Category Archives: News

Shriram Housing Finance Unveils its New Brand Identity “Truhome Finance” Following its Acquisition by Warburg Pincus, QIA, and Others

Warburg Pincus logo

Mumbai, 15 Jan 2025 – Shriram Housing Finance, one of India’s leading affordable housing finance companies, announced the launch of its new brand identity – Truhome Finance (the “Company”).

The rebranding follows its acquisition by Warburg Pincus and its co-investors, including QIA, Qatar’s sovereign wealth fund. As part of the agreement, Shriram Finance Group received an investment of ₹1,225 crore, helping the Company augment its net worth to over ₹3,300 crore and marking a significant milestone in the Company’s growth journey.

Truhome Finance, the new brand identity reflects the Company’s commitment to providing the best service to its customers while fostering the aspirations and dreams of homeownership for many. The rebranding also underscores the Company’s steadfast focus on enabling affordable housing finance to the underserved population of the country. The new brand aligns with the Company’s vision of empowering individuals to achieve their homeownership dreams and ensuring financial accessibility where every individual, regardless of their socio-economic background, has access to a transparent, trustworthy, and supportive partner on their journey to owning a home. Truhome Finance also aims to create lasting value for all stakeholders.

“We are thrilled to unveil our new brand, Truhome Finance, which reflects our strategic vision and forward-thinking approach,” said Ravi Subramanian, CEO, Truhome Finance. “While our name has changed, our core mission remains the same — to make affordable home loans accessible to every individual together with our commitment to quality and customer satisfaction. This rebranding marks a new chapter in our journey and positions us for greater growth and success,” he added.

Mr. Subramanian reiterated, “Our customers will continue to enjoy the same great products and services they know and trust. The Company’s leadership team and contact information will remain unchanged, ensuring seamless continuity in all business operations. Our new brand identity represents not just a name change, but also an evolution of who we are and what we stand for. We are excited to continue serving our customers and partners under the banner of Truhome Finance, as we set our sights on the future. As an organization, we have always strived for TRUENESS in everything we do: to be TRUE to our customers, stakeholders, regulators, employees, and above all be TRUE to our conscience. The core fabric of our organization is now reflected in our brand name Truhome Finance.”

“We are thrilled to embark on this new journey with Truhome Finance, a trusted brand and leader in the affordable housing finance sector. This acquisition aligns seamlessly with our mission to drive financial inclusion and support the aspirations of underserved communities. Together, we aim to scale up operations, enhance offerings, and make homeownership a reality for countless families across India.” said Narendra Ostawal, Managing Director & Head of India Private Equity, Warburg Pincus.

About Truhome Finance Limited (Formerly Shriram Housing Finance)

Truhome Finance Limited, is a leading housing finance company in India, registered with the National Housing Bank (NHB). The Company commenced operations in December 2011. Truhome Finance Limited is amongst the fastest growing and most profitable affordable housing finance companies with a network of over 165 branches and Assets Under Management (AUM) of over INR 16000 Cr as of December 2024. The company is rated AA/Stable by CRISIL, India Ratings, and CARE. Truhome Financewas acquired by Warburg Pincus, a pioneer of private equity growth investing, from the Shriram Finance Group in December 2024.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

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

For media inquiries or further information, please contact:

Amit Bhatia

Mobile: +91 8971900311
E-mail: amit.bhatia@shriramhousing.in

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Plantagen restructuring approved

Ratos

Plantagen in Norway and Sweden have been undergoing restructuring since August 22. At the end of December, Plantagen submitted proposals for debt settlements with the creditors. These proposals have been accepted by the majority of the creditors and today approved by the respective courts in Norway and Sweden.

Since August 22, 2024, Plantasjen Norge AS and Plantagen Sverige AB have been undergoing restructuring to ensure continued operations. The court approvals of the debt settlements in both countries means that the purpose of the restructuring can be achieved.

When the court decisions have gained legal force, the companies can exit restructuring. This is expected to take place February 18.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR Invests in smaXtec to Accelerate Global Growth

KKR

Investment to Support Dairy Industry with Innovative Technology and Global Expansion

London, UK & Graz, Austria – 16 January 2025 – smaXtec, a leading provider of agri-tech for the global dairy industry, today announced a growth investment led by global investment firm, KKR, alongside technology investor Highland Europe (“Highland”). Existing shareholder Sophora Unternehmerkapital (“Sophora”) retained a minority stake in the business. Financial terms of the transaction were not disclosed.

 

smaXtec is a leading monitoring platform that transforms dairy farming by enhancing efficiency and promoting animal health through its proprietary technology. The platform enables early disease detection, monitors fertility with heat detection, and reduces birth-related complications, all contributing to improved cow welfare and farm productivity.

At the heart of smaXtec’s innovation is the in-vivo bolus, a proprietary sensor placed inside a cow’s stomach. This sensor provides real-time, accurate data, seamlessly integrated with a cloud-based, AI-powered analytics platform. Farmers can access actionable insights and alerts via remote monitoring, empowering them to make timely and informed decisions. Founded in 2009 in Graz, Austria, smaXtec has established a global presence, serving dairy farmers across Europe, North America, and Australia & New Zealand.

KKR’s investment is to fuel smaXtec’s product innovation and accelerate its international growth as the global dairy industry increasingly adopts digital tools to improve animal health. smaXtec expects to benefit from KKR’s operational expertise, leveraging the firm’s platform to scale as a leader in agricultural technology. Additionally, smaXtec will access KKR’s extensive network of industry professionals, particularly in agriculture and technology, to strengthen its position as a pioneer in dairy farming solutions.

Stefan Scherer, CEO of smaXtec said: “smaXtec has emerged as the leading dairy cow health management system, revolutionizing the industry. Our system empowers thousands of farmers worldwide to achieve a true triple win: enhanced animal welfare, reduced greenhouse gas emissions, and increased earnings. I am thrilled that KKR is able to ensure and accelerate our global growth, which has consistently doubled over the past five years. smaXtec consists of a competent and committed team that will achieve a lot in the future. I would like to thank them for our cooperation and look forward to the future.”

Marta Szczerba, Director in European Tech Growth at KKR, said: “smaXtec’s technology has emerged as a disruptive force in the dairy industry, enabling farmers to significantly increase the efficiency of their operations. With a deeply engaged user base, high pace of product innovation and dedication to supporting its customers, smaXtec is well-positioned to continue to drive digitalization of the dairy sector globally. We are excited to support the next chapter of the company’s growth story.”

David Blyghton, General Partner at Highland Europe, added: “By providing real-time, actionable insights into herd health, smaXtec is empowering farmers across the globe to improve animal welfare, enhance productivity and drive operational sustainability. smaXtec’s vision and product leadership in AI-powered dairy health monitoring is driving rapid revenue growth and global customer adoption – we’re delighted to be part of the journey.”

Benjamin Hubner, Managing Partner of Sophora, said: “We are excited to continue our partnership with smaXtec and join forces with KKR and Highland in the next phase of smaXtec’s development. Over the past two years, smaXtec has consistently demonstrated its ability to drive innovation and create significant value for the dairy industry. By reinvesting, we reaffirm our confidence in smaXtec’s disruptive technology and its potential to further transform the market globally.”

Today’s announcement of KKR and Highland’s investment in smaXtec is also a success story for the Styrian regional start-up ecosystem. From university spin-off to global success – smaXtec and Styria prove what a positive economic ecosystem can achieve.

KKR is making the investment in smaXtec primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise.

William Blair & Company is acting as exclusive financial advisor to smaXtec. The transaction is still subject to the approval of the relevant antitrust authorities.

About smaXtec

smaXtec provides dairy farmers with the most advanced health monitoring system, designed to prevent diseases in cows, boost milk yields, improve animal welfare, and reduce methane emissions in milk production. By integrating cutting-edge AI technology, such as the TruAdvice™ system, smaXtec detects potential diseases long before they become clinical. This enables farmers to prevent most diseases altogether by applying milder and alternative treatments. The combination of accurate data and intelligent insights helps farmers around the world to optimize their operations, improve the efficiency of daily tasks and reduce antibiotic use. SMAXTEC is committed to enhancing the stability, sustainability and profitability of dairy farming globally. For more information, visit smaXtec.com.

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 Highland Europe

Highland Europe invests in exceptional growth-stage technology and consumer companies. Formally launched in 2012, Highland Europe has raised over €2.75 billion and has invested in companies such as Adjust, AMCS, Camunda, ContentSquare, Deepki, Descartes Underwriting, GetYourGuide, Featurespace, Finbourne, Huel, ME+EM, Nexthink, Nothing, Oritain, PVcase, SoSafe, Supermetrics and Zwift. Highland’s collective history of investments across the US, Europe and China includes 45+ IPOs, 150+ M&A exits and 40 billion-dollar-plus companies.

About Sophora Unternehmerkapital

Sophora Unternehmerkapital, based in Munich, is an independent and owner-managed investment company with a focus on medium-sized companies in Germany, Austria and Switzerland. Sophora consists of an interdisciplinary team of entrepreneurs with many years of experience in the investment business and as founders and Managing Directors of companies. As a value-creating partner of entrepreneurs and management teams of medium-sized companies, Sophora provides strategic and operational know-how as well as a comprehensive network of experts and flexible capital in order to jointly discover and develop potentials. For additional information about Sophora, please visit Sophora’s website at www.sophora.de/en.

smaXtec

smaXtec animal care GmbH

Stefanie Murauer

+43 664 88440916

press@smaxtec.com

KKR

FGS Global

Alastair Elwen / Jack Shelley

+44 20 7251 3801

KKR-LON@fgsglobal.com

Sophora Unternehmerkapital

Sophora Unternehmerkapital GmbH
Melaine Louis
info@sophora.de

 

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CapMan Real Estate acquires a brownfield logistics development project outside Gothenburg, Sweden

Capman

 

CapMan Real Estate acquires a brownfield logistics development project outside Gothenburg, Sweden

The CapMan Nordic Real Estate III fund (“CMNRE III”) has signed an agreement with Mitsubishi Logisnext Europe AB to acquire a brownfield logistic development project situated in the Gothenburg region which is the highest ranked logistics hub in the Nordics. The plan is to demolish the current outdated industrial buildings and, in their place, construct an EU taxonomy aligned modern logistics facility. This new facility will provide high-quality logistics spaces suitable for multiple tenants, thereby bolstering CapMan Real Estate’s footprint in the Swedish logistics market.

The project is situated in Mölnlycke along highway 40 outside central Gothenburg, a city which houses the largest port in the Nordics and is central to the “Logistic Triangle” connecting the Nordic capitals. As a result, the demand for logistics space in the area is typically very high coupled with low vacancy rates.

The project site holds two outdated buildings which CapMan Real Estate plans to demolish and replace with an EU Taxonomy aligned logistics facility of approx. 43,000 m2. The new facility will allow for up to six different units and is planned to welcome new tenants by summer 2026. The development project targets BREEAM-SE v.6 New construction certification at least on level Excellent as well as energy performance certificate rating B. The construction site will target a minimum 90% waste recycling rate aiming to reuse as much as possible within the new development.

“We’re very happy to acquire this project in such an excellent logistic location outside central Gothenburg, increasing our presence in the Swedish logistics segment. We look forward to developing a sustainable*, top-of-the-art logistic facility and attract tenants who value the unique opportunity to lease space in this location”, comments Marcus Lotzman, Head of Transactions at CapMan Real Estate Sweden.

The acquisition is expected to close during Q1 2025. Mannheimer Swartling acted as legal advisors for CapMan Real Estate in this transaction.

CapMan Real Estate manages approximately €4.4 billion in real estate assets, with a team of over 80 professionals located in Helsinki, Stockholm, Copenhagen, Oslo, London and Jyväskylä. This is the 6th investment in Sweden for CMNRE III, a value-add fund investing mainly in Nordic office, logistics and selected residential assets.

*EU Taxonomy aligned.

For more information, please contact:

Marcus Lotzman, Head of Transactions at CapMan Real Estate Sweden, +46 706 806 081

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Dhoot Transmission Group Secures Strategic Growth Investment from Bain Capital for Significant Minority Stake Sale

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BainCapital

Partnership empowers Dhoot Transmission Group to drive continued innovation, expand global reach, and capitalize on high-growth segments

MUMBAI – January 16, 2024 – Dhoot Transmission Group (“Dhoot”), a leading manufacturer of automotive components, today announced a strategic growth investment from Bain Capital, a global private investment firm. Through an aligned partnership with Founder and CEO, Rahul Dhoot, Bain Capital will leverage its global automotive expertise and deep value-creation capabilities to support the company’s continued growth. Together, they aim to accelerate Dhoot Transmission Group’s leadership in high-demand segments, foster continued innovation, and support global expansion through strategic acquisitions and partnerships.

