Tag Archives: Energy

Apollo Funds to Acquire OEG, a Leading Provider of Core Services to the Offshore Energy Industry

Apollo logo

LONDON and NEW YORK, March 19, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the “Apollo funds”) have agreed to acquire a majority stake in OEG Energy Group (“OEG” or the “Company”), a leading offshore energy solutions business, from funds managed by the Power Opportunities strategy of Oaktree Capital Management, LP (“Oaktree”) and other investors. The transaction implies a headline valuation of more than $1 billion for OEG, and Oaktree and others will retain a minority equity interest in the Company.

OEG is a scaled provider of core services across the offshore energy ecosystem, delivering development and operations solutions to oil & gas (O&G) and wind end markets for more than 50 years. The Company owns and operates one of the world’s largest fleets of cargo carrying units (CCUs), with 75,000+ units, enabling the safe transportation of essential cargo to and from offshore energy installations. OEG’s Renewables segment is a global, integrated provider of key technical solutions and services to the offshore wind sector.

John Heiton, CEO of OEG, said: “Since our company’s founding, we have worked hard to establish OEG as a global leader in delivering core services throughout the offshore energy value chain. As energy producers across Europe and around the globe continue to invest in energy transition, we are committed to expanding and enhancing our capabilities as a key partner. We look forward to working with Apollo as we enter this new and exciting chapter for our business and remain focused on supporting our customers with the same quality service they have come to expect.”

Wilson Handler, Partner at Apollo, said: “John and team have built OEG into a global leader and trusted provider of offshore equipment and services, with an integrated business model that has scaled across cycles. We see a tremendous opportunity to invest in the Company’s future growth as secular tailwinds drive demand for services enabling efficient energy production and renewable power. Bringing to bear the scale of Apollo’s integrated platform and deep expertise in energy services, we look forward to working with the talented team at OEG to unlock value for its various stakeholders and loyal customer base via organic and inorganic channels.”

Francesco Giuliani, Managing Director and Assistant Portfolio Manager in Oaktree’s Power Opportunities strategy, said: “We are proud of our partnership with the management team at OEG and the success achieved during Oaktree’s period of ownership. During that time, increased focus on the energy transition and global supply dynamics has made investment for core energy infrastructure even more important. We continue to have strong conviction in OEG’s growth trajectory and are thrilled to maintain a minority interest alongside Apollo funds.”

Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $58 billioni of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q2 2025.

Banco Santander SA acted as financial advisor and Vinson & Elkins LLP served as legal counsel to the Apollo funds on the transaction.

Goldman Sachs International acted as financial adviser to Oaktree, while Gibson, Dunn & Crutcher LLP (corporate) and Latham & Watkins (financing & antitrust) served as legal advisers.

White & Case LLP served as legal counsel to OEG management.

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i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030. The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About OEG Energy Group

OEG is a leading offshore energy solutions business providing infrastructure assets, technologies and services to the global energy industry. From the company’s beginning in 1973, OEG has evolved significantly, growing both organically and through strategic acquisitions, to become a pivotal link in the global energy supply chain.

OEG delivers specialized and complementary solutions for above-water, on-water and below-water applications across the full energy lifecycle. From the provision of offshore logistics equipment and bespoke solutions, through to the delivery of integrated services for larger project work scopes, OEG plays an important role in supporting the production of the world’s energy needs whether that be electricity, gas or oil.

Headquartered in Aberdeen, UK, OEG has over 1,300 employees and operates in more than 65 countries.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $202 billion in assets under management as of December 31, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Oaktree Press Contacts

FGS Global
Rory King / Hannah Ratcliff
Rory.King@fgsglobal.com / Hannah.Ratcliff@fgsglobal.com

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KJTS and Stonepeak Form Joint Venture to Pursue District Cooling Projects

Stonepeak

KUALA LUMPUR & NEW YORK – March 14, 2025 – KJTS Group Berhad (“KJTS” or the “Group”) (KLSE: KJTS), a leading provider of energy-efficient cooling solutions and integrated energy management services based in Malaysia, and Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the creation of a joint venture dedicated to developing and investing in district cooling facilities.

The joint venture will initially seek to invest in a diversified portfolio of district cooling and electricity distribution assets in Malaysia. Southeast Asia, one of the hottest regions globally, is a fast-growing market for district cooling. Particularly in Malaysia, industrial urbanization, expanding energy efficiency initiatives, and the rapid buildout of data centers have markedly increased the need for district cooling systems, which are able to reduce total energy consumption by 40-50% relative to traditional cooling methods. The joint venture, expected to be capitalized at MYR 1.5 billion (USD ~340 million), through aggregate commitments from Stonepeak and KJTS and debt funding, will target an actionable addressable market of over MYR 2 billion (USD ~450 million) in project deployment opportunities per year.

“We are thrilled to partner with Stonepeak to pursue additional district cooling and electricity distribution projects in Malaysia,” said Azura Binti Azman, Independent Non-Executive Chairman at KJTS. “This marks a significant partnership that underscores our commitment to sustainability and energy efficiency, and a transformative milestone, enabling the Group to accelerate its growth trajectory while advancing our mission to support the national agenda in reducing carbon emissions. Stonepeak represents an ideal partner, bringing important capital, industry relationships, and operational experience in building platforms from the ground up. We look forward to working together to bring dependable, long-term solutions to our customers.”

“District cooling has become an essential piece of the energy transition in Malaysia and Southeast Asia more broadly, given the region’s rising energy demands, and we are seeing the solution being adopted into national climate action plans for many Southeast Asian countries,” said Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak. “By partnering with KJTS, a respected operator in Malaysia with a keen understanding of the technicalities and best practices of district cooling, we are positioned well to address the need for this critical infrastructure head-on. We are excited to expand Stonepeak’s portfolio of energy transition platforms within our Asia Infrastructure strategy as the tailwinds in the region remain as strong as ever.”

The transaction is expected to close in the first quarter of 2025. Skrine served as legal counsel to KJTS. Linklaters LLP and Rahmat Lim & Partners served as legal counsel to Stonepeak.

About KJTS

KJTS Group Berhad (KLSE: KJTS) is a leading provider of district cooling solutions and standalone building cooling systems, specializing in the design, construction, operation, and optimization of energy-efficient cooling infrastructure. With extensive expertise in developing large-scale district cooling plants and customized cooling solutions for commercial, industrial, and mission-critical facilities, KJTS delivers integrated energy management services that enhance operational efficiency and sustainability. The company’s in-house capabilities in Engineering, Procurement, Construction, and Commissioning (EPCC) ensure seamless project execution, while its Operations & Maintenance (O&M) services guarantee long-term reliability and cost savings for clients. Headquartered in Malaysia, KJTS is committed to advancing energy transition goals by deploying innovative cooling technologies that drive carbon reduction, support urban development, and optimize industrial performance. For more information, please visit www.kjts.com.my.

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.

Contacts

Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

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Ardian announces sale of stake in LBC Tank Terminals to Mitsui O.S.K. Lines (MOL)

Ardian

Ardian invested in LBC in 2017, alongside APG and PGGM as co-shareholders
• LBC is one of the world’s largest independent chemicals focused storage businesses with total storage capacity of c. 3.3 million m³*
• Ardian supported LBC through a major phase of growth and through achieving industry leading safety and sustainability performance.

Ardian, a world-leading private investment house, today announces the sale of its 35% stake in LBC Tank Terminals (“LBC”), to MOL**, a leading multi modal shipping company operating a fleet of 900 vessels and variety of social infrastructure businesses. As part of the transaction, APG***  and PGGM****  are also selling their stakes.

LBC is one of the world’s largest independent chemicals focused storage businesses. They own and operate seven state-of-the-art and flexible storage terminals at locations in the United States (Houston, Baton Rouge, Freeport) and Europe (Antwerp, Rotterdam), offering loading and unloading services for various transportation modes such as pipeline, vessel, barge, rail tank car and truck. Their total current storage capacity accounts for 3.3* million m³ strategically located at major chemical production hubs and connected to vital chemical processing plants via pipeline infrastructure networks.

Ardian’s Infrastructure team has been supporting the company’s developments since 2017. During the partnership, LBC improved operations and safety as well as its sustainability performance to reach industry leading performance as recognized by its Platinum EcoVadis rating and 5-star GRESB rating. Building on available landbank, LBC also completed significant expansion under Ardian ownership with capacity growing by 63% since its acquisition, and new projects being developed across chemical and new energies storage. These expansion projects allowed LBC to strengthen its capabilities and address the rising demand for storage facilities capable of handling a broader array of new energy products.

“We are delighted to have had the opportunity to work with LBC and its management team. We have supported the company for more than 7 years, through impressive capacity growth, achieving industry leading safety and sustainability performance.” Simo Santavirta, Head of Asset Management Infrastructure & Senior Managing Director, Ardian

“LBC has grown into a partner of choice for sustainable storage solutions. As a connected operator in current and future logistic networks, LBC is a relevant player in the energy transition. We wish LBC and MOL every success for the companies’ exciting future.” Daniel von der Schulenburg, Head of Infrastructure Germany, Benelux & Northern Europe & Senior Managing Director, Ardian

*Including projects under construction
**Mitsui O.S.K. Lines Ltd
***Stichting Depositary APG Infrastructure Pool 2011, An investment fund managed by APG Asset Management, the investment- and asset manager of ABP, the largest pension fund in the Netherlands.
****Stichting Depositary PGGM Infrastructure Funds, A wholly-owned subsidiary of PGGM, a Dutch pension fund cooperative, managing the pension investments for PFZW, the Dutch health care pension scheme with three million participants.

List of participants

  • Ardian

    • Ardian: Simo Santavirta, Daniel von der Schulenburg, Mark Voccola, Philippe Tallon, Kevin Rohde, Nicolas Dixneuf, Charles Adrien Calvet

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $177bn 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

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

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VIE Technologies Secures $15 Million Series A Led by Energy Impact Partners

Energy Impact Partners

VIE Technologies is revolutionizing transformer monitoring with the industry’s first AI-driven predictive maintenance solution

PRESS RELEASE FROM VIE TECHNOLOGIES
SAN DIEGO — VIE Technologies, a leader in advanced energy monitoring and predictive maintenance solutions, announced today the successful closure of its $15 million Series A funding round. The round was exclusively led by Energy Impact Partners (EIP), a global technology investor innovating the energy industry.

 

VIE Technologies is revolutionizing transformer monitoring with the industry’s first non-invasive, AI-powered predictive maintenance solution. Using advanced IoT sensors and predictive analytics, VIE can detect equipment issues early and recommend repairs well before human operators or traditional methods can, enabling energy companies, data center operators, and industrial facilities to increase the reliability of their power systems. This innovative approach replaces guesswork with real-time intelligence, making maintenance proactive rather than reactive. The company plans to use its funding for product development, market expansion, and talent acquisition.

 

“Securing this funding from Energy Impact Partners is a monumental step forward for VIE Technologies,” said Rahul Chaturvedi, CEO of VIE Technologies. “EIP’s strategic expertise and commitment to fostering transformative energy solutions perfectly align with our mission to revolutionize the way energy systems are monitored and maintained. Together, we’re poised to set a new standard in operational reliability and efficiency.”

 

With electricity demand rising due to the growth of data centers, new manufacturing, and widespread electrification, transformers and other electrical infrastructure are under increasing strain. To address this problem, VIE Technologies is providing real-time insights that enhance operational reliability, reduce downtime, and set a new standard for efficiency and safety while driving OpEx efficiencies.

 

Deployed on 450 transformers, monitoring over 1.2 GW+ of capacity, VIE Technologies has rapidly gained traction across data centers, electric utilities, and industrial sectors.

 

“VIE Technologies is tackling one of the most pressing challenges in the energy sector: maintaining the reliability and efficiency of critical infrastructure in the face of growing complexity and demand,” said Cassie Bowe, Partner at Energy Impact Partners. “We’re thrilled to support VIE Technologies as they scale their transformative solutions, which align with our vision for a better, more resilient energy future.”

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About

About VIE Technologies
VIE Technologies is a leading provider of advanced energy monitoring and predictive maintenance solutions, empowering industries to maximize operational efficiency and reliability. Through cutting-edge IoT and AI technologies, VIE Technologies delivers actionable insights that drive smarter decision-making and sustainable operations. For more information visit www.vietechnologies.com.

 

About Energy Impact Partners (EIP) 

Energy Impact Partners LP (EIP) is a global technology investor innovating the energy industry. EIP brings together exceptional entrepreneurs and some of the world’s most forward-thinking energy and industrial companies to advance innovation for a better energy future. With over $4.5 billion in assets under management, EIP invests globally across venture, growth and credit, with over 100 professionals based in its offices in New York, San Francisco, Washington D.C., Atlanta, Palm Beach, London, Cologne and Oslo. For more information on EIP, please visit www.energyimpactpartners.com.

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Blackstone Announces $5.6 Billion Final Close for Blackstone Energy Transition Partners IV at Hard Cap

Blackstone

New York – February 26, 2025 – Blackstone (NYSE: BX) today announced the final close for its energy-transition-focused private equity fund, Blackstone Energy Transition Partners IV (“BETP IV”). BETP IV closed at its hard cap of $5.6 billion and is approximately 33% larger than its predecessor vehicle.

Blackstone Energy Transition Partners (“BETP”) is Blackstone’s energy-focused private equity business, which seeks to help energy companies build enterprises at scale that can deliver cleaner, more reliable and more affordable energy to meet global needs. BETP has been recognized as Private Equity International’s Energy Private Equity Firm of the Year for an unprecedented three years in a row (2021-2023) and was awarded IJ Investor’s Market Innovation of the Year award for North America in 2024 (for transactions occurring in calendar year 2023).

David Foley, Global Head of Blackstone Energy Transition Partners, said: “We believe there is immense opportunity to deliver attractive returns to our limited partners through investments that benefit from the growing demand for electricity, grid reliability and energy efficiency. We are appreciative of this vote of confidence from our investors and are excited to continue partnering with outstanding management teams to build leading companies that are helping support a more reliable, affordable and secure transition to a cleaner energy future.”

Notable energy transition investments include Energy Exemplar, which supports grid reliability with a software platform that allows decision-makers to accurately model electric, gas and water energy markets; Sediver, the world’s leading manufacturer of the toughened glass insulators that enable electric transmission grids; Westwood Professional Services, a leading engineering and consulting firm; Trystar, a premier provider of backup power management solutions; Lancium, a developer providing long term contracted electrical grid access to large scale data centers, and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant, among others.

About Blackstone Energy Transition Partners   

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $23.5 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

Contacts

Matt Anderson
(518) 248-7310
Matthew.Anderson@Blackstone.com

Ellie Gottdenker
(347) 610-8646
Ellie.Gottdenker@blackstone.com

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KKR To Make Further Investment In Enilive

KKR

London, 18th February 2025 – KKR, a leading global investment firm, today announces that KKR has signed an agreement to acquire an additional 5% stake in Enilive from Eni for a consideration of €587.5 million, taking its total holding in Enilive to 30%.

Enilive is Eni’s mobility transformation company, dedicated to biorefining, biomethane production, smart mobility solutions, and providing services to support people on the move. The additional investment follows KKR’s initial acquisition of a 25% stake in Enilive announced in October 2024, and demonstrates KKR’s commitment to the business and its growth potential as a leader in the energy transition, providing progressively decarbonized services and products in support of sustainability-driven mobility.

