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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

 

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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 LinkedIn, X, YouTube and Instagram

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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

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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

 

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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


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Source: Apollo Global Management, Inc.

Released November 2, 2023

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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

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Stonepeak Completes Sale of 1.3 Million Square Foot Omni Industrial Campus in Charleston, South Carolina

Stonepeak

NEW YORK, NY – October 24, 2023 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed the sale of Omni Industrial Campus, a three-building, 1.3 million square foot logistics portfolio in Charleston, South Carolina. Financial terms of the transaction were not disclosed.

Omni Industrial Campus is strategically located along Interstate 26 between Interstate 95 and the Port of Charleston, which is expected to double in capacity by 2033 as a result of continued share-shift from West Coast ports to East Coast ports, population growth, and growth of manufacturing in the greater Charleston area. The Port’s expansion is driving additional demand for warehouse space from customers entering and expanding in the Charleston market, making Omni Industrial Campus a prime location for customers given its proximity to strategic transportation infrastructure.

“This transaction demonstrates Stonepeak’s ability to identify and execute investments at the intersection of real estate and infrastructure,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “We leveraged insights from our leading infrastructure platform to build conviction around this submarket, which has seen strong logistics growth as a direct result of the expanding Port of Charleston.”

Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team draws on its deep experience from prior leadership positions within leading investment firms to invest behind high conviction sectors including supply chain, residential, healthcare, and technology real estate. Drawing upon the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.

Latham & Watkins LLP served as legal counsel and JLL Capital Markets served as financial advisor to Stonepeak.

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

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

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Ardian and aDryada announce the launch of Averrhoa Nature-Based Solutions, a strategy dedicated to large-scale nature-based projects

Ardian

The strategy aims to finance projects to restore forests, wetlands and mangroves in order to sequester large quantities of carbon from the atmosphere through natural carbon sinks.
• The projects are expected to sequester around 150 million tonnes of carbon.
• The sequestered carbon will be used to generate high-quality carbon credits verified by third-party experts.
• The strategy addresses three challenges: carbon sequestration through nature-based solutions, biodiversity enhancement, and social-economic benefits for local populations.

Ardian, a world-leading private investment house, and aDryada, a French operator for forest restoration and biodiversity, announce the launch of Averrhoa Nature-Based Solutions. This strategy, entirely dedicated to large-scale nature-based projects, aims to generate a significant impact in favor of the climate, biodiversity and in respect to local communities. It will deploy around 1.5 billion euros worth of projects and capital worldwide, mainly in emerging markets and developing economies, as well as local populations.

Ardian and aDryada join forces to build and develop a portfolio of projects by combining their expertise. Together, aDryada and Ardian already benefit from significant experience in investing in energy transition and reforestation projects. They will be able to identify quality projects and support their long-term development with states and local communities.

Since the ratification of the Paris Agreements, governments and companies have adopted ambitious long-term carbon emission reduction targets. Record investments are being made to mitigate future emissions through electrification, low-carbon energy production and efficiency improvements. However, the scale of the challenge demands that carbon sequestration also plays a role both in addressing existing emissions into the atmosphere and in offsetting hard-to-remove future emissions. According to the Intergovernmental Panel on Climate Change (IPCC), in scenarios that limit warming to 1.5°C, sequestered emissions must be rapidly scaled up in the short term, enabling the elimination of 0.5 to 1.2 Gt of CO2 per year by 2025, and then 6 to 10 Gt of CO2 per year worldwide.

The voluntary carbon credit market is set to grow strongly over the next few decades, because of the global consensus on the need to rapidly increase the planet’s sequestration capacity and the growing ambitions of economic players in this area. The market for carbon credits is set to grow by a factor of c. 35 between now and 2050. Global demand for voluntary carbon credits has already almost quadrupled over the past five years, rising from 43 mt CO2e in 2017 to 155 mt CO2e in 2022. From this perspective, nature-based solutions, and especially those linked to carbon sequestration in ecosystems and forests, are an essential response to corporate climate and biodiversity objectives, while bringing sustainable economic and social benefits to local communities.

The Averrhoa Nature-Based Solutions’ strategy meets the criteria of an impact fund with the aim of reducing global GHG emissions, in accordance with article 9 of the European SFDR regulation.  The Averrhoa Nature-Based Solutions fund will be managed by Ardian France, with aDryada acting as advisor.

“Ardian aims to be a world leading investor in nature restoration projects. In line with the Paris Agreement’s objective to limit temperature rises to 1.5°C by 2050, our projects will make an important contribution to capturing around 5Gt per year of unavoidable carbon emissions by that date. With this strategic partnership with aDryada, Ardian brings a rigorous solution that respects local communities to the carbon neutrality and biodiversity preservation objectives of its customers, portfolio companies and industrial partners.” Mathias Burghardt, Member of the Executive Committee and Head of Infrastructure, Ardian

“Ardian continues its pioneering commitment to the energy transition with Averrhoa Nature-Based Solutions, which benefits from the experience of Ardian’s infrastructure team in investing in climate action and the energy transition, and that of aDryada in developing projects related to biodiversity and the energy transition. Averrhoa Nature-Based Solutions aims to invest in long-term forest, mangrove and wetland restoration projects, enabling the sequestration of around 150 million tonnes of carbon and substantial net gains in terms of biodiversity and socio-economic benefits for local populations.” Laurent Fayollas, Deputy Head Infrastructure, Ardian

“Averrhoa Nature-Based Solutions aims to create long-term environmental and social value. aDryada’s track record will enable us to build a portfolio of solid, high-quality projects. We are proud to partner with Ardian in the launch of this strategy which, through its ambition – of the order of 1.5 billion euros invested in quality sequestration projects, particularly in emerging countries – will help accelerate action to combat climate change and restore biodiversity.”  Fabio Ferrari, CEO, aDryada

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,470 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 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT ADRYADA

Created in 2021 to restore forest and biodiversity, aDryada develops, operates and finances large-scale (> 50 000 ha) nature-based projects (reforestation, land restoration, mangroves, wetlands…) all over the world with a major ambition: having a tangible impact on biodiversity, climate and people’s living conditions, because the three go together.
To reach this goal the company has developed an innovative and efficient business model based on high-end sequestration carbon credits. It unlocks large-scale investments and generates long-term financial flows for stakeholders and partners aDryada works with (governments, leading global financial institutions, corporations, public and non-profit organizations, local private actors, communities).
aDryada’s team is made up of experienced specialists in global forests, new agricultural methods, social practices, finance and public affairs.

adryada.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Ontario Teachers’ acquires KKR’S stake in Environmental Platform Greencollar

KKR

SYDNEY & TORONTO–(BUSINESS WIRE)– Ontario Teachers’ Pension Plan (Ontario Teachers’) and KKR, a leading global investment firm today announced the signing of a definitive agreement under which Ontario Teachers’ will acquire KKR and other shareholders’ stakes in GreenCollar, a leading Australian environmental markets platform. Financial terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230917665584/en/

Ontario Teachers’ first became an investor in GreenCollar in March 2022. With this latest investment, Ontario Teachers’ deepens its relationship with GreenCollar, taking on a significant majority stake in the Company, with GreenCollar CEO and Co-founder James Schultz continuing to lead the business and remaining a significant shareholder.

Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, has significant experience investing in agriculture, aquaculture, timberland, and natural climate solutions, including in Australia where it has a large agriculture portfolio.

Christopher Metrakos, Senior Managing Director, Natural Resources at Ontario Teachers’, said: “We are pleased to increase our investment in GreenCollar and to continue supporting James and his team in their mission to restore and enhance natural capital in areas like biodiversity and water quality. GreenCollar is a proven leader in delivering positive environmental outcomes with market-based solutions and we are excited to continue supporting the company in its next chapter of growth in Australia and beyond. We’d like to thank the team at KKR for their support and partnership on this investment.”

James Schultz, CEO and Co-Founder of GreenCollar, added, “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector. We also want to extend our sincere gratitude to KKR for their support and commitment over past few years.”

KKR first invested in GreenCollar in 2020 as part of its Global Impact strategy, which focuses on companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). As a certified B corporation and provider of environmental initiatives that reduce the impact of climate change, GreenCollar’s core business directly contributes toward SDG 13 (Climate Action) and supports other sustainable goals, including SDG 15 (Life on Land) and SDG 14 (Life Below Water).

GreenCollar is the first Global Impact Fund investment to implement a broad-scale employee ownership plan. Once the transaction has completed, all employees at GreenCollar will share in the proceeds from the sale under a program that aims to build stronger companies and drive greater financial inclusion through employee ownership and engagement.

George Aitken, Managing Director and Head of KKR Global Impact, Asia Pacific, said, “GreenCollar is a great example of a solutions-oriented business that KKR looks to support through our Global Impact strategy, addressing some of the world’s biggest challenges such as climate change. Together with James, Ontario Teachers’ and the whole team at GreenCollar, we have made great strides in advancing GreenCollar’s important mission. It’s been a fantastic journey. We strongly believe that an ownership mentality among employees can build a stronger culture, create a more engaging experience, and ultimately drive stronger business performance – and the results speak for themselves here. Going forward, we are confident that Ontario Teachers’ and the team will continue building on that success.”

GreenCollar is the latest example of KKR’s focus on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. Since 2011, KKR-backed companies have awarded billions of total value through broad-based equity programs to over 60,000 non-senior employees across more than 35 companies. In all cases, the employee ownership programs are an incremental benefit and not in exchange for benefits, wages or wage increases.

The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals.

KKR was advised by Gilbert & Tobin and UBS. Ontario Teachers’ was advised by Baker & Mackenzie and EY.

About GreenCollar

GreenCollar is a profit-for-purpose organisation, and the leading environmental markets project developer and investor across the climate, water quality, biodiversity and plastics markets in Australia. Founded in 2011, GreenCollar works with landowners and managers throughout Australia to develop projects that create commercial opportunities by generating environmental credits, while caring for the environment. GreenCollar’s management team are widely recognised as thought leaders in the environmental markets industry.

About Ontario Teachers’ Pension Plan

Ontario Teachers’ is a global investor with net assets of C$249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our more than 400 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.

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.

Media:

GreenCollar
Nerida Bradley
+61 414 966 129
nerida.bradley@greencollar.com.au

Ontario Teachers’
Dan Madge
+1 416 419-1437
media@otpp.com

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

Citadel-MAGNUS (for KKR Australia)
James Strong
+61 (0)448 881 174
jstrong@citadelmagnus.com

Source: KKR

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KKR Invests in Zenobē to Accelerate Global Transport Decarbonisation and Provide Essential Grid Services

KKR
  • KKR to invest approximately $750m to scale Zenobē across two of the largest decarbonisation market opportunities in infrastructure – fleet electrification and battery storage solutions
  • KKR and current majority shareholder, Infracapital, to become joint majority shareholders in a strategic partnership; Infracapital to reinvest into the business
  • Investment is the first through KKR’s global climate strategy, dedicated to scaling net-zero solutions and transitioning higher emitting assets

LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced it is investing approximately $750m to scale Zenobē, a market leader in transport electrification and battery storage solutions, to accelerate the global decarbonisation of diesel fleets and provide grid services that are critical for the decarbonisation of the energy sector.

Infracapital, the infrastructure equity investment arm of M&G Plc and current majority shareholder, will invest further alongside KKR and the management team, with KKR and Infracapital becoming joint majority shareholders. The transaction is subject to customary closing conditions and regulatory approvals.

KKR’s investment in Zenobē is the first to be made through the firm’s global climate strategy, which is part of KKR’s $54 billion global Infrastructure business and dedicated to investing in solutions at scale to support the transition to a low-carbon economy.

Founded in 2017 and headquartered in London, Zenobē is a global player in electrification solutions for fleets and battery storage solutions for grid network infrastructure, with leading positions in the UK, Australia and New Zealand, and a growing presence in continental Europe. Today, Zenobē is one of the leading fleet electrification platforms in the world, helping bus and increasingly HGV operating companies to decarbonise their fleets and meet emission-reduction objectives.

Zenobē’s EV fleet business provides end-to-end solutions to transition conventional internal combustion engine vehicles to electric, including financing of chassis, batteries on the vehicles, and charging infrastructure in depots, complemented with an integrated software solution. Through its network infrastructure business, Zenobē develops and builds large scale batteries that connect to transmission grids, providing essential grid services to complement the growth of intermittent low carbon energy generation and allowing economies to achieve their net zero ambitions, without compromising the grid stability.

Decarbonising transportation, reducing pollution in big cities and towns and meeting national net-zero targets will require substantial investment and a rapid shift to electric vehicles. The transport sector is the largest source of carbon emissions globally, resulting in tightening regulations related to emissions by public transport.

KKR plans to work with Zenobē to meet the growing demand for EV adoption from bus operators and other commercial fleet businesses globally. KKR also expects to help Zenobē expand its grid-scale battery storage capacity through the construction and expansion of new and existing sites. The investment will help Zenobē to build on its leadership positions in the UK, Australia and New Zealand, while continuing to grow across continental Europe, and also expand into North America.

Alberto Signori, Partner in KKR’s European Infrastructure team, said: “This is a rare opportunity to support a clear leader in transport decarbonisation and battery storage, two sectors which are critical in driving the transition to a net-zero world. As a significant contributor to the decarbonisation of our economies, Zenobē is an exemplary first investment in KKR’s global climate strategy which seeks to scale up businesses at the forefront of delivering real-world solutions to reduce carbon emissions. Zenobē’s management team and Infracapital have built a unique and hard to replicate global platform, and we look forward to working alongside them to further scale the business internationally.”

Shreya Malik, Director in KKR’s European Infrastructure team, added: “We believe Zenobē will continue to benefit from strong secular tail winds including stricter emission regulation in urban and regional areas, and the greater use of low carbon generation in the energy mix driving a need for grid balancing solutions. We see significant growth opportunities within Zenobē’s existing customer base, as well as huge potential in new markets globally. We are excited to bring our operational expertise within KKR’s global platform to actively support the company in continuing to further build a market leading and climate critical business.”

Nicholas Beatty, Co-founder and Director of Zenobē, said: “This investment acknowledges the significant role that transport decarbonisation and battery storage have to play in our net-zero future. It’s also a significant vote of confidence in our business, its achievements to date and future aims. Batteries are the under-recognised crucial component of our future energy and transport systems, and they’re available now. KKR provides Zenobē with a leading international strategic partner to support our expansion plans, taking our experience in accelerating the electrification of fleets and maximising the uptake of renewables into North America, Europe, Australasia and other markets. It also provides support for our ability to raise further debt funding for these expansion plans.”

Andy Matthews, Head of Greenfield at Infracapital, said: “Since our initial investment in 2020, Infracapital has supported Zenobē’s significant innovation and expansion as it has gone from strength to strength in both the battery storage and transportation sectors. We are delighted to announce our further investment into the business, and to embark on this exciting journey alongside KKR as joint shareholders in Zenobē. This strategic partnership marks a significant milestone for the business and fulfils our confidence in its ability to continue to play a leading role in sustainable solutions. We look forward to continuing to contribute our expertise and resources to support Zenobē’s further success on a global scale, whilst creating long-term value for our investors.”

With over 15 years of experience in infrastructure investing, and a long history in the industrials space, KKR has deep expertise in renewable energy and climate-related investments. Since 2010, KKR has committed more than $40 billion to sustainability-focused investments, including over $30 billion to climate and environmental sustainability investments, accelerating net-zero solutions such as X-Elio and Sol Systems, building out net-zero platforms in transportation with Q-Park and Ritchies, and driving transitions with investments including Albioma and ContourGlobal.

KKR has been investing in the UK for over two decades, having deployed almost $24 billion in equity across all investment platforms, including almost $5 billion in sustainability-related investments over the past 3 years in investments such as Citation, ERM, John Laing and Viridor.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on X (formerly Twitter) @KKR_Co.

About Zenobē Energy Ltd. (Zenobē)

Zenobē is an EV fleet and grid-scale battery storage specialist, headquartered in the UK. The company began operations in 2017 with three founders and has over the past 6 years increased its staff to >230 FTEs with a wide range of leading skills including electrical engineering, software development, computer sciences and financing. It now operates in Europe and Australasia and is expanding into North America. Zenobē has 430MW of battery storage in operation or under construction with another 1.2GW of projects in advanced development in the UK which equates to circa 20% market share forecast by 2026. It has around 25% market share of the UK EV bus sector and c.1000 electric vehicles supported globally. The company is the largest owner and operator of EV buses in the UK, Australia and New Zealand.

Zenobe’s services are supported by market leading financing capability. This has included completing and drawing down against the Fleet private placement in February 2022 which raised over £240 million long term debt for the financing of Fleet customers, principally bus operators in the UK, over up to 16 years. This also included the financing of grid-scale batteries completed in February 2023 which raised £635m of debt including an accordion for the development of Zenobē’s grid-scale battery storage assets in Scotland.

For more information, please visit www.zenobe.com/ or follow on LinkedIn.

About Infracapital

Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €7.8 billion of client capital across six funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 5 million retail customers and more than 800 institutional clients in 28 markets. Total assets under management are £342 billion (as at 31 December 2022). https://www.infracapital.co.uk/

KKR
Alastair Elwen
FGS Global
T: +44 20 7251 3801
E: KKR-Lon@FGSGlobal.com

Zenobē
Beth Townsend
Hill + Knowlton Strategies
T: +44 7510 768007
E: Zenobē@hkstrategies.com

Infracapital
Colette Cahill
T: + 44 7500 547034
E: Infracapital@teneo.com

Source: KKR & Co. Inc.

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