Category Archives: News

Stonepeak Launches European Renewable Land Aggregation Platform JouleTerra

Stonepeak

Investments in Electric Land and Solaria’s Generia Land represent the Platform’s inaugural transactions

NEW YORK – July 28, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the creation of JouleTerra, a land aggregation platform (“JouleTerra” or “the Platform”) dedicated to building a diversified portfolio of grid-connected sites with the ability to support the development of critical renewable energy infrastructure across Europe.

Through JouleTerra, Stonepeak will acquire and lease land to renewable operators under long-term contracts, allowing them access to land they would have otherwise had to procure and develop themselves through capital-intensive processes. Stonepeak intends to grow the Platform over time through acquisitions of both existing platforms and undeveloped land, for which it will secure appropriate permitting and grid connections until the land becomes ready-to-build. The firm’s two previously announced investments in Electric Land and Solaria’s Generia Land represent the Platform’s inaugural transactions.

Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak, said, “While we continue to see surging demand for renewable energy generation across Europe, the availability of grid-connected, development-ready land able to support this infrastructure buildout continues to lag. Through JouleTerra, we are excited to broaden the availability of this critical resource, leveraging our extensive expertise in platform building and renewable energy investing to effectively support the renewables value chain.”

He added, “JouleTerra represents a compelling, first-mover opportunity for Stonepeak as platforms of this nature backed by a global network such as ours do not yet exist in Europe at scale. We look forward to expanding the Platform and playing a meaningful role in the development of critical energy transformation-related infrastructure in Europe over the long-term.”

Stonepeak has significant experience building and scaling platforms to support global energy transformation, employing an all of the above approach to investing in energy infrastructure. Select examples include Peak Energy, Synera Renewable Energy, and TerraWind Renewables, which are all dedicated to the development, ownership, and operation of renewable assets in Asia. Stonepeak has also supported the development and operation of distributed solar generation assets in North America through its platform Madison Energy Investments, which the firm fully realized in 2023. The two most recent platforms Stonepeak has launched are Lestari Cooling Energy, the firm’s joint venture with KJTS in Malaysia which will be dedicated to developing and investing in district cooling facilities in Southeast Asia, and Longview Infrastructure, a North American transmission development and investment platform.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

Contacts

For Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

 

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Dataciders strengthens its Data & AI center of excellence and expands its technology portfolio through the acquisition of integration-factory

Rivean
  • Enhanced capabilities in data platforms, data governance & master data management
  • Expanded industry focus on financial services, energy, and manufacturing
  • Strategic addition of Informatica and MetaKraftwerk partnerships
  • Fifth add-on acquisition since Rivean Capital’s entry in January 2024

Dortmund/Frankfurt am Main – Dataciders Group, a leading provider of Data & AI solutions in the German-speaking region, has acquired the IT services provider integration-factory, which specializes in data management and artificial intelligence, with headquarters in Frankfurt am Main and an additional location in Leipzig. This marks the group’s fifth add-on acquisition since Rivean Capital’s entry in January 2024.

integration-factory offers end-to-end consulting in the Data & AI space, with a strong focus on data integration, advanced analytics, data governance, and master data management. Its meta-data-based development automation enables clients to realize significant efficiency gains and time savings.
The company focuses on the financial services, energy, and manufacturing sectors. Long-standing clients include DZ Bank, European Energy Exchange, enercity, and Böllhoff Group.

“What unites us with integration-factory is a shared vision: to make the implementation of data management platforms more efficient and agile through automation. This empowers clients to realize significant time and cost savings while responding more swiftly to market dynamics. The partnership with Informatica, a global leader in data management, is a strong strategic fit that further strengthens this approach,” says Dr. Gero Presser, CEO of Dataciders.

“I’m looking forward to opening a new chapter for integration-factory as part of Dataciders. Joining the group unlocks exciting opportunities – for our employees, our clients, and our partners. Our service portfolio is a strong complement to Dataciders’ extensive Data & AI offering. Together, we are creating a powerful platform with significant potential for innovation, growth, and value creation. The speed and efficiency we have built in data platform development can now benefit a broader client base across the group. I’m confident this merger delivers meaningful advantages for all stakeholders – professionally, technologically, and culturally,” says Stefan Sander, founder and CEO of integration-factory.

