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EQT Infrastructure to acquire Statera, a leading battery storage and flexible generation platform supporting the UK’s renewable energy transition

eqt
  • EQT Infrastructure has agreed to acquire Statera, a UK-based battery storage and flexible generation infrastructure developer and operator with 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes
  • Demand for stability services and dispatchable generation from batteries is expected to grow at speed as a result of rapid deployment of intermittent renewable generation and the gradual decommissioning of thermal capacity
  • EQT Infrastructure is committed to further investing in Statera’s ongoing development of battery storage and other flexible energy projects, which is expected to play an integral part in helping the UK reach its Net Zero targets

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to acquire Statera Energy Limited (“Statera” or the “Company”) from InfraRed Capital Partners.

The UK energy landscape is steadily decarbonizing. In parallel to renewable energy gaining traction and thermal generation being phased out, the sector is experiencing a surge in electrification. Previously fossil fuel-driven areas such as heat and transportation are transitioning to electricity. In this evolving situation, the role of energy storage and flexible generation becomes paramount, ensuring a smooth energy transition and maintaining grid stability. Statera is well-positioned to benefit from and meet the increasing demand in this space.

Established in 2015 and headquartered in London, Statera is a prominent player in the UK’s battery storage and flexible energy generation sector, with a robust development track record. In addition to being an early entrant in the battery space, it recognized the importance of other key flexible technologies, namely pumped hydro and green hydrogen production, which are expected to aid the UK’s transition to a predominantly intermittent renewable energy supply. Statera has 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes, and a total project pipeline of over 16GW, with plans to deliver 7.5GW of flexibility assets by 2030.

EQT Infrastructure will support the Statera management team and platform by providing access to growth capital to accelerate the deployment of flexible generation across the UK. It will also draw upon its significant experience of owning and developing companies that are driving the energy transition, as well as the expertise of its 600-person strong global network of Industrial Advisors.

Francesco Starace, Partner within the EQT Infrastructure Advisory Team, said: “In a world increasingly reliant on intermittent renewables and striving to achieve Net Zero emissions, battery storage and other flexible generation solutions are imperative. Both the public and private sectors must commit time, expertise, and capital to innovative solutions that can expedite the energy transition. The partnership between EQT and Statera is an exciting step towards achieving this goal.”

Tom Vernon, Founder and CEO of Statera, added: “It is essential that flexible generation and energy storage technologies are deployed at scale to enable the vast amounts of renewables required to decarbonize power systems. Statera directly addresses this challenge by developing and operating projects which provide the resilience and flexibility required to balance the grid. InfraRed and the team at Statera have been critical components of our success to date, and I am hugely excited to embark on our next phase of growth, in partnership with EQT. This transaction is a significant milestone, and the scale of EQT’s financial support and global footprint means Statera is well positioned to deliver its pipeline of battery, pumped hydro and green hydrogen technologies.”

Stephane Kofman, Head of Capital Gain Funds at InfraRed Capital Partners, said: “Having identified early on the fundamental need for flexibility and storage, we are very pleased to have worked closely alongside management to create a company that is a now a market leader and is playing a key role in facilitating the UK’s energy transition to a low carbon, high renewables future. Throughout our ownership we have continued to support management in evolving and implementing the company strategy, growing the operational and development asset base, actively mitigating revenue volatility and helping to add key infrastructure capabilities across the organisation.”

The transaction is subject to customary conditions and approvals. It is expected to close around the end of the year.

DC Advisory served as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to EQT Infrastructure.

With this transaction, EQT Infrastructure VI is expected to be 20 – 25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on the target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

 

Contacts
EQT: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Statera: Elizabeth Adams, statera@fticonsulting.com, +44 7974 982331
InfraRed Capital Partners: infrared@brunswickgroup.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management) within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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

About Statera
Statera Energy is a UK-based energy company that develops, owns, and operates flexible generation, battery storage, pumped hydro and green hydrogen projects. These assets will help the UK build more renewable energy, more quickly, by providing the flexible capacity needed to balance the future grid whilst lowering carbon emissions and delivering best value for energy users. Statera has circa 1GW of assets in operation or under construction, plans to deliver 7.5GW of flexibility assets by 2030 and has a total pipeline of over 16GW.

More info: https://stateraenergy.co.uk/

Follow Statera on LinkedIn

About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital(1) for investors around the globe, in listed and private funds across both income and capital gain strategies.

(1) Data as at Q4 2022. Equity Capital is calculated using a 5-year average FX rate

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Eurazeo announces A €22.5M investment in a vessel fort the pan-european logistics leader SAMSKIP

Eurazeo

Eurazeo, through its Asset-based Finance strategy, is pleased to announce its 5th transaction for the Eurazeo Sustainable Maritime Infrastructure (ESMI) fund for an amount of €22.5 million. This investment consists in the financing of the first next-generation zero-emission short sea container vessel, being launched by the Samskip Group. Samskip will eventually produce 2 of such vessels that will serve as important steps towards reaching their sustainability targets and reinforce their goal of reaching Net-Zero by 2040.

The vessel, nicknamed “Samskip SeaShuttle”, is currently under construction at Cochin shipyard in India, and is expected to be delivered to Samskip in H2 2025. Once delivered, this vessel will be one of the world’s first and largest vessels to be propelled with a hydrogen propulsion system. The Samskip SeaShuttle will be fueled by green hydrogen in the ports of Oslo and Rotterdam, gradually integrated in the vessel’s energy mix from 2026 onwards to allow it to be totally carbon neutral from 2030. This will make it one of the world’s greenest vessels ever built, meeting all ESMI’s criteria and exceeding the fund’s targets in terms of GHG emission reduction objectives and credit risk profile as well.

Founded in 1990 in Iceland and headquartered in the Netherlands, Samskip is a logistics company offering transport and services by land, sea, rail and air. Being a European leader in transport and logistics services, the company puts a strong focus on efficient, reliable, and environmentally friendly transport.

 

Sylvain Makaya, Partner – Asset-based, and Guillaume Branco, Investment Director – Asset-based, declared:

“Being able to support an established player like Samskip, with a focus on European intra-trade and logistics activities, constitutes a landmark transaction for our ESMI fund. It is a great opportunity to be a part of such a sustainable vessel project that is expected to be carbon neutral by 2030, hence contributing to the industry’s target to be net zero GHG emissions by 2050. We would like to warmly thank Samskip along with our strategic partners on the ESMI fund: Elbe Financial Solutions who acted as financial & maritime advisor, our origination advisor NRP, Simonsen Vogt Wiig as our legal advisor, and our technical & ESG advisor Bureau Veritas Solutions Marine & Offshore. With this landmark transaction, we are reaching our objective to invest close to 50% of our first ESMI fund by 2023. We expect the ramp-up phase to continue during 2024 with the objective to prepare the second generation of this fund.”

 

Kari-Pekka Laaksonen, Group CEO Samskip, stated:

“The need to accelerate sustainability is paramount in today’s rapidly changing world. Waiting is simply not an option. At Samskip, we feel an ethical responsibility to pioneer for sustainable solutions. Building energy-efficient vessels that use significantly less energy is critical to our future, as there is not enough energy in the world to produce renewable fuel for everything we produce. Therefore, it is truly great that we receive the support of Eurazeo in financing the first Samskip SeaShuttle. We believe we will only be successful when we truly collaborate. The support of Eurazeo is a great example of the kind of collaboration that is needed to make an effective energy transition.

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BPI invests in Aleph Alpha, Europe’s leading provider of sovereign AI foundation models

Burdaprincipal

BPI invests in Aleph Alpha, Europe’s leading provider of sovereign foundation models and AI applications

Burda Principal Investments (BPI), the international growth capital provider of media and technology company Hubert Burda Media, is participating in Aleph Alpha’s Series B financing round. BPI has been monitoring opportunities in Artificial Intelligence (AI) since 2018 and with this investment, BPI adds another AI company to its portfolio.

BPI is part of a consortium of new and existing investors

Aleph Alpha raised more than 500 million US Dollars from a consortium of a total of seven new investors as well as existing investors from previous rounds. The consortium is led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures and the companies of Schwarz Group. Next to BPI, other new investors include the global edge-to-cloud company Hewlett Packard Enterprise, the German multinational enterprise application software company SAP and the Berlin-based Christ&Company Consulting.

Aleph Alpha is a German AI application and research company that has developed a Large Language Model (LLM) called “Luminous”. Both its explainability and its multimodality characterise this model. One of Aleph Alpha’s goals is to make the origin of the information transparent to users and to ensure that partners retain sovereignty over their data. The current investment round is intended to further strengthen the German and European position for the development of value-oriented, sovereign AI. The significant enhancement of the capabilities of LLMs by a European company gives both government agencies and companies the opportunity to build and apply AI in a sovereign environment, as Aleph Alpha combines data protection and security with customisation options.

“As an international growth capital provider, we have been following the global development of AI, and we are convinced that Europe can play a much stronger role in this area. Aleph Alpha has developed one of the few Large Language Models in Europe that can compete with US models, that has reached a relevant scale and has a differentiation that really matters. We are very excited to partner with Aleph Alpha and drive the business forward together with Jonas Andrulis and his team.” Christian Teichmann, CEO at BPI

Aleph Alpha’s goal: to revolutionise AI in Europe

The Heidelberg-based AI company Aleph Alpha was founded in 2019 by Jonas Andrulis and Samuel Weinbach. Aleph Alpha supplies B2B and B2G (Business-to-Government) solutions with explainable and trustworthy AI in fully sovereign applications. The company’s goal is to revolutionise the access and use of artificial general intelligence in Europe. Aleph Alpha researches and develops AI technologies together with strong partners from industry, academia, and government.

On September 7, Aleph Alpha founder and CEO Jonas Andrulis took the stage at Burda’s first DLD AI Summit, together with BPI CEO Christian Teichmann, Adam Bittlingmayer (Modelfront) and Alexander Kudlich (468 Capital). Watch the video of the panel now.

Christian Teichmann, CEO of BPI, and Jonas Andrulis, CEO and founder of Aleph Alpha, together on stage at the DLD Munich 23 in January
© Daniel Grund for DLD / Hubert Burda Media

by Katharina Richter
Senior PR Manager, Hubert Burda Media
katharina.richter@burda.com

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CapMan Hotels II fund and Lapland Hotels expand Finnish Lapland Hotels Oulu

Capman

CapMan Real Estate press release
3.11.2023 at 10:00 AM EET

CapMan Hotels II fund and Lapland Hotels expand Finnish Lapland Hotels Oulu

CapMan Hotels II fund has signed an agreement to acquire the asset “KOY Oulun Kuvernööri” in Oulu city centre, Finland, with the intention of redeveloping the building, currently used as an office, into part of Lapland Hotels Oulu. As a result of the conversion the hotel capacity will be increased by 95 rooms in order to meet the strong market demand.

KOY Oulun Kuvernööri is a five storied office property located in the city centre of Oulu, Finland, with a lettable area of 5,657 m2. The property is part of the same building complex as Lapland Hotels Oulu. CapMan Real Estate plans to carry out a thorough renovation where the building is transformed into a hotel and rented out on a long-term lease agreement to Lapland Hotels Oulu. As part of the renovation the adjacent buildings are connected, creating one larger hotel with 250 rooms and an increased number of restaurants and meeting rooms. Street level areas of the existing hotel will also be partially remodelled. Environmental and sustainability matters are central in the renovation. Once completed, the new asset targets environmental certificate level BREEAM In-Use Very Good.

”The Oulu hotel market is very appealing, and we are delighted to be part of further redeveloping Lapland Hotels Oulu. The planned extension will enable the hotel to increase operational efficiency and answer the strong market demand by growing an already very successful hotel concept”, comments Juhani Erke, Partner at CapMan Real Estate.

”As part of the renovation most rooms will be equipped with ensuite saunas as is central to our concept, the large courtyard will be developed for event use and meeting rooms will be expanded. In connection to this we will also renew parts of the current hotel. All this will create an even more attractive hotel than before. Our collaboration with CapMan, which started in 2017 and currently covers three of our hotels, has been very well-functioning and we are pleased to be kicking off this new redevelopment project with them as our partner”, says Ari Vuorentausta, CEO at Lapland Hotels.

The acquisition is expected to close and the redevelopment to start in one years’ time once required official authorisations have been obtained.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Juhani Erke, Partner, CapMan Real Estate, +358 50 549 5104

Ari Vuorentausta, CEO, Lapland Hotels, +358 400 419 896, ari.vuorentausta@laplandhotels.com

 

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About Travel enterprise Lapland Hotels & Safaris

Travel enterprise Lapland Hotels & Safaris offers northern experiences for all the senses. It consists of Finland’s largest private hotel chain, Lapland Hotels, the largest experience service company in the Nordic countries, Lapland Safaris Group Oy and Lapland Ski Resorts.The Group has approximately 1,700 employees in total.

Lapland Hotels has 19 hotels, more than 2,400 rooms and apartments, as well as over 10,000 restaurant seats around Finland: In Ylläs, Levi, Saariselkä, Rovaniemi, Olos, Luosto, Kilpisjärvi, Pallas, Hetta, Helsinki, Tampere, Oulu and Kuopio.

Lapland Safaris offers unique outdoor activities in five destinations in Lapland: Rovaniemi, Ylläs, Saariselkä, Levi and Luosto.

Lapland Ski Resorts comprises five ski centres located in Ylläs, Luosto, Olos, Pallas and Rovaniemi.

www.laplandhotels.com, https://www.laplandsafaris.com/en/ 

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AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

Stonepeak

 

SINGAPORE & NEW YORK – November 3, 2023 – AGP Sustainable Real Assets (“AGP”), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets.

As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP’s portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data.  The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP’s mission to build real assets that enable a sustainable and net zero emissions future.

Ben Salmon, AGP Partner, commented: “This strategic investment represents a pivotal milestone in AGP’s journey. We are thrilled to be working with such a high caliber partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society’s evolving needs.”

Hajir Naghdy, Senior Managing Director at Stonepeak added: “We look forward to partnering closely with AGP’s management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP’s global energy transition portfolio, logistics and community housing platform in India, and data center joint venture with Stonepeak’s existing portfolio company, Digital Edge, are directly aligned with Stonepeak’s key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak’s Asia infrastructure strategy.”

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, added: “In Stonepeak we have found a unique like-minded partner able to support our energy transition mission across our entire footprint. We are excited to take AMPYR’s decarbonisation contribution to new heights alongside Stonepeak.”

The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.

Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.

About AGP Sustainable Real Assets

Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital.  AGP’s mandate is to promote real assets that generate positive impact for people and the environment, by focusing on ‘Sustainable Real Assets’: transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacenter capacity, and 20msqft of community housing. For more information, please visit  www.agpgroup.com and www.ampyrenergy.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Contacts

AGP Sustainable Real Assets

CHIA Hui Kheng
Citigate Dewe Rogerson
huikheng.chia@citigatedewerogerson.com
+65 6589 2361

Stonepeak

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

 

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Main announces majority investment in LuxSci

Main Capital Partners

Main announces a majority investment in Lux Scientiae, Incorporated (‘LuxSci’), a leading provider of healthcare-focused secure communications and secure hosting solutions.

The investment reflects Main’s commitment to the healthcare market and desire to build robust, international software groups.

Founded in 1999, LuxSci is a leading American provider of HIPAA-compliant secure communications and secure hosting solutions. LuxSci’s application and infrastructure software enables organizations to securely deliver personalized sensitive data at scale. Certified by HITRUST to support customers with HIPAA compliance requirements, LuxSci serves dozens of healthcare enterprises and hundreds of middle-market organizations. Customers include providers, healthcare IT firms, medical device manufacturers, and companies active in other highly regulated industries. Notable customers include 1-800 Contacts, athenahealth, Beth Israel Lahey Health, and Delta Dental.

With the strategic support of Main, LuxSci will strengthen its market position and its capabilities to meet the complex needs of modern healthcare organizations. In addition to fostering organic growth in the North American market, LuxSci and Main will explore opportunities for strategic acquisitions to expand the product portfolio and accelerate internationalization.

Erik Kangas (PhD), Founder & CEO of LuxSci, expressed his enthusiasm for the partnership, stating: “Having led LuxSci through 23 profitable bootstrapped years, I am extremely excited to partner with Main. Their resources and expertise will enable us to expand our technology and deepen our market penetration at a time when the demand for high-security communications solutions has never been greater.”

Jeanne Fama (PhD, MBA), COO & CSO of LuxSci, adds: “We are excited about the partnership’s potential to increase the awareness and adoption of LuxSci’s communication solutions and potentiate their impact in healthcare organizations seeking to improve clinical and business outcomes and increase patient satisfaction and loyalty.”

Main has demonstrated strong performance in both the healthcare and security markets, evidenced by investments such as Enovation (connected care solutions with over 350 employees across Europe) and Pointsharp (security and identity access management software with over 200 employees in Northwestern Europe). Main will leverage its experience and network in these markets to support LuxSci in its continued growth.

Daan Visscher, Co-Head of Main Capital North America, concludes: “We are thrilled to partner with the LuxSci team in spearheading the company’s next phase of growth. We are impressed by LuxSci’s double-digit recurring revenue growth, the underlying product, the management team’s capabilities, and the unwavering commitment to customers. We see ample opportunities to drive value through honing operational excellence, accelerating organic growth, and executing select strategic acquisitions. The result will be a robust, international software group positioned to meet the evolving needs of healthcare organizations.”

We are thrilled to partner with the LuxSci team in spearheading the company’s next phase of growth.

– Daan Visscher, Co-Head of Main Capital North America at Main Capital Partners

About

LuxSci

  • Healthcare

LuxSci is a leading provider of highly scalable secure communications and secure hosting solutions. Certified by HITRUST, LuxSci helps organizations navigate complex HIPAA regulations and safeguard sensitive data. LuxSci serves nearly 2,000 customers across healthcare and other highly regulated industries.

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Apollo to Provide €1 Billion Capital Solution to Vonovia in Second Transaction

Apollo logo

NEW YORK, Nov. 03, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into agreements for Apollo-managed insurance affiliates, funds and other long-term investors to invest €1 billion into an entity owning a portfolio of high-quality real estate assets in Northern Germany controlled by Vonovia, a leading global residential real estate company with assets of approximately $100 billion. This commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.

Apollo Partner Jamshid Ehsani said, “We are pleased to broaden our partnership and provide another scaled capital solution to Vonovia by investing in a portfolio of high-quality, high-demand residential real estate assets creating attractive investment opportunities for our insurance platforms, funds and clients. This cost effective solution supports the capital plan of one of Europe’s leading real estate companies and demonstrates once more how Apollo is increasingly acting as a leading capital solutions provider to large global corporations active in many industry sectors, including Real Estate, Aviation, TMT, Consumer, Utilities, Transportation and Pharmaceuticals.”

For Apollo, the transaction will allow its insurance and institutional clients to access an attractive investment opportunity backed by high-quality assets with resilient cashflow characteristics. The Northern Germany portfolio includes approximately 31,000 high-occupancy units valued by Vonovia at €3.8 billion. Proceeds from the investment support Vonovia’s capital allocation plans, including repayment of certain of its financial liabilities.

Since 2022, under its high grade alpha strategy, Apollo originated approximately $30 billion of bespoke, capital solutions for leading global companies seeking to optimize and strengthen their balance sheets. Apollo believes it is uniquely positioned to serve the needs of large IG corporates and retirement services companies alike, given the firm’s structuring, investment and syndication capabilities and scaled, lower cost capital base.

The latest Vonovia portfolio investment is subject to the satisfaction of closing conditions, including regulatory clearances, and is expected to be completed by year-end. Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solutions provided structuring and syndication services in connection with the transaction. J.P. Morgan is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

 


Primary Logo

Source: Apollo Global Management, Inc.

Released November 3, 2023

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Apollo Infrastructure Funds Acquire Majority Stake in Modern Aviation

Apollo logo

Tiger Infrastructure Partners and Modern Aviation Management to Reinvest as Part of Transaction

NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO), Tiger Infrastructure Partners (“Tiger”) and Modern Aviation (the “Company” or “Modern”) today announced that they have entered into a definitive agreement for Apollo-managed infrastructure funds (the “Apollo Funds”) to acquire a majority stake in Modern Aviation, a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America. Tiger Infrastructure Partners, which currently owns Modern Aviation, and the Company’s management team will each reinvest alongside the Apollo Funds. Together, these investments will significantly bolster Modern Aviation’s shareholder base to support future strategic growth initiatives.

Founded in 2018, Modern Aviation has grown to become one of the preeminent national networks of premium FBO properties. The Company, led by CEO Mark Carmen and a highly experienced management team, operates a strategically curated portfolio of 16 sites today and serves a diversified customer base across various aviation segments.

Apollo Partner Dave Cohen said, “We are excited for Apollo funds to acquire Modern Aviation, working with Tiger, Mark and the entire team to support the business in its next phase of growth. Modern Aviation is known for its excellent client service and has built a strong infrastructure network with clear growth prospects across new and existing locations. We look forward to leveraging our deep experience investing in infrastructure and aviation assets to help the Company execute on its strategic plans.”

Modern Aviation CEO Mark Carmen said, “We are thrilled to be partnering with the Apollo team and we appreciate Tiger’s continued support as they have been with us since Modern was just an idea. Together, we are committed to executing Modern’s strategy of supporting our customers in a safe environment, investing in our 16 existing locations and growing our network. I’d like to thank all of our Modern Aviation team members, whose steadfast dedication to customer service and safety drive our success.”

Tiger Senior Managing Director Adam Emmert said: “We’ve been pleased to work collaboratively with the Modern management team for over six years. In the early years, the senior team co-located with us in our New York offices as we worked closely to launch the Modern platform. It has been rewarding for us to help Modern grow from a small team with a single location into one of the leaders in the U.S. FBO industry. We are excited to continue our productive collaboration with Mark, Dan, Emmanuel and the rest of the Modern team with our new partners at Apollo.”

The acquisition will be the latest investment for Apollo’s growing infrastructure franchise, which brings the scale, expertise and capital markets capabilities of Apollo’s investment platform to the middle market. The team focuses on mid-market businesses and assets, and key investment themes include the global energy transition, digital infrastructure, global supply chain and sustainable living. Across its platform, Apollo Funds and affiliated entities have deployed more than $12 billion into aviation industry investments.

The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close by year-end. Financial terms were not disclosed.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Apollo Funds. Winston & Strawn LLP and Lowenstein Sandler LLP acted as legal counsel and Harris Williams served as financial advisor to Tiger and Modern Aviation.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality, and industry leading safety. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Tiger Infrastructure Partners Contacts
Nyssa Kourakos
NK Strategies
(917) 364-5531
nyssa@nkstrategies.com

Modern Aviation Contacts

Emmanuel Yapo
Executive Vice President
Modern Aviation
eyapo@modern-aviation.com


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Source: Apollo Global Management, Inc.

Released November 2, 2023

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Clearlake Capital-backed Srpings Window Fashions names industry veteran Jason Bingham as President and Ceo

Clearlake

Bingham to build on Springs’ mission to drive growth and innovation in window treatments and related connected home technologies

 

Middleton, WI, and Santa Monica, CA – November 2, 2023 – Springs Window Fashions (“Springs” or the “Company”), a global provider of custom window treatments and connected home technologies backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced that Trane Technologies (NYSE: TT) executive and building products veteran Jason Bingham has been named President and Chief Executive Officer (“CEO”). He succeeds former President and CEO Eric Jungbluth, who announced his retirement and who will continue to serve on the Company’s Board of Directors as an advisor to Clearlake and Springs.

 

With over 30 years of leadership experience in the residential and commercial building products categories, Mr. Bingham was most recently President of the Residential HVAC & Supply business for Trane Technologies. During his tenure, Mr. Bingham took on progressively more significant leadership responsibilities, including Strategy Leader for Trane North America and Vice President of Digital and Energy Services for the commercial business in North America and Europe.

 

“Jason is a leader with a track record of success and an ability to drive growth and innovation,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. “Springs has continued to execute on Clearlake’s O.P.S.® playbook, growing both organically and through M&A, and we look forward to partnering with Jason to drive continued expansion of the business.”

 

“I believe Eric and the Springs team have delivered a great customer experience while building this business, and Clearlake’s operational knowledge, network and resources will continue to support Springs as it enters its next phase of growth. It is exciting for me to work together with both of these teams,” said Mr. Bingham.

 

“We are delighted to welcome Jason to the Clearlake family, and want to thank Eric for his dedication and service to Springs. We wish Eric the best in his decision to retire and look forward to his continued contributions to our future success as a member of the Board,” said Nate Mejías, Principal at Clearlake.

 

“I am proud of the global platform we have built with people that I believe are some of the best employees in the industry,” said Mr. Jungbluth. “Springs is just getting started in its growth trajectory, and I am excited to watch Jason pioneer new growth vectors and innovative solutions to expand our core business lines.”

 

ABOUT SPRINGS WINDOW FASHIONS

Springs Window Fashions, the Best Experience Company, is a leading global supplier of blinds, shades, specialty treatments and window hardware. Its Bali®, Graber®, Horizons®, SWFcontract™, Mecho™, Mariak™, SunSetter™, and Sunburst® brands are sold through retailers, dealers and distributors within North America.  In Europe, the company manufactures and sells products through its B&C International division. Based in Middleton, WI, Springs has facilities worldwide and employs more than 9,000 associates. For more information, visit www.springswindowfashions.com.

 

ABOUT CLEARLAKE

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland and Singapore. More information is available at www.clearlake.com and on Twitter @Clearlake.

Media Contacts
For Springs Window Fashions:

Mower

Jenna Bush

212.284.9936

jbush@mower.com

 

Alison Boghosian

860.922.3887

aboghosian@mower.com

 

For Clearlake:

Lambert

Jennifer Hurson

845.507.0571

jhurson@lambert.com

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819 Evergreen Fund I Coöperatief U.A. is live!

Recently we launched 819 Evergreen Fund I Coöperatief U.A. (“819 Evergreen Fund” or “the Fund”).

 

819 Evergreen Fund is incorporated to enable sustainable value creation in essential sectors, such as healthcare, by investing in key enabling technologies (deep tech).

The Fund’s predecessor is Lumana Invest. Since the transition to 819 Evergreen Fund last period, we have already welcomed our first new investors to the Fund.

819 Evergreen Fund has an open-ended structure. The Fund invests in start-ups and scale-ups and has a focus on minority interest. The Fund currently has 8 active portfolio investments.

The Fund is a collective investment undertaking (beleggingsinstelling) within the meaning of section 1:1 of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) (“FMSA”). The Fund and its Manager (819 Capital Partners) are registered with the AFM in accordance with section 2:66a of the FMSA (AFM Fund ID: 50033383).

Zuidbroek assisted in setting up the Fund.

Feel free to contact us for more information.

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