Category Archives: News

Sia Partners Welcomes a Strategic Minority Investment from Blackstone

Blackstone

PARIS, FRANCE – 16 December 2024 – Sia Partners (“Sia” or “the Company”), a global, next-generation independent management and AI consulting firm, announced today a minority investment of up to €250 million from funds managed by Blackstone’s private equity strategy for individual investors (“Blackstone”), to support the Company’s continued growth. Founder and Chief Executive Officer, Matthieu Courtecuisse, retains a significant majority stake in Sia and will continue to lead the Company. It marks the Company’s first partnership with a financial investor since its inception.

Founded in 1999, the Company has become a leading player in the global consulting market, recognised for its deep expertise in strategy, management consulting and AI, and ability to leverage technology and data to drive business transformation. With 3,000 employees across 20 countries and 50 offices, the Company works with over 1,000 clients, including Fortune 500 and major tech clients, across a diversified base of end markets, within sectors such as Energy, Banking, Consumer, Luxury and Retail and TMT. Projects range from significant strategic transformation, change management, operational analysis, post-merger integration and innovation.

Sia continues to deliver impressive results, achieving close to €500 million in revenue, 40% of which is in France and 30% in the United States. The partnership with Blackstone will support Sia’s acceleration of its expansion across the U.S. market, as well as support strategic M&A.

Matthieu Courtecuisse, Chief Executive Officer, Sia Partners, said: “We are thrilled that Blackstone is investing in our consulting firm as a minority partner. This partnership reflects a shared conviction in our strategic consulting model augmented by AI and design, as well as the common ambition of a leadership position in a market that is experiencing a new phase of consolidation.

“Today’s announcement is also a testament to the hard work of everyone at Sia, our 25 years of organic growth and the opportunity that lies ahead. With Blackstone’s resources we can grow our organic offerings, accelerate our international expansion plans and develop our ability to innovate, bringing our premium offering to more clients around the world.”

Lionel Assant, Global Co-Chief Investment Officer, Blackstone, said: “Sia is a fast-growing leader in the space, benefitting from a differentiated service offering given their deep expertise across industry defining megatrends such as the energy transition and AI. We look forward to partnering with Matthieu and the wider team to drive long-term growth by leveraging our global footprint, scale and expertise.”

Alongside the transaction, the Company is also pleased to announce the appointment of Sandrine Carreau as President & COO, alongside Matthieu Courtecuisse, Founder & CEO. Sandrine Carreau has been with Sia Partners for 12 years, is based in Paris, and was previously in charge of Strategy and M&A, Marketing, and ESG.

J.P. Morgan SE acted as Exclusive Financial Adviser and Sole Placement Agent, and A&O Shearman acted as legal advisor, to Sia Holding with respect to the strategic minority investment from Blackstone.

Freshfields acted as legal advisor and Eight Advisory as legal transaction services advisor to Blackstone.

Media Contacts
 
Sia Partners
Marc Landré
marc.landre@sia-partners.com

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com
+44 (0)7918 360372

The Leverage Advisory on behalf of Blackstone
Florence Sabourin
fsabourin@theleverageadvisory.eu
+33 (0)6 07 62 47 36

About Blackstone  
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Sia Partners
Sia Partners is a next-generation management and AI consulting firm. With 3,000 employees across 20 countries and 50 offices, we offer strategy, management, and AI consulting services to over 1,000 clients worldwide, including most Fortune 500 companies. Founded in the AI era, our unique value proposition lies in deep sector expertise across all industries, combined with innovative, AI-driven consulting methodologies that deliver tangible results. Further information is available at www.sia-partners.com. Follow us on LinkedIn, X (Twitter), and Instagram.

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Belgian software company Itineris accelerates expansion in the U.S.

GIMV

3 contracts signed, including one with the ninth largest city in the country. Additionally, Flanders’ largest drinking water company extends its partnership with the company.

