IK Partners raises €2.0 billion for fourth Small Cap fund

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has closed its fourth Small Cap fund, the IK Small Cap IV Fund (“IK SC IV” or “the Fund”), at its hard cap with commitments of €2.0 billion. The Fund’s predecessor, IK Small Cap III, raised €1.2 billion in 2021.

IK SC IV was oversubscribed at its hard cap in less than six months after its launch, having attracted significant interest from a high-quality institutional investor base across EMEA (71%), North America (18%) and Asia (11%). 80% of the capital raised is from existing investors across the IK Platform, reflecting continued investor confidence and support.

The Fund has already made one investment and will continue to employ the same investment strategy focused on growing business across IK’s core sectors of Business Services, Healthcare, Consumer and Industrials, supporting companies with enterprise values between €80 million and €200 million. Like its predecessor, IK SC IV also includes a dedicated pool of Development Capital (€600 million) which will focus on investing in smaller companies valued between €20 million and €80 million.

IK launched its Small Cap strategy in 2015 and has since invested in 56 transactions across four funds. Collectively, the funds have thus far realised a total of over €2.1 billion in proceeds, representing 128% of invested capital. This translates into a money multiple of 3.1x on the 25 investments exited.

The closing of the IK Small Cap IV Fund follows a period of record deal activity for IK, which saw it invest in 21 new companies and exit 11 since the start of 2024. During this period, the Firm also held closes on funds totalling in excess of €6 billion in commitments, including €505 million raised for the IK Strategic Opportunities I Fund — its first continuation fund — in April 2024 and more recently, the €3.3 billion close of the IK X Fund, IK’s 10th Mid Cap fund, in April 2025.

Christopher Masek, CEO of IK Partners, said: “We are pleased to announce the close of our fourth Small Cap fund, building on IK’s long-standing expertise in the lower mid-market. Investor appetite for this strategy continues to grow, reflecting the strength of our local sourcing model and the compelling opportunities in this segment. With record activity in 2024 and robust performance in the first half of 2025, we arewell positioned to continue supporting ambitious businesses and creating long-term value across our portfolio.”

Kristian Kemppinen, Managing Partner and Head of Small Cap Strategy, commented: “A decade after we launched our first Small Cap Fund, we continue to benefit from positive market dynamics at the lower end of the mid-market. IK’s multi-strategy offering has allowed us to remain resilient in the face of an ever-evolving landscape, with the positioning of our Small Cap strategy offering us more choice and opportunity than ever. Building on our long-established track record, we look forward to deploying IK SC IV at a disciplined pace.”

Mads Ryum Larsen, Managing Partner and Head of Investor Relations, said: “We offer our sincere thanks to each of our investors — existing and new — for continuing to place their trust in IK by contributing to the successful close of yet another Small Cap fund, the largest we’ve raised to date. Following on from the successful close of our biggest flagship fund earlier this year, we are reassured of their support and belief in the success of our investment approach. We remain grateful for their continued confidence and backing.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

H/Advisors Maitland
Finlay Donaldson
Phone: +44 (0) 7341 788 066
finlay.donaldson@h-advisors.global

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €20 billion of capital and invested in over 200 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Accel-KKR Receives Minority Equity Investment from PACT Capital Partners

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MENLO PARK, Calif.June 18, 2025— Accel-KKR, a software and technology-focused private equity firm, today announced that PACT Capital Partners, a middle-market focused GP stakes investment firm, has made a minority equity investment in the firm.

Proceeds from the PACT investment will be used primarily to increase Accel-KKR’s capital commitments to the firm’s current investment strategies and support the firm’s continued growth. None of the capital being invested by PACT as part of this transaction is being distributed to the principals of Accel-KKR.

Tom Barnds and Rob Palumbo, co-Managing Partners of Accel-KKR, said, “This investment by PACT will accelerate our achievement of our strategic goals, and we are excited to extend our relationship with Christian von Schimmelmann, who has been a friend to Accel-KKR for many years. We look forward to leveraging PACT’s relationships and value-added capabilities through their imPACT team.”

“The principals of Accel-KKR are already the largest investors across our capital base, providing strong alignment with our limited partners,” Barnds and Palumbo said. “This investment from PACT will help us to expand our future capital commitments across the entire Accel-KKR platform.”

