Apollo partners with Hostplus to launch $1.25 billion Asia Pacific Credit Strategy

Apollo
Multi-sector, yield-focused mandate leverages Apollo’s origination and credit expertise in APAC Region

NEW YORK and MELBOURNE, Australia, June 22, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the formation of an Asia Pacific Credit Strategy in strategic partnership with Hostplus, one of the five largest superannuation funds in Australia. The new strategy launches with US$1.25bn in assets, following an inaugural raise that includes a $500 million anchor commitment from Hostplus alongside Apollo’s internal and affiliated insurance balance sheets. The dedicated strategy brings Apollo’s global credit platform together with local expertise to capitalize on growing demand for private credit across Asia Pacific, providing companies and sponsors with flexible and bespoke solutions.

The Asia Pacific Credit Strategy is designed to leverage Apollo’s credit expertise and differentiated asset origination to source high-quality opportunities across the yield spectrum. Today, Apollo has more than $10 billion1 of assets under management invested in the region and a growing team of nearly 60 investment professionals. Last year, Apollo appointed Partner Matt Michelini as Head of Asia Pacific, now based in Singapore, and hired an Australia-based credit team led by Partner Anthony Hermann, among other key additions.

Apollo Co-President Jim Zelter said, “This strategy is a natural extension of our global credit capabilities and reflects growing demand in the region for flexible, expedient capital solutions from non-bank lenders. We are pleased to launch Asia Pacific Credit in alignment with our long-term partners at Hostplus, who share in our disciplined investment philosophy.”

Hostplus CEO David Elia commented, “We are delighted to extend our 13-year relationship with Apollo, one of the leading global credit managers. This launch is part of our broader investment strategy to help to further diversify our investment portfolio to protect and grow our member investments over the long-term. Credit plays an important role in our strategic asset allocation to ensure we spread investment risk and help stabilize our investment portfolio, smoothing the ups and downs of investment market cycles.”

“We continue to make tremendous progress building our team and capabilities across Asia Pacific to serve the growing credit needs of companies in the region,” said Matt Michelini, Apollo Partner and Head of Asia Pacific. “This new strategy seamlessly combines our global capital base and ability to provide large-scale, differentiated, cross capital structure solutions with local expertise and origination.”

The Asia Pacific Credit Strategy will focus geographically on Australia, India, Singapore, South Korea and Hong Kong, with select deployment across other parts of the region. Launch of the strategy follows increasing investment activity in APAC for Apollo. Recently, Apollo-managed credit funds provided a comprehensive, US$750 million financing for Mumbai International Airport Ltd., one of the largest-ever private placements in India. Apollo also helped to structure and made a cornerstone investment in a A$150 million sustainability-linked note issuance for Ampol in Australia, with targets that included carbon-emission reductions and installation of EV charging points supported by 100% renewable energy.

In addition to increased investment opportunities in the region, Apollo continues to grow its partnership with key Asian and Australian investors. Since 2017, Apollo has raised more than $22 billion from institutional investors in the region.

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 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 March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.

About Hostplus
Hostplus has grown to be one of the largest industry super funds in Australia. With over 1.5 million members, more than 250,000 employers and $89 billion in funds under management (as at 20 April 2021), our scale and ongoing growth allows for low member costs and a broad range of investment opportunities. To learn more, please visits www.hostplus.com.au.

Contacts

Apollo

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

Joanna Rose
Global Head of Corporate Communications
212-822-0491
Communications@apollo.com

Hostplus

Nathan Motton
+61 447 771 882
media@hostplus.com.au

1 APAC-based assets as of 3/31/22 with pro forma inclusion of commitment to Mumbai International Airport Ltd.

 


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Source: Apollo Global Management, Inc.

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Butterfly Ventures from Finland announces new sustainable fund

Tesi

The Finnish fund manager Butterfly Ventures has announced a new sustainable fund which bases its  operations on the EU Arcticle 8 and on the related Sustainable Finance Disclosures Regulation (“SDFR”). The first closing was made at EUR 47 million, and the targeted size is EUR 100 million.

