Apollo Hybrid Value Fund III Raises $6.5 Billion

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NEW YORK, May 05, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the final close of Apollo Hybrid Value Fund III (“HVF III”), raising approximately $6.5 billion in total commitments, reflecting strong support from both new and existing investors. The Fund attracted a diverse, global investor base, including pension funds, sovereign wealth funds, insurance companies, endowments and other institutional and wealth investors.

The Hybrid Value strategy focuses on delivering flexible, partnership-oriented solutions that sit between traditional debt and equity. The strategy primarily invests in structured equity opportunities, including preferred and convertible securities, and provides capital solutions to support growth initiatives, acquisitions, shareholder liquidity and balance sheet optimization, while seeking to provide downside protection and equity participation for investors.

“We are grateful for the strong support from both new and existing investors in HVF III, which we believe reflects continued confidence in our strategy and track record,” said Jason Scheir, Partner and Head of Hybrid Value at Apollo. “We have built the Hybrid Value franchise to deliver bespoke, partnership capital at scale and we remain focused on generating attractive risk-adjusted returns for our investors.”

HVF III follows Apollo Hybrid Value Fund I, which closed at $3.3 billion in 2019, and Apollo Hybrid Value Fund II, which closed at $4.6 billion in 2022. Building on this track record, Apollo’s broader hybrid ecosystem continues to expand with a growing base of capital across its hybrid strategies.

“We believe hybrid strategies offer a compelling risk-reward framework for investors as they navigate market cycles and the current period of elevated uncertainty,” said Matt Nord, Co-Head of Private Equity and Head of Hybrid at Apollo. “Our ability to provide scaled, flexible capital, combined with the strength of our integrated platform, positions us to be the partner of choice for many of the world’s leading companies and sponsors.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of HVF III.

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, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

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

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

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Apollo Closes Accord Fund VII at $1.9 Billion

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Brings Total Capital Raised Across Accord Dislocation Complex to $11.6 Billion Since Inception

NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the final close of Apollo Accord Fund VII (“Accord VII” or the “Fund”) with $1.9 billion in total commitments, reflecting broad support from a global and diverse group of investors including pension funds, financial institutions, endowments, foundations and family offices.

Accord VII is the latest vintage of the Firm’s flagship Accord Dislocation Series, which has raised $11.6 billion since inception in 2017. The strategy pursues dislocated liquid credit during periods of market volatility, as well as select idiosyncratic and issuer-driven opportunities in more stable market environments. The investment approach emphasizes a diversified portfolio of highly defensible positions targeting the top of the capital structure, across both primary and secondary markets.

“We are operating in a period of heightened volatility driven by elevated valuations, increased geopolitical and macroeconomic risk and rapid AI-driven disruption,” said Chris Lahoud, Partner and Deputy Co-Head of Hybrid at Apollo. “In this environment, markets reward judgment, scale and disciplined underwriting. We believe periods of volatility and dispersion create compelling opportunities for capital providers who are prepared to act decisively.”

Akila Grewal, Global Head of the Institutional Client Group at Apollo, added, “We are grateful for the continued support of our investors globally. The strong demand for Accord VII reflects sustained confidence in the strategy and the important role it plays within diversified portfolios. In dynamic market environments, we believe the Fund’s flexible mandate can help investors take advantage of volatility with an emphasis on senior positioning within the capital structure.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of Accord VII.

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, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts
Noah Gunn
Global Head of Investor Relations
+1 (212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
+1 (212) 822-0491
Communications@apollo.com

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EQT makes infrastructure more accessible to individual investors across Europe – introduces new ELTIF evergreen fund

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EQT Nexus ELTIF Infrastructure - Hero 1

  • EQT launches a European Long-Term Investment Fund structure for the Nexus Infrastructure evergreen strategy – further broadening access to private markets for eligible individuals and institutions across the EU and EEA
  • EQT Nexus ELTIF Infrastructure aims to provide exposure to EQT’s global infrastructure platform, spanning digital infrastructure, energy & environmental, transportation & logistics, and social infrastructure
  • The new fund marks an important step in the evolution of EQT’s Global Wealth Solutions platform, enabling a broadened investor base and new distribution partnerships in key growth markets

ELTIF 2.0. (“ELTIF”) is a European Union legislative regime for a regulated fund structure designed to channel capital into long-term, illiquid asset classes, such as infrastructure, private equity and real estate. The ELTIF framework expands access to private markets for the non-professional investor category, increasing coverage across the EU and EEA. EQT Nexus ELTIF Infrastructure (the “Fund”) is offered at a lower minimum investment threshold than traditional private asset structures and will be available via third-party distributors and intermediaries, including private banks and wealth platforms.

