Tag Archives: Financial services

Analysys Mason to acquire Germany-based PE consulting firm Telescope Advisory Partners

Bridgepoint

The transaction enhances Analysys Mason’s global market reach, commercial due diligence competencies and AI capabilities

Telescope Advisory Partners, a Munich and Frankfurt-based transaction support, value creation and innovation strategy consulting boutique specialising in commercial due diligence and strategy support, will join forces with Analysys Mason, the global technology, media and telecoms consultancy.

The transaction is supported by Analysys Mason’s existing investment partner Bridgepoint, which partnered with the company in 2022 via Bridgepoint Development Capital, a lower middle-market fund focused on supporting fast-growing businesses across Europe.

Telescope and Analysys Mason are recognised leaders in the transaction support sector, helping clients to make the best investment decisions at every stage of the deal lifecycle and accelerating value creation across the investment journey. Telescope’s sector experience and focus is on software, IT services and sustainable cities, while Analysys Mason has unparalleled expertise in digital infrastructure such as communication towers and data centres, ICT (information and communication technology) and IoT (Internet of Things).

This combination leverages the strengths of both companies, creating a comprehensive service offering for small, medium and large-cap private equity buy-out and infrastructure investors. The combined entity is set for growth and innovation, particularly in the field of artificial intelligence (AI), where both firms already support clients in navigating AI opportunities, enhancing business valuation and margins, and integrating AI into the investment cycle.

“We are thrilled to join forces with Telescope,” said Bram Moerman, CEO of Analysys Mason. “This acquisition represents a significant step forward in our mission to deliver unparalleled value to our clients and enhances our transaction support delivery capabilities in the DACH region. Our combined expertise in AI and the private equity markets will enable us to offer even more innovative solutions.”

Simon Fischer, co-Managing Partner at Telescope added, “We are looking forward to forming a global transaction and value creation advisory team unique to the private equity and technology sector. The combined resources and skills as well as a common set of values and ways of working will enable us to continue a strong growth trajectory whilst keeping our entrepreneurial spirit.”

Ludwig Preller, co-Managing Partner at Telescope commented, “This deal positions us perfectly to seize new growth opportunities especially in the field of technology advisory. After a decade of successful expansion in Germany and Europe, we are excited to extend our expertise to new markets globally, providing a ‘global local’ precision service focused on global Tech- and IT-Services transactions and to approach new segments of clients together.”

Jeannele M’bembath, Director at Bridgepoint added, “We are very excited to support Analysys Mason’s continued growth as they welcome Telescope into the fold. This partnership represents a powerful blend of expertise – particularly with respect to AI, due diligence and value creation solutions – that will bring even greater value to current and future clients in Europe and beyond.”

The acquisition is expected to be completed by the end of November, subject to customary closing conditions.

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eRESI Secures Additional Investment from KKR

KKR

NEW YORK & CHARLOTTE, N.C.–(BUSINESS WIRE)–eRESI Capital, LLC (“eRESI” or the “Company”), an innovative mortgage funding platform that offers comprehensive private capital solutions to the residential mortgage market, today announced that it has secured a new investment from insurance accounts managed by KKR, a leading global investment firm. These insurance accounts initially invested in eRESI in 2021. The additional capital is expected to help the Company continue to reach new origination milestones and drive further innovation, excellence, and value for its customers.

Founded in 2019, eRESI offers customized products and liquidity solutions to hundreds of mortgage banking partners. With the support of KKR’s High-Grade Asset-Based Finance (ABF) strategy, eRESI has provided over $10 billion in residential whole loan funding. The new commitment is expected to help broaden eRESI’s funding capabilities and operational capacity to capture market share and further increase liquidity to its customers.

“With KKR’s support, we have achieved remarkable goals, and we look forward to accomplishing even more in the future,” said Gregory Tsang, Chief Executive Officer and Tim Wang, President of eRESI. “Our best-in-class platform empowers us to deliver exceptional products and services to our customers and partners and this commitment will continue to drive our growth and strengthen our market-leading position.”

“We are pleased to support eRESI’s growth through our High-Grade Asset-Based Finance strategy and look forward to deepening our commitment to the company, which plays a key role in expanding access to financing options in the mortgage market” said Avi Korn and Chris Mellia, global co-heads of Asset-Based Finance at KKR.

KKR’s high grade ABF strategy focuses on investment grade and investment grade-like financings and whole loan purchases. Through access to proprietary sourcing and privately negotiated structures, this strategy can provide attractive excess returns over corporate investment grade exposure with similar risk. KKR’s ABF platform began investing in 2016 and now has approximately $66 billion in ABF assets under management globally across its High-Grade ABF and Opportunistic ABF strategies.

About eRESI

eRESI’s comprehensive private capital access and technology platform is empowering mortgage companies with better liquidity and more efficiency. eRESI continues to expand its Non-Agency market share through enhanced transparency, innovative process, and best-in-class client service. The ability to provide a fully integrated suite of solutions and expansive executions to origination partners and capital markets helps support and benefit the U.S. housing market. Based in Charlotte, NC and Pasadena, CA, eRESI has completed billions in Non-Agency transactions serving a national network of clients.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Contacts

For eRESI:
Semone Aye
1-855-208-2546
semone.aye@eresimortgage.com

For KKR:
Julia Kosygina or Lauren McCranie
212-750-8300
media@kkr.com

 

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CVC Credit supports the de-listing of Alpha FMC from the London Stock Exchange

CVC Capital Partners

CVC Credit, the €43 billion global credit management business of CVC, is pleased to announce that it has provided debt facilities to support the de-listing of the financial services consultancy, Alpha Financial Markets Consulting plc (“Alpha FMC”), by Bridgepoint from the AIM market of the London Stock Exchange.