The fourth fund by the manager invests in science-driven deep tech and hardware startups in the Nordics and the Baltics.

Butterfly Ventures differentiates in the Finnish market with its close cooperation with local universities and research communities. This cooperation can generate new deep tech and hardware startups among others, and the commercialization of their innovations. The fund manager thus has a noticeable impact on the society, and we at Tesi are glad to be able to support the continuation and development of such operations,” comments Enni Rautio, Investment Manager at Tesi.

From the very beginning, Tesi has supported us in fund raising. They have sparred us along, and Tesi’s thorough approach is highly thought of among investors. Such approach has been especially valuable as this is the first time when Tesi and its Swedish counterpart, Saminvest, are cornerstone investors in a fund where the latter operates under AB-structure and and other investors in the Finnish KY-structure”, elaborates Juho Risku, partner and founder at Butterfly Ventures.

Also, the KRR IV fund-of-funds managed by Tesi gave an investment commitment in the new fund. Read about the KRR concept, established to boost the investment operations of Finnish institution investors. Neither Tesi or KRR have invested in the other, earlier funds by Butterfly Ventures.

Read more:

 

Additional information:

Enni Rautio, Investment Manager, Fund Investments
enni.rautio@tesi.fi
+358 45 137 3653

 

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi @TesiFII

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360 Capital launches its new €45M fund to back Preseed & Seed ventures

360 Capital

360 Capital is pleased to announce the launch of its 360 Square II early-stage fund with a closing of €45M.

This comes on the back of the highly successful 360 Square I which among its 24 investments winners such as Exotec (France’s 25th unicorn), Preligens, Casavo, Alsid (sold to Tenable), Bergamotte (sold to Bloom&Wild), Tediber (sold through a management buyout), Tiller Systems (sold to SumUp) and, and Neutrino (sold to Coinbase).

Leveraging its predecessor’s strategy, 360 Square II will continue targeting early-stage tech companies (pre-seed and seed) with a balanced focus on Deeptech, B2B software and consumer tech. As bold trend seekers, 360 Capital seeks talented founders across Western Europe (France, Italy, Spain in particular) to support their ambitious projects with tickets from €200K to €2M. Two investments have already been committed and will be announced shortly.

This new fund has attracted strong support from reputable investors amongst which the “Fonds National d’Amorçage 2” (French Tech Seed 2), managed on behalf of the French State by Bpifrance, MAIF Avenir, Crédit Mutuel Arkéa, Groupe Rocher, and several European Business Angels.

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Advent International raises $25 billion for 10th global private equity fund

Advent International
  • Advent’s largest ever fundraise, GPE X, brings firm’s assets under management to over $100 billion
  • Fundraise demonstrates confidence in Advent’s long-established and highly effective strategy of investment, focused on specific sectors and operational improvement
  • GPE X follows the $4 billion raised by Advent Tech II, Advent’s second dedicated technology fund, in 2021
  • New Fund is more than 40% larger than Advent’s previous Global Private Equity (GPE) fund, GPE IX, which raised $17.5 billion in 2019

BOSTON and LONDON, May 24, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has completed fundraising for its flagship fund, Advent International GPE X (“GPE X” or the “Fund”). The Fund reached its hard cap of $25 billion (€22.1 billion) in commitments after less than six months in the market.

Together with GPE X’s companion fund, Advent Tech II, the firm has raised over $30 billion in commitments in approximately 12 months from its limited partners and internal capital from Advent.

Building on successful strategy
Following the same successful strategy as its prior GPE funds, GPE X will have the flexibility to deploy capital across geographies, sectors, deal types and sizes. GPE X will maintain its predecessor funds’ focus on Europe and North America, while also continuing to build Advent’s active local presence in Asia.

“In our nearly 40 years of experience, one thing we know is true is that when you partner with outstanding business leaders and together build great companies, great results follow. The GPE X fundraise, alongside our recent raise for its companion fund, Advent Tech II, are a testament to the trust our investors place in us, particularly in challenging global economic and political circumstances,” said David Mussafer, Managing Partner and Co-Chair of Advent’s Executive Committee. “We are humbled and invigorated by their trust and look forward to working hard every day to continue to earn it.”

Investments in GPE X will build on Advent’s global reach, strong operational resources and the deep expertise and entrepreneurial approach of the firm’s 265 plus investment professionals across five core sectors: Business & Financial Services; Healthcare; Industrial; Retail, Consumer & Leisure; and Technology. Advent will also continue to focus on investments where it has a strong track-record, such as complex carve-outs from major corporations and public-to-private transactions. Since its inception, Advent has invested more than $15 billion in over 90 corporate carve-outs across 28 countries and has completed more than 25 public-to-private transactions. The Fund also has the potential to co-invest with Advent Tech II and Advent’s Latin America-focused fund.

“Years of focus on operationally-intensive investing is at the heart of Advent’s track record of helping nurture and grow innovative, world-class businesses” said James Brocklebank, Managing Partner and Co-Chair of Advent’s Executive Committee. “Our expanding portfolio support ecosystem, our in-house data science capability “Advent Labs”, and our prioritization of ESG in the portfolio are all examples of how we continue to develop new ways to help management teams achieve sustainable growth at scale.”

Majority owned by its partners
Advent is a privately held firm majority-owned by its partners. This partnership model is designed so that control of the firm rests with the people who work there, creating a shared goal that ensures Advent is built to deliver for its investors, companies, team and community and will continue to do so for many years to come.

Established investor base
Commitments to the Fund were secured from a broad mix of international investors, including public and private pensions, sovereign wealth funds, endowments and foundations, institutional fund managers, family offices, and high net worth individuals. Most of the Fund’s commitments came from limited partners in prior Advent funds.

This press release is not an offer or solicitation of an offer, or an invitation or inducement, to invest in any Advent International fund. No person may invest in any Advent International fund except in accordance with and subject to the terms of the applicable fund documentation and applicable law.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and at the time of closing of GPE X, Advent has over $100 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For nearly four decades, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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KKR Closes Inaugural Asia Credit Fund at US$1.1 Billion

KKR

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Credit Opportunities Fund (“ACOF” or the “Fund”), a US$1.1 billion fund focused on performing privately originated credit investments in Asia Pacific.

“Our credit strategy is highly complementary to our existing equity strategies in Asia, and the close of ACOF represents a significant milestone for KKR in Asia Pacific as we continue to build out our suite of investment capabilities and capital solutions across asset classes,” said Ming Lu, Head of KKR Asia Pacific. “Asia continues to benefit from favorable macroeconomic trends and long-term growth. However, the number of financing options available to companies looking to keep pace with this rapid growth has remained limited. We believe these dynamics provide an attractive landscape for alternative asset managers like KKR who are able to provide more flexible and differentiated credit solutions than traditional lenders.”

KKR’s Asia Credit platform seeks to provide bespoke private credit solutions to companies and sponsors which harness the strength of KKR’s alternative investment capabilities and its expertise as one of the largest alternative credit managers globally. The Asia Credit team leverages KKR’s local and global resources to source, diligence, and execute investment opportunities to provide customized financing, ensure capital protections, and support value creation in the process. ACOF intends to pursue investments primarily in performing privately originated credit, and broadly target opportunities across three primary investing themes, including senior and unitranche corporate lending, subordinated corporate lending, and asset-based finance investments.

Brian Dillard, Head of Asia Credit at KKR, said, “Bank capital represents approximately 80 cents of every dollar of credit capital in Asia, which is a far larger percentage than what we are seeing in North America and Europe. There is an imbalance of available financing for Asian businesses at a time when the region’s growth and prosperity have fueled an enormous demand for more flexible funding solutions by borrowers looking to seize the opportunities. With limited non-bank supply, we believe this market presents compelling opportunities for alternative credit providers like KKR. With ACOF, we are excited to play a larger role in meeting this unmatched demand and assisting leading businesses and sponsors across the region to meet their long-term growth ambitions.”

At the time of close, the Fund is the largest inaugural pan-regional fund focused on performing credit and one of the largest inaugural pan-regional credit funds to have been raised for Asia Pacific. ACOF received strong support from a diverse group of new and existing investors, including public and corporate pensions, sovereign wealth funds, commercial banks, insurance companies, asset managers and private investment groups, and family offices. KKR invested over US$100 million alongside external investors through its balance sheet and employee commitments.

In Asia Pacific, KKR has closed 14 credit investments since 2019, accounting for approximately US$2.4 billion invested by KKR and total transaction value of US$4.7 billion. This has included providing acquisition financing and bespoke capital solutions for companies and financial sponsors in the environmental services, real estate, education, infrastructure, and healthcare sectors. KKR Credit has been active in markets including Australia, Greater China, India, Korea, Malaysia, New Zealand, Singapore, and Vietnam.

KKR established its credit platform in 2004, and made its first private credit investment in 2005. Over the past 17 years, KKR has built one of the largest private credit platforms globally with the ability to invest across the capital structure and liquidity spectrum. These capabilities are paired with KKR’s approach to proprietary sourcing, capital preservation and active portfolio management to seek out long-term capital appreciation and attractive risk-adjusted returns. Today, KKR manages approximately US$184 billion of credit assets globally, including approximately US$102 billion in leveraged credit, approximately US$71 billion in private credit, and approximately US$10 billion in strategic investments, as of March 31, 2022. KKR has a team of approximately 170 credit investment professionals across nine cities in seven countries, including approximately 90 private credit investment professionals globally.

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 and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.co
or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

KKR Americas
Julia Kosygina and Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR & Co. Inc.

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Aquiline Announces Closing of Aquiline Technology Growth Fund II

Aquiline

Fund closed with more than $365 million in total commitments, exceeding its target of $300 million

NEW YORK and LONDON, May 4, 2022 /PRNewswire/ — Aquiline Capital Partners LLC (“Aquiline”), a private investment firm based in New York and London with $8.7 billion in assets under management, today announced the final closing of Aquiline Technology Growth Fund II (“ATG II” or the “Fund”). The Fund closed with more than $365 million in total commitments, exceeding its target of $300 million and nearly doubling the $189 million in total commitments raised for Aquiline Technology Growth’s (“ATG”) first fund.

Aquiline has raised the Fund from new and existing investors around the world and plans to continue ATG’s strategy of partnering with innovative early- and growth-stage technology companies across fintech, insuretech and related enterprise software and services. ATG has made 27 investments over two funds, investing across the financial services value chain in companies that use technology to enable functions including sales and distribution, automation of back-office functions, and product innovation.

“Today is yet another important milestone for Aquiline and a testament to the strong reputation we have developed with institutional investors around the world through our distinct investment approach,” said Jeff Greenberg, Chairman and CEO of Aquiline Capital Partners. “We are confident that our team is well-positioned to identify and invest in high-growth companies that can benefit from our robust network and deep industry expertise.”

“With this larger fund, ATG is now even better positioned to be a trusted partner to entrepreneurs who are building exciting, fast-growing businesses in our target markets across financial services,” said Max Chee, Head of Aquiline Technology Growth. “We are thrilled to have added some very important investors to our community and look forward to building and enhancing great companies together.”

“Our specialist focus has allowed us to target and invest in businesses that are solving real pain points in markets across financial services, such as insurance, that are not as well understood by the broader investment community and are earlier in their adoption of digital technologies than many other industries,” said Mike Cichowski, who leads ATG’s growth investing, which partners with boot-strapped companies requiring capital to accelerate growth.

About Aquiline Capital Partners Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, business services, and healthcare industries. The firm had $8.7 billion in assets under management as of March 31, 2022. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.

About Aquiline Technology Growth Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private investment firm based in New York and London investing in companies across financial services and technology, business services, and healthcare industries. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit http://www.aquiline.com.

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KKR Closes $19 Billion North America Private Equity Fund

KKR

Fund to Implement Shared Ownership Program in Majority-Owned Investments

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR North America Fund XIII (“NAX3” or the “Fund”), an over-subscribed $19 billion fund focused on pursuing opportunistic private equity investments in North America. KKR will be investing $2.0 billion of capital in the Fund alongside investors through the Firm’s balance sheet, affiliates, and employee commitments.

“We are thrilled to have had such strong receptivity to our fundraising effort, and we are extremely proud of the results we’ve been able to deliver for our investors,” said Pete Stavros and Nate Taylor, Co-Heads of the Americas Private Equity platform at KKR. “Particularly at a time of continued volatility, we believe we are entering a macroeconomic environment that is tailor-made for private equity and for KKR specifically, and are grateful to have the support of our investors and their confidence in our team. We look forward to continue executing on our investment approach, which is centered on leveraging our deep industry expertise and driving holistic operational transformations utilizing the full suite of resources KKR has to offer. We are excited about the early momentum for NAX3 and remain laser focused on delivering outstanding results.”

KKR has a more than 45 year track record investing in North America. Over the past decade and across NAX3’s two predecessor funds, KKR North America Fund XI and KKR Americas XII Fund, KKR has delivered an average gross IRR of 30.1% (25.1% net) and a gross multiple on invested capital of 2.6x (2.2x net). In comparison to the S&P 500, this has resulted in net outperformance of more than 850bps, against the backdrop of near-unprecedented performance of the index over that decade. KKR Americas XII Fund, which began investing in 2017, is now fully deployed. It has generated a gross IRR of 50.1% (41.9% net), with a gross multiple of 2.6x (net 2.2x), as of December 31, 2021. With the closing of NAX3, KKR’s Americas Private Equity platform has more than $90 billion in assets under management across flagship, growth and core investment vehicles.

“Thanks to the strength of our Americas Private Equity investment team and extensive collaboration across our Firm, we are pleased to have been able to deliver consistent and attractive risk adjusted returns to our investors, even in the face of a global pandemic,” said Alisa Amarosa Wood, Global Head of Private Markets and Real Assets Product Strategies at KKR. “With this closing of KKR’s largest fund in our history, we are excited by our investors’ shared enthusiasm for the investment opportunities we continue to see ahead.”

NAX3 received strong support from a diverse group of both new and existing investors globally, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, private wealth platforms, family offices, high-net-worth individual investors and other institutional investors.

The Fund intends to implement KKR’s broad-based employee ownership program at majority-owned companies in which it invests. Since 2011, KKR has focused on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. The firm is committed to deploying the model in all control investments across its entire Americas Private Equity platform. To date, KKR has awarded billions of total equity value to over 45,000 non-senior employees across over 25 companies.

Earlier this month, KKR joined more than 60 organizations in becoming a founding partner of Ownership Works, a nonprofit created to support public and private companies transitioning to shared ownership models.

Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

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 and on Twitter @KKR_Co.

Media:
Cara Major
212-750-8300
media@kkr.com

Source: KKR

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InfraVia closes its new infrastructure fund at €5bn hard cap

InfraVia

InfraVia Capital Partners announced today that it has successfully closed its 5th infrastructure fund, InfraVia European Fund V, at its €5bn hard cap.

  • With the closing of InfraVia European Fund V, InfraVia reaches a total of €10bn in capital commitments
  • InfraVia European Fund V saw strong demand from investors globally and was oversubscribed reaching a €5bn hard cap
  • InfraVia is well placed to continue to deploy its strategy of investing for resilience and value creation
  • InfraVia supports European infrastructure businesses in their growth plans and creates more sustainable companies in the process
  • InfraVia focuses on 4 main areas: digital infrastructure, energy transition, social infrastructure and mobility

With the closing of InfraVia European Fund V, InfraVia has now raised a total of €10bn in commitments across a diversified LP base of over 150 investors from across the globe – Europe, North America, South America, Asia and the Middle East.

Demonstrating support for the asset class and recognition of the firm’s investment strategy and track record in value creation, InfraVia European Fund V saw strong demand from a wide variety of investors globally including insurance companies, pension funds as well as Family Offices and private banks. Despite the challenging Covid environment, the fund was significantly oversubscribed and exceeded its original €3bn target to reach a €5bn hard cap.

Vincent Levita, Founder and CEO of InfraVia declares: “We are extremely proud of this fundraising testament not only to the resilience of the asset class and the excellent track record of the team but also to the depth and strength of our relationships. Over half of commitments came from our existing client base, representing a 100% re-up rate, and we are also very proud to have been able to onboard so many new investors in such a challenging period. We are truly humbled by the continued support for our platform.

InfraVia has delivered a solid track record in European infrastructure over the last 14 years focusing on digital infrastructure, energy transition, social infrastructure and mobility. Fund V will aim to continue to implement the same successful platform strategy as that of prior funds, focusing on European mid-market infrastructure assets that display resilient characteristics and present significant value creation potential. The fund will also continue to build on the team’s successful active asset management approach looking specifically at ESG, talent
management and digitalization to further drive value creation. InfraVia European Fund V is categorized as Article 8 under SFDR reflecting InfraVia’s longstanding approach of integrating sustainability throughout its investment process.

The fund has already been able to seize a number of investment opportunities closing its first investment – Grandir, a leading childcare and early education operator in September 2021. The fund has subsequently made two further investments in communications infrastructure, first announcing a JV with Liberty Global to develop FTTH in rural Germany in December and recently announcing a third investment in Ireland, Fibre Networks Ireland, that is expected to close in
Q2 2022.

Bruno Candès, Partner at InfraVia concludes: “Infrastructure has proven its resilience as an asset class and we expect it will play an increasingly important role in the post-covid economy. We continue to see significant opportunity to invest and with this new fund, we will continue to partner with infrastructure businesses to help them develop and grow, delivering long-term value for our investors as well as the economies in which they operate.

InfraVia has been advised for this fundraising by First Avenue Partners (placement agent) and by Simmons & Simmons (legal).

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PRESS CONTACTS

INFRAVIA
Vincent LEVITA Founder and CEO
vlevita@infraviacapital.com
+33 (0)1 40 68 17 38

TADDEO
Antoine Denry
antoine.denry@taddeo.fr
+33 (0) 6 18 07 83 27

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Eurazeo smart city II Venture Fund completes second closing closing with new partners in Europa & Asia

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Eurazeo

Eurazeo is pleased to announce the 2nd closing of Eurazeo Smart City II Venture fund1
at €150 million with new institutional and corporate partners in Europe and Asia.

Eurazeo’s Venture practice has been active in the Smart City space since 2016. At the crossroads
of digital technologies and the transition towards more sustainable cities, Eurazeo Venture Smart
City Fund’s focus is to invest in high-growth, innovative companies fostering the transition towards
more liveable and sustainable cities. The fund will invest in the most critical sectors to transition
towards a low-carbon economy worldwide: Energy, Mobility, Logistics, Buildings and Industrial
Tech.

After the success of its initial closing at €80 million in 2021, this 2nd closing brings together toptier institutional and corporate investors including European Investment Fund (EIF), the Korean Venture Investment Corporation (KVIC), Momentum Venture Capital (SMRT, Singapore), SCG
(Thailand) and SWK the German electric utility. These new partners join an already strong group in
Europe and Asia which includes French, German, and Asian groups such as carmaker Stellantis,
electric utilities EDF and Mainova, mass transit operator RATP, energy major Total, logistics
champion Duisport and Thai real estate developer Sansiri as well as institutional investors PRO
BTP and family offices.

The success of this new round of fundraising reflects the strong results of prior vintage Smart City
I which has already seen 5 companies complete exits through public listings or acquisitions in 2021:
Volta Charging (US, on NYSE), Bird (US, on NYSE), Forsee Power (FR, on Euronext), Glovo (SP,
acquisition by Delivery Hero), and Grab (SG, on NYSE). Two additional companies from Fund I are
registered to IPO in the coming 12 months reflecting the dynamism of sectors addressed by the
fund such as electric mobility, accelerated by the recent pandemic.

The team has started to invest Fund II in pioneering digital companies which are supporting the
rapid transformation of cities and more sustainable consumer behaviours: rapid urban EV charging
(Electra, France), e-bike sharing on subscription (DANCE, Germany), reusable packaging (Pyxo,
France), new mobility service offering door-to-door carsharing through a fleet of teledriven
vehicles (Vay, Germany), app-based property management services (Witco, France) and alternative
end-to-end supply chain services for e-merchants (Cubyn, France) .

Managed par Eurazeo Investment Manager

Matthieu Bonamy, Partner at Eurazeo shares:
“Our continued momentum with multiple IPOs this year, and the clear need
– substantiated yet again by COP26 – to finance companies which can truly
unlock the technology bottlenecks of the climate crisis, have accelerated our
speed of fundraising. Cities play a huge role in climate change as they
consume 78% of the world’s energy and produce over 60% of the world’s
greenhouse gases. We think ambitious entrepreneurs and digital
technologies can be part of the solution to transition towards more livable
and sustainable cities. We are grateful for the trust given by the European
Investment Fund (EIF) and several new corporate partners in Europe and
Asia.”

EIF Chief Executive Alain Godard said:
“Smart Cities significantly contribute to reducing pollution, waste, energy and
water consumption, whilst inducing positive change in urban and consumer
behaviours. We are pleased that EIF can support the Eurazeo Smart City Fund
II which prioritises new technologies, making cities more sustainable and
liveable. Via the Pan-European Guarantee Fund, we will continue to finance
innovative technology companies, run by outstanding entrepreneurs and help
them to create world class leaders in high growth markets.”

ABOUT THE EUROPEAN GUARANTEE FUND
 The European Guarantee Fund (EGF) was created by the EIB Group (EIB and EIF) with
contributions from Italy and other EU Member States to protect businesses that are struggling
in the crisis caused by COVID-19. With almost €25 billion in guarantees, the EGF allows the EIB
and EIF to swiftly offer companies, mostly SMEs and mid-caps, access to loans, guarantees,
asset-backed securities, capital and other financial instruments. The EGF forms part of the
package of recovery measures put in place by the European Union, with the objective of
providing a total of €540 billion to support the hardest hit sectors of the EU economy.

ABOUT EURAZEO
 Eurazeo is a leading global investment company, with a diversified portfolio of €27 billion in
assets under management, including nearly €19.2 billion from third parties, invested in
450 companies. With its considerable private equity, venture capital, private debt as well as
real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes,
supporting their development through the commitment of its nearly 300 professionals and
by offering deep sector expertise, a gateway to global markets, and a responsible and stable
foothold for transformational growth. Its solid institutional and family shareholder base,
robust financial structure free of structural debt, and flexible investment horizon enable
Eurazeo to support its companies over the long term.

 Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London,
Luxembourg, Frankfurt, Berlin, Milan and Madrid.
 Eurazeo is listed on Euronext Paris.
 ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACT
Virginie Christnacht

HEAD OF COMMUNICATIONS
vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44
Pierre Bernardin

HEAD OF INVESTOR RELATIONS
pbernardin@eurazeo.com
+33 (0)1 44 15 16 76

PRESS CONTACT
Julia Fisher
EDELMAN
Julia.Fisher@edelman.com
+1 646 301 2968

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EQT sets target fund size of EQT X at EUR 20 billion

eqt

THIS IS INFORMATION THAT EQT AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT BELOW AT 19:15 CET ON 18 JANUARY 2022.

EQT has today set the target size for the EQT X fund at EUR 20 billion. The actual fund size is dependent on the outcome of the fundraising process and may ultimately be higher or lower than the target size. The EQT X fund’s investment strategy and commercial terms are expected to be materially in line with predecessor fund EQT IX.

To ensure continuity between two fund generations, EQT’s capital raisings usually follow a cycle with successor funds generally targeted to be in a position to commence investment activities when the predecessor fund is close to being fully invested. This means that the commitment period of the predecessor fund typically ends when approximately 80 to 90 percent of its total commitments are invested, with remaining commitments used primarily for add-on acquisitions and strategic capital injections as well as for ongoing expenses.

Management fees for the successor fund will be charged from the earlier of (i) the date of closing of the first investment by the successor fund; or (ii) the date of termination of the commitment period of the predecessor fund. Management fees on the predecessor fund are thereafter based on net invested capital.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America.  Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has more than EUR 70 billion in assets under management across 27 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 1,100 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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