EQT Nexus ELTIF Infrastructure is an extension of EQT’s existing Nexus Infrastructure evergreen strategy. The Fund can give individual investors and institutions exposure to similar deal flow and value-creation opportunities as institutional investors in EQT’s closed-ended infrastructure funds.

The Fund will invest across EQT’s platform of Value-Add, Active Core and Transition Infrastructure funds as well as the newly launched AI Infrastructure strategy. These strategies invest in essential services to society across distinct and complementary stages of company development and themes within the digital, energy & environmental, transport & logistics, and social infrastructure sectors.

EQT’s infrastructure platform has built robust infrastructure businesses for nearly 20 years, managing EUR 78[1] billion in assets across Europe, North America and Asia Pacific, supported by a team of 155 investment professionals. The Fund launches with a seed portfolio with exposure to around 50 portfolio companies aiming to provide investors with diversification from day one. Subscriptions start in May 2026.

Peter Beske Nielsen, Global Head of Wealth Solutions at EQT, said: “Infrastructure is the backbone of resilient societies – and for investors, it can offer a combination of long-term capital appreciation, resilient downside protection and an inflation hedge. The launch of EQT Nexus ELTIF Infrastructure marks an important step in the evolution of EQT’s wealth solutions platform – enabling new distribution partnerships and reaching client segments that remain underallocated to private markets.”

The launch of EQT Nexus ELTIF Infrastructure, follows the introduction of its ELTIF Private Equity equivalent in September 2025. Today, EQT’s evergreen platform includes seven evergreen solutions spanning private equity, infrastructure and real estate, available to eligible individual investors and institutions across Europe, Asia Pacific and the Americas.

Contact
EQT Press Office, press@eqtpartners.com

 

[1] As of December 2025

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About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, 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 LinkedInXYouTube and Instagram

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Bain Capital Closes Third CLO Captive Equity Fund at $1.5 Billion

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A leader in global credit for over 25 years, the fund leverages the Bain Capital Credit team’s deep experience in issuing, managing, structuring, and investing in CLOs

BOSTON – April 9, 2026 – Bain Capital today announced it completed fundraising for the third vintage of its collateralized loan obligation (“CLO”) captive equity strategy, Bain Capital Credit CLO Management III, LP (“CMV III”), with approximately $1.5 billion in total commitments.

CMV III includes approximately $1.2 billion of external commitments from a diverse group of new and existing limited partners globally, including corporate pension funds, sovereign wealth funds, family offices and high-net-worth individuals, endowments and foundations, and insurance companies. Bain Capital employees and alumni committed the balance of the fund, underscoring the firm’s long-standing commitment to ensuring alignment with its investors.

CMV III primarily targets majority equity investments in the firm’s U.S. and European CLOs and warehouses. providing vintage and geographic diversification. The fund leverages Bain Capital Credit’s active, analytically driven approach and a long-tenured senior investment team with deep experience in issuing, managing, structuring, and investing in CLOs. CMV III also benefits from utilizing Bain Capital Credit’s dedicated 35-person Industry Research team when constructing and trading CLO portfolios.

“We believe the benefit of scale in captive equity strategies, which enables multi-year deployment and diversification across different market environments, creates a better return experience for investors,” said John Wright, Global Head of Credit at Bain Capital. “Historically, periods of market dislocation have created compelling entry points for disciplined deployment of CLO equity, and we are confident the Fund is well-positioned in the current environment to capitalize on opportunities to generate attractive returns. We are grateful for the support and partnership of our investors and look forward to continuing to execute our well-established strategy of delivering equity-like returns through exposure to diversified, senior secured corporate loans.”

A leader in global credit for over 25 years, Bain Capital Credit is one of the most experienced CLO managers in the industry, having managed more than 90 CLOs through multiple credit cycles since inception . Bain Capital currently manages approximately $61 billion in credit assets across a broad range of strategies, including structured products, liquid credit, and private middle market loans.

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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: Credit & Capital Markets, Capital Solutions, Private Equity, Growth & Venture, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 28 offices on five continents, more than 1,960 employees, and approximately $215 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

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KKR Closes $23 Billion North America Private Equity Fund

KKR

Arctos will be part of KKR Solutions, a new investing business within KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc., a leading global investment firm, today announced that it has closed its previously announced acquisition of Arctos Partners (“Arctos”), a premier institutional investor in professional sports franchise stakes globally and a leader in asset management solutions for sponsors. The transaction has received the specified sports league approvals required for closing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504956768/en/

Founded by Ian Charles and Doc O’Connor in 2019 and headquartered in Dallas, Texas, Arctos has the largest institutional portfolio of professional sports franchises and is a recognized innovator in providing strategic capital to asset management firms through structured solutions. The firm manages approximately $16 billion in assets under management and provides bespoke growth and liquidity solutions to sports franchises (“Arctos Sports”) and alternative asset managers (“Arctos Keystone” or “GP Solutions”).

“We are thrilled to welcome Arctos to KKR,” said Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR. “Our firms have strong cultural alignment and shared entrepreneurial roots. Ian and Doc have built a highly distinctive market leading platform, and we look forward to partnering with them and their team to support the continued growth of the business and further strengthen KKR’s sourcing and origination capabilities.”

As a result of the transaction, Ian Charles, Doc O’Connor and the rest of Arctos have become part of KKR Solutions, a new investing business within KKR that is led by Ian Charles. KKR Solutions includes Arctos’ Sports and Keystone businesses and will serve as the home of a scaled multi-asset class secondaries business KKR will build over time.

“This transaction is a milestone for Arctos and our partners, representing the strength of our strategy and KKR’s belief in our team,” said Arctos’ Managing Partners Ian Charles and Doc O’Connor. “With KKR’s deep expertise and global platform, we are well positioned to accelerate our mission of building a differentiated investment platform that delivers innovative, tailored capital solutions to sports franchises and alternative asset managers, while expanding our impact across the industries we serve.”

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 Arctos

Arctos is an investment firm designed to catalyze growth and unlock value in complex, illiquid, and underserved markets. Founded in 2019, the firm’s investment businesses span capital solutions for alternative asset managers (Arctos Keystone) and premier sports franchises (Arctos Sports), delivering bespoke capital solutions, differentiated insights, and purpose-built operating capabilities to industry leaders in both markets. The firm’s innovative approach is anchored by its quantitative research and data science platform, Arctos Insights. Arctos has a team of more than 75 investment and operational professionals with expertise across industries, geographies, and economic cycles. The firm is headquartered in Dallas, with office locations in New York, Boston, and London. For more information, visit www.arctospartners.com or Arctos’ company page on LinkedIn.

Forward Looking Statements

This press release contains certain forward-looking statements pertaining to KKR, including with respect to Arctos. Forward-looking statements relate to expectations, beliefs, future plans and strategies, anticipated events and similar expressions concerning matters that are not historical facts and which can change as a result of many possible events or factors, not all of which are known to KKR or within its control, and, as a result, may vary materially. Information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR, can be found in KKR & Co. Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, and its other filings with the SEC, which are available at www.sec.gov.

Investors
Craig Larson
1-877-610-4910 (U.S.) / 212-230-9410
investor-relations@kkr.com

KKR Media
Kristi Huller
media@kkr.com

Arctos Media
Prosek Partners
Pro-Arctos@Prosek.com

Source: KKR & Co. Inc.

 

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Schroders and Apollo to Deliver Next Generation Investment Solutions in Ambitious Multi-Channel Partnership

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Innovative partnership leverages the best of Schroders and Apollo to deliver improved client outcomes, with ambition to reach multi-billion-dollar annual flows across both new and existing clients

Apollo Global Management wordmark logo shown in green identifying the alternative asset management firm referenced in a joint announcement with Schroders regarding a strategic partnership to develop investment solutions for institutional and wealth management clients.

Schroders corporate logo displayed in blue, representing the global asset management firm referenced in the announcement outlining a strategic partnership with Apollo to develop next-generation investment solutions for institutional and wealth management clients.

LONDON and NEW YORK, Feb. 09, 2026 (GLOBE NEWSWIRE) — Schroders (LON: SDR) and Apollo (NYSE: APO) today announce a strategic partnership to develop a next generation of innovative wealth and retirement investment solutions aimed at enhancing client choice and outcomes.