Buy-and-build strategy by Rivean Capital

“With the acquisition of integration-factory, we are taking the next step in evolving Dataciders into the leading Data & AI platform provider in the DACH region. The market for data-driven solutions is expanding rapidly, driven by megatrends such as digitization, cloud transformation, and generative AI. In this dynamic environment, it is essential to combine cutting-edge technological capabilities with deep industry expertise – and this is precisely where integration-factory stands out, thanks to its distinctive approach and long-standing customer relationships,” says Matthias Wilcken, Senior Partner at Rivean Capital.

About Dataciders
Dataciders is a leading IT services group offering end-to-end Data & AI solutions, primarily serving long-standing enterprise customers incl. DAX40 companies. The group’s end-to-end Data & AI capabilities cover data strategy, enterprise application integration, software engineering, data management, business intelligence and analytics, as well as data science and AI. Headquartered in Dortmund (Germany), Dataciders employs more than 800 FTEs across 11 locations in Germany, Austria, and Bulgaria.

About Rivean Capital
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage assets of over EUR 5 billion. In addition to Dataciders, Rivean Capital’s investments in Germany include Green Mobility Holding, ]init[, Perbility, Best4Tires, and TonerPartner.

More information: www.riveancapital.com

Press Contact: Ralf Geissler Jahrreiss Communications

E-mail: ralf@jahrreiss.com Phone: +49 89 30 90 52 95 20

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KKR Launches Tender Offer for Topcon

KKR

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today that it will launch its tender offer (“Tender Offer”) for the common shares and share acquisition rights, etc. of Topcon Corporation (“Topcon” or the “Company”; TSE stock code 7732). The Tender Offer will be made through TK Co., Ltd. (“Offeror”), an entity owned by the investment funds managed by KKR. The Tender Offer will commence on July 29, 2025 and will run until September 9, 2025.

The Offeror will commence the Tender Offer to acquire all outstanding common shares and share acquisition rights (excluding treasury shares held by Topcon) with a tender offer price of JPY 3,300 per common share and JPY 193,400 per 7th Series Share Acquisition Right.1

Topcon is a global leader in the manufacturing of technology, leveraging its strengths in optical technology and precision measurement technology since its founding. Topcon is expanding its business globally with its unique DX solutions that combine advanced technologies such as IoT platforms and AI. Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its “Mid-Term Management Plan 2025” covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into “New Topcon 2.0,” a business structure that will further accelerate the competitiveness of the Topcon Group.

KKR is making this investment predominantly from its Asian Fund IV. Topcon President and CEO, Takashi Eto, has agreed to tender his shares into the Tender Offer. Following the completion of the Tender Offer, Mr. Eto and funds managed by JIC Capital, Ltd. will invest in KKR-managed investment vehicles that will own Topcon. This series of transactions, including the Tender Offer, constitutes a management buyout. Additionally, funds managed by ValueAct Capital, a major shareholder of Topcon, have also agreed to tender shares in the Tender Offer and invest in KKR-managed investment vehicles that will own Topcon.

For more details regarding the announcement, please refer to the full text of the release issued by the Offeror today titled, “Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation.”

Forward-looking Statements

This press release should be read in conjunction with the release issued by the Offeror today titled “Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation.”

The purpose of this press release is to publicly announce the Tender Offer and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the Tender Offer. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the Tender Offer and make your own decision as a shareholder or share acquisition right holder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the Tender Offer, nor shall it be relied upon in concluding an agreement regarding the Tender Offer.

The Tender Offer will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) or 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules under these sections apply to the Tender Offer; and therefore the Tender Offer is not conducted in accordance with those procedures and standards. In addition, because the Offeror is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against it that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court.

Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. All or a part of the documentation relating to the Tender Offer will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail.

This press release includes statements that fall under “forward-looking statements” as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations.

The Offeror, the financial advisors of the Offeror and the Company, and the tender offer agent (and their respective affiliates) may purchase the common shares and share acquisition rights, etc. of the Company, by means other than the Tender Offer, or conduct an act aimed at such purchases, for their own account or for their client’s accounts, including in the scope of their ordinary business, to the extent permitted under financial instrument exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the Tender Offer period. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure).

If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, the Company may buy back its own shares during the Tender Offer period in accordance with the procedures required by laws and regulations.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

1 7th Series Share Acquisition Rights issued pursuant to a resolution of the Company’s Board of Directors held on June 25, 2021 (exercise period is from April 1, 2024 to March 31, 2029)

Media Contacts

Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Samuel Brustad
+81 90 7094 2523
Samuel.Brustad@kkr.com

Source: KKR

 

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Fidelio increases its ownership in Greenfood

Nordic Capital

Greenfood today announces that Fidelio is increasing its ownership in the group. Fidelio, which has been a long-standing minority shareholder for almost 15 years, now becomes the majority owner. The transaction marks the culmination of a productive partnership with Nordic Capital and paves the way for Greenfood’s accelerated international expansion together with Fidelio.

Fidelio is increasing its ownership in Greenfood by acquiring Nordic Capital’s stake in the group. This marks the beginning of an exciting new phase for Greenfood, a company that has delivered record financial results in 2024 and established a leading position in the healthy food space in Europe and the U.S.

“As a long-standing shareholder, Fidelio has deep conviction in Greenfood’s platform and leadership team. We are excited to build on their strong foundation and to further support Greenfood’s international expansion,” said Theodor Bonnier, Head of Value Creation at Fidelio.

Greenfood has established itself as a leader in healthy, affordable, and sustainable foods across Europe and the US. Since 2016, Greenfood has nearly doubled its revenues to SEK 5.6 billion and, through its foodtech company Picadeli, expanded its presence to ten international markets and 2,100 locations.

Nordic Capital, which became the majority shareholder in 2016, has played a key role in accelerating Greenfood’s expansion, alongside Fidelio. The partnership has enabled Greenfood to strengthen its platform and operations, even in challenging periods such as the pandemic, when certain business areas, like Picadeli, were temporarily impacted by large-scale lockdowns and reduced footfall.

Picadeli has since rebounded strongly, driving rapid growth across Europe and expanding into the U.S. market, where it has established around 150 salad bars through partnerships with major grocery chains, marking a significant step in bringing tech-enabled, healthy fast food to American consumers.

“Together with Nordic Capital and Fidelio, we have created a robust and scalable platform, achieved our best-ever results in 2024, and set new industry standards in digitalisation and sustainability. As we turn this exciting page together with Fidelio, we are confident in our ability to further accelerate growth, foster innovation, and strengthen our positive impact,” said David von Laskowski, CEO of Greenfood Group & Picadeli.

“Greenfood has been transformed into a highly digital and innovative foodtech company that demonstrates how sustainability and profitability can go hand-in-hand. The transformation and growth achieved reflects the best of our operational expertise. Nordic Capital is proud to pass the torch to Fidelio and confident in Greenfood’s continued success,” said Robert Furuhjelm, Partner, Nordic Capital Advisors.

The terms of the transaction were not disclosed. Completion of the transaction is expected in H2 2025, and is subject to customary closing conditions, including relevant regulatory approvals.

The transaction has no impact on Greenfood’s senior secured sustainability-linked bond or its terms and conditions. The company’s capital structure, financial commitments and obligations remain unchanged.

Media contacts:

Greenfood
Magnus Holtinger Wallin
Head of Communications, Greenfood Group
magnus.wallin@greenfood.se

Fidelio
media@fideliocapital.com

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com

About Greenfood
Greenfood is a leading European player creating healthy and sustainable food that is tasty, affordable, and easily accessible. From Picadeli’s self-service salads and ready-made meals to fruits and vegetables directly from farms spread across a large part of the world. Through our three business areas, Greenfood provides fresh, healthy, plant-based food at various stages of processing to customers in convenience and retail, as well as hotels, restaurants, and catering.

About Fidelio
Fidelio combines the professional and active ownership model of traditional private equity, with an entrepreneurial, flexible, and long-term approach to investing. Since inception in 2010, the team has invested in almost 200 companies in more than 20 countries, and the success is built from partnering with entrepreneurs, management teams and fellow co-owners to create global niche market leaders. Together with its partners, Fidelio builds outstanding businesses through the possibilities that come from not having a predetermined investment horizon or geographical restrictions. In addition to the team at Fidelio, capital is provided by a supportive group of successful entrepreneurs and families from Europe and North America. For more information, please visit: www.fideliocapital.com

About Nordic Capital
Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested c. EUR 28 billion in 150 investments. Nordic Capital’s most recent funds are Nordic Capital XI with EUR 9 billion in committed capital and Nordic Capital Evolution II with EUR 2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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EQT and CPP Investments to acquire NEOGOV, a provider of HR and compliance software for U.S. public sector agencies, from Warburg Pincus and Carlyle

eqt

DSC03016

  • The EQT X fund (“EQT”) and Canada Pension Plan Investment Board (“CPP Investments”) have agreed to acquire NEOGOV, which serves over 10,000 public sector agencies with purpose-built government HR and compliance software solutions
  • NEOGOV’s cloud-native solutions support the full employee lifecycle and help public sector agencies drive efficiency and stay compliant with local policies and regulatory frameworks
  • EQT and CPP Investments will partner with CEO Shane Evangelist and the management team to accelerate growth and expansion, building upon their track records in the US software sector

EQT announced today that the EQT X fund (“EQT”) together with Canada Pension Plan Investment Board (“CPP Investments”) have agreed to acquire NEOGOV (the “Company”) from funds managed by Warburg Pincus and Carlyle.

Founded in 2000 and headquartered in El Segundo, California, NEOGOV delivers purpose-built human capital management and public safety solutions to nearly 10,000 public sector organizations across North America. NEOGOV’s cloud-native suite supports the full employee lifecycle – from recruitment and onboarding to performance management and compliance management – while helping agencies stay compliant with local policies and regulatory frameworks.

“Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster,” said Shane Evangelist, CEO of NEOGOV. “Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments’ deep expertise in software and broad network of advisors will be instrumental to supporting NEOGOV’s growth.”

“We are excited to partner with Shane and the NEOGOV team, who are operators at the highest levels. The team brings a deep understanding of the challenges that public sector agencies face, and we’re proud to support a company that has earned such trust in the public sector,” said Arvindh Kumar, Partner and Co-Head of EQT’s Global Technology Team.

Tyler Parker, Managing Director in the EQT Private Equity advisory team, added: “It’s rare to find a software company that is so well-loved by its customers, and we look forward to partnering with NEOGOV to continue to modernize public sector operations and deliver impactful technology to those on the front lines of civic service.”

“NEOGOV is a leading software platform with distinct customer offerings that is poised for growth due to increasing demand from its customers across North America. Together with its strong management team, the Company is a good fit for our strategy to invest in high-quality software companies. We look forward to supporting the Company in this next phase of development alongside EQT and the management team,” said Sam Blaichman, Managing Director, Head of Direct Private Equity, CPP Investments.

With this transaction, EQT X is expected to be 60 – 65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

The transaction is subject to customary conditions and approvals and is slated for completion in the coming months. Moelis & Company LLC served as exclusive financial advisor and Willkie Farr & Gallagher served as legal counsel to NEOGOV. Jefferies LLC served as exclusive financial advisor and Ropes & Gray served as legal counsel to EQT.

Contact

EQT: EQT Press Office, press@eqtpartners.com           
CPP Investments: Asher Levine, Public Affairs & Communications, alevine@cppib.com, T: +1 929 208 7939
NEOGOV: Scott Jensen, Vice President of Marketing, sjensen@neogov.net

 

 

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About EQT
EQT is a purpose-driven global investment organization with €‌​​266​‌ billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, within 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.com.
Follow EQT on LinkedIn, X, YouTube and Instagram

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At March 31, 2025, the Fund totaled C$714.4 billion.

For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

About NEOGOV
Founded in 2000 and headquartered in El Segundo, California, NEOGOV is a leading provider of cloud‑based human capital and compliance management software purpose‑built for the public sector. Its integrated Recruit, Develop, and Manage suite automates every stage of the employee lifecycle—streamlining recruitment, onboarding, talent development, payroll, time & attendance, and policy management for government agencies. Today, more than 10,000 state, local government, and higher education organizations nationwide rely on NEOGOV to attract, hire, develop, and retain talent while staying compliant. The company also operates GovernmentJobs.com—the nation’s largest public sector job board—and includes brands such as PowerDMS and NEOED that extend its platform into public safety and education markets.

For more information, visit www.neogov.com.

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Blackstone Acquires a Modern Logistics Portfolio in Greater Seoul, Continuing Korean Momentum

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Blackstone

SEOUL – JULY 28, 2025 – Blackstone today announced that Blackstone Real Estate Partners (“Blackstone”) has acquired through QUBE Industrial Asset Management funds a high-quality, last-mile logistics portfolio in the Seoul Metropolitan Area.

The portfolio comprises two modern, Grade A logistics centers spanning 1.3 million square feet in Gimpo and Namyangju, which are among Greater Seoul’s most sought-after infill markets. Tenants include some of the largest local and global corporations in e-commerce and logistics.

Chris Kim, Head of Blackstone Real Estate – Korea, said: “This is a continuation of our commitment to investing in prime Korean assets in fast-growing sectors. Logistics is one of our highest conviction investment themes in real estate globally and a focus for us in South Korea, particularly in the Seoul Metropolitan Area where last-mile new supply remains extremely limited and vacancy for such assets is at a low 4% range. We are pleased to bring together our global expertise and scale in the sector, asset management capabilities, and local insights, to continue to grow the platform for long-term success.”

Blackstone has been an active investor in Korean real estate since establishing the team three years ago. Last year, it completed three major transactions, including investing in a large multi-story logistics asset in Gimpo; buying an office building in Seoul’s Gangnam district to convert into a select-service hotel in partnership with Travelodge Asia; and closing the landmark sale of Arc Place after years of work to transform the asset into a premier office building in Seoul.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 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 Contacts
Ellen Bogard
+852 9731 9726
Ellen.Bogard@Blackstone.com

Wendy Lee
+852 9176 6179
Wendy.Lee@Blackstone.com

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Bristol Myers Squibb and Bain Capital Create New Company Dedicated to Developing Innovative Immunology Therapies that Address the Unmet Medical Needs of Patients

BainCapital

  • Five immunology assets in-licensed from BMS with potential to address unmet needs for patients with autoimmune diseases, including late-stage asset for lupus
  • Bain Capital leads $300 million financing commitment

PRINCETON, N.J. & BOSTON, MASS. — Bristol Myers Squibb (NYSE: BMY, “BMS”) and Bain Capital today announced the creation of a new independent biopharmaceutical company (“NewCo”) focused on developing new therapies for autoimmune diseases that address significant unmet needs of patients. The newly-formed company launches with five immunology assets in-licensed from BMS and a $300 million financing commitment that was led by Bain Capital.

The NewCo has a broad pipeline consisting of three clinical-stage and two Phase 1-ready investigational medicines that each target promising mechanisms in autoimmune diseases. The most advanced assets in the NewCo’s portfolio are afimetoran, an oral, potential best-in-class TLR7/8 inhibitor that is currently being studied in a Phase 2 clinical trial for systemic lupus erythematosus (SLE), and BMS-986322, an oral TYK2 inhibitor, which successfully established proof-of-concept in a positive plaque psoriasis Phase 2 trial. Other licensed assets include BMS-986326, a novel, potential best-in-class, IL2 fusion protein that is currently being studied in Phase 1 clinical trials for SLE and atopic dermatitis, and BMS-986481 and BMS-986498, two Phase 1-ready biologics targeting the IL18 and IL10 pathways respectively.

The assets licensed to NewCo reflect the strength of BMS’s scientific innovation and hold promise to address unmet needs for patients with autoimmune diseases. As part of the agreement, BMS will retain a nearly 20 percent equity stake in NewCo and will be entitled to royalties and milestones tied to the success of each asset. Robert Plenge, MD, PhD, Executive Vice President and Chief Research Officer at BMS, will also serve on NewCo’s Board of Directors. This transaction reflects BMS’s strategic shift in Immunology research to focus on assets that have the potential to reset the immune system and promote tissue repair. It also further demonstrates the company’s sharpened strategy to invest in areas where BMS is best positioned to lead, while enabling the continued development of promising medicines.

“These assets have significant potential, and we are confident that this new company will drive their development to ensure greater impact for patients,” said Julie Rozenblyum, Senior Vice President, Business Development at BMS. “Bain Capital’s exceptional track record in building successful life science companies by providing focused development and dedicated resources makes them ideally suited to advance these assets to realize their full promise.”

Daniel S. Lynch will serve as the Executive Chairman of the Company’s Board of Directors and interim CEO. Mr. Lynch is an accomplished biopharmaceutical industry leader with decades of strategic, management and operational experience at companies spanning many stages of growth. Nicholas Downing, MD, Adam M. Koppel, MD, PhD, and Andrew Kaplan from Bain Capital will also join Mr. Lynch and Dr. Plenge of BMS on NewCo’s Board of Directors.