Headquartered in London, Alpha FMC is a consultancy focused on the asset, wealth management and insurance sectors, specialising in areas including business strategy, operations, distribution, digital transformation and regulatory compliance. Its large, 1,000 strong global client base includes 80% of the top 50 largest global asset managers. The company employs more than 900 consultants across 17 offices around the world.

Simone Zacchi, Partner at CVC Credit, commented: “Alpha FMC is a leading asset and wealth management consultancy in the UK, with a strong reputation and track record of outperformance to its peer group. We are pleased to be supporting the next phase of its growth strategy in its newly established private environment through the provision of both term loan and acquisition facilities.”

Quotes

CVC Credit has a track record of supporting strong and stable businesses who are backed by experienced financial sponsors and this is exactly the case with Alpha FMC.

John EmpsonManaging Partner and Co-Chair of CVC Credit

John Empson, Managing Partner and Co-Chair of CVC Credit, said: “We are pleased to be partnering with Bridgepoint once again, having supported several of their other recent acquisitions including Analysys Mason, PharmaZell and Vivacy. CVC Credit has a track record of supporting strong and stable businesses who are backed by experienced financial sponsors and this is exactly the case with Alpha FMC.”

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CVC and Waldakt, acting through Ronneby UK Limited, announce the final outcome for the recommended cash offer to the shareholders of Resurs Holding AB (publ)

CVC Capital Partners

On 17 June 2024, CVC1 and Waldakt2 (together the “Consortium“), acting through Ronneby UK Limited3 (the “Bidder“), announced a recommended public offer to the shareholders of Resurs Holding AB (publ) (“Resurs”) to tender all shares in Resurs to the Bidder at a price of SEK 23.50 in cash per share (the “Offer”). On 3 September 2024, the Bidder declared the Offer unconditional and announced that it would complete the Offer and acquire all shares in Resurs that have been tendered in the Offer. In addition, the Bidder extended the acceptance period for the Offer one last time until 4 October 2024.

The Offer is now closed. During this final extension of the acceptance period, the Offer was accepted by such extent that the Bidder will become the owner of more than 87 percent of the shares in Resurs.

Settlement for shares tendered in the Offer during the final extension of the acceptance period is expected to be initiated on or 15 October 2024.

Quotes

We are pleased to have received the support of the majority of shareholders in Resurs, including the additional shareholders who tendered their shares in the last few weeks. Now that the acceptance period is closed we are looking forward to joining the Board and beginning the Company’s transformation journey.

Gustaf Martin-Löf, Partner, and Martin Iacoponi, Managing Director, CVC

Gustaf Martin-Löf, Partner, and Martin Iacoponi, Managing Director, CVC, comment:

“We are pleased to have received the support of the majority of shareholders in Resurs, including the additional shareholders who tendered their shares in the last few weeks. Now that the acceptance period is closed we are looking forward to joining the Board and beginning the Company’s transformation journey. We recognise this will be a multi-year transformation with significant investments required and impacting the Company’s financial results and cash flows, and are prepared and focused on supporting the management team on this journey.”

Shares tendered in the Offer

The shares tendered in the Offer at the end of the initial acceptance period (which ended on 30 August 2024) amounted to in aggregate 101,361,152 shares in Resurs, corresponding to approximately 51 percent of the share capital and votes in Resurs. Together with the 57,885,556 shares in Resurs already held and controlled by Waldakt, corresponding to approximately 29 percent of the share capital and votes in Resurs, that has been contributed to the Bidder, the Bidder’s shareholding in Resurs amounted to in aggregate 159,246,708 shares in Resurs, corresponding to approximately 80 percent of the share capital and votes in Resurs.

The shares tendered in the Offer during the extended acceptance period (which ended on 13 September 2024) amounted to in aggregate 5,569,196 shares in Resurs, corresponding to approximately 3 percent of the share capital and votes in Resurs. On 16 September 2024, the Bidder announced that the Bidder had acquired 6,192,276 shares in Resurs outside the Offer, corresponding to approximately 3 percent of the share capital and votes in Resurs, since the announcement of the outcome of the Offer on 3 September 2024.

The shares tendered in the Offer during the final extension of the acceptance period amount to in aggregate 1,292,909 shares in Resurs, corresponding to approximately 1 percent of the share capital and votes in Resurs. In addition, the Bidder has acquired an additional 2,287,329 shares in Resurs outside the Offer, corresponding to approximately 1 percent of the share capital and votes in Resurs, since the announcement of the final extension press release on 16 September 2024. No acquisitions have been made at a price exceeding the price in the Offer.

Accordingly, upon settlement for the shares that were tendered in the Offer during the final extended acceptance period that ended on 4 October 2024, the total number of shares in Resurs held by the Bidder will amount to 174,588,553 shares, corresponding to approximately 87 percent of the share capital and votes in Resurs.

