Category Archives: News

Partners Group reports AuM of USD 147 billion per end of 2023; increases guidance for gross client demand in 2024

Partners Group

Baar-Zug, Switzerland; 11 January 2024 | Ad hoc announcement pursuant to Art. 53 Listing Rules (LR)

  • USD 18 billion gross client commitments received; new firmwide record for number of mandates raised
  • USD 13 billion invested and USD 12 billion realized across private markets asset classes despite challenging transaction environment; thematic pipeline remains strong
  • 2024 guidance on gross client demand of USD 20 to 25 billion with a tilt towards H2

Partners Group received USD 18 billion in new commitments from its global client base in 2023 (guidance USD 17-22 billion), bringing the firm’s total assets under management (AuM)[1] to USD 147 billion as of 31 December 2023 (31 December 2022: USD 135 billion), up 8% year-over-year. The firm committed USD 13 billion[2] (2022: USD 26 billion) globally to investments across private markets asset classes and generated USD 12 billion (2022: USD 14 billion) in realizations. Partners Group guides for USD 20 to 25 billion in expected client demand for the full-year 2024. The higher end of the range assumes a normalization of the market environment in H2 2024.

David Layton, Partner and Chief Executive Officer, comments: “The strength of our integrated platform was highlighted again in 2023 by robust client demand for our bespoke solutions. We set a new Partners Group record for the number of mandates raised during the year, which is testament to our ability to craft differentiated and long-term private markets solutions for individual clients. In a challenging year characterized by a decrease in transaction volumes, slower exits, and muted fundraising activity overall, we were pleased to be able to deliver robust AuM growth. While transaction activity was slower to recover than anticipated in the second half, we do see signs of improvement in the market as we enter 2024. In this new private markets paradigm, our transformational investing approach and ability to tailor bespoke solutions for our clients will remain our key growth drivers.”

USD 18 billion in new client demand, led by bespoke client solutions

 

Managing over 300 diverse private markets portfolios in different stages of their lifecycle across all private markets asset classes is Partners Group’s key strength and differentiator. Overall, client demand resulted in total new commitments of USD 18 billion (2022: USD 22 billion). In H2 2023, Partners Group’s clients committed 27% more versus H1 as the pace of client conversion rates improved but remained slower than usual. For the full-year 2023, the firm generated solid demand across its three principal offering types:

  • Mandates (USD 8.3 billion raised): Partners Group’s differentiated portfolio management capabilities enable the firm to tailor investment content to each individual client’s desired risk/return profile and investment level, in order to deliver specific objectives and sustained results throughout market cycles. Mandates raised in 2023 will contribute to the base for future AuM growth. As of 31 December 2023, Partners Group manages 38% of its AuM in mandates (USD 56.5 billion).
  • Evergreens (USD 4.8 billion raised): these programs allow for a certain amount of liquidity and enable individual investors to access private markets more conveniently. Partners Group has been a leading global provider of evergreen programs for more than 20 years, offering private wealth clients access to private markets. As of 31 December 2023, Partners Group manages 30% of its AuM in evergreen programs (USD 44.1 billion).
  • Traditional closed-ended private market programs (USD 5.1 billion raised): beside the more bespoke solutions mentioned above, Partners Group continues to offer traditional commingled funds with multiple investors. These are typically limited partnerships with a pre-defined contractual life. In 2023, several new flagship programs were launched towards the end of the year. As of 31 December 2023, Partners Group manages 32% of its AuM in traditional private markets programs (USD 46.3 billion).

During the twelve-month period to 31 December 2023, AuM grew by USD 11.5 billion. Gross client demand stood at USD 18.2 billion before tail-down effects from mature private markets investment programs amounting to USD -8.2 billion, as well as redemptions from evergreen programs amounting to USD -4.5 billion. Foreign exchange effects further affected AuM growth by USD +2.9 billion during the period. A final USD +3.1 billion came from a select number of investment programs that link AuM to NAV development[3].

Breakdown of total AuM as of 31 December 2023 (in USD billion):

2023 2022 Last 5 years CAGR[4] Gross client demand
Private equity 75.5 71.2 + 13 % 7.7
Private debt 29.3 26.8 + 11 % 4.4
Private infrastructure 25.2 20.8 + 19 % 3.7
Private real estate 17.0 16.5 + 4 % 2.4
Total 146.9 135.4 + 12 % 18.2

 

 

USD 13 billion invested

 

Partners Group’s transformational investing approach led to USD 13 billion[5] (2022: USD 26 billion) invested on behalf of the firm’s clients into companies and assets that are well positioned in structurally growing areas of the economy. The transaction environment in the second half of the year improved only moderately despite the increased availability of financing. Partners Group placed emphasis on the conversion of its thematic investment pipeline to identify attractive businesses that operate within specific pockets of transformative growth. For example:

  • In private equity, Partners Group agreed to acquire ROSEN Group, a global provider of mission-critical inspection services for energy infrastructure assets, in November. ROSEN’s core service prevents avoidable incidents, which can have meaningful environmental and financial impacts, and endanger lives, helping customers to optimize throughput and extend the useful life of essential infrastructure assets. Value creation initiatives include expansion into new future energy sources such as hydrogen transportation pipes, adoption of artificial intelligence, and a further build-out of R&D.
  • In private infrastructure, Partners Group agreed to invest in Exus, an international renewables asset management and development firm. Exus is set to benefit from thematic trends including rising demand for decarbonization from corporates and strong regulatory support for renewables. Value creation initiatives will include transforming Exus into a builder, owner, and operator of assets, thereby owning the full value creation process. In addition, Partners Group will focus on scaling the origination capacity to over 1 GW per annum.

Partners Group invested 60% of its total global volume into direct assets on behalf of its clients. The remaining 40% of the total investment volume was invested into portfolio assets. These included secondary investments into globally diversified private markets portfolios, select primary commitments to other complementary private markets strategies, and investments into the broadly syndicated loan market.

USD 12 billion realized

Portfolio realizations amounted to USD 12 billion (2022: USD 14 billion). The transaction environment remained challenging throughout the majority of the year, and therefore several exits originally planned for H2 were postponed. A small number of businesses including Civica, a global provider of cloud software solutions, were successfully divested in 2023. Over the six-year holding period, Partners Group transformed Civica into a pure software business, doubling its EBITDA. Another example was the full exit of Borssele, an offshore windfarm in the Netherlands, which the firm sold to several infrastructure asset managers. Partners Group built this asset into a 731.5 MW windfarm from construction through to operation.

Outlook 2024

Partners Group continues to see strong structural tailwinds for the private markets industry and its outlook for long-term, sustainable growth remains in place. In particular, the firm sees two major areas of growth for private markets client demand: tailored mandates and investment solutions for private wealth investors. In both of these categories, Partners Group has an established leadership position with over 20 years of experience building bespoke solutions.

For the full-year 2024, Partners Group expects to raise between USD 20 to 25 billion in total client demand. The firm bases its guidance on an expected normalization of the investment environment and continued strong interest in its bespoke solutions and flagship offerings. Partners Group’s full-year estimates for tail-down effects from more mature closed-ended investment programs and redemptions from evergreen programs remain largely unchanged at USD -11.0 to -13.0 billion.

Sarah Brewer, Partner and Global Co-Head Client Solutions, adds: “Looking ahead to 2024, we anticipate that bespoke solutions will continue to be the key driver of fundraising as clients are increasingly looking to expand their exposure to private markets via differentiated solutions that meet their specific portfolio needs. Additionally, the mandates raised in and before 2023 are expected to contribute to future AuM growth because mandate clients are typically long-term, strategic relationships that increase their target allocations over time and in line with the rising set of investment opportunities. At the same time, we envisage solid demand for our traditional programs and expect that our evergreen solutions will remain an important contributor of client demand in 2024.”

Conference call today

Partners Group’s senior management will hold a conference call today at 6:15pm CET. To register for the call, please click here or use the contact details at the end of this press release.

Key dates/publications 2024

19 March 2024 Financial Results as of 31 December 2023
22 May 2024 Partners Group Holding AG shareholder AGM 2024
11 July 2024

03 September 2024

 Announcement of AuM as of 30 June 2024

Interim Financial Results as of 30 June 2024

[1] AuM is an Alternative Performance Metric (APM). A description of the APMs can be found in Partners Group’s 2022 Annual Report on pages 32-33, available for download at http://www.partnersgroup.com/en/shareholders/reports-presentations/. AUM figures are for Partners Group Holding AG, inclusive of all Partners Group affiliates.

[2] Respective year includes syndications.

[3] Partners Group reports fee-paying AuM. Most of the firm’s evergreen programs base fees on NAV. The portfolio performance during the period impacts the NAV of these products and this translates to a corresponding change in firm-level AuM. As always, calculations for semi-annual AuM numbers for evergreen programs are based on 31 May NAV valuations. Full-year AuM numbers are based on 30 November NAV valuations.

[4] CAGR: compound annual growth rate for net assets for the period 31 December 2018 – 31 December 2023.

[5] Respective year includes syndications.

Categories: News

Tags:

Bloomerang Acquires Qgiv to Deliver the Sector’s First Giving Platform

JMI Equity

Company expands its ability to deliver best-in-class fundraising solutions to help nonprofits attract more donors, deepen relationships, and improve fundraising outcomes

INDIANAPOLIS, Jan. 10, 2024 /PRNewswire/ — Bloomerang, the complete donor and volunteer relationship management platform for thousands of small and medium-sized nonprofits, today announced that they acquired Qgiv, a leading provider of fundraising technology solutions. This strategic acquisition accelerates Bloomerang’s vision to build the giving platform of the future.

Nonprofits currently face a shifting donor landscape, dwindling donations, disconnected technologies, and increasingly limited resources–making it difficult to engage supporters and deliver better outcomes. The addition of Qgiv’s best-in-class fundraising solution to Bloomerang’s leading donor and volunteer relationship management platform will accelerate nonprofits’ ability to raise more money and improve fundraising outcomes through stronger relationships with supporters.

“Both Qgiv and Bloomerang are top-rated solutions that lead the market in addressing some of the common challenges that nonprofits face today–raising funds, finding new donors, and cultivating existing donors,” says Dennis Fois, Chief Executive Officer (CEO) at Bloomerang. “Together we can deliver an expanded solution that exceeds the needs of the nonprofit sector–intuitive, easy-to-use donor management, volunteer management, and deep fundraising capabilities–in a single place. By bringing together the best of fundraising and donor relationship management, we can help nonprofits maximize the full potential of their donor communities and ultimately raise more donations, time, and support.”

“The integration between Qgiv and Bloomerang is wonderful,” said Maggie Mestrich, Director of Business Development at Carmel Swim Club. “It eliminates duplicate tasks, makes our stewardship more seamless, and helps our organization work more efficiently.”

Since 2020, fundraising software has seen a big shift in importance for nonprofits. Together, Bloomerang and Qgiv fill a need in the market to accelerate innovations in donor engagement and help nonprofits realize their full potential. The combined solution will provide numerous benefits for nonprofit organizations:

  • Increase fundraising revenue: Uncover high-performing campaigns and strategies to maximize giving potential and improve fundraising outcomes through the unification of data, people, and tools in one place.
  • Enable deeper relationships: Automated constituent insights allow for personalized engagement and deeper relationship-building with supporters.
  • Employ dynamic fundraising: Automatically tap into supporters’ strengths and passions in order to maximize their gifts–whether it’s time, dollars, or talent.
  • Save administrative time: Automate repetitive tasks, spend less time on data entry, and access a wider range of solutions, more support, and additional educational resources.
  • Achieve better outcomes: Deepen supporter engagement to generate long-term giving relationships and more funds raised.

“For 15 years our focus at Qgiv has been providing best-in-class fundraising technology to help nonprofit teams raise more in support of their missions,” says Todd Baylis, Qgiv CEO. “By adding Qgiv’s end-to-end fundraising solution to Bloomerang’s leading donor relationship management platform, we can help nonprofits raise more by supporting the entire donor journey. We recognize that our technologies, people, and skills complement each other, and we have a tremendous opportunity to build the sector’s first and most efficient giving platform.”

Bloomerang’s long-standing integration with Qgiv is available today with plans for more enhancements in 2024 and builds on a continued phase of exciting growth for the company. In 2023, the company launched Bloomerang Volunteer following the acquisition of volunteer management software. The company also released several product updates and enhancements including a refreshed self-serve Donor Portal, dynamic segmentation with its Groups functionality, contactless payment options with Tap to Pay, and a variety of new reports and dashboard updates to support more than 16,000 nonprofit organizations.

Learn more about Bloomerang’s integration with Qgiv.

About Bloomerang

Indianapolis-based Bloomerang is the complete donor and volunteer relationship management solution that helps thousands of small and medium-sized nonprofits deliver a better giving experience and create stable, thriving organizations. Combining robust, simple-to-use technology with people-powered support and training, Bloomerang empowers nonprofits to work efficiently, improve their supporter relationships, and grow their donor and volunteer bases. With Bloomerang, nonprofit professionals love their work and have another teammate in the cause.

Bloomerang is a trusted and acclaimed partner for growing nonprofits. For more information about Bloomerang and to see why real fundraisers recommend the solution to their peers, visit: https://bloomerang.com.

About Qgiv

Qgiv, Inc. is a leading digital fundraising platform empowering 20,000+ nonprofit fundraisers to raise money for their causes while keeping costs low. Through online giving and event registration forms, text fundraising, peer-to-peer fundraisers, and auction events, Qgiv provides a full suite of fundraising solutions that integrate with other nonprofit tools to provide a personalized giving experience for donors.

SOURCE Bloomerang

Categories: News

CapMan Residential Fund acquires two newly built residential assets in Helsinki Metropolitan Area, Finland

Capman

CapMan Residential Fund acquires two newly built residential assets in Helsinki Metropolitan Area, Finland

CapMan Residential Fund (CMRF) acquired two high-quality residential assets at the end of 2023. The transaction is the seventh investment for CapMan’s pan-Nordic core residential fund.

The two buildings with 82 apartments in total were completed in 2023 and are located in the districts of Olari and Soukka, in Espoo. The assets are well-connected to public transport and about 20 minutes from Helsinki city centre. The Olari property is also just a short walk from one of the dominant shopping and service centres in the Helsinki region, Iso Omena.

“We are delighted to add these exceptionally well located newly built assets to our fund, which focuses on investing in high-quality and middle-income residential properties in established and well-connected locations in the Nordic metropolitan areas. While the asset in Olari is already EU taxonomy aligned, also the property in Soukka is targeted to be EU taxonomy aligned once its energy performance certificate rating (EPC) is improved from B to A. The fund’s portfolio in Finland has expanded to 31 assets with this acquisition”, comments Juhani Erke, Partner at CapMan Real Estate.

“These assets complement our existing portfolio very well, and the transaction demonstrates that despite subdued market activity, there are attractive opportunities for well capitalised investors”, shares Mikael Hjorth, Partner at CapMan Real Estate and Fund Director of CMRF.

CapMan Real Estate has approximately €4.2 billion of real assets under management, and the team comprises over 70 professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Juhani Erke, Partner, CapMan Real Estate, +358 505 495 104

Mikael Hjorth, Partner, CapMan Real Estate, +44 7741 873 663

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics, it has built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. EUR 5 billion in assets under its management, its objective is to provide attractive returns and innovative solutions to investors. An example of this are the greenhouse gas reduction targets that it has set under the Science Based Targets initiative in line with the 1.5°C scenario. It has a broad presence in the unlisted market through its local and specialised teams. Its investment strategies cover minority and majority investments in portfolio companies and real estate, as well as infrastructure assets. It also provides wealth management solutions. Its service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. It has been listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

Categories: News

Tags:

BPEA fully transitions into EQT’s global name and brand identity

eqt

A year after the combination of EQT and BPEA, the private equity business line in Asia today rebrands as EQT and completes its transition into the firm’s global name and brand identity.

EQT Private Capital Asia

Going forward, BPEA EQT, will be known as “EQT Private Capital Asia” and operate side-by-side with the EQT Private Capital Europe & North America business segment, enabling the team to further leverage EQT’s global scale and brand recognition.

Jean Eric Salata, Chairman of EQT Asia and Founder of BPEA, continues to lead EQT Private Capital Asia alongside its partner group and investment committee team who have been with the firm for 16 and 22 years on average, respectively. Apart from aligning the name and brand with EQT, the organizational structure, governance and operational autonomy remain unchanged. Moreover, EQT Private Capital Asia’s existing investment committee and decision-making processes will continue as is, and the legacy BPEA name will be kept for the flagship fund series going forward.

2023 was a strong year for EQT Private Capital Asia with several landmark transactions across its core sectors, including the acquisitions of IMG Academy, Indira IVF, HDFC Credila, VetPartners, and Benesse, the merger of Tricor-Vistra, and exits of TRYT and Coforge, among others. Coming together as one has created one of the largest private markets platforms in Asia and provided additional scale and deeper sector expertise, enabling new types of investment opportunities and enhanced capabilities of attracting capital.

Guided by a thematic investment strategy and distinct sector focus, EQT Private Capital Asia seeks control and co-control equity investments across a spectrum from small to large-cap buyouts with equity checks ranging between USD 50m – 1bn. EQT Private Capital Asia operates side-by-side with EQT’s infrastructure and real estate business lines in Asia-Pacific, with a team consisting of more than 110 investment professionals based locally in Hong Kong, Singapore, Mumbai, Tokyo, Seoul, Beijing, Shanghai and Sydney.

Today, EQT is the third largest private markets firm globally, including top three within private equity, top five within infrastructure, and top ten within real estate*. EQT Private Capital Asia is supported by the firm’s global platform, extensive network of Industrial Advisors, and in-house expert capabilities within sustainability and digitalization, including Motherbrain, EQT’s proprietary AI investment platform.

(*Based on raised capital in the last five years. Source: 2023 rankings by Private Equity International, Infrastructure Investor, Private Equity Real Estate).

Contact
EQT Press Office, press@eqtpartners.com

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

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

Categories: News

LeaseCrunch Announces Significant Investment by Aquiline Capital Partners

Aquiline
NEW YORK, Jan. 10, 2024 – LeaseCrunch LLC (“LeaseCrunch” or “the company”), a leading lease accounting and lease management software provider, today announces a major growth investment from Aquiline Capital Partners LP, a private investment specialist with $10 billion in assets under management that invests across financial services and related technologies.

LeaseCrunch optimizes lease accounting processes for Certified Public Accountant (“CPA”) firms by automating calculations and the required deliverables. The solution allows firms to streamline operations, save time, reduce errors, lower costs and simplify compliance with the new lease accounting standards. Through its distinctive dual access capabilities, LeaseCrunch enables CPA firms to work independently or collaboratively with their clients.

Founded by a team of former CPAs and accounting auditors in 2016, LeaseCrunch has grown to support over 600 CPA firms, including many of the largest in the US. Following the investment from Aquiline, LeaseCrunch will continue to scale the business through organic growth by expanding its product offering and capabilities to better serve its existing customer base and will pursue M&A opportunities to add further capabilities in line with customer demand.

Ane Ohm, CEO and Co-Founder of LeaseCrunch said: “We are excited about the investment from Aquiline Capital Partners, which reaffirms our commitment to transforming lease accounting for CPA firms. This partnership will propel us to innovate further and provide enhanced solutions to our clients, empowering them to navigate the evolving landscape of accounting standards with confidence and ease.”

Bruce Crabtree, Principal at Aquiline, commented: “The LeaseCrunch team has built an impressive platform that effectively streamlines lease accounting, enabling CPA firms and corporate leaders to optimise their operations. As CPA firms face material talent shortages and growing demand for their services, it is imperative that firms adopt leading software solutions to automate workflows and increase efficiencies. We are thrilled to join forces with LeaseCrunch, leveraging our deep expertise in investing in mission critical software businesses to further accelerate the company’s growth.”

Marks Baughan served as the exclusive sell-side advisor to LeaseCrunch in the transaction. The transaction closed in the fourth quarter of 2023. Additional financial details of the transaction were not disclosed.

About LeaseCrunch LeaseCrunch is a leading provider of lease accounting and lease management software solutions in North America. The company delivers an easy-to-use software solution that addresses the biggest challenges of new lease standards ASC 842, IFRS 16, GASB 87, GASB 94 and GASB 96, particularly for CPA firms. LeaseCrunch is committed to creating value for CPA firms and companies by providing efficiencies in lease accounting and management processes. For more information, please visit www.leasecrunch.com.

About Aquiline Capital Partners Aquiline Capital Partners LP is a private investment specialist based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services and related technologies. The firm has $10.1 billion in assets under management as of September 30, 2023. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

Categories: News

Tags:

Vantage Data Centers Announces $6.4 Billion Equity Investment Led by DigitalBridge and Silver Lake

Silverlake

Aggregate new equity investment in recent months reaches $8 billion, accelerating and extending Vantage’s leadership as strategic partner to global hyperscalers to meet unprecedented cloud and AI demand

Supports development investment of over $30 billion to deliver more than three gigawatts of additional data center capacity

 

DENVER, BOCA RATON, Fla., and MENLO PARK, Calif. (Jan. 9, 2024) – Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced a $6.4 billion equity investment led by investment vehicles managed by DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”), the leading global alternative asset manager dedicated to investing in digital infrastructure, and Silver Lake, the global leader in technology investing.

The investment, across North America and EMEA, is incremental to the recently announced €1.5 billion to be invested by AustralianSuper in Vantage EMEA and includes expected investment from DigitalBridge and Silver Lake co-investors. These investments accelerate and extend Vantage’s strategic capabilities across North America and EMEA to partner with global hyperscalers in meeting unprecedented cloud and AI demand.

The combined investments highlight the long-term commitment of two category-leading investors to the business. Silver Lake launched Vantage in 2010 as a single data center campus in Santa Clara, California, recruited the management team that continues to lead Vantage today, and grew the company to have the then-largest wholesale data center footprint in Silicon Valley focused on serving sophisticated technology companies. A DigitalBridge-managed vehicle acquired Vantage in 2017 and has been the key strategic partner for nearly seven years, further emphasizing the company’s strategy to support cloud and now AI adoption and scaling Vantage into a global market leader with 32 operational or developing hyperscale data center campuses across five continents.

The new investment from DigitalBridge and Silver Lake, which follows several years of record growth at Vantage, is a key enabler of the business’ strategic growth and investment plan to meet customer demand. Vantage owns or controls 25 sites in North America and EMEA totaling more than three gigawatts of expected capacity. As part of the company’s investment plan, Vantage’s strategic land bank is expected to drive an estimated $30 billion of additional development, extending Vantage’s track record of bringing market leading capacity and innovative solutions to customers around the world. In connection with the investment, Vantage will continue its development of next-generation data centers, including energy-efficient and sustainable designs purpose-built for AI and large-scale cloud deployments.

“We are delighted that Silver Lake is joining DigitalBridge to support Vantage’s continued expansion across North America and EMEA,” said Sureel Choksi, president and CEO of Vantage. “Cloud computing, AI and related technologies are driving unprecedented demand for digital infrastructure. The market opportunity in front of us is extraordinary, and we are excited to chart our next phase of growth with two premier investors who have been great partners to us and have an unmatched understanding of our global technology customers and their infrastructure needs.”

“We are excited about supporting the next chapter of Vantage’s growth in partnership with Silver Lake,” said Jon Mauck, senior managing director at DigitalBridge, who leads the company’s data center investment strategy. “We believe the combination of DigitalBridge’s unparalleled insight into the digital infrastructure landscape and Silver Lake’s technology focus creates a unique partnership to further enable Vantage’s strategic expansion and long-term growth plan. Vantage is a critical partner to the leading cloud and technology platforms globally and is well positioned to continue to support accelerating adoption of cloud- and AI-based technologies.”

“We are proud of what we pioneered when we launched Vantage, and we are thrilled to invest and partner again with this exceptional management team alongside DigitalBridge to drive the next generation of energy-efficient, hyperscale data center leadership,” said Greg Mondre, co-CEO and managing partner, and Lee Wittlinger, managing director, of Silver Lake. “Silver Lake is committed to bringing to bear the depth and breadth of our specialized expertise across the technology landscape to strengthen Vantage’s partnerships with the world’s biggest and most sophisticated technology companies and continue to meet their most challenging data center needs.”

The transactions are expected to close in the first quarter of 2024, subject to customary closing conditions.

 

About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.

For more information, visit https://www.vantage-dc.com.

About DigitalBridge Group, Inc.
DigitalBridge Group, Inc. (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells and edge infrastructure, the DigitalBridge team manages $75 billion of infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, Luxembourg and Singapore.

For more information, visit https://www.digitalbridge.com.

About Silver Lake
Silver Lake is a global technology investment firm with approximately $101 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $266 billion of revenue annually and employ approximately 540,000 people globally.

For more information, visit https://www.silverlake.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include changes to the level of demand for hyperscale data center campuses, the impact of AI and related technologies on the demand for digital infrastructure, plans for capital deployment by Vantage, whether the equity recapitalization transactions described in this release will be completed in the timeframe anticipated or at all, and other risks and uncertainties, including those detailed in DigitalBridge’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023, and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect DigitalBridge’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. DigitalBridge cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. DigitalBridge is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and DigitalBridge does not intend to do so.

Categories: News

Tags:

AME and Variass join forces by establishing Metis Group

GIMV

Establishing Metis Group marks a new step in the international buy-and-build strategy.

Eindhoven, 9 January 2024 – Variass, AME, and Gimv are delighted to announce the establishment of Metis Group, effective as of today, January 9, 2024. Metis Group is a group of electronics companies that provide Development, Manufacturing and Product Life Cycle Management services to customers. Metis Group aims to facilitate collaboration among its subsidiary companies by sharing best practices and optimizing production and development capabilities, thereby maximizing value for its customer base.

The step to establish the Metis Group is a logical one after the acquisition of a majority stake in AME in 2020 and Variass in 2022 by Gimv, a leading European investment company.

Metis Group: Together towards tomorrow
Metis Group’s companies are partnering with customers to develop and manufacture the innovations of tomorrow. With a combined revenue of well over EUR 100M+ and a strong and committed workforce of 450+ employees across multiple locations including Eindhoven, Veendam and Drachten in the Netherlands, Metis Group is ready to accelerate high-tech solutions together with its partners.

Metis Group is committed to positioning itself as a premier technology manufacturer in various segments of the industry, health, safety, energy, and climate markets. The goal is to significantly expand in the next years through both organic growth as well as strategic acquisitions. The subsidiaries under Metis Group will maintain their unique business operations while collaborating to launch new services, exchange best practices, and drive forward their collective ambition: Together towards tomorrow.

Leadership and Governance
Reinier Beltman will lead the Metis Group and will also continue his current CEO-role at AME. As a former CEO of Ampleon, Reinier has ample experience in realizing growth in a high-tech environment by continuously striving to maximize customer value. He will be complemented by Ronald Diederiks as CFO. They will be working closely together with the management teams of Variass and AME. The supervisory board is comprised of Henk Smid (founder and former CEO of Variass), Boris Wirtz and Tom Van de Voorde (both from Gimv). This seasoned leadership team is committed to steering Metis Group towards a future marked by innovation, market leadership, and to being an attractive employer with a high level of employee engagement.

Reinier Beltman, CEO of Metis Group, remarks “joining forces will accelerate our growth path and strengthen the partnerships with customers of each Metis Group company”.

Boris Wirtz, chairman of the supervisory board, added “the establishment of Metis Group as a platform for further buy-and-build marks a significant milestone in our journey. It reflects our shared commitment to excellence, innovation, and growth. As a Supervisory Board, we are excited to support a vision that not only propels our companies forward but also contributes significantly to the ‘smart industries sector’ we operate in”.

Categories: News

Tags:

Latour acquires BS Tableau GmbH

Latour logo

Investment AB Latour (publ) has, through its wholly-owned subsidiary Latour Industries AB, acquired 100 per cent of the shares in BS Tableau GmbH, based in Zülpich, Germany.

BS Tableau is a German leading manufacturer of components for elevators. The company, founded in 1995, manufactures and sells bespoke fixtures for elevator cabins and a broad range of electronic components to lift operators and OEMs, mostly targeting modernization projects. Net sales amounts to approximately EUR 6 m, of which the majority is sold in the German market. The company has 40 employees.

“We are very happy to welcome BS Tableau to Latour Industries. The company offers high-quality products, has long-standing customer relationships, and is a strong addition to our portfolio of companies in the same sector. We look forward to collaborating with all employees and to growing and developing the company further”, says Björn Lenander, CEO Latour Industries.

“I am confident that the company will benefit from Latour’s industrial experience, long-term orientation, and responsible ownership model. I am certain that this will benefit our customers and employees”, says Rainer Bunk, CEO and co-founder of BS Tableau.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group increases to almost SEK 11.8 billion compared to the net debt level at the end of September 2023, all else equal.

Göteborg, 9 January, 2024

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Niclas Nylund, Investment Director Latour, +46 708 17 35 85

Latour Industries consists of a number of holdings, each with its own business concept and business model. The ambition is to develop the holdings within the business area to eventually become new independent business areas within the Latour Group. Latour Industries has an aggregated annual turnover of SEK 4 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 76 billion. The wholly-owned industrial operations has an annual turnover of SEK 26 billion.

Downloads

Categories: News

Tags:

Cinven raises $14.5 billion for the Eighth Cinven Fund

Cinven
  • Cinven has achieved the hard cap for the Eighth Cinven Fund, raising $14.5 billion (€13.2 billion)
  • Fund 8 is nearly 30% larger than its 2019 vintage predecessor fund, Fund 7
  • Cinven benefitted from a strong re-up rate from its longstanding Limited Partners, and welcomed a number of new investors to its global Limited Partner base
  • The success of Cinven’s fundraise was underscored by the strength of its long-term track record that has returned proceeds of c. €47 billion to the Cinven Funds; the depth and experience of its team; and the consistency of its strategy of building long-term, sustainable businesses with global growth opportunities

International private equity firm Cinven announces the final close of its latest flagship fund, the Eighth Cinven Fund (‘Fund 8’), having raised $14.5 billion (€13.2 billion) and reached the hard cap. Fund 8 is nearly 30% larger than its 2019 vintage predecessor fund, Fund 7, for which Cinven also reached the hard cap.

 

Over the course of its almost 50-year history, Cinven has focused on building world class companies using its sector expertise. Cinven has built deep, embedded local networks across Europe and has a growing presence in North America. Cinven’s international team works closely together in a Sector-Regional approach to execute its proven investment strategy to create strong and stable returns for its investors. Cinven’s ‘one team’ culture is fundamental to the firm’s values, philosophy and ethos, and the success of the Fund 8 raise demonstrates the continued strong support by Cinven’s Limited Partners for its team and investment approach.

 

Stuart McAlpine, Managing Partner of Cinven, said:

 

“Cinven has a long and proven track record of delivering strong and consistent performance to our investors. Our strategy for Fund 8 builds on the approach we have successfully deployed for previous Cinven Funds, investing in control positions in growth-oriented, market leading, cash generative companies with resilient characteristics where we can accelerate growth through our active management, and deliver break-out returns. We are very grateful to our Limited Partners for their continued support, and believe the investment opportunity for Fund 8 is very compelling.”

 

Alexandra Hess, Partner of Cinven and Head of Investor Relations, added:

 

“We greatly appreciate the support for Fund 8 that we have received from both longstanding and new investors. With their support, we have been able to complete another successful fundraise despite the difficult market backdrop. We believe market environments such as these support successful fund vintages for investors; particularly given Cinven’s experience identifying attractive opportunities across sectors and geographies in periods of volatility.”

 

Cinven seeks to build long-term, sustainable businesses which will grow, provide employment and generate economic benefit in an environmentally and socially responsible manner. At its core is a long and proven track record of investing successfully through economic cycles.

 

The Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America, realised or listed more than 115 investments and returned proceeds of c. €47 billion to the Cinven Funds.

 

Originally founded as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995; raised its first Fund in 1996; and has raised Funds of more than €50 billion in aggregate to date.

Categories: News

Tags:

EQT introduces the EQT Healthcare Growth Strategy, a dedicated healthcare buyout strategy, with the acquisition of life sciences tools company Mabtech

eqt
  • The new EQT Healthcare Growth Strategy builds on EQT’s 30-year healthcare track record and will focus on scaling innovative, fast-growing healthcare companies to help deliver positive outcomes across the value chain
  • By helping companies build commercial muscle and expand their global reach, the Strategy aims to enable the development of medical research, diagnostics, tools and treatments to deliver more effective, efficient and accessible healthcare
  • Mabtech is a leading provider of high-quality antibody tools and kits, used predominantly for vaccine, infectious diseases, and oncology research, based in Sweden. EQT Healthcare Growth will support Mabtech as it expands its product portfolio and reach, especially in the US

EQT is excited to introduce the EQT Healthcare Growth Strategy(or the “strategy”) and announce its first investment, Mabtech, which is being acquired from the IK Small Cap II Fund.

Introducing the EQT Healthcare Growth Strategy
Long-term trends – such as growing, aging, and less healthy populations, significant unmet medical needs, and rising healthcare costs – are leading to a greater need for better, more efficient, and accessible healthcare. At the same time, scientific breakthroughs and advancements in technology and data are accelerating healthcare innovation. This is increasing the opportunity to invest in innovative and differentiated products and services that seek to deliver positive outcomes across the value chain. The opportunity is particularly compelling in Europe, where there are a growing number of companies in need of capital, expertise, and global reach to help them scale and unlock their full growth potential.

Against this backdrop, EQT is introducing the EQT Healthcare Growth Strategy. The buyout strategy will apply EQT’s active ownership approach and invest in the same healthcare subsectors that the firm has invested in for 30 years. The dedicated Advisory Team is led by Maarten de Jong, who joined EQT earlier this year from Moelis & Company, where he led the expansion of its healthcare franchise. The EQT Healthcare Growth Advisory Team includes three further partners: Geraldine O’Keeffe, joining from EQT Life Sciences, Isabel de Paoli, joining from EQT Private Equity and previously Chief Strategy Officer at Merck KG, and Mark Braganza, who recently joined from Sun European Partners and was previously at GHO and TPG, where he focused on healthcare investing.

Maarten de Jong said: “I’m delighted to have joined EQT to establish and lead the EQT Healthcare Growth Strategy, alongside a fantastic team. The new strategy will invest in innovative, fast-growing, proven healthcare companies, predominantly based in Europe. Applying EQT’s proven approach and leveraging its global network, we will help these companies build their commercial muscle and expand their global reach. In doing so, we seek to generate attractive risk-adjusted returns for clients while scaling positive outcomes across the healthcare value chain.”

Mabtech becomes the EQT Healthcare Growth Strategy’s first investment
Mabtech is a category leading provider of tests and kits for studying immune responses predominantly in vaccine, infectious diseases, and oncology research. Based in Sweden, it has over 900 customers in more than 60 countries. Its products and services are focused on critical and often irreplaceable techniques used in antibody-based immunology research processes, particularly ELISpot and FluoroSpot kits. The market for these kits is accelerating, on top of the broader oncology, immunology and vaccines-related research market that is also growing.

Commenting on the acquisition of Mabtech, responsible Partner Isabel de Paoli said: “This is a high-quality player with deep technical and scientific expertise in a growing niche market, that we have been following for many years. By offering ‘must-haves’ along the drug development value chain and building on its leading position in Europe, Mabtech is well-placed to expand its scale and reach, especially in the US. This is an ideal example of the kind of company that the EQT Healthcare Growth Strategy seeks to continue investing in: it’s a fast-growing European champion with innovative, proven solutions that drive positive healthcare outcomes. We look forward to working with Jan Wahlström and team to help Mabtech reach its full growth potential.”

The EQT Healthcare Growth Strategy builds on EQT’s 30-year track record
The strategy is fully integrated into and benefits from the broader EQT Private Capital platform and global healthcare sector vertical. Combining the deep scientific expertise and ability to identify emerging trends of EQT Life Sciences with EQT Private Equity’s value creation playbook and prior experience in high-growth, mid-market buyouts, the strategy is well placed to identify and support healthcare companies on their mission to scale rapidly and deliver positive healthcare outcomes.

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare Sector Team, added: “The introduction of the EQT Healthcare Growth Strategy builds on EQT’s three decades of healthcare experience. To date, we have invested over EUR 23 billion in more than 200 companies, from early-stage to buyout. Today, we have a healthcare team of more than 120 dedicated investment professionals across 20 countries supported by a network of approximately 150 advisors. With EQT Healthcare Growth, we’re adding the final piece to the puzzle so that we can support healthcare companies in every stage of their development. This market segment requires a unique combination of skills, and we are very proud of the caliber of team we have assembled to meet this opportunity.”

The acquisition of Mabtech is subject to customary conditions and approvals. It is expected to close in Q1 2024.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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

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

About Mabtech
Mabtech is a Swedish biotech company developing immunoassays for life science research. Since 1986, Mabtech’s mission has been to aid research by providing the global scientific community with innovative tools. To that end, the company generates and produces a wide range of monoclonal antibodies, kits, peptide pools, and instruments for in vitro applications.

For more information, visit https://www.mabtech.com/    

Categories: News

Tags: