Category Archives: News

Stonepeak to Acquire Interest in Woodside’s Louisiana LNG

Stonepeak

NEW YORK — April 6, 2025 — Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced an agreement to acquire a 40% interest in Louisiana LNG Infrastructure LLC (“Louisiana LNG” or the “Project”), a liquefied natural gas production and export terminal in Calcasieu Parish, Louisiana owned by Woodside Energy Group Ltd (“Woodside”)(ASX: WDS, NYSE: WDS).

The Project, positioned in the heart of the Gulf Coast LNG corridor with close proximity to natural gas resources and direct access to the US Gulf, has a total permitted capacity of 27.6 million tonnes per annum and is nearing final investment decision (FID) for the foundation development. Construction is currently underway, and the front-end engineering design has been completed. Bechtel, an industry leader in infrastructure project delivery, is the engineering, procurement, and construction (EPC) contractor for the Project. Woodside will continue to operate the Project following completion of the transaction.

“With the need to bring significant additional capacity online over the coming years, we have strong conviction in the critical role Louisiana LNG will play in the US LNG export market,” said James Wyper, Senior Managing Director and Head of US Private Equity at Stonepeak. “The Project represents a compelling opportunity to invest in a newbuild LNG export facility nearing FID approval with an attractive risk-return profile and best-in-class partners in both Bechtel and Woodside to construct and operate the asset.”

Woodside CEO Meg O’Neill said, “We are very pleased to have Stonepeak join us in Louisiana LNG, given their demonstrated track record investing in US gas and LNG infrastructure across LNG facilities, LNG carriers, and floating storage and regasification units. This transaction further confirms Louisiana LNG’s position as a globally attractive investment set to deliver long-term value to our shareholders. It is the result of a highly competitive process that attracted leading global counterparties and significantly reduces Woodside’s capital expenditure for this world-class project.”

The transaction is expected to close in the second quarter of 2025 subject to conditions precedent including final investment decision for the Louisiana LNG foundation development, as well as requisite regulatory, legal, and other customary approvals.

Mizuho Bank, Ltd and its affiliate Greenhill & Co., LLC and Santander US Capital Markets LLC served as financial advisors to Stonepeak. Simpson Thacher & Bartlett LLP served as transactional legal counsel and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing legal counsel to Stonepeak. RBC Capital Markets and Evercore served as financial advisors to Woodside. Norton Rose Fulbright served as legal counsel to Woodside.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 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 digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Woodside

Woodside is a global energy company providing reliable and affordable energy to help people lead better lives. We leverage our track record of world-class project execution and operational excellence as we build a diverse global portfolio to meet the world’s growing energy needs.

We have over 35 years of experience in the LNG industry including pioneering Australia’s LNG industry as operator of the North West Shelf Project where we shipped our first LNG cargo to Japan in 1989. We are executing major projects today, while pursuing growth opportunities that will deliver long-term value for our shareholders. We maintain a strong balance sheet and a disciplined investment approach.

Contacts

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

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

Woodside:
Christine Forster
christine.forster@woodside.com
+61 484 112 469

Forward-looking statements

This press release contains “forward-looking statements”, within the meaning of applicable U.S. and Australian securities laws, including with respect to market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the transaction (including statements concerning the timing and completion of the transaction, the expected benefits of the transaction and other future arrangements between Stonepeak and Woodside), expectations regarding future expenditures and future results.

All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘opportunity’, ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Forward-looking statements in this press release are not guidance, forecasts, guarantees or predictions of future events or performance but instead represent expectations, estimates and projections regarding future events or circumstances. Those statements and any assumptions on which they are based are only opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such information is stated and are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements.

Details of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission. Readers are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. All information included in this press release, including any forward-looking statements, speak only as of the date of this press release and neither Stonepeak nor Woodside undertake to update or revise any information or forward-looking statements contained within, whether as a result of new information, future events, or otherwise, except as required under applicable U.S. or Australian securities laws.

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Major acquisition for Verene Energia, CDPQ’s power transmission platform in Brazil

Cdpq
  • Verene Energia acquires seven power transmission assets from Equatorial Group, with a total length of more than 2,400 km
  • An important step in growing the platform, which is well positioned to meet the increasing needs for power transmission

Verene Energia (“Verene”), a power transmission platform, and its owner CDPQ, a global investment group, today announced an agreement with Equatorial S. A. to acquire its power transmission business unit, Equatorial Transmissão S.A., which owns and operates seven power transmission lines.

The transaction, whose value could reach CAD 1,263 million (BRL 5,188 million), is CDPQ’s fourth investment in the power transmission sector in Latin America since 2022 and positions Verene as a key player in the Brazilian power transmission sector.

The seven new assets, commissioned between 2019 and 2021, total 2,430 km in length and are spread across four Brazilian states in the North, Northeast and Southeast regions. The concession period expires in 2047.

“This new acquisition by our platform Verene shows the continued interest we have in investing in Brazil, a key market for us. It also reflects our appetite for its power transmission sector, which offers a stable and predictable regulatory framework that is attractive to our clients,” said Emmanuel Jaclot, CDPQ’s Executive Vice-President and Head of Infrastructure. “With over 4,000 km of high-voltage lines in operation, Verene is gaining scale to play a role in meeting the decarbonization objectives for Brazil’s national grid.”

Financial close is expected by December 2025, subject to customary closing conditions and relevant consents and approval.

ABOUT CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2024, CDPQ’s net assets totalled CAD 473 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

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Rogers enters into definitive agreement for CDN$7 billion equity investment

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  • Proceeds will be used to repay debt
  • Expects debt leverage ratio to be reduced by 0.7x following the close of the transaction
  • Rogers will maintain full operational control of its wireless network

Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI) today announced it has entered into a definitive agreement with funds managed by Blackstone, backed by leading Canadian institutional investors, for a CDN$7 billion equity investment.

Under the terms of the transaction, Blackstone will acquire a non-controlling interest in a new Canadian subsidiary of Rogers that will own a minor part of Rogers’ wireless network. Rogers will maintain full operational control of its network and will include the financial results of the subsidiary in its consolidated financial statements.

“This strategic partnership demonstrates the confidence investors have in Rogers and in our world-class assets,” said Tony Staffieri, President and CEO. “With this significant investment, we are executing on our commitment to de-lever our balance sheet.”

The investor group led by Blackstone includes Canada Pension Plan Investment Board (CPP Investments), the Caisse de dépôt et placement du Québec (CDPQ), the Public Sector Pension Investment Board (PSP Investments) and British Columbia Investment Management Corporation.

Repaying debt and strengthening balance sheet

Rogers intends to use the net proceeds from the transaction to repay debt.

“This transaction will strengthen the company’s investment grade balance sheet by reducing our borrowings and unlocking the unrecognized value of critical assets,” said Glenn Brandt, Chief Financial Officer. “With this transaction, Rogers will have issued an aggregate $9 billion of equity-valued capital since year-end, which is expected to reduce leverage by almost 1 turn.”

Subsidiary equity investment

Following the transaction, Blackstone will hold a 49.9% equity interest (with a 20% voting interest) in the subsidiary and Rogers will hold a 50.1% equity interest (with an 80% voting interest) in the subsidiary. At any time between the eighth and twelfth anniversaries of closing, Rogers will have the right to purchase Blackstone’s interest in the subsidiary.

The subsidiary is expected to distribute up to approximately CDN$0.4 billion annually to Blackstone in the first five years post-closing. Rogers’ average capital cost through to the end of the period for purchase is expected to be 7% per annum.

The investment in a portion of Rogers wireless backhaul transport infrastructure will be reported as equity in Rogers consolidated financial statements, and is expected to be considered an equity investment by Moody’s Investors Services, Inc., S&P Global Ratings, a division of S&P Global Inc., and DBRS Limited.

Subject to satisfaction or waiver of all closing conditions, the transaction is expected to close in the second quarter of 2025. Separately, Rogers intends to seek consent from the holders of its outstanding senior notes for certain proposed clarifying amendments to our bond indentures.
Additional information about the transaction and the terms and conditions thereof will be available in a material change report to be filed on Rogers’ profile on SEDAR+ at sedarplus.ca.

Forward-Looking Statements

This news release includes “forward-looking information” within the meaning of applicable securities laws relating to, among other things, the anticipated effect of the transaction on our debt leverage ratio, our intended use of proceeds from the transaction, our relationship with and control over the Backhaul subsidiary, the expected equity treatment for the transaction from our credit rating agencies, the closing of the transaction on the terms described in this news release and the expected timing of the closing of the transaction. Forward-looking information may in some cases be identified by words such as “will”, “anticipates”, “expects”, “intends” and similar expressions suggesting future events or future performance.

We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change, including, but not limited to, new interpretations or accounting standards, or changes to existing interpretations and accounting standards, from accounting standards bodies, changes to the methodology, criteria or conclusions used by rating agencies in assessing or assigning equity treatment or equity credit to the transaction and the other risks described under the headings “About Forward Looking Information” and “Risks and Uncertainties Affecting our Business” in our management’s discussion and analysis for the year ended December 31, 2024. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represent expectations as of the date of this news release and is subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

Forward-looking information is provided herein for the purpose of giving information about the transaction and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes. The completion of the transaction is subject to closing conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the transaction will occur, or that it will occur on the terms and conditions contemplated in this news release. The transaction could be modified, restructured or terminated. There can also be no assurance that the benefits expected to result from the transaction will be fully realized.

Other Information

Debt leverage ratio is a capital management measure. The debt leverage ratio has been adjusted in this press release to give effect to the transaction by further reducing adjusted net debt by an amount equal to the expected net proceeds of the transaction. This adjusted debt leverage ratio is a non-GAAP ratio and the further adjusted net debt, used as a component of this adjusted debt leverage ratio, is a non-GAAP financial measure. These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies. For more information about these measures, see “Non-GAAP and Other Financial Measures” and “Financial Condition – Adjusted Net Debt and Debt Leverage Ratios” in our management’s discussion and analysis for the year ended December 31, 2024, which is available at sedarplus.ca and sec.gov.

About Rogers Communications Inc.

Rogers is Canada’s leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

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CapMan Wealth’s annual programme raises $120 million of new capital

Capman

CapMan Wealth’s annual programme raises $120 million of new capital

CW Investment Partners Fund IV (non-UCITS) (”the Fund”) held its final close at the end of March, raising approximately $120M in total. The Fund is part of the annual CapMan Wealth Investment Partners (“CWIP”) programme that invests in sought after US mid-market buyout funds alongside AlpInvest, a leading global private equity asset manager. Approximately $330 million in total has been raised since the inception of the programme in 2021.

A meaningful portion of the manager selection for the fourth Fund has been successfully completed, with one-third of the Fund’s capital already allocated to three particularly compelling target funds.

“We are pleased with the strong momentum and the record size of the Fund. The attractiveness of the US mid-market, coupled with the cost-effective fee structure of the CWIP programme, has been well received by our investors. This is demonstrated by the significant number of new investors joining alongside our existing investors. The trust placed in us by our clients, even in a globally challenging fundraising market, is something we deeply value. We deem the US mid-market to be a highly attractive space for alpha generation in terms of market depth, value creation and exit opportunities. Our annual model provides the flexibility to navigate through volatile times, ensuring that our investors can adjust their allocations to maximise returns”, shares Eero Vesa, Portfolio Manager and Head of Private Markets at CapMan Wealth.

AlpInvest has been an important partner for CapMan Wealth for several years. “This partnership has enabled our clients to access truly unique investment opportunities, which are typically challenging to access for investors from outside the United States. The company’s long-standing relationships with fund managers, often spanning decades, allow us the desired access we seek. Many of the target funds we have been able to join through AlpInvest are oversubscribed, meaning that the target funds may not even accept new investors.”, Eero Vesa continues.

CapMan Wealth is CapMan Group’s wealth management unit offering comprehensive wealth management solutions covering global public and private markets across all asset classes. The CapMan Wealth team seeks to earn a trusted advisor status among its clients by offering high-quality advice powered by sophisticated investment portfolios and instruments. CapMan Wealth has done manager selection for over a decade guaranteeing a dynamic and open product architecture.

For more information, please contact:

Eero Vesa, Head of Private Markets, CapMan Wealth, +358 40 591 8700

Mika Koskinen, Managing Partner, CapMan Wealth, +358 40 836 6677

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.1 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C target and our commitment to net zero greenhouse gas emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001.www.capman.com

This press release is marketing material and concerns the CW Investment Partners Fund IV (non-UCITS) (the “Fund”). CapMan Wealth Oy is the Funds’ portfolio manager, and the Fund is managed by CapMan AIFM Ltd. The Fund is intended for professional investors only. This marketing material does not constitute investment advice.

Categories: News

Synex Propels Its Growth with Two Renowned New Shareholders

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CDPQ and Ares Invest in the Leading Independent Brokerage Firm

Synex Business Performance (Synex), a rapidly growing player in the independent insurance brokerage sector across Canada, is proud to welcome two renowned institutional investors, the Caisse de dépôt et placement du Québec (CDPQ) and Ares Management Credit funds (Ares), as minority shareholders.

In less than five years, Synex has become one of the largest groups of insurance brokers in Canada, with more than twenty firms and over 700 employees, generating over $1 billion in annual premium volume. Thanks to its unique model, Synex has quickly developed a solid reputation and established strong relationships across the insurance industry, with both insurers and brokers.

The investment by CDPQ and Ares is expected to enable Synex to further accelerate its growth through acquisitions, strengthen its already well-established footprint across Canada, and penetrate new markets. The company aims to double its size in the coming years.

“More than ever, Synex is establishing itself as a leading player in insurance brokerage in Canada. We believe the support of CDPQ and Ares sends a strong signal: our model and vision work and are seeking to redefine the future of independent brokerage. We approach this new stage with great enthusiasm.”
— Yan Charbonneau, President and Chief Visionary Officer of Synex

“With this transaction, CDPQ is supporting Synex in its ambitious growth plan through both equity and debt financing. We are proud to now stand alongside this Quebec-based player in its acquisition-driven expansion across Canada, together with Ares, a long-standing partner of CDPQ.”
— Kim Thomassin, Executive Vice-President and Head of Québec, CDPQ

“We are excited to support Synex in further enabling the continued execution of their growth strategy. Our relationship with Synex underscores Ares’ ability to combine our deep knowledge of the insurance sector with our ability to deliver scaled and flexible capital solutions.”
— Scott Rosen, Partner at Ares

A Local Presence, A National Strength

Thanks to the strength of the group, Synex is able to offer diversified and competitive insurance products from a wide range of insurers. The client is thus at the heart of priorities, benefiting from objective advice, a wide choice of products, expertise, and an even more competitive offer. By combining the diversity of the offer with enhanced negotiating power through volume, Synex offers a rare balance between the agility of local firms and the advantages of a large group.

Operating nationwide through approximately 20 firms specializing in property and casualty insurance and group insurance, Synex generates a significant annual premium volume, with half of it coming from Quebec.

With this new leverage, Synex intends to continue its expansion, consolidate its leadership position, and multiply opportunities for its firms, employees, and clients.

About Synex Business Performance

Synex Business Performance is a Canadian consolidator founded in Quebec in 2020, operating under the brands Synex Insurance and Synex Group Solutions. Majority-owned and led by Quebec interests, Synex now includes more than 20 brokerage firms specializing in commercial and personal property and casualty insurance, group insurance, and financial services. Its mission is to preserve the independence of brokerage in Canada and give entrepreneurs greater control over their future by offering cutting-edge expertise and services tailored to partner firms. Synex is also a member of the Canadian Broker Network and the American network Intersure. synexcorp.com

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2024, CDPQ’s net assets totalled CAD 473 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles.

As of December 31, 2024, including the acquisition of GCP International which closed on March 1, 2025, Ares Management Corporation’s global platform had over $525 billion of assets under management, with operations across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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smartTrade Announces Strategic Investment from TA alongside CEO and Management

HG Capital

AIX-EN-PROVENCE, France, 3rd April. smartTrade Technologies (“smartTrade”), a leading global provider of multi-asset electronic trading and payments platforms, today announced the entering into of an agreement in relation to a strategic investment from TA Associates (“TA”), a leading global private equity firm. David Vincent, CEO and Co-Founder of smartTrade, and the broader management team, would invest alongside TA at closing, reinforcing their shared commitment to the company’s future.

Headquartered in Aix-en-Provence, France, with subsidiaries in London, Paris, Geneva, New York, Toronto, Tokyo and Singapore, smartTrade empowers customers to grow their electronic trading and payments business through secure, cost-efficient and technologically advanced end-to-end SaaS solutions. TA’s investment would support continued product innovation, geographic expansion and scalable growth, with a particular emphasis on AI-driven solutions and deployment flexibility.

Upon completion of the transaction, Hg, a leading investor in European and transatlantic software and services businesses, would fully exit its majority investment in smartTrade. The transaction will be subject to customary workers’ council consultation process under applicable laws.

David Vincent, CEO & Co-Founder of smartTrade, said: “Our customers have always been our North Star and this partnership with TA will enhance our ability to serve them with innovative trading and payments solutions. My decision to invest alongside the management team and TA underscores our shared belief in smartTrade’s trajectory. We’re grateful to Hg for their strategic support over the past five years. During that time, we doubled our revenue, executed our first acquisition which strengthened our presence in North America, and laid the foundation for scalable growth. Looking ahead, we are committed to driving the next wave of client-centric innovation, including accelerated AI adoption and greater flexibility in hosting and execution, to meet our customers’ evolving needs.”

“smartTrade has firmly established itself at the forefront of electronic trading and payments technology. We believe the company’s market-leading solutions, culture of innovation and unwavering commitment to client success have positioned it well for continued growth,” said Max Cancre, Managing Director at TA. “We look forward to partnering with David and the whole smartTrade team as they continue to scale globally and drive further advancements for the capital markets industry,” added Morgan Seigler, Managing Director at TA.

Sebastien Briens, Partner at Hg, said: “We’ve worked in close partnership with smartTrade since 2020, helping to strengthen its position as the best-in-class modern trading and payments technology vendor. We thank David Vincent and his team for their impressive execution and continued focus on innovation, and we wish them well in their next phase of growth.”

Terms of the transaction are not disclosed. smartTrade was advised by Arma Partners. Houlihan Lokey and Deutsche Bank were advisers to TA Associates.

-Ends-

For further information, please contact:

TA

Maggie Benoit, mbenoit@ta.com

Hg

Tom Eckersley, tom.eckersley@hgcapital.com

Sam Ferris, sam.ferris@hgcapital.com

About TA

TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come.

Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $75 billion in funds under management support a portfolio of around 50 businesses, worth over $160 billion aggregate enterprise value, with around 115,000 employees, consistently growing revenues at more than 20% annually.

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Carlyle and SK Capital Partners Announce Extension of bluebird bio Tender Offer to April 18, 2025

Carlyle

WASHINGTON, DC and NEW YORK, NY—April 3, 2025—Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) today announced that Beacon Merger Sub, Inc. (“Merger Sub”) has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding common stock of bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), to expire at one minute after 11:59 p.m., New York City time, on April 18, 2025.  The Offer was previously scheduled to expire one minute after 11:59 p.m., New York City time, on April 4, 2025. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer, including receipt of applicable regulatory approvals.

Equiniti Trust Company, LLC, the depositary for the Offer, has advised Merger Sub that as of the close of business on April 2, 2025, approximately 65,120 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated March 7, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), the related letter of transmittal and certain other offer documents, copies of which are attached to the tender offer statement on Schedule TO filed by Parent and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2025, as amended.

The Offer is conditioned upon the fulfilment of certain conditions described in “Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the tender of a majority of the outstanding shares of bluebird, receipt of applicable regulatory approvals, and other customary closing conditions.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com. 

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird. The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

978-621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

857-299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

+1 (212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

+1(646)-278-1353  

bdillon@skcapitalpartners.com

Categories: News

Blackstone Life Sciences and Anthos Therapeutics Announce Novartis has Completed the Acquisition of Anthos Therapeutics in a Deal Valued at up to $3.1B, with $925M Paid Upfront

Blackstone

The deal affirms Blackstone’s vision of building companies around innovative products to meet unmet patient needs

CAMBRIDGE, Mass., April 03, 2025 – Blackstone Life Sciences and Anthos Therapeutics, Inc., a transformative, clinical-stage biopharmaceutical company developing innovative therapies for the treatment of cardiometabolic diseases, announced today that Novartis has completed its acquisition of Anthos Therapeutics in a transaction valued at up to $3.1 billion.

Anthos was founded by Blackstone Life Sciences and Novartis in 2019 with the exclusive global rights from Novartis to develop, manufacture, and commercialize abelacimab, a novel Factor XI inhibitor that originated at Novartis. Abelacimab is currently in Phase 3 clinical development for the prevention of stroke and systemic embolism in patients with atrial fibrillation (LILAC-TIMI 76), in addition to two phase 3 studies in patients with cancer-associated thrombosis (ASTER and MAGNOLIA). Data from these trials are expected in the second half of 2026.

Transaction Details
Anthos shareholders will receive up to $3.1 billion in total deal value, including an upfront payment of $925 million, and payments in the event certain regulatory and commercial milestones are achieved.

Advisors
Goldman Sachs & Co. LLC acted as the lead financial advisor to Anthos. Morgan Stanley & Co. LLC also served as a financial advisor, and Goodwin Procter LLP served as legal advisor to Anthos.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $12 billion in assets under management.

About Anthos Therapeutics
Founded by BXLS in 2019, Anthos Therapeutics is a transformative, clinical-stage biopharmaceutical company with exclusive global rights from Novartis Pharma AG to develop, manufacture and commercialize abelacimab. BXLS was the majority investor in the company, joined by other partners including Novo Holdings. For more information about Anthos, visit the Company’s website.

About Abelacimab
Abelacimab is a novel, investigational, highly selective, fully human monoclonal antibody that binds tightly to Factor XI to block its activation and prevent the generation of the activated form (Factor XIa). This mimics natural Factor XI deficiency, which is associated with protection from thromboembolic disease.

Abelacimab received a Fast Track Designation from the FDA in July 2022 for the treatment of thrombosis associated with cancer. In September 2022, abelacimab was also granted a Fast Track Designation for the prevention of stroke and systemic embolism in patients with atrial fibrillation.

Media Contact

Blackstone
Paula Chirhart
Paula.Chirhart@blackstone.com

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the expected benefits of Novartis’ acquisition of Anthos, future opportunities for the combined businesses, the development and commercialization of Anthos Therapeutics’ product candidates and the potential benefits of abelacimab. All statements, other than statements of historical facts, contained in this press release, including statements regarding the company’s strategy, future operations, future financial position, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “become,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Actual results may differ materially because of numerous risks and uncertainties including with respect to (i) the risk that the expected benefits or synergies of the acquisition will not be realized and (ii) the risk that the milestones may not be achieved and resulting payments may not be realized,  and (iii) unanticipated impact of the acquisition, including the response of business partners and competitors to the announcement of the acquisition or difficulties in employee retention. The actual financial impact of this transaction may differ from the expected financial impact described in this press release. In addition, the product candidate described in this press release is subject to all the risks inherent in the drug development process, and there can be no assurance that its development will be commercially successful. No forward-looking statement can be guaranteed. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof and should not be relied upon as representing the company’s views as of any date subsequent to the date hereof. The company anticipates that subsequent events and developments will cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so.

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Artis BioSolutions Emerges from Stealth, Announces Acquisition of Landmark Bio

Oak HC FT

Landmark acquisition positions Artis to revolutionize advanced therapy manufacturing and commercialization

Artis BioSolutions, a company founded to streamline the discovery, development and production of genetic medicines, today announced its launch, alongside its acquisition of Landmark Bio. Landmark Bio is a cell and gene therapy manufacturing company specializing in translational research, process development, and manufacturing technologies. As a part of Artis, Landmark Bio will continue to operate as a distinct entity, focused on accelerating therapeutic development from preclinical through commercialization.

Complex genetic medicines are the fastest-growing therapeutic category, yet there is a shortage of high-quality service providers to support drug development in the space. Contract Development and Manufacturing Organizations (CDMOs) that truly understand the development, scaling, and regulatory hurdles of advanced therapies are often difficult to access, particularly for companies and researchers working in discovery and early-phase development.

Landmark Bio, founded by leaders from industry, academia and leading research hospitals from the greater Boston area, has developed significant scientific and technical capabilities that aim to remove bottlenecks and increase speed-to-clinic for developers of advanced therapies. Since 2021, Landmark Bio has delivered numerous successes for its partners, enabling the advancement of complex cell and gene therapies from bench to clinic.

“Landmark Bio was born from a bold vision shared by our founding partners – to remove barriers in the manufacturing of advanced therapies and accelerate the development of life-changing medicines. In just a few short years, we’ve built a world-class team and capabilities that have become a vital force in the life sciences innovation ecosystem. Joining Artis BioSolutions marks an exciting new chapter for Landmark Bio. Together, we will stay true to our mission as we scale our operations to bring breakthrough therapies to more patients,” said Ran Zheng, chief executive officer (CEO) of Landmark Bio.

With the acquisition of Landmark Bio, Artis BioSolutions is well-positioned as a premiere CDMO for advanced therapy developers looking for end-to-end capabilities within the underserved and fast-growing category of advanced therapies. From critical materials to technologies and manufacturing experience, Artis will support multiple modalities and enable shorter project timelines, lower manufacturing costs, high product quality, efficient supply chain management and the best customer experience.

Artis BioSolutions is led by CEO Brian Neel and CSO Mike Houston, two leaders with deep expertise in deploying best-in-class systems and technologies in the CDMO and broader therapeutics space. Combined with the Landmark Bio leadership team, the leadership at Artis offers unparalleled expertise in translational sciences and clinical research and development.

“Advanced therapies will continue to be a driving force of innovation in the biopharma ecosystem, and we believe the industry is at an inflection point in advancing and developing the critical processes and the manufacturing of these therapies,” said Brian Neel, CEO of Artis BioSolutions. “Landmark Bio has a proven track record of leading advanced therapies through clinical development, and we are excited to build on this foundation with the support of Oak HC/FT.”

Initial funding for Artis is provided by Oak HC/FT. Brian, Mike and team will use this funding to further build out the services and technology platform and fuel future growth.

“Brian and Mike are exceptional leaders with deep domain expertise and experience hyper-scaling advanced therapy tools and services companies,” said Andrew Adams, Co-Founder and Managing Partner at Oak HC/FT. “We are proud to partner with them on this journey to unlock new possibilities in the industry with Artis BioSolutions.”

“We see a tremendous opportunity to transform biomanufacturing at scale, and the Artis BioSolutions team has both the innovative drive and operational excellence to make it a reality. We are proud to support the team as they build this platform,” said Andy Smith, Partner at Oak HC/FT.

About Artis BioSolutions

Artis BioSolutions mission is to advance genetic medicines and biologics from early development to market. Designed to support breakthrough treatments, we offer innovative technology, deep expertise, and a client-focused approach to streamline processes, improve efficiency, and scale across various therapeutic areas. Backed by Oak HC/FT, a leading venture and growth equity firm, we empower biopharma companies to bring life-changing therapies to patients faster. Visit us at artisbiosolutions.com.

About Landmark Bio

Landmark Bio is a collective endeavor launched by leaders from academia, the life sciences industry, and world-renowned research hospitals to accelerate the development and industrialization of novel therapeutics. Inspired by recent advancements in cell and gene therapy, Landmark Bio was established to remove barriers in drug development, create accessible capability, expertise, and solutions, and offer a collaboration platform to advance manufacturing technologies for the new generation of medicines to come. Founding partners include Harvard University, Massachusetts Institute of Technology (MIT), Cytiva, FUJIFILM Diosynth Biotechnologies (FDB), and Alexandria Real Estate Equities, Inc. Other collaborating institutions include Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Mass General Brigham, and the Dana-Farber Cancer Institute. For more information, visit landmarkbio.com.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

Categories: News

Joint Venture Between Warburg Pincus and Eastgate Group Completes Shinagawa Seaside Acquisition

Warburg Pincus logo

This Marks the JV’s Third Transaction to Meet the Growing Tenant Demand for Life Sciences and R&D Real Estate in Japan

Tokyo, April 3, 2025 – Warburg Pincus, the pioneer of private equity global growth investing, and Eastgate Group, one of Japan’s largest privately owned real estate investment managers, today announced the acquisition of Shinagawa Seaside West Tower by their joint venture (“JV”) and the unveiling of the GRC brand for the JV’s properties. This acquisition represents the third transaction under the venture since its inception in 2023, expanding the portfolio to include high-quality innovation and R&D assets in both Yokohama and Tokyo.

In 2023, Warburg Pincus, through the Warburg Pincus Asia Real Estate Fund (“WPARE”), and Eastgate Group, through Eastgate Capital Management, established the JV to leverage their combined expertise to address the significant undersupply of specialist real estate for lease to tenants in the life sciences, hi-tech, and manufacturing industries across Japan’s key cities. With the Shinagawa Seaside acquisition, the joint venture now manages over 1 million square feet of gross floor area and has over US$300 million of assets under management.

Operated under the GRC brand, the venture’s assets are strategically located in major innovation and R&D hubs, catering to a diversified tenant base across a wide range of industries seeking to attract and retain high-skilled talent. From designing and delivering bespoke spaces to managing specialized properties, GRC is committed to delivering state-of-the-art infrastructure, including a wide range of spaces with modular unit sizes and both dry and wet labs, to meet the evolving needs for high-quality, high-specification space of both international and domestic tenants.

In November 2023, the venture acquired its first asset, GRC Yokohama Bay Research Park, a 17-storey mixed-use commercial building spanning over 540,000 square feet of gross floor area. The property currently houses a large number of tenants from specialist industries, such as engineering, technology, government research, and manufacturing, offering base specifications suitable for both wet and dry lab use. Building on the success of Yokohama Bay Research Park, the venture acquired the soon-to-be-renamed GRC Yokohama Science Cube in December 2024. This 78,000 square feet facility, located adjacent to Center Kita Station in Yokohama, is set to be transformed into a cutting-edge R&D and medical facility. The latest acquired asset, Shinagawa Seaside West Tower, is an 18-storey commercial building in Tokyo’s Shinagawa district. It offers over 410,000 square feet of gross floor area with superior structural specifications, capable of accommodating both dry and wet labs up to biosafety level 2.

Aligned with the venture’s strategy, GRC properties aim to deliver the consistent quality and service demanded by tenants operating critical on-site functions. Key features include customized spaces, dedicated mechanical and engineering riser spaces for ventilation, requisite water, gas and power provisions, heavy-duty floor loading and goods elevators, and specialist building operations to accommodate the daily needs of tenants.

Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, said, “We have built a high conviction in Japan’s life sciences and R&D real estate sector, which is underpinned by several secular trends including a rapidly aging population, strong growth in the healthcare market, and a significant shortage of R&D and lab space for lease. Both Warburg Pincus and Eastgate are early movers in the life sciences and R&D space with over 20 years of combined experience in investing in and managing such assets. By leveraging Warburg Pincus’ deep platform-building experience and operational expertise and Eastgate’s strong track record and local resources, we believe that GRC is well-positioned to meet the evolving needs for high-quality, specialized life sciences and R&D facilities in Japan among a diversified group of tenant base.”

Shozo Sekine, Founder and CEO of Eastgate Group, said, “As one of the first movers in this space, having managed R&D assets for more than 15 years, we have observed first-hand the critical undersupply of high-quality, well-managed R&D facilities and the resulting rental premium they command. We are excited to partner with Warburg Pincus to establish this joint venture in Japan, leveraging Eastgate’s extensive operational expertise, strong track record in the sector and deep local knowledge with Warburg Pincus’ proven experience, global resources and established track record in scaling real estate platforms in Asia. We look forward to capitalizing on our combined strengths to support GRC’s continued growth and deliver long-term value to our tenants and investors.”

To learn more about GRC, please visit www.grcproperties.com

***

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 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.

Warburg Pincus began investing in Asia real estate in 2005. Today, it has become one of the largest and most active investors in the region, with over US$9 billion invested in more than 50 real estate platforms and ventures. The firm is a pioneer of platform investing and has co-founded or sponsored leading platforms alongside best-in-class entrepreneurs such as ESR, DNE, Vincom Retail, BW Industrial, Princeton Digital Group, Weave Living, Vita Partners and StorHub.

About Eastgate Group

Eastgate Group is one of Japan’s largest privately owned real estate investment managers, with over JPY700 billion in assets under management. Headquartered in Tokyo, Eastgate employs over 70 professionals based in Japan and Singapore, and operates across all major cities and real estate sectors in Japan. Eastgate also manages assets on behalf of, and invests, alongside Japanese investors, in key global cities including Sydney, Brisbane, Los Angeles, and London. For more information, please visit www.eastgate-group.com

Media Contact

Warburg Pincus

Lisa Liang

Senior Vice President, Asia Head of Marketing and Communications, Warburg Pincus

lisa.liang@warburgpincus.com

Eastgate Group

Christopher Chiang

Chief Executive Officer, Eastgate Capital Management

cchiang@eg-cap.com

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