The partnership brings together two global leaders, combining Schroders’ active management pedigree in public markets and specialist capabilities across private markets, through Schroders Capital, with the expertise of Apollo’s private markets platform focusing on complementary strengths.

Key initiatives include accelerating and deepening the firms’ offering in the UK wealth market, through the co-creation of new investment products blending public and private market fixed income exposures from across Schroders, Schroders Capital and Apollo. These will seek to provide enhanced income solutions for UK wealth clients, with improved diversification and excess return per unit of risk across the full credit spectrum. The first product is expected to launch later this year. In addition, Schroders will have the opportunity to allocate to Apollo from certain existing client portfolios, with a focus on capabilities that complement Schroders Capital and with the potential to improve client outcomes.

Meanwhile in the US, a Collective Investment Trust for the defined contribution pension market is being prepared for launch in Q2 2026, combining complementary exposures across Schroders Capital and Apollo.

The partnership reflects growing demand globally for hybrid solutions that harness the best of both public and private markets, to help meet growing savings and retirement needs. Successful market testing with potential clients, along with potential flows from existing clients, point to a multi-billion dollar per annum opportunity.

Schroders Group Chief Executive, Richard Oldfield, said:

“This partnership is highly complementary, delivering the best of Schroders and Apollo to deliver better outcomes for our clients. It has the potential to offer clients something truly different; innovative investment solutions with the potential to deliver robust, resilient returns, encompassing offerings across the wealth and retirement landscape in the UK and the US.

“We have always said that we would only pursue partnerships which enhance our existing offering and it is clear that this agreement with Apollo meets that criteria. We cannot wait to get started together.”

Apollo Global Management CEO, Marc Rowan, said:

“Schroders is a storied institution with deep investment expertise and a reputation for delivering excellent client outcomes. Our complementary capabilities can help address a large and growing societal need for reliable income solutions. Together we look forward to developing the next generation of hybrid products.”

Schroders is a $1 trillion+ asset manager with a deep heritage in public equities and fixed income, and with extensive private market capabilities through Schroders Capital, including across the universe of private debt and credit alternatives where the firm manages more than $38 billion on behalf of clients. In the UK wealth market, Schroders has established itself as a true market leader, spearheading the growth of LTAFs and evergreen structures that enable more investors to benefit from the robust returns and diversification benefits private markets can offer.

Apollo is a leading global asset management and retirement services business. It has approximately $908 billion of assets under management and operates one of the world’s largest alternative credit businesses with a significant focus on private investment grade credit origination.

For further information, please contact:

Andy Pearce
Head of Media Relations
+44 20 7658 2203
Andy.Pearce@Schroders.com

Jennifer Manser
Head of Corporate Communications and Business Management, North America
+1 (212) 632-2947
jennifer.manser@schroders.com

For Apollo:

Noah Gunn
Global Head of Investor Relations
+1 (212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
+1 (212) 822-0491
Communications@apollo.com / EuropeanMedia@apollo.com

Note to Editors

To view the latest press releases from Schroders visit: https://www.schroders.com/en/global/individual/media-centre/

Schroders plc

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £776.6 billion (€906.6 billion; $1064.2 billion) of assets under management at 30 June 2025. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 5,800 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Principal Shareholder Group continues to be a significant shareholder, holding approximately 44% of the issued share capital.

Schroders’ success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.

Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.

Issued by Schroder Investment Management Limited. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service.

Schroders Capital
Schroders Capital provides investors with access to a broad range of private market investment opportunities, portfolio building blocks and customised private market strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private market mandates. The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity.

With $111 billion (£81 billion; €94.5 billion)* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).

*Assets under management as at 30 June 2025 (including non-fee earning dry powder and in-house cross holdings)

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 September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

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Warburg Pincus Closes on $3.0 Billion Financial Services Fund

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Warburg Pincus Financial Sector III exceeds initial target, reflecting strong support for the firm’s Financial Services strategy and compelling set of investment opportunities

January 7, 2026 – New York – Warburg Pincus, the pioneer of global growth investing, today announced it has successfully raised Warburg Pincus Financial Sector III, L.P. (“WPFS III”), closing on $3.0 billion of capital. WPFS III launched in 2024, with a target of $2.5 billion.

Over the past five decades, Warburg Pincus has been a leader in investing in financial services companies, deploying nearly $27 billion in over 160 companies across market cycles and remains highly active in today’s dynamic environment. The firm invests across the full spectrum of financial services sub-sectors globally, including banks, insurance, asset & wealth management, specialty finance, payments, and financial services-focused software, infrastructure and services. Notable investments of the firm’s financial services strategy include AA, Avanse, Banc of California, EverBank, Foundation Risk Partners, GCash, IntraFi, Kestra, Mellon Bank, McGill & Partners, and Procare.

“Despite a complex macroeconomic and geopolitical backdrop, Warburg Pincus demonstrated the strength and global reach of our platform, successfully closing our third Financial Services fund, marking our largest Financial Services fund to date. We believe our strong fundraise reflects the substantial momentum and trust of our limited partners, earned through consistent engagement, rigorous execution, and deep sector experience across financial services,” said Jeff Perlman, CEO, Warburg Pincus. “Guided by a long‑term, collaborative approach, we continue to offer differentiated strategies and innovative solutions while remaining disciplined and focused on our investor-first approach.”

“Our Financial Services investing practice leverages a broad global platform and deep experience across a variety of sub-sectors, with the flexibility to pursue what we view as the most attractive opportunities. Secular trends like rapid digital transformation, rising financial product use in emerging markets, and growing household wealth are creating new investment opportunities and making financial services a prime sector for long-term growth,” said Dan Zilberman, Global Co-Head of Financial Services and Global Head of Capital Solutions.

“We believe that the strong performance of our first two Financial Services companion funds, driven by our demonstrated ability to consistently return capital to investors, has fueled this strong demand for our latest fund. With this fresh set of capital, we believe we are well-positioned to pursue both secular and cyclical trends shaping the financial services sector to build durable companies that are capable of delivering value,” added Vishal Mahadevia, Global Co-Head of Financial Services and Head of Asia Private Equity.

The firm’s Financial Services practice is a cohesive, global platform comprising over 40 investment professionals, one of the largest dedicated global financial services teams in the industry.

WPFS III follows the success of the firm’s global flagship fund, Warburg Pincus Global Growth 14, which closed with $17.3 billion, also exceeding its initial target fund size of $16 billion. It also succeeds the successful $4.0 billion close of the firm’s Capital Solutions Fund (WPCS FF), exceeding its initial target of $2.0 billion.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of 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 $85 billion in assets under management, and more than 215 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 more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Contact

Kerrie Cohen | Managing Director, Global Head of Communications & Marketing
kerrie.cohen@warburgpincus.com

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CapMan Natural Capital announces first close of European Forest Fund IV

Capman

CapMan Natural Capital announces first close of European Forest Fund IV

CapMan Natural Capital has completed the first closing of its fourth main fund, CapMan Dasos European Forest Fund IV. This underscores the confidence of international institutional investors in CapMan Natural Capital’s forestry investment platform and reflects strong demand for professionally managed forestry investment strategies. Fundraising continues, with the objective of building a fund larger than its predecessor vehicles.

The CapMan Dasos European Forest Fund IV is a closed-ended forestry fund targeting long-term value creation through active, sustainable management of European forest assets. The Fund aims to deliver a net internal rate of return of more than 8% by investing in high-quality European forest assets, where active management can unlock additional value beyond biological growth.

The Fund’s investment strategy focuses on building and operating a diversified portfolio of forest assets primarily in Northern Europe, UK and Ireland. These markets are characterised by established sustainable forestry practices, transparent legal frameworks and opportunities for hands-on value creation through active asset management and additional sustainability measures.

“CapMan Dasos European Forest Fund IV builds on our long-standing experience in forestry and our belief that active asset management is essential to unlocking the full value of forests,” says Jyri Hietala, Managing Partner at CapMan Natural Capital. “Beyond steady biological growth, forests increasingly generate additional value as natural capital attributes such as carbon sequestration, biodiversity and land-use optionality are recognised and monetised.”

By combining sustainable forestry operations with measurable climate and biodiversity benefits, the Fund aims to deliver clear impact while potentially realising additional financial value. In addition to wood production, the Fund will collaborate with renewable energy developers to explore renewable energy projects on forestland where appropriate, further enhancing long-term returns while supporting the green transition.

Following CapMan Natural Capital’s established stewardship framework, management of the Fund will have a strong emphasis on sustainable forestry practices, forest certification standards and nature-based solutions. CapMan’s local operating partners and deep regional expertise will play a central role in sourcing assets, executing value-creation initiatives and managing stakeholder relationships across target markets.

“Our investment team has delivered strong results over the years and brings deep experience in the European forestry investments,” says Tapani Pahkasalo, Co-Managing Partner at CapMan Natural Capital. “This experience positions us to deploy capital effectively and to pursue both financial performance and long-term natural-capital outcomes across the Fund’s investments.”

The Fund is structured as an SFDR Article 9 product, committing to sustainable investments. Its sustainable investment objective is aligned with the EU Taxonomy, targeting climate change mitigation. The Fund invests exclusively in FSC or PEFC certified, or certifiable, forests, with a goal of achieving certification for 100% of its assets. Science-based monitoring ensures that carbon stocks, biodiversity metrics, and social indicators are tracked, providing quantifiable environmental and social impact alongside financial returns.

For more information, please contact:

Jyri Hietala, Managing Partner, CapMan Natural Capital, +358 40 359 3566

About CapMan Natural Capital

CapMan Natural Capital is a specialist natural capital asset manager focused on sustainable forestry investments across Europe. The team acquires and actively manages forest and land assets with the objective of delivering long-term risk-adjusted returns alongside measurable environmental outcomes, including climate change mitigation and biodiversity enhancement. CapMan Natural Capital is part of CapMan Plc, formed after acquisition of Dasos Capital in 2024.

CapMan Natural Capital manages approximately 240,000 hectares of land across eight EU countries with a market value of 1.5 billion euros, reinforcing its position as one of Europe’s leading independent forest asset managers. The investment team has established a total of 8 forest investment funds and co-investment vehicles since 2009. European Forest Fund IV represents the next phase of growth for the platform, scaling proven strategies across a broader asset base.

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.1 billion euros 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, real asset debt, 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, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

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Volve Capital closes its first €9 million fund to back tech founders at the earliest stages

Volve Capital

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Amsterdam, 2 December 2025 – Volve Capital is proud to announce the final close of its first fund at €9 million, dedicated to investing in startups in their earliest stages across the Benelux and DACH regions.

Founded by Dutch entrepreneurs Joost Bijlsma (30) and Maurits Hovius (32), Volve Capital was built on a simple insight: early-stage founders need investors who actually understand what “day zero” feels like. Having experienced the process of building companies from scratch, both as founders and as investors, Bijlsma and Hovius created Volve Capital to be the partner they once needed.

Unlike traditional venture capital funds, Volve Capital operates with the speed, energy, and pragmatism of the startups it backs. Supported by a network of operators, Volve Capital helps founders level up in tech, data, GTM, marketing, ops, and finance – giving them the momentum they need right from the start.

After twelve months of fundraising, Volve Capital officially launches its first fund, Fund I, at €9 million. The fund focuses on pre-seed (very early) stage companies, with initial investments ranging from €150,000 to €500,000 and follow-on capacity of up to €1 million per company. Volve Capital plans to make approximately 12 to 15 investments in total, seven of which have already been completed in the startups Eddygrid, NOX Energy, Stippl, Conservio, Whisper, Twindo and Supplied.

“Founders need the right partner from the very beginning. Going from zero to one is the hardest step – I’ve lived it. We want to be that partner; offering capital and, more importantly, support,” says Joost Bijlsma.

“There’s plenty of funding available in the ecosystem once founders start to show traction, but at day zero it’s still often hard to find – especially when looking for investors willing to take the lead in these early rounds. That’s exactly where we step in. And yes – we actually do lead pre-product and pre-revenue deals,” Maurits Hovius adds.

Fund I is supported by approximately 30 Dutch entrepreneurs as limited partners, including Henk Jan Beltman (Tony’s Chocolonely), Roelof Bijlsma (former founder of Conclusion), Heleen Dura van Oord (Peak Capital), and Mathieu Zwinkels (former Waterland), who also serve on Volve Capital’s advisory board. Additional financial backing was provided through the RVO Seed Capital program.

After completing all 12 to 15 investments, Volve Capital aims to continue its mission with the launch of a second fund.

About Volve Capital

Volve Capital is an early-stage venture fund founded in 2024 by Joost Bijlsma and Maurits Hovius, investing in ambitious founders across the Benelux and DACH regions. By combining capital with operational expertise, Volve helps teams build faster, scale smarter, and create lasting value.

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Swiss Government Extends Technology Fund Mandate with Emerald through 2030

Emerald

Zurich, Switzerland — Emerald Technology Ventures, a pioneering climate tech venture capital firm, has announced that the Swiss Government, through the Federal Office for the Environment (FOEN), has officially extended the mandate for Emerald to manage the Technology Fund through 2030.

Since being awarded the Technology Fund mandate in 2014, Emerald has served as the external management agency on behalf of FOEN, assessing, recommending, and overseeing guarantee applications for climate‐tech Small and Medium Enterprises (SMEs) in Switzerland. The Fund supports innovations in greenhouse gas reduction, renewable energy deployment, resource conservation, and energy efficiency.

The extension to 2030 affirms the Swiss Government’s confidence in Emerald’s ability to deliver on ambitious climate, environmental, and economic outcomes, and positions the Fund to continue accelerating Switzerland’s climate‐tech ecosystem over the coming years.

Key Highlights & Impact

  • Proven track record: Over its mandate since 2014, Emerald has managed the guarantee process with rigor, transparency, and operational excellence. The Technology Fund has become a cornerstone instrument in Switzerland’s climate policy architecture.
  • Significant scale & environmental impact: The Fund’s portfolio companies have collectively realized considerable reductions in greenhouse gas emissions and advanced technologies helping Switzerland meet its climate goals.
  • Supporting SME innovation without equity dilution: By offering loan guarantees rather than equity, the Technology Fund fills a vital gap in financing for climate‐tech SMEs, helping them access bank credit under favourable conditions.
  • Strong institutional backing through 2030: The extended mandate ensures continuity, enabling Emerald to build further on the Fund’s impact, expand access, and deepen partnerships with private capital, research institutions, and the start‐up ecosystem.

Quotes from Emerald Leadership

“We are honoured by the trust the Swiss Government has placed in Emerald by extending this mandate through 2030,” said Simone Riedel Riley, Partner at Emerald and Head of the Technology Fund. “Over the past decade, we have worked tirelessly to ensure that the Technology Fund serves not only as a financial instrument, but also as a catalyst for innovation, environmental impact, and sustainable economic growth. This extension gives us the stability and horizon needed to scale further and deliver even greater results for Swiss climate‐tech SMEs, investors, and society at large.”

Gina Domanig, Managing Partner and CEO of Emerald, added: “This extension is a powerful signal to the market: Switzerland believes in the power of climate innovation, and Emerald is committed to delivering on that belief. Together, we will continue to unlock green technologies, support ambitious entrepreneurs, and generate both environmental and financial returns.”

Quotes from Technology Fund Portfolio Companies

David Eberli, Founder und CEO, smart-me: “The guarantee from the Technology Fund enabled us to deepen our product development and accelerate our market launch. This was particularly important because, as a startup, it is often not easy to find sufficient capital for the successful further development of innovative products.”

Gian Andri Diem, CEO, dhp Technology: “Support from the Technology Fund was an important building block for the success of our solar folding roof technology – for example, in the world’s largest movable solar folding roof over the Thunersee wastewater treatment plant with 3.5 MWp. In a challenging market environment, the Technology Fund enables sustainable innovation, visibility, and trust.”

Roger Stahel, CEO, IS SaveEnergy: “The guarantee from the Technology Fund helped us finance our internationalization strategy and our strong growth path. We were able to quadruple our revenue since! Last year we sold about 60 large installations all over Europe, the U.S., and South America.”


More on Emerald in Switzerland:

Emerald Technology Ventures Celebrates 25 Years of Climate Tech Leadership

Emerald leads CHF 23.5 M investment in Embotech, autonomous driving innovator

bNovate to expand globally – accelerating rapid water monitoring – with new Emerald investment

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm, founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with four current funds, hundreds of venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups.

This is Emerald.

Bold Ideas. Bright Future.  www.emerald.vc

CONTACT FOR EMERALD:

info@emerald.vc

About the Swiss Technology Fund

The Technology Fund is a political instrument of the Swiss government’s climate strategy. Emerald Technology Ventures AG manages the Swiss Technology Fund on behalf of the Federal Office for the Environment (FOEN) together with its subcontractor South Pole AG. The Climate Division of the Swiss Federal Office for the Environment FOEN is responsible for its strategic governance. By providing financial backing to companies advancing innovative climate solutions, the fund fosters the development of technologies that contribute to the reduction of greenhouse gas emissions and promote sustainability.

www.technologyfund.ch

Contact  for the Technology Fund:

info@technologiefonds.ch

 

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