“We are excited to partner with BMS and we share their commitment to improving lives through science,” said Adam Koppel, a Partner at Bain Capital Life Sciences. “We look forward to working together and leveraging our company creation experience to build out this new platform and advance these distinct assets in an effort to bring innovative, high-quality therapies to patients with autoimmune diseases.”

“This is a unique opportunity to build an innovative biotech company with a strong scientific foundation and differentiated development capabilities,” said Mr. Lynch. “I’m thrilled to have the opportunity to leverage my background and experience to contribute to the success of the company as it seeks to develop much-needed new therapies, and I look forward to supporting BMS and Bain Capital in the build-out of the company’s operations.”

Bain Capital is investing in NewCo through its Life Sciences and Private Equity teams, drawing on over 40 years of supporting the growth and innovation of healthcare companies globally. Canada Pension Plan Investment Board also joined the investment.

About Bristol Myers Squibb: Transforming Patients’ Lives Through Science
At Bristol Myers Squibb, our mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We are pursuing bold science to define what’s possible for the future of medicine and the patients we serve. For more information, visit us at BMS.com and follow us on LinkedIn, X, YouTube, Facebook and Instagram.

Bristol Myers Squibb Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products, the creation of NewCo and the agreement with NewCo. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, that the expected benefits of, and opportunities related to, the creation of NewCo and the agreement with NewCo may not be realized by Bristol Myers Squibb or may take longer to realize than anticipated, that the assets described in this press release, may not achieve their primary study endpoints or receive regulatory approval for the indications described in this release in the currently anticipated timeline or at all and, if approved, whether such assets will be commercially successful. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2024, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Media Contacts

 Scott Lessne / Charlyn Lusk

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Ardian enters into exclusive negotiations to sell its majority stake in Artefact

Ardian

Ardian, a world-leading private investment firm, announces it has entered into exclusive negotiations to sell its majority stake in Artefact, a global provider of data and artificial intelligence (‘AI’) consulting services to large, blue-chip enterprises, to Cinven, for an investment valued at over €1 billion.

Established in 2014 and headquartered in Paris, Artefact empowers leading global businesses to navigate technological change and unlock the competitive advantages of data and AI-led transformation. Combining deep expertise in data science and AI, Artefact helps its clients to design and implement innovative, AI-driven strategies, helping to enhance decision-making, drive growth and deliver personalized customer experiences at scale. It works with some of the world’s biggest businesses across a range of sectors, including FMCG, Retail, Luxury, Telecoms, Healthcare, Tourism and Industry.

Since Ardian’s majority acquisition in 2021, Artefact has established itself as a global data and AI services leader. The company has significantly enlarged its footprint across Europe, Asia and the United States, with the opening of 13 new offices. Artefact also continued its vertical and geographical expansion with the acquisition of six companies since 2021. With Ardian’s support, the company has invested in an ambitious recruitment program for new talent, growing from 800 employees in 2021 to 1,700 today in 31 offices across 25 countries. This strategy has strengthened Artefact’s leadership in the Data & AI Consulting market and has translated into a path of continued strong revenue growth.
“In Artefact, we recognized an exceptional management team and a visionary company whose pioneering approach to data has set new standards in the industry. The strength of Artefact’s brand, the outstanding quality of its services, and the expertise of its teams have enabled the company to secure a leading position in a fast-evolving market. Our partnership has supported Artefact in accelerating its growth, expanding its product offering and international presence, and further enhancing its reputation. We are proud to have contributed to this journey and wish the Artefact team continued success in shaping the future.” Marie Arnaud-Battandier, Managing Director, Expansion, Ardian
“Under our ownership, Artefact has also demonstrated a remarkable capacity for innovation. The company established a recognized R&D center, fostering cutting-edge research in AI, and developed a proprietary solution to support the delivery across its clients worldwide. We are proud to have supported Artefact in these strategic initiatives, which have further strengthened its leadership in the Data & AI Consulting market.” Stephan Torra, Managing Director, Expansion, Ardian
“Ardian’s investment in Artefact marked a significant milestone in our company’s history and came at a pivotal as businesses around the world were accelerating their transformation through data and AI. Over the past four years, we have partnered closely together to deliver on our ambitious strategy, broadening our service offering, building an expert team, and expanding our international footprint. I would like to sincerely thank Ardian for their unwavering support throughout this transformative period.” Vincent Luciani, Co-Founder and Executive Chairman, Artefact

Participants

  • Ardian

    • Ardian: Marie Arnaud-Battandier, Stéphan Torra, Leslie Parmast, Badr M’Haidra
    • Advisor: JP Morgan (Augustin d’Angerville, Pieter Himpe, Stéphane Humez, Karim Hammoutene)
    • Corporate Lawyers: Latham & Watkins (Olivier du Mottay, Louise Gurly)
    • Vendor Strategic due diligence: McKinsey (Homayoun Hatami, Alexandre Ménard);
    • Vendor Financial due diligence: Alvarez & Marsal (Frédéric Steiner, Baptiste Rideau);
    • Vendor Legal due diligence (corporate, social, tax): KPMG (Xavier Houard).

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 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 its 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.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

Ardian

Headland

ardian@headlandconsultancy.com

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Ardian Launches Ardian Access SICAV-RAIF, Providing Secondary and Co-Investment Solutions for Global Investors(1)

Ardian

New investment solution to provide clients with exposure and access to Ardian’s global private equity platform and expertise

Ardian, a global private investment firm with $180bn in assets under management & supervision across its private equity, real assets, and private credit platforms, today announced the launch of Ardian Access SICAV-RAIF2  (“Ardian Access” or “the Fund”), an evergreen3 vehicle domiciled in Luxembourg. The Fund will be available around the world1 to professional investors only.

Ardian Access is a differentiated solution for investors looking to access private markets and diversify their existing exposure. The Fund will seek to leverage a highly diversified, global portfolio of private assets managed by GPs across sectors, geographies, and company sizes, aiming to generate long-term value whilst mitigating risk and J-Curve effects.

Through Ardian Access, investors now have flexible access to Ardian’s secondaries, primaries and direct co-investment platforms, which collectively manage close to $110bn in assets under management. Ardian’s secondaries team has executed more than $40bn in secondary transaction volume in the past four years, while its co-investment team has invested alongside sponsors in more than 140 selected portfolio companies to date. Additionally, both teams have managed consecutive generations of diversified portfolios.

Through Ardian Access investors gain exposure to:

  • Ardian’s established secondaries and co-investment strategies, underpinned by a “buy what we know” investment approach focusing on high-quality sponsors and assets, as well as its comprehensive proprietary database spanning more than 650 GPs, 1,600 funds, and 10,000 portfolio companies, which enables Ardian to identify and assess potential opportunities.
  • Ardian’s global secondaries and co-investment teams comprising more than 125 professionals in 20 offices across the globe, which have built robust and trusted partnerships with a broad network of GPs, LPs, and portfolio company management teams.
  • Accessible investment minimums of €100,000 and immediate capital deployment from day one, aiming to maximize compounding and limit cash drag.

Ardian launched the fund in partnership with iCapital, the global fintech platform shaping the future of investing. Ardian will leverage iCapital’s full suite of servicing and technology solutions for evergreen funds to provide wealth managers and their clients with efficient access to alternative investment opportunities via Ardian Access.

“Private clients are an important and fast‑growing group of investors that account for more than half of Ardian’s LPs by number. Ardian Access represents our continued commitment to providing private investors with scalable investment solutions that allow them to take advantage of Ardian’s market leading strategies. Our Private Wealth Solutions team is experiencing significant growth as private investors and wealth managers seek greater exposure to the private markets, and we expect this will continue to grow in the coming years.”  Jan Philipp Schmitz, Executive Vice-President, Ardian

“Secondaries are well suited to private wealth because they provide investors with wide diversification and can generate returns and cash flow quickly given their maturity. We have the world’s largest Secondaries & Primaries platform, run alongside a significant co-investment offer, and this means we can execute the largest and most complex transactions with the highest quality GPs and underlying investments. Over 20% of our latest Secondaries fundraise came through private wealth channels, and we are delighted to be opening up our strategy to even more private investors through Ardian Access.” Marie-Victoire Rozé, Deputy Co-Head of Secondaries & Primaries and Senior Managing Director, Ardian

“We are at an inflection point for private capital, with significant numbers of private investors now able to access private capital to diversify their portfolios and generate attractive, long-term returns. In line with this megatrend, the Ardian Access platform provides private investors with access to the same deals that Ardian has sourced for institutional investors since its inception almost 30 years ago. This marks a significant step to opening our deal flow to more investors.” Erwan Paugam, Head of Private Wealth Solutions and Managing Director, Ardian