Ghent, Belgium & Atlanta, U.S. – December 13th, 2024 – Itineris, a global leader in innovative SaaS solutions for utilities, has recently secured three new contracts in the United States. Dallas, the ninth largest city in the country, is one of the three new customers. Additionally, De Watergroep, the largest drinking water company in Flanders (Belgium), has extended its partnership with Itineris by five years.

Dallas partners with Itineris to modernize its IT landscape

With Itineris’ software, Dallas Water Utilities (DWU), located in Texas, aims to modernize its business processes and enhance services for the 2.6 million residents of Dallas and 27 surrounding cities. DWU delivers more than 150 billion gallons of water annually through an extensive network of more than 5,000 miles of pipelines.

Following an intensive evaluation process, DWU selected Itineris—headquartered in Ghent, Belgium and supported by their U.S. division in Atlanta, GA—and its cloud-based software solution, UMAX. UMAX will replace outdated systems for meter readings, billing, and water management, and will also include a brand-new customer portal.

The contract spans 10 years. Following previous successful implementations in cities such as New York City; Boston; Baltimore; Tallahassee, Florida; and Lansing, Michigan; this marks the second-largest contract for Itineris in North America.

Two additional major contracts secured in the U.S.

Itineris has also recently signed contracts with Gwinnett County Water, serving 270,000 water customers in Georgia, and Arizona Water Utilities, its first investor-owned utility (IOU) customer, heralding the company’s entrance into a new market segment.

Largest drinking water company in Flanders extends partnership

Alongside its successes in the U.S., Itineris has extended its collaboration with De Watergroep—the largest drinking water company in Flanders, Belgium—by at least five years. This partnership, which began in 2007, highlights the strong relationship and mutual trust between the two companies.

 

Read more: https://www.itineris.net/accelerated-expansion-in-the-us/

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EQT completes public offering of common stock of Kodiak Gas Services

eqt

An affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (“EQT”) is pleased to announce the completion of an underwritten public offering (the “Offering”) of 5,500,000 shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”) for gross proceeds of USD232,925,000. Goldman Sachs & Co. LLC and J.P. Morgan acted as the underwriters for the Offering, which was completed on December 13, 2024. The Company did not sell any shares of its common stock in the Offering and did not receive any proceeds from the sale of the shares of its common stock sold by EQT.

Contact

EQT Press Office, press@eqtpartners.com

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EQT Completes Acquisition of PropertyGuru

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eqt

PropertyGuru enters into next phase of growth as Southeast Asia’s leading property technology platform, empowering millions of property seekers across the region with innovative solutions.

EQT to harness its deep expertise in scaling digital marketplace and classifieds businesses to drive technology innovation, operational excellence, and market expansion.

Sets the stage for PropertyGuru to capitalize on urbanization, middle-class growth, and digitalization trends across the region’s dynamic real estate markets.

SINGAPORE & NEW YORK – December 13, 2024 –EQT Private Capital Asia and PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading property technology (“PropTech”) company, are pleased to announce the completion of the acquisition (the “Merger”) of PropertyGuru by BPEA Private Equity Fund VIII for USD 6.70 per share in cash in a transaction that values PropertyGuru at an equity value of approximately USD 1.1 billion.

In connection with the closing, PropertyGuru’s common shares ceased trading before the market open on December 13, 2024, and the Company has been delisted from the New York Stock Exchange. PropertyGuru will operate as a privately held company. Following the Merger through January 12, 2025, each unexercised and outstanding warrant will be, upon valid exercise, exchangeable for USD 0.7526 per warrant.

Founded in 2007 and headquartered in Singapore, PropertyGuru is Southeast Asia’s leading property technology platform, connecting over 31 million property seekers with more than 50,000 agents across Singapore, Malaysia, Thailand and Vietnam each month. With a comprehensive suite of offerings, including extensive real estate listings, data-driven insights, and mortgage solutions like PropertyGuru Finance and enterprise client solutions under PropertyGuru for Business, the Company empowers users to make confident property decisions across the region.

