Tag Archives: Private debt

CapMan Plc and CAERUS Debt Investments AG enter partnership and launch new investment area CapMan Real Asset Debt

Capman

CapMan Plc and CAERUS Debt Investments AG enter partnership and launch new investment area CapMan Real Asset Debt

CapMan Plc (“CapMan”) and CAERUS Debt Investments AG (“CAERUS”) have today signed an agreement where CapMan acquires 51 per cent of the shares of CAERUS from the company’s current shareholders.

CAERUS is a leading manager for real estate debt investments in Germany and one of the pioneers in the market. With its long presence in the market and strong track-record, CAERUS has demonstrated its expertise in sourcing and selecting attractive investment opportunities for institutional investors. With a team of 12 investment professionals, CAERUS offers tailored real estate debt financing across nearly all real estate segments with a focus on the DACH and Benelux regions. Since its inception in 2014, CAERUS has raised in total EUR 2.6 billion and today has seven active funds, with some EUR 700 million of assets under management.

CapMan is a leading Nordic private asset expert with a focus on real asset investments and an active approach to value creation. CapMan currently has EUR 6.4 billion in assets under management spanning real estate, infrastructure, natural capital and private equity. CapMan has 200 employees across seven offices in the Nordics, London and Luxembourg. The largest investment area, CapMan Real Estate has a team of more than 80 investment professionals and asset managers that manage funds and mandates across value-add and specialised income strategies with total assets under management of EUR 3.5 billion.

With the partnership CapMan establishes a new investment area CapMan Real Asset Debt, which complements the existing real estate, infrastructure and natural capital investment areas and further strengthens CapMan’s focus on real asset investments. The partnership is aligned with CapMan’s growth strategy and supports the strategic objective of reaching EUR 10 billion of assets under management through scaling existing real asset funds, launching new products and targeted acquisitions.

The market for private real asset debt is large and well-established with an attractive growth outlook. Private real estate debt offers competitive solutions for borrowers in complex situations when e.g. bank financing is limited or unavailable. For institutional investors it is an attractive asset class with several benefits such as stable yield, downside protection, diversification and attractive risk adjusted returns.

“This is a significant step for CapMan that further strengthen our focus on real asset investments and expands our presence to Germany. Real asset debt is a natural addition to our existing offering and an area where we see increasing demand and investor interest. I’m impressed with CAERUS’ extensive experience in the area, and excited to join forces with founder and CEO Michael Morgenroth and his team. They have a demonstrated ability to deliver sustainable returns to their investors over the cycles and an entrepreneurial mindset to developing their business. These are values that align with those of CapMan perfectly,” says Pia Kåll, CEO of CapMan.

“The whole CAERUS team is thrilled to partner with CapMan and look forward to this next chapter. CapMan’s platform and strong presence in the Nordics especially within real estate provides us access to asset management resources and local market understanding that offer interesting expansion opportunities. At the same time, we can support CapMan’s investment teams with local knowledge of the DACH and Benelux regions. By pooling our expertise, we are further expanding our market position in continental Europe and enabling our clients to benefit from this stronger market presence,” says Michael Morgenroth, founder and CEO of CAERUS.

At closing of the transaction Michael Morgenroth will be appointed to CapMan’s Management Group as Managing Partner for Real Asset Debt investment area.

The acquisition is expected to be completed during the third quarter of 2025 after customary closing conditions have been fulfilled.

For more information, please contact:

Charlotte Wessman, CapMan Head of Communications, +46 734 290832

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

About CAERUS
CAERUS Debt Investments AG (CAERUS), founded in 2012 and based in Düsseldorf, is the leading independent provider of institutional real estate debt investments in continental Europe. CAERUS is one of the pioneers in the real estate debt market segment and finances real estate projects and transactions in continental Europe with a focus on the DACH region and the Benelux countries. As an investment advisor, CAERUS acts for Luxembourg-based multi-investor funds as well as for individual mandates and offers institutional investors attractive access to real estate debt investments, taking into account their specific regulatory requirements. To date, CAERUS has launched seven real estate debt funds, which have received around EUR 2.6 billion in capital commitments from institutional investors and financed a loan volume of around EUR 2.7 billion. The team’s extensive expertise and many years of experience in the areas of financing and real estate investment make CAERUS a reliable and trustworthy partner for institutional investors and borrowers alike. www.caerus.ag

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HarbourView Closes on $500 Million in Additional Debt Financing from KKR

KKR

NEWARK, N.J., June 9, 2025 /PRNewswire/ — HarbourView Equity Partners (HarbourView), an alternative asset management company focused on investment opportunities in the entertainment, media, and sports space, with approximately *$2.67B in regulatory assets under management, has closed an additional $500 million in debt financing through a new private securitization backed by its diversified, scaled music portfolio. Insurance vehicles managed by KKR, a leading global investment firm, participated in the transaction.

This latest financing expands on the nearly $500 million in debt financing HarbourView secured in 2024 from KKR-managed insurance vehicles and accounts and other investors.

“We are thrilled to have KKR’s continued support as we further scale the firm,” said HarbourView Founder and CEO Sherrese Clarke. “This additional capital from KKR will help us accelerate our strategy to align with where the media, sports and entertainment markets are headed. We see a tremendous opportunity to continue investing in evergreen intellectual property, which we believe is historically uncorrelated to broader market volatility and forms a powerful diversification tool.”

“We are pleased to further support HarbourView and to invest in this well-diversified, scaled and high-quality portfolio through our High-Grade Asset-Based Finance strategy. Music IP is one of many areas of opportunity that we see for this strategy and an example of its breadth,” said Avi Korn and Chris Mellia, Global Co-Heads of Asset-Based Finance at KKR.

KKR’s Asset-Based Finance (ABF) strategy focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets, offering diversification to traditional corporate credit and attractive risk-adjusted returns. KKR’s ABF platform began investing in 2016 and now has approximately $74 billion in ABF assets under management globally across its High-Grade ABF and Opportunistic ABF strategies.

Established in 2021, HarbourView Equity Partners has solidified its position in the industry, building a distinctly diverse portfolio featuring thousands of titles spanning numerous genres, eras, and artists. With data analytics and value creation at its core, the firm seeks to deliver differentiated returns in partnership with the creative ecosystem. The firm has acquired over 70 music catalogs encompassing over 35,000 songs across both master recordings and publishing income streams. The company most recently made a deal to finance a slate of Hip Hop biopics in partnership with Will Smith’s Westbrook Studios, Flavor Unit and Jesse Collins Entertainment, starting with a Queen Latifah biopic. This followed an investment in Usher’s 2024 concert film “Rendezvous in Paris.”

The financing, solely structured by Barclays, further emphasizes HarbourView’s commitment to targeting the best execution for its growing LP base and comes on the heels of numerous major deals.

“Barclays is proud to once again support HarbourView. This deal underscores the strong demand from investors for uncorrelated assets and highlights our track record of supporting music and media companies in accessing efficient, scalable capital,” said Salina Sabri, Managing Director, Securitized Products Origination at Barclays. “We are grateful to play a small role in HarbourView’s continued growth”.

Barclays served as sole structuring advisor in this transaction. Barclays and KKR Capital Markets acted as placement agents, and Fifth Third Bank, National Association as passive placement agent.

About HarbourView Equity Partners

HarbourView Equity Partners is an investment firm focused on opportunities to support premium content across the entertainment, sports, and media markets. The firm seeks businesses or assets powered by IP and investment opportunities that aim to build enduring asset value and returns. HarbourView has been extremely active since launching in 2021, amassing roughly $2.67 billion* in regulatory assets under management including over 70+ music catalogs to date and investments in various portfolio companies with management teams in its core industries. The firm’s distinctly diverse music portfolio features thousands of titles spanning numerous genres, eras, and artists, amounting to a diversified catalog of ~35,000+ songs across both master recordings and publishing income streams. The company is headquartered in Newark, NJ.

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* Unaudited as of 12/31/2024

About KKR

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

About Barclays

Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading global investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients and communities. The Investment Bank helps money managers, financial institutions, governments, supranational organisations and corporate clients manage their funding, investing, financing, and strategic and risk management needs. www.barclays.com/ib.

*Regulatory AUM for private funds are calculated regardless of the nature of the gross assets under management. This includes any uncalled committed capital pursuant to an obligation to make a capital contribution to the fund.

SOURCE HarbourView Equity Partners

 

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Platinum Equity’s Credit Team Leads Refinancing for Impact Climate Technologies

Platinum

Incumbent lender Platinum steps up again with new financing solution to support ICT’s continued growth

LOS ANGELES (April 30, 2025) – Platinum Equity announced today it led a financing for Impact Climate Technologies to refinance its existing indebtedness and support future growth of the business.

ICT is a leading supplier of design-assist engineering and manufacturers’ representation services to the commercial HVAC industry across data center, healthcare, life sciences, education, government, industrial and other commercial end markets.  ICT offers a comprehensive range of HVAC product lines, including custom air handling units, packaged equipment, precision cooling equipment, air distribution, fans, sheet metal products and a variety of other specialty applied equipment and commercial components.

