EQT continues to accelerate portfolio companies’ ESG performance

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  • EQT launches its second ESG-linked Subscription Credit Facility (“SCF”), now within the Infrastructure business line, partnering with a strong syndicate of global financial institutions
  • The SCF is a further example of EQT’s commitment to future-proofing companies and way of aligning the interest of its investors with the broader community by incentivizing portfolio companies’ Environmental, Social and Governance (“ESG”) performance
  • The SCF is currently at EUR 2.7 billion and has an upper limit of around EUR 5 billion

EQT is continuously exploring systematic ways of making a positive impact by future-proofing companies and integrating ESG throughout all aspects of its operations. Today, EQT is proud to announce the launch of a new ESG-linked Subscription Credit Facility (the “SCF” or “bridge facility”) to the Infrastructure business line.

The bridge facility, which is currently at EUR 2.7 billion with an upper limit of around EUR 5 billion, is backed by a syndicate of global financial institutions, including BNP Paribas and SEB acting as Sustainability Coordinators and BNP Paribas as Agent and Sustainability Agent. This new bridge facility follows EQT’s launch of an ESG-linked SCF in its Private Equity business line in June 2020, which had the same upper size limit and represented the largest ever ESG-linked bridge facility in the global fund financing markets.

The SCF will be coupled with an innovative pricing model designed to inspire and incentivize portfolio companies to improve their performance in the areas of i) gender equality on the board of directors and ii) renewable energy transition, supported by iii) a fundamental sustainability governance platform.

The pricing mechanisms are directly linked to EQT’s societal ambitions around diversity and climate as well as EQT’s proven governance model and strong commitment to transparency and accountability. The aggregated results from the portfolio companies’ ESG efforts will be compared with pre-set KPI targets and eventually impact the ESG-bridge facility’s interest rate. In other words, the more ESG progress the portfolio companies demonstrate, the better the financing terms the fund will receive. At the same time, as targets are fulfilled, the societal impact will be substantial, effectively improving female board representation to 40% and the use of renewable electricity to 85% across the portfolio companies.

Lennart Blecher, Deputy Managing Partner and Head of EQT Real Assets commented: “As a responsible owner, we are continuously exploring new opportunities which can accelerate progress within the environmental, social and governance areas. A bridge facility is an excellent way of rewarding and encouraging the portfolio companies’ advancement in ESG-related areas, and by accelerating their progress we make a very tangible impact. At the same time, we are aligning interests of value-driven investors and financial institutions, joining forces in partnership to drive real change and scale our positive impact”.

Therése Lennehag, Head of Sustainability at EQT, added: “This new bridge facility demonstrates how private equity can play an instrumental role as a catalyst of change, moving the entire financial community to stimulate more sustainable businesses. As a leading market player, EQT always aims to lead by example, future-proofing companies and making a positive impact”.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently has more than EUR 46 billion in assets under management across 16 active funds within two business segments – Private Capital and Real Assets.

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

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.

More info: www.eqtgroup.com
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Searchlight Capital Partners Closes Third Fund at $3.4 Billion

Searchlight Capital

Searchlight Capital Partners Closes Third Fund at $3.4 Billion

 

18th November, 2020: Searchlight Capital Partners, L.P. (“Searchlight” or “the Firm”), a leading global private investment firm, today announced the final close of Searchlight Capital III, L.P. (“the Fund”), with total committed capital of $3.4bn. This is the third private equity fund the firm has raised since it was founded in 2010.

“We are truly grateful for the support of our investors,” the Founding Partners of Searchlight said. “The Firm’s capital structure flexibility, industry expertise, and geographic reach position us very well to invest in this unprecedented environment. The Fund is already 30% committed to investments in partnership with leading management teams and entrepreneurs.”

Like its predecessors, Searchlight’s latest Fund will target investments in North America and Europe, leveraging the Firm’s teams in both geographies to pursue opportunities in a range of sectors including communications, media and financial and business services, amongst others.

Latham & Watkins LLP served as legal counsel to the Fund.

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Capricorn welcomes Prof. Bart De Moor as Chairman of the Capricorn Digital Growth Fund

Capricorn

Bart De Moor is a full professor at the KULeuven at the Department of Electrical Engineering, and a guest professor at the University of Siena. His research interests are in numerical linear algebra, optimization, algebraic geometry, systems and control theory, data driven AI and machine learning with applications in the process industry and bio-medical big data processing. During his career, he co-founded 8 spinoff companies, 7 of which are still active (www.ipcos.be, www.tmleuven.be, www.trendminer.com (acquired by Software AG), www.cartagenia.com (acquired by Agilent), www.ugentec.com, www.lindacare.com, www.aspect-analytics.com). Since 2018, he is one of the architects and coordinators of the AI Program of the Flemish Government (research, valorisation, education, ethics). Full details about his resume and his publications can be found at www.bartdemoor.be .

Katrin Geyskens, partner at Capricorn states “Because of his background and interests, Bart is the perfect combination of cutting-edge academic AI knowledge and entrepreneurship. Previous spin-off companies in which Bart was involved were targeting applications in the healthcare area as well as in non-healthcare. As Bart was previously part of the Advisory Board of the Capricorn ICT Arkiv Fund, he knows the Capricorn team and our way of working well. We are honoured that he accepted to take up the role of Chairman in our Capricorn Digital Growth Fund.”

The Capricorn Digital Growth Fund invests in data science and core AI technologies and their applications with a main focus on two verticals that will benefit substantially from a data driven approach: Digital Health and Industry 4.0. The fund invested already in the Ghent-based Indigo Diabetes (www.indigomed.com) who is working on a nextgen invisible glucose monitor, and in Gradyent (www.gradyent.com), a Dutch start-up developing digital twins to optimize district heating networks. The Capricorn Digital Growth Fund currently has more than € 50 million capital committed and still is open to new investors.

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STG raises $2.0 billion for STG VI in a four-month fully virtual fundraise

Stg Partners

STG raises $2.0 billion for STG VI in a four-month fully virtual fundraise

STG VI exceeded its $1.5 billion target and was heavily oversubscribed

Palo Alto, CA – November 16, 2020 – STG Partners (“STG”, or the “Firm”), a leading private equity firm focused on investing in the software, data analytics and software-enabled technology services sectors, is pleased to announce the final closing of STG VI (the “Fund”) on $2.0 billion of committed capital, including limited partner commitments of $1.85 billion. The Fund exceeded its $1.5 billion target and was oversubscribed at its limited partner hard cap in approximately four months from formal launch of the fundraise, which was executed as an entirely virtual process. Evercore Private Funds Group acted as the exclusive global placement agent for the fundraise.

The Fund will continue STG’s value-oriented investment strategy focused on middle market investments in the enterprise software and software-enabled technology services sectors. STG distinguishes itself through a value-oriented and operationally-focused approach to transforming middle market companies in its sectors into market leaders. Since Symphony’s founding in 2002, STG has cultivated its reputation as a premier investment firm in the space through its continued ability to drive operational efficiencies, top-line enhancement, and breakout innovation within portfolio companies.

STG VI launched in June 2020 amidst the COVID-19 pandemic and resulting shutdown. With investors unable to meet in person, STG moved ahead with a virtual process, driven by high conviction in the robust market opportunity for STG’s differentiated, value-oriented strategy within the technology sector and top quartile performance of STG’s predecessor funds across market cycles. STG made extensive use of video conferencing to meet with limited partners, as well as virtual due diligence sessions including an investor diligence day webcast to further showcase the organization in the absence of in-person meetings or events. STG VI received strong support from existing investors, as well as a diverse group of new investors that includes public and corporate pensions, insurance companies, endowments and foundations, family offices, consultants, and asset managers from North America, Europe, and Asia.

On behalf of the leadership team of the Firm, William Chisholm, Managing Partner and Chief Investment Officer, commented: “We are incredibly grateful to our existing and new investors for their support, especially given the context of the unprecedented environment in which we raised STG VI. We are excited about the opportunity ahead for the Fund, as well as the team and platform we have in place as we head into the next chapter for STG.”

Richard Anthony, CEO of Evercore Private Funds Group, stated: “We are delighted to have once again advised STG on another highly successful fundraise, executed in a fully virtual environment. The expediency of the raise to its hard cap speaks volumes about the caliber of William and his team at STG.”

Kirkland & Ellis LLP acted as legal counsel to STG.

About STG Partners

STG is the private equity partner to market leading companies in software, data analytics and software-enabled technology services sectors. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world class management teams. STG and its predecessor, Symphony Technology Group (“Symphony”), have raised approximately $5.0 billion in total capital commitments across five funds and their expansive portfolio has consisted of more than 30 global companies. For more information, please visit www.stgpartners.com.

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Bridgepoint Credit announces pricing of debut CLO

Bridgepoint

Bridgepoint Credit today (13 November 2020) announced the pricing of its debut European collateralised loan obligation (“CLO”), the €302 million Bridgepoint CLO 1 DAC (“Bridgepoint CLO 1”). In line with Bridgepoint’s responsible investing principles, Bridgepoint 1 contains specific ESG eligibility criteria which detail restrictions on the industries in which the CLO will invest.

Arranged by Barclays, Bridgepoint CLO 1 is expected to close on 18 December 2020.

William Jackson, managing partner of Bridgepoint said: “This is a milestone transaction for our credit platform which comes just three weeks after the completion of the merger of Bridgepoint Credit and EQT Credit. Credit is a key strategy for Bridgepoint which, thanks to our team’s market position, allows us to continue to offer a diversified range of alternative investment products to our investors.”

Andrew Konopelski, Bridgepoint Credit managing partner, added: “I would like to congratulate John Murphy and this team on the successful pricing today of Bridgepoint Credit’s maiden CLO. The strong investor demand reflects the depth of expertise across the platform and our complementary suite of credit products for the market. The enlarged Bridgepoint Credit team is open for business. This was a great team effort.”

The collateral manager of Bridgepoint CLO 1 is Bridgepoint Credit Management Limited.

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Investor AB’s Capital Markets Day 2020

Investor

2020-11-13 08:15 GMT+01

At today’s Capital Markets Day, starting at 12.30 (CET), Investor will:

  • Provide an update on its strategic priorities and engaged ownership model
  • Present the companies within Patricia Industries, where Mölnlycke will confirm continued strong growth in October 2020
  • Confirm that the Board has decided not to propose a second dividend, following the dividend payment of SEK 6.9bn or SEK 9 per share in June 2020.

This year’s Capital Markets Day will be an online event featuring CEO Johan Forssell together with CFO Helena Saxon and other members of the management team. The CEOs of the companies within Patricia Industries will present at the event, which will include a short introduction of Mölnlycke’s new incoming CEO, Zlatko Rihter

“Investor entered the crisis in a strong financial position, and I am impressed by how the management teams in our companies have handled this challenging year. Going forward, we are committed to continue to create value. We have a proven ownership model, market-leading companies with significant exposure to accelerating trends and a strong industrial network to support value creation,” comments Johan Forssell, Investor’s President and CEO.

In June 2020, Investor paid out SEK 6.9bn in dividend to its shareholders, equaling SEK 9 per share. The Board has now reviewed the potential for a second dividend following the dividend decisions in the portfolio companies. Taking these into consideration, as well as the increased spread of covid-19 in many regions, the Board has decided not to propose a second dividend and will thus not call for an Extra General Meeting in 2020.

Investor maintains its dividend policy to distribute a high percentage of dividends received from its holdings within Listed Companies, as well as to pay a yield on other net assets in line with the market. The ambition is to pay a steadily rising dividend.

The full agenda and presentations will be available on Investor’s website, investorab.com, before the Capital Markets Day starts at 12:30 (CET). The event is expected to conclude at approximately 3:30pm (CET). To participate register at investorab.com.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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JMJ Associates Announces New CEO, Jeff Williams, Marking a New Phase of Development and Growth

3I

JMJ Associates, a leading global consultancy specializing in transforming people, performance, and culture to deliver breakthrough results, announces the appointment of Jeff Williams as Chief Executive Officer. The company’s Chief Financial Officer, Andy Fisher, had served as interim CEO since January and will continue in his role as CFO.

Jeff Williams brings extensive global consulting experience to JMJ. He is a seasoned leader and expert in the energy sector, delivering innovative enterprise-wide transformation. He recognizes that people are a company’s greatest asset, and he brings a deep understanding of the importance of focusing on human capital to achieve breakthrough performances.

“We are excited to welcome Jeff to the team,” says Peter Regan, Chairman. “Jeff brings with him a wealth of consulting experience and is known for designing and executing transformational solutions for clients. We look forward to benefitting from the insights and expertise he has accumulated over his 24 year consulting career, building and leveraging on JMJ’s existing capabilities and strengths as we chart a course for the next stages of our development and growth.”

“I would also like to express my deep appreciation to Andy Fisher for his sound leadership and commitment to the business in his role as interim CEO, particularly through these current times. Andy’s steady hand helped our global community navigate this turbulent period in our markets and helped set a firm foundation for our future.”

During Jeff’s consulting career, he has worked with top-level executives and Fortune 500 clients across various industries, including energy, healthcare, pharmaceutical, and manufacturing. His expertise includes refreshing corporate visions and strategies, aligning executive leadership teams, enabling operational excellence, and post-merger transformations. He has authored dozens of articles and studies on business transformations and is a regular speaker at industry events.