Marco Fontana, Managing Director in KKR’s European Infrastructure team, said: “Having first signed our investment in Enilive in October last year, this transaction reiterates our confidence in the business’ ability to provide innovative and effective emission-reducing technology solutions, in line with our strategy to support transformative energy projects across Europe. We’re excited to continue working alongside Eni to further establish Enilive as a market leader.”

KKR has been consistently investing in Italy across asset classes since 2005, with a commitment to supporting the country’s economic and social development. In July 2024, KKR announced the closing of its acquisition of Telecom Italia’s fixed-line network and incorporation into FiberCop, creating the most extensive Italian broadband network serving around 16 million households and helping to fast-track the digital transition in Italy.

KKR’s investment in Enilive has been made through its Global Infrastructure Strategy. The firm first established its Global Infrastructure Strategy in 2008 and has since been one of the most active infrastructure investors around the world, currently managing over $77 billion in infrastructure assets.

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 Enilive:

Enilive is Eni’s company dedicated to biorefining, biomethane production, smart mobility solutions including Enjoy car sharing, and the distribution of all energy carriers for mobility, through its more than 5,000 Enilive Stations in Europe.

Enilive aims to provide progressively decarbonized services and products for the energy transition, contributing to Eni’s goal of achieving carbon neutrality by 2050 also through industrial assets that include the Venice and Gela biorefineries, in Italy; the St. Bernard Renewables LLC (50% joint venture with PBF Energy) in Louisiana (United States of America); numerous biogas plants being converted to biomethane production in Italy, as well as new projects in Livorno, in Malaysia and in South Korea, where further biorefineries are under construction. Enilive plans to increase its biorefining capacity to over 5 million tonnes/year by 2030 and enhance its optionality for Sustainable Aviation Fuel (SAF) production up to 2 million tonnes per year.

Media contacts

Alastair Elwen / Jack Shelley

kkr-lon@fgsglobal.com

+44 20 7251 3801

Giovanni Sanfelice Di Monteforte / Cristiano Signorini

giovanni@tancredigroup.com / cristiano@tancredigroup.com

+44 777 585 8152 / +44 795 041 3690

 

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KKR Enters Into Strategic Partnership With Energy Service Provider EGC

KKR

FRANKFURT, Germany–(BUSINESS WIRE)– KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany. The engineering service provider ITG is also part of the group. The founding family and current shareholders will retain a stake in the company and will remain active members of the management team. Former CEO Germany of GETEC Group, Michael Lowak, will join the group as Chairman, contributing his extensive industry expertise to support the management team in this strategic partnership .

With KKR as a strategic partner, EGC aims to become the leading decarbonization partner for the real estate industry and to accelerate its growth. To this end, the company plans to invest more in both organic and inorganic growth.

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. EGC manages a real estate portfolio of approximately 2 million square meters for over 100 clients and operates around 800 central heating units. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group. This engineering expertise combined with a broad energy services portfolio in particular is the foundation for the group’s strong position.

Buildings account for around a third of global CO2 emissions, mainly through space and water heating. The decarbonization of heating systems in buildings is crucial to achieving the EU’s climate targets. EGC supports landlords in developing solutions to meet their decarbonization goals.

Following the successful completion of the transaction, KKR will support the company in introducing a broad-based employee ownership and engagement model. The program will ensure that all employees are involved in shaping EGC’s future and can participate in the company’s future success. KKR developed this model in 2011 and has since successfully implemented it globally in 60 portfolio companies with more than 150,000 non-management employees.

Corinna Pitz and Dirk Pitz, members of EGC’s management, said: “The collaboration with KKR opens up completely new possibilities for us to further expand our strong market position and to develop our group of companies. In KKR, we have found a partner that shares both our strategic goals and our entrepreneurial approach. KKR is not only an established infrastructure investor, but also has a long history of working with family-run companies. We are very much looking forward to this next phase of growth with KKR, which will open up many new opportunities for our group and employees.”

Michael Lowak, future Chairman of EGC, said: “EGC enables landlords to efficiently plan, implement and finance the decarbonization of their properties. The company is thus making a significant contribution to both the real estate industry and the energy transition in Germany. I look forward to bringing my experience and industry knowledge to EGC and working with KKR to further drive the company’s growth.”

Ryan Miller, Managing Director in KKR’s European Infrastructure team, commented: “To advance the energy transition in Germany at the necessary pace, we need creative solutions and long-term capital. We are seeing growing interest in contracting solutions and significant potential in what is still a very fragmented market. Together with the management team, we want to develop EGC into the leading decarbonization partner for the real estate industry and drive forward the energy transition in Germany.”

KKR has extensive expertise in global infrastructure investments, particularly in the energy sector, and is committed to continuing to investing in the future of renewable energy. With approximately USD 77 billion in infrastructure assets under management, including more than USD 21 billion invested in the energy transition, KKR brings a global investment perspective, extensive experience in large-scale infrastructure projects and a proven track record in high-profile transactions in Europe such as Encavis, Vantage Towers, Zenobe, or Greenvolt. In Germany, KKR has invested more than EUR 18 billion of long-term equity in more than 35 companies in various alternative asset classes since the late 1990s, primarily in partnership with founders, family businesses and corporations. The strategic partnership with EGC builds on KKR’s long track record of working with family businesses in Germany.

KKR is funding the investment as part of its Global Climate Strategy, through which KKR is investing at scale in solutions that support the transition to a low-carbon economy.

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 EGC

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. The company manages a real estate portfolio of over 2 million square meters for over 100 clients and operates around 800 central heating units. Customers of EGC include private and public housing companies, institutional real estate investors such as insurance companies, banks, and investment companies. The group provides services for new constructions and existing buildings, for single properties as well as entire real estate portfolios. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group.

Learn more about us: www.egc-fm.de

KKR

Thea Homscheid
Mobile: +49 (0) 172 13 99 761
E-Mail: kkr_germany@fgsglobal.com

Emily Lagemann
Mobile: +49 (0) 160 99 27 13 35
E-Mail: kkr_germany@fgsglobal.com

Source: KKR

 

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Apollo Funds Acquire Bold Production Services, a Leading Provider of Production-Linked Contracted Gas Treatment Solutions

Apollo logo

Transaction to Further Accelerate Bold’s Growth Amid Increasing Demand for U.S. Natural Gas and Required Treatment Solutions

HOUSTON and NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE:APO), today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have acquired a majority interest in Bold Production Services, LLC (“Bold” or the “Company”), a provider of production-linked, contracted natural gas treatment solutions that enable the downstream use of natural gas, while reducing excess emissions and waste through proprietary equipment design.

Founded in 2013, Bold’s fleet of 700+ owned assets, including dehydration units, H2S treating units and total flow coolers, serves a blue-chip customer base across the Permian and Eagle Ford basins. The investment from the Apollo Funds will support Bold’s continued growth as natural gas demand is expected to accelerate over the next decade, driven by secular trends associated with the industrial renaissance such as demand for power generation, LNG exports, data centers and other emerging natural gas applications. The Company will continue to be headquartered in Houston, Texas and led by Glen Wind, Chief Executive Officer, along with his team including Blake Maywald, President, Tim Burkett, Chief Financial Officer and Austin Traweek, Chief Operating Officer.

Glen Wind, CEO of Bold, commented, “We are excited to work with Apollo in our efforts to continue serving our customers seeking reliable gas treatment solutions that help improve operational efficiency. Producers value high performance, scalable treatment services, and Bold remains committed to delivering best-in-class solutions that drive safer, cleaner operations with improved production yields and lower emissions. We look forward to building on our momentum alongside Apollo in the years ahead. We would like to acknowledge and thank the OFS Energy Fund team for their involvement and support in helping us reach this point.”

Scott Browning, Partner at Apollo, said, “Bold has built a robust platform providing essential gas treatment solutions, with significant growth potential supported by strong customer relationships and attractive expansion opportunities. We are excited to partner with Glen, Blake and the rest of the Bold team in a market where we see the opportunity for significant investment given favorable secular tailwinds. Apollo brings deep expertise in the natural gas value chain and a proven track record supporting the growth of energy-related services that help to fuel the industrial renaissance.”

Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $58 billioni into climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

Vinson & Elkins LLP served as legal counsel to the Apollo Funds. Piper Sandler & Co. acted as financial advisor to Bold, and Troutman Pepper Locke, LLP served as Bold’s legal counsel. Bank OZK supported the transaction through a new credit facility.

About Bold Production Services, LLC

Bold Production Services, LLC is an oil & gas infrastructure resource company providing contract services in the treating and removal of impurities found in natural gas, oil, and water. Bold has grown its asset base to include production and treating equipment, as well as a non-triazine based H2S chemical scavenger. To learn more, please visit www.bps-llc.com.

About Apollo Global Management, Inc.

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Contact Information

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

___________________________

i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030 The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

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EQT completes sale of common stock of Kodiak Gas Services pursuant to Rule 144

eqt

The sale resulted in gross proceeds of c. USD177 million

An affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (“EQT”) is pleased to announce the completion of the sale (the “Sale”) of c. 3.7 million shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”) for gross proceeds of c. USD177 million. The Sale was made on January 30, 2025, pursuant to Rule 144 of the Securities Act of 1933, as amended. Goldman Sachs & Co. LLC acted as the broker for the Sale.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), 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 Kodiak
Kodiak is the largest contract compression services provider in the United States, serving as a critical link in the infrastructure that enables the safe and reliable production and transportation of natural gas and oil. Headquartered in The Woodlands, Texas, Kodiak provides contract compression and related services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi-well gas lift applications and natural gas transmission systems.

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Blackstone Energy Transition Partners to Acquire Potomac Energy Center

Blackstone

Acquisition of Efficient, Scale Power Plant Located Within “Data Center Alley”; Well Positioned to Help Meet Growing AI and Power Demand Growth

Loudoun County, VA and New York, NY, January 24, 2025 – Blackstone (NYSE: BX) announced today that Blackstone Energy Transition Partners (“Blackstone”) have agreed to acquire Potomac Energy Center (“Potomac”), a 774-megawatt natural gas power plant in Loudoun County, Virginia.

The transaction represents Blackstone’s most recent investment in the power infrastructure supporting data centers and AI revolution – one of the firm’s highest-conviction areas. The Northern Virginia region currently represents approximately 25 percent of U.S. data center capacity, and the Potomac plant is located in close proximity to over 130 data centers – with significant further growth expected.

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, said: “This investment underscores Blackstone’s commitment to investing in the electric infrastructure required to power AI innovation. We believe Potomac is well-positioned to help meet data center-driven power demand growth in Northern Virginia.”

Mark Zhu, Managing Director at Blackstone Energy Transition Partners, added: “We are particularly excited about this investment given the opportunity to supply reliable, baseload power to the region. Potomac is one of the most efficient gas power plants in the region and has the potential to integrate a hydrogen fuel blend in the future, which could provide future environmental benefits.”

Lee Davis, CEO of Creto Energy, Blackstone Energy Transition Partners’ North America power platform, added: “I am tremendously excited about this investment. Potomac has a reputation and history for providing reliable and high-quality generation capacity, which are critical to helping support the region’s growing power needs.”

Blackstone is a leader in investing in the infrastructure powering AI innovation – across not just energy but a wide array of areas. Blackstone is the largest data center provider in the world with major investments in both Northern Virginia and globally. The firm also recently made major investments in CoreWeave, a specialized provider of critical cloud infrastructure pioneering the AI revolution, and DDN, a global leader in AI and data intelligence solutions.

Terms of the transaction were not disclosed. Santander and Jefferies LLC served as M&A advisors to Blackstone on this transaction.

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

Blackstone Energy Transition Partners    
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $23 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

Media Contacts

Blackstone

Matt Anderson (Matthew.Anderson@Blackstone.com)

OR

Ellie Gottdenker (Ellie.Gottdenker@Blackstone.com)

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