Tag Archives: Investments

IK Partners closes Fund X at €3.3 billion hard cap

IK Partners

IK Partners (“IK” or “the Firm”), a leading European private equity firm, is pleased to announce that it has closed its 10th Mid Cap fund, the IK X Fund (“IK X” or “the Fund”), having reached its hard cap of €3.3 billion and representing the largest fund the Firm has raised to date. IK’s previous Mid Cap fund, IK IX, raised €2.85 billion in 2020.

IK X attracted significant interest from a high-quality institutional investor base across EMEA (64%), Asia (20%) and the Americas (16%), with a record amount of capital raised from limited partners investing in IK funds for the first time.

This announcement follows a period of record activity for the Firm which saw IK invest in 20 new companies and exit 11 since the start of 2024.

IK X has already made seven investments to date and will continue investing in established European mid-market businesses valued above €200 million across four core sectors of Business Services, Healthcare, Consumer and Industrials.

Christopher Masek, CEO of IK Partners, said: “We are grateful to have once again secured the support of our investors to continue delivering on the strategy of our flagship fund, supporting exceptional businesses in the European mid-market to achieve their full potential. After a record year of activity in 2024 and strong start to 2025, we look forward to maintaining this momentum and driving value across the entire IK platform.”

Dan Soudry, Managing Partner and Head of Mid Cap Strategy, commented: “We are very pleased to announce the final close of IK X in our flagship Mid Cap strategy, which has generated significant interest from a diverse mix of investors. We have already made good progress with the deployment of capital from the Fund and look forward to continuing to invest in leading companies across Europe in all our target sectors.”

Mads Ryum Larsen, Managing Partner and Head of Investor Relations, added: “We thank each of our investors – both existing and new – for placing their trust in IK by contributing to the successful close of our largest ever fund. Against a challenging market environment, we are delighted that IK’s proposition continues to resonate and are grateful for their continued confidence and support.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

H/Advisors Maitland
Finlay Donaldson
Phone: +44 (0) 7341 788 066
finlay.donaldson@h-advisors.global

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €19 billion of capital and invested in over 200 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Lincoln Financial announces plans to launch two new private market funds to expand its solutions platform

BainCapital

The company is partnering with Bain Capital and Partners Group to meet evolving client needs

Radnor, PA – March 19, 2025 – Lincoln Financial (NYSE: LNC), a leading provider of insurance, annuities, group benefits, and retirement solutions, announces its expansion into the rapidly growing private markets industry, partnering with Bain Capital, a leading global private investment firm, and Partners Group, one of the largest firms in the global private markets industry, to launch two new private markets-focused funds.  Lincoln expects the new offerings to be available in late 2025.

“Powered by industry-leading distribution capabilities, a vast network of strategic partner relationships and a nearly 120-year track record of serving customer needs, Lincoln, in partnership with Bain Capital and Partners Group, is well-positioned to deliver innovative and differentiated investment solutions,” said John Kennedy, executive vice president, Chief Distribution & Brand Officer. “This collaboration is a natural extension of Lincoln’s long-standing partnerships with top-tier asset managers and furthers our ability to provide consultative support for financial professionals to meet the evolving needs of their clients.”

Bain Capital will partner with Lincoln Financial to provide investors access to an evergreen fund offering focused on a globally varied portfolio of private credit investments, including direct lending, asset-based finance, and structured credit. With more than 25 years of multi-asset credit investing experience, Bain Capital will leverage its dynamic approach to investing and the deep expertise of its team to source, analyze, and execute compelling opportunities across global debt markets.

Lincoln Financial is partnering with Partners Group to launch an evergreen fund that will provide access to a globally varied cross-sector private markets royalty portfolio. Partners Group will follow a relative value approach to invest across both well-established royalty sectors, such as intellectual property assets in the pharmaceutical and entertainment industries, and emerging high-growth sectors like energy transition, sports, and brands. The fund will look to employ a range of structures, including direct purchases of royalties, creating royalties, and lending against royalties.

“Private market investments have been a staple within the portfolios of institutional and high-net-worth investors for decades. However, in recent years, the demand from individual investors has increased as they seek access to the return potential and diversification benefits that private markets can bring to a well-diversified portfolio,” said Jayson Bronchetti, executive vice president, Chief Investment Officer.  “The private market investment strategies we have deployed through our multi-manager framework have enabled us to drive value within our own investment portfolio,” Bronchetti added. “We are thrilled to leverage our asset management relationships and investment and fund structure expertise to create private market funds for our customers to invest directly into these strategies with Bain Capital and Partners Group.”

“By combining our deep expertise in private markets with Lincoln’s innovative, expansive distribution platform, we can further expand access to private markets for more investors,” said John Wright, Partner and Global Head of Credit at Bain Capital. “We look forward to partnering with an institution that has spent more than a century building a legacy of trust, financial stewardship, and value creation for its clients.”

“We’re excited to extend our long-standing strategic partnership with Lincoln to bring a new offering to the US private wealth market,” said Nicholas Hegarty, Managing Director and Co-Head of Client Solutions Americas at Partners Group. “Our 20-year plus track record in managing bespoke evergreen solutions and deep expertise in private markets royalties, coupled with Lincoln’s market-leading distribution capabilities, provide strong foundations from which to deliver a very impactful private markets solution.”

Industry veteran Tom Morelli, Investment Distribution, was recently hired to advance Lincoln’s distribution efforts with private market funds and other investment solutions, leveraging Lincoln’s broad set of capabilities and expertise across distribution and investments.

About Lincoln Financial
Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of December 31, 2024, the company has $321 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates, including broker-dealer/affiliate Lincoln Financial Distributors, Inc.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and over USD 150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit http://www.partnersgroup.com.

Registration statements for each of the evergreen funds have been filed with the Securities and Exchange Commission and are available from the EDGAR database on the SEC’s website (www.sec.gov). The information in the registration statements is not complete and may be changed. The securities of neither fund may be sold until its registration statement is effective. An investor should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. This and other information about each fund will be contained in the fund’s final prospectus, which investors should read carefully when available from the EDGAR database on the SEC’s website (www.sec.gov). This communication is not an offer to sell the shares of either fund and is not soliciting an offer to buy the shares of either fund in any state where the offer or sale is not permitted.

Bain Capital and Partners Group are not affiliated with Lincoln Financial.

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Gimv welcomes Bart Troubleyn to lead Gimv Anchor

GIMV

Following the recent official launch of Gimv Anchor, a collaboration between Gimv and WorxInvest to support Gimv’s growth ambitions, Gimv is pleased to announce the arrival of Bart Troubleyn as Head of Gimv Anchor. In that capacity, Bart will also become a member of Gimv’s Executive Committee.

Based on Gimv’s expertise and experience of building leading companies, Gimv Anchor wishes to embark on a long-term pathway for growth together with companies  that have a promising compounding growth potential.

Last February, Gimv announced the incorporation of Gimv Anchor Investments through which Gimv and WorