Category Archives: News

Almi Invest sells software company input port to Addnode Group

Almi Invest

Almi Invest makes an exit and sell its stake in software company input port to Addnode Group, together with the other owners. Inport develop logistical solutions for ports, terminals and shipping companies. The company is the leading supplier in its market segment with sales of about 25 million.

Inport headquartered in Karlstad has expanded greatly in recent years and the customer list has grown to include important logistics hubs such as Copenhagen and Stavanger. The company has its own software suite PORTIT used by more than 90% of the Swedish port companies. Through the development of digital services has hmarknadspositionen strengthened.

– Almi Invest invested in 2014 and has, through active Board work contributed to a change in strategy with increased digitization of InPort services, says Ulf Green, Fund Manager at Almi Invest. This has resulted in increased competitiveness and strong growth. The success is largely due to the staff and management of the company as well as to develop services in close cooperation with customers. With multiple sales multiple on invested capital will free up risk capital for further investments in early growth.

– Our ports play a socially critical role in view of its importance for modern sustainable logistics chains and the proper functioning import and export business. With input port on board strengthens Addnode Group’s position as the leading provider of software solutions for sustainable cities and communities, says Andreas Wikholm, head of Addnode Group Process Management.

– It feels great to pass the torch to the Addnode Group, says Ulf Green. It is an experienced and qualified buyers who means stability and increased resources for InPort customers.

Addnode Group acquires, operates and develops the entrepreneurial company that provides software and services to markets in which Addnode Group has, or can take a leading position. Addnode Group is listed on the Nasdaq Stockholm.

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GSO to Launch New Direct Lending Business; Announces Transition Plan for FS Investments Funds

Blackstone

New York, December 11, 2017 – GSO Capital Partners LP (together with its credit-focused affiliates “GSO”), Blackstone’s (NYSE: BX) credit platform, today announced that it will launch a new, fully integrated, internal direct lending business – combining the firm’s superior origination and investment capabilities in this area with its industry-leading institutional and retail distribution channels.

Bennett Goodman, Co-Founder of GSO Capital Partners and Senior Managing Director of Blackstone, said: “Given the evolution of our firm, moving ahead independently to control our own destiny in this area was the right decision for our business. Bringing together our direct lending investment expertise with our strong institutional and growing retail distribution capabilities represents an extremely powerful combination. Our shareholders will also now receive a much larger share of the value we create through managing these types of portfolios.”

Concurrently, GSO will be concluding its investment sub-advisory relationship with FS Investments’ funds (the “FS Funds”) effective April 9, 2018. During the interim, GSO will continue to provide investment services to the FS Funds and help ensure a smooth transition. In consideration of such services and GSO’s partnership with FS Investments in the FS Funds’ business over the last decade, GSO will receive payments totaling $640 million from FS Investments, substantially all of which are expected to be paid in 2018. Blackstone anticipates utilizing those cash proceeds for the benefit of its shareholders and will provide additional details on those actions early next year.

The $640 million in cash proceeds represent approximately three years of revenues from the FS Funds.  In addition, GSO expects to begin its new direct lending business and generate additional revenue in 2018. GSO anticipates that its internal direct lending business will fully replace, and ultimately exceed, the current revenues and earnings to Blackstone shareholders from the FS Funds.

Goodman added: “We thank FS Investments for their partnership over the years and wish them the best going forward. We are proud of the investment performance and portfolio construction of the funds and are committed to working with FS to make sure there is a smooth transition.”

From the formation of the GSO and FS Investments partnership in 2008, the direct lending FS Funds have generated strong performance, exceeding substantially all of the relevant market benchmarks. For the FS Investment Corporation (FSIC) fund, the oldest fund in the complex, annualized net returns have been 12.4 percent since inception.


About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact:
Matt Anderson
+1-212-390-2472
matthew.anderson@blackstone.com

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EDF Invest announces an investment into real estate property Ecowest

EDF Invest

EDF Invest announces an investment into Ecowest, a real estate property located in Levallois-Perret mainly rented to the luxury division of L’Oréal. This brand new 59,000 sqm office building with 1,085 parking lots, delivered in June 2017, benefits from both « BREEAM » and « HQE exceptional » environmental certifications.

About EDF Invest

EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest manages a portfolio of over €5bn equity investments through three asset classes: infrastructure, real estate and private equity.

 

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Categories: News

CapMan has established a MEUR 86 fund focusing on growth investments

CapMan has established a MEUR 86 growth investment fund that focuses on minority investments in unlisted companies with strong growth potential. The investors of the fund are, among others, successful entrepreneurs who want to support Finnish entrepreneurship in a new way. The investor demand for the fund has exceeded our expectations and the fund was clearly oversubscribed.

The successful fund raising demonstrates the investor appetite for active minority investments. CapMan Growth Equity team’s track record is strong, as demonstrated by strong value creation in eight portfolio companies and several successful exits. The newly established fund aims to invest MEUR 2-10 to the target company and develop it for 2-5 years together with the entrepreneur. Minority investing is a good option e.g. in a situation where there are ownership changes in the company or when the growth of the company can be accelerated by additional capital. Minority investing is targeted typically into companies that have passed the start-up phase.

In conjunction with the establishment of the fund CapMan sells its shares in six growth companies to the fund for MEUR 26.6 and makes a corresponding equity commitment into the fund. The sales price is based on the fair values of the investments and does not have a profit impact.

Juha Mikkola and Antti Kummu are two experienced private equity professionals who are responsible for the new fund’s investment activity. Mikkola has 25 years of experience in private equity. During his career he has helped to build dozens of successful companies. Kummu has extensive experience of both operative management and minority investments in growth stage and industrial companies. Kummu has previously acted as CFO of Touhula Varhaiskasvatus and as Director in Finnish Industry Investments.

“Minority investing is a new way to use external know-how to accelerate the growth of a company. We in the CapMan Growth Equity team closely co-operate with the entrepreneur and we also have support from a broad group of fund investors that possess unique know-how of developing and growing companies,” says CapMan Growth Equity team’s Managing Partner Juha Mikkola.

“Minority investing differs from traditional private equity investments as the entrepreneur maintains the majority ownership and decision-making power in the company, but still receives the know-how and financing from the investor that helps to grow the business further,” explains Antti Kummu, partner in CapMan Growth Equity team.

“I am very proud of our newly launched growth investment fund and of our Growth Equity team. We at CapMan create new products and investment strategies, which resonate with the market demand and meet the needs of our clientele in the best possible way,” says Joakim Frimodig, CEO of CapMan.

For further information, please contact:
Juha Mikkola, Managing Partner, Growth Equity, CapMan Plc, tel. +358 50 590 0522
Antti Kummu, Partner, Growth Equity, CapMan Plc, tel. +358 50 432 4486
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665 

CapMan
www.capman.com
twitter.com/CapManPE

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 28 years. CapMan has today 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit and Infrastructure. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.   

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Arachas makes second acquisition since being backed by Sovereign

Sovereign Capital

Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce that portfolio company Arachas Corporate Brokers (“Arachas”), a leading insurance brokerage operating in Ireland, has acquired Kidd Insurances (“Kidd”). This is the second acquisition Arachas has made since Sovereign backed the management buy-out of the business earlier this year and makes the group the third largest commercial insurance broker in Ireland. Sovereign will continue to work with the management team to further grow and develop the business through a strategy of Buy & Build. The transaction is subject to approval from the Central Bank of Ireland.

Kidd Insurances is one of Ireland’s longest established Insurance brokers serving both the retail customer and broker community with its specialist affinity insurance product range. The transaction closely follows Arachas’ acquisition of Capital Cover Group. The combined group will employ approaching 230 staff across its offices in Dublin, Cork and Waterford.

Neil Cox, Partner, Sovereign Capital commented: “We are delighted to have supported Arachas’ acquisition of Kidd which is a high quality, long established operator.  The transaction both develops the Group’s product offering and further consolidates its position in the Irish market. We look forward to working with the management team to further expand the Group.”

Donal Cronin, CEO of Arachas said: “We are delighted to have acquired Kidd. They mirror our philosophy of providing the very best in customer service and focus on niche Insurance solutions with their unique product range. In partnership with Sovereign, we will continue to develop the business through strong organic growth and further acquisitions of like-minded brokers.”

Other portfolio investments held by Sovereign in the financial services and insurance sectors include Kindertons, the nationwide provider of outsourced accident management services for motor insurers and insurance brokers. Since being backed by Sovereign, Kindertons’ revenue has tripled to over £150m.

For further information please contact: Julie Sieger, Sovereign Capital, on +44 (0)20 7340 8800 or email:juliesieger@sovereigncapital.co.uk

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Partners Group acquires 4 million square feet of US office space valued at over USD 1 billion

Partners Group

Partners Group, the global private markets investment manager, has acquired a total of 4 million square feet of office space in the US on behalf of its clients since the start of the year. This US office portfolio has a total acquisition value of over USD 1 billion.

In May, Partners Group acquired 100 Peachtree, a 33-story and over 622,000 square foot office tower located in Atlanta, Georgia. In June, the firm acquired Burns and McDonnell Plaza, a Class A office building in Houston, Texas, while in October, it acquired Island Center and Waterford Plaza, two Class A office buildings in Tampa, Florida. Most recently, Partners Group completed its acquisition of a 26-story, 403,000 square foot office tower located in Buckhead, Atlanta’s leading office submarket.

In addition, Partners Group recently completed the acquisition of a 2.2 million square foot portfolio of Class A office properties located in select suburban markets in Dallas, Chicago, Washington D.C., Austin and Boston via a tail-end liquidity transaction.

Partners Group will draw on its long track record of experience in real estate asset management to execute value-added business plans for the acquired properties in conjunction with local operating partners. Value creation initiatives will vary but will typically include increasing the buildings’ occupancy to market levels, renewing leases and upgrading amenities and common areas to meet the changing demand of current and future tenants.

Ron Lamontagne, Managing Director and Head of Private Real Estate Americas at Partners Group, comments: “In the US, our sourcing efforts in the office sector have been concentrated on finding properties in secondary CBD markets that are benefitting from corporate relocations, job growth and associated infrastructure improvements. These investments are in line with our over-arching strategy of acquiring high-quality assets in strong locations that could benefit from a repositioning, or other active property management and value creation initiatives to drive net operating income.”

Marc Weiss, Partner and Head of Private Real Estate Secondaries and Primaries at Partners Group, adds: “This substantial US office portfolio has been built by Partners Group’s ‘one team’ approach to real estate investing, which encourages dialogue between our direct, primary and secondary team members. Our approach emphasizes the importance of proprietary sourcing through our network of local asset owners, GPs and operators, in order to avoid the highly competitive auction processes that tend to characterize transactions in the core space and traditional secondaries market.”

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Blackstone Acquires a Majority Stake in Leading Data Classification Provider TITUS

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New York, New York, December 7, 2017 – Blackstone (NYSE: BX) today announced that funds managed by Blackstone Tactical Opportunities have acquired a majority share in TITUS, a leading provider of data classification and categorization solutions headquartered in Ottawa. Terms of the transaction were not disclosed.

Viral Patel, Managing Director at Blackstone Tactical Opportunities, said: “We are excited to combine Blackstone’s flexible capital and experience with TITUS market-leading solutions to continue to transform data-centric security. With data breaches at an all-time high, each day brings another example of the importance of protecting information.”

“Digital transformation and the cloud mean information increasingly travels outside of the corporate perimeter, and information security must now be based around the data itself,” said James Socas, Blackstone Executive Advisor. “TITUS solutions are a critical component of data-centric protection.”

Titus

TITUS is a leading provider of data classification and categorization solutions, with millions of users in over 70 countries worldwide. Its platform-agnostic solutions enable organizations to bridge multiple data security solutions prevalent in most large organizations to ensure documents and files are protected. TITUS solutions empower and enable employees to understand the value of critical data and how it must be handled. This is particularly important as compliance regulations, such as GDPR and NIST, raise the bar on data protection standards. TITUS has over 950 enterprise customers, including 3 of the top 25 global financial institutions and government and military organizations in 5 of the G7 countries.

“Since our inception in 2005, we have focused on data-centric security working with leading organizations around the world,” said Tim Upton, CEO and co-founder of TITUS. “Partnering with Blackstone will allow us to expand our geographic reach and to accelerate our innovation strategy with the backing of one of the world’s leading investment firms.”

TITUS was founded in 2005 and was bootstrapped until this investment by Blackstone.

AGC Partners served as financial advisor and Gowlings WLG served as legal advisor to TITUS.  Davies Ward Phillips & Vineberg LLP served as legal advisor to Blackstone.


About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic investment platform.  The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities.  As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.

About TITUS
TITUS solutions enable organizations to discover, classify, protect, analyze and confidently share information. Organizations can use TITUS products to meet regulatory compliance requirements by identifying and securing unstructured data – on the desktop, on mobile devices, and in the cloud. Millions of users in over 120 countries around the world trust TITUS to keep their data compliant and secure. Its customers include Safran Morpho, United States Air Force, NATO, Pratt and Whitney, and Canadian Department of National Defence. Additional information is available at TITUS.com.

MEDIA CONTACTS:

Blackstone:
Paula Chirhart
+1-212-583-5011
paula.chirhart@blackstone.com

TITUS:
Sheri Zelle
+ 1 613-857-1725
sheri.zelle@titus.com

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Blokker Holding and Alteri Investors complete sale of Intertoys

Amsterdam, Mayfair (UK), December 4, 2017 – Blokker Holding and Alteri Investors finalised the latter’s acquisition today of Dutch toy retailer Intertoys (including all its Bart Smit and Toys XL stores), making Alteri the retailer’s new owner. The competition authorities have granted the required authorisation and the recommendation process by the Works Councils has been completed. No further details will be disclosed regarding the size of the transaction.

This transaction is in line with the strategic reorientation previously announced by Blokker Holding. Alteri Investors regards the acquisition of the Intertoys chain as a valuable addition to its portfolio and intends to use all its experience, knowhow and capital to further transform Intertoys into a customer-centric omnichannel retail business.

About Intertoys

Intertoys – founded in 1976 in Gouda – operates around 500 stores (including more than 100 franchise) across the Netherlands, Belgium, Germany and Luxemburg, with one or more webshops in each country. Intertoys has implemented several modernisation and restructuring activities. In 2015 Blokker Holding announced the integration of the Intertoys and Bart Smit head offices and the instalment of one single management team for both retail brands. In June 2016 Blokker Holding announced the full integration of Intertoys, Bart Smit and Toys XL into one single brand: ‘Intertoys’. The conversion of Bart Smit stores to the Intertoys brand has now been completed in the Netherlands with the exception of 13 stores in the Netherlands and the Bart Smit stores in Belgium. Toys XL stores will be converted to Intertoys before the end of the year. Ahead of this year’s peak season, Intertoys will also implement several innovating omnichannel propositions and improvements to its online platforms. The majority of stores are located in the Netherlands. Intertoys has more than 4,000 employees and recently introduced several pilot stores in the Netherlands.

About Blokker Holding

Blokker Holding is a retail company focussing on household goods and toys. Blokker Holding currently has five retail formulas (Blokker, Big Bazar, Xenos, Maxi Toys and Marskramer) with more than 1,370 stores in eight countries and circa 14,000 employees. On 16 May 2017, Blokker Holding announced its decision to focus entirely on the Blokker retail chain in the Netherlands and Belgium and to sell the company’s other retail companies Xenos, Leen Bakker, Intertoys, Maxi Toys and Big Bazar. Retail chain Marskramer will continue as a franchise format and wholesale organisation. In July 2017 Blokker Holding completed the sale of Leen Bakker to Gilde Equity Management. Nextail, the online organisation servicing all of Blokker Holding’s retail companies, continues to service Leen Bakker and Intertoys through service level agreements. More information: www.blokkerholding.nl.

Contact

Blokker Holding

media@blokkerholding.nl,
Sandra Maas

+ 31 (0)20 358 90 33

Alteri Investors

The Netherlands

SPJ Financiële & Corporate Communicatie,
Kees Jongsma, Wim Moerkerk
+ 31 (0)20 647 8181

UK

Maitland

Tom Eckersley
+44 (0)207 379 5151

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EQT Real Estate expands French portfolio with 13,600 sqm office investment in Paris

eqt

  • EQT Real Estate’s third acquisition in Paris – a 13,600 square metre office property for a price in excess of EUR 70 million
  • The property, located in the 13th arrondissement, offers attractive value add opportunities through partnerships with existing tenants and the potential to upgrade in future
  • The investment represents EQT Real Estate’s sixth investment to date

The EQT Real Estate I fund continues to invest in established European office markets and today announces the acquisition of a multi-let office property located at Rue du Chateau des Rentiers in Paris. The seller is an affiliate of Jerusalem Economic Corporation, an Israeli stock exchange company.

The 13th Arrondissement is an attractive mature area predominantly occupied by French and international institutional tenants. The site is within close proximity to key Metro lines and the area has benefitted from strong investment in recent years. The asset, built in 1987, comprises of 13,600 square metre of office and storage space, a corporate restaurant and 245 parking spaces. The property is fully let to tenants at competitive rents.

Olivier Astruc, Director at EQT Partners and Investment Advisor to EQT Real Estate I, says: “Rue du Chateau des Rentiers presents a rare opportunity to upgrade an historic office site in an attractive inner Paris location. This acquisition further underpins our investment strategy to deliver grade A assets fit for modern occupiers and institutional investors”.

Robert Rackind, Partner and Head of EQT Real Estate at EQT Partners and Investment Advisor to EQT Real Estate I continues: “The Rue du Chateau des Rentiers investment is exactly what EQT Real Estate is all about – underinvested assets in European gateways cities with several value add angles. We see more opportunities than ever for the fund to continue on this successful track and take advantage of the sustained global demand and local needs that exists in these markets”.

EQT Real Estate I was advised on the acquisition by investment advisors Syzygy Advisors, notaries Lasaygues & Associés, acquisition and debt lawyers Ashurst, structuring advisors Arsene Taxand, capital market advisors Savills, technical advisors JLL Project & Development Services and project managers (AMO) Builders & Partners. Etoile Property Management will be property manager for the asset. Aareal Bank financed the acquisition and was advised by notaries Allez and lawyers De Pardieu Brocas Maffei. The vendor was advised by its asset manager Etoile Property Services and by Maitre Virginie Jacquet, 1768 Notaires.

Contacts

Olivier Astruc, Director at EQT Partners, Investment Advisor to EQT Real Estate I , +44 20 8432 5426

Robert Rackind, Partner and Head of EQT Real Estate at EQT Partners and Investment Advisor to EQT Real Estate I, +44 207 430 5555

EQT Press Office +46 8 506 553 34

About EQT

EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I

EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

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Moda Operandi secures $165 million in growth capital co-led by Adrian Cheng and Apax Digital

Apax Digital

New York, NY December 6, 2017 – Moda Operandi, the first online luxury retailer to provide consumers access to full collections straight from the runway, today announces the completion of $165 million in growth capital to fuel continued international growth and increased development across several key business verticals. The new round was co-led by Adrian Cheng (through his investment vehicles – C Ventures and K11 Investment), whose family businesses include Chow Tai Fook Jewellery, New World Development, Rosewood Hotel & Resorts and K11; and Apax Digital, a new growth capital fund advised by the global private equity firm Apax Partners. Existing investors include New Enterprise Associates, LVMH and Fidelity, among others.

This significant new round of funding confirms investors’ confidence in the continued global expansion of Moda Operandi’s unique business model, and will support the acceleration of its international business with particular focus in key markets including Asia and the Middle East. Since their last round of funding in 2014, the business has increased by more than 3.5x, with international markets now representing more than one-third of total demand as led by Asia and the Middle East. Expansion of Moda Operandi’s showroom concept and stylist program will aid in continued international growth as the high-touch client services complement the high-tech business approach.

Additionally, the new funds will be used for key categories expansion and the launch of new businesses. The funding will also accelerate improvements in mobile technology, advancements in customization, personalization, and internationalization. Lastly, the funding is to support Moda Operandi’s strategies across marketing, customer acquisition programs as well as further develop the existing brand portfolio and expand new brand relationships.

Speaking on the occasion of the announcement, Moda Operandi’s CEO, Deborah Nicodemus, said: “Moda Operandi is the only multi brand e-commerce site where the shopping experience is dedicated to elevating the brand’s digital presence. Our continued success demonstrates the strength of our business, and gives new and existing investors the confidence in our capacity to pursue tremendous global growth. We look forward to continuing the momentum behind the transformation of the online luxury experience for our global clients. Through the leadership of the Moda team, and the bench strength of our existing investors coupled with the new partnership of Adrian Cheng and Apax Digital, we are defining the future of luxury ecommerce.”

Dan O’Keefe, Managing Partner of the Apax Digital team, said: “We are delighted to partner with Moda to help accelerate this next phase of its growth. We have been so impressed with the power of Moda’s brand and its positioning in the luxury market. Our partnership further confirms our commitment to growth within the luxury digital arena. We believe our unique operating capabilities and global platform can help drive the business even further and accelerate its international presence.”

Adrian Cheng, Co-Founder of C Ventures and Founder of K11 Investment, said: “I am hugely excited about Moda Operandi as an investment prospect. Its business model is cutting edge, with a curated customer experience that has a lot of potential within C Ventures’ and K11 Investment’s networks of brands, which collides the worlds of fashion, creative media and art to service millennial consumer interests in the global market. I’m looking forward to seeing how the brand grows and taps into this big business opportunity.”

Launched in February 2011, Moda Operandi to date has raised over $132 million in funding ahead of this round.

About Moda Operandi
Moda Operandi is the only place to preorder looks straight from the unedited runway collections of the world’s top designers months before they are available anywhere else. But for those who just can’t wait, Moda Operandi’s Boutique offers an expertly curated selection of in-season items from both established and emerging designers, ready to ship now. In homage to the history of couture, Moda Operandi offers a bespoke shopping experience that includes unprecedented access to your favorite designers, hand selected recommendations from personal stylists, and access to haute couture. Moda Operandi has established a retail renaissance where the time-honored institution of luxury meets an innovative point of view on fashion. For more information visit www.modaoperandi.com.

About Adrian Cheng
Entrepreneur Adrian Cheng is the Founding Partner of C Ventures, a new investment fund focused on building a global ecosystem of Millennials and Gen Z-centred brands and platforms. Cheng also founded K11, a multi-faceted brand rooted in culture that pioneered the museum-retail concept. The Harvard Graduate is also the Executive Director of Chow Tai Fook Jewellery Group, the world’s largest jeweller with over 2,400 shops worldwide. Cheng is the Creative Advisor of arts video channel Nowness and has recently forged a collaboration with tech giant Tencent to expand its co-working space concept outside of Mainland China.

About Apax Digital
Apax Digital is a $1 billion fund raised in 2017 focused on minority and buyout investments in high-growth enterprise technology and internet companies globally.  Advised by Apax Partners, a global private equity firm, Apax Digital’s investments are focused on subsectors where Apax Partners has expertise, including vertical software, data & analytics, tech-enabled services, marketplaces, digital media, and disruptive e-commerce. For further information about Apax Digital, please visit http://digital.apax.com.

Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of $51 billion*. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax Partners, please visit http://apax.com.

* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 30 September 2017.

Media Contacts 

Moda Operandi
Christine Kapp | + 1 646.627.7281 | Christine.Kapp@modaoperandi.com

Adrian Cheng / C Ventures / K11 Investment
Ellie Spicer | +44 (20) 3003 6487 | ellie.spicer@freuds.com
Hep Kwakye-Saka | +44 (20) 3003 6482 | hep.ksaka@freuds.com

Apax Partners / Apax Digital
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst | +1 212 521 4854 | todd.fogarty@kekst.com
UK Media: Matthew Goodman, Greenbrook | +44 20 7952 2000 | mgoodman@greenbrookpr.com

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