“I am truly honored to be chosen to lead this great transformational consulting organization,” says Jeff. “I am looking forward to working with JMJ’s global talent to further our mission of enabling people to reach their full potential, thrive in their workplace, and live more rewarding lives. JMJ is uniquely positioned to meet the demands of businesses looking for results beyond the predictable. Together, we will help clients solve their toughest challenges to deliver breakthrough performances.”

Most recently, Jeff served as the Global Consulting Leader for EY’s Oil & Gas Practice while also leading their Energy Consulting Business for the Americas. Before EY, Jeff served as General Manager for Slalom Consulting, a modern, cross-industry strategic consulting business. Jeff began his consulting career with Accenture (previously Andersen Consulting), where he spent 18 years serving many of the largest clients in the energy sector. Jeff is also a co-founder and board member of Umbrage Studios, a creative product development studio headquartered in Houston, Texas.

“This is a strange and challenging year. Many companies face volatility, uncertainty, and ambiguity and need to create breakthroughs in human performance and productivity. Being able to offer JMJ’s distinct capabilities in cultural transformation and organizational performance more broadly and in a modernized way, blending physical, virtual and digital client experiences, and refining the practice of management and leadership is what is exciting to me.”

 

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C5 Capital Appoints Rob Meyerson, former President of Blue Origin, as Operating Partner

C5 Capital

WASHINGTON and LONDON, Nov. 12, 2020 /PRNewswire/ —C5 Capital USA LLC (“C5“), the specialist venture capital firm that invests in the secure data ecosystem, including cybersecurity, AI, cloud and space announces Rob Meyerson as its newest Operating Partner joining C5’s new Impact Partners Fund based in Washington DC.

Rob Meyerson is responsible for advancing C5’s deal flow and investments with innovative technologies at the intersection of space, cloud computing and cybersecurity. Rob will help C5 to identify founders and technologies at the leading edge of space as one of the fastest growing new markets for cloud computing and cybersecurity.

Rob is the founder and CEO of Delalune Space, a consulting company focused on the aerospace, mobility and technology sectors. Rob is the former President of Blue Origin, one of the leading private space companies in the US, and worked directly for Jeff Bezos. He brings more than 30 years of space experience with him.

Rob oversaw the growth of Blue Origin from 2003 to 2018, building the company from its early days as a think-tank into a leading space company. Under Rob’s leadership, Blue Origin developed the New Shepard system for suborbital human and research flights, a new liquid rocket engine business (developing and offering the BE-3 and BE-4 engines), the New Glenn launch vehicle and the Blue Moon lunar lander. During this time, Rob oversaw Blue’s growth from 10 people, to a more than 1500-person organization with facilities in six locations. Prior to joining Blue, Rob was a Senior Manager at Kistler Aerospace. Rob began his career as an aerodynamicist at NASA’s Johnson Space Center (JSC).

 

 

 

Rob has undertaken a career transformation since leaving Blue Origin, to broader leadership in shaping the direction of the exciting space sector. Rob serves as the Executive Producer of ASCEND, a new innovative platform created by AIAA to build our off-world future. He also serves on the boards of several for-profit and non-profit organizations.

Andre Pienaar, Founder of C5 Capital stated: “The future of cybersecurity will be decided in space. Space is the strategic high ground for cybersecurity. We look to the successful US launch of SpaceX’s Crew Dragon as an acceleration of the growth of the low earth orbit space economy that opens new opportunities for private investors. Rob Meyerson is a pioneering leader with exceptional deep domain expertise in space. Rob will help C5 to invest in building cybersecurity and cloud computing as critical infrastructure in space to secure the future for all.”

Rob Meyerson, stated: “The world is becoming more and more reliant on space for communications; positioning, navigation and timing (PNT); weather monitoring; earth observation and other services. These space systems now serve as utilities and are part of our critical infrastructure that we rely on for everything, from predicting weather events to tracking wildfires to pumping gasoline. C5 Capital is committed to building companies that will make this critical infrastructure resilient and available to a broader population. I’m honored to be joining the incredible team of professionals at C5 Capital.”

Press Contact – C5 Capital
Charlie Jack/Andrew Leach/Michael Celiceo/Mary Magnani
hsclarity@hudsonsandler.com
020 7796 4133

About C5 Capital
C5 Capital Limited (C5) is a global specialist investment firm that exclusively invests in the secure data ecosystem including cybersecurity, cloud infrastructure, and applied data analytics. The firm is dedicated to nurturing a secure digital future and our investment strategy is based on an approach of building long-term relationships with innovative companies that share in our mission. For more information, visit: www.c5capital.com.

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The Riverside Company Welcomes Iain Leigh to Board of Advisors

Riverside

The Riverside Company, a global private equity firm focused on the smaller end of the middle market, welcomes Iain Leigh as the newest member of the Riverside Board of Advisors (RBA) upon his retirement as founder of the private equity business of APG Asset Management. Leigh is also well known for his prior role leading AlpInvest Partners in North America.

The RBA was formed by Riverside Co-CEOs Stewart Kohl and Béla Szigethy in 2015, valuing the board’s strategic guidance for the growth of Riverside as a global GP providing leading LP’s global access to the smaller end of the middle market. Leigh will join Riverside advisors Paul Dimitruk, Co-Founder and Senior Partner – Partners Capital; Chuck Hardin, Partner – Jones Day; Linda Lynch, Co-Founder and Managing Director – Winthrop Square Capital; and Chris Rossi, Director of Private Equity and Real Estate – Parkwood Corporation.

“We’re honored to have Iain join the RBA and the larger Riverside family,” said Riverside Co-CEO Stewart Kohl. “The PE industry is evolving rapidly in so many ways, and Iain is uniquely able to help us navigate this dynamic chapter in our own evolution of service to investors and portfolio companies. He brings deep and unique global experience as an LP, GP, co-investor, secondary buyer and leader with many of the largest and most innovative and sophisticated private capital investors.”

Leigh joins Riverside with nearly 45 years of experience in various investment professional roles. From 2012 to 2020, Leigh was Global Head of Private Equity for APG Asset Management, and at the end of his tenure, the firm managed more than $550bn on behalf of Dutch pension schemes across most asset classes, with private equity NAV of more than $30bn. He was responsible for founding the private equity business for APG, covering Funds, Co-Investments and Secondaries, from offices in New York, Hong Kong and Amsterdam.

“We view Riverside as a leading PE firm in the SEMM, and Iain is someone who has experience working with some of the largest firms in the world,” said Riverside Co-CEO Béla Szigethy. “Iain has a unique pulse for the industry, including the evolving partnership between LPs and GPs. Stewart and I are excited to have his expertise as we continue to grow the firm.”

“For more than thirty years, Stewart and Béla have built an impressive organization, cultivated the right team and created a broad product suite to address the smaller end of the middle market,” said Leigh. “I am delighted to be joining the RBA in a capacity where I can contribute to Riverside’s continued growth.”

From 2000 to 2011, Leigh was a co-founder of AlpInvest Partners, with responsibility for the North American business and managing the US Co-Investment and Mezzanine teams. He started his career in London spending 25 years with merchant bankers Kleinwort Benson there and in Hong Kong, Singapore and Geneva.

Muellerholly BKG 300X450 Holly Mueller Consultant, Global Marketing and Communications Cleveland +1 216 535 2236

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Kinnevik’s Chairman Dame Amelia Fawcett will not make herself available for re-election

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that the Chairman of the Board of Directors, Dame Amelia Fawcett, has informed the Nomination Committee that she will not make herself available for re-election at the Annual General Meeting in 2021.

Dame Amelia Fawcett joined Kinnevik’s Board of Directors in 2011, was appointed Deputy Chairman in 2013, and was elected Chairman in 2018. Kinnevik’s Nomination Committee has initiated the search for a replacement for Dame Amelia in time for the Annual General Meeting of shareholders in 2021.

Anders Oscarsson, Chairman of the Nomination Committee, commented: “On behalf of the Nomination Committee, I would like to extend our gratitude to Dame Amelia for her significant contribution during her ten years on the Board of Kinnevik, and her leadership during her last three years as Chairman. The Nomination Committee looks forward to presenting its proposal for the new Chairman of Kinnevik as the company continues its successful transformation.”

Dame Amelia Fawcett commented: “It has been an honor and a privilege to serve on Kinnevik’s Board for ten years. During this time, Kinnevik has undergone a significant strategic transformation and today Kinnevik is in a strong position in the Nordic and global markets. The company has an exciting portfolio of widely recognized growth companies, delivering significant value to shareholders by building long-term sustainable businesses. I would like to thank all shareholders for their support in giving me the opportunity to be a small part in the great story that is Kinnevik.”

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 12.30 CET on 5 November 2020.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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