EQT’s investment in PropertyGuru aims to support the Company’s ongoing progress by providing resources and expertise to accelerate technology development, expand market reach, and improve operational efficiency. Leveraging its experience with leaders in the digital marketplace and real estate classifieds sectors – including companies such as Idealista and Casa.it – EQT seeks to advance PropertyGuru’s strategic initiatives, strengthen its position in Southeast Asia’s PropTech sector, and drive growth in dynamic markets influenced by urbanization, middle-class expansion, and digitalization.

Hari V. Krishnan, Chief Executive Officer, PropertyGuru Group, said, “We are pleased to announce the successful completion of this transaction and we welcome EQT to PropertyGuru. Over the past seventeen years, our growth has been enabled by strong partnerships with our shareholders, led by TPG and KKR. On behalf of everyone at PropertyGuru, I want to thank them for their support and I am proud that we have delivered a solid financial exit for our long-term investors.”

“On behalf of our group leadership team, I thank our Gurus for their hard work and the wonderful business we have built together, and our customers and partners for their continued trust and partnership. EQT shares our commitment to our continued sustainable growth, and we look forward to working with them towards our Group’s vision to power, communities to live, work and thrive in tomorrow’s cities,” Mr. Krishnan added.

Janice Leow, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital Southeast Asia, said, “PropertyGuru has redefined the property technology landscape in Southeast Asia, standing out for its innovation and leadership in delivering solutions that empower millions across the region. Drawing on EQT’s expertise in technology-driven businesses, with a strong focus on marketplace and classifieds platforms, we look forward to supporting PropertyGuru in exploring new opportunities, enhancing its offerings, and driving its next phase of growth while contributing to the evolution of the property market in Southeast Asia.”

Contact
EQT Press Office, press@eqtpartners.com
PropertyGuru Group, Corporate Communications, mediaenquiry@propertyguru.com.sg

[1] Based on SimilarWeb data between January 2024 and June 2024.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), divided into two business segments: Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific, and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

More info: www.eqtgroup.comFollow EQT on LinkedIn, X, YouTube and Instagram

About PropertyGuru
PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 31 million property seekers[1] to connect with over 50,000 agents[2] monthly to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings[3], in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 17 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

[1] Based on Google Analytics data between January 2024 and June 2024.

[2] Based on data between April 2024 and June 2024.

[3] Based on data between January 2024 and June 2024.

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EQT Exeter acquires two UK warehouses in Milton Keynes and Dartford

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eqt

Transaction comprises two fully-leased, strategically located logistics assets in Milton Keynes and Dartford, totaling approximately 650,000 square feet

This acquisition reinforces EQT Exeter’s commitment to investing in well-located, high-quality logistics properties that address occupier demand

The assets align with EQT Exeter’s value-add investment strategy, including lease-up initiatives and sustainability enhancements to future-proof the properties

EQT Exeter, a leading global real estate investment manager, today announced that the EQT Exeter European Logistics Value Fund IV (“EQT Exeter”) has acquired two prime logistics properties in Milton Keynes and Dartford from M&G Real Estate. The total transaction price is in excess of GBP 100 million.

In Milton Keynes, the 320,000 square foot warehouse is 100% let to DS Smith Corrugated Packaging while the Dartford asset totals 334,000 square feet fully let to Asda Stores. These key South East logistics hubs offer excellent access to major transportation networks, supporting critical regional distribution operations and fulfilling EQT Exeter’s focus on high-demand logistics markets fueled by robust e-commerce growth and evolving supply chain needs.

Additionally, the transaction aligns with EQT Exeter’s value creation investment strategy via energy efficiency upgrades which will contribute to decarbonization and compliance with future regulatory standards, delivering long-term value for stakeholders.

Jonathan Mackie, Director of UK Acquisitions and Leasing at EQT Exeter, said: “We are excited to add these two high-quality logistics assets to our portfolio. Their strategic locations attract robust big box occupier profiles proving the critical nature of these UK logistics submarkets. EQT Exeter’s operational expertise and focus on sustainability will aim to unlock further potential for these properties, ensuring they meet the evolving needs of our occupiers and investors alike.”

EQT Exeter was advised by ACRE Capital Real Estate (commercial), Charles Russell Speechlys (legal), Epsilon Environmental (environmental) and Black Cat Consultancy (tech).

Contact
EQT Press Office, press@eqtpartners.com

About

About EQT Exeter
EQT Exeter is a global real estate investment manager with over $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 450 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/
Follow EQT Exeter on LinkedIn

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Carlyle Raises Over $7 Billion for its Third Credit Opportunities Fund

Carlyle

NEW YORK, NY – Global investment firm Carlyle (NASDAQ: CG) announced today the final close of its third Carlyle Credit Opportunities Fund (“CCOF III”), with $7.1billion[1] in investable capital, Carlyle’s largest credit fundraise to date. This includes $5.7 billion in commitments from a variety of large, sophisticated global institutions, including new and existing CCOF investors, and available leverage. CCOF III is nearly 30% larger than its predecessor fund and brings total investable capital across the opportunistic credit strategy to approximately $17 billion1.

To date, CCOF III has invested or committed more than $2.4 billion – or 33% of investible capital – in 25 investments across North America, Europe, and Asia Pacific. The team provides borrowers highly structured and privately negotiated solutions across the capital structure to family, founder, and management-owned companies, sponsor-backed companies, and special situations.

“We appreciate the ongoing support of our investors, many of whom were repeat investors from our previous funds. With the global economy in a period of prolonged transformation, our Credit Opportunities strategy is well-positioned to expand our reach and provide timely, strategic capital to companies navigating complex situations,” said Alex Popov, Head of Private Credit at Carlyle. “We have become a trusted partner to many successful family and entrepreneur owned businesses and have been a contributing factor in their on-going success. Our long-standing sourcing relationships and rigorous approach to due diligence and credit selection help enable us to selectively structure bespoke solutions that can generate attractive risk-adjusted returns in strong businesses that are otherwise not for sale.”

“This fundraise is a milestone for our Global Credit platform and a testament to the caliber of our Opportunistic Credit team,” said Mark Jenkins, Head of Global Credit at Carlyle. “Private credit continues to play a vital role in the global capital markets, and we see tremendous opportunity to put capital to work in this asset class. We appreciate the confidence and support of our limited partners and remain focused on delivering consistent and persistent yields on their behalf.”

Since 2017, Carlyle’s Credit Opportunities strategy has deployed nearly $22 billion, leveraging Carlyle’s areas of expertise and market connectivity to develop thematic views and proactively pursue investments in targeted industry verticals including sports, media and entertainment; residential real estate and services; software and technology; and financial and business services.

This successful fundraise will further support the growth of Carlyle’s Global Credit platform, which has been Carlyle’s fastest-growing business segment over the past five years. With $194 billion in assets under management as of September 30, 2024, Carlyle’s Global Credit platform manages assets across the risk return spectrum: from liquid, to private credit, to real asset strategies, and asset-backed finance.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $447 billion of assets under management as of September 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

Media Contact

Kristen Ashton

(212) 813-4763

Kristen.ashton@carlyle.com

 

 

[1]Represents equity raised plus fund leverage of opportunistic credit fee-paying commingled funds and SMAs.

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Blackstone Announces Acquisition of Tokyo Garden Terrace Kioicho, Japan’s Largest Ever Real Estate Investment by a Foreign Investor

Blackstone

TOKYO – December 12, 2024 – Blackstone (NYSE: BX), the world’s leading alternative investment firm, today announced that Real Estate funds managed by Blackstone (“Blackstone”) have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, an acclaimed 2.4 million square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6 billion (around JPY 400 billion), this marks the largest real estate investment by a foreign investor in Japan and the firm’s largest investment to date across businesses in the market.

