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Digital Edge DC raises over US$1.6 billion in new equity and debt capital to fund continued platform expansion

Stonepeak

SINGAPORE, 6 January 2025 – Digital Edge (Singapore) Holdings Pte Ltd. (“Digital Edge”), a leading developer and operator of interconnection and hyperscale edge data centers across Asia and portfolio company of Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced it has raised over US$1.6 billion in new capital through a combination of equity and debt financing to fuel its next phase of growth.

The capital raise includes approximately $640 million of equity investment from both existing and new investors as well as $1 billion of total debt financing across multiple campus expansions. The equity raise was significantly oversubscribed, and welcomes some of the world’s largest institutional investors and sovereign wealth funds as new co-investors.

The growth capital will accelerate Digital Edge’s expansion to meet the increasing and nuanced cloud and AI demands of its customers across the region. Digital Edge was established in early 2020 and now owns and operates 21 data centers with over 500 MW of critical IT load in service and under construction and development, with another 300 MW held for future development, across strategic locations in Japan, Korea, India, Malaysia, Indonesia, and the Philippines.

This past October, Digital Edge opened its third data center in Korea, known as SEL2. The 36MW SEL2 facility is the first building in its 100MW Incheon campus in Seoul. This followed the expansion of Digital Edge’s Jakarta footprint with the opening of its 23MW EDGE2 facility earlier in the year. Looking forward, Digital Edge is set to open the first facility in its 300MW campus in Navi Mumbai in Q2 of 2025, as well as a hyperscale edge facility in downtown Tokyo known as TY07, its ninth data center facility in Japan.

“The level of interest received from existing and new investors is testament to Digital Edge’s proven track record, expansion capacity, and relentless focus on delivering for our customers across the Asia Pacific region,” said Andrew Thomas, Chairman of Digital Edge and a Senior Managing Director at Stonepeak. “Since making the founding investment in Digital Edge in 2020, Stonepeak has been proud to support the platform’s expansion into six countries and a truly pan-APAC footprint.”

Samuel Lee, Chief Executive Officer of Digital Edge commented, “This is a major milestone for Digital Edge and an affirmation of the quality of this platform and our team. We are very proud of what we have achieved and are excited to deliver on the next phase of AI-ready data center developments.”

“We would like to thank our investors and financing partners for their continued support and confidence in Digital Edge’s strategy,” said John Freeman, President of Digital Edge. “This efficient and flexible funding will accelerate the continued execution of our vision, enabling us to further build-out our digital infrastructure to better meet our customers’ cloud, AI, and interconnection requirements.”

About Digital Edge

Headquartered in Singapore, Digital Edge is a trusted and forward-looking data center platform company, established to transform digital infrastructure in Asia. Through building and operating state-of-the-art, energy-efficient data centers rich with connectivity options, Digital Edge aims to bring new colocation and interconnect options to the Asian market, making infrastructure deployment in the region easy, efficient and economical.

Backed by leading alternative investment firm Stonepeak, Digital Edge has established itself as a market-leading pan-Asia data center platform. The company provides data center and fiber services across Asia, with a presence in Japan, Korea, India, Malaysia, Indonesia and the Philippines. You can visit the company’s website at www.digitaledgedc.com.

Media Contacts

Digital Edge
Dina Yang, Associate Director Corporate Communications
dina.yang@digitaledgedc.com
+82 10 9874 2655

Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

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Bart Price appointed Chief Executive Officer of Lendlease-Warburg Pincus life sciences, R&D and innovation joint venture

Warburg Pincus logo

The JV platform, with S$2 billion of assets under management, aims to capitalize on the attractive opportunities in APAC’s life sciences, R&D and innovation sector

Singapore, January 2, 2025 – Warburg Pincus and Lendlease are pleased to announce the appointment of Bart Price as Chief Executive Officer (CEO) of their life sciences, R&D and innovation real estate joint venture platform, effective immediately. Bart, who is based in Singapore, will oversee the platform’s strategic growth plans, identifying opportunities to further scale the platform and generate outsized returns for its investment partners.

Bart brings with him extensive experience and wide-spanning industry relationships, built over his two decades of career experience in real estate / infrastructure investments and capital markets across multiple markets in Asia Pacific. Prior to this appointment, Bart was most recently Head of Growth Markets Real Assets at the Abu Dhabi Investment Council (ADIC), where he oversaw Asia Pacific real estate and Asia Pacific / Latin American infrastructure.  Prior to joining ADIC, he held the position of Senior Vice President for Real Estate Investments covering Asia Pacific at GIC for six years.

Established in July 2024, the joint venture between Warburg Pincus, a pioneer of global growth investing, and Lendlease, a market-leading Australian integrated real estate group, is the industry-leading life sciences, R&D and innovation real estate platform in the Asia Pacific with over S$2 billion of assets under management. The platform, alongside its managed investment vehicle LINO, acquired a ~S$1.6b portfolio of assets in Singapore in August 2024, marking one of the largest private portfolio transactions for industrial assets in the country.

As the largest pan Asia Pacific pure-play real estate investment platform for life sciences, R&D and innovation, the platform is well-positioned to capture the strong growth of the sector in the region. It combines a high barrier-to-entry life sciences project and construction management business, with a specialized investment management business backed by sophisticated institutional investors. Leveraging the proven track records and extensive network of resources and relationships of both Warburg Pincus and Lendlease, the platform is committed to generating high-performance returns for its investors.

Bart Price, CEO of the life sciences, R&D and innovation real estate joint venture said,“It is a privilege to be appointed as CEO of Asia Pacific’s industry-leading life sciences, R&D and innovation real estate platform. The platform has deep relationships and a differentiated capability in the sector, with the platform (through its prior history within Lendlease) having worked on more than 200 projects for over 100 life sciences and pharmaceutical companies over the past 20 years. In addition, the platform’s investment management business has delivered strong returns for its investors.

“The Asia Pacific life sciences and R&D industry is gaining significant momentum, underpinned by multiple tailwinds such as demographic shifts, increasing healthcare demand, growing wealth, supply chain realignment and strong government support driving robust demand for facilities. I believe there are tremendous opportunities to grow the platform and deliver outsized returns to investors. I look forward to working with the team to execute on our strategy, as we build on the solid foundation established by Lendlease and Warburg Pincus.”

Justin Gabbani, CEO, Investment Management, Lendlease said,“I am pleased to welcome Bart as CEO, following a comprehensive search.  Bart has over 20 years of experience and leadership in real estate, having led real asset transactions valued at more than US$20b across multiple markets in Asia Pacific and across multiple formats. His expertise in the region and deep understanding of real estate are invaluable as we look to build momentum and further scale the business.”

Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus said,”We are excited to have Bart to spearhead our joint venture with Lendlease. Bart’s wealth of experience and proven track record in the industry, make him the ideal leader to drive the joint venture’s growth. His strategic vision and leadership will be instrumental in advancing our commitment to building a leading real estate platform in Asia Pacific to focus on life sciences, R&D and innovation, and delivering exceptional value to our stakeholders. We look forward to a successful partnership ahead.”

About Lendlease

Lendlease is a market-leading Australian integrated real estate group. Headquartered in Sydney, we are listed on the Australian Securities Exchange. Our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers. For more information, please visit: www.lendlease.com

About Warburg Pincus

Warburg Pincus LLC is the pioneer of 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.

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Rivean Capital to become major shareholder in Valcon

Rivean
  • Leading European transformation consultancy to partner with PE firm

Utrecht: Valcon, a leading European digital transformation service provider specialising in data, consulting and technology, is delighted to announce its partnership with Rivean Capital, a pioneer in European mid-market private equity, who will acquire a majority stake, subject to ACM approval (the Netherlands Authority for Consumers and Markets) and the advisory process with Valcon’s Dutch works council. This strategic collaboration is set to accelerate Valcon’s growth and the firm’s ability to help organisations across Europe achieve transformative business outcomes.

Rivean Capital’s investment underscores its confidence in Valcon’s ability to drive impactful transformation across different industries and will support Valcon to further expand its services, invest in cutting-edge solutions and strengthen its position as a trusted partner for organisations navigating complex business challenges. Rivean Capital will replace Waterland as the existing majority investor, with the latter continuing to invest as a minority shareholder.

Geert van den Goor, CEO of Valcon, commented: “We are thrilled to join forces with Rivean Capital in this exciting new chapter for Valcon. This partnership marks a significant milestone in our journey to become the benchmark for digital transformation in Europe. With Rivean’s support, we are well-positioned to amplify our impact and achieve our ambitious goals for organic and acquisitive growth. And Waterland’s re-investment as a minority shareholder is a testament to its continued belief in our business.”

Hidde Vedder, Partner at Rivean Capital, said: “We are delighted with the opportunity to partner with Valcon’s management team and contribute to Valcon’s further expansion in NorthWestern Europe. Valcon has a great reputation for delivering transformative results for its clients and we are excited to be working with them to provide support to further scale their operations and unlock new opportunities in the European market.”

Wouter Roduner, Managing Partner at Waterland, commented: “It’s been a great journey partnering with the Valcon team. The team has consistently delivered growth – it is always looking to develop its capabilities, such as the addition of AI, to meet client needs. Waterland is therefore committed to continue to support Valcon on the next stage of its growth cycle.”

—

Editors’ notes

About Valcon
Valcon is a digital transformation service provider which is the trusted partner for European enterprises to enable their competitive edge for tomorrow. Its 1600 skilled professionals have expertise in creating value for its clients by by providing profound data, business transformation and technology capabilities. Valcon works with large organisations across multiple industries, including financial services, retail, public, industrials and infrastructure. For more information, please visit www.valcon.com

About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the DACH region, Benelux and Italy. Rivean Capital has assets under management in excess of €5bn and offices in Amsterdam, Brussels, Frankfurt, Zug and Milan. Since its inception in 1982, Rivean Capital has supported more than 250 companies in realizing their growth ambitions. For more information, please visit www.riveancapital.com

About Waterland
Waterland is an independent private equity investment company that supports companies in realizing their growth plans. With substantial financial resources and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland operates out of 13 offices across Europe and currently has approximately EUR 14 billion in equity funds. For more information, please visit www.waterlandpe.com

Contacts

Valcon
Lucy Clark
Lucy.clark@valcon.com
+44 (0) 7984184461

Rivean Capital
Maikel Wieland (Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30

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Velliv transfers the management of Core Sustainability Capital to Polaris

Polaris

Velliv and Polaris have entered into an agreement under which Polaris will take over the management of investments and activities in Danish management company Core Sustainability Capital, which was established by Velliv to promote sustainable development through investment in and lending to Nordic companies within renewable energy and energy optimisation, resource efficiency and social balance.

Velliv’s investments through Core Sustainability Capital have been made partly as minority equity investments and partly as sustainability-related financing.

As part of the agreement, Polaris takes over the management of these investments. Polaris will leverage the firm’s comprehensive experience from Polaris Private Equity and Polaris Flexible Capital, deep competencies within sustainability and tools from Polaris’ Excellence Model as well as a strong shared administration platform.

“We are pleased to have entered into an agreement for the management of activities in Core Sustainability Capital with Velliv, which is already an important investor in Polaris. We have created a strong shared platform for our three existing investment strategies in Polaris and thus have the competencies and resources to, jointly with Velliv, develop the four investments made through Core Sustainability Capital. In Polaris, we see this agreement as a unique opportunity to strengthen our already good competencies within sustainability and form even closer attachments to Velliv to expand our long-term partnership around investments in the Nordics,” says Jan Johan Kühl, Managing Partner at Polaris.

Velliv transfers the management of Core Sustainability Capital to Polaris as part of the pension company’s new investment strategy, which is based on simplicity and professional competence in investment processes to focus on core competencies and strategic partnerships. This is aimed at securing returns at the top of the market across Velliv’s range of savings products.

”We are convinced that Polaris has the right team to carry on the good line of thinking behind Core Sustainability Capital, and we are delighted to have chosen a partner with great ambitions and competencies within sustainability. There were other potential buyers in the running, but the choice fell on Polaris, who we know well already through many years of cooperation, and who have delivered good results. We are now strengthening this cooperation further,” says Thor Schultz Christensen, Deputy Chief Investment Officer at Velliv. The agreement is subject to customary closing conditions, and the transfer is expected to be completed in early 2025. The parties have agreed not to disclose additional details about the agreement. For further information: Mikkel Bro Petersen, Head of Media Relations, Velliv, tel. +45 24 83 86 30 Jan Johan Kühl, Managing Partner, Polaris, tel. +45 23 25 32 66 Malmøgade 3 DK-2100 Copenhagen Tel (+45) 3526 3574 polaris@polarisequity.dk 1

About Velliv Velliv offers pension plans to both private individuals and companies and is, with more than 420,000 customers, Denmark’s third largest commercial pension company. All our customers are co-owners of Velliv through their automatic membership of Velliv Foreningen (The Velliv Association), which owns the pension company. Read more at www.velliv.dk

About Polaris Polaris is a Nordic investment company based in Copenhagen, which invests in and provides capital to well-established medium-sized companies in the Nordics. Polaris has three investment strategies: Polaris Private Equity, Polaris Flexible Capital, and Polaris Public Equity. Since 1998, Polaris has raised seven funds and secured more than DKK 15 billion in capital commitments, focusing on companies with growth and development potential. To date, Polaris Private Equity has invested in more than 60 companies along with more than 100 add-on investments in portfolio companies. Polaris has active investments in 27 companies across the three investment strategies. Learn more at www.polarisequity.dk

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EQT to Exit Indian Renewable Energy Platform O2 Power

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eqt

EQT and Temasek to sell O2 Power to JSW Neo Energy for USD 1.5 billion.