Compulsory redemption and delisting

If the Bidder acquires shares representing more than 90 percent of the total number of shares in Resurs, the Bidder intends to commence compulsory redemption proceedings under the Swedish Companies Act (2005:551) (Sw. aktiebolagslagen (2005:551)) to acquire all remaining shares in Resurs and promote a delisting of Resurs’ shares from Nasdaq Stockholm.

Information about the Offer

Information about the Offer is made available at www.leading-specialty-finance.com.

For additional information, please contact:

Adam Makkonen, Ronneby UK Limited
+46 (0)703 166 375
ronneby@fogelpartners.se

Carsten Huwendiek, Managing Director – Global Head, Marketing & Communications, CVC
chuwendiek@cvc.com

Nick Board, Director of Communications, CVC
+44(0) 7827 804061
nboard@cvc.com

For administrative questions regarding the Offer, please contact your bank or the nominee registered as holder of your shares.

The information in this press release was submitted for publication by the Bidder in accordance with the Takeover Rules for Nasdaq Stockholm on 7 October 2024 at 07.30 (CEST).

1 “CVC” refers to CVC Advisers International S.à r.l. (acting through CVC Advisers International Svenska filial) and its affiliates from time to time, together with Clear Vision Capital Fund SICAV FIS S.A. and each of its subsidiaries from time to time. “CVC Funds” refers to funds or vehicles advised and/or managed by CVC.

2 “Waldakt” refers to Waldakt Aktiebolag, a Swedish private limited liability company with corporate registration number 556315-7253, domiciled in Gothenburg, Sweden.

3 “Ronneby UK Limited” refers to a newly formed English private limited company with company number 15750820, domiciled in London, United Kingdom. As per the date of this announcement, the Bidder is indirectly co-owned by the members of the Consortium.

Important information

This press release has been published in Swedish and English. In the event of any discrepancy in content between the two language versions, the Swedish version shall prevail.

The Offer is not being made, directly or indirectly, in or into Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa or in any other jurisdiction where such offer would be prohibited by applicable law pursuant to legislation, restrictions and regulations in the relevant jurisdiction, by use of mail or any other communication means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the Internet) of interstate or foreign commerce, or of any facility of national securities exchange or other trading venue, of Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa or in any other jurisdiction where such offer would be prohibited by applicable law pursuant to legislation, restrictions and regulations in the relevant jurisdiction, and the Offer cannot be accepted by any such use or by such means, instrumentality or facility of, in or from, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa or in any other jurisdiction where such offer would be prohibited by applicable law pursuant to legislation, restrictions and regulations in the relevant jurisdiction. Accordingly, this press release or any documentation relating to the Offer are not being and should not be sent, mailed or otherwise distributed or forwarded in or into Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa or in any other jurisdiction where such offer would be prohibited by applicable law pursuant to legislation, restrictions and regulations in the relevant jurisdiction.

This press release is not being, and must not be, sent to shareholders with registered addresses in Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa. Banks, brokers, dealers and other nominees holding shares for persons in Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore or South Africa must not forward this press release or any other document received in connection with the Offer to such persons.

The Offer, the information and documents contained in this press release are not being made and have not been approved by an “authorised person” for the purposes of section 21 of the UK Financial Services and Markets Act 2000 (the “FSMA”). The communication of the information and documents contained in this press release is exempt from the restriction on financial promotions under section 21 of the FSMA under article 62 (sale of a body corporate) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, on the basis that it is a communication by or on behalf of a body corporate which relates to a transaction to acquire shares in a body corporate and the object of the transaction may reasonably be regarded as being the acquisition of day to day control of the affairs of that body corporate.

Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections and other benefits of the Offer, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipates”, “intends”, “expects”, “believes”, or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of the Bidder and Resurs. Any such forward-looking statements speak only as of the date on which they are made and the Bidder has no obligation (and undertakes no such obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except for in accordance with applicable laws and regulations.

Carnegie is acting for the Bidder and no one else in connection with the Offer and will not be responsible to anyone other than the Bidder for providing the protections afforded to clients of Carnegie, or for giving advice in connection with the Offer or any matter referred to herein.

Special notice to shareholders in the United States

The Offer described in this press release is made for the issued and outstanding shares of Resurs, a company incorporated under Swedish law, and is subject to Swedish disclosure and procedural requirements, which are different from those of the United States. The shares of Resurs are not listed on a U.S. securities exchange. Resurs is not subject to periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the “U.S. Exchange Act”) and is not required to file any reports with the U.S. Securities and Exchange Commission (the “SEC”). The Offer is made in the United States pursuant to Section 14(3) of the U.S. Exchange Act and Regulation 14E thereunder, subject to exemptions provided by Rule 14d-1(c) under the U.S. Exchange Act for a Tier 1 tender offer (“Tier I Exemption”), and otherwise in compliance with the disclosure and procedural requirements of Swedish law, including with respect to withdrawal rights, the Offer timetable, notices of extensions, announcements of results, settlement procedures (including as regards to the time when payment of the consideration is rendered) and waivers of conditions, which are different from legal requirements or customary practices in relation to U.S. domestic tender offers. The offeror’s ability to waive the conditions to the Offer (both during and after the end of the acceptance period) and the shareholders’ ability to withdraw their acceptances, are not the same under a tender offer governed by Swedish law as under a tender offer governed by U.S. law. Holders of the shares in Resurs domiciled in the United States (the “U.S. Holders”) are encouraged to consult with their own advisors regarding the Offer.

Resurs’ financial statements and all financial information included herein, or any other documents relating to the Offer, have been or will be prepared in accordance with IFRS and may not be comparable to the financial statements or financial information of companies in the United States or other companies whose financial statements are prepared in accordance with U.S. generally accepted accounting principles. The Offer is made to the U.S. Holders on the same terms and conditions as those made to all other shareholders of Resurs to whom an offer is made. Any information documents, including the offer document, are being disseminated to U.S. Holders on a basis comparable to the method pursuant to which such documents are provided to Resurs’ other shareholders.

The Offer, which is subject to Swedish law, is being made to the U.S. Holders in accordance with the applicable U.S. securities laws, and applicable exemptions thereunder, in particular the Tier I Exemption. To the extent the Offer is subject to U.S. securities laws, those laws only apply to U.S. Holders and thus will not give rise to claims on the part of any other person. The U.S. Holders should consider that the price for the Offer is being paid in SEK and that no adjustment will be made based on any changes in the exchange rate.

It may be difficult for Resurs’ shareholders to enforce their rights and any claims they may have arising under the U.S. federal or U.S state securities laws in connection with the Offer, since Resurs and the Bidder are located in countries other than the United States, and some or all of their officers and directors may be residents of countries other than the United States. Resurs’ shareholders may not be able to sue Resurs or the Bidder or their respective officers or directors in a non-U.S. court for violations of U.S. securities laws. Further, it may be difficult to compel Resurs or the Bidder and/or their respective affiliates to subject themselves to the jurisdiction or judgment of a U.S. court.

To the extent permissible under applicable law and regulations, the Bidder and its affiliates or its brokers and its brokers’ affiliates (acting as agents for the Bidder or its affiliates, as applicable) may from time to time and during the pendency of the Offer, and other than pursuant to the Offer, directly or indirectly purchase or arrange to purchase shares of Resurs outside the United States, or any securities that are convertible into, exchangeable for or exercisable for such shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices, and information about such purchases will be disclosed by means of a press release or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to the Bidder may also engage in ordinary course trading activities in securities of Resurs, which may include purchases or arrangements to purchase such securities as long as such purchases or arrangements are in compliance with the applicable law. Any information about such purchases will be announced in Swedish and in a non-binding English translation available to the U.S. Holders through relevant electronic media if, and to the extent, such announcement is required under applicable Swedish or U.S. law, rules or regulations.

The receipt of cash pursuant to the Offer by a U.S. Holder may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each shareholder is urged to consult an independent professional adviser regarding the tax consequences of accepting the Offer. Neither the Bidder nor any of its affiliates and their respective directors, officers, employees or agents or any other person acting on their behalf in connection with the Offer shall be responsible for any tax effects or liabilities resulting from acceptance of this Offer.

NEITHER THE SEC NOR ANY U.S. STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THE OFFER, PASSED ANY COMMENTS UPON THE MERITS OR FAIRNESS OF THE OFFER, PASSED ANY COMMENT UPON THE ADEQUACY OR COMPLETENESS OF THIS PRESS RELEASE OR PASSED ANY COMMENT ON WHETHER THE CONTENT IN THIS PRESS RELEASE IS CORRECT OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

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DKV Mobility continues its long-term growth strategy under family ownership and ends successful partnership with CVC

CVC Capital Partners
  • DKV Mobility, provider of international mobility services and for decades one of the leading companies in the mobility industry, now fully family-owned again
  • After a five-year partnership, the Fischer family repurchases the 20 percent minority stake from CVC
  • CVC, one of the world’s largest private equity firms with expertise in international investments and capital markets, acquired the shares in the fast-growing company in 2019 and, in line with the Fischer family, has since supported the management in further accelerating the growth trajectory
  • During this time the company has significantly increased its product and service offering and strengthened the positive development of business performance
  • DKV Mobility, which now has more than 2,500 employees, will continue to pursue its long-term growth strategy and, with the Fischer family as sole shareholder, implement new ideas and impetus for greater efficiency and sustainability for its customers

The Fischer family, who has been shareholder of the company since 1959, has reached an agreement with CVC to repurchase the 20 percent stake from funds under the management of CVC. CVC funds acquired this stake in the middle of 2019 and since then has worked closely with the Fischer family and the company’s management to further grow the company.

Jan Fischer, Majority Shareholder and Chairman of the Administrative Board of DKV Mobility, says: “We have built on the great potential DKV Mobility always had as a leading European mobility platform and made our company even more dynamic and competitive in recent years. I would like to thank our partner CVC, with whom we have further professionalized and internationalized the company together with the management. We are now looking forward to continuing the successful growth course in family ownership with investments and new ideas.”

DKV Mobility is a leading B2B platform for on-the-road payments and solutions, serving over 374,000 truck and fleet customers in more than 50 countries. Over the past few years, DKV Mobility broadened its product and service offerings and enhanced customer focus and satisfaction. In 2023, the company generated a transaction volume of €17 billion and revenue of €714 million. This was achieved by focusing not only on core business growth but also by exploring new business areas with targeted innovations and digital solutions. This included further international expansion through strategic acquisitions.

Quotes

The DKV Mobility investment is a showcase of how private equity, even from a minority position, can serve as a change agent while preserving the values and unique culture of a family-owned business.

Stefan MoosmannSenior Managing Director at CVC

Stefan Moosmann, Senior Managing Director at CVC, comments: “Since our entry in 2019, we have worked closely with the management and the Fischer family to transform DKV Mobility into an even stronger business and strengthen its market leading position. Today, DKV Mobility is a fast growing, scaled and digitally sophisticated organisation. The DKV Mobility investment is a showcase of how private equity, even from a minority position, can serve as a change agent while preserving the values and unique culture of a family-owned business.”

Both partners have agreed to maintain confidentiality regarding the details of the transaction. UniCredit supported the Fischer family as sole underwriter of the acquisition financing and as M&A adviser.

For three generations, the Fischer family has stood for the long-term success and special social responsibility of the company for its employees and customers. “Our purpose remains unchanged: To drive the transition towards an efficient and sustainable future of mobility,” said Jan Fischer, Chairman of the Administrative Board.

With the departure of CVC, its representatives are leaving the Administrative Board of DKV Mobility. Jan Fischer, Chairman of the Administrative Board: “I thank Mr. Dr. Alexander Dibelius, Mr. Dr. Daniel Pindur, and Mr. Stefan Moosmann for the successful collaboration over the past years.” New to the Administrative Board as independent members with immediate effect are Petra Ehmann and Frauke Heistermann. Petra Ehmann is an internationally experienced expert in innovation and technology. Among other roles, she is Group Chief Innovation and AI Officer at Ringier and a member of the Board of Directors at Bossard. Frauke Heistermann has many years of experience as an entrepreneur, Supervisory Board member and investor in the fields of IT, digitalisation and corporate management. She is currently Managing Partner of AXIT.capital GmbH and a member of the Supervisory/Advisory Boards of, amongst others, MDAX company BEFESA and Vahle.

For more information, visit: www.dkv-mobility.com.

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Carlyle Enters into Strategic Partnership with Unison to Purchase $300 Million of Equity Sharing Home Loans

Carlyle

NEW YORK, NY and SAN FRANCISCO, CA – September 17, 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to purchase up to $300 million of equity sharing home loans from Unison, the pioneer of equity sharing agreements. In addition, Carlyle made a strategic investment into Unison. This partnership will enable Unison to launch the Unison Equity Sharing Home Loan product and allow homeowners to access their growing pool of home equity as homes continue to appreciate.

U.S. homeowners have almost $32 trillion in home equity, but many are not refinancing their current low-interest first mortgages, which results in their biggest asset being inaccessible as homes continue to appreciate.

Unison’s newly launched Unison Equity Sharing Home Loan seeks to combine the benefits of home loans and home equity sharing agreements into a unique mortgage solution that allows homeowners to manage personal financial goals by converting home equity into cash with low monthly payments. This product offers homeowners a fixed below-market interest rate for accessing a portion of their home equity, while also allowing them to make use of the appreciation potential of their home.

“Our collaboration with Carlyle enables the Unison Equity Sharing Home Loan to turn dormant home equity into an active tool for financial empowerment for millions of Americans,” said Thomas Sponholtz, founder and CEO of Unison.

Matthew O’Hara, Chief Investment Officer at Unison added that “we aim to provide homeowners with the financial stability and flexibility lacking in traditional loan products and this partnership creates a win-win situation for both homeowners and Carlyle as an investment partner.”

“We are excited to partner with Unison to provide an attractive solution for homeowners to access their appreciating home equity,” said Akhil Bansal, Head of Credit Strategic Solutions at Carlyle. “Unison is a leader in equity sharing agreements and we’re confident our expertise in asset-backed finance can help increase origination and awareness for this new capital solution for homeowners.”

This transaction was led by Carlyle’s Credit Strategic Solutions (“CSS”), a group within the Global Credit business focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. CSS has deployed nearly $5 billion since 2021 and has roughly $7 billion in assets under management as of June 30th, 2024.

 

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 $435 billion of assets under management as of June 30, 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 2,200 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 Unison
Based in San Francisco and Omaha, Unison is pioneering a smarter, better way to own your home. Until now, the only way to harvest hard-earned equity was by selling your home, or taking on enormous additional debt. Through Unison equity sharing agreements and equity sharing home loans, we help homeowners access their equity in a new and innovative way with low or no monthly payments. We are an investment management company with over $1.8 billion in assets under management, and we furnish investors with the opportunity to access the returns associated with home price appreciation, minus the overhead of home ownership. Our equity sharing agreements have empowered 12,000 households to pursue financial wellness, and we’re proud to continue to enhance home affordability, reduce debt, and deliver a less risky way for homeowners, investors, and society to think about that important asset – the home. For additional information, visit www.unison.com and www.unisonim.com.

 

Media Contacts

Kristen Ashton
Phone: +1 212-813-4763
kristen.ashton@carlyle.com
Carlyle

Gary Bird
FortyThree, Inc.
Phone: + 1 831-888-9011
unison@43pr.com
Unison

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Apollo to Acquire Dutch Equipment Leasing Specialist Beequip from NIBC

Apollo logo

NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that balance sheet and other investor capital managed under its Aligned Alternatives platform have agreed to acquire Netherlands-based equipment leasing specialist Beequip from NIBC.

Founded in 2015, Beequip has grown to become a leading independent equipment financing company in the Netherlands, serving small and medium enterprises (SMEs) across Europe and internationally, with a current portfolio of €1.4 billion and €700 million of annual run-rate originations. Beequip offers financing and leasing solutions for new and used heavy equipment spanning transport, cranes, containers, maritime and more.

Beequip will further the build-out of Apollo’s European equipment finance platform, established in 2018 with UK-based Haydock Finance. The acquisition is consistent with Apollo’s origination platform strategy focused on high-quality, secured credit generation, diversified across corporate and consumer categories, including asset-backed finance.

“Beequip has established itself as a leader in the equipment finance space in its home market, with a strong team and robust underwriting to serve a growing base of SMEs in the Netherlands and beyond,” said Kevin Crowe,” Partner in Apollo’s Financial Institutions Group.

“We are pleased to welcome the Beequip team to Apollo’s origination ecosystem and to support the business as it continues to scale, meeting vital demand from SMEs to facilitate their business plans and fuel economic growth,” added Apollo’s Mikhail Rychev.

Beequip co-founders Giel Claes and Peter Loef said, “We are extremely proud of our team and the success we have achieved. Leveraging our expertise in equipment, our focus on used machinery, and our ‘iron above numbers’ philosophy, we have consistently increased market share. With the help of our self-developed fintech systems, we have provided entrepreneurs with user-friendly and tailored financing solutions for heavy equipment. We look forward to working in partnership with Apollo in this exciting next chapter, with a solid foundation for growth domestically and internationally alongside a steadfast commitment to risk management.

The transaction is subject to customary closing conditions and expected to be completed before the end of 2024.

Through the first half of 2024, Apollo reported record debt origination volumes of $92 billion in aggregate across the firm and its affiliate platforms, and for the 12-month period ending June 30, 2024, Apollo reported $146 billion of debt origination. Origination is integral to Apollo’s strategy seeking excess spreads in private investment grade credit to serve its retirement services businesses and other ratings-sensitive liabilities.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com / EuropeanMedia@apollo.com

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Aztec Group welcomes Warburg Pincus as strategic partner

Warburg Pincus logo

3 September 2024 – Aztec Group (“Aztec” or the “Group”), a leading international fund and corporate services provider, has today announced it has welcomed Warburg Pincus, a leading global growth investor, as a strategic partner, which will see Warburg Pincus become a minority shareholder and key client of the Group.

This agreement, which is subject to the relevant regulatory approvals, will support Aztec’s long-term ambitions and the expansion of its client services as it moves beyond its strong position in Europe to become a global player in the high-growth U.S. market and beyond.

With over $83bn in assets under management (AUM), Warburg Pincus intends to actively use Aztec as the preferred partner for certain fund administration services on an ongoing basis across its global footprint. The investment is a significant endorsement of Aztec’s current strategy and future prospects.

Having Warburg Pincus on board supports and accelerates Aztec’s build out of capacity and capability in the U.S. in particular, ensuring the Group is even better placed to serve its clients. As the largest Private Capital market in the world, U.S. Private Fund AUM is forecast to grow from $6.6 trillion in 2022 to $12.2 trillion in 2028, driven by a 10.8% CAGR which is the fastest of any region*. This partnership will ensure Aztec is in a stronger position to capitalise on these opportunities in the U.S. and more widely.

Founded in Jersey in 2001, Aztec Group delivers award-winning fund and corporate services to the alternative assets industry. Aztec has established itself as a leading player in Europe, while also expanding into new markets and broadening its offering, with an ambition to become the premium provider of private market asset services globally. The Group now employs over 2,100 people, managing over €600 billion in assets under administration and 450 funds for a wide range of clients, from large institutions and mid-market firms to multi-national corporates.

Warburg Pincus is an experienced growth investor and trusted partner to outstanding founder-owned businesses, with a strong history of continuing to build the legacy of these businesses. Within the Financial Services industry, it has invested more than $24 billion across more than 58 companies. Within Fund Administration specifically, Warburg Pincus has significant experience evaluating investment opportunities in the sector as well as significant in-house fund accounting and portfolio analysis expertise developed over decades as a leading global private equity firm.

Aztec will continue to be led by its experienced management team, headed by Chief Executive Officer Kathryn Purves, as the Group further develops into international markets and extends its client base. Founder and Chair, Edward Moore, will remain the Group’s majority shareholder.

Kathryn Purves, Chief Executive Officer, Aztec Group, said: “Welcoming Warburg Pincus highlights the increasing strength of Aztec and the significant potential that lies ahead. We are excited to partner with a global investor in Warburg Pincus, which has a strong track record in supporting businesses like ours to further their growth trajectories.

“In becoming a significant client of Aztec, Warburg Pincus is fully committed to retaining what makes Aztec so special: the strength of our teams and our proud record of providing world-class client service. We look forward to working together to capture the significant opportunities in Private Capital moving forwards.”

Andrew Sibbald, Managing Director and Head of Europe, Warburg Pincus, said: “We are delighted to partner with Aztec as both a shareholder and a client. We have enjoyed a long-standing relationship with Aztec and its excellent management team and have followed the successful growth of the business over many years. This has given us a strong belief in Aztec’s right to win in this attractive sector, founded upon a proven track record of delivery, deep market expertise and an exciting future vision. We look forward to supporting the continued development of Aztec’s existing market-leading position in Europe, while also scaling its offering to exploit attractive growth opportunities globally.”

ENDS

* Source: Preqin Future of Alternatives in 2028 Report

Notes to Editors

Aztec was advised by Evercore (M&A), Latham & Watkins, PriestlySoundy, Carey Olsen (Legal), EY (Tax), PWC (Financial) and Liberty Corporate Finance (Corporate Advisory). Warburg Pincus was advised by Kirkland & Ellis (Legal), Oliver Wyman (Commercial), EY (Financial & Tax), and Alvarez & Marsal (Operations & IT).

About Aztec Group

Established in 2001, Aztec Group is an award-winning independent provider of fund and corporate services, employing more than 2,100 people across The Channel Islands, Luxembourg, Ireland, the US and the UK. Owner-managed, the Group specialises in alternative investments, administering more than €600 billion in assets, 450 funds and 4,500 entities for a range of clients, spanning the major asset classes including private equity, venture capital, private debt, real estate and infrastructure. Please visit www.aztec.group for more information, and follow us on LinkedIn.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com. Follow us on LinkedIn.

Media contacts

Aztec Group

Ross Davidson, Head of Communications

M: +44 7913 020 745

E: ross.davidson@aztecgroup.co.uk

Tom Murray, Teneo

M: +44 7813 166 798

E: aztecgroup@teneo.com

Warburg Pincus

Jenna Ward, Europe Communications Director

M: +44 7570 844 338

E: jenna.ward@warburgpincus.com

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Cinven enters into exclusive negotiations with Ardian to acquire the Finaxy group

Ardian

International private equity firm Cinven is pleased to announce that it has entered into exclusive negotiations to acquire the Finaxy group (‘Finaxy’ or ‘the Company’), a leading French multi-specialist insurance broker, from Ardian, a world-leading private investment house. The management team, led by Founder and CEO Erick Berville, will significantly reinvest alongside Cinven. Financial details of the transaction are confidential.

Established in 2009 and headquartered in Paris, Finaxy is a leading player in the French insurance brokerage market with over 330 employees, having delivered strong organic growth and executed a successful buy-and-build strategy, including more than 30 acquisitions in France. The Company has established a strategic position across its three specialised divisions: “Enterprise” that is focused on the insurance of major Property and Casualty (‘P&C’) and Health and Protection risks for businesses; “Affinities” that specialises in niche insurances; and “Solutions” that manages and develops the group’s major strategic and institutional partnerships.

Since Ardian’s majority acquisition in 2020, Finaxy has invested significantly to accelerate the development of its multi-specialist broker model with the addition of new niche verticals and continued regional expansion. This strategy has strengthened Finaxy’s leadership in the SME / mid-size enterprise segment and has translated into a path of continued strong revenue growth. Finaxy also continued its industry diversification and acquisition strategy through, amongst others, the acquisition of Xplorassur in its Affinities division.

Cinven would be investing out of its Strategic Financials Fund that specialises in the financial services industry and brings substantial experience of investing in and growing insurance brokers. Cinven will look to work closely with the Finaxy management team and contribute significant resources and capital to further accelerate strategic value-enhancing M&A across the fragmented French market, and to drive further growth by attracting new team hires, while upholding Finaxy’s commitment to long-term client-focused delivery.

“We are delighted to partner with Erick Berville, Philippe Guetta, Cyril Chazarain and the rest of the team and we look forward to supporting them in their growth ambitions. The Company has a differentiated position in a resilient and expanding market, and we see a tremendous opportunity to accelerate Finaxy’s current growth momentum.” Juan Monge, Partner, Cinven

“Finaxy is a unique opportunity for Cinven funds to invest in a French multi-specialist broker of scale. Drawing on Cinven’s significant experience in insurance brokerage and Cinven’s strong presence in France and across Europe, we believe Cinven will be the perfect partner to lead Finaxy in its next stage of growth.” Luigi Sbrozzi, Partner and Head of the Strategic Financials Funds, Cinven

“The acquisition of Finaxy is the result of Cinven’s considerable track-record in financial services combined with our strong presence in the French market. We look forward to supporting the Finaxy team in their next phase of development.” David Giroflier, Senior Principal, Cinven

“The Executive Board: Philippe Guetta, Cyril Chazarain and I, together with the Group’s management, would like to thank François Jerphagnon, Alexis Lavaillote and all the Ardian Expansion teams for the 4 years we have spent together and for their unfailing support for the Finaxy group. This close collaboration has enabled us to achieve our growth objectives and keep to our development plan with an excellent atmosphere of cooperation. 15 years after its creation in 2009, the Finaxy group is now one of the top 10 brokers in France, with more than 700 million premiums collected, mainly in insurance for small and medium-sized businesses, and a strengthened position as a multi-specialist broker, particularly following the creation in 2023 of Xplorassur, number 1 in travel insurance and assistance.  We have chosen to continue our adventure with Cinven in order to pursue and significantly accelerate our organic and external growth. Having already established a foothold abroad, we now have a shared desire to focus on a new major area of international development.” Erick Berville, Founder and CEO, Finaxy

“We were proud to work alongside the Finaxy teams. They have developed the group both organically and through a series of strategic acquisitions. The growth potential is still very significant. Management’s focus on digital, ESG and human capital issues has also been a powerful driver of value creation.” Alexis Lavaillote, Managing Director Expansion, Ardian

Centerview Partners acted as financial advisor to Cinven on the transaction.

The transaction is subject to regulatory approvals and other customary closing conditions.

ABOUT CINVEN

Cinven is a leading international private equity firm focused on building world-class global and European companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg.
Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society.
Cinven Limited is authorised and regulated by the Financial Conduct Authority.
In this press release ‘Cinven’ means, depending on the context, any of or collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, and their respective Associates (as defined in the Companies Act 2006) and/or funds managed or advised by any of the foregoing.

cinven.com

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media Contacts

CINVEN

Clare Bradshaw

clare.bradshaw@cinven.com+44 (0)7881 918 967

FTI CONSULTING LLP (ADVISERS TO CINVEN)

Edward Bridges

edward.bridges@fticonsulting.com+44 (0)7768 216 607

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Miami International Holdings Secures Investment for Strategic Growth from Warburg Pincus

Warburg Pincus logo

Investment, led by Warburg Pincus’ Capital Solutions team, to drive next phase of innovation and expansion

MIAMI AND PRINCETON, N.J. — August 22, 2024 — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced a $100 million investment from Warburg Pincus, a leading global growth investor. Subject to certain conditions, Warburg Pincus may expand its investment in MIH to support additional growth.

The growth investment will accelerate the next phase of MIAX’s global expansion as it executes on its strategy of building a diversified revenue stream across multiple asset classes and geographies. Among other uses, the investment will fund the construction and fit-out of a physical trading floor in Miami, Florida for MIAX Sapphire, MIH’s fourth national securities exchange for trading U.S. multi-listed options. MIAX Sapphire will operate both an electronic exchange and physical trading floor. The electronic exchange successfully launched on August 12, 2024, with the trading floor in Miami scheduled to go live in 2025.

MIAX Sapphire will be the first national securities exchange to establish operations in Miami. The new trading facility will include a next-generation trading floor, ancillary office space for MIAX employees and market participants, conference facilities and broadcast media space.

“We are pleased to welcome Warburg Pincus as a strategic partner and look forward to leveraging its highly respected expertise and deep network of relationships in global financial services. Together with our exchange member firms we believe we have assembled a group of the top financial partners in the world,” said Thomas P. Gallagher, Chairman and CEO of MIH. “The investment will provide MIH with additional funding to expand strategic partnerships in financial futures and proprietary products and will also provide capital to pursue acquisitions in the U.S. and internationally to accelerate our continued growth.”

The investment will also support further growth and expansion of MIH’s agricultural and financial futures businesses on its two U.S. futures exchanges, Minneapolis Grain Exchange (MGEX) and MIAXdx including the development of new matching engine and clearing technology using MIH’s proprietary technology. Additionally, the investment will fund the Company’s expansion plans into international markets including the development and trading of new proprietary and other financial products.

“Tom Gallagher and the leadership team at MIAX have successfully engineered a technology-driven family of exchanges that set a new standard of reliability and excellence in the U.S. options trading industry. Our investment, along with ample dry powder to help support future growth, reflects our confidence in MIAX’s potential,” said Gaurav Seth, Managing Director, Head of Capital Solutions, Americas at Warburg Pincus. “We are thrilled with MIAX’s progress to date and excited about the significant opportunities for MIH.”

“Our investment provides capital at a pivotal moment for MIAX,” said Lee Becker, Managing Director and member of the Capital Solutions team at Warburg Pincus. “With MIAX’s strong, collaborative relationships with leading market participants, this investment supports our conviction in the entire MIAX management team and its strategy to drive continued growth and expansion across multiple asset classes in the exchange space.”

Lee Becker will join the board of directors of MIH. Mark Messing, Vice President at Warburg Pincus and member of the Capital Solutions team, will attend board meetings as a visitor.

Piper Sandler & Co. acted as financial advisor to MIH and Broadhaven Capital Partners acted as financial advisor to Warburg Pincus in connection with the transaction.

Davis Polk & Wardwell, LLP served as financing counsel to Warburg Pincus and Cleary Gottlieb Steen & Hamilton LLP served as financing counsel to MIH. Gallagher, Briody & Butler serves as corporate counsel to MIH.

Appleby (Bermuda) Limited served as special financing counsel in Bermuda to Warburg Pincus and BeesMont Law Limited serves as legal counsel in Bermuda to The Bermuda Stock Exchange (BSX), a wholly owned subsidiary of MIH.

About MIAX

MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire, LLC (MIAX Sapphire™), Minneapolis Grain Exchange, LLC (MGEX™), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MGEX offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.

To learn more about MIAX visit www.miaxglobal.com.

To learn more about MGEX visit www.miaxglobal.com/mgex.

To learn more about MIAXdx visit www.miaxdx.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies.

Warburg Pincus’ Capital Solutions team collaborates closely with the firm’s 270+ investment professionals and 40+ value creation executives across Warburg Pincus’ global industry verticals, critical to sourcing and underwriting differentiated, attractive investments. In addition to a long and successful track record of investing in capital solutions like transactions historically, the Warburg Pincus Capital Solutions Founders Fund portfolio consists of investments including, DriveCentric, Excelitas, Nord Security, and Service Compression.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information visit www.warburgpincus.com. Follow us LinkedIn.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contacts:

Andy Nybo, SVP, Chief Communications Officer

(609) 955-2091

anybo@miaxglobal.com

Sarah Bloom, Warburg Pincus

Sarah.bloom@warburgpincus.com

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