Christian von Schimmelmann, Managing Partner at PACT, said, “We are thrilled to partner with Accel-KKR, which we believe is one of the preeminent technology investment platforms in the world, and to back them with both capital and strategic support. On a personal level, I’m very excited to continue the relationship with Tom and Rob, who have built what we view as one of the strongest and best performing private investment businesses in the industry.”

Brian Vickery, Partner and head of PACT’s proprietary imPACT Platform, added, “Accel-KKR has built an exceptional, diversified investment platform over multiple decades. We very much look forward to working with Tom, Rob, and the rest of the Accel-KKR team.”

Specific terms of the transaction are not being disclosed.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, secondaries, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in AtlantaChicagoLondon, and Mexico City.  For more, visit accel-kkr.com.

About PACT Capital Partners
PACT Capital is an independent investment firm focused on providing capital and strategic support to middle-market alternative asset management firms. PACT seeks to partner with high-performing established and emerging private capital firms and help them to achieve their strategic objectives.  Headquartered in New York, PACT utilizes its proprietary imPACT platform to assist partner firms in accelerating capital formation, designing and launching new products, improving operations, attracting and retaining talent, leveraging cutting-edge technology, and improving outcomes for underlying portfolio companies. For more information, please visit https://www.pactcapitalpartners.com/.

The views and opinions expressed are those of the speakers and do not necessarily reflect those of AKKR or its affiliates (“AKKR”)

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Thoma Bravo Completes $34.4 Billion Fundraise

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Thomabravo

Clear Support for Thoma Bravo’s Strategy of Investing in Leading Software Companies and Commitment to Returning Liquidity to Investors Across Market Cycles

SAN FRANCISCO, MIAMI, LONDON AND CHICAGOThoma Bravo, a leading software investment firm, today announced the completion of fundraising for its buyout funds totaling more than $34.4 billion in fund commitments: Thoma Bravo Fund XVI, a $24.3 billion fund, Thoma Bravo Discover Fund V, an $8.1 billion fund, and as previously announced the firm’s first dedicated Europe Fund, with approximately €1.8 billion in capital commitments (individually, a “Fund” and collectively, the “Funds”). The fundraise demonstrates strong support from Thoma Bravo’s diverse network of investors for the firm’s buyout strategies. Each fund significantly exceeded its target. Thoma Bravo Fund XVI and the Europe Fund were oversubscribed and achieved their hard caps and Thoma Bravo Discover V experienced an over 30% increase in commitments from its prior vintage.

“We are deeply grateful to our investors for their continued confidence in Thoma Bravo,” said Orlando Bravo, a Founder and Managing Partner at Thoma Bravo. “This fundraise is a testament to the strong relationships we’ve built with our investors over many years and reflects their belief in our ability to drive meaningful results. Their support will enable us to continue delivering on the strategy we have executed for more than two decades – pursuing leading software companies and deploying our strategic and operational expertise to drive innovation and profitable growth.”

“The successful completion of our fundraise underscores the enduring trust our investors have in Thoma Bravo’s approach and team,” said Jennifer James, Managing Director, Chief Operating Officer and Head of Investor Relations & Marketing at Thoma Bravo. “All three funds far exceeded their targets, reflecting not only the strength of our investor relationships but also their conviction in our ability to navigate complex markets. We look forward to continuing to be good stewards of our investors’ capital as we seek to deliver strong outcomes.”

Thoma Bravo has had an active 12 months on both the buy and sell side, with buyout fund investments and realizations representing approximately $35 billion in combined enterprise value.

The firm has invested in more than 535 software companies, and today, its software portfolio includes over 75 companies that generate approximately $30 billion of annual revenue and employ over 93,000 staff globally.

Commitments to the Funds were secured from Thoma Bravo’s broad network of global investors, including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices.

Kirkland & Ellis served as legal advisor for the Funds.

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with approximately $184 billion in assets under management as of March 31, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 535 companies representing approximately $275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Read the release on PR Newswire here.

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Carlyle, SK Capital Partners and bluebird bio Amend Merger Agreement

Carlyle

Stockholders may elect to receive either $3.00 per share plus CVR of $6.84 per share in cash payable upon achievement of a net sales milestone or $5.00 per share with no CVR

SOMERVILLE, Mass.—(BUSINESSWIRE)—May 14, 2025—bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), Carlyle (NASDAQ: CG) (“Carlyle”) and SK Capital Partners, LP (“SK Capital”) today announced they have amended their definitive agreement pursuant to which  Carlyle and SK Capital will purchase all of the outstanding shares of bluebird. Under the terms of the amended agreement bluebird stockholders can elect to receive either (x) the original offer of $3.00 per share in cash plus a contingent value right (“CVR”) of $6.84 per share in cash payable upon achievement of a net sales milestone or (y) $5.00 per share in cash. The amended offer price provides an alternative for stockholders who would prefer greater upfront cash consideration instead of the potential upside of the CVR. Any shares tendered for which no election is made will receive the original consideration of $3.00 per share in cash and a contingent value right per share.

The bluebird board of directors unanimously approved the amended agreement and recommends that all stockholders immediately tender their shares in support of the transaction.  The bluebird board of directors continues to believe that the transaction with Carlyle and SK Capital, as amended, represents the only viable option for stockholders to receive consideration for their shares. Absent a majority of stockholders tendering, bluebird is at significant risk of defaulting on its loan agreements with Hercules Capital, and it is extremely unlikely that stockholders would receive any consideration for their shares in a bankruptcy or liquidation.

In connection with the amended agreement, the expiration date of the tender offer has been extended to expire at one minute after 11:59 p.m., New York City time, on May 29, 2025. Equiniti Trust Company, LLC, the depositary for the Offer, has advised that as of the close of business on May 13, 2025, approximately 2,281,724 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer.

Instructions for Stockholders:

  • Stockholders that have previously tendered their shares and elect to receive the original offer of $3.00 per share plus a CVR do not need to re-tender their shares or take any other action in response to this extension
  • Stockholders that have previously tendered their shares and wish to elect to receive $5.00 per share in cash must withdraw and re-tender their shares and complete and sign the letter of election and transmittal attached to the Offer to Purchase. Detailed instructions are available in the Offer to Purchase.
  • Stockholders that hold shares of bluebird through a broker or other nominee may be subject to a processing cutoff that is prior to the tender deadline, so it is important to act now.
  • Stockholders who need assistance with tendering their shares of bluebird may contact the Information Agent, Innisfree M&A Incorporated, by calling toll-free at (877) 825-8793.

As previously announced on May 5, 2025, Carlyle and SK Capital have received all required regulatory approvals to complete the transaction, and all parties expect the transaction to be consummated promptly following the successful completion of the ongoing tender offer.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader.  bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years.  Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy.  We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest.  With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents.  Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors.  The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value.  SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk.  SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries.  The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com.

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird.  The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO (as amended), including an offer to purchase, a letter of election and transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 (as amended) with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov.  Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

(978) 621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

(857) 299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

(212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

(646)-278-1353  

bdillon@skcapitalpartners.com

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Blackstone Announces $10.6 Billion Final Close of Largest Ever European Real Estate Drawdown Fund

Blackstone

LONDON, UK – April 9, 2025 – Blackstone (NYSE: BX) today announced the final close of its latest European real estate fund, Blackstone Real Estate Partners Europe VII (“BREP Europe VII”). The fund has raised €9.8 ($10.6) billion of total capital commitments, making it the largest European real estate drawdown fund ever raised based on third party capital commitments.

In total, Blackstone’s three opportunistic strategies (Global, Asia, Europe) have nearly $47 billion of available capital. With scale capital available globally, including in Europe through BREP Europe VII, we believe Blackstone’s real estate funds are well positioned to capitalize on an opportunity-rich environment.

James Seppala, Head of European Real Estate, Blackstone, said: “We are extremely proud to have raised Europe’s largest real estate drawdown fund ever during what has been a period of exceptional dislocation in the industry, particularly in Europe. The real estate recovery is coming into view and we are grateful that our limited partners have entrusted us with substantial capital to seek to capture opportunities through our time-tested, high conviction investment process.”

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $315 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact
Dafina Grapci-Penney
Dafina.GrapciPenney@Blackstone.com
+44 (20) 71044825

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Scaling Science and Sustainability: Voima Ventures Finalises Fund III, north from €100M.

Voima Ventures

Helsinki, Finland – Voima Ventures has announced the final closing of its €100M+ Fund III, an Article 8 compliant deep tech fund. Based in both Helsinki and Stockholm, the fund has already begun deploying capital with 8 finalised investments from its first closing to accelerate breakthrough innovations across the Nordic and Baltic deeptech landscape.

Key Highlights:

  • €100M+ final close of Voima Ventures Fund III
  • Focused on science and deeptech startups across the Nordic and Baltic region
  • Investing into 25-30 companies, with initial entry tickets varying from €200k to 3M€.
  • Article 8 compliant under the EU’s SFDR, reinforcing Voima’s dedication to sustainable and impact-driven investing thesis
  • Investors of the Voima Ventures Fund III include among others European Investment Fund EIF, Finnish Tesi and its fund of funds KRR, VTT of Finland, Saminvest from Sweden, and pension funds Nordea Life and Elo, as well as established foundations, and family offices.

Inka Mero, CEO and Managing Partner of Voima Ventures

Scaling Nordic Deeptech- From Labs to Unicorn Potential

With this closing, Voima Ventures emphasised its unique insight to invest in visionary scientific founders and entrepreneurs who are reshaping whole industries, including Life Sciences, energy, food, quantum and advanced AI, to mention a few.

The new Fund is uniquely positioned to support the next generation of science-driven unicorns. Initial investment tickets range from €200k to €3M, with the capacity for significant follow-on investments. The firm aims to further grow its presence in the Nordic and Baltic regions while being the go-to and longterm partner for early-stage university spinouts and startups.

Since its foundation in 2019, Voima Ventures established itself as a trusted partner for early-stage founders, leveraging deep expertise and networks within academia and industry to bridge the gap between research and commercial success. With over 70% of its portfolio companies originating directly from university spin-offs or research ecosystems, the firm remains committed to fostering groundbreaking innovation at its roots.

Growth and Impact

Voima Ventures prioritises high-potential VC investments that deliver both financial returns and positive environmental and societal impact. The fund is committed to ESG principles and is aligned with the EU’s Sustainable Finance Disclosure Regulation (SFDR), as an Article 8 fund.

“In deeptech, pushing the boundaries of science-driven entrepreneurship isn’t just about innovation, it’s about delivering meaningful global impact alongside strong returns,” said Inka Mero, Founder and Managing Partner of Voima Ventures. “Our recent Impact Report highlights this commitment, showing that Voima Ventures Fund III achieves a net impact score of +48%, compared to the average -8% impact of US Fortune 500 companies. This means that every Euro we invest creates significant positive change, driven by more sustainable practices and transformative technologies.”

Voima Ventures Partners From Left to Right: Jussi Sainiemi, Jenny Engerfelt, Inka Mero, Pontus Stråhlman

The Journey Continues

Lately, Voima Ventures has focused on expanding its presence in Sweden, hiring Stina Wallmark as Life Sciences Investment Director and promoting Jenny Engerfelt to Partner earlier in the year. Together, they are driving efforts to strengthen operations and manage the growing deal flow from the region.

The fund will make 25-30 investments and has so far done 8 new investments. Closed investments include examples like ÄIO – replaces palm oil, coconut oil and animal fats with sustainable and healthier alternatives, Liquid sun – sustainable aviation fuel from carbon dioxide and Avenue Biosciences – protein optimization platform enhancing production yield and the quality of pharmaceuticals.

“The Nordic and Baltic regions are setting the global standard for deep tech innovation, and we are proud to grow alongside this thriving ecosystem,” said Jussi Sainiemi, Partner at Voima Ventures. “With a unique blend of cutting-edge research and entrepreneurial talent, these regions are driving solutions that not only tackle global challenges but also redefine industries, creating sustainable value for future generations.”

Voima Ventures Team Day at Solein Production Facility, with Juha-Pekka Pitkänen CScO of Solar Foods Centre

About Voima Ventures

Voima Ventures, founded in 2019, is a Nordic early-stage investor investing in science-based innovations and companies across the Nordics and Baltics. Voima Ventures help founders to accelerate the growth of deep technology ventures to global markets. Voima Ventures is a team of 12 investment and growth entrepreneurship professionals who share a passion for science-based tech. Voima Ventures holds a strong track record in investing in high-growth science-based solutions by being an early investor in success stories like Solar Foods, Dispelix, MVision, Betolar and EniferBio.

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