ICT’s operating companies include local firms like Tom Barrow Company (Southeast), RF Peck (upstate NY), H&B Engineered Products (Mid Atlantic), Indiana Thermal Solutions (Midwest), Keller Rivest (Midwest), DMR Associates (Mid Atlantic), Texas Air Products (Texas), Fontanesi & Kann (Midwest), Biogrid (Midwest) and Architectural Building Products (Midwest).

“ICT and Ardian have been excellent partners, and the ICT platform continues to grow. We are enthusiastic to partner with Ardian again and continue supporting their next chapter.”

Jacob Kotzubei and Louis Samson, Co-Presidents, Platinum Equity

In 2023, Platinum Equity provided a loan to Tom Barrow Company in connection with Ardian’s acquisition of a majority stake in the business. Since that time, the company has grown both organically and inorganically, expanded its geographic reach, and deepened its relationship with both vendors and customers.   Platinum Equity’s latest financing sets the stage for ICT’s continued growth in the years to come.

“ICT and Ardian have been excellent partners, and the ICT platform continues to grow,” said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement.  “We are enthusiastic to partner with Ardian again and continue supporting their next chapter.”

The ICT refinancing was led by Platinum Equity’s dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

“As an incumbent lender, we know ICT’s operations, leadership team and industry well and are in a great position to provide a new financing solution to support the company’s continued growth,” said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. “Our aim is to establish meaningful long-term partnerships with borrowers where we can truly add value and continually meet their needs as strategies evolve.”

Platinum’s credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions and debt financings.

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AURELIUS Finance Company | National Timber Group

Aurelius Capital

AURELIUS Finance Company supports National Timber Group with GBP 35m super-senior ABL facility

London, January 14, 2025 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, is pleased to announce the completion of a GBP 35m super-senior asset-based lending facility for National Timber Group (NTG). This complex, highly tailored ABL facility will replace NTG’s existing bank RCF, whilst providing significant incremental liquidity and enhanced flexibility. This will deliver increased working capital to support expected growing demand for timber.

The additional liquidity generated by the facility will increase working capital headroom as the company delivers on its growth plans. During its structuring, the team at AURELIUS Finance Company worked collaboratively with key stakeholders to create a complex and highly bespoke inter-creditor agreement to regulate the facility, alongside the existing term debt.

As is typical for a structure delivered by AURELIUS Finance Company, the facility creates the optimum level of availability by fully funding the working capital collateral base which comprises receivables and inventory across the company’s impressive national footprint.

James Marler, Director and Head of New Business at AURELIUS Finance Company commented:
“This is a landmark transaction for AURELIUS Finance Company as it demonstrates our ability to provide highly bespoke facilities of scale, at pace, for solid mid-market companies navigating complex scenarios. We were impressed by the strength of NTG’s underlying business, the quality of its management team, and by the support it has from its stakeholders. Based on this, we were determined to structure a super-senior facility which would deliver the liquidity and flexibility the business needs to realise its growth ambitions. By listening to the requirements of all key stakeholders, we were also able to tailor a highly bespoke inter-creditor agreement to facilitate the refinancing. As a team, we enjoyed the technical challenges involved in creating this structure, which we can now use to support other businesses facing similar sets of circumstances. We are delighted to welcome National Timber Group to our business.”

Emma Cunningham, CEO of National Timber Group said:
“AURELIUS Finance Company demonstrated clear enthusiasm to partner with us and to provide this financing solution, quickly crafting a term sheet which met all our key objectives from this refinancing exercise. The team then demonstrated the skills needed to meet the technical challenges of this transaction against tight deadlines. We were especially pleased that the facility which was put in place was exactly what had been outlined in the initial term sheet. This ability to deliver on the initial brief is absolutely vital in complex, fast-paced transactions. We look forward to continuing to build on our strong partnership with the AFC team.”

National Timber Group is the largest independent timber distribution and processing group in the UK. The company was formed through the acquisition of market-leading brands Thornbridge, NYTimber, Rembrand Timber and Arnold Laver. It has two main sales channels: timber merchanting and manufacturing. As a result, it serves a diverse customer base including joiners, housebuilders and contractors, and is a preferred supplier for large-scale infrastructure projects. The Group generates an annual turnover of more than GBP 300m, and has over 1,200 employees and 52 processing and distribution sites from the North of Scotland to London and the South West.

AURELIUS Finance Company was advised by Shoosmiths (Legal), and Gordon Brothers (Asset Appraisals).

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