Category Archives: News

Stonepeak Completes Acquisition of Arvida

Stonepeak

NEW YORK & AUCKLAND, NEW ZEALAND – November 19, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed its acquisition of Arvida Group Limited (“Arvida” or the “Company”) (NZX: ARV), one of New Zealand’s largest retirement and aged care providers.

“As one of the leading and most well-regarded retirement village operators in New Zealand, we believe Arvida has a bright future ahead and is well positioned to effectively serve the region’s growing aging population as a privately held entity,” said Darren Keogh, Senior Managing Director at Stonepeak. “We are excited to have closed this transaction and look forward to partnering closely with the Arvida team as the company enters this next chapter.”

“Today marks a transformational day for Arvida, and I am optimistic about the opportunities ahead,” said Jeremy Nicoll, Chief Executive at Arvida. “Stonepeak is aligned with our values and commitment to our employees, residents, and community, and we look forward to leveraging their extensive operational expertise as we execute on our strategy and mission of helping New Zealanders live a truly fulfilling life as they age.”

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 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, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Arvida

Arvida is one of New Zealand’s largest aged care providers owning and operating 35 retirement villages located nationally. Each village operates independently under a corporate structure that supports village operations to ensure quality and consistency of service. Arvida provides a range of living and lifestyle options from independent living to full rest home, hospital and dementia-level care.

Arvida’s growth strategy includes the targeted development of new villages in areas that are supported by a strong demographic and economic profile and acquisition of quality villages that meet strict acquisition criteria as well as the development of additional facilities at existing villages.

Website: www.arvida.co.nz

Contacts

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

Jack Gordon
jack.gordon@sodali.com
+61 478 060 362

Arvida
Geoff Senescall, Senescall Akers
senescall@senescallakers.co.nz
+64 21 481 234

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3i-backed Evernex continues its international growth with acquisition of Ultra Support

3I

3i Group plc (“3i”) announces that Evernex, a global leader in third-party maintenance (“TPM”) services for data centre infrastructure, has acquired Ultra Support, a leading UK-based TPM provider.

Ultra Support is a pure provider of third-party maintenance for data centres, servers and networking equipment. It is solely focused on channel sales through large IT service providers, reaching a user base of more than 1,100 end customers. The company combines expert technical and delivery capabilities with granular geographic coverage of the UK.

The acquisition marks the seventh since 3i’s investment in Evernex in October 2019. It sees Evernex reinforce its position in the UK, a strategic geographic expansion market due its size – the second-largest TPM market in Europe – as well as its rapid growth and the presence of international customers.

Evernex and Ultra Support have a track record of working together as commercial partners and combining the two groups is highly complementary. It will provide opportunities to deliver additional commercial synergies, building on the common values and culture between the two groups. The ongoing leadership of Ultra Support’s core team will maintain the same commitment to customer service and high standards that its partners expect and, as part of Evernex, Ultra Support will be able to leverage its expertise on a global basis.

Peter Hodgson, CEO and Co-Founder, Ultra Support, said: “Joining forces with Evernex represents an exciting opportunity for Ultra Support, our partners, and our team. Evernex’s global presence and comprehensive service offerings allow us to better meet the needs of our partners, both locally and internationally. Importantly, our commitment to a channel-only model ensures that it remains business as usual for our partners. Together, we are well-positioned to enhance the service experience for our partners and provide a wider range of solutions for data centre third-party maintenance.”

Stanislas Pilot, CEO, Evernex, said: “We are thrilled to welcome Ultra Support into the Evernex family. Their expertise in enterprise IT hardware maintenance and their strong channel relationships align perfectly with our mission to deliver reliable, flexible, and scalable IT solutions worldwide. A key element of this partnership is retaining the talented team at Ultra Support, who have been instrumental in the company’s success. This has always been our approach in M&A transactions, as we value and rely on local expertise to ensure seamless integration and growth.”

Marc Ohayon, Partner and Co-Head of France Private Equity, 3i, said: “With Ultra Support, Evernex gains an expert player in the UK TPM market, the second-biggest TPM market in Europe. Ultra Support’s expertise and quality of service make it an ideal partner. Since the beginning, our strategy has been to grow Evernex into an integrated global TPM provider, and this acquisition is another great step on that journey.”

-ENDS-

Download this press release   

For further information, contact:

3i Group plc

Kathryn van der Kroft
Media enquiries

Silvia Santoro
Shareholder enquiries

  

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.

For further information, please visit: www.3i.com

About Evernex

Evernex is a leading third-party maintenance provider that specialises in the support of data centre infrastructure, helping to extend the lifespan of IT hardware, minimise system failures, and repair functional equipment. Additional solutions include spare parts management, recycling, secure data disposal, data centre removal and relocation, library repair, IT hardware rental, and financing solutions.

With a global footprint across 165+ countries, 500,000+ IT infrastructure systems maintained, readily available spare parts in over 340 forward-stocking locations, 24/7 technical support, and multi-vendor expertise, Evernex is a dependable partner and a convenient single point of contact for IT departments across industries.

For further information, please visit: www.evernex.com

About Ultra Support

Ultra Support is a UK-based third-party provider of data centre maintenance and project services headquartered in Melksham, Wiltshire. Ultra Support has built a strong reputation within the IT services industry, specialising in responsive, reliable support for mission-critical IT assets. With a large network of forward-stocking locations across the UK, Ultra Support’s dedicated professionals support tens of thousands of IT assets, ensuring high levels of service.

The company holds ISO27001, ISO9001, and ISO14001 certifications, demonstrating its commitment to quality, data security, and environmental responsibility.

For further information, please visit: www.ultrasupport.co.uk

 

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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Investcorp, in Partnership with PSP Investments, Makes Strategic Growth Investment in PKF O’Connor Davies

Investcorp

Investcorp, a leading global alternative investment firm, in partnership with the Public Sector Pension Investment Board (“PSP Investments”), today announced their strategic growth investment in PKF O’Connor Davies (“PKFOD”) (“the Organization”), one of the largest accounting, tax and advisory firms in the US.

This transaction represents a significant milestone for PKFOD, adding two experienced investors that will help fuel growth and expand service offerings to enhance the overall client experience. This partnership will elevate the Organization’s competitiveness and amplify long-term sustainability. The strengthened balance sheet will provide flexibility for increased M&A activity as well as investing in cutting-edge technology and new service lines.

Investcorp has a well-established record of investing in specialized professional services firms with notable investments including AlixPartners, ICR, Resultant, United Talent Agency and CrossCountry Consulting.

Steve Miller, Co-Head of North America Private Equity at Investcorp, said: “In recent years, Investcorp has established itself as a partner of choice for ambitious professional services organizations seeking to grow. Together with PSP Investments, with whom we have a history of investments in the professional services sector, and more than 200 PKFOD partners, we are excited to build upon the Organization’s decades of success.”

Vitali Bourchtein, Principal at Investcorp, said: “As ownership rules in the sector have evolved, we have been seeking the right platform to back. We were instantly impressed by PKFOD’s leadership team and the exceptional track record of financial performance. Providing the Organization with additional resources will help accelerate growth and enhance its competitive position in the accounting, tax and advisory verticals.”

David Morin, Managing Director and Head of North America, Private Equity at PSP Investments, added: “We are excited to partner with Investcorp and PKFOD to provide strategic capital and work together in realizing PKFOD’s full potential during their next chapter of growth.”

Kevin Keane, Executive Chairman at PKF O’Connor Davies, said: “Since inception, our identity as an Organization has been our enduring commitment to service. This investment from Investcorp and PSP Investments further validates that we have an attractive business with a great brand, great talent, and great customers. Investcorp and PSP Investments have a long history of backing profitable, industry-leading companies with demonstratable growth avenues and were impressed by PKFOD and the culture that we have built.”

Going forward, PKFOD will continue to operate in an alternative practice structure in accordance with applicable professional standards where PKF O’Connor Davies LLP, a licensed CPA firm, will continue to provide attest services and PKF O’Connor Davies Advisory LLC and its subsidiary entities will continue to provide tax and advisory services.

Terms of the transaction were not disclosed. The transaction has received regulatory approval and is subject to other standard closing conditions.

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DEScycle secures £10.2m to revolutionise metal recycling technology

The deep tech company has successfully closed its Series A round, co-led by BGF and Berlin-based Vorwerk Ventures.

18 November 2024
DEScycle secures £10.2m to revolutionise metal recycling technology

DEScycle, a deep tech company pioneering technology to recycle metals from electronic waste (e-waste), has successfully closed a £10.2 million Series A round.

The investment was led by BGF, with Berlin-based Vorwerk Ventures as co-lead. Incoming investors include Cisco Investments, Kadmos Capital, and Nesta. Follow-on investment was received from existing shareholders, including TSP Ventures, Green Angel Ventures, and CPI Enterprises.

E-waste is the world’s fastest-growing waste stream, with over $91 billion of e-waste produced in 2022, growing to $120 billion by 2030. Current recycling technologies are outdated, harmful to the environment, and difficult to scale. In addition, the pace of e-waste generation is outstripping the growth of recycling capacity by a factor of 5x (Global E-waste Monitor 2024).

DEScycle is delivering a clean, scalable technology that tackles this problem, creating local circular economies of recycled metals that reduce the reliance on international supply chains. The tech is based on a new eco-friendly class of chemistry: Deep Eutectic Solvents (DES).

“DEScycle is poised to make a significant impact on metals recovery and sustainable e-waste management. We look forward to supporting DEScycle’s mission to replace outdated pollutive technologies, delivering significant costs savings, increased performance, environmental impact, and transparency in the critical e-waste recycling sector.”
Rowan Bird
Investor at BGF

Funds raised will be used to construct and operate a pre-commercial pilot plant at Wilton International in Teesside, UK. The plant will be instrumental in demonstrating DEScycle’s DES-based technology in a real-world environment, as well as providing the data for commercial scale-up.

Future plans include the opening of an e-waste recycling facility in Gateshead, with the support from DEScycle’s joint venture partner, GAP Group, one of the UK’s largest e-waste recyclers. The commercial-scale plant will be able to recycle 5,000 tonnes of e-waste per year, producing critical raw materials, including copper and palladium, as well as precious metals, such as gold, for industrial use.

Descycle metal recycling technology

DEScycle is a keen supporter of the UK as an innovation and technology hub, and the company plans to continue to develop and scale its technology within the country. In doing so, it will leverage the deep knowledge and infrastructure that exists through its relationships with the University of Leicester (where DES was discovered in the early 2000s) and UK Catapult organisation CPI (Centre for Process Innovation), as well as new relationships, such as Wilton International, which is part of the Teesside industrial cluster and provides access to a permitted site for scaling chemistry-based technologies.

“This funding round accelerates our momentum, allowing us to progress bringing our innovative DES technology to the industrial level and demonstrate its effectiveness in real-world conditions. As a home-grown UK company, it is strategic to build both our pilot and commercial plants here. The UK is one of the world’s hubs for innovative technology, and we are proud to continue this legacy.”
Dr Rob Harris
CTO at DEScycle

DEScycle Chair, Ian Cockerill, said: “DEScycle has made significant progress over the last 18 months, and the successful closing of this funding round is a strong vote of confidence for the team, the technology, and our potential to revolutionise the metals industry. The business is paving the way for an environmentally responsible and profitable approach to metals recycling from e-waste. This is particularly relevant for growth areas, such as AI, which require a significant infrastructure rollout reliant on metals, all of which, due to their short lifespan, will be recyclable when DEScycle launches commercially.”

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Linkup raises €3 million to offer a new gateway to the “Internet of AIs”

Seedcamp

AI is fundamentally changing the nature of the Internet and its traditional business models. Developing an ethical, sustainable and efficient ecosystem for the web of AI agents is a priority.

We are excited to partner with Linkup, a French startup on a mission to build new pathways for AIs to access the web efficiently and fairly. Founded in 2024 by Philippe Mizrahi, Denis Charrier, and Boris Toledano – who bring together experience from Spotify, Lyft, and McKinsey, Linkup is an internet search and access engine designed for artificial intelligence.

With its proprietary API, Linkup enables AI companies of all sizes to benefit from fast and ethical access to online content through partnerships with a wide range of premium content sources.

Philippe Mizrahi, co-founder and CEO of Linkup, explains:

“The Internet was designed to facilitate information access for humans. Soon, AI agents will do this on our behalf. It is therefore essential to rethink the web to enable efficient browsing for these agents and to promote the emergence of a new business model. At Linkup, we put ethics at the heart of our technology, convinced that the future of AI agents lies in a sustainable ecosystem where content providers, who are vital to the richness of the internet, are fairly compensated.”

On why we partnered with Linkup, our Partner Sia Houchangnia comments:

“AI tools have unprecedented potential to transform industries, and their power increases exponentially when connected to vast, relevant data sources. With the rise of AI agents, we have a unique opportunity to rethink our digital infrastructure for a world that demands a fairer and more sustainable approach to content access, an area that has long needed change. This is where Linkup comes in. As a pioneer of a new ethical model for tomorrow’s web traffic, Linkup is setting a new standard where deep analysis and powerful applications go hand in hand with fairness.”

We are excited to partner with Linkup from day one and lead its €3 million funding round, joined by Axeleo Capital, Motier Ventures, Kima Ventures, as well as a hundred business angels from the tech and media industries.

With the new funding, Linkup plans to:

  • Develop its proprietary models and capabilities;
  • Deploy its solution on a larger scale with suitable infrastructure;
  • Continue to build partnerships with content publishers and data providers.
  • Strengthen its technical team, particularly for Machine Learning and Software Engineering positions.

In October 2024, Linkup was selected for the Microsoft GenAI Studio, with support from Microsoft, Nvidia, Github, Mistral AI, and Cellenza. Moreover, the company is already supported by strong partnerships in Asia and the United States and plans to accelerate its deployment across the USA in the upcoming months.

For more information, visit linkup.so.

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BlueEarth completes inaugural private credit investment in Healthcare with Namibian Hospital partnership

Blue Earth Capital

Blue Earth Capital (“BlueEarth”), a global specialist impact investor, today announces an $ 11 million private credit commitment to Rhino Park Holdings (Proprietary) Limited (“Rhino Park”), a leading multi-disciplinary private hospital in Namibia specializing in maternity and neonatal healthcare.

The investment marks BlueEarth’s first private credit investment in the healthcare sector, and the issuance of its second sustainability-linked loan. BlueEarth’s investment supports the acquisition of the hospital by Salt Capital, a Southern Africa focused private equity investment manager. The funding will work to catalyze Rhino Park’s ambitious expansion plans, including the development of a best-in-class operating theatre for more advanced surgical procedures, an innovative primary healthcare center, and new MRI imaging facilities.

The maternal mortality rate is one of Namibia’s most pressing healthcare concerns, ranking second highest among upper-middle-income countries globally.13  In addition, neonatal disorders are a leading cause of premature death in Namibia, with 32% of under-five deaths occurring in the first month of life.14 As Namibia’s second-largest private hospital with a world-class obstetrics department – the nation’s largest – Rhino Park is at the forefront of addressing these critical healthcare challenges in the country.

Beyond immediate patient care, Rhino Park demonstrates its commitment to furthering the nation’s healthcare development by offering nursing student placement programs and providing study loans to its nursing staff. This further upskills workers, ensuring continuity to Namibia’s ability to produce an adequate supply of skilled domestic health workers.

These factors, combined with the sustainability and impact-linked characteristics of the facility, (BlueEarth’s second such loan), work to ensure full alignment with BlueEarth’s dual mission of generating compelling social impact alongside financial returns, and represents a significant step in advancing healthcare accessibility and quality in Southern Africa.

Amy Wang, Head of Private Credit at BlueEarth, comments: “This partnership with Salt Capital represents a wonderful opportunity to transform healthcare delivery in Namibia. By investing into Rhino Park’s growth, we are not just expanding a leading medical center but also helping to build a healthier future for Namibians. We hope that this investment will help provide high-quality healthcare to an increasing number of patients and support the steady improvement of overall health outcomes. Healthcare has long been a priority vertical impact at Blue Earth Capital, and we are very excited to complete our investment alongside these trusted partners. We are also particularly proud to continue driving forward the practice of linking impact with financial return with our second sustainability-linked loan.”

Martin van Niekerk, CEO of Rhino Park, comments: “We are thrilled for the support received from BlueEarth, which will allow us to embark on an ambitious expansion plan that will significantly enhance our healthcare offerings. This funding will allow us to expand our facilities, invest in advanced medical technologies, and increase our capacity to serve our community. Our commitment to providing exceptional, caring, dignified, and affordable patient care to the people of Namibia remains unwavering, and this expansion will position us to better meet the growing needs of our patients and families in the years to come.’’

Jan Bosch, Managing Partner at Salt Capital, comments: “Today marks an exciting milestone for our firm as we close this transaction, bringing together a shared vision and complementary strengths of Salt Capital and the management team of Rhino Park hospital to create lasting value. This achievement is a testament to the hard work and dedication of our team, our partners, and all those who contributed to making this deal possible. We extend our sincere gratitude to our debt funding partners, Blue Earth Capital, for their invaluable support and confidence, which played a crucial role in bringing this vision to life. We look forward to supporting Rhino Park to continue on its journey of growth and service to the community and are confident in our ability to drive meaningful impact and deliver strong returns for all our stakeholders.’’

 -END-

 Note to editors

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions as well as separately managed accounts. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

About Rhino Park
Rhino Park is a leading multi-disciplinary private hospital in Namibia with a specialty in maternity and neonatal healthcare. Founded over 30 years ago in 1994, the hospital started out as a day hospital and has since grown to become the joint second largest private hospital in the country with the largest obstetrics department in the country, whilst also being the first hospital to have established one of only two pediatric ICUs in Namibia.

About Salt Capital
Founded in 2012, Salt Capital is a private equity fund manager focused on SME growth capital investments in the sub-Saharan Africa. Based in London and Johannesburg, Salt Capital’s four Partners have built a track record of successful private equity investments with a core focus on the African consumer.

 

Blue Earth Capital media contact:
Kekst CNC
Blueearthcapital@kekstcnc.com

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EQT Life Sciences leads €54 Million Series A Financing of ATB Therapeutics

EQT Life Science

Proceeds will fund clinical development of oncology and immunology therapeutics derived from innovative antibody payload platform

Mark Throsby, industry veteran and former CSO of Merus, joins as Executive Chair

 

EQT Life Sciences is pleased to announce that its LSP 7 fund has invested in ATB Therapeutics. The €54 million Series A funding round is aimed at accelerating the clinical development of a groundbreaking therapeutic antibody pipeline derived from its proprietary ATBioFarm platform. The financing was co-led by EQT Life Sciences and MRL Ventures Fund (MRLV, a corporate venture arm of Merck & Co., Inc., Rahway, N.J., USA) alongside contributions from V-Bio, VIVES Partners, the Belgian sovereign fund SFPIM, Wallonie Entreprendre, Sambrinvest, and existing investors.

ATB Therapeutics is dedicated to pioneering first-in-class biologics that incorporate novel cell-killing mechanisms, including enzymatic functionalities, within targeted antibodies. These rapidly produced antibodies combine multiple targeting and killing domains, enhancing their effectiveness and safety compared to traditional conjugates. The ATBioFarm technology facilitates the scalable, single-step production of these sophisticated biologics, promising significant advancements across various therapeutic applications.

The investment will enable ATB to expand and enhance the ATBioFarm platform, as well as to accelerate development of its unique weaponized antibodies for oncology and immunology applications. ATB’s research and development operations will be extended to Ghent and will continue in Marche-en-Famenne, where the Company is setting up a cutting-edge pilot manufacturing facility.

In conjunction with this funding, Mark Throsby has been appointed ATB’s Executive Chairman. Mark is an industry veteran and the former Chief Scientific Officer of Merus, where he was instrumental in the development of the bispecific antibody therapeutics. With his wealth of experience and expertise in antibody development, Mark further strengthens the Company’s leadership, as ATB embarks on this pivotal phase of growth. The Company is also welcoming seasoned biotech investors John de Koning, Partner at EQT, and Karin Kleinhans, Partner at MRLV, to its Board of Directors.

“Our successful financing round demonstrates the strong potential of the ATBioFarm platform and the confidence prominent international investors have in our vision,” stated Bertrand Magy, CEO and co-founder of ATB Therapeutics. “We are grateful to our investors and the Région Wallonne for their unwavering support. This funding will enable us to bolster our team, expand our operations, and advance our mission to deliver transformative therapies to patients worldwide.”

Mark Throsby expressed his enthusiasm for this new role, stating, “I am particularly impressed by the ATBioFarm platform’s capability to swiftly generate a diverse array of candidate molecules with unique cytotoxic and targeting features. This innovative approach addresses critical challenges in selecting ADC drug candidates and opens avenues for new mechanisms of action that fulfill unmet clinical needs. I look forward to collaborating with the ATB team to bring this vision to reality.”

“The founders of ATB Therapeutics have demonstrated remarkable entrepreneurial vision by establishing a proprietary drug discovery, development, and manufacturing platform from the ground up,” remarked John de Koning, Partner at EQT. “The platform’s ability to manufacture antibodies from a single expression construct that integrates both targeting and direct cytotoxic functions is truly exceptional, positioning ATB as a prospective leader in the next generation of biopharmaceuticals.”

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), 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, X, YouTube and Instagram

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.

About ATB Therapeutics
Founded in 2018, ATB Therapeutics is a pioneering biotechnology company based in Marche-en-Famenne, Belgium, dedicated to the discovery and development of novel antibody therapies. Leveraging a proprietary technology platform based on plant molecular farming, ATB Therapeutics aims to deliver targeted solutions to high unmet medical needs, including oncology and autoimmune diseases, through innovative, next-generation of weaponized antibody treatments.

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EQT Exeter to Acquire Strategic Supply Chain Assemblage Comprising Nearly Five Million Square Feet of Institutional Quality Industrial Assets

eqt

Transaction consists of 33 high-quality distribution buildings located across 12 major industrial markets throughout the United States, all with adjacencies to EQT Exeter offices

Properties include a mix of big box distribution and last-mile facilities primed to serve a variety of tenants in the Southeast, Midwest, and Texas

EQT Exeter plans to implement strategic make-ready improvements to fill the remaining vacancy and collaborate with existing tenants to maintain steady occupancy and cash flow

EQT Exeter, a leading global real estate investment manager, is pleased to announce that the EQT Exeter Industrial Value Fund VI (“EQT Exeter”) has acquired 33 industrial assets (“the Assemblage”) strategically located in prime submarkets across the United States. Twenty-one of the assets are located in markets with an EQT Exeter office.

The Assemblage consists of over 4.5 million square feet of bulk and last-mile industrial facilities with an average building size of over 138,000 square feet. The properties are located across four core regional markets, including the Southeast (Richmond, Atlanta, and Jacksonville); the “E-Commerce Triangle” (Louisville, Cincinnati, and Indianapolis); the Midwest (Chicago, St. Louis, Kansas City, and Minnesota); and El Paso, Texas.

Strategically located within these prime logistics corridors, the properties provide seamless connectivity to key interstate routes and major population centers, optimizing both last-mile and regional distribution. Designed with best-in-class features, these buildings support a broad spectrum of distribution functions and offer flexible suite sizes. Diverse site plans, optimal clear heights, and abundant dock positions maximize operational efficiency, catering to the diverse needs of today’s tenants. The properties feature 34 unique tenants and four vacant suites. Roughly 38% of the existing tenants constitute current relationships within EQT Exeter’s portfolio, reflecting the depth of the firm’s global tenant-partner relationships.

The Assemblage is approximately 90% leased with staggered lease terms. EQT Exeter intends to enhance value through the make-ready and lease-up of the remaining 428,000 square feet of available space across the assets. Through its “locals-with-locals” approach, EQT Exeter intends to strengthen existing tenant-partner relationships, foster new ones, and ensure the assets continue to meet the evolving needs of the tenants they aim to serve.

Chris Riley of CBRE arranged the transaction with assistance from Ryan Bain, Frank Fallon, Judd Welliver, José Lobón, Jonathan Beard, and Jonathan Bryan of CBRE National Partners.

Contact

EQT Press Office, press@eqtpartners.com

About

About EQT Exeter
EQT Exeter is a global real estate investment manager with over $29 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 440 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/

Follow EQT Exeter on LinkedIn

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Bain Capital Closes Global Special Situations Fund

BainCapital

Creates one of the largest global special situations investment pools with $9 billion of investable capital

Continues growth of global strategy that delivers flexible capital solutions to meet the needs of companies, entrepreneurs, and asset owners

BOSTON – November 18, 2024 – Bain Capital today announced it completed fundraising for its latest Global Special Situations Fund, bringing the total amount raised for its second vintage of funds to $9 billion. This capital base includes Global Special Situations Fund II, which received $5.7 billion in total commitments, inclusive of co-investments and separately managed accounts, and $3.3 billion from the firm’s previously closed Special Situations Asia and Europe regional funds. The successful fundraise positions Bain Capital as one of the largest special situations investors in the world.

Bain Capital’s Special Situations strategy combines bespoke capital solutions with strategic partnership to meet the diverse needs of companies, entrepreneurs, and asset owners across all market cycles. The team brings together credit and equity expertise, as well as corporate and real asset capabilities, to provide solutions that cannot be met by traditional providers. With more than $20 billion total assets under management, the strategy brings a differentiated ability to provide both capital as well as operating value-add.

On a global scale, Special Situations pursues both structural and cyclical opportunities across three primary investment strategies:

  • Capital Solutions: Investing and partnering with companies around the world to fund growth and M&A, provide liquidity, or optimize a company’s capital structure.
  • Hard Assets: Supporting asset owners and operators across the capital stack to structure tailored investments and build platforms that address market inefficiencies.
  • Opportunistic Distressed: Investing in complex and often misunderstood assets in dislocated market environments.

“Structural shifts are creating significant opportunities for creative capital providers who can fill the gaps between traditional strategies and provide enhanced value for companies, entrepreneurs, and asset owners,” said Barnaby Lyons, Partner and Global Head of Special Situations. “These catalysts demand innovative and adaptable investment solutions, backed by a global team with deep industry insights and robust strategic support. We’ve built one of the largest and most global special situations teams with over 140 investment professionals across four continents, and we see a substantial opportunity to further expand our global strategy and capabilities.”

While leveraging Bain Capital’s 40-year legacy of differentiated value creation, the Special Situations team brings significant operational capabilities to each transaction. Its portfolio group of more than 40 professionals offer dedicated operating and functional expertise from their experience in corporate leadership roles.

Recent investments from the firm’s Special Situations strategy include AQ Compute, a European provider of green, flexible, and modular data center and colocation services powered by renewable energy; Tyger Capital, a lender seeking to empower entrepreneurs, borrowers, and homeowners in India; MRO Holdings Inc., a leading provider of aircraft maintenance solutions for the global commercial airline industry; and Sikich, a leading professional services firm specializing in accounting, tax, and IT services in North America.

###

About Bain Capital

Bain Capital, LP is one of the world’s leading private investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate, life sciences, insurance, and other strategic areas of focus. The firm has offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com.

Media Contacts:

Scott Lessne / Charlyn Lusk

Stanton

(646) 502-3569 / (646) 502-3549

slessne@stantonprm.com / clusk@stantonprm.com

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Apollo Funds Acquire Majority Stake in The State Group, A Leading Provider of Multi-Trade Services

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NEW YORK, Nov. 18, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds associated with its Impact and Clean Transition strategies (the “Apollo Funds”) have acquired a majority stake in The State Group (“TSG” or the “Company”) from Blue Wolf Capital (“Blue Wolf”). Blue Wolf will retain a minority stake in the business, alongside existing management shareholders.

Established in 1961, TSG is a leading provider of electrical, mechanical, robotics and automation services, with a strong presence across industrial end markets. TSG executes complex projects at facilities from newbuild to ongoing maintenance and retrofit with decades-long customer relationships across key markets. A substantial portion of the Company’s work enables customers to optimize, reduce and decarbonize their energy use, helping a wide range of industrial end markets abate future emissions. The Company plays an important role in enabling the energy transition through its expertise in industrial manufacturing plants as well as power and renewable facilities. TSG’s capabilities have clear applicability to a number of fast-growing end markets, including data centers, where the Company supports critical technology infrastructure by providing electrical contracting services and other specialized solutions.

“The opportunity to leverage Apollo’s expertise and resources marks a significant milestone for the next phase of our business’ growth,” said Michael Lampert, CEO of TSG. “The partnership with Apollo positions us well to enhance our capabilities and meet the evolving needs of our customers as they scale and optimize their North American operations.”

“TSG has a proven track record of providing quality and reliable service to its industrial customers, with a key role to play in driving energy efficiency and the energy transition,” said Christine Hommes, Partner at Apollo. “Our organizations have a shared vision for the continued growth of the business, and we are excited to partner with Michael and the broader team as they strengthen and expand their offerings.”

Apollo is a high-growth asset management firm with strategies dedicated to investing in companies that demonstrate strong environmental and social impact. Apollo-managed funds have deployed approximately $40 billioni into energy transition and sustainability-related investments over the past five years, supporting companies and projects across clean energy, sustainable mobility and infrastructure.

Financial terms of the transaction are not disclosed. Moelis & Company served as financial advisor, and Holland & Knight LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel for The State Group. Latham & Watkins LLP and Blake, Cassels & Graydon LLP acted as legal advisors to the Apollo Funds.

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i As of June 30, 2024. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.


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, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

About The State Group

The State Group is one of North America’s leading multi-trade industrial and specialty services contractor, providing electrical, mechanical, millwrighting, robotics and automation services to diverse industries. Headquartered in Franklin, TN, The State Group has offices across Canada and the United States and has built long-term relationships with Fortune 100 companies, property managers and original equipment suppliers who look to The State Group to complete complex building, manufacturing and engineering projects while staying on schedule and within budget.

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

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