Partners Group exits Covage, a leading open-access fiber infrastructure platform in France

Partners Group

Partners Group, the global private markets investment manager, has completed the sale of its 50% equity stake in Covage (“the Company”), a leading open-access fiber infrastructure platform in France, on behalf of its clients. Covage was sold to SFR FTTH Network, a company owned by Altice, OMERS, Allianz Capital Partners and AXA Investment Managers-Real Assets on behalf of its clients. The transaction gave the Company an equity value of around EUR 1.1 billion.

The sale is a significant step towards the full divestment of Partners Group’s 2016 acquisition of Axia NetMedia Corporation on behalf of its clients, in a public-to-private transaction that resulted in its delisting from the Toronto stock exchange. It follows the divestment of the Canadian operations of Axia NetMedia, which were sold to BCE Inc (Bell Canada) in 2018.

Covage is an open-access fiber infrastructure platform with a national footprint across low-, medium-, and high-density population areas in France. The Company operates 45 local networks, complemented by a fully owned national fiber backbone of 9,000 km. Its connections are built and operated as concessions under the support of France’s rural broadband access program, a key social initiative to bridge the digital divide between rural and urban regions.

During the last four years under Partners Group’s joint ownership of Covage with Cube Infrastructure Managers, the Company successfully expanded its concession perimeter to 2.4 million homes and 27,500 businesses across France. Covage has also delivered internet access for the first time to over 1 million homes in rural areas of the country.

Esther Peiner, Managing Director, Private Infrastructure Europe, Partners Group, comments: “Covage is an excellent example of transformational investing in practice. Under Partners Group’s joint ownership, the company has rapidly expanded the number of homes and businesses in its network. This was achieved through significant capital investment, the winning of new concession awards and the successful execution of a platform expansion strategy. Additionally, Covage’s contribution to closing the urban-rural digital divide in France has created meaningful stakeholder impact in local communities.”

Categories: News

Tags:

EQT Infrastructure and Proximus form partnership to bring fiber to 1.5 million households in the Flemish Region of Belgium

eqt

  • EQT Infrastructure and Proximus sign joint venture agreement to build a fiber-to-the-home network for at least 1.5 million households and businesses in the Flemish Region of Belgium
  • EQT Infrastructure and Proximus are committed to invest significantly into the increased digitalization of the Belgian society
  • The JV will benefit from EQT Infrastructure’s vast fiber roll-out experience and Proximus’ unrivalled expertise in the Belgian telecom market, and together the parties aim at realizing a substantial increase of the fiber coverage in Flanders

The EQT Infrastructure V fund (“EQT Infrastructure”) and Proximus, Belgium’s largest telecom operator, are pleased to announce the signing of a partnership agreement. As part of this agreement, the two parties will form a new joint venture (JV) that will design, build and maintain a fiber-to-the-home (FTTH) network in Flanders. EQT Infrastructure will initially own 50.1 percent of the JV and Proximus will hold 49.9 percent.

EQT Infrastructure and Proximus have identified large opportunities in accelerating the build-out pace of the FTTH network in the Flemish Region of Belgium. FTTH is the fastest and most reliable broadband solution available and is instrumental in managing the increasingly growing internet bandwidth demands of the future. EQT and Proximus are committed to invest significantly into the JV over the coming years with the ambition to bring the required fiber connectivity to Flanders so that its residents and businesses can actively participate in the Gigabit Society.

The JV will benefit from the combination of EQT Infrastructure’s vast experience from developing strong fiber companies in Europe and North America, and Proximus’ unrivalled expertise in the Belgian telecom market and long-standing relationships with municipalities and housing associations. Together, the parties will create an efficient rollout machine to build a fiber network, which will be open and accessible to all operators. The JV intends to connect its first customers during 2021 and the overall goal is to bring fiber connectivity to at least 1.5 million households and businesses over the coming years. The JV will be supported by a strong board of directors with hands-on experience from fiber deployment in Belgium and other European markets.

Matthias Fackler, Partner at EQT Partners, said: “We are very happy to have found a strong partner in Proximus for this exciting fiber rollout opportunity in Belgium. As the leading investor in digital infrastructure, EQT sees the growing need for future-proof and reliable broadband access all over the European continent. Through this partnership, we look forward to facilitating digital inclusion and sustainable economic growth in Flanders and the Belgian society as a whole.”

Guillaume Boutin, CEO of Proximus, said: “I am very pleased that we have signed this final agreement with EQT Infrastructure. This will enable us to reinforce our leading position in multi-gigabit infrastructures, in an era where reliable, next-generation fixed and mobile connectivity has become more important than ever. It also illustrates our positive attitude towards cooperation and co-investment, which will be an important trigger to guarantee a faster, broader and more cost-efficient roll-out. I’d like to congratulate the teams involved on both sides, as this agreement marks another major step forward to build the most future-proof and open network for Belgium and bring high-speed connectivity solutions to every citizen”.

The closing of the transaction is expected in Q1 2021, subject to customary regulatory approvals.

With this transaction, EQT Infrastructure V is expected to be 15-20 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, and subject to customary regulatory approvals.

Contact
Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, +49 89 25 54 99 0
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About Proximus
Proximus Group (Euronext Brussels: PROX) is a provider of digital services and communication solutions operating in the Belgian and international markets. Delivering communication and entertainment experiences for residential consumers and enabling digital transformation for enterprises, we open up a world of digital opportunities so people live better and work smarter. Thanks to advanced interconnected fixed and mobile networks, Proximus provides access anywhere and anytime to digital services and data, as well as to a broad offering of multimedia content. Proximus is a pioneer in ICT innovation, with integrated solutions based on IoT, Data analytics, cloud and security.

With 12,931 employees, all engaged to offer customers a superior experience, the Group realized an underlying Group revenue of EUR 5,686 million end-2019.

More info: www.proximus.com and www.proximus.be

Categories: News

Tags:

DIF Capital Partners signed agreement to acquire 33.3% interest in Toledo Hospital PPP project

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI (“DIF VI”) has signed a share purchase agreement with Spanish infrastructure company OHL to acquire 33.3% of the share capital of Nuevo Hospital de Toledo S.A. (“Toledo Hospital” or “the Project”) and an indirect 33.3% stake in the company that operates the Project.

The Project consists of the construction, maintenance, financing and operation of the non-clinical services of the Toledo Hospital. The Project benefits from an availability based payment scheme granted by Castilla-La Mancha Health Service (SESCAM) under a concession that will run until 2045. The construction of Toledo Hospital started in 2016: it was officially inaugurated in November 2020 and is expected to be fully operational during 2021. The Project was built by a joint venture between OHL, Acciona and ACS.

Toledo Hospital is considered to be one of the largest hospital complexes in Europe. It will serve more than 434,000 inhabitants living in 116 municipalities in the province of Toledo. The Project comprises seven buildings with a total floor area of more than 245,000 m2, which are organized around a central street that functions as a public space and connects the various hospital services. It houses 1,142 beds, of which 760 are for hospitalization and 382 for other uses, 368 consultation rooms, 97 examination rooms, 120 outpatient posts, 42 emergency observation posts and 65 treatment posts, and examination bays.

Fernando Moreno, DIF’s head in Spain: “DIF has an excellent and long lasting relationship with OHL. We are very glad that we have been able to further develop our relationship through this high profile transaction. We are honoured to and believe that we are well placed to operate this landmark infrastructure project together with the grantor and our project partners. The Project perfectly fits in our portfolio and should provide a stable and strong yield for our investors”.

Closing of the transaction is expected to take place in the first half of 2021.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 150 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

Categories: News

Tags:

Norva24 acquires platform in Southern Germany

Valedo

Norva24 has acquired Kanal-Türpe, a leading provider of Underground Infrastructure Maintenance (“UIM”) services in Southern Germany with operations in Gerolzhofen, Fulda and Blomberg. The acquisition significantly strengthens Norva24’s leading position in the highly fragmented UIM market in Northern Europe.

Kanal-Türpe has more than 50 years of experience in the industry, revenues of approximately EUR 20 million and a comprehensive service offering within UIM services. The company is headquartered in the central parts of Southern Germany and operates around 100 vehicles. In addition to the acquisition of Kanal-Türpe, Norva24 has also recently completed one acquisition in Stockholm and two smaller acquisitions in Germany, with operations in Lübeck and Lüneburg.

“We are very excited to welcome Kanal-Türpe to Norva24. Following our market entry into Germany in 2019 through the acquisition of Ex-Rohr, we now further strengthen our position as the emerging market leader in Germany. Furthermore, the acquisition implies that Norva24 now has revenues of close to NOK 2 billion, which is an important milestone in our vision to become the clear market leader within UIM services in Europe”, says Henrik Damgaard, CEO of Norva24.

The terms of the deal will not be disclosed.

For more information about Norva24, please contact:

Henrik Damgaard, CEO
henrik.damgaard@norva24.no

About Norva24:
Norva24 is the undisputed category leader in the highly fragmented UIM services market in Northern Europe, with leading position in Norway, Denmark, Sweden and Germany. Service offering includes mission-critical and non-discretionary maintenance services for underground infrastructure (“UIM”), such as pressure washing, emptying service, pipe inspection and relining. Norva24’s vision is to become a lighthouse in the development of the UIM industry in Europe through green initiatives, ESG reporting and IoT solutions. Norva24 has revenues of close to NOK 2 billion and employs around 1 200 employees.

www.norva24.com

About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.

www.valedopartners.com

Categories: News

Tags:

Ardian acquires Finland based utility Nevel, a leading district heating and industrial energy solutions company

Ardian

02 November 2020 Infrastructure Finland

• Vapo and Ardian reached an agreement for the acquisition of 100% of Nevel, a leading Nordic District Heating and Industrial Energy Solution Company
• Nevel complements Ardian’s global portfolio of diversified and essential infrastructure investments in energy, transportation and telecommunication
• Ardian will support Nevel’s energy transition towards CO2 free energy production in its networks by 2023, while providing customers with future-proof and cost-efficient heating in Finland, Sweden and Estonia.

Paris, November 2nd, 2020 – Ardian, a world-leading private investment house, announces the acquisition of 100% of the shares of Nevel Oy (“Nevel”), a leading district heating and industrial energy solutions company, from Vapo Group (“Vapo”). Nevel complements Ardian’s global portfolio in terms of geographic and sector diversification. Nevel represents Ardian Infrastructure’s fifth investment in the region bringing the Nordic asset base to a size of 1.8GW of installed heat and power capacity. The asset management of Nevel will be supported by Ardian’s local sustainable energy investment platform, eNordic.

Nevel owns and operates more than 150 heat and power plants and over 40 district heating networks across Finland, Sweden and Estonia together with one of the most sophisticated digital operating platforms on the market. Nevel is generating 1.6 TWh of energy annually and committed to the energy transition and further fossil fuel reduction. “We intend to grow the company by investing significant additional capital, thereby targeting to enhance the environmental friendliness and efficiency of Nevel’s heating plants and district heating networks. We are proud to be working with Nevel’s management team and supporting them in our future partnership”, says Eero Auranne, CEO of eNordic.

Through the investment, Ardian sees significant opportunity to develop and expand Nevel’s operations in Finland, Sweden and Estonia. “Nevel is a perfect fit with our strategy for sustainable energy and our asset portfolio in the Nordics. Nevel’s and our goals are aligned and we will aim to make it the go-to platform for municipalities and industrial companies seeking to outsource energy services through sustainable solutions”, explains Simo Santavirta, Senior Managing Director and Head of Asset Management of Ardian Infrastructure.

”Our investment in Nevel forms a significant milestone of Ardian’s overall strategy to significantly reduce CO2 emissions worldwide. Digital and artificial intelligence will play a key role in the energy transition of the asset”, says Amir Sharifi, Energy Transition lead for Ardian Infrastructure. Earlier this year, Ardian made its first investment in Finland – the acquisition of the Lakiakangas 1 wind farm. Ardian’s sustainable energy asset base in the Nordics is now at nearly 500 MW wind and 1350 MW heat capacity, operating across Finland, Norway, Sweden and Estonia.

“The Nordics are a core region for Ardian Infrastructure with attractive fundamentals and significant potential to invest in essential infrastructure in energy, transportation and telecommunication. We are proud to add Nevel to our portfolio in the region and are looking forward to supporting the company’s strategy”, according to Daniel von der Schulenburg, Ardian Infrastructure Head of Northern Europe, Germany and Benelux.

This transaction is yet to receive clearance from the local competition authorities. Ardian does not own any competing or overlapping businesses with Nevel in Finland or in the Nordic and Baltic countries.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

 

ABOUT ENORDIC

eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives.
Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.
eNordic focuses in opportunities in wind, biomass, hydro and district heating in addition to traditional energy assets that have the potential to be transformed or managed in a sustainable way.
eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.

Press contact

ARDIAN / ENORDIC – HEADLAND CONSULTANCY

CARL LEIJONHUFVUD

cleijonhufvud@headlandconsultancy.com +44(0)20 3805 4827

Categories: News

Tags:

Norva24 acquires platform in Southern Germany

Valedo

Norva24 has acquired Kanal-Türpe, a leading provider of Underground Infrastructure Maintenance (“UIM”) services in Southern Germany with operations in Gerolzhofen, Fulda and Blomberg. The acquisition significantly strengthens Norva24’s leading position in the highly fragmented UIM market in Northern Europe.

Kanal-Türpe has more than 50 years of experience in the industry, revenues of approximately EUR 20 million and a comprehensive service offering within UIM services. The company is headquartered in the central parts of Southern Germany and operates around 100 vehicles. In addition to the acquisition of Kanal-Türpe, Norva24 has also recently completed one acquisition in Stockholm and two smaller acquisitions in Germany, with operations in Lübeck and Lüneburg.

“We are very excited to welcome Kanal-Türpe to Norva24. Following our market entry into Germany in 2019 through the acquisition of Ex-Rohr, we now further strengthen our position as the emerging market leader in Germany. Furthermore, the acquisition implies that Norva24 now has revenues of close to NOK 2 billion, which is an important milestone in our vision to become the clear market leader within UIM services in Europe”, says Henrik Damgaard, CEO of Norva24.

The terms of the deal will not be disclosed.

For more information about Norva24, please contact:

Henrik Damgaard, CEO
henrik.damgaard@norva24.no

About Norva24:
Norva24 is the undisputed category leader in the highly fragmented UIM services market in Northern Europe, with leading position in Norway, Denmark, Sweden and Germany. Service offering includes mission-critical and non-discretionary maintenance services for underground infrastructure (“UIM”), such as pressure washing, emptying service, pipe inspection and relining. Norva24’s vision is to become a lighthouse in the development of the UIM industry in Europe through green initiatives, ESG reporting and IoT solutions. Norva24 has revenues of close to NOK 2 billion and employs around 1 200 employees.

www.norva24.com

About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.

www.valedopartners.com

Print news article

Categories: News

Tags:

CapMan Infra assets under management increase to MEUR 400

CapMan Infra press release
29 October 2020 at 8:45 a.m. EET

CapMan Infra assets under management increase to MEUR 400

CapMan Infra has broadened and internationalised its investor base through a syndicated transaction in one of its portfolio companies and additional commitments closed in CapMan Nordic Infrastructure I (the “Fund”). Total assets under management for CapMan Infra have increased to approx. MEUR 400 and the investor base has become distinctly global with nearly half of the capital coming outside of the Nordic countries from Europe, North America and Asia.

CapMan Infra successfully attracted approx. MEUR 50 of new co-investment capital from three international institutional investors for this syndication of its investment in Norled, an operator of ferries and express boats in Norway. The investment, the Fund’s first seed asset, closed in July 2019, when CapMan acquired a 50 per cent stake in Norled in a consortium with CBRE Caledon. CapMan Infra continues to manage the asset on behalf of the co-investors and the Fund.

“We are delighted to welcome international blue-chip institutional investors as co-investors in Norled, where we are driving the green shift of the Norwegian ferry sector. Sustainability is a key theme throughout our investment process from due diligence and investment selection to active value creation, and we seek to set objectives and measure our achievements. As an example, Norled plans to decrease its CO2 emissions by 75 per cent by 2029 through the introduction of reduced emission vessels,” says Ville Poukka, Managing Partner of CapMan Infra.

The Fund reached a final close at approx. MEUR 190, securing commitments from a diverse group of LPs including SWEN Capital Partners, Ilmarinen Mutual Pension Insurance Company, The Church Pension Fund and Tradeka Invest Ltd amongst others. The Fund invests in mid-sized core and core+ infrastructure assets in the energy, transportation and telecom sectors across the Nordics.

To date, some 70 per cent of the Fund capital raised has been committed to four investments. In addition to Norled, the Fund has invested in Nydalen Energi, a provider of environmentally friendly district heating and cooling in Oslo, Loviisan Lämpö, a provider of environmentally friendly district heating in Southern Finland, and Valokuitunen, a fibre-to-the-home platform in Finland. The CapMan Infra team also manages two investment mandates – an onshore windfarm in Sweden and an investment stake in an electricity distribution company in Finland – on behalf of institutional investors.

“Since the establishment of CapMan Infra three years ago we have built a strong local Nordic team, raised two investment mandates, closed our first Nordic mid-cap infrastructure fund and invested in six attractive transactions that have performed in line with original expectations despite the challenging current environment. We are pleased that our investment strategy generated significant interest both locally and internationally resulting in a supportive and global investor base, and that we have demonstrated flexibility in finding suitable investment solutions to serve the needs of different types of investors and investment horizons. We thank our investors for their trust,” continues Poukka.

“We are very pleased with what we have achieved so far in the Nordic mid-cap infrastructure space and believe we have built strong foundation for future growth,” says Joakim Frimodig, CEO of CapMan Plc.

CapMan Infra was established in 2017 and has a team of nine professionals based in Helsinki and Stockholm.

For additional information, please contact:
Ville Poukka, Managing Partner, CapMan Infra, p. +358 50 572 9120

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3.5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. For additional information about CapMan Infra, visit www.capman.com/infra

Categories: News

Tags:

KKR Launches Renewable Energy Platform Virescent Infrastructure in India

KKR

October 29, 2020

New platform to own and operate a diversified portfolio of renewable assets in India

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Virescent Infrastructure (“Virescent” or the “Company”), a newly created platform to acquire renewable energy assets in India.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029006392/en/

Headquartered in Mumbai, Virescent aims to expand its diversified portfolio of operational renewable energy assets, facilitated by investments predominantly made through KKR’s infrastructure fund. Virescent looks to identify investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

Virescent currently owns 317MWp of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, these projects will also become part of the Virescent platform.

Virescent’s launch comes as renewables are expected to become an increasingly important energy source for citizens across India. Renewable energy is estimated to comprise approximately 60% of India’s installed power capacity by 2030, from around 24% at present, according to India’s Ministry of Power and New & Renewable Energy.

Hardik Shah, a Managing Director on KKR’s Infrastructure team, said, “The launch of Virescent is a meaningful milestone for KKR’s Asia Pacific infrastructure strategy amid India’s ambitions to install 175GW of renewable energy capacity by 2022 and 450GW by 2030. We look forward to playing a part in meeting these goals and supporting the Government’s Green Energy Corridor initiative through our investment in Virescent.”

Virescent is led by CEO Sanjay Grewal, who brings to the Company more than 30 years of experience in the Indian and global infrastructure sector. He will be responsible for identifying, planning, and executing investment opportunities for Virescent.

Mr. Grewal said, “Positive government initiatives have created a number of long-term investment opportunities in India’s rapidly transforming renewable energy sector. We are thrilled that Virescent will seek to invest in many of these great opportunities, in addition to achieving stable returns by acquiring high-quality, low-risk, and income-yielding assets with stable and long-term cashflows. I am truly excited to be part of this dynamic industry and for the chance to enhance KKR’s infrastructure strategy by building Virescent’s renewables portfolio.”

KKR takes a flexible approach to infrastructure investment in Asia Pacific, and combines the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value to companies. Today, KKR’s global infrastructure portfolio spans sectors such as energy, transportation, telecom, oil and gas, and water. Renewable energy represents a key vertical within KKR’s infrastructure strategy, having invested in renewable energy businesses with more than 10,000 MW of total operational capacity.

Virescent additionally deepens KKR’s presence in the Indian market. KKR has been investing in India since 2006, and has since honed its strategy to combine KKR’s global network with the local team’s market knowledge and investment expertise. Today, KKR aims to be a patient capital provider able to help bring flexible financial solutions to meet the needs of India’s private and public sectors. The Firm is extensively engaged in the operations and strategies of its portfolio companies across asset classes, including infrastructure, private equity and credit, to corporations and real estate businesses. KKR’s recently announced investments across asset classes includes, but is not limited to, Reliance Jio, Reliance Retail, IndiGrid, JB Chemicals, Max Healthcare and Ramky Envirotech.

About Virescent Infrastructure

Virescent Infrastructure (Virescent) is a renewable energy company in India. Headquartered in Mumbai, Virescent will expand its diversified portfolio of operational renewable energy assets by identifying investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:

Prose Integrated (For Virescent Infrastructure)
Shirley C Dsilva
+91 9870060007
shirley@proseintegrated.com
media@virescent.co.in

For KKR:
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Source: KKR & Co. Inc.

Categories: News

Tags:

DIF Infrastructure VI reaches final close at €3.03 billion

DIF

DIF Capital Partners (“DIF”) is pleased to announce the final close of DIF Infrastructure VI (“DIF VI) at €3.03 billion, exceeding its €2.5 billion target.

DIF VI targets equity investments in projects and companies with pre-dominantly long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects, that generate stable and predictable cash flows as well as attractive risk-adjusted returns. The fund targets both greenfield and operational investments in Europe, the Americas and Australasia.

DIF VI has seen strong backing from existing and new investors to the DIF platform, receiving commitments from leading institutional investors across the globe.

Allard Ruijs, Partner at DIF Capital Partners said: “We are proud of this achievement, especially in the challenging times in which we live, which is a testimony to the strength of the DIF platform and the attractiveness of the DIF VI proposition. Over the past 15 years the team has been able to generate attractive returns for our investors by consistently investing in high quality projects, enhancing project value during our ownership through active shareholder engagement, as well as by achieving successful realisations. We are confident that DIF VI will be a successful continuation of this strategy, leveraging DIF’s unique global office network and dedicated local teams to source and manage attractive investment opportunities and build robust and diversified portfolios. We are thankful for the strong support received from investors for the DIF VI partnership.”