Founded in 1999, Dhoot Transmission Group is a global leader in Two-Wheeler and Three-Wheeler Wiring Harness. The company’s advanced Wiring Harnesses also power Heavy and Light Commercial Vehicles, Off-road Vehicles, and Farm Equipment in ICE and EV segments across the globe. Over the past 25 years, Dhoot Transmission Group has also diversified in Electronics Sensors & Controllers, Automotive Switches, Connection Systems and an array of EV products, including Charging Guns, Inlets, Off-Board Chargers, RCDs, High Voltage & Low Voltage Wiring Harness, and assembly of Li-Ion Batteries. This growth has been fueled by a strong focus on innovation, customer-centric approach, strategic acquisitions, and technology partnerships. Dhoot Transmission Group has also expanded internationally, employing over 10,000+ people across 20+ state-of-the-art manufacturing facilities in India, the UK, Slovakia, and Thailand.

“Our journey over the past two decades has been defined by a commitment to innovation, quality, and trust,” said Rahul Dhoot, Founder and CEO of Dhoot Transmission Group. “Partnering with Bain Capital is an exciting opportunity to accelerate this evolution. Their strategic expertise and integrity make them the perfect partner to help us scale globally and pursue emerging opportunities that deliver value to our customers worldwide.”

“Over the past two decades, Rahul has built Dhoot Transmission Group into a market leader, serving as a critical partner to OEMs powering India’s Two-wheeler market—the largest in the world with a strong growth trajectory. Dhoot’s entrepreneurial culture, customer focus, and investments in cutting-edge technology have also now positioned the company at the forefront of several high-growth segments. We are excited to partner with Rahul and the Dhoot Transmission team to build on their impressive growth journey and help drive expansion through M&A and technology partnerships,” said Rishi Mandawat, Partner at Bain Capital. “Their customer-first approach and strong employee engagement has helped the group to build a leading auto-component business and together, we see significant opportunities to expand both organically and inorganically, accelerate exports, and enhance their global footprint,” added Saahil Bhatia, Managing Director at Bain Capital.

Bain Capital’s investment was made through its Private Equity team, which has deep experience supporting the growth of founder-led companies and global industrial platforms. Since establishing its Mumbai office in 2008, Bain Capital has built one of the largest private equity teams in India, with notable investments including Hero MotoCorp, RSB Transmissions, Porus Labs, 360one Wealth, CitiusTech, J.M. Baxi, and Quest Global.

Terms of the private transaction, which is subject to regulatory approval, were not disclosed.

Alvarez and Marsal, AZB & Partners, ERM, ICICI Securities, Kearney, Kirkland and Ellis, KPMG and PwC served as advisors to Bain Capital

Singhi Advisors, Trilegal and Deloitte served as advisors to Dhoot Transmission Group

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).

About Dhoot Transmission Group 
Dhoot Transmission Group is a distinguished group of companies under the ownership of Rahul Dhoot and family. As a rapidly expanding global automotive components enterprise, Dhoot Transmission Group excels in a broad spectrum of business pursuits, extending from the design to manufacturing of Wiring Harnesses and Components (including several EV Components) tailored for Two-wheelers, Three-wheelers, commercial vehicles, Off-road vehicles as well as Farm equipment.

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Ardian raises record $30 billion for world’s largest-ever secondaries platform

Ardian

ASF IX – Largest-ever secondaries platform cements Ardian’s global secondaries market leadership
• The fund is investing in high-quality private equity assets, predominantly in North America and Western Europe
• Successful fundraise demonstrates demand for liquidity solutions among LPs
• Fund attracted a diverse range of LPs, with private wealth clients accounting for 22% of capital raised

Ardian, a world-leading private investment house, today announced that it has raised $30 billion for its ninth-generation secondaries platform, making it the largest secondaries fundraise globally to date and cementing Ardian’s leadership of the secondaries market. This represents a significant increase over the $19 billion raised for Ardian’s eighth-generation platform in 2020 and brings Ardian’s Secondaries & Primaries Assets Under Management to $97 billion.

The successful fundraise, which was oversubscribed and closed at its hard cap, highlights the continued and growing appetite for secondaries investments among LPs, as market volatility and the need for liquidity drove deal volumes to record highs in 2024.

The fundraise attracted a wide range of global investors, with more than 465 investors in total from 44 countries across Europe, the Americas, the Middle East and Asia. The diversified LP base includes major pension funds, insurance companies, sovereign wealth funds, financial institutions and high-net worth individuals.

There was particularly strong growth among private wealth clients, which account for 22% of the total equity raised, compared to 11% in the eighth-generation platform.

This latest platform is aligned with Ardian’s existing secondaries strategy of acquiring stakes in best-in-class private equity assets, providing liquidity solutions to the largest, most sophisticated institutional investors and general partners in the market.

The demand for and size of this latest generation demonstrates that Ardian is one of the few firms with the capital to transact the largest and most complex transactions in the Secondaries market. Ardian’s Secondaries & Primaries team is among the most experienced in the industry, with more than 100 investment professionals across 14 offices and a leadership team that has worked together for nearly two decades.

Leveraging more than 25 years of market expertise, Ardian’s Secondaries & Primaries team has developed one of the world’s largest and most comprehensive databases of private market assets to support its investment activity, covering 1,600 funds from over 650 general partners, and offering access to 5.4 million real time data points on more than 10,000 underlying companies. With this deep pool of data and the use of AI, the integrated platform enables Ardian to identify the best funds to buy at any time and allows the team to make evidence-based investment decisions with more agility and speed.

“We are actively capitalizing on a generational buying opportunity for secondaries. With the continued exponential growth in private markets, investors increasingly look to secondary buyers to help them actively manage their private equity portfolios. And more recently, with a changing interest rate environment and public market volatility, many find themselves overallocated and in need of a solution.

These market dynamics, combined with the strength of our offering which we have cultivated for more than 25 years, have helped us achieve this record-breaking milestone. The scale of our platform allows us to secure transactions of unprecedented size, including our two most recent secondary deals, each of which are larger than $3 billion. I sincerely thank our investors for their continued support and trust.” Mark Benedetti, Executive President & Co-Head of Secondaries, Ardian

“The past 12 months marked a record-breaking year for secondaries volume. Using the secondary market for liquidity and portfolio rebalancing is no longer a one-off decision but now an integral part of institutional investors’ private markets investment strategies. This has led to much larger volumes of assets for sale, creating unprecedented opportunities for buyers of scale while at the same time allowing even greater selectivity. As the market grows, funds with significant capital to deploy and the ability to transact the most complex deals will benefit.

We have a robust and diversified portfolio of funds managed by world-leading GPs, with our ninth fund already 50% deployed and with an average deal size of $2bn for LP portfolios. We expect 2025 to be an even stronger year of activity, and we are deeply thankful to our investors, who have ensured that we are well capitalized for this market opportunity.” Vladimir Colas, Executive Vice-President & Co-Head of Secondaries, Ardian

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing 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

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ARDIAN

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ardian@h-advisors.global

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Workwize Raises $13 Million in Series A Funding to Disrupt IT Asset Management for Globally Distributed Teams

Klass Capital

The new funding will allow Workwize to enhance its AI-driven automation and strengthen its
operations with the launch of a U.S. office in early 2025.

Amsterdam, Netherlands. 16 January 2025. Workwize, a leading platform for global IT hardware asset management, today announced that it closed $13 million in Series A funding led by Klass Capital, with continued support from early-stage investors Peak and Graduate Entrepreneur Fund. This investment will fast-track Workwize’s integration of AI-driven automation, making it the first platform to fully automate the IT equipment lifecycle—from procurement and deployment to retrieval and disposal.

“IT teams worldwide are overwhelmed by the inefficiencies of managing equipment for distributed teams. They waste valuable hours on manual, repetitive tasks and getting caught up in complex vendor management,” said Michiel Meyer, CEO and co-founder of Workwize. “This investment further solidifies our vision of a barrier-free future where managing a global workforce becomes effortless and enables IT workflows to shrink from hours to minutes through smarter automation.”

A recent survey conducted by Workwize of over 150 global enterprises revealed that 48% of IT leaders prioritize ‘operational efficiency and automation.’ Workwize’s platform dramatically cuts IT management time from 27 hours to just 10 minutes per employee for tasks like procuring, deploying, managing, retrieving, and decommissioning IT equipment. What’s more, Workwize customers appreciate the platform’s ease of use, ensuring new hires receive the necessary IT equipment on their first day.

Fully automated hardware asset management: A breakthrough for IT leaders

Traditional IT hardware asset management platforms provide a centralized record of the locations and status of IT equipment, but moving equipment still relies heavily on manual interventions by IT teams. For example, if an overseas employee needs a laptop repair, an IT manager must coordinate with multiple international vendors: sending a shipping label and packaging to the employee, booking the repair, arranging and configuring a replacement laptop, seeking cost approvals, and more.

Once fully automated, Workwize’s AI-driven platform automates the entire lifecycle of IT equipment, eliminating the need for labor-intensive interventions. Workwize improves the efficiency and scalability of repetitive tasks so that IT teams can focus on strategic initiatives. AI and automation are also used to analyze IT assets needed and manage the lifecycle of an organization’s IT hardware inventory globally. The company provides its customers with flexible delivery options, including pre-configured laptops with Mobile Device Management (MDM) from local warehouses, ensures compliance with standards like ISO, repurposes phased-out equipment, prioritizes sustainability, and certifies services to wipe, recycle, or resell IT assets. This leads to significant time savings and delivers an experience that is ten times more efficient, allowing IT teams to be completely hands-off.

“Our investment in Workwize reflects our strong belief in its ability to revolutionize IT management for an increasingly global workforce that demands streamlined solutions,” said Will Anderson, Managing Partner at Klass Capital. “Workwize provides the efficiency and scalability modern enterprises need to thrive in today’s dynamic, borderless business environment.”

Strengthened global operations

In 2024, Workwize has grown more than 3x and its platform is already transforming IT operations for customers, including Adyen, Elastic, EQT, and HelloFresh. The new funding will enable Workwize to expand its global footprint and enhance operations with the launch of a U.S. office in early 2025. Workwize also plans to double its headcount in 2025.

For more information, visit www.goworkwize.com

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Prophecy Announces $47M Series B Extension Led by Smith Point Capital

Smit Point

Today, Prophecy announced that it has closed a $47M Series B extension round led by Smith Point Capital with participation from HSBC, Berkeley SkyDeck, DallasVC, Insight Partners, JPMorgan Chase and SignalFire.

The funding will be used to continue accelerating growth and product development following Prophecy’s impressive 3.5X revenue growth in FY’24. With 160% net revenue retention coming from existing customers including Fortune 500 companies like Amgen, HSBC and JPMorgan Chase, we believe that Prophecy is at the forefront of a transformative modernization shift in how enterprises manage data transformation.

Amid surging demand from enterprises building AI and analytics applications, there’s a stall in getting out of the pilot or proof of concept stage. Research has found that 68% of businesses that are investing in AI have only moved 30% or fewer of their AI experiments into production.

Prophecy is helping customers accelerate their deployment of AI capabilities. Its AI-powered visual designer generates standardized, open code that extracts, transforms and delivers the required data  – whether it’s structured, unstructured, op-premises, in the cloud, or both – that corporations need to extract value and build applications quickly. And, because it’s optimized for modern cloud data platforms, AI initiatives that typically depend on data scattered across dozens, or even hundreds, of sources across the enterprise, can now be streamlined into a single platform that allows organizations to deploy AI capabilities in minutes.

Prophecy is democratizing data proficiency and access with their Analyst Copilot, and as a result is solving a multi-billion-dollar productivity challenge for enterprise data teams who typically spend 90% of their time preparing data for analytics and AI, rather than implementing it. A recent study found that the majority (84%) of data engineers suffer from capacity issues – with a third spending up to half of their day on relatively low value data collection. Adopting broad-persona applicable tools like Prophecy will be a mission-critical solution for enterprise companies to streamline workflows and alleviate roadblocks for data teams so they can elevate their focus from pipeline preparation and maintenance to delivering higher order business value.

Congratulations to Raj Bains and the whole team at Prophecy. We’re proud to have led this Series B extension round and are excited to be a partner in your mission to disrupt the massive ETL / data integration market and unlock the true potential of data.

For more information about Prophecy’s latest announcement, you can read the full press release here.

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Stonepeak Completes Acquisition of Boundary Street Capital

Stonepeak

 

NEW YORK & WASHINGTON – January 16, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed the acquisition of Boundary Street Capital, LP (“Boundary Street”), a leading specialist private credit investment manager focused on the digital infrastructure, enterprise infrastructure software, and technology services sectors in the lower middle market.

“We are incredibly excited to welcome the Boundary Street team to Stonepeak,” said Jack Howell, Co-President of Stonepeak. “The team represents a strong cultural fit for our firm, and their addition will enable us to bring an even broader set of offerings to our limited partners and borrowers across the infrastructure landscape.”

“With deep expertise in digital infrastructure and technology services and extensive experience in the lower middle market, Boundary Street complements our existing credit investing capabilities well,” added Michael Leitner, Senior Managing Director at Stonepeak. “I look forward to working alongside Rashad and the rest of the team as we continue to grow the Stonepeak Credit platform.”

“Since our inception, Boundary Street has focused on helping to grow the greatest technology and digital infrastructure businesses of tomorrow. As part of Stonepeak, we’ll be even better positioned to continue pursuing this goal,” said Rashad Kawmy, Partner and Co-Founder of Boundary Street. “We are excited to start capitalizing on the many investment opportunities we’re seeing driven by digitalization and AI in ways we could not have done before.”

Paul, Weiss, Rifkind, Wharton & Garrison and Simpson Thacher & Bartlett LLP served as legal counsel to Stonepeak. Hogan Lovells served as legal counsel to Boundary Street.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 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 digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Boundary Street Capital

Boundary Street is a private credit investment manager focused on providing flexible capital solutions specifically to lower middle market technology and telecommunications businesses and backed by a team of investment professionals with decades of experience investing in these sectors. Boundary Street seeks to invest credit in durable, recurring revenue businesses providing the mission critical services that will drive economic growth, bridge the digital divide, and keep families and businesses connected. To learn more, visit www.boundarystreetcapital.com.

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

 

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Kering and Ardian sign an investment agreement regarding prime real estate assets in Paris

Ardian

Kering and Ardian today announced the signature of a binding investment agreement pertaining to three highly prestigious real estate properties in Paris. This portfolio comprises Hôtel de Nocé, located 26, place Vendôme, and two buildings located on avenue Montaigne, at 35-37 and 56.

Kering is contributing these assets to a newly created joint venture. Ardian, a world-leading private investment house, will hold a stake of 60% in this unique prime real estate portfolio, Kering retaining 40% of the ownership. Net proceeds for Kering will amount to €837 million.

This transaction is part of Kering’s selective real estate strategy, aimed at securing exceptional retail locations for its Houses for the long term in the world’s most emblematic luxury districts.

For Ardian, this long-term partnership is a rare opportunity to further establish its real estate footprint in Paris through an investment in three real estate assets located on the most prestigious high streets, offering its clients access to a very exclusive real estate market.

The deal is expected to close in the first quarter of 2025, pending the fulfillment of customary conditions for real estate transactions.

“We are very pleased with this partnership, which allows us to secure for the long term highly prominent retail locations while preserving our financial flexibility. With Ardian, a leading investment firm, we have found a quality partner with whom we share a French heritage and a common vision.” Jean-Marc Duplaix, Kering Deputy CEO and Chief Operating Officer

“We are proud to partner with Kering, a global leader in luxury, to invest in iconic, stabilized properties on the premier luxury streets of Paris. This long-term, innovative joint venture embodies a transformative approach to real estate strategies for luxury groups like Kering, while opening new avenues for growth and leveraging our expertise to deliver exceptional value for our investors.” Stéphanie Bensimon, Mmeber of the Executive Committee, Member of the Board of Ardian France and Head of Real Estate, Ardian

ABOUT KERING

A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin and Ginori 1735, as well as Kering Eyewear and Kering Beauté. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2023, Kering had 49,000 employees and revenue of €19.6 billion.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing 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

Contacts

HEADLAND

ardian@headlandconsultancy.com 

KERING

Emilie Gargatte

emilie.gargatte@kering.com+33 (0)1 45 64 61 20

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