a proven and dynamic founder, with a strong track record of building and scaling the business and a commitment to shaping a next-generation private education group, rooted in academic excellence and innovation;
  • Its strong foundation and brand recognition across the different fields of study it offers, with a unique heritage in health science;
    Its attractive growth potential, including through new campus openings in Spain and expansion into new international markets;
  • Multiple levers for growth, including capitalising on existing strengths, particularly within the health, business and tech segments, harnessing emerging capabilities from new campus openings, and exploring untapped opportunities; and
  • Its high quality management team, which has a strong track record of delivering value creation.

Jesús Núñez, Founder of UAX commented:

“UAX is committed to delivering a world-class educational experience that prioritises student outcomes, satisfaction and engagement, within the Spanish higher education sector. We are thankful for CVC having supported UAX in its transformation into a professionalised educational platform. Its continued strategic support and engagement over the last 6 years has allowed UAX to lead the growth and innovation of the private higher education in Spain. We are delighted to have Cinven’s support to accelerate our shared strategic ambitions, expand our academic offering, and continue to place students at the heart of everything we do. Together, we look forward to driving UAX’s growth and strengthening our position as a leading university, both in Spain and internationally.”

The transaction is subject to regulatory approvals and other customary closing conditions.

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CVC Credit supports the acquisition of Rentokil Workwear France by H.I.G. Capital

CVC Capital Partners

CVC Credit is pleased to announce that it has provided a bespoke financing solution to H.I.G. Capital (“H.I.G.”) to support its carveout of the Rentokil Workwear France business (“the Company”), a leading textile rental and cleaning provider, from Rentokil Initial plc.

Headquartered in France, Rentokil Workwear France is a leading provider of full-cycle textile services, specialising in the design, rental, and laundry/repair of workwear, flat linen and hygiene solutions. It combines scale, service quality and sustainability to deliver mission-critical services across 34 sites and a nationwide logistics network. The Company serves over 21,000 customers across diverse industries through long-term subscription contracts, with high levels of customer retention.

This investment has been made through CVC Credit’s European Direct Lending strategy, which lends to established European medium and large companies, with a focus on the senior secured piece of the capital structure. Earlier this month, CVC Credit announced it had completed the final close of its fourth fund for its European Direct Lending platform, which raised more than €10bn1 to deploy across the European Direct Lending opportunity.

Eva Boutillier, Managing Director at CVC Credit, commented: “Rentokil Workwear France is one of the French market leaders in a highly consolidated sector and has delivered consistent financial performance driven by its recurring business model and limited customer churn. We are grateful to our colleagues across the CVC Network who supported our assessment of the opportunity. We look forward to supporting the continued growth of Rentokil Workwear France under the guidance of the team at H.I.G.”

Quotes

Rentokil Workwear France is one of the French market leaders in a highly consolidated sector and has delivered consistent financial performance driven by its recurring business model and limited customer churn.

Eva BoutillierManaging Director at CVC Credit

Andrew Davies, Managing Partner and Head of CVC Credit, said: “We are delighted to close this latest transaction for the European Direct Lending strategy, continuing the strong momentum from our recent successful fund close.”

1Taken together with parallel investment funds and accounts

Categories: News

CVC announces sale of majority of CVC Capital Partners VII’s stake in Tipico to Banijay Group

CVC Capital Partners

VC, one of the world’s leading private markets investment firms, today announced the signing of a binding agreement to sell a majority of CVC Capital Partners VII’s stake in Tipico Group (“Tipico”), the leading sports betting and online gaming operator in Germany and Austria, to Banijay Group (“Banijay”). The transaction will see Tipico combine with Betclic, establishing a new European champion in sports betting and online gaming under the Banijay Gaming umbrella.

The combination will unite two local champions, Betclic and Tipico, each with strong local roots and complementary strengths across Germany, Austria, France, Portugal, Poland, and Côte d’Ivoire. While Betclic and Tipico share an entrepreneurial mindset and strong cultural alignment, they will continue to operate with their own governance and autonomous management teams and will preserve their unique brands and their proprietary platforms.

CVC will remain invested as a minority shareholder alongside Banijay Group as well as Tipico’s and Betclic’s founders, reflecting a strong partnership and full alignment on future value creation.

Daniel Pindur, Managing Partner at CVC Capital Partners and Co-Head of CVC DACH, said: “Since our investment in Tipico, we have worked closely with its founders and management to transform the company into the leading sports betting and gaming operator in the DACH region, with scale, innovation and a strong position in regulated markets. The combination with Betclic is the natural next step in this growth story, uniting two market leaders with complementary strengths to create a European champion. We are proud of what has been achieved together and look forward to supporting the new group as it enters its next phase.”