Ardian is well known for a leading position in secondaries and direct investments. The continued roll-out of the Ardian Access platform alongside other Private Wealth initiatives represents a new chapter for Ardian. Until recently, the many opportunities that the Ardian team identified were reserved for institutional investors and the wealthiest families. Now, these funds are opening the doors to private markets for large groups of private investors. Ardian Access SICAV RAIF is part of the Ardian Access platform with local & thematic solutions globally. Ardian successfully launched Ardian Access Solution FCPR in 2023, its first evergreen solution, a regulated fund with a similar investment strategy, marketed exclusively in France.

NB: Investments in private equity involve a risk of total or partial loss of capital. Investors should consult the fund’s legal documentation and the fund’s marketing materials before making any final investment decision.

1Terms such as global investors and around the world are generic descriptors for investors across multiple jurisdictions. Ardian Access SICAV-RAIF will be marketed only in jurisdictions where it is duly registered, notified, or otherwise authorised under local laws and regulations.
2The Fund is managed by Carne Global Fund Managers (Luxembourg) S.A., with Ardian acting as delegated portfolio manager.
3with a term of 99 years.

Participants

  • Ardian

    • Ardian: Erwan Paugam, Marie-Victoire Rozé, Wilfred Small, Audrey Detavernier, David McDonough, Philipp Meier, Côme Tauveron, Clémence Sochet, Valentine Parra, Storm Kurkomelis

 

About Ardian

Ardian is one of the world’s leading private investment firms, managing or advising $180bn of assets on behalf of more than 1,850 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 its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 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.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

Headland

ardian@headlandconsultancy.com

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KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform

KKR

Transaction marks Global Climate Transition strategy’s first investment in Asia-Pacific

SYDNEY–(BUSINESS WIRE)– Global investment firm KKR today announced the signing of definitive agreements under which funds managed by KKR will commit A$500 million to strategically partner with CleanPeak Energy (“CleanPeak”) to rapidly grow its distributed energy platform. KKR’s investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia’s commercial and industrial (“C&I”) sector.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250726739898/en/

Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak is a leading provider of fully financed, integrated solar‑and‑storage systems for blue‑chip corporates across Australia. The company operates over 50 distributed generation sites across Australia including over 140MW of Solar Assets and 35MWH of Battery Energy Storage System (“BESS”) projects, and is currently delivering over $200m of construction projects in the sector.

“Australia’s C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,” said Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia. “By combining CleanPeak’s proven operating platform with KKR’s global network, operational expertise, and deep experience across our energy and infrastructure teams, we are well positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.”

CleanPeak Chief Executive Philip Graham welcomed the strategic partnership, “KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net zero solutions at the same time as accelerating our growth plans through bolt‑on acquisitions. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.”

“CleanPeak’s distributed energy approach reduces network costs which make up a significant portion of the all-in cost of retail electricity and results in more competitive power prices for our customers,” said Jon Hare, CleanPeak’s Chief Operating Officer.

KKR is making this investment from its Global Climate Transition strategy. This investment marks the strategy’s first in Asia-Pacific and its sixth transaction globally, underscoring KKR’s conviction in the energy‑transition opportunity set. Since 2010, KKR has committed more than US$34 billion in climate and environmental sustainability investments. Past investments have included Zenobē, a UK-based transport electrification and battery storage solutions specialist; EGC, an energy service provider in Germany; Dawsongroup, an independent asset leasing business which provides a diverse range of business-critical solutions; Avantus, a solar and solar-plus-storage developer in the US; and IGNIS P2X, an industrial decarbonisation platform.

The transaction is expected to close in H2 2025, subject to customary regulatory approvals.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About CleanPeak

CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak’s operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline.

CleanPeak’s internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution.

For additional information about CleanPeak, please visit https://cleanpeakenergy.com.au.

Media Contacts
For KKR:
Wei Jun Ong
+ 65 6922 5813
WeiJun.Ong@kkr.com

James Strong
+61 (0)448 881 174
james.strong@sodali.co

For CleanPeak:
Stephanie Graham
+61 425 393 616
Stephanie.graham@cleanpeakenergy.com.au

Source: KKR

 

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