Located in central Tokyo, Tokyo Garden Terrace Kioicho comprises two high-rise towers consisting of a Grade A+ office, which is currently 100% occupied; 135 high-end residential units; a 250-key luxury hotel; conference and wedding venues; and over 30 cafes and restaurants, and goods and services stores.

Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, Blackstone, said: “This is a landmark opportunity to acquire a trophy Tokyo asset from one of Japan’s most respected corporations, Seibu Holdings. Japan is one of our most important markets globally, where we have acquired $16 billion of real estate assets since 2013. This transaction represents our conviction in Japan and the deep partnerships we’ve built with leading Japanese companies like Seibu.”

Daisuke Kitta, Head of Real Estate Japan, Blackstone, said: “We are thrilled to partner with Seibu and add this prime, mixed-use property to our real estate portfolio in Japan. Japan has entered a new era of corporates seeking to partner with trusted groups like Blackstone to divest their assets for further growth. We are committed to mobilizing our strong local teams with insights and relationships, and our global real estate platform, to continue to support this asset for long-term success.”

Ryuichiro Nishiyama, President and Representative Director, COO, Seibu Holdings, said: “Blackstone has provided a proposal that will contribute to further growth and development of the asset, and a valuation that reflects its strength. In the future, the Seibu Group companies will continue to be involved in the management of the asset, which includes undertaking the asset management business and hotel management business, and will provide even more attractive new value in Kioicho based on a long-term and strong partnership with Blackstone.”

Blackstone is a leading investor in Japan. The firm has built a diversified real estate portfolio in Japan across its global high conviction investment themes including hotels, rental housing, logistics, and data centers.

For more than 17 years, Blackstone has been a trusted partner to Japanese companies looking to divest their businesses and assets for continued growth. Its notable carveouts include: the acquisition of an eight-hotel portfolio from Kintetsu Group and a logistics portfolio from Daiwa House; in private equity, investments in Sony Payment Services with Sony Group, the consumer healthcare unit (renamed Alinamin Pharmaceutical) from Takeda Pharmaceutical, and Infocom from Teijin.

Blackstone Real Estate 
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US$325 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact
Mariko Sanchanta
mariko.sanchanta@blackstone.com
+852 9012 5314

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Ardian becomes Heathrow’s largest shareholder as acquisition completes

Ardian

This statement should be read in conjunction with Ferrovial’s statement issued today and its statements issued on November 28th 2023 , January 16th 2024  and June 14th 2024, and by Ardian on November 29th 2023 and June 14th 2024.

•    Ardian becomes the largest shareholder of Heathrow Airport as transaction to acquire 22.6% stake completes
•    Ardian will support Heathrow to deliver sustainable growth

Ardian, a world-leading private investment house, today announces that it has completed the acquisition of a 22.6% stake in FGP Topco Ltd (TopCo), the holding company for Heathrow Airport Holdings Ltd, from Ferrovial SE and certain other TopCo shareholders (the Transaction). Concurrently, PIF has acquired 15% of TopCo from the same shareholders through a separate vehicle.

“We are extremely proud to become part of the Heathrow family. Heathrow is an iconic global infrastructure asset, and this transaction marks another milestone moment for Ardian. We are passionate about infrastructure and the role it plays enabling growth and supporting the transition to net zero. We intend to support the Heathrow management team as they work to achieve both goals, growing the airport sustainably over the years ahead.” Mathias Burghardt, Executive Vice-President and Head of Infrastructure, Ardian

“The UK is a priority market for Ardian, and this transaction builds on our 17-year track record of successful infrastructure investments in the country. Our investment in Europe’s leading airport and the UK’s international gateway will draw on Ardian’s expertise in aviation, including previous investments in London Luton Airport and stakes in six airports in Italy. And it is another example of how we are delivering Ardian’s strategy of investing in significant infrastructure in our core markets. We delighted to be part of Heathrow’s future and committed to helping it grow sustainably.” Juan Angoitia Grijalba, Co-Head of Infrastructure Europe and Senior Managing Director, Ardian

“Heathrow is a vital national asset connecting the UK to the world and driving prosperity in every corner of the country. We’re delighted to welcome Ardian and PIF as new shareholders and investors in Heathrow’s future. We have a Board of experienced infrastructure investors committed to our long-term development and growth, supporting our strategic journey to make Heathrow an extraordinary airport, fit for the future.” Lord Deighton, Chairman of Heathrow Airport Holdings LTD

“Our number one mission is to deliver economic growth in every part of the UK to improve living standards. Attracting investment to our shores supports that goal. That’s why this investment matters. It’s also a strong vote of confidence in the UK, and comes on top of the £63bn of investment secured from international investors earlier this year, showing Britain is back in business.” Rt Hon Rachel Reevs, Chancellor of the Exchequer

“This huge investment in Heathrow is a massive vote of confidence in our world leading aviation sector. Seeing global investors put billions in the UK economy shows we are an investment destination of choice. Our Plan for Change will aim to secure more fantastic investment like this to deliver long-term, stable growth that supports skilled jobs and raises living standards across the country.” Rt Hon Jonathan Reynolds, Secretary of State for Business and Trade

List of participants

  • Participants

    • Ardian team: Juan Angoitia Grijalba, Alexis Ballif, William Briggs, René Hauzeur, Philippe Tallon, Edouard Bertagna, Matthias Hübener, Aurea Alvarez
    • M&A: Bank of America, RBC, Goldman Sachs, Santander
    • Legal: Clifford Chance, DLA Piper
    • Financial Due Diligence: KPMG
    • Traffic Due Diligence: Infrata
    • Regulatory Due Diligence: NERA

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing our people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
Through its direct infrastructure investment activities, Ardian has significant experience in owning and operating European airports. In the UK, Ardian was a 49% shareholder of London Luton Airport from 2013 until 2018. During Ardian’s period of ownership, a significant redevelopment of the terminal, transport links and infrastructure was successfully completed in close cooperation with Luton Borough Council. In Italy, Ardian is an indirect shareholder of Milan Linate, Milan Malpensa, Naples and Turin airports alongside their regions and municipalities.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media Contacts

Ardian

Liz Morley

liz.morley@5654.co.uk+44 (0) 7798683108

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Equistone portfolio company TIMETOACT GROUP acquires JOIN(+) and further expands its expertise in Big Data & AI

Equistone

TIMETOACT GROUP, a leading provider of IT services for upper medium-sized companies, corporations and public institutions, is acquiring JOIN(+), an experienced German IT consulting service specialised in Big Data & AI. The partnership marks TIMETOACT GROUP’s third acquisition in the past twelve months and tenth overall since the Equistone funds acquired a majority stake in the business.

TIMETOACT GROUP, headquartered in Cologne, comprises specialised IT companies across 30 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore, Spain, Ukraine, Hungary and the USA. With over 1,350 employees and a comprehensive portfolio of software and consulting services, the digitalisation expert primarily concentrates on medium-sized and large companies from the industrial, financial and service sectors, as well as public institutions.

Funds advised by Equistone Partners Europe acquired a majority stake in the business in June 2021. Since then, TIMETOACT GROUP has successfully pursued a targeted buy-and-build strategy focused on strengthening the group’s service portfolio and accessing new market segments. In February 2024, TIMETOACT GROUP acquired Austrian IT consulting firm Trustbit to form one of the leading digitalisation players in Austria. In November 2024, the group announced the planned acquisition of Hungarian-based EverIT through its portfolio company catworkx, a transaction which will further strengthen its global consulting portfolio. With the acquisition of JOIN(+), TIMETOACT GROUP has achieved another important milestone in its dynamic growth journey and the expansion of its group-wide consulting portfolio.

With offices in Villingen-Schwenningen and Konstanz, Germany, JOIN(+) GmbH is an established IT consulting service provider which has been operating for over 25 years. JOIN(+) acts as a technical consulting and implementation partner to support customers in a range of industries in the DACH region. The company specialises in business analytics, business intelligence, Big Data & AI, and data visualisation, and is able to draw on highly trained employees who work every day to fulfil the company’s mission of focusing on quality, flexibility and trust.

With this transaction, the companies are now joining forces and will be optimally positioned to benefit from important synergy and growth potential, especially through their extensive expertise in the area of Big Data & AI. The managing directors of JOIN(+), Erich Anhut and Jürgen Lutz, will continue to lead the company and oversee the integration of the business into the TIMETOACT GROUP.

“We are becoming part of a strong brand by joining the TIMETOACT GROUP and will benefit from increased efficiency and performance, which will ultimately strengthen our position as a reliable partner in the IT industry. With an expanded portfolio, we are now even better positioned to meet the constantly changing needs of our customers and offer innovative, tailor-made solutions,” commented Erich Anhut, Managing Director of JOIN(+). “The merger also increases stability and planning security for our employees and allows us to offer new development perspectives and exchange opportunities with many international experts,” adds Jürgen Lutz, Managing Director of JOIN(+).

“The acquisition of JOIN(+) is an important step in expanding our Data & AI portfolio. With Erich and Jürgen, we have also gained two highly motivated managers and we are very pleased to be able to further develop the TIMETOACT GROUP together,” says Frank Fuchs, Co-Managing Director of TIMETOACT GROUP.

Felix Binsack, Co-Managing Director of TIMETOACT GROUP, adds: “Through the merger with JOIN(+), we are gaining a highly competent and dynamic team, who perfectly complement the TIMETACT GROUP culturally. The acquisition supports our offering to our customers and gives us broad and cross-manufacturer consulting expertise in the key growth area of Data & AI.”

“TIMETOACT GROUP has been pursuing an ambitious growth strategy since Equistone funds acquired a majority stake back in 2021. The acquisition of JOIN(+) marks another decisive step for the group on its journey towards becoming one of the leading players in the IT consulting sector in the DACH region. TIMETOACT GROUP is not only strengthening its competencies in Big Data & AI, but the merger will also maximise synergies from which both customers and employees will benefit in the long term,” adds Moritz Treude, Director at Equistone Partners Europe’s Munich Office.

Frank Fuchs, Christian Koch and Christian Reifenhäuser are responsible for the transaction on behalf of TIMETOACT GROUP. TIMETOACT GROUP was advised on the transaction by AC CHRISTES & PARTNER (Financial & Tax), de Angelis Rechtsanwälte (Legal) and McDermott Will & Emery Rechtsanwälte Steuerberater (Legal, Antitrust Law). The JOIN(+) shareholders were advised on the transaction by LFK PARTNER (Legal, Financial & Tax) and GROUP BUILDERS HAMBURG (M&A).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

Munich, Zurich, Amsterdam

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

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Gilde Healthcare portfolio company SpliceBio Announces U.S. FDA IND Clearance of SB-007

GIlde Healthcare
December 12, 2024
Barcelona (Spain)
  • SB-007 is the only IND-cleared, clinical-stage therapeutic addressing the root cause of Stargardt disease with the potential to treat all patients across all ABCA4 mutations
  • Phase 1/2 ASTRA study set to begin in the first half of 2025, supported by POLARIS, a pioneering company-sponsored natural history study in Stargardt disease
  • First ever IND clearance for a Protein Splicing gene therapy

SpliceBio, a genetic medicines company pioneering Protein Splicing to address diseases caused by mutations in large genes, today announced that the U.S. Food & Drug Administration (FDA) has cleared its investigational new drug (IND) application for lead program SB-007. SB-007 is the only clinical-stage therapeutic addressing the root genetic cause of Stargardt disease with the potential to treat all patients across all ABCA4 mutations.

Miquel Vila-Perelló, Ph.D., Chief Executive Officer, and Co-Founder of SpliceBio, said: “The FDA IND clearance of SB-007 is a significant achievement for SpliceBio and Stargardt disease patients. As the first-ever IND for a Protein Splicing gene therapy, it is a huge step forward to demonstrate the potential of this new therapeutic modality to address diseases caused by mutations in large genes such as ABCA4. SB-007 is an adeno-associated viral (AAV) vector gene therapy aimed at restoring expression of the full-length ABCA4 protein, and the only clinical-stage therapy with the potential to help all Stargardt patients. We look forward to accelerating the clinical development of SB-007, building on the Orphan Drug Designation granted by the FDA in 2024, and advancing this potentially life-changing therapeutic for patients with Stargardt disease.”

“Stargardt disease has been a challenge for the development of gene therapies due to the large size of the ABCA4 gene, and currently has no approved therapies available,” said Professor Paul Yang, M.D., Ph.D., Chief of the Paul H. Casey Ophthalmic Genetics Division at Casey Eye Institute at Oregon Health & Science University. “This new therapy utilizes a unique approach to replace the full-size, normal ABCA4 protein at high efficiency, which addresses the root cause of Stargardt disease across any pathogenic variant in the ABCA4 gene. This IND clearance represents a major milestone in the field and I am thrilled to be part of the clinical studies exploring this promising approach that could transform the lives of Stargardt disease patients.”

SpliceBio plans to initiate enrolment in the Phase 1/2 ASTRA study in the first half of 2025. ASTRA will evaluate the safety and efficacy of a single dose of SB-007 administered subretinally in patients with Stargardt disease. In March 2024, SpliceBio launched the POLARIS trial, a pioneering company-sponsored natural history study of Stargardt disease designed to evaluate disease progression, refine endpoints, and streamline eligibility criteria for accelerated enrolment into the Phase 1/2 ASTRA study. This study will enable Stargardt disease patients to benefit from more precise diagnoses, more rigorous disease monitoring, and potentially faster access to innovative therapies.

The SpliceBio Management team will be attending J.P. Morgan’s 43rd Annual Healthcare Conference 2025, being held in San Francisco from 13-16 January 2025. Please get in contact to schedule a meeting at bd@splice.bio.

About Stargardt disease
Stargardt disease is the most common form of inherited juvenile macular degeneration, affecting approximately 1 in 8,000 to 10,000 individuals. Caused by mutations in the ABCA4 gene, Stargardt disease leads to the progressive loss of central vision due to damage to the central region of the retina known as the macula. The disease is variable in the age of onset, including early onset in children and adolescents and late-onset forms in adulthood. There are no approved treatments, and patients face significant challenges in daily life as the disease progresses. Stargardt disease has remained elusive to genetic medicines due to the large size of the ABCA4 gene.

About SB-007
SB-007 is a Protein Splicing dual AAV gene therapy that delivers the full-length ABCA4 gene and aims to restore expression of the native ABCA4 protein in the retina. It has demonstrated robust pharmacological activity in animal models of Stargardt disease and durable expression and safety in non-human primates. SB-007 has been granted Orphan Drug Designation by the FDA in the US and the European Commission in Europe.

About SpliceBio
SpliceBio is a genetic medicines company pioneering Protein Splicing to address diseases caused by mutations in large genes. The Company’s lead program, SB-007, targets the root cause of Stargardt disease, a genetic eye disease that causes blindness in children and adults. SpliceBio’s pipeline comprises additional gene therapy programs across therapeutic areas, including ophthalmology and neurology. SpliceBio’s platform is based on technology developed in the Muir Lab at Princeton University after more than 20 years of pioneering intein, Protein Splicing, and protein engineering research. For additional information, please visit www.splice.bio.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in therapeutics, medtech and digital health, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

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