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NORTHWOODS Energy announces its acquisition of SM ENERGY’S Powder River Basin Assets for $500 million

Apollo Global

DENVER, CO and NEW YORK, NY – January 10, 2018 – Northwoods Energy LLC
(“Northwoods” or the “Company”) (formerly known as Converse Energy), a portfolio company
of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO)
(“Apollo”), today announced it has agreed to acquire SM Energy’s core Powder River Basin assets.
The acquisition is comprised of over 112,200 predominantly contiguous net acres of leasehold in
Converse, Campbell, and Johnson counties in Wyoming.
Northwoods is led by Chief Executive Officer Tom Tyree, who has extensive experience in the
acquisition and development of upstream oil and gas properties in the Rocky Mountains, Marcellus
Shale, and Barnett Shale. Mr. Tyree was Co-Founder, President, and CFO of Vantage Energy from
2006 to 2016. He is currently on the board of directors of Bonanza Creek Energy and served as
CFO of Bill Barrett Corporation prior to Vantage Energy. The Apollo funds, including Apollo
Investment Fund VIII and Apollo Natural Resources Partners II, have committed to invest up to
an aggregate of $850 million in Northwoods.
Mr. Tyree said, “Northwoods is excited to be working with Apollo to build a leading Powder River
Basin-focused independent E&P business. We believe the basin has some of the best geology of
any play in the Lower 48 and that Northwoods has a tremendous opportunity to develop this highly
contiguous, core acreage position.”
Geoff Strong, Senior Partner at Apollo, said, “We look forward to working with Tom as
Northwoods seeks to become a best-in-class Powder River Basin operator. Northwoods’ acreage
position creates a solid foundation from which the Company can build significant scale in the
region.”
Tudor, Pickering, Holt & Co. advised the buyer. Vinson & Elkins acted as legal advisor to the
buyer.

About Northwoods Energy LLC
Northwoods Energy LLC is an upstream oil & gas company based in Denver, CO and focused on
the Powder River Basin. Northwoods is backed by investment funds affiliated with Apollo Global
Management and the Northwoods management team, and is led by Chairman and Chief Executive
Officer Tom Tyree.

About Apollo Global Management, LLC
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles,
Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg,
Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of
approximately $242 billion as of September 30, 2017 in private equity, credit and real estate funds
invested across a core group of nine industries where Apollo has considerable knowledge and
resources. Apollo’s team has extensive experience investing in the Natural Resources industry and,
since 2001, certain of Apollo’s flagship private equity funds, have invested or committed to invest
approximately $12.2 billion in 34 natural resources-related opportunities (as of September 30,
2017). Greg Beard, Apollo’s Head of Natural Resources, leads a team of approximately 20 private
equity professionals focused on identifying value-oriented corporate carve-outs, asset
acquisitions/build-ups and distressed investments across the energy and metals and mining markets
globally. For more information about Apollo, please visit www.agm.com.
Forward Looking Statements

This press release may contain forward looking statements with respect to Apollo that are within
the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements include, but are not limited to,
discussions related to Apollo’s expectations regarding the performance of its business, its liquidity
and capital resources and the other non-historical statements contained herein. These forwardlooking
statements are based on management’s beliefs, as well as assumptions made by, and
information currently available to, management. When used in this press release, the words
“believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to
identify forward-looking statements. Although management believes that the expectations
reflected in these forward-looking statements are reasonable, it can give no assurance that these
expectations will prove to have been correct. These statements are subject to certain risks,
uncertainties and assumptions. We believe these factors include but are not limited to those
described under the section entitled “Risk Factors” in Apollo’s Form 10-K filed with the Securities
and Exchange Commission (“SEC”) on February 13, 2017, as such factors may be updated from
time to time in Apollo’s periodic filings with the SEC, which are accessible on the SEC’s website
at www.sec.gov. These factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included in this press release and in other
SEC filings. We undertake no obligation to publicly update or review any forward-looking
statements, whether as a result of new information, future developments or otherwise, except as
required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts
For investor inquiries regarding Apollo:
Gary M. Stein
Head of Corporate Communications
212-822-0467
gstein@apollolp.com

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KKR Closes $2.0 Billion Real Estate Partners Americas II Fund

KKR

NEW YORK– KKR, a leading global investment firm, today announced the final closing of KKR Real Estate Partners Americas II (“REPA II” or the “Fund”), a $2.0 billion fund dedicated to value add and opportunistic real estate investments primarily in the U.S.The Fund includes approximately $230 million of capital from KKR’s balance sheet and employee commitments.

REPA II is the successor fund to KKR Real Estate Partners Americas (“REPA I”), KKR’s first dedicated real estate fund, which completed fundraising in December 2013 with $1.5 billion in capital commitments and has already returned more than 70 percent of its capital to investors. REPA I is fully committed.

“Since the inception of our real estate platform, we have leveraged KKR’s sourcing channels, access to underwriting information, and operational expertise to create strong value-driven real estate investments. Seven years later, we are proud of our progress in scaling both our real estate equity and credit strategies to create differentiated investment opportunities for our investors,” said Ralph Rosenberg, Member and Global Head of KKR Real Estate.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, financial institutions, foundations, endowments, family offices, and high net worth individual investors.

“We are pleased to have the backing of many investors from around the world who share in our enthusiasm for REPA II, helping us surpass our initial target for the fundraise – a testament to the strength of the KKR Real Estate team and the KKR franchise,” said Suzanne Donohoe, Member and Global Head of KKR’s Client and Partner Group.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed over $5 billion in capital across more than 60 real estate transactions in the U.S., Europe and Asia as of September 30, 2017. The global real estate team consists of over 50 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic manager partnerships, hedge funds. KKR aims to generate attractive investment returns 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 its partners’ capital 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. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

KKR
Kristi Huller or Cara Kleiman Major
+1 212-750-8300
media@kkr.com

Source: KKR & Co. L.P.

 

 

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Kinnevik supports the proposed merger Tele2

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it supports the proposed statutory merger between Tele2 and Com Hem (the “Merger”). When the Merger has been completed, Kinnevik will become the largest shareholder in the combined company (“Enlarged Tele2”), holding 27.3 percent of the shares and 41.9 percent of the votes.

The completion of the Merger is subject to, inter alia, approval by the shareholders of each of Tele2 and Com Hem at their respective Extraordinary General Meetings, which are currently expected to be held during the second half of 2018, as well as necessary authority approvals.

Kinnevik is today the largest shareholder in both Tele2 and Com Hem, holding in aggregate 30.1 percent of the shares and 47.6 percent of the votes in Tele2, and 18.7 percent of the shares and votes in Com Hem.[1] Kinnevik supports the proposed Merger and has undertaken to vote in favor of the Merger at the respective company’s Extraordinary General Meeting and not to sell any shares in Tele2 or Com Hem (or in Enlarged Tele2) up until six months after completion of the Merger, subject to customary conditions. In addition, Kinnevik has committed to participate in the European Commission’s merger control procedure, and is prepared to effect pro-competitive measures, if required, to complete the Merger.

Joakim Andersson, CFO and acting CEO of Kinnevik during 2017, commented:

“As the largest shareholder in both Tele2 and Com Hem, we are fully supportive of the proposed Merger. We continuously evaluate strategic options for our investee companies and are excited about the creation of a leading integrated operator in the Swedish market. Enlarged Tele2 will be very well positioned to act as a customer champion in an integrated world and the combination’s synergies should lead to meaningful value creation for all shareholders.”

Georgi Ganev, CEO of Kinnevik and proposed Chairman of Tele2, commented:

“TMT is a sector in rapid change with customers seeking seamless connectivity and digital services, and we believe Enlarged Tele2 will be in a strong position to meet those demands. Building digital consumer businesses that make a positive difference to peoples’ lives is core to Kinnevik’s strategy. The Merger will provide Swedish consumers with compelling customer solutions and address the explosive growth in fixed and mobile data consumption underpinned by accelerating video demand. Kinnevik is proud to become the largest shareholder of the combined company.”

For further information about the financial details of the Merger and the combined company, please refer to the press releases issued by Tele2 at www.tele2.com and Com Hem at www.comhemgroup.se.

LionTree Advisors acted as financial advisor to Kinnevik on this transaction.

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.15 CET on 10 January 2018.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

 

 

[1] Ownership figures includes treasury shares.

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Northzone leads $12m investment in Red Points

Northzone

Red Points, the smart solution to digital content piracy and online counterfeits, has closed a $12 million Series B round led by European VC Northzone. Previous investors Mangrove and Sabadell Venture Capital also participated in the round.

Intellectual Property (IP) infringement is a huge global issue. According to the OECD, trade in counterfeit goods was valued at USD 0.5 trillion in 2015, amounting to 2.5% of global trade. In addition, the growth of digital properties has led to an expanding problem for brand owners in securing copyright protection across a proliferation of third party sites.

Barcelona-based Red Points has developed a unique cloud-based SaaS solution for IP infringement detection and removal. Founded by Josep Coll, who shortly after brought in David Casellas as co-founder and VP Sales, and with Laura Urquizu joining as CEO in 2014, the company’s easy-to-use platform enables clients to automate counterfeit and piracy identification and take down. This is achieved through an advanced keyword-monitoring system with image recognition to detect IP infringements wherever they occur. Thanks to machine-learning features, Red Points’ clients can rely on ever-evolving online protection that learns from their account history and identifies new threats to be removed. This reduces loss of sale, quality distortion, price erosion, and brand dilution for its customers.

CEO Laura Urquizu comments: “Technology is our weapon against the spread of online IP infringements worldwide. We invest heavily in cutting-edge systems for efficient and cost-effective detection, validation and enforcement of all types of online violation, and provide actionable business insights to brand owners. We currently remove more than 200,000 incidents of illegal products and content every month for brands and media companies on marketplaces, social apps and websites – with an efficiency rate of 96%”.

In 2017, Red Points achieved an impressive annual growth rate of 350%, and extended its customer base from 100 to 300 clients worldwide, with particular traction in Europe and the United States. To further leverage its strong US growth, Red Points will open an office in New York in February 2018.

Laura Urquizu adds: “With this new funding round, we will expand our global business operations in the US and Europe. Red Points is changing the game in online IP protection. We want to enable any brand, anywhere in the world, to stop the risk of piracy or counterfeiting damaging their consumers and reputation.”

Northzone’s Partner, Jessica Schultz comments: “The online counterfeit market moves very fast. There is a clear gap in the market for a technology solution that is scalable and flexible to the demands of the brand owners, and has strong relationships with the online properties where IP infringements are a problem. When we met the Red Points team, we were impressed with what Laura and her team had built. Thanks to their SaaS model and a product that is highly effective and at the leading edge of innovation, we believe they have a real competitive advantage compared to service-led offerings. Fundamentally, this is about empowering brand owners to protect what’s rightfully theirs. What Red Points has achieved to date is impressive, and the success is seen in the feedback from their current customers and global growth. Opening a US office is the next natural step, and we are excited to work with Laura and the Red Points team in building their global IP-infringement prevention solution.”

David Waroquier, partner at Mangrove Capital Partners states: “Red Points is disrupting the way piracy and counterfeiting are being detected and resolved over the internet. The combination of a robust technology and an impressive team led by Laura Urquizu provides a highly efficient solution to manage what has become a huge and persistent pain for the industry globally. Their client’s successes to date and business acceleration shows that Red Points is consolidating its leadership position IP infringement detection and removal.”

 

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Hg announces investment in MeinAuto.de

HG Capital

Hg has announced today an investment in MeinAuto.de (‘MeinAuto’), a leading B2C online platform for new car purchases based in Germany. The terms of the transaction were not disclosed.

MeinAuto was founded in 2007 and is headquartered in Cologne with over 70 employees. The Company is one of Germany‘s leading online platforms for new car sales with over 16 million visitors per year and more than 9,000 dealers connected.

The investment is the first step in an initiative by Hg to develop a new integrated and technology enabled service provider in the automotive distribution & financing space. This initiative is the result of considerable sector work undertaken by Hg in recent years in the automotive services and software spaces, including prior investments in Zenith (vehicle leasing services), Epyx (an electronic network serving vehicle fleet operators and repair shops), Eucon (a platform for automotive parts pricing data) and Parts Alliance (a buying group and distribution network for after-market car parts).

Justin von Simson, Managing Partner and Head of the Munich Office at Hg, said: “We are delighted to partner with the management team of MeinAuto who have worked tirelessly over the last ten years to make the platform a true champion in the online automotive distribution space. As the online channel is gaining more and more importance for car distribution, we are excited about the opportunities that lie ahead for the business and together with the management team look forward to taking the platform to the next level of its evolution.”

Florian Wolff, Director at Hg, commented: “The automotive distribution sector is experiencing a fundamental change. We believe this creates a strong opportunity for MeinAuto given its clear and differentiated value proposition which has allowed the business to build a strong position in the sector. Hg firmly believes in the potential of MeinAuto to leverage its value proposition to further develop and grow the platform in the future. The investment is a perfect example for our approach in partnering with strong entrepreneurs and backing them to scale high-quality technology businesses.”

Alexander Bugge, Founder and Co-CEO at MeinAuto said: “In Hg we have found the right partner to take our company forward to its next level of development. Hg has deep sector knowledge and an excellent track record of building strong sustainable platforms.”

Thomas Eichenberg, Co-CEO at MeinAuto added: “We are confident that, together with Hg, we will be able to provide even better experience to our customers and further expand our offering.”

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Cinven to sell Northgate Public Services Limited to NEC Corporation

Cinven

International private equity firm Cinven announces that it has agreed to sell Northgate Public Services Limited (‘NPS’ or ‘the Group’) to Tokyo Stock Exchange listed NEC Corporation (‘NEC’, TSE: 6701) for a total consideration of £475 million.

Acquired by Cinven in December 2014, NPS is a leading provider of mission-critical software and Intellectual Property-led services to the public sector in the UK, Australia and Canada. The Group is headquartered in the UK and has more than 2,000 staff worldwide.

NEC is a leader in the integration of IT and network technologies that benefit businesses and people worldwide. The acquisition by NEC is set to deliver significant growth opportunities to NPS capitalising on NEC’s biometric and artificial intelligence technology as well as its global network across North America, Asia Pacific (‘APAC’) and other regions.

David Barker, Partner at Cinven, said:

“The sale of NPS has been achieved despite a challenging UK public spending environment; NPS has been able to deliver cost-effective services that greatly improve the collaboration and efficiencies of public sector organisations.

“This transaction will enable the enlarged Group to offer a wider set of software and services to its existing clients and to expand both geographically and by sector. I look forward to working with the NPS and NEC teams to make a success of the combination.”

Steve Callaghan, Chief Executive of NPS, commented:

“Our team has worked incredibly hard over the past two years to transform the Group operationally and financially, ultimately making NPS a highly attractive asset to NEC. We see this as the beginning of our next phase of development as we capitalise on the technical capabilities and market access provided by NEC. It’s an exciting time to be part of NPS.”

Completion of the transaction is expected by the end of January 2018. The transaction follows Cinven’s other recent realisations, including CeramTec, a leading global manufacturer of high performance ceramics (October 2017), and CPA Global, a leading Intellectual Property management and technology company (August 2017).

Cinven was advised on this transaction by DC Advisory (M&A), KPMG (financial), Freshfields Bruckhaus Deringer (legal), Deloitte (tax) and OC&C (commercial).

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Ardian sells its stake in RGI to Corsair Capital

Ardian

Milan, January 9, 2017 – Ardian, a world-leading private investment house, together with the Founding Partner Paolo Benini and the top management, today announces the sale of a 100% stake in RGI, EMEA leading provider of software products and technology services to the insurance industry, to Corsair Capital.

Founded in 1987, RGI specialises in software development for insurance companies, covering the entire spectrum of insurance policy management through the provision of software and advisory services. The Group has a leading position in the European market with 100 clients including the world’s most prominent insurance companies to which it also offers application maintenance services. RGI employs around 800 people in EMEA.

Following Ardian’s profit sharing policy, the employees of RGI will receive a bonus for their valuable contribution to this success story. Ardian invested in RGI in 2014 in order to support the company in its international growth to become a ‘global company’. In 2016 RGI acquired a 100% stake in Kapia Solutions SAS, a French company operating in the same sector with a focus in the Life Insurance segment.

Corsair Capital is a leading private equity firm focused on the financial services industry and will be making a long-term strategic investment in RGI, which is well-positioned for growth in the attractive insurance technology industry.

Vito Rocca, CEO of RGI, stated: “I sincerely thank Ardian and the whole team of professionals for their important support to our international growth. Throughout its history, RGI has shaped the insurance industry as a digital influencer and we are confident that Corsair Capital will continue to foster our expansion into European markets and help us continue to deliver excellent service to our customers.”

Paolo Bergonzini, Head of Ardian Expansion in Italy, commented: “We have supported with passion the development of RGI’s business over the last three years. Together we have had much success thanks to RGI leadership in the reference sector and to its top management, with whom we have always had a relationship of trust and collaboration.”

Corsair Capital Managing Director, Raja Hadji-Touma, said: “We believe that the insurance industry has an increasing need for high quality core system solutions that help insurers streamline and digitise business critical processes. RGI’s comprehensive and modular offering has been widely recognized by clients and industry participants as a leading solution in the insurance market.  We are looking forward to working hand-in-hand with RGI’s management to further develop and expand RGI’s business opportunities internationally through our long-term strategic investment.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America 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 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 610 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT RGI

RGI is one of the leading providers of core systems to the insurance market, providing a comprehensive and modular offering which addresses core insurance processes including policy administration, market management, and sales and distribution. With a team of 800 professionals specialised in IT and insurance, and operating from 12 offices in Italy, Ireland, France, Germany, Tunisia and Luxembourg, RGI has digitised the business of more than 100 insurance companies and 300 brokers across different geographies.

www.rgigroup.com

ABOUT CORSAIR CAPITAL

Corsair Capital LLC, which includes a highly regarded private equity platform, is a leading investor in the financial services industry. Corsair Capital has invested across a range of geographies and in substantially all of the subsectors of the broad financial services industry including wealth & asset management, payments & financial technology, banking & specialty finance, insurance, and services. Corsair Capital has completed $7.6 billion in equity investments since its founding.

 

INVOLVED PARTIES

ARDIAN

M&A advisor: GCA Altium
Vendor due diligence legale: Gattai, Minoli, Agostinelli & Partners
Vendor due diligence fiscale: CBA
Vendor due diligence contabile: PwC
Vendor due diligence ESG: Indefi

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Diam Group refinances its debt

Ardian

Paris, 9 January 2018 – DIAM Group, the world leader in merchandising for luxury retail and cosmetics, today announced that it has refinanced its bank and bond debt that was arranged in September 2016 following the acquisition by Ardian, its management team and BNP Développement. Financing for the acquisition was provided by BNP Paribas, CIC, Société Générale, Banque Palatine and OFI ZenCap.

The newly-raised financing is structured around a bank debt with three tranches (Term Loan A, Term Loan B, Term Loan C) in addition to a capex line, an acquisition line and a revolving credit facility. Alongside its existing financing partners, the Group is delighted to welcome three new institutional lenders: Aviva, Allianz and Banque International à Luxembourg.

Michel Vaissaire, CEO of DIAM Group, said: “This accretive transaction for the management gives DIAM a strong financing structure to continue its growth. We have been investing heavily for several years, both at an organic level, adding two to three greenfields to our portfolio per year; and through acquisitions, three of which have taken place over the last two years. Strengthening our pool of financial partners in this high-growth environment is therefore key to reinforce our strategic agility.

With the continued support of the Ardian team, led by Arnaud Dufer, as well as the new banking pool, both supporting our strategy, we have all the elements in place to continue our development and provide our clients with the best service”.

Arnaud Dufer, Head of Expansion France at Ardian, added: “Since Ardian’s investment in the Group, DIAM has continued on its strong growth trajectory. We have supported DIAM’s management team and its CEO, Michel Vaissaire, in numerous initiatives, including the opening of new production sites in Europe, Asia and North America, and the acquisition of two companies, based in China and in France, which have provided DIAM with a portfolio of new and complementary activities. After only 15 months, the refinancing operation is a strong signal of the all the trust we all have in the company and its teams”.

 

ABOUT DIAM GROUP

With revenues exceeding €300m in 2017, DIAM is the world leader in merchandising solutions for the luxury retail and cosmetics segments. In the last few years, DIAM has grown through international expansion (with a presence in 25 countries) and by broadening its offer to provide better support to its clients. DIAM is a key player in the creative design, production and installation of merchandising solutions for cosmetics and luxury brands (Chanel, Clinique, Dior, Estée Lauder, Cartier, L’Oréal, Lancôme, Clarins, LVMH, Shiseido, Coty, P&G, etc.).

www.diaminter.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America 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 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

 

LIST OF PARTIES INVOLVED

Ardian: Arnaud Dufer, Alexis Lavaillote, Caroline Pihan
Legal, financing and tax advisor: DLA Piper (Xavier Norlain, Matthieu Lampel, Maud Manon)
Financial advisor: Grant Thornton (Gregory Volpi, Jonathan Happi)
BNPP: Florent Launay, Guenaelle Kerever
CIC: Jérôme Salmon, Camille Laurent
Société Générale: Olivier Amicel, Stéphanie Kordonian
Banque Palatine: Hervé Rinjonneau, Alexis Nef
OFI ZenCap: François Caulry, Hervé Goigoux-Becker
Aviva: André Goncalvez, Benoit Faguer
Allianz: Damien Guichard, Alexandra Tixier
BIL: Julien Ruggeri, Bounouar Sayoud

PRESS CONTAC

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Apex’s acquisition of M.M.Warburg & CO’s Asset Management

Apex, Genstar and SALU Capital jointly announce Apex’s acquisition of M.M.Warburg & CO’s Asset Management and Servicing Business in Luxembourg

Apex’s Third Acquisition in Six Months Will Add $50bn in Assets under Administration and Custody (“AuA” and “AuC”) Bringing Apex Closer to Achieving its Goal of Becoming one of the Top 5 Largest Administrators Globally

HAMILTON, BERMUDA, SAN FRANCISCO, and NEW YORK (January 8, 2018) – Apex Group Ltd. (“Apex”), Genstar Capital (“Genstar”), and SALU Capital (“SALU”), today jointly announce Apex’s acquisition of M.M.Warburg & CO’s Asset Management and Servicing business in Luxembourg (“Warburg”). Upon completion of the transaction, Apex, a Genstar portfolio company, will have nearly $350 billion of AuA.

The transaction is the third for Apex in the space of six months following the acquisition of both Equinoxe Alternative Investment Services and Deutsche Bank’s Alternative Fund Services business in 2017. This latest move reaffirms Apex’s position as the fastest growing fund administrator in the world and brings it closer to achieving its goal of becoming one of the top five largest fund administrators globally. Apex and Genstar partnered with SALU Capital, led by Managing Partner Markus Philipp Ehrhardt, whose market knowledge and network was instrumental in the successful origination and execution of the transaction.

The transaction will see Warburg Invest Luxembourg S.A. and M.M.Warburg & CO Luxembourg S.A. become part of Apex, adding a further $50bn to Apex’s global AuA. The Group’s unique operating model and globally connected service provision opens up additional jurisdictional expertise and investment options to Warburg clients.

The full depositary services and private equity depositary solutions provided by the Warburg Luxembourg units brings will add further weight to Apex’s strength in delivering a complete service to European regulated funds, and will further complement the services integrated via the Deutsche Bank AFS acquisition.

Parent company, M.M. Warburg & CO (AG & Co.) KGaA, and Apex will form a strategic partnership for Luxembourg based asset management services businesses whilst Warburg Invest (Germany) will also continue to focus on its German asset management business.

Terms of the agreement are not being disclosed. The transaction is subject to customary closing conditions, including regulatory approval and is expected to be completed in the second quarter of 2018.

“The addition of the Warburg team and product suite further strengthens our capabilities in the highly regulated European market as we continue to develop the most complete service offering in the sector. There are benefits for both the transitioning Warburg clients and existing Apex clients in this combined offering and as we continue to grow we want to help them to grow with us,” stated Peter Hughes, Founder and CEO at Apex.

Joachim Olearius, Spokesman for the Partners of M.M.Warburg & CO, stated, “In Apex we have found a partner for this transaction that perfectly meets the requirements and expectations of our customers. Apex’s independence and unfailing dedication to delivering exemplary service to its clients means we can be confident that the transition will be smooth and service levels maintained. Our continued commitment to working closely with Apex as a strategic partner aptly demonstrates our trust and confidence in this combination.”

“With our first deal, we are proud to be part of this significant transaction with strategic partners of the caliber of Apex and Genstar, and with a seller as reputable as M.M. Warburg & Co, proving our ability to originate and execute on complex investment opportunities,” says Markus Philipp Ehrhardt, Managing Partner of SALU Capital.

Willkie Farr & Gallagher LLP and Arendt & Medernach provided legal counsel to Apex and Genstar.

About Apex Group  

Apex, established in Bermuda in 2003, is one of the world’s largest independent fund administration and middle office solutions providers with offices in 35 locations worldwide. Apex has continually improved and evolved its product suite by surrounding these core administrative services with additional products spanning the full value chain; from information delivery and regulatory products to a full middle office solution and fund listings database. Apex now administers the investments of some of the largest funds and institutional investors in the world. www.apexfundservices.com

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for nearly 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $9 billion and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries. Genstar’s current and previous investments in financial and business services companies include Ascensus, AssetMark, Strategic Insight, Mercer Advisors, Institutional Shareholder Services and Altegris.

About SALU Capital

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AURELIUS subsidiary Conaxess Trade Norway acquires Galleberg AS

Aurelius

  • Strategic add-on acquisition doubles revenues of Conaxess Trade Norway to more than 45 million euros
  • Increased market share and new distribution channels

Søborg (Denmark) / Skedsmokorset (Norway), January 8, 2018 – The Conaxess Trade Group, an exclusive distributor of fast moving consumer goods (FMCG) to large-scale retail organizations in Europe, acquires Galleberg AS, one of Norway’s leading distributors of brands to grocery, convenience, horeca and health- / lifestyle shops. The company is headquartered in Skedsmokorset near Oslo, vendor of Galleberg is the Styrmoe family. This add-on acquisition nearly doubles the size of Conaxess Trade Group in Norway to more than 45 million euro in revenues per year and aims at increasing the market share in Norway by expanding its FMCG portfolio and exploring new distribution channels based on strong sales capabilities. Olaf J. Styrmoe, owner and Chairman of Galleberg will join the Board of Directors of the combined company and bring in his expertise regarding brand owners and customers. The financial terms of the deal are undisclosed.

Conaxess Trade employs around 500 employees across Denmark, Sweden, Norway, Finland, Switzerland, Austria and Germany and is operating as an exclusive distributor within FMCG reaching more than 130 million consumers, handling marketing, sales as well as physical distribution for many strong brands. Since 2016, Conaxess Trade is a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8).

Nils Haase, Vice President of AURELIUS and responsible for the realignment of Conaxess Trade: “We are very pleased about Conaxess’ acquisition of Galleberg. The deal provides Conaxess with additional market expertise, and will strengthen its market position to offer even better services to our brand owners. Furthermore, we are confident that Conaxess will also benefit from synergy effects of this add-on acquisition.“

Olaf J. Styrmoe, owner and Chairman of Galleberg AS: „Conaxess’ acquisition of Galleberg is of course a turning point. It marks the end of 95 years of successful family business. Likewise, it is the beginning of a promising future that opens up new perspectives to our employees and continued growth for our brand owners.”

 

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