DIF VI has made a strong start, having committed to three investments to date thereby deploying ca. 20% of the fund. This includes investments in (i) BluEarth, a Canadian renewable energy platform, (ii) Cascade, a 900 MW long-term contracted Canadian power project, and (iii) stakes in Norte Litoral and Via do Infante, two Portuguese availability-based PPP roads. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies, including both greenfield and operational projects.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €8.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 150 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

Categories: News

Tags:

Partners Group to acquire significant equity stake in Telepass, a European leader in electronic toll collection

Partners Group

Baar-Zug, Switzerland; 17 October 2020

Partners Group to acquire significant equity stake in Telepass, a European leader in electronic toll collection

Partners Group, the global private markets investment manager, has, on behalf of its clients, agreed to acquire a significant equity stake in Telepass S.p.A (“Telepass” or “the Company”), a leading electronic toll collection (“ETC”) services provider in Europe. Following the acquisition, Partners Group will become joint owner of Telepass with its current investor Atlantia, a global leader in the transport sector. The transaction values Telepass at an enterprise value of over EUR 2 billion.

Telepass is a leading European provider of electronic tolling services to approximately 7 million clients, with a strong asset base of more than 12 million active payment devices. The infrastructure services business processes around EUR 7 billion in annual transactions across 14 European countries, servicing over 105,000 kilometers of motorway network. Telepass complements its core ETC services with other transport-related services, such as digital mobility payments, for example for fuel, parking, taxis, car and bike sharing services, as well as personal mobility insurance services. Telepass’ core ETC business has long-term stable cash flows underpinned by high retention rates, with an average customer life of around eight years, and a fixed subscription fee model with low correlation to GDP fluctuations. This, combined with the growth potential of its mobility payment and insurance services, offers a unique opportunity for Partners Group to implement an operational value creation strategy in a resilient sector.

Following the transaction, Partners Group and Atlantia will work closely with Telepass management on a number of strategic value creation initiatives to accelerate the business’ existing growth trajectory, build scale across Europe and establish a leading pan-European platform for customer-centric mobility services. Key areas of focus will be further penetration and consolidation of the European ETC market through organic and acquisitive growth; strengthening the “one-stop mobility payment” solution for B2C and B2B customers; scaling mobility insurance coverage across Europe; and working alongside Atlantia and key municipalities to foster Environmental, Social and Governance (ESG) initiatives to optimize urban transport, reducing congestion and CO2 emissions.

Gabriele Benedetto, Chief Executive Officer, Telepass, states: “We welcome Partners Group to the Telepass team. The firm’s excellent operational capabilities and history of supporting companies to grow their geographical footprint, expand service areas, and advance technologically will help us to build on our strong presence throughout Europe and drive our inorganic growth strategy. This acquisition is happening at a key point in Telepass’ growth and we look forward to benefiting from the size and strength of Partners Group’s platform, as well as the team’s responsible ownership approach.”

Livio Fenati, Senior Member of Management, Private Infrastructure Europe, Partners Group, says: “This is a compelling opportunity to support an outstanding, non-cyclical asset with a strong brand in the attractive, high-growth transport sector identified by our Thematic Sourcing approach. The Company is uniquely positioned to benefit from the growing electronic payment sector as the global transition to non-cash payments continues, as well as the significant opportunities to expand the asset base via inorganic and acquisitive growth in its core ETC business. Partners Group’s global platform and strong asset management capabilities make Telepass an excellent fit for our transformational investing strategy.”

Shreya Malik, Member of Management, Private Infrastructure Europe, Partners Group, adds: “We are looking forward to working actively with Atlantia and Telepass’ management team to expand into adjacent ETC markets, develop a more diversified customer base, and accelerate the growth of its already high-quality and resilient platform. In addition, Partners Group will work closely with Atlantia on key ESG focus areas for the asset, bringing the expertise we have gained from implementing sustainable measures across our global portfolio, and the emphasis we place on stakeholder prosperity, to this investment. We are excited to bring Partners Group’s experience in the sector to actively support Telepass’ next phase of growth.”

Categories: News

Tags: