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ARDIAN expansion acquires majority stake in OPTEVEN

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Ardian

Paris, October 17, 2018 – Ardian, a world-leading private investment house, today announces its acquisition of a majority stake in Opteven, an insurance company specializing in mechanical breakdown cover, maintenance contracts and assistance, from Aviva, the multinational insurance company, and Capzanine.

Capzanine, a European private investment management fund, is reinvesting in the company alongside management, marking an opportunity for more than 150 employees to either reinvest or start purchasing shares in the company.

The deal will allow the company to continue its organic growth and to reinforce its external growth strategy.

Founded in 1985 and headquartered in Lyon, Opteven is a leader in the automotive service and mobility contract markets in both France and Europe. Opteven is a specialist in mechanical breakdown cover and roadside assistance. It also operates in home assistance, healthcare, and personal services.

The company has experienced strong growth for 10 years. It currently generates nearly €150 million in turnover and has more than 450 employees.

Opteven is recognized for the quality of its service, earning trust from its customers, who include professionals in the automotive industry including builders, distributors, lessors, and fleets, in addition to the insurance and bancassurance industries.

To track and anticipate changes in the market, the company has made a shift to digital. Its own internal Opteven Lab detects and provides information on the development of new trends in areas such as mobility, assistance, the environment, and responsible development and tests and develops innovative solutions integrating new technologies and taking new forms of mobility into account.

Opteven currently operates in seven countries in Europe and has opened subsidiaries in Italy, the United Kingdom, and Spain in order to pursue its growth in major markets.

Jean-Matthieu Biseau, CEO of Opteven, said: “Opteven’s positioning in both the mechanical failure cover and assistance markets makes it a unique player. Opteven is competing in a growing market that is also experiencing consolidation. It was therefore essential for us to find a partner who is able to help us grow in Europe by supporting our ambitious strategy, particularly in terms of acquisitions”.

Marie Arnaud-Battandier, Managing Director at Ardian Expansion, added: “We look forward to working alongside Opteven’s high-quality management team who are backed by an excellent track record. In particular, we will help Opteven gain access to our European network to help it accelerate its international growth by opening subsidiaries and identifying potential targets for its first external growth operation”.

Benoit Choppin, Associate Director at Capzanine, added: “This has been a great journey with the company over the past five years, and we’ve especially appreciated the quality of our relationship with Jean Matthieu and his team. Opteven has all the resources to continue its development, which prompted us to reinvest as a minority shareholder”.

The transaction has been approved by the ACPR, France’s banking and insurance supervisory authority.

ABOUT OPTEVEN

Opteven is one of the leading players in Mechanical Breakdown Cover and Assistance, in France and in Europe, and a leader in service quality.
Opteven is an independent group headquartered in Lyon.
Opteven operates in 7 countries in Europe and has offices in Italy, the United Kingdom and Spain.
Over the past 10 years, the company’s growth has demonstrated that the quality of its services is highly appreciated by all its customers, professionals in the automotive industry (manufacturers, distributors, rental companies), insurance and bank insurance. Opteven will achieve a turnover of 150 million euros this year and manage nearly 500,000 claims.
With a portfolio of more than 1,000,000 automotive service contracts and nearly 3,000,000 breakdown assistance contracts, Opteven has unique expertise in its markets.

ABOUT CAPZANINE

Founded in 2004, Capzanine is a European independent private investment management fund. Capzanine supports businesses in their quest for growth, providing financial and industrial expertise to help them achieve success in their development and transfer phases. Capzanine delivers flexible longterm financing solutions to SMEs and mid-cap companies. Depending on the circumstances, Capzanine invests as a majority or minority shareholder and/or as a private debt provider (mezzanine, unitranche, senior debt), in unlisted small and mid-cap companies with an enterprise value of 30 million to 400 million euros. Although broad-based, Capzanine more particularly supports strong value-creating companies in the healthcare, technology, food and services sectors. Based in Paris and run by its partners, Capzanine currently has €2.5 billion in assets under management. Its most recent investments include: Horizon Software, Goiko Grill, Recommerce, MBA, Monviso…

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$72bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 530 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow us on Twitter @Ardian
www.ardian.com

LIST OF PARTICIPANTS

Buyers:
Ardian Expansion: Marie Arnaud-Battandier, Maxime Séquier, Claire d’Esquerre
Buyers’ Advisor: Natixis Partners (Valérie Pellereau, Patrice Raulin), Goetzpartners CF (Guillaume Piette)
Legal, Fiscal and Social Advisor: Weil, Gotshal & Manges (Frédéric Cazals, Alexandra Stoicescu, Lise Laplaud, Cassandre Porges, Kalish Mullen)
Strategic Advisor: Oliver Wyman (Olivier De Demandolx, Tarik Ouahmed)
Financial, Actuarial, Fiscal, Social and Legal Advisor: Ernst & Young (Cyril de Beco, Pauline Fabre)
Financing: BNP (Guillaume Redaud), LCL (Emilie Bosselut)

Sellers:
Groupe Opteven
Capzanine: David Hoppenot, Benoit Choppin, Bruno Bonnin
A Plus Finance: Olivier Gillot
Sellers’ Advisor:  Transaction R – Rothschild (Pierre Sader, Raphaël Fassier)
Management Advisor: Scotto (Nicolas Menard-Durand, Camille Perrin)
Legal Advisor: Goodwin (Jérôme Jouhanneaud, David Diamant)
Strategic VDD: Indefi (Julien Berger)
Financial VDD: Deloitte (Vincent Rapiau, Cyril Chalin, Davide Artigiani)
Financial, Actuarial, Fiscal and Legal Advisor: Deloitte
Social Advisor: Aguerra et Associés

   PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk
OPTEVEN
Ainsi’Com
ISABELLE BRIGLIA
Tel : +33 6 07 81 74 03

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Horizon Capital raises £200m

Horizon Capital

Last week we closed on a new fund, Horizon 2018 – a seven-year investment vehicle which secured £200 million of commitments from a group of blue-chip institutional investors led by Pantheon and Idinvest Partners alongside other investors including Lombard Odier, HQ Capital and eQ Asset Management.

Our partners, Jeremy Hand, Simon Hitchcock, Adam Lewis, Luke Kingston and Martin Squier will lead our strategy of making equity investments of between £10 – £50 million in high-growth businesses with a particular focus on creating value through buy-and-build strategies.

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Electra confirms completion of the sale of its interest in Photobox

Further to the announcement of 4 October 2018, Electra is pleased to announce that it has completed the sale of its interest in Photobox to funds advised by Lexington Partners L.P.

Electra has received proceeds from the sale of £98m.

As announced on 4 October 2018, the Board has convened a general meeting of the Company to be held at the offices of Allen & Overy LLP, One Bishops Square, London E1 6AD at 10.00 a.m. on 30 October 2018 to consider the adoption of a revised investment objective and policy. Further details of the general meeting and revised investment objective and policy are set out in the shareholder circular that was posted to shareholders on 4 October 2018. Subject to shareholder approval, the Board intends to distribute excess cash as an initial special dividend of £140m in December 2018.

The person responsible for arranging for the release of this announcement on behalf of Electra Private Equity PLC is Gavin Manson, Chief Financial Officer.

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Gimv acquires Medi-Markt Homecare Service and Medi Markt Service Nord Ost: market leadership in medical supplies to be further expanded after the merger

GIMV

As part of a succession plan, Gimv is investing in the two German companies Medi-Markt Homecare-Service GmbH and Medi Markt Service Nord Ost GmbH as well as a number of affiliated companies. These two leading service providers in incontinence care will continue to grow in the coming years as a newly formed group with the support of Gimv.

Antwerp / Munich / Mannheim / Isenbüttel, 18 October 2018, 07:30 am – European investment company Gimv has reached an agreement on the takeover of the majority of both Medi-Markt Homecare-Service GmbH based in Mannheim as well as Isenbüttel-based Medi Markt Service Nord Ost GmbH. These transactions are part of a succession plan for both companies. Gimv is thus expanding its Health & Care portfolio with a leading supplier of medical supplies in Germany, which is expected to continue to grow in the coming years. The remaining shares will be acquired by the newly appointed CEO of the Medi Markt Group,Markus Reichel. The transaction is subject to customary approval requirements and is expected to close within a few weeks.

The two companies and their affiliates, which together employ around 225 people, will form one group as of this transaction and will operate jointly under the Medi-Markt brand, headquartered in Mannheim. Markus Reichel, formerly managing director of Medi-Markt Homecare-Service GmbH, will become managing director of the new group and a co-shareholder. The companies are specialised mail-order providers of homecare supplies with a particular focus on absorbing incontinence. Further product groups include revulsive incontinence, diabetes control, stoma care, enteral nutrition, disinfection and protection as well as personal hygiene, supplying a total of c.12,000 different products. The companies distribute branded and private label products. Medi-Markt is one of the major providers in the country for incontinence aids and stoma care. The group has a combined annual turnover of more than 50 million EUR.

Medi-Markt supplies around 150,000 end-consumers annually. The majority of the products are reimbursed by health insurances, for whom Medi-Markt has been a reliable partner for many years.

“Together with our new growth partner Gimv, we want to further expand our product offering and advance into adjacent segments. We are also considering acquisitions of suitable companies,” explains Markus Reichel, Managing Director of Medi-Markt Homecare-Service GmbH and future CEO of the group. The business benefits from the demographic change since Medi Markt primarily caters an ageing population: today c. 7 million people suffer from incontinence in Germany. This number is expected to further increase to nine million over the next 20 years. “Medi-Markt’s high quality products and the company’s customer-centric approach enable many people to maintain a more independent lifestyle. At the same time, due to lean organizational structures, the company improves efficiency of care,” says Philipp v. Hammerstein, Partner at Gimv in the Health & Care segment in Munich. “We are l ooking forward to continuing the success story of these two leading specialists, while leveraging further potential related to the merger. Together with the experienced management team, we will focus on organic growth as well as on buy-and-build opportunities.”

The new investment marks Gimv’s seventh acquisition in the German-speaking healthcare market. This means that Gimv currently has 20 participations in companies in the healthcare and life sciences sector. This acquisition further underpins Gimv’s position as one of the most active European investors in the healthcare industry. The portfolio also includes several clinic and practice groups, medical technology and biotech companies.

Further details about the transaction will not be published.

 

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DIF invests in Australian waste-to-energy facility

DIF

Sydney, 17 October 2018 – DIF is pleased to announce that a consortium comprising DIF, Macquarie Capital and Phoenix Energy Australia has achieved financial close on a greenfield waste-to-energy facility in Kwinana, near Perth, Australia. DIF has acquired a 60% shareholding in the project through two of its funds: DIF Infrastructure IV and DIF Infrastructure V.

Once operational the facility will divert up to 400,000 metrics tons of household, commercial, and industrial waste from landfills each year, representing a quarter of Perth’s post-recycling rubbish. The facility will benefit from long term municipal waste supply agreements with Rivers Regional Council and the City of Kwinana, two regional councils located in the Perth region.

At the facility the waste will undergo thermal treatment, whereby the recovered energy is converted into steam to produce electricity. Metallic materials will be recovered and recycled, while other by-products of the process will be reused as construction materials. At full capacity, the facility will reduce carbon dioxide emissions by more than 200,000 metric tons per year, the equivalent of taking 43,000 cars off the road.

Acciona, a global leader in waste-to-energy facilities, will design and construct the facility. The facility will use Keppel-Seghers moving grate technology, a proven technology which is used in over 100 waste-to-energy facilities across the globe. During the construction phase, more than 800 jobs will be created including apprenticeships and a range of sub-contracting and supply opportunities for local businesses. Construction will commence this month, while start of operations is planned for the end of 2021.

Once operational Veolia, which operates over 60 waste-to-energy plants across the globe, will operate and maintain the facility under a 25-year agreement. During the operational phase approximately 60 full-time positions will be created.

Managing Director of DIF Australia, Marko Kremer, added: “DIF is excited to invest in this landmark waste-to-energy facility in Australia and looks forward to continuing its contribution to the sector going forward. European countries have long embraced the conversion of waste into energy, which has proven to deliver multiple benefits in terms of managing waste and contributing to a sustainable and secure energy supply.”

About DIF

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu or further information on DIF.

For further information on the project, please contact:

Allard Ruijs
Partner
Email: a.ruijs@dif.eu

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Montagu and Astorg enter into an exclusive agreement to form a partnership on Nemera

Montagu

17 October 2018 – Montagu Private Equity (“Montagu”) and Astorg (“Astorg”) today announce that Montagu has signed an agreement to sell Nemera (“the company”), a leading global manufacturer of drug administration systems for the pharmaceutical industry, to Astorg.

While committing to acquire the business in full, Astorg has offered Montagu the opportunity to reinvest as a partner in the next phase of Nemera’s growth, alongside its management team. Given the strength and growth potential of the company, Montagu has elected to exercise this option and form an equal partnership with Astorg to support Nemera’s management team in delivering the company’s ambitious development plans. Further terms of the transaction were not disclosed.

Headquartered in La Verpillière (France), Nemera designs, develops, and manufactures a full range of drug delivery devices including auto-injectors, inhalers, insulin pens, eye droppers and pumps from four state-of-the-art manufacturing sites in France, Germany and the US. Its products are sold to a variety of blue-chip customers from the pharmaceutical, biotech and generics industries. Nemera employs 1,950 full-time-equivalent employees.

With the support of Montagu, Nemera has grown its sales by 50% and increased by 25% its workforce since its carve out from Rexam PLC in 2014. The company has also further strengthened its world-class innovation centre and developed new services in line with its long-term commitment to improve patients’ lives and remain the partner of choice for its longstanding clients.

Following the transaction, Astorg will jointly control Nemera with Montagu, providing the financial resources and sector expertise required to support management’s ambitious growth plans, both organically and via carefully selected add-on acquisitions.

Marc Haemel, Nemera’s CEO, said “We are excited about our new partnership with Astorg and Montagu. We have been very impressed by Astorg’s in-depth understanding of our business, as well as their overall expertise in the healthcare space, which will help us fulfill our growth ambitions. We are also delighted to continue working with Montagu, who has significantly contributed to our success.

This transaction opens a promising new chapter for the company. It will allow us, with the support of Astorg and the continued commitment of Montagu, to build upon the company’s strengths and accelerate the development of our proprietary device portfolio and innovation capabilities, while also exploring additional value-creating opportunities.”

Completion of the transaction is subject to satisfactory clearance from relevant anti-trust authorities.

Astorg was advised by Citigroup and Latham & Watkins. Montagu was advised by HSBC, Morgan Stanley and Weil Gotshal.

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KKR and Regal London Acquire Strategic New Site In London’s SW9

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KKR

London, 17 October 2018 – Leading developer Regal London, and joint venture partner KKR, a leading global investment firm, have acquired a strategic new site at 340a Clapham Road, SW9, situated between Stockwell and Clapham North. The site represents Regal London’s and KKR’s first development through their joint venture. Upon completion, the total GDV of the scheme is expected to be in the region of £50million.

The brownfield site (formerly a tool hire depot), will become a vibrant mixed use, residential-led development, set to total 94,740 sq ft (GIA). It will deliver 62 one, two and three bedroom apartments – 12 of which will be available for Shared Ownership – spread over nine floors. The ground and lower ground floors will comprise approximately 18,250 ft² (GIA) of flexible B1/A1 commercial space. Planning permission was granted in June 2017 following a collaborative working relationship with the London Borough of Lambeth.

With a high quality and contemporary design, both of which are hallmarks of every Regal London scheme, the development will complement the surrounding streetscape of new build and period properties. Every apartment will benefit from a private balcony, while residents will also have access to communal gardens and a roof terrace.

An established network of transport links is within easy reach of the development, with Stockwell Underground Station just 0.2miles away, as well as Clapham North Underground Station and Clapham High Street Overground Station both within a short walk.

A thriving social and leisure scene is also nearby, led by the bars, pubs, restaurants and cafes, as well as a selection of amenities, in situ along the lively Clapham High Street and its surrounds.

Simon De Friend, CEO, Regal London, comments:

“Ensuring that our sites are attached to wider areas of investment and regeneration is fundamental to our development strategy. 340a Clapham Road has the necessary infrastructure to support a thriving community. With the character and amenities of both Clapham High Street and Stockwell just a stone’s throw away, it is set to be a sought-after proposition for first time buyers and young professionals alike.”

Guillaume Cassou, Member and Head of European Real Estate at KKR, adds:

“We are excited about our first transaction with Regal London, which comes at a time when London continues to require attractive and affordable housing, and builds on our strong track record of working with leading developers in markets around Europe.”

Christopher Shaw, CEO, Shaw Corporation Limited, comments:

“Shaw Corporation Limited acting for the landowner, David Pearl’s Totsbridge Limited, secured planning permission for the redevelopment of this strategic site in June 2017 having worked collaboratively with the London Borough of Lambeth to achieve agreement on the mixed use proposals.  We are delighted that Regal London and its joint venture partner, KKR, will take this development forward and deliver our collective vision that completes the regeneration of this part of Clapham Road, providing new high quality homes, including much needed affordable homes, and flexible workspace.”

Work is set to begin on site at 340a Clapham Road in H1 2019. Completions are expected to be from late 2021.

KKR’s investment is being made through its Real Estate Partners Europe fund.

Media contacts

For Regal London:
Tahlie Cooper
Edelman
Email: tahlie.cooper@edelman.com
Tel: 020 3047 4158

For KKR:
Alastair Elwen
Finsbury
Email: Alastair.elwen@finsbury.com
Tel: 0207 251 3801

About Regal London
Regal London is a privately held property development firm which has been delivering outstanding mixed used developments in the London market since 1998. The company has over 475,000 sq ft of high quality commercial space completed and underway, as well as 3,250 residential units, ranging from eight-bedroom luxury houses to chic city apartments, all of which have Regal London’s hallmark of quality, with superior specifications and customer service.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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Altas to Acquire a Significant Interest in Hub International

Altas Partners

Altas Partners announced today that it has signed an agreement to acquire a significant interest in Hub International Limited (Hub), a leading full-service global insurance brokerage.

Headquartered in Chicago, Illinois, Hub International provides property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions.

The transaction is expected to close before the end of 2018 and is subject to customary closing conditions and regulatory approvals.

For more information, visit https://www.hubinternational.com/en-CA/

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Onex Invests in Ryan – A Leading Global Tax Services and Software Provider –

Onex

Toronto, Ontario and Dallas, Texas, October 17, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it acquired a 42% interest in Ryan, LLC (“Ryan”) for $317 million, which values the company at $1.1 billion.
Headquartered in Dallas, Texas, Ryan is a leading global tax services and software provider with an integrated suite of federal, state, local, and international tax services, and is the largest firm in the world dedicated exclusively to business taxes. Its multi-disciplinary team of more than 2,200 professionals and associates serves over 14,000 clients, including many of the world’s most prominent companies.

“Onex is the ideal partner for us given its strong track record and focus on growing companies and supporting the management teams in which it invests,” said G. Brint Ryan, Founder, Chairman and Chief Executive Officer of Ryan. “In recent years, we’ve significantly expanded our business, adding new service lines and growing our premium client roster. With the backing of Onex, we’ll continue this momentum to increase the value we bring to our clients.”
“Ryan is a trusted advisor to many of the world’s most respected organizations. This is a direct reflection of the caliber and values of Ryan’s people who are completely aligned with the success of their clients and work relentlessly on their behalf,” said Amir Motamedi, a Managing Director with Onex. “We’re delighted to be in business with Brint and his team and look forward to the years ahead.”
Onex invested $86 million of equity as a limited partner in Onex Partners IV. Onex expects to begin accruing fees on Onex Partners V, a $7.15 billion fund raised in 2017, once its previously announced acquisition of KidsFoundation closes later this year.
BofA Merrill Lynch acted as financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Onex. Baker & McKenzie LLP acted as legal advisor to Ryan.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.8 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $48 billion, generate annual revenues of $31 billion and employ approximately 211,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About Ryan
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multi-jurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a six-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multi-disciplinary team of more than 2,200 professionals and associates serves over 14,000 clients in more than 50 countries, including many of the world’s most prominent Global 5000 companies. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity. For more information on Ryan, visit its website at www.ryan.com.

This news release may contain forward-looking statements that are based on Onex and Ryan management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex and Ryan are under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

Onex
Emilie Blouin
Director, Investor Relations
+1.416.362.7711
Ryan
Patty Sullivan
Director, Communications
+1.469.399.4721 or patty.sullivan@ryan.com

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InfraRed Active Real Estate Fund IV reaches its final close

InfraRed Capital Partners

InfraRed Capital Partners has reached the final closing of its latest real estate fund, InfraRed Active Fund IV, (“Active Fund IV” or “the Fund”) with total equity commitments of £522m (c. US$690m), exceeding its £500m target.

With the associated leverage envisaged for its strategy, Active Fund IV has an investment capacity of over £1.2bn. The Fund continues InfraRed’s successful strategy of focusing on intensively managed, high value-add opportunities in core markets, primarily in Germany, France and the UK. InfraRed has already committed more than 30% of the Fund’s capital to five assets, including office projects in Munich, Paris and Frankfurt.

Over 30 investors across the globe have committed to Active Fund IV, including pension plans, foundations, wealth managers and family offices from North America, Europe, the Middle East and Asia.

Chris Huxtable, Head of European Real Estate, noted: “We are very pleased with the support we have received from our investors, many of whom have experienced our disciplined and hands-on investment style over several years. The scope and quality of our investor base is testament to InfraRed’s track record and team.”

Commenting on the fundraising, Andreas Katsaros, Head of Real Estate Strategy & Origination, said: “Reaching deep into a select number of fundamentally strong markets, unearthing high quality opportunities, working with our tenants and creating highly desirable core assets with long-term purpose has been the mainstay of our investment approach. Our Fund IV investments in Munich, Paris and Frankfurt are great examples of this formula, and we are excited about the new projects we are expecting to add to the portfolio soon.”

Atlantic-Pacific Capital acted as global placement agent for InfraRed.

Enquiries

Tulchan Communications
+44 (0) 20 7353 4200
Toby Bates
Sheebani Chothani

 

More Information

About InfraRed Capital Partners:

InfraRed is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 140 professionals it manages in excess of USD 10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

Since its inception over 25 years ago, InfraRed has launched 18 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure Company Limited and The Renewables Infrastructure Group. To date, six of these funds have been realised.

InfraRed has been an active real estate investor and manager from the start  and focuses on assets which suit its intensive management style, targeting well-located, mostly multi-let properties in the key urban growth centres of Europe. InfraRed has also been an investor and manager in Asian real estate for over 10 years and is one of the leading international investors in the Greater China real estate market.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behavior and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed’s website, www.ircp.com.

 

About Atlantic-Pacific Capital, Member FINRA and SIPC:

Atlantic-Pacific Capital is one of the largest privately-owned global placement agents and advisory firms dedicated to raising capital for alternative investments. Since its founding in 1995, the firm has executed more than 100 capital raising assignments aggregating over $70 billion for an extraordinary group of alternative asset managers. Typical mandates include private equity, real estate, real assets, natural resources and infrastructure fund placements. Atlantic-Pacific provides global marketing distribution and project management execution using a focused and customized approach. With experienced professionals located in seven offices throughout the United States, London and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with influential institutional investors.

Further details can be found on www.apcap.com

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