Quotes

Since our investment in Tipico, we have worked closely with its founders and management to transform the company into the leading sports betting and gaming operator in the DACH region, with scale, innovation and a strong position in regulated markets

Daniel PindurManaging Partner at CVC Capital Partners and Co-Head of CVC DACH

The proposed transaction is subject to customary conditions precedent, in particular merger control and gambling regulations approvals, and is expected to close by mid-2026.

The full transaction announcement can be viewed here.

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Aviva Ventures Completes Strategic Investment in Indico Data to Accelerate AI-Driven Insurance Automation

.406 Ventures

Boston, MA and London, UK – October, 28th, 2025, Indico Data, the leader in AI-powered automation for insurance operations, today announced a strategic investment from Aviva Ventures, the corporate venture capital fund for Aviva plc, one of the UK’s largest insurers. The investment reinforces Indico’s growing leadership in the London Market and its expanding adoption among global property and casualty carriers.

 

As part of the investment, Arslan Hannani, Chief Innovation Officer at Aviva, will join Indico’s Board of Directors as a Board Observer and Advisor.

 

“This partnership underscores the increasing demand for intelligent automation that transforms how insurers handle the critical ‘front door’ of their business, from submission ingestion to claims intake to policy servicing and beyond,” said Tom Wilde, CEO of Indico Data. “Aviva’s investment and Arslan’s participation on our board validate Indico’s vision for the agentic insurance enterprise and our mission to help carriers turn unstructured data into competitive advantage.”

 

Aviva Ventures invests in companies driving transformation across insurance and financial services through emerging technologies and new business models.

 

“Indico’s technology is reshaping how insurers operate by bringing AI deeper into core workflows,” said Arslan Hannani, Chief Innovation Officer at Aviva. “We’ve seen firsthand the impact Indico is having in streamlining operations and unlocking new efficiencies, particularly in complex markets like London and beyond. We’re excited to support its continued growth.”

 

This investment builds on Indico’s growing footprint among top global carriers, who leverage its Agentic AI platform to automate underwriting, claims, and operations processes that depend on unstructured data.  Aviva’s investment follows a strategic investment from Guidewire earlier in 2025.

 

About Indico Data

Indico Data is the leading provider of AI solutions that automate complex insurance operations by transforming unstructured data into actionable insights. Trusted by leading carriers across North America and the London Market, Indico’s Agentic AI platform enables insurers to streamline underwriting, claims, and policy operations while improving accuracy, speed, and compliance.
www.indicodata.ai

 

About Aviva Ventures

Aviva Ventures is the corporate venture capital fund for Aviva plc, one of the UK’s leading insurance, wealth, and retirement businesses. Aviva Ventures invests in early- and growth-stage companies driving innovation across insurance, financial services, and sustainability.
 www.aviva.com

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HUMAIN and Blackstone-backed AirTrunk announce partnership to build state-of-the-art data centers in the Kingdom of Saudi Arabia

Blackstone

AirTrunk, the leading data center platform in the Asia Pacific region, backed by the world’s largest alternative asset manager Blackstone, will mark its entry into the Middle East through a strategic partnership with HUMAIN
 
Riyadh, Saudi Arabia – 28 October 2025 – HUMAIN, a global artificial intelligence company based in the Kingdom of Saudi Arabia building end-to-end AI capabilities, and AirTrunk, the leading data center platform in the Asia Pacific region, have agreed to establish a strategic partnership to build data centers in the Kingdom of Saudi Arabia. The initial project involves an approximately US$3 billion investment for a data center campus in Saudi Arabia.

The partnership combines HUMAIN’s trusted reputation as the national AI champion with AirTrunk’s proven track record and operational expertise with key cloud and AI customers to advance Saudi Arabia’s vision to become a global innovation hub.

HUMAIN is owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), and AirTrunk is backed by Blackstone, the world’s largest alternative asset manager, and Canada Pension Plan Investment Board. Together, the companies’ financial strengths and industry leadership underscore the significance of this initiative in shaping the region’s digital ecosystem.
 
Tareq Amin, Chief Executive Officer of HUMAIN, said: “Together with AirTrunk and Blackstone, HUMAIN is strengthening the technological infrastructure that underpins the Kingdom’s digital economy. This partnership marks a pivotal moment in creating scalable, secure, and sustainable data center capacity to support the rapid growth of AI and cloud computing. This initiative not only accelerates Saudi Arabia’s technological advancement but also establishes a platform for long-term economic diversification and global competitiveness.”

Robin Khuda, Founder & Chief Executive Officer at AirTrunk said: “Our strategic partnership with HUMAIN, a key player in the region, will support Saudi Arabia to realize its vision of being a data- and AI-driven economy. We’re bringing together the whole digital ecosystem, combining HUMAIN’s end-to-end AI capabilities, from infrastructure to models, with AirTrunk’s leading hyperscale data center capabilities. This announcement strengthens the AirTrunk data center platform as we deliver world-class digital infrastructure for the cloud and AI across the Asia Pacific and now the Middle East, which is one of the fastest growing regions in the world.”

Stephen A. Schwarzman, Chairman, Chief Executive Officer & Co-Founder, Blackstone, said: “We are thrilled to help power this next era of innovation in the Middle East and enable AirTrunk’s expansion in this important region. The AI revolution continues to be one of Blackstone’s highest conviction themes, and we bring scale and expertise across the ecosystem as the largest provider of data centers globally and a significant investor in related services and infrastructure. This initiative reinforces Blackstone’s position as one of the world’s leading investors in digital infrastructure and marks a commitment to deepening our presence in the Middle East.”

HUMAIN, AirTrunk and Blackstone will develop a long-term strategic partnership focused on financing, developing, and operating next-generation data centers and AI infrastructure across the Kingdom of Saudi Arabia. The collaboration aligns with HUMAIN’s mandate to position the Kingdom as a global leader in artificial intelligence and reinforces its commitment to building best-in-class digital and AI infrastructure. Through this partnership, HUMAIN will lead national efforts to deliver large-scale, AI-ready infrastructure, while Blackstone, the world’s largest data center investor, and its portfolio company AirTrunk, the leading data center platform in the Asia Pacific region, will lead development, bringing global expertise, operational excellence, and investment capacity. The parties will cooperate across several key areas, including data center design, construction, and operation; financing through equity and debt; and go-to-market initiatives to attract hyperscalers and enterprise clients. The partnership will also focus on developing local talent and capabilities, supporting Saudi Arabia’s ambition to build a globally competitive and sustainable digital ecosystem.

About HUMAIN
HUMAIN, a PIF company, is a global artificial intelligence company delivering full-stack AI capabilities across four core areas: next-generation data centers, hyper-performance infrastructure & cloud platforms, advanced AI Models, including the world’s most advanced Arabic multimodal LLMs, and transformative AI Solutions that combine deep sector insight with real-world execution.

HUMAIN’s end-to-end model serves both public and private sector organizations, unlocking exponential value across all industries, driving transformation and strengthening capabilities through human-AI synergies. With a growing portfolio of sector-specific AI products and a core mission to drive IP leadership and talent supremacy world-wide, HUMAIN is engineered for global competitiveness and national distinction. www.humain.ai

About AirTrunk
AirTrunk is a leading hyperscale data centre specialist delivering essential infrastructure to scale Asia-Pacific & Middle East’s digital future, accelerated by cloud and artificial intelligence. The company’s growing data centre platform meets the needs of the world’s most transformational companies, delivering customers a scalable data centre solution at a significantly lower build and operating cost than the market. AirTrunk creates shared value with communities by embedding sustainability through industry-leading energy and water efficiency, renewable energy and water solutions and its social impact program.

A private company, AirTrunk is well capitalized to fund development of hyperscale data centres across the region, including its groundbreaking sustainable financing platform. In 2024, Blackstone (the world’s largest alternative asset manager (NYSE: BX)) along with Canada Pension Plan Investment Board (CPP Investments), acquired AirTrunk, investing alongside AirTrunk’s Founder and CEO Robin Khuda and valuing the company at over A$24 billion. www.airtrunk.com

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
 
Press Contacts
HUMAIN:
Hana Nemec
pr@humain.com

AirTrunk:
Lise Kay
+61 413 444 899
Lise.Kay@AirTrunk.com

Blackstone:
Ellen Bogard
+852 9731 9726
Ellen.Bogard@Blackstone.com

Dafina Grapci-Penney
+44 (0)755 367 3528
Dafina.GrapciPenney@Blackstone.com

Paula Chirhart
+1 347 463 5453
Paula.Chirhart@Blackstone.com

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Aviva Ventures Completes Strategic Investment in Indico Data to Accelerate AI-Driven Insurance Automation

.406 Ventures

Boston, MA and London, UK – October, 28th, 2025, Indico Data, the leader in AI-powered automation for insurance operations, today announced a strategic investment from Aviva Ventures, the corporate venture capital fund for Aviva plc, one of the UK’s largest insurers. The investment reinforces Indico’s growing leadership in the London Market and its expanding adoption among global property and casualty carriers.

 

As part of the investment, Arslan Hannani, Chief Innovation Officer at Aviva, will join Indico’s Board of Directors as a Board Observer and Advisor.

 

“This partnership underscores the increasing demand for intelligent automation that transforms how insurers handle the critical ‘front door’ of their business, from submission ingestion to claims intake to policy servicing and beyond,” said Tom Wilde, CEO of Indico Data. “Aviva’s investment and Arslan’s participation on our board validate Indico’s vision for the agentic insurance enterprise and our mission to help carriers turn unstructured data into competitive advantage.”

 

Aviva Ventures invests in companies driving transformation across insurance and financial services through emerging technologies and new business models.

 

“Indico’s technology is reshaping how insurers operate by bringing AI deeper into core workflows,” said Arslan Hannani, Chief Innovation Officer at Aviva. “We’ve seen firsthand the impact Indico is having in streamlining operations and unlocking new efficiencies, particularly in complex markets like London and beyond. We’re excited to support its continued growth.”

 

This investment builds on Indico’s growing footprint among top global carriers, who leverage its Agentic AI platform to automate underwriting, claims, and operations processes that depend on unstructured data.  Aviva’s investment follows a strategic investment from Guidewire earlier in 2025.

 

About Indico Data

Indico Data is the leading provider of AI solutions that automate complex insurance operations by transforming unstructured data into actionable insights. Trusted by leading carriers across North America and the London Market, Indico’s Agentic AI platform enables insurers to streamline underwriting, claims, and policy operations while improving accuracy, speed, and compliance.
www.indicodata.ai

 

About Aviva Ventures

Aviva Ventures is the corporate venture capital fund for Aviva plc, one of the UK’s leading insurance, wealth, and retirement businesses. Aviva Ventures invests in early- and growth-stage companies driving innovation across insurance, financial services, and sustainability.
 www.aviva.com

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Permira Realises Investment in Nexthink at $3 Billion Valuation

Permira

London, 28 October 2025 – Permira, the global investment firm, today announced the realisation of the Permira Funds’ investment in Nexthink (the “Company”), a category creator and global leader in Digital Employee Experience (DEX) management software. The all-cash transaction values Nexthink at approximately $3 billion, generating a successful outcome for the Permira Funds – Nexthink’s largest shareholder – which originally invested in the Company in 2021 through Permira’s Growth Equity strategy, Permira Growth Opportunities.

Founded in Lausanne, Switzerland, and dual-headquartered in Lausanne and Boston, US, Nexthink provides organizations with a real-time, comprehensive view of technology performance by continuously analysing billions of real-time signals across devices, applications, and networks. The Company’s generative and agentic AI capabilities enable IT teams to anticipate needs, identify and resolve issues proactively, and automate improvements at scale. The result is faster problem resolution, stronger engagement, and a more connected and productive enterprise workforce – across more than 25 million endpoints today.

The Permira Funds first invested in Nexthink in March 2021, partnering with Founder and CEO Pedro Bados and the Company’s leadership team to help accelerate the Company’s mission to redefine the digital workplace. Over the past four years, Nexthink has more than tripled its annual recurring revenue and scaled profitability through a series of core value creation initiatives. The Company completed its transition to a multi-tenant SaaS platform, launched advanced automation and AI capabilities, and further strengthened its market-leading customer retention and satisfaction.

Pierre Pozzo, Technology Partner at Permira, said: “We have had the privilege of partnering with Pedro and the Nexthink team over the past four years as the company has evolved to become the global category leader in DEX, with more than 25 million endpoints. The platform is well positioned to continue its journey of growth at scale and to deliver on its vision to make IT more autonomous and strategic, leveraging Nexthink’s AI engine.”

Pedro Bados, Founder and CEO of Nexthink, commented: “Permira has been an outstanding partner. Their deep technology expertise and global network played a pivotal role in helping us complete our cloud transition, invest in AI automation, and expand internationally. As we enter this next chapter, we’re better positioned than ever to achieve our vision of creating a zero-ticket IT experience for every enterprise.”

Stefan Dziarski, Partner and Head of Permira Growth Opportunities, added: “This is an important transaction for Permira as further validation of our technology expertise, and proof of our ability to deliver growth at scale through both our Buyout and Growth Equity strategies, and on both sides of the Atlantic. The European technology landscape offers an immense opportunity set today, and we look forward to executing on that further following this successful outcome with Nexthink.”

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Warburg Pincus and Madison International Realty Form $300 Million Strategic Partnership

Warburg Pincus logo

New York, October 27, 2025— Warburg Pincus, a leading global private equity investor with $85 billion AUM, and Madison International Realty (“Madison”), a leading real estate secondaries firm, today announced the formation of a $300 million strategic investment partnership. The investment from Warburg Pincus through its $4 billion Warburg Pincus Capital Solutions Founders Fund, creates a dedicated vehicle for the two firms to partner and transact in the real estate secondaries market. 

Madison is a global industry leader in liquidity solutions across the real estate spectrum including properties, portfolios, and platforms. The firm enjoys sustained market positioning in real estate secondaries and possesses robust deal flow in a liquidity constrained market environment. Warburg Pincus has targeted this growing segment of the real estate market as compelling for its capital solutions strategy and has identified Madison as a best-in-class partner to pursue this strategy.

The partnership will focus on effectuating differentiated real estate investments, utilizing liquidity solutions to access value in preferred real estate asset classes such as data centers, industrial, cold storage, residential/ housing and other sectors at what the partners believe to be attractive discounts to underwritten real estate value. Warburg Pincus and Madison are committed to delivering strong risk adjusted performance to their investors.

 “We believe the real estate secondaries market represents a compelling opportunity at a time when liquidity is increasingly constrained. We are pleased to partner with Madison, a leading industry player for over two decades, and believe that our combined expertise, network and resources in the real estate sector will create a compelling and valuable partnership for growth,” said José Arredondo, Principal, Warburg Pincus.

“We are excited to form this strategic partnership with Warburg Pincus, the foremost name in private growth equity investing globally,” said Ronald Dickerman, founder and President of Madison International Realty. “We believe this strategic partnership will allow us to enhance our dynamic liquidity solutions based positioning in the real estate market at exactly the time global investors seek them most. Warburg Pincus recognizes the strength of our secondaries sourcing platform, the differentiation of our liquidity solutions-focused investment strategy, and Madison’s access to compelling real estate opportunities in this capital constrained environment.”

Amid challenging liquidity conditions shaped by rising interest rates, the mid 2020s have yielded a challenging environment for commercial real estate transactions across the US, UK, and mainland Europe. As market participants look to access capital, secondary market transactions offer a creative, innovative way for Limited Partners to unlock value from their existing investments—providing much-needed liquidity and returns while bypassing traditional primary market activity. As conditions continue to evolve, the secondaries market has grown considerably and become a permanent fixture in the investment life cycle of real estate private equity.

Over its 20+ year history as a liquidity solutions provider, Madison has thrived in times of market volatility, and has established itself as a pioneer in the real estate direct secondaries investment market. Since inception, Madison has raised over $8 billion in capital commitments from more than 175 institutional investors around the world. Warburg Pincus is a leading global private equity firm and has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies.

About Madison International Realty 

Madison International Realty (www.madisonint.com) is a leading liquidity provider to real estate investors worldwide. Madison provides equity capital and customized liquidity solutions for global industry participants targeting properties, portfolios, and platforms. Madison has become a dominant player for real estate owners and investors seeking to monetize embedded equity, replace capital partners seeking an exit or to recapitalize balance sheets. The firm provides equity for recapitalizations, partner buyouts and capital infusions and acquires joint venture, limited partner and co-investment interests as principals. In addition, Madison provides strategic growth capital to established, middle-market real estate operating platforms, seeking to accelerate their growth and investment programs. Madison has offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Amsterdam, Singapore, and Seoul.

To learn more about Madison International Realty, visit www.madisonint.com.

About Warburg Pincus Capital Solutions

Warburg Pincus Capital Solutions offers flexible, solutions-oriented capital across sectors and geographies for growth, M&A, balance sheet optimization, and shareholder liquidity. The group collaborates with domain experts across Warburg Pincus’ global platform to source and execute on bespoke, value additive transactions. Warburg Pincus has had a two-decade long successful track record of structured investing, with recent portfolio investments including, DriveCentric, Excelitas Technologies, Mashura, MB2 Dental, MIAX, Nord Security, Service Compression, and United Trust Bank.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $85 billion in assets under management, and more than 215 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Press Contacts: 

FTI Consulting
MadisonUS@fticonsulting.com 

Warburg Pincus
Kerrie Cohen
Managing Director, Global Head of Communications & Marketing
Kerrie.Cohen@warburgpincus.com

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