O2 Power was established as a new company in 2020 by EQT and Temasek and has since grown to become a leading player in India’s renewable energy sector, achieving 4.7 gigawatt of total capacity.

O2 Power represents EQT’s first infrastructure investment in Asia Pacific, as well as EQT’s first infrastructure exit in the region.

EQT Infrastructure IV (“EQT”) and Temasek today announced the 100% sale of O2 Power (the “Company”) to JSW Neo Energy, a wholly owned subsidiary of JSW Energy, for USD 1.5 billion. Established as a new company in 2020 by EQT and Temasek, both organizations have worked to build and support O2 Power from a greenfield renewables start-up, into one of India’s largest renewable energy platforms, specializing in utility-scale projects across solar, wind and hybrid energy technologies. Headquartered in Gurgaon, India, the Company has secured a total capacity of 4.7 gigawatt since its inception, with 2.3 gigawatt expected to be operational by June 2025.

The Company was built around robust governance structures, operational processes and scalable systems, alongside a diverse board with both global and local expertise. This laid the foundation for growth while upholding transparency and accountability.

Under EQT and Temasek’s ownership, O2 Power successfully diversified into solar, wind, hybrid technologies and adjacent battery energy storage solutions. The Company also expanded its presence serving both the public utility and Commercial & Industrial segments, securing its position as a leader in India’s renewable energy market.

As a result, since its inception, O2 Power has grown from a team of experienced co-founders into a professional organization with over 300 employees. In addition to deep project lifecycle expertise, the Company established robust central functions in finance, compliance, HR and other key areas to position itself for long-term success. Despite the challenges posed by the COVID-19 pandemic, the Company demonstrated resilience and strategic agility, achieving continued growth through disciplined expansion and targeted acquisitions.

The transaction marks a significant milestone for EQT in Asia Pacific, as O2 Power was EQT’s first infrastructure investment in the region, and it is now the firm’s first infrastructure exit. O2 Power aligns with EQT’s thematic investment focus on energy transition infrastructure, including renewable platforms. India’s renewable energy market remains one of the fastest-growing globally, driven by the government’s ambitious targets of achieving 500 gigawatts of installed renewable capacity by 2030. O2 Power’s track record and strategic positioning equip it to continue contributing meaningfully to a cleaner and more sustainable energy future for the country.

Piyush Singhvi, Managing Director and Head of India & Southeast Asia for the EQT Infrastructure advisory team, said, “India is one of the most exciting renewable energy markets globally, and O2 Power has been playing a key role in advancing its clean energy transition. We are proud to have been part of this pivotal effort. O2 Power’s success as a scaled and diversified renewable energy platform is a true testament to the power of disciplined governance, strategic innovation, and a shared vision for a greener future. Under Parag’s exceptional leadership, O2 Power has built a strong platform that will further thrive with JSW Neo Energy’s support. We look forward to seeing it continue to drive the energy transition in India and a cleaner, more sustainable future.”

Parag Sharma, CEO of O2 Power, said, “This transaction marks an exciting new chapter for O2 Power. I want to thank our incredible team, especially the site teams, whose dedication has been critical to our success. We remain committed to providing our team with continuing opportunities for growth as we work to commission incremental capacity and expand our pipeline. We are deeply grateful to EQT and Temasek for their support in establishing O2 Power as a leader in India’s renewable energy sector. With the backing of JSW Neo Energy, we aim to build India’s most impactful renewable energy business, solidifying our position as a market leader while driving the nation’s renewable energy goals.”

Barclays served as financial advisor to EQT and Temasek, and A&O Shearman served as legal advisor to EQT and Temasek.

EQT Contact
EQT Press Office, press@eqtpartners.com

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), divided into 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, X, YouTube and Instagram

About Temasek
Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$389 billion (US$288b) as at 31 March 2024. Operating on commercial principles, it seeks to deliver sustainable returns over the long term. Temasek has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.

More info: www.temasek.com.sg

About O2 Power
O2 Power is a leading renewable energy company in India with expertise in wind and solar energy across both utility-scale and C&I segments. The company holds an extensive portfolio of both commissioned and under development capacity. Operating across eight states, O2 Power leverages innovative energy solutioning and strong execution capabilities to drive India’s transition to sustainable energy.

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Report of the Extraordinary General Shareholders’ Meeting

GIMV
Corporate

Today Gimv held an Extraordinary General Meeting (EGM). With 39.27% of the shares represented (11,236,416 shares), the required attendance quorum was not reached. A new EGM will take place on January 13, 2025.

An EGM of Gimv that was convened on November 21, 2024 was held today to deliberate on a possible capital increase to support the acceleration of Gimv’s strategic growth and further maximize value creation.

With 11,236,416 shares or 39.27% of the capital present or represented, the required attendance quorum of 50% of the capital was not reached.

A second EGM will take place on Monday, January 13, 2025 with the same agenda and will be able to validly deliberate and resolve regardless of the number of shares present or represented.

Today Gimv published the convening notice for this second EGM on its website:

https://www.gimv.com/en/investors/shareholder-meetings

Categories: News

European Energy and Novo Holdings announce joint venture to triple renewable energy capacity of German onshore wind parks

Novo Holdings

A partnership between Novo Holdings and European Energy will repower 17 operational wind parks in Germany with new and more efficient wind turbines.

Photo: European Energy

The respective wind parks went operational between 2002 and 2008, and since then, significant advances have been made in wind turbine technology, resulting in more efficient, higher-capacity turbines that can generate substantially more energy from the same wind resources.

Novo Holdings and European Energy aim to replace these outdated wind turbines in the 17 German wind parks with modern turbines capable of generating significantly more renewable energy.

Currently, the wind parks have a combined capacity of 151.9 MW, which is expected to more than triple following repowering. Once operational, the updated wind parks are projected to generate over 1,100 GWh of electricity annually – equivalent to the energy consumption of around 290,000 European households.

The projects have already secured most rights and are in advanced stages of development. They are expected to achieve ready-to-build status between 2025 and 2027 and are forecast to become operational between 2027 and 2030.

Novo Holdings and European Energy have previously partnered in 2021, when they launched a collaboration with Sampension to develop solar and wind farms in Denmark and Sweden. The partnership focuses on purchasing land for renewable energy projects while exploring ways to combine energy production with biodiversity and climate benefits.

The new repowering projects in Germany mark a continuation of this collaboration, reinforcing a shared commitment to drive the energy transition and thereby contributing to a more sustainable future.

Jens Peter Zink, Deputy CEO of European Energy, said: “We are delighted to expand our excellent collaboration with Novo Holdings on so many renewable energy projects in Germany. With the increasing demand for electricity driven by the electrification of German society, it is only natural to commission more efficient wind turbines in existing wind farms. European Energy has extensive experience in repowering existing wind farms in Germany, and we intend to bring that expertise to these new projects.”

Morten Beck Jørgensen, Managing Partner, Capital Investments, Novo Holdings, said: “We are pleased to announce this investment in the onshore wind industry, further emphasising our commitment to supporting the transition towards renewable energy sources. European Energy’s expertise in repowering projects and Germany’s support for onshore wind create an attractive investment case that advances the renewable energy agenda and showcases the impact of strategic partnerships.”

About European Energy A/S
European Energy is a renewable energy developer founded in 2004. The company develops and constructs renewable energy projects around the world. Based in Copenhagen, Denmark, the company has a strong track record developing projects in 17 countries. European Energy has a development pipeline of more than 65 GW of renewable energy projects. European Energy is an international organisation with employees from 43 different national backgrounds. By 2024, the European Energy Group has expanded to 800 highly skilled professionals. www.europeanenergy.com

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

Further information

Novo Holdings
Marie-Louise Jersin, Senior Communications Partner, maj@novo.dk

European Energy
Ming Ou Lü, PR Manager,
miol@europeanenergy.com

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Regnology receives a significant minority investment from CPP Investments to support further international growth and expansion

Nordic Capital
  • CPP Investments capital commitment will be made alongside a new investment from Nordic Capital
  • The broadened ownership will support Regnology in achieving its vision of becoming the central platform for reporting across financial institutions and regulators and fulfilling its accelerated international growth plan both organically and through strategic acquisitions 

Canada Pension Plan Investment Board (“CPP Investments”), a leading global institutional investor and Nordic Capital, a leading software private equity investor, today announced an agreed new significant minority investment by CPP Investments for Regnology (“Regnology” or “the Company”), a global software provider with a focus on regulatory reporting solutions for financial institutions.
In addition, Nordic Capital will make a new investment alongside its current ownership. Nordic Capital sees strong continued potential in the Company, and will together with CPP Investments, continue to support Regnology’s vision of creating a global platform that connects regulators and the financial industry to drive stability, transparency and a sustainable future.

This transaction enables Regnology’s further access to long-term capital, global networks and sector expertise to accelerate its expansion into more international markets both organically and through strategic acquisitions. In addition, the broadened ownership will support further investment in Regnology’s technology, product offering, customer success and people. The new ownership structure reflects both CPP Investments and Nordic Capital’s confidence in Regnology’s business model and future growth prospects and provides an opportunity to create additional value.

Regnology is a global provider of innovative regulatory, risk, and supervisory technology solutions. Over 35,000 financial institutions, 70 regulators, and tax authorities rely on its solutions to streamline their processes, enhance data quality and improve efficiency. Regnology supports regulatory reporting for all scales of financial institutions, including top-tier banks, brokerage firms, community banks, and corporate entities, along with major regulatory bodies and financial authorities across Europe, North America, and APAC.

Since Nordic Capital acquired Regnology in December 2020, the Company has outperformed its operational and financial targets and executed on its value creation plan earlier than expected. Regnology has made significant investments in its technology and product platform, experiencing strong organic growth as well as international expansion through strategic add-on acquisitions. The recently announced acquisition of VERMEG’s RegTech business unit (Agile) will expand Regnology’s international footprint in the strategic North American and APAC markets. This acquisition is expected to strengthen Regnology’s position as a global provider of end-to-end regulatory reporting solutions for large banks and other financial institutions seeking a comprehensive and innovative offering from a
single, trusted partner.

Fredrik Näslund, Partner and Head of Technology & Payments, Nordic Capital Advisors, commented:

“Under Nordic Capital’s ownership, Regnology has transformed from a carve-out into a sizeable software platform in the RegTech space and the management team has successfully executed the key levers of the initial value creation plan. Nordic Capital is delighted to be investing further together with CPP Investments to support this journey, allowing Regnology to scale its business model globally. We also want to thank BearingPoint Capital as a strategic partner and minority investor over the last four years.”

Sam Blaichman, Managing Director, Head of Direct Private Equity at CPP Investments, said:

“Regnology has a leading position in attractive and resilient markets, with a differentiated offering driving high customer advocacy. Under its current leadership, Regnology has demonstrated a strong track-record of entering and winning in new geographies. We look forward to supporting the management team’s global ambitions alongside Nordic Capital. We expect this investment to deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”

Rob Mackay, CEO, Regnology said:

“Nordic Capital’s support has been pivotal in our journey, and we are thrilled for CPP Investments to come on board as we enter the next phase of our global expansion. With their combined strengths, we are empowered to further invest in developing our SaaS solutions and accelerate our vision of creating a dedicated network that streamlines regulatory data flows, helping both regulators and the regulated in navigating the complexities of financial regulation.”

Nordic Capital has over 20 years of experience accelerating the growth of innovative technology companies globally. It has made 33 technology investments in companies with an aggregate enterprise value of circa EUR 26 billion, including Itiviti, Macrobond, Regnology, Trustly, Bambora, Signicat, One Inc, ActiveViam, Zafin and the recently announced acquisition of Anaqua. Its current Technology & Payments portfolio generates EUR 4.5 billion of revenues and employs over 17,400 people.

CPP Investments’ net investments through the Private Equity department totalled C$136.9 billion at September 30, 2024. CPP Investments’ Direct Private Equity strategy is focused on assets and sub-sectors where it maintains competitive advantages including a strong track record, superior insights and strategic partnerships to deliver attractive risk-adjusted returns. CPP Investments’
Direct Private Equity team has C$44bn assets under management and has significant experience investing in technology businesses, combined with strong expertise in the financial services sector.

CPP Investments has committed approximately €460 million / C$ 690 million for a significant minority stake in Regnology alongside a new investment made from Nordic Capital XI. Nordic Capital entities will hold a majority stake via Nordic Capital X and Nordic Capital XI. Nordic Capital X, which initially invested in Regnology in 2020, will sell a portion of its holding as part of the transaction. Current minority investor BearingPoint Capital will sell its full holding in connection to the transaction.

Terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and expected to be completed in Q1 2025.

Contact Details

CPP Investments
Steve McCool
Public Affairs & Communications, CPP Investments
Tel: +44 7780 224 245
email: smccool@cppib.com

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2024, the Fund totalled C$675.1 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Service & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution II with EUR 2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About Regnology

Regnology is a leading technology firm on a mission to bring safety and stability to the financial markets. With an exclusive focus on regulatory reporting and more than 35,000 financial institutions, 70 regulators, international organizations, and tax authorities relying on our solutions to process their regulatory reporting data, we’re uniquely positioned to bring greater data quality, efficiency, and cost savings to all market participants. With over 900 employees in 16 countries and a unified data ingestion model powering our work, our clients can quickly implement and derive value from our solutions and easily keep pace with ongoing regulatory changes. Regnology was formed in 2021 when BearingPoint RegTech, a former business unit of BearingPoint Group, joined forces with Vizor Software, a global leader in regulatory and supervisory technology. The Company is on a continued organic and external growth path, building up as one of the world’s most recognized global regulatory reporting powerhouses. For more information about Regnology, connect with us on LinkedIn and X. Visit our website: www.regnology.net

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Nordic Capital’s second mid-market fund, Evolution II, closes at EUR 2 billion hard cap after rapid fundraise

Nordic Capital
  • Strong demand from a globally diversified investor base, with high re-up rate and new LP commitments, making Evolution II 65% larger than its predecessor
  • Investors attracted to Nordic Capital’s subsector-specialism and mid-market investment strategy in Northern Europe
  • Continued focus on successful partnerships with growth companies, to accelerate long-term growth and expansion

Nordic Capital today announced the successful First and Final close of Nordic Capital Evolution II (“Evolution II” or “the Fund”) at the hard cap of EUR 2 billion. Raised within four months from launch with excess demand, the Fund closed at its hard cap and significantly exceeded its target of EUR 1.4 billion. Evolution II attracted excess demand from its launch and benefited from strong support from its current investor base, with a high re-up rate of over 100% by capital, and significant LP commitments from new investors and geographies, including a significant increase from the Americas. Evolution II is 65% bigger than its predecessor fund, Evolution I, which raised EUR 1.2 billion in three months in 2021. Evolution II is the fourth Nordic Capital fund since 2020 to have benefited
from a rapid fundraise. The demand for the Fund and the pace of its fundraise underline investors’ confidence in Nordic Capital’s long-standing investment model and portfolio performance.

Nordic Capital’s Evolution strategy expands the firm’s winning subsector model and powerful platform to a broader spectrum of mid-market companies. Evolution II will target investments predominantly in Northern European companies with an EV of EUR 100 million to EUR 400-500 million. Similar to its predecessor, the Fund will focus on control buyouts and non-cyclical growth opportunities in Nordic Capital’s focus sectors, Healthcare, Technology & Payments, Financial Services and Services & Industrial Tech. While it will target lower mid-market opportunities, Nordic Capital’s flagship funds will continue their focus on upper mid-market companies.

As a long-established subsector specialist, Nordic Capital is committed to finding and developing non- cyclical companies in fast-growing segments within its well-recognised subsectors. It works in close partnership with founders and management teams to develop companies with the potential to lead their markets and shape industries. As an Article 8 fund, Evolution II will continue to drive sustainability agendas and seek to promote long-term, environmental, social and good corporate governance practices within the companies it backs.

Nordic Capital has a strong 35-year history of investing in and successfully growing and developing mid-market companies. This, combined with its repeat sub-sectors strategy, supports a strong investment pipeline and dealmaking for the Evolution Funds. Evolution I, which was raised in 2021, has completed ten investments to date, of which 70% have been made in collaboration with the companies’ founders and 80% completed outside broad auction, demonstrating the Evolution strategy’s strong focus on partnership.

Joakim Lundvall, Partner and Co-Head of the Evolution advisory team said:

“We are delighted to witness such strong demand for Evolution II from both existing and new investors. Their unwavering support is a testament to their confidence in Nordic Capital’s mid-market strategy. Our strong Evolution team, with its clear focus on business growth driven by local market expertise and deep sector knowledge, has cultivated a robust pipeline and secured partnership investments with growth companies within attractive niches. Over the last three years, a number of founders of companies have formed partnerships with Nordic Capital because they have experienced first-hand how we can help make great companies even better and support their expansion into new markets.”

Jonas Agnblad, Partner and Co-Head of the Evolution advisory team said:

“With the Evolution funds, Nordic Capital’s long-standing sector strategy is now applied to a wider range of mid-sized companies, offering a partnership model that can help scale and professionalise companies. The partnership model includes both our own expertise, our broad network of experts and a platform that can support growth and international expansion. By contributing experience in product innovation, international expansion and long-term sustainable value creation, Nordic Capital looks forward to helping more mid-market companies develop and reach their full potential.”

Pär Norberg, Partner and Head of Investor Relations, Nordic Capital Advisors, commented:

“We are very pleased with the outcome of Evolution II. This is a great achievement for the team, and we would like to express our sincere gratitude to Nordic Capital’s global investor base. This type of result is only possible with the backing of long-standing existing investors as evidenced by the strong reup rate, combined with the confidence gained in Nordic Capital by new investors. We are humbled that investors have prioritised and partnered with Nordic Capital, and we are enthusiastic about working together during Evolution II and beyond.”

The Evolution Funds are advised by a dedicated team of 20+ professionals, with a range of tenure and industry experience. The team also draws on Nordic Capital Advisor’s wider organisational capabilities, including its operational and sector focused expertise and well-established regional network.

Evolution II attracted investors from across the globe, including 41% from Europe, 35% from the Americas, 21% from Asia and 3% from the Middle East. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (c.41%); asset managers and advisers (c.26%); sovereign wealth funds (c.14%); family offices and foundations (c.13%); and financial institutions (c. 6%).

Evolution II will continue Nordic Capital’s strong sustainability commitment. This year Nordic Capital received a top ESG rating from the UNPRI for the second consecutive year, and further advanced its climate agenda with the announcement that its greenhouse gas emissions reduction targets have been approved by the Science Based Target initiative. Nordic Capital has a clear commitment to making a positive contribution to society by backing businesses that are solving some of the world’s global challenges or supporting the development of companies with strong sustainable foundations.

The fundraising was led by Nordic Capital, supported by Rede Partners who acted as placement agent, with Kirkland & Ellis as lead legal counsel.

Press contact

Katarina Janerud
Communications Manager Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Service & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested c. EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution II with EUR 2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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Altor divests Nordic Tyre Group to Axcel

Altor Fund IV(“Altor”) have signed an agreement to divest Nordic Tyre Group (“NTG”), the leading independent tyre wholesaler across the Nordics and Baltics, to Axcel Fund VII (“Axcel”).

In 2019, Altor entered a partnership with the founders of Gummigrossen and Rengasduo with the joint ambition to build a Nordic leader within the tyre wholesaler industry. Today, Nordic Tyre Group is the largest independent tyre wholesaler across the Nordics and Baltics with a diversified group of more than 10 000 customers and long-standing relations with 200 suppliers. The company is built on a proprietary technology platform providing a unique competitive advantage.

“Altor established Nordic Tyre Group with the ambition to build the leading tyre wholesaler across the Nordics and Baltics and they have worked with an entrepreneurial mindset to support the management team to realize that mission. It has been an incredible journey and our achievements have been a result of teamwork and a shared vision. Now, our sights are set on European roads together with Axcel” said Patrick Bergander, CEO of Nordic Tyre Group.

“Nordic Tyre Group has grown from a tech-enabled challenger in Sweden to become the leading independent tyre wholesaler across the Nordics and Baltics. We are truly impressed by the achievements of the management team and employees and we are proud to have been part of this journey. We look forward to seeing the company continue its growth journey together with Axcel” said Stian Tuv, Principal at Altor.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Wrist Ship Supply, Trioworld, Eleda, OX2 and Nordic Climate Group.

About Nordic Tyre Group

Nordic Tyre Group is the leading independent tyre distributor across the Nordic and Baltic markets. The company was founded in 2019 through the merger of two leading tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland. Since then, the Group has expanded to Norway and the Baltics through acquisitions of Starco, Gummi-Centralen, Dekkteam, Dekk1 and Latakko, and is today present across six markets.

About Axcel

Founded in the Nordics in 1994, Axcel is a leading private equity group investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer.  Our team across Copenhagen, Stockholm and Frankfurt draws on 30 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. We currently own 19 companies and have made a total of 72 platform investments, over 375 add-on acquisitions and 53 exits.

For more information, visit www.axcel.com.

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