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ContextLogic Announces Up to $150 Million Strategic Investment by BC Partners

BC Partners Logo
  • Strategic investment and capital commitment positions the Company to execute on its stated acquisition-led value maximization strategy; ContextLogic to have up to $300 million of investible cash
  • Ted Goldthorpe, Head of BC Partners Credit, expected to be named Chairman of the Board

ContextLogic Inc. (NASDAQ: LOGC), (“ContextLogic” or the “Company”) and BC Partners, an alternative investment manager with c.€40 billion in assets under management, today announced that a fund advised by BC Partners Advisors L.P. will purchase up to $150 million of convertible preferred units (the “Preferred Units”) of ContextLogic Holdings, LLC, a newly-formed Delaware limited liability company (“Holdings”) and a wholly-owned subsidiary of the Company.

The investment and commitment by BC Partners, which is being led by BC Partners’ credit arm, together with cash on hand, provides ContextLogic with access to up to $300mm of cash and $2.7bn of cumulative net operating losses. Together BC Partners and the Company will review, identify, and evaluate strategic opportunities for the benefit of ContextLogic and its stockholders. The partnership follows successful initiatives by management to create a streamlined administrative and financial structure to achieve the Company’s strategic goals of acquiring and/or building one or more operating businesses.

The Preferred Units will have an initial dividend rate of 4.00%, which will increase to 8.00% upon the closing of an acquisition. The preferred units will be convertible into common units on a one-for-one basis. A fund advised by BC Partners will invest $75 million at the initial closing, and Holdings may, at its option, issue an additional $75 million of convertible preferred units to BC Partners following the initial closing date to fund an acquisition. Following completion of the investment, ContextLogic will own 58.4% and a fund advised by BC Partners will own 41.6% of Holdings’ common units on a fully diluted basis, assuming full exercise of Holdings’ option to issue additional convertible preferred units.

Rishi Bajaj, Chief Executive Officer of ContextLogic, commented, “We are excited to work with BC Partners, drawing on their expertise and strategic acumen as we seek to create compelling value for shareholders. BC Partners’ track record of value creation across the platform is impressive, and we believe they are best-in-class partners to help maximize value for shareholders. The BC Partners team brings significant experience building businesses across industries, and their capital raising capabilities, global network and operational capabilities will position the Company to deliver on its value creation plan. We strongly believe this new investment will provide us with the capital and flexibility needed to complete an attractive acquisition that could serve as a platform for future acquisitions and enable ContextLogic to fully utilize its considerable assets.”

Ted Goldthorpe, Partner at BC Partners, Head of BC Partners Credit, and incoming Chairman of ContextLogic, said, “BC Partners is excited to take this first step in realizing the tremendous value embedded in ContextLogic. We look forward to working with Rishi and the ContextLogic team to capitalize on their strong balance sheet, featuring up to $300mm of available cash. We will bring to bear the full resources of BC Partners as ContextLogic evaluates a host of strategic opportunities to deliver value to stockholders.”

Board of Directors

Ted Goldthorpe and Mark Ward are expected to join the Board of ContextLogic, with Mr. Goldthorpe expected to serve as Chairman, upon closing.

Ted Goldthorpe is a Partner at BC Partners, where he leads BC Partners Credit, a platform that he co-founded in 2017. Previously, Ted was President at Apollo Investment Corporation, Chief Investment Officer of Apollo Investment Management, and Senior Portfolio Manager, U.S. Opportunistic Credit. At Apollo, he was also a member of the Senior Management Committee and oversaw its US Opportunistic Credit platform. Prior to this, Ted was a Managing Director of the Special Situations Group at Goldman Sachs and ran the Bank Loan and Distressed Investing Desk.

Mark Ward is a Principal on the Credit team at BC Partners, having first joined the team in 2020. Prior to that Mark worked in the Restructuring Group at Houlihan Lokey.

There is no agreement between ContextLogic and any potential target company, and we can provide no assurance that an acquisition will be completed.

Advisors Rothschild & Co acted as exclusive financial advisor to the Company. Schulte Roth & Zabel LLP acted as legal advisor to the Company and Holdings. BC Partners was advised by Proskauer Rose LLP and Ocean Lane Partners.

About ContextLogic ContextLogic Inc. is a publicly traded company that previously completed the sale of substantially all of its operating assets and liabilities in April 2024. ContextLogic is pursuing strategic alternatives to generate value for its shareholders. For more information about ContextLogic, please visit ir.contextlogicinc.com.

About BC Partners and BC Partners Credit BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit www.bcpartners.com/credit-strategy.

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TDR Capital V acquires CorpAcq

Tdr Capital

London, 24 February 2025 – TDR Capital LLP, a leading UK-based, European private equity firm, has made a majority investment in CorpAcq Holdings Limited (“CorpAcq”), a business acquisition compounder based in Altrincham, UK.

As part of the transaction, Vintage Strategies at Goldman Sachs Alternatives, an investor in CorpAcq since 2021, will re-invest to become a minority shareholder alongside TDR.

Founded in 2006 by Simon Orange, CorpAcq specialises in investments in wellestablished, stable and cash generative SMEs in the UK, with a focus on industrial products and services. Its current portfolio consists of a diversified group of over 40 companies delivering strong organic growth.

CorpAcq’s model allows founders to maintain management control and keep their existing brand. Being a long term, strategic investment partner that offers operational support to the businesses it owns has helped CorpAcq grow adjusted EBITDA by 17% per annum over the last five years, reaching £697m of revenues and £119m of adjusted EBITDA in the financial year ended 2023.

Simon Orange and the existing CorpAcq management team will maintain a significant shareholding and continue to run the business. TDR is confident that CorpAcq’s resilient portfolio, proven origination platform and ambitious growth plans will deliver significant upside potential. Its investment in the business will primarily support future CorpAcq acquisitions.

Simon Orange, Founder and Chairman of CorpAcq, said: “We have found an investment partner in TDR that aligns with CorpAcq’s value creation strategy, shares our long-term view, and is fully supportive of the business as we embark on our next phase of growth.” Tom Mitchell, Managing Partner at TDR Capital, said: “In CorpAcq, we identified a highly successful compounder of UK SMEs that has significant further growth potential. With our investment, CorpAcq can continue to provide its owner-friendly business combination strategy, and we look forward to working with Simon and the rest of the CorpAcq team to realise this.”

Nachiketa Rao, Managing Director in Vintage Strategies at Goldman Sachs Alternatives, said: “We are excited to have partnered with CorpAcq as a Portfolio Finance provider to support the impressive growth of their platform. We look forward to this next chapter alongside TDR and management as an equity co-investor.” Barclays and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised TDR. CorpAcq were advised by UBS Investment Bank and Reed Smith LLP. Vintage Strategies at Goldman Sachs Alternatives was advised by Ropes & Gray. –ENDS–

For further information, please contact: TDR Capital tdr@headlandconsultancy.com

About TDR Capital

TDR Capital LLP is a leading European private equity firm with over €15 billion of assets under management. Founded in 2002, TDR typically acquires majority stakes in strong, market-leading European companies with the potential for robust growth and resilience throughout economic cycles. The firm has managed five European mid-market buyout funds. The team of 61 professionals currently manages assets across four European mid-market buyout funds from its headquarters in London. To date, the firm has made 27 platform investments, and its portfolio companies employ over 270,000 people around the world. TDR takes a long-term approach to investment and, in addition to capital invested, also provides expert resource to help drive sustainable value creation and positive, transformational change within the businesses it owns.

For more information, visit tdrcapital.com.

About Vintage Strategies at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and openarchitecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors, and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023. Established in 1998, Vintage Strategies at Goldman Sachs Alternatives is one of the largest secondaries investors in the world and has invested over $70 billion of capital since inception and has been a pioneer in the industry. The business provides liquidity, capital and partnering solutions to private market investors and managers worldwide across a range of private market strategies. For more information, visit am.gs.com/engb/advisors/solutions/alternatives

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AltamarCAM Partners announces Final Closing of ACP Secondaries 5 at close to €1.6 billion, surpassing initial target

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  • The fund closed above its €1.3 billion target despite a tough fundraising climate, reflecting strong investor confidence.
  • The collaboration between Permira and AltamarCAM Partners has been key to achieving this milestone, with Permira helping to broaden access to a high-quality LP base.

 

Madrid, 18 February 2025 – AltamarCAM Partners, a global asset management firm focused on private markets and AUM of over €20 billion, is pleased to announce the final closing of its fifth flagship secondaries program ACP Secondaries 5, at close to €1.6 billion, exceeding its original target size. The successful fundraise underscores strong investor confidence in AltamarCAM’s expertise and proven track record in the secondaries market.

ACP Secondaries 5, has attracted commitments from a diverse base of institutional investors (including pension funds, insurance companies, endowments, and foundations), family offices, and high-net-worth individuals across 16 countries in Europe, North America and Latin America.  More than 40% of the investors are new to the firm.

Over €1 billion (or about 60%) has already been deployed in 33 secondary transactions, in line with the fund´s objectives of optimal diversification across key metrics (including geographies, sectors, vintages, number and types of transactions, and underlying sponsors and portfolio companies).

The strong demand for the fund reflects the growing recognition of secondaries as a strategic and resilient investment opportunity in today’s evolving market environment.

The collaboration between Permira and AltamarCAM Partners has been key to achieving this milestone, broadening the firm´s access to a LPs world-wide.

Commenting on the final closing, José Luis Molina, Global CEO at AltamarCAM Partners, said: “We are grateful for the continued support of our long-term and new investor base. The successful fundraising of ACP Secondaries 5 reflects the confidence and trust placed by our investors, predicated on the attractiveness of AltamarCAM’s differentiated strategy, consistent performance over two decades, as well as our increasing scale and global reach.  Our team and platform are strongly positioned to capture the opportunities within this growing market.”

Investment strategy and market focus

ACP Secondaries 5 continues AltamarCAM’s established approach of targeting high-quality secondary opportunities globally, leveraging its extensive network and deep market insights to identify solid investments, mainly focused on the mid-market.

AltamarCAM Partners has been active in the secondaries markets for over 20 years. Since 2005, AltamarCAM Partners has invested close to €3 billion in secondaries transactions1 across a variety of strategies.

The firm is focused on generating alpha in the secondaries market, mainly within the GP-led segment, and taking a bottom-up approach to analysing each underlying asset. At the core of AltamarCAM’s investment philosophy is our focus on capital preservation while delivering strong risk-adjusted returns for our clients across cycles. As part of that philosophy, we seek to generate alpha with a reduced risk profile, without relying on additional leverage or financial engineering.

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KKR Raises Over $850 Million for Opportunistic Real Estate Credit Strategy

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of the KKR Opportunistic Real Estate Credit Fund II (“ROX II”), a strategy dedicated to opportunistic investments in senior loans and real estate securities in the U.S. and Western Europe. Closed commitments to the comingled fund and separate accounts pursuing KKR’s Opportunistic Real Estate Credit Strategy total over $850 million.

ROX II is KKR’s flagship private fund investing across the full breadth of KKR Real Estate Credit’s opportunistic capabilities. The strategy has a flexible mandate to pursue attractive risk-adjusted returns across both loans and securities. Loan originations will focus on first mortgages secured by high-quality properties owned by institutional sponsors and located in major markets within the United States and Western Europe. KKR has established a leading franchise over the past decade as a mortgage lender of choice to top sponsors. Securities investments will leverage KKR’s position as the largest third-party purchaser of risk retention CMBS B-Pieces, as well as K-Star, KKR’s dedicated special servicer.1

“We believe it is a great time to invest real estate credit. The asset class offers attractive absolute and relative returns, underpinned by the opportunity to lend on high-quality, well-located assets at conservative leverage levels on re-set property values,” said Matt Salem, Partner and Head of Real Estate Credit at KKR. “We have designed our ROX II strategy with a flexible mandate to participate in what we view as the best risk-adjusted opportunities we see across our platform, with the objective of delivering attractive returns coupled with significant current income and a focus on downside protection.”

“Our extensive borrower relationships, built over the past decade, have enabled us to continue our disciplined deployment into an attractive market,” said Joel Traut, Partner and Head of Originations for Real Estate Credit at KKR. “We believe private capital will play an increasingly important role in the commercial real estate market as loan demand continues to climb, and this positions us very well to deliver attractive risk-adjusted opportunities for our investors.”

KKR’s global real estate business invests thematically in high-quality real estate through a full range of scaled equity and debt strategies. KKR’s more than 140 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors. Since 2015, KKR’s real estate credit strategy has originated $43.4 billion of loans and invested $14 billion in commercial mortgage-backed securities (CMBS).2

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.

1 Based on the face amount retained on conduit and SASB CMBS deals from January 1, 2017 – September 30, 2024; Source: Commercial Mortgage Alert (accessed October 2024).

2 As of September 2024

Media
Miles Radcliffe-Trenner or Lauren McCranie
(212) 750-8300
media@kkr.com

Source: KKR

 

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Eurazeo participates in GERMITEC’S EUR 29 million series B fundraising

Eurazeo

The Nov Santé Actions Non Cotées Fund, managed by Eurazeo1, dedicated to the development of the healthcare sector in Europe and which was launched at the initiative of France Assureurs and the Caisse des Dépôts, is announcing the finalization of its third Growth Equity investment in Germitec. Nov Santé Actions Non Cotées is acting as lead investor in this €29 million Series B fundraising alongside historic shareholders including Kurma Partners (Eurazeo’s Health Venture subsidiary), Financière Arbevel, Turenne Capital and the founding family.

Germitec: an innovative French MedTech specializing in High-Level Disinfection solutions for ultrasound probes

Germitec, whose headquarters are based in Bordeaux, is a leader in the field of ultrasound probe disinfection. Using patented technology, the company designs automatic UV-C High Level Disinfection solutions for external, long and short endocavitary and transesophageal ultrasound probes as well as ENT endoscopes without working channel which are all notably used in gynecology and IVF treatments, cardiology, urology and ENT. Using cycles ranging from 90 seconds to approximately 3 minutes, these chemical-free and single-button automatic devices considerably reduce the risk of cross-contamination. Moreover, the intuitive workflow interface enables data storage, visualization and downloading to guarantee complete traceability of the disinfection process.

Its environmentally friendly technology provides an alternative to existing offers on the market (automated or manual chemical solutions such as wipes or chemical baths) whilst meeting the demands of health professionals.

The demand in the global disinfection market is booming, driven by growing needs in the prevention of healthcare-associated infections (in 2023, 72,000 people in the USA and 4,000 in France died because of an infection caught in a medical environment) and the growth dynamic in the use of ultrasound as a reference-tool in medical imagery. By offering solutions adapted to the needs of healthcare professionals, Germitec is positioning itself as a major player in a key public health sector.

With a presence in over 40 countries, Germitec already benefits from international recognition and is today aiming to establish itself in new markets such as the United States, where the company recently obtained the FDA De Novo certification2 for its flagship Chronos3 product. To meet its goals, the company is raising €29 million with the support of Nov Santé Actions Non Cotées acting as lead investor alongside existing investors who are again participating in this second round.

A symbol of the Eurazeo group’s healthcare expertise

This co-investment between Nov Santé Actions Non Cotées and Kurma Partners, its Health Venture subsidiary, Eurazeo reaffirms its commitment to build its leadership in the strategic healthcare sector. Following on from PanTera in September 2024, this new joint participation illustrates the complementarity of skills within the Group which aims to support innovation and the emergence of industrial European leaders in the healthcare sector.

Following on from Kinvent in December 2023 and PanTera in September 2024, Germitec is the third Growth Equity investment by Nov Santé Actions Non Cotées.

Vincent Gardès, CEO of Germitec, declared:

“The Nov Santé and Kurma Partners teams’ expertise is a major asset that will support Germitec in our new development phase. With the obtention of the FDA accreditation, we have accomplished a decisive move that provides us with an exceptional perspective in the United States where there is a market opportunity of 60,000 units. We are confident in our capacity to capture this market thanks to the quality and distinction of our products, as well as the commitment and expertise of our teams.”

Arnaud Vincent, Managing Director – Healthcare at Eurazeo, added:

“We are very proud that Germitec and its historic shareholders have chosen Eurazeo as lead investor. We have been convinced by the company’s expertise, its innovative position, as demonstrated by its FDA accreditation, and the quality of its management. We are delighted to participate in this new phase for Germitec: the roll-out of its solution in the United States. By supporting Germitec, we are contributing to the advancement of healthcare solutions that respond to major challenges in public healthcare with the prevention of nosocomial infections and are supporting French healthcare sovereignty with products that are fabricated on home soil.”

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1 As part of the Eurazeo Global Investor company.
2 The FDA’s De Novo classification process creates, when the technology is not matched by any other, a new classification validating marketing and distribution of medical devices in the US.
3 September 5th, 2024, Germitec’s press release: Germitec’s Chronos® Achieves First-Ever FDA De Novo: A Breakthrough in Infection Prevention.

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EQT introduces EQT Nexus Infrastructure

  • With both institutional and individual investors looking to evergreen strategies for diversification and customization, EQT broadens portfolio with the introduction of EQT Nexus Infrastructure

  • EQT Nexus Infrastructure offers exposure to EQT’s infrastructure strategies, direct investments in infrastructure companies in EQT’s portfolio, and the same distinctive infrastructure investment approach EQT’s institutional clients have benefited from for over fifteen years

  • EQT is one of the world’s largest infrastructure investors – ranked no.5 on the Infrastructure Investor 100 list by capital raised in the last five years – with three dedicated strategies: Value-Add, Active Core, and Transition Infrastructure

EQT has today introduced EQT Nexus Infrastructure (or “the Strategy”), its latest evergreen strategy. EQT has been expanding in the evergreen space since the launch of its first evergreen strategy for individual and institutional investors in 2023, with this introduction reflecting investors’ growing desire to customize their private markets portfolios.

EQT Nexus Infrastructure provides individual and institutional investors access to a diversified suite of infrastructure investment strategies. With experienced, local teams and a network of more than 600 industrial advisors, EQT’s EUR 75 billion global infrastructure business deploys capital through its Value-Add Infrastructure, Active Core Infrastructure, and Transition Infrastructure strategies. The platform identifies and develops high-quality infrastructure businesses that provide essential services to society, thematically sourced within the digital, energy and environmental, transport and logistics, and social infrastructure sectors. Its investments range from transition-related scale-up companies to mature, market-leading infrastructure businesses.

“Expanding our portfolio of evergreen strategies is a key focus for our firm. As we go on this journey, two trends are emerging,” said Peter Beske Nielsen, Partner at EQT. “For one, individual investors want the flexibility to customize their portfolios, which EQT Nexus Infrastructure does by enabling access to our infrastructure strategies through a single fully-funded investment and a single layer of fees. We also believe that institutional investors increasingly desire these benefits, as part of thediversification of their portfolios.”

The EQT Nexus Infrastructure Advisory team will be led by Advisory Head of Fund Strategy William Vettorato, who commented: “We are seeing elevated demand for evergreen infrastructure strategies. EQT Nexus Infrastructure enables individuals and institutions alike to play a role in supporting businesses that offer essential services to society, while benefitting from EQT’s demonstrated approach to investing and relentless focus on performance. We’re excited to unlock this opportunity that addresses the typical barriers to entry, such as high minimum investment period and lengthy lock-ups applicable to close-ended funds.”

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

  1. https://www.infrastructureinvestor.com/infrastructure-investor-100/
  2. As of Q4 2024

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 Nexus Infrastructure will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT

EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR ‌​​269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), 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 more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

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

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Warburg Pincus Announces Over $1 Billion in Capital Deployed by Inaugural Capital Solutions Fund

Warburg Pincus logo

Fund pursues thesis-based investing opportunities in curated structured transactions

New York, NY – February 6th, 2025 – Warburg Pincus, the pioneer of private equity global growth investing, recently surpassed $1 billion in capital deployed by Warburg Pincus Capital Solutions Founders Fund (“WPCS FF”) in 2024. WPCS FF closed in August 2024 with more than $4 billion in commitments, raising over double the initial target. WPCS FF was anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), along with other leading global institutional investors.

“Reaching $1 billion in fund deployment is a significant milestone for WPCS FF and highlights the strong opportunities in strategic structured transactions. By leveraging the sector expertise and sourcing network of Warburg Pincus, our team has capitalized on a wide range of opportunities across the firm’s core sectors,” said Jeff Perlman, CEO, Warburg Pincus. “We are proud of WPCS FF’s success, having provided innovative financing solutions to best-in-class companies and management teams across nine investments to-date, and having already realized one sizeable and highly successful exit,” added Dan Zilberman, Global Head of Capital Solutions, Warburg Pincus.

Hamad Shahwan AlDhaheri, Executive Director of the Private Equities Department at ADIA, said, “Warburg Pincus Capital Solutions is well positioned to identify and execute on attractive opportunities, given the team’s deep sector knowledge and extensive sourcing network. Our anchor investment in the Fund was in recognition of the significant opportunity set for offering structured solutions to strong companies with clear growth strategies.”

The milestone follows WPCS FF’s recent investment in an industrial distribution platform, alongside investments that include DriveCentric, Excelitas Technologies, Mashura, MB2 Dental, MIAX, Nord Security, Service Compression, and United Trust Bank[1].

The global Capital Solutions team is comprised of five seasoned Managing Directors, with an average of 20+ years of investing experience, as well as a large, dedicated team of investment professionals and senior advisors. The team collaborates closely with the firm’s 280 investment professionals and 75+ value creation executives across Warburg Pincus’ global industry verticals, critical to sourcing and underwriting differentiated, attractive investments for the fund.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Contact

Warburg Pincus

Sarah Bloom, Director, Communications

Sarah.bloom@warburgpincus.com

[1] The transaction is subject to customary conditions and approvals.

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Success of friendly public tender offer initiated by Bridgepoint, in association with General Atlantic, management shareholders, for Esker shares

Bridgepoint
  • Boréal Bidco will hold 92.93% of the share capital and at least 92.68% of the voting rights of Esker at the end of the reopened Offer.
  • Settlement-delivery of the reopened Offer on 14 February 2025.
  • Implementation, as announced, of a squeeze-out procedure for the Esker shares.
  • The price per share paid in the context of this squeeze-out will be equal to the Offer price, i.e., €262 per share.

 

Success of the reopened Offer

947,693 shares of Esker were tendered to the public tender offer initiated by Boréal Bidco SAS (“Boréal Bidco” or the “Offeror”) with respect to the Esker shares (the “Offer”), representing 15.57% of the share capital and at least 15.46% of the voting rights of the company, as part of its reopening from 17 January to 30 January 2025.

In total, taking into account the shares tendered to the Offer and the Esker shares assimilated to shares held by the Offeror in accordance with applicable regulations, the holding (effective and assimilated) of Boréal Bidco is of 92.93% of the share capital and at least 92.68% of the voting rights of Esker at the end of the reopened Offer, reflecting the success of the Offer with a post-Offer holding level exceeding the thresholds of 90% of the share capital and voting rights of Esker.

The notice of results (avis de résultat) published by the AMF on 4 February 2025 is available on the AMF website (www.amf-france.org).

The settlement-delivery of the Offer will take place on 14 February 2025.

 

Implementation of a squeeze-out procedure

The conditions required to carry out a squeeze-out being met, the Offeror, in accordance with its intention expressed in the offer document related to the Offer, will soon request the AMF to implement the squeeze-out procedure for the Esker shares it does not hold, which will result in the delisting of the Esker shares from the Euronext Growth Paris market.

The amount of the indemnity paid in the context of the squeeze-out will be equal to the Offer price, i.e., €262 per share, net of all fees.

The trading of the Esker shares has been suspended pending implementation of the squeeze-out.

 

Jean-Michel Bérard, President and Founder of Esker, stated: “We are delighted with the success of this offer, which represents a major milestone in Esker’s history. Alongside Bridgepoint and General Atlantic, we are equipping ourselves to accelerate our development, further innovate, and strengthen our position as a leader in a rapidly expanding market. This partnership, and the delisting of the company, are fully in line with our ambition to better support our clients and to build, together, the future of Esker.”

Emmanuel Olivier, Chief Operating Officer of Esker, stated: “This is a key milestone in Esker’s history and the beginning of a particularly exciting new chapter ahead of us.”

David Nicault, Partner and Head of Technology at Bridgepoint, stated: “We are very pleased with this very high tender rate, which demonstrates the attractiveness of the offer and the relevance of our project. We are thrilled to be able to bring Bridgepoint’s resources and expertise to Esker to support its development plan in the coming years in a rapidly expanding market.”

Vincent-Gaël Baudet, Partner and Head of Bridgepoint Europe in France, stated: “The success of this offer reflects our ability to gain the trust of all stakeholders and to open new development opportunities for Esker and its teams.”

Gabriel Caillaux, Co-President and Head of General Atlantic’s business in EMEA, stated: “We believe Esker possesses a highly differentiated software solution and has the potential to continue expanding its product offering and international footprint. We look forward to partnering with the team as they open this new chapter of growth.”

Information and documentation relating to the Offer are available free of charge on the websites of Esker (www.esker.fr), Bridgepoint (www.bridgepoint.eu/shareholders/Sep-2024-microsite) and the AMF (www.amf-france.org).

Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity, infrastructure and private credit.

With over €67bn of assets under management and a strong local presence in Europe, North America and Asia, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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Coller Capital launches Australia’s first private credit secondaries fund

Coller Capital

ebruary 3, 2025 – Coller Capital, the largest dedicated secondaries manager, has launched Coller Private Credit Secondaries (the Fund) in Australia.

The Fund, the first of its kind in Australia, offers high net worth investors[1] access to Coller’s proven expertise and innovative approach to private credit secondaries.

Partner and Head of Coller Credit Secondaries, Michael Schad said, “This new fund reflects our leadership in developing next-generation investment solutions and is an exciting step in providing individual investors with access to credit secondaries, previously only available to institutional investors. Our pioneering role in credit secondaries since 2007 positions us uniquely to deliver meaningful results for our investors.”

Head of Australia and New Zealand Private Wealth Distribution, David Hallifax added, “Private wealth investors increasingly recognise the value of fixed-income alternatives, and private credit secondaries present a compelling opportunity.

“Australian high net worth investors will now have access to a global platform that combines decades of secondaries expertise with a deep understanding of private credit markets.”

The Fund seeks to deliver a combination of absolute and risk-adjusted returns, diversification, and the opportunity for more liquidity than traditional private credit funds. It will provide private investors with exposure to Coller Capital’s 34 years of secondaries investment expertise and global platform.

Coller Capital continues its strategic expansion into the private wealth market globally, including in Australia. Coller established an office in Melbourne in 2024 and launched the Private Equity Secondaries Fund in Australia for the private wealth channel in October 2024.

 

[1] The offer of units in the Fund is available to wholesale clients as defined in the Corporations Act 2001 (Cth) residing from within Australia and/or New Zealand.

Important disclosure information

Equity Trustees Limited (ABN 46 004 031 298, AFSL 240975) (“Equity Trustees”) is the responsible entity for the Coller Private Credit Secondaries Fund (ARSN 682 162 447) (“Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).

Coller Capital Limited (“Coller Capital”) is the investment manager of the Fund. References to “we”, “us” and “our” are references to Coller Capital.

The offer of units in the Fund is available to wholesale clients as defined in the Corporations Act 2001 (Cth). The offer must only be accessed from within Australia and/or New Zealand. The offer is not being extended to persons who do not meet these criteria, and no action has been taken to register or qualify the offer in any jurisdiction outside Australia and/or New Zealand.

The information on this website has been prepared by Coller Capital. The information is general information and not financial advice, and has been prepared without taking into account the objectives, financial situation or needs of any particular person. You should consider the Product Disclosure Statement for the Fund before making a decision about whether to invest. If you require financial advice that takes into account your personal objectives, financial situation or needs, you should consult a licensed or authorised financial adviser.

Neither Coller Capital nor Equity Trustees, nor any of their respective related parties, employees or directors, represents or warrants that the information contained on this website is accurate or reliable. To the maximum extent permitted by law, no such person shall be liable for loss or damage as a result of reliance on the information contained on this website. The value of an investment can rise and fall and past performance should not be taken as an indicator of future performance.

View the Fund’s Target Market Determination. The Target Market Determination is a document which is required to be made available from 5 October 2021. It describes the class of consumers that the Fund is likely to be appropriate for (i.e. the target market), and any conditions around how the Fund can be distributed to investors. It also describes the events or circumstances that mean the Target Market Determination for the Fund may need to be reviewed.

To view the privacy policy for Equity Trustees visit their website.

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Forbion BioEconomy Fund I surpasses €150 million target, raising €164.5 million with strong institutional LP support

Forbion

Forbion’s BioEconomy Fund I has raised €164.5 million to date, exceeding its €150 million target in just over a year, since launching in November 2023.
• Institutional investors, include KfW Capital, Novo Holdings, Rentenbank, Aurae Impact and most recently ABN AMRO Bank and EIFO
• The fund focuses on biotech-enabled, B2B solutions that deliver sustainability at price parity or better across Food, Agriculture, Materials, and Environmental Technologies.

Naarden, The Netherlands, 27 January 2025 – Forbion, a leading venture capital firm with deep biotech expertise in Europe and the US, announces that its BioEconomy Fund I has raised €164.5 million. This exceeds the fund’s €150 million target, underscoring growing investor interest in the commercial potential of biotech innovations that address global sustainability challenges.

BioEconomy Fund I is supported by top-tier institutional investors, including KfW Capital, Novo Holdings, Rentenbank, and Aurae Impact, alongside new backers ABN AMRO Bank and EIFO. The BioEconomy Fund I anticipates a final close at or close to the hard cap of €200 million, demonstrating the growing confidence in biotech innovations that address global sustainability challenges.

Launched in November 2023, the Forbion BioEconomy Fund I is a planetary health fund that targets business-to-business (B2B) solutions that replace unsustainable products with scalable, cost-effective alternatives. A key pillar of the fund’s strategy is ensuring these innovations achieve price parity with incumbent solutions, enabling wide-scale adoption across the fund’s four target sectors: Food, Agriculture, Materials, and Environmental Technologies industries.

Sander Slootweg, Managing Partner and co-founder of Forbion, stated, “Exceeding €150 million in just over a year reflects the strength of our team and strategy and the confidence our investors have in our ability to execute. Their support for BioEconomy Fund I demonstrates the growing demand for scalable, cost-competitive biotech solutions that deliver both sustainability and strong returns.”

Alex Hoffmann, General Partner, added, “Investors recognize the transformative potential of scalable biotech solutions to meet the needs of industries seeking to adopt sustainable practices. Their support empowers us to help companies scale and deliver meaningful change.”

***ENDS***

About Forbion BioEconomy Fund I
BioEconomy Fund I’s focus on using biotechnology and green chemistry to deliver sustainable B2B solutions in Food, Agriculture, Materials, and Environmental Technologies is best exemplified by its initial investments in Solasta Bio and Novameat. These portfolio companies illustrate Forbion’s commitment to scalable, biotech-enabled innovation. Solasta Bio develops sustainable insect control solutions as alternatives to chemical insecticides, while Novameat advances plant-based meat production with proprietary technology designed for scalability and high-quality texture. By building on Forbion’s expertise in biotechnology, the fund aligns its investments with UN Sustainable Development Goals, including SDG 9 (industry, innovation, and infrastructure), SDG 12 (responsible consumption and production), and SDG 13 (climate action). Forbion BioEconomy Fund I aims to deliver strong financial returns while driving impactful solutions to pressing planetary challenges. Forbion announced the first close of BioEconomy Fund I at €75 million on 20 June 2024.

About Forbion
Forbion is a leading global venture capital firm with deep expertise in Europe and the US with offices in Naarden, The Netherlands, Munich, Germany and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. In addition,Forbion leverages its biotech expertise beyond human health to address ‘planetary health’ challenges through its BioEconomy fund strategy, which invests in companies developing sustainable solutions in food, agriculture, materials, and environmental technologies. Forbion’s team consists of over 30 investment professionals that have built an impressive performance track record since the late nineties with 128 investments across 11 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits. Forbion typically selects impactful investments that will positively affect the health and well-being of people and the planet, as well as meet its financial return objectives. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.

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