EQT enters exclusive talks with ICG Infra to acquire Ocea Group, a leading French water and heat submetering infrastructure provider

eqt
  • Ocea is a provider of smart water and heat metering infrastructure in France, operating under long-term inflation-linked contracts in an industry benefiting from long term visibility and regulation-driven growth
  • Ocea helps the energy transition through measurement of individual consumption, which significantly incentivizes customers to make more environmentally conscious decisions. Submeter installation is shown to reduce energy consumption and water usage by 15%1
  • EQT plans to further accelerate the Company’s growth, applying its track record in the energy and environmental sectors. ICG Infra strongly supported Ocea on significant initiatives to contribute to its growth in the energy transition

EQT is pleased to announce that EQT Active Core Infrastructure fund (“EQT”), has entered exclusive negotiations to acquire Ocea Group (“Ocea”, or the “Company”) from ICG Infrastructure Equity I (“ICG Infra”).

Ocea aims to play a key role in the rollout of smart water and heat submetering devices leading to tangible savings for customers and positive impact for the environment. It operates more than four million heat and water submeters. Through long-term, 10+ year inflation-linked contracts, the company provides a comprehensive range of submetering services to over 7,000 public and private customers, including installation and rental, reading and data collection, and maintenance and replacement.

The Company is expected to benefit from favorable growth trends in the French submetering market owing to regulation and strong consumer demand to allocate and reduce consumption. Penetration rates are expected to improve both across the water and heat segment, while creating significant adjacent business opportunities.

Since acquiring a majority stake in Ocea in 2019, ICG Infra undertook a series of initiatives to support its growth in the energy transition, driven by a management team of seasoned executives led by CEO Emmanuel Croc.

EQT plans to support Ocea’s growth in its core submetering business and across other adjacent solutions in the environmental, data management and smart housing segments. EQT would help Ocea to continue the expansion of its asset and client base, drive growth through capex-enabled sustainable energy solutions and make significant investments in digital customer services.

Fabian Gröne, Partner in the EQT Active Core Infrastructure Advisory Team, said: “This potential investment aligns with EQT’s approach of investing in essential services that have a positive impact on society, and builds on our track record in the circularity and resource efficiency themes. Ocea would mark EQT Active Core Infrastructure’s third investment, which is focused on acquiring core businesses with strong downside protection and inflation-linked contracts backed by thematic market growth – while still providing significant value creation opportunities from EQT’s active ownership approach.”

 

Thomas Rajzbaum, Partner and Head of EQT’s French Infrastructure Advisory Team, added: “We have followed Ocea for a long time and have been deeply impressed by its growth track record. We are thrilled by the prospect of partnering with the management team to further strengthen the Company’s positioning in France and abroad through continued growth in its asset base and investments in digitalisation and sustainable customer solutions.”

Emmanuel Croc, Chief Executive Officer of Ocea, said: “I would like to thank ICG for their strong contribution and expertise over the last four years, and we would be delighted to welcome EQT as a new long-term partner. We see the demand for submetering solutions steadily increasing amidst continued volatility in energy costs, increased customer awareness and desire to save coupled with a favorable regulatory landscape. By combining Ocea’s footprint and customer relationships with EQT’s experience in the energy sector, we plan to scale the platform further and grow in attractive adjacencies such as geothermal.”

Guillaume d’Engremont, Head of Infrastructure at ICG, commented: “Since we first invested in Ocea, our support has allowed the Company to continuously strengthen its position as a leading energy efficiency player by growing its installed base of sub-meters whilst also expanding into additional business lines synergetic with its core business. We are proud to have accelerated this critical mission over the past four years. It has been a pleasure to partner with Emmanuel Croc and the management team, who are doing a fantastic job further growing Ocea in the French market with an industry-leading efficiency and sustainability focus.”

The transaction is subject to customary regulatory conditions and approvals including information and consultation of the works council of Ocea. It is expected to close in Q2-Q3 2024.

EQT was advised by Rothschild & Co (financial), Linklaters LLP (legal), BCG (commercial and ESG) and KPMG (finance and tax).

ICG was advised by Ayache (legal), Bird&Bird (legal) and Eight Advisory (finance).

1Source: ADEME, L’individualisation des frais de chauffage, February 2023

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 Active Core Infrastructure 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.

Contact
EQT Press Office, press@eqtpartners.com
ICG Press Office, Catherine.Armstrong@icgam.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 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 Ocea Group
Groupe OCEA employs around 550 people throughout France (28 agencies) to accelerate the energy transition of collective housing and tertiary buildings through its 3 subsidiaries:

  • Ocea Smart Building: sub-metering of water and heating, water and energy costs allocation and digital solutions for energy management. Our client promess is to reduce their consumption (up to 15% on average across the portfolio).
  • Isiom Conseil: assisting public and private clients for audits and actions plans in order to optimize their property assets, specially on energy efficiency.
  • Qowisio: the specialist in IoT solutions (like temperature sensors, Air Quality,… ) and connectivity

More info: https://www.groupe-ocea.fr/

About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 35 years’ history, managing $86.3bn of assets1 and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, and uses its position of influence to benefit the environment and society. ICG is committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is a member of the FTSE 100 and listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn, X (Twitter) and Instagram

ICG Infra Team manages more than €2.5bn in Europe and seeks to partner with successful management teams and founders, providing growth capital to mid-market businesses across the energy transition, digital and mobility sectors.

ICG Infra Team leverages ICG’s DNA of bespoke capital solutions, investing across capital structures in equity and structured equity instruments creating a defensive risk-return profile for its portfolio whilst seeking to deliver consistent returns for its investors.

1 As at 31 December 2023

Categories: News

Tags:

Indigo Group and Ardian create Clermont, a new venture to accelerate growth in Canada’s parking market

Ardian

Ardian, a world-leading private investment house, and Indigo Group, a global player in parking and urban mobility, today announced Clermont, a new Canadian joint venture formed to invest in parking assets.

As part of the partnership, Indigo will contribute its Canadian-owned properties to Clermont while retaining the operations for each of the properties through Indigo Park Canada. Ardian will support Clermont’s digitization and sustainability efforts to drive value creation. Ardian and Indigo will deploy additional equity over the long term, acquiring parking assets, as well as long-term concessions and leases. Indigo will manage the operations of these assets.

The newly formed company, Clermont, will be led by industry veteran, CEO Gordon Craig, who has nearly 30 years of experience in the parking industry, previously serving as the President of Canadian operations and COO of North America for Imperial Parking (Impark). The partnership between Ardian and Indigo represents the continuation of a long-standing and successful collaboration between the two companies which began in 2014.

“We are excited to launch this new venture and work with such a reputable and experienced management team in Canada. With our proven track record of developing sustainable and digital-first infrastructure assets, in combination with Indigo’s established and innovative parking solutions, Clermont is strategically positioned for accelerated growth within the Canadian market.”

“We are excited to launch this new venture and work with such a reputable and experienced management team in Canada. With our proven track record of developing sustainable and digital-first infrastructure assets, in combination with Indigo’s established and innovative parking solutions, Clermont is strategically positioned for accelerated growth within the Canadian market.” Stefano Mion, Co-Head of Infrastructure Americas, Ardian

Ardian’s Infrastructure team has a long track record of experience developing and acquiring essential infrastructure assets across the global transportation, energy, and digital infrastructure sectors. This transaction will be made through the Ardian Americas Infrastructure Fund V (AAIF V) and complements Ardian’s existing infrastructure portfolio in the Americas.

“We are thrilled to launch this new venture with Ardian, a unique opportunity for Indigo to further expand our footprint in Canada while unlocking value for a growing parking asset portfolio.” John Laires, CEO, Indigo Park Canada

“It’s an honor to be working alongside the teams at Indigo and Ardian, both leaders in their respective industries, in this new venture. Clermont will seek to offer innovative, digitally driven, and sustainable parking operations that provide an enhanced customer experience. We are delighted by the opportunity at hand.” Gordon Craig, CEO, Clermont

PARTIES TO THE TRANSACTION

  • ARDIAN

    • FINANCIAL ADVISOR: AGENTIS
    • LEGAL ADVISOR: GIBSON DUNN, FASKEN
    • TECHNICAL ADVISOR: BTY GROUP
    • COMMERCIAL & MARKET ADVISOR: AT KEARNEY
    • FINANCIAL & TAX ADVISOR: DELOITTE
    • INSURANCE ADVISOR: ALLIANT
  • INDIGO GROUP

    • FINANCIAL ADVISOR: STORMONT PARTNERS
    • LEGAL ADVISOR: MCCARTHY
    • TAX ADVISOR: DELOITTE

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ABOUT INDIGO GROUP S.A.

Indigo Group, which owns nearly 100% of Indigo Infra, Indigo Neo and INDIGO®weel, is a global player in parking and urban mobility, managing more than 1.4 million parking spaces and their associated services in 9 countries. Indigo Group is indirectly 49.2% owned by Crédit Agricole Assurances, through Predica SA and Crédit Agricole Assurances Retraite, 34.3% owned by Vauban Infrastructure Partners and 14.9% owned by MR Infrastructure Investment GmbH (MEAG), and 1.4% held in treasury shares and by the Group’s management, and the remaining of the shares by Infra Foch TopCo S.A.S (0.2%).

MEDIA CONTACTS

ARDIAN

THE NEIBART GROUP MAEVE MALONEY

ardian@neibartgroup.com 

INDIGO GROUP

Categories: News

Tags:

DIF Capital Partners sells UK onshore wind farm project to TfL Pension Fund

DIF

DIF Capital Partners is pleased to announce that DIF Infrastructure IV (DIF IV) has signed an agreement to sell a UK onshore wind farm project to the Transport for London Pension Fund. Closing of the transaction is subject to customary conditions and approvals, and is expected to take place in Q2 2024.

The Wadlow wind farm project, located close to Cambridge, has an installed capacity of 26MW and comprises 13 Vestas V90 2MW turbines. The wind farm has been operational since September 2012 and was acquired by DIF IV in 2016.

Andrew Freeman, Partner and Head of Exits at DIF Capital Partners, said: “We are very pleased with the successful exit of this project. Our proactive approach to divestments helps to deliver attractive risk-adjusted returns for our investors, with this sale further demonstrating the strong track record of our investment strategies.”

“The success of this investment since 2016 demonstrates how financing the energy transition can deliver strong returns for our investors as well as drive the transition to net zero. DIF will be continuing to look for investment opportunities in the UK renewables sector in the coming years.”

DIF IV was advised on the transaction by PKF Francis Clark (financial), Osborne Clarke (legal) and Natural Power (technical).

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

Categories: News

Tags:

DIF Capital Partners raises EUR 6.8 billion for its latest infrastructure funds

DIF

The successful fund raisings for DIF VII and CIF III represent a 50% increase compared to the prior funds.

DIF Capital Partners (DIF), a leading global infrastructure fund manager, is pleased to announce it has raised EUR 6.8 billion for its latest infrastructure funds with final closes across DIF Infrastructure VII (DIF VII) EUR 4.4 billion, DIF Core-Plus Infrastructure Fund III (CIF III) EUR 1.6 billion, and certain Co-investment vehicles EUR 0.8 billion.

DIF experienced strong investor demand from both existing and new institutional investors across the globe, enabling both DIF VII and CIF III to exceed their target fund sizes of EUR 4.0 billion and EUR 1.5 billion respectively. Total commitments for the predecessor funds (DIF VI and CIF II) equaled EUR 3.0 billion and EUR 1.0 billion.

DIF VII targets infrastructure investments, often concession-based or with long-term offtake agreements offering stable and predictable cash flows as well as attractive risk-adjusted returns. Sectors covered are transportation, (renewable) energy, digital infrastructure as well as utilities.

CIF III targets investment opportunities with strong growth potential. It focuses on a broad range of infrastructure sectors including digital infrastructure (specifically datacenters and fibre), energy transition as well as sustainable transportation.

Both fund strategies target a mix of operational and greenfield investments and predominantly focus on Europe and North America.

The funds received commitments from a diverse institutional investor base of more than 110 investors across Europe, the Americas, Asia, and the Middle East, including public and private pension plans, sovereign wealth funds, insurance companies, financial institutions, foundations, and private wealth investors.

Wim Blaasse, CEO at DIF Capital Partners, said: “We are extremely grateful to our investors for their trust and support, and this successful fundraising reinforces DIF’s leading position in the infrastructure market.

In addition, we are excited by the journey ahead as we team up with CVC, and accelerate the growth of our investment capabilities, our geographic reach, and lever the CVC network”.

Gijs Voskuyl, Deputy CEO at DIF Capital Partners, said: “An ever growing demand for infrastructure capital provides an exciting investment opportunity for us, and with our investment track record and experienced teams on the ground across our network of offices in eleven countries, we are confident we can use this capital to take advantage of attractive investment opportunities.”

To date, both funds have invested or committed to nine investments each, thereby deploying around 50% of total commitments. For DIF VII this includes investments in Saur, a global water solutions provider, Fjord1, a Norwegian electric ferry concessions operator and Green Street Power Partners, a US distributed solar developer/IPP. For CIF III this includes investments in metrofibre, a German urban fibre roll-out platform, Tonaquint, a US datacenter platform and Rail First, an Australian rail leasing business.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

Categories: News

Tags:

DIF Capital Partners sells US toll road Northwest Parkway

DIF

DIF Capital Partners (DIF) is pleased to announce that it has signed an agreement to sell its 33.3% stake in Northwest Parkway to VINCI Highways, subsidiary of VINCI Concessions, part of the VINCI group, global concession operator and construction company headquartered in France and listed on the Paris Stock Exchange. DIF is selling its stake in the toll road alongside its co-shareholders HICL Infrastructure PLC and funds managed by Northleaf Capital Partners in a joint sale for 100% of the equity interest in the project.

The Northwest Parkway toll road project (NWP) is a ca. 14km US toll road located in Denver, Colorado. Originally constructed in 2003, NWP comprises the northwest quadrant of the Denver Metropolitan area beltway. Among other purposes, the road serves as a vital connection between Northwest Denver and the Denver International Airport. The road was acquired by DIF in 2017, via its DIF Infrastructure IV (DIF IV) fund and co-investors, alongside consortium members.

Andrew Freeman, Partner and Head of Exits at DIF Capital Partners, said: “This successful exit represents a material transaction for DIF IV, after actively managing it through covid times back to normality, generating strong yield and now realising attractive returns for our investors.”

Closing of the transaction is subject to customary conditions and approvals, and is expected to take place in Q2 2024.

DIF was advised on the transaction by Evercore (financial), Kirkland & Ellis (legal), C&M (traffic & revenue), KPMG (accounting & tax) and Arup (technical).

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with over EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower-risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital infrastructure, energy transition and sustainable transportation sector.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu or follow us on LinkedIn.

Press contacts:
DIF Capital Partners: press@dif.eu

 

Categories: News

Tags:

EQT Infrastructure and CK Hutchison terminate transaction to form an integrated wholesale mobile and fixed communications company in Italy

eqt

The EQT Infrastructure VI fund (“EQT Infrastructure”) confirms the termination of a transaction announced on 12 May 2023. EQT Infrastructure had agreed to acquire a majority stake in Italy’s largest mobile network from Wind Tre.

EQT Infrastructure and CK Hutchison, Wind Tre’s current owner, have decided to terminate the transaction owing to conditions precedent to closing not being satisfied by an agreed longstop date of 12 February 2024. EQT Infrastructure will continue to explore alternative infrastructure transactions, including with CK Hutchison should the appropriate opportunity arise.

With the termination of this transaction, EQT Infrastructure VI is expected to be 25-30 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.

Contact
EQT Press Office, press@eqtpartners.com

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 Infrastructure VI 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 with EUR 232 billion in total assets under management (EUR 130 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 LinkedInXYouTube and Instagram

Categories: News

Tags:

EQT Infrastructure to acquire Statera, a leading battery storage and flexible generation platform supporting the UK’s renewable energy transition

eqt
  • EQT Infrastructure has agreed to acquire Statera, a UK-based battery storage and flexible generation infrastructure developer and operator with 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes
  • Demand for stability services and dispatchable generation from batteries is expected to grow at speed as a result of rapid deployment of intermittent renewable generation and the gradual decommissioning of thermal capacity
  • EQT Infrastructure is committed to further investing in Statera’s ongoing development of battery storage and other flexible energy projects, which is expected to play an integral part in helping the UK reach its Net Zero targets

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to acquire Statera Energy Limited (“Statera” or the “Company”) from InfraRed Capital Partners.

The UK energy landscape is steadily decarbonizing. In parallel to renewable energy gaining traction and thermal generation being phased out, the sector is experiencing a surge in electrification. Previously fossil fuel-driven areas such as heat and transportation are transitioning to electricity. In this evolving situation, the role of energy storage and flexible generation becomes paramount, ensuring a smooth energy transition and maintaining grid stability. Statera is well-positioned to benefit from and meet the increasing demand in this space.

Established in 2015 and headquartered in London, Statera is a prominent player in the UK’s battery storage and flexible energy generation sector, with a robust development track record. In addition to being an early entrant in the battery space, it recognized the importance of other key flexible technologies, namely pumped hydro and green hydrogen production, which are expected to aid the UK’s transition to a predominantly intermittent renewable energy supply. Statera has 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes, and a total project pipeline of over 16GW, with plans to deliver 7.5GW of flexibility assets by 2030.

EQT Infrastructure will support the Statera management team and platform by providing access to growth capital to accelerate the deployment of flexible generation across the UK. It will also draw upon its significant experience of owning and developing companies that are driving the energy transition, as well as the expertise of its 600-person strong global network of Industrial Advisors.

Francesco Starace, Partner within the EQT Infrastructure Advisory Team, said: “In a world increasingly reliant on intermittent renewables and striving to achieve Net Zero emissions, battery storage and other flexible generation solutions are imperative. Both the public and private sectors must commit time, expertise, and capital to innovative solutions that can expedite the energy transition. The partnership between EQT and Statera is an exciting step towards achieving this goal.”

Tom Vernon, Founder and CEO of Statera, added: “It is essential that flexible generation and energy storage technologies are deployed at scale to enable the vast amounts of renewables required to decarbonize power systems. Statera directly addresses this challenge by developing and operating projects which provide the resilience and flexibility required to balance the grid. InfraRed and the team at Statera have been critical components of our success to date, and I am hugely excited to embark on our next phase of growth, in partnership with EQT. This transaction is a significant milestone, and the scale of EQT’s financial support and global footprint means Statera is well positioned to deliver its pipeline of battery, pumped hydro and green hydrogen technologies.”

Stephane Kofman, Head of Capital Gain Funds at InfraRed Capital Partners, said: “Having identified early on the fundamental need for flexibility and storage, we are very pleased to have worked closely alongside management to create a company that is a now a market leader and is playing a key role in facilitating the UK’s energy transition to a low carbon, high renewables future. Throughout our ownership we have continued to support management in evolving and implementing the company strategy, growing the operational and development asset base, actively mitigating revenue volatility and helping to add key infrastructure capabilities across the organisation.”

The transaction is subject to customary conditions and approvals. It is expected to close around the end of the year.

DC Advisory served as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to EQT Infrastructure.

With this transaction, EQT Infrastructure VI is expected to be 20 – 25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on the target fund size.

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 Infrastructure VI 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.

 

Contacts
EQT: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Statera: Elizabeth Adams, statera@fticonsulting.com, +44 7974 982331
InfraRed Capital Partners: infrared@brunswickgroup.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 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, Twitter, YouTube and Instagram

About Statera
Statera Energy is a UK-based energy company that develops, owns, and operates flexible generation, battery storage, pumped hydro and green hydrogen projects. These assets will help the UK build more renewable energy, more quickly, by providing the flexible capacity needed to balance the future grid whilst lowering carbon emissions and delivering best value for energy users. Statera has circa 1GW of assets in operation or under construction, plans to deliver 7.5GW of flexibility assets by 2030 and has a total pipeline of over 16GW.

More info: https://stateraenergy.co.uk/

Follow Statera on LinkedIn

About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital(1) for investors around the globe, in listed and private funds across both income and capital gain strategies.

(1) Data as at Q4 2022. Equity Capital is calculated using a 5-year average FX rate

AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

Stonepeak

 

SINGAPORE & NEW YORK – November 3, 2023 – AGP Sustainable Real Assets (“AGP”), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets.

As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP’s portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data.  The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP’s mission to build real assets that enable a sustainable and net zero emissions future.

Ben Salmon, AGP Partner, commented: “This strategic investment represents a pivotal milestone in AGP’s journey. We are thrilled to be working with such a high caliber partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society’s evolving needs.”

Hajir Naghdy, Senior Managing Director at Stonepeak added: “We look forward to partnering closely with AGP’s management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP’s global energy transition portfolio, logistics and community housing platform in India, and data center joint venture with Stonepeak’s existing portfolio company, Digital Edge, are directly aligned with Stonepeak’s key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak’s Asia infrastructure strategy.”

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, added: “In Stonepeak we have found a unique like-minded partner able to support our energy transition mission across our entire footprint. We are excited to take AMPYR’s decarbonisation contribution to new heights alongside Stonepeak.”

The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.

Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.

About AGP Sustainable Real Assets

Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital.  AGP’s mandate is to promote real assets that generate positive impact for people and the environment, by focusing on ‘Sustainable Real Assets’: transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacenter capacity, and 20msqft of community housing. For more information, please visit  www.agpgroup.com and www.ampyrenergy.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 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, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Contacts

AGP Sustainable Real Assets

CHIA Hui Kheng
Citigate Dewe Rogerson
huikheng.chia@citigatedewerogerson.com
+65 6589 2361

Stonepeak

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

 

Categories: News

Tags:

Apollo Infrastructure Funds Acquire Majority Stake in Modern Aviation

Apollo logo

Tiger Infrastructure Partners and Modern Aviation Management to Reinvest as Part of Transaction

NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO), Tiger Infrastructure Partners (“Tiger”) and Modern Aviation (the “Company” or “Modern”) today announced that they have entered into a definitive agreement for Apollo-managed infrastructure funds (the “Apollo Funds”) to acquire a majority stake in Modern Aviation, a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America. Tiger Infrastructure Partners, which currently owns Modern Aviation, and the Company’s management team will each reinvest alongside the Apollo Funds. Together, these investments will significantly bolster Modern Aviation’s shareholder base to support future strategic growth initiatives.

Founded in 2018, Modern Aviation has grown to become one of the preeminent national networks of premium FBO properties. The Company, led by CEO Mark Carmen and a highly experienced management team, operates a strategically curated portfolio of 16 sites today and serves a diversified customer base across various aviation segments.

Apollo Partner Dave Cohen said, “We are excited for Apollo funds to acquire Modern Aviation, working with Tiger, Mark and the entire team to support the business in its next phase of growth. Modern Aviation is known for its excellent client service and has built a strong infrastructure network with clear growth prospects across new and existing locations. We look forward to leveraging our deep experience investing in infrastructure and aviation assets to help the Company execute on its strategic plans.”

Modern Aviation CEO Mark Carmen said, “We are thrilled to be partnering with the Apollo team and we appreciate Tiger’s continued support as they have been with us since Modern was just an idea. Together, we are committed to executing Modern’s strategy of supporting our customers in a safe environment, investing in our 16 existing locations and growing our network. I’d like to thank all of our Modern Aviation team members, whose steadfast dedication to customer service and safety drive our success.”

Tiger Senior Managing Director Adam Emmert said: “We’ve been pleased to work collaboratively with the Modern management team for over six years. In the early years, the senior team co-located with us in our New York offices as we worked closely to launch the Modern platform. It has been rewarding for us to help Modern grow from a small team with a single location into one of the leaders in the U.S. FBO industry. We are excited to continue our productive collaboration with Mark, Dan, Emmanuel and the rest of the Modern team with our new partners at Apollo.”

The acquisition will be the latest investment for Apollo’s growing infrastructure franchise, which brings the scale, expertise and capital markets capabilities of Apollo’s investment platform to the middle market. The team focuses on mid-market businesses and assets, and key investment themes include the global energy transition, digital infrastructure, global supply chain and sustainable living. Across its platform, Apollo Funds and affiliated entities have deployed more than $12 billion into aviation industry investments.

The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close by year-end. Financial terms were not disclosed.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Winston & Strawn LLP and Lowenstein Sandler LLP acted as legal counsel and Harris Williams served as financial advisor to Tiger and Modern Aviation.

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 September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality, and industry leading safety. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.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

Tiger Infrastructure Partners Contacts
Nyssa Kourakos
NK Strategies
(917) 364-5531
nyssa@nkstrategies.com

Modern Aviation Contacts

Emmanuel Yapo
Executive Vice President
Modern Aviation
eyapo@modern-aviation.com


Primary Logo

Source: Apollo Global Management, Inc.

Categories: News

Tags:

KKR To Invest $400 Million In Leading Neutral Subsea Telecommunications Cable Services Provider OMS Group

KKR

Transaction builds on KKR’s strong momentum in Southeast Asia digital infrastructure

SINGAPORE–(BUSINESS WIRE)– KKR, a leading global investment firm, and the parent company of OMS Group (or the “Company”), a leading telecom infrastructure company and provider of subsea cable services, today announced the signing of definitive agreements under which KKR will commit $400 million in a tailored solution for OMS Group. This marks KKR’s latest digital infrastructure investment in Southeast Asia, underlining its conviction in the role digitalization plays in the region’s burgeoning internet economy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231029552367/en/

Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services, including installation and maintenance projects. The Company maintains a more-than-three-decades track record of providing mission-critical services to clients including major subsea equipment providers, large-scale cloud service providers, and telecom companies, and is internationally accredited for its quality management system.1 Today, OMS Group is one of the largest independent operators in this sector, with a diverse fleet including cable ships and cable barges, as well as cable landing stations serving the global telecommunications market.

KKR’s investment positions OMS Group well to accelerate its growth, including through expanding its fleet size and capabilities and investing in cable landing stations and subsea cable routes to serve global fast-growing cross-border data transmission trends and the demand for comprehensive subsea cable services.

Mr Projesh Banerjea, Director, Infrastructure at KKR, said, “OMS Group has established itself as a market leader with a longstanding track record of success and growth in Southeast Asia. As demand for greater connectivity across the region continues to grow, we are delighted to work closely with Datuk Lim, Mr Ronnie Lim, and the highly rated OMS Group team to meet this critical need. Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalization by governments, and a booming digital economy. We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”

Datuk Soon Foo Lim, OMS Group’s Chairman, said, “OMS Group and KKR share the same vision and appreciation of the critical data infrastructure OMS Group builds and maintain for its clients. We look forward to working with Mr David Luboff, Mr Projesh Banerjea and the world-class KKR team in advancing OMS Group’s growth plans.”

Commenting on KKR’s investment, Mr Ronnie Lim, Group CEO, OMS Group, said, “KKR’s investment in OMS Group underscores the value of OMS Group’s capabilities, which provides immense economic value to communities, corporations, and countries around the world by constructing and maintaining critical subsea data infrastructure. Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity.”

KKR is making this investment primarily from its Asia infrastructure strategy. This transaction adds to KKR’s track record of investing in digital infrastructure regionally and globally. Past KKR investments in Southeast Asia digital infrastructure have included the regional data center platform of Singtel, a leading Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines. Globally, KKR’s investments in digital infrastructure have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data center solutions, and Global Technical Realty, a build-to-suit and roll-up acquisition data center platform in Europe.

The transaction is expected to be completed by Q1 of 2024, subject to customary closing conditions. Additional details of the transaction are not disclosed.

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 Optic Marine Group

OMS Group is a global, neutral and integrated telecommunications infrastructure company with a wide range of services covering subsea telecommunications installation and maintenance, digital infrastructure ownership and digital Infrastructure engineering, procurement, maintenance and construction (EPC) under our Interconnect Managed Services division. Our capabilities in submarine fiber-optic cable systems, include installation and repair of deep and shallow water subsea fiber-optic cable systems, permitting in principle acquisitions, project management, direct shore ends, engineering and subsea surveys. We have a strong track record in constructing and owning cable landing stations and terrestrial dark fiber in Southeast Asia.

1 ISO 9001:2015 as certified by the Joint Accreditation System of Australia and New Zealand (JAS-ANZ)

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

Derek Lim
OMS Group
+603 5569 3881 ext 137
dlim@opticmarine.com

Source: KKR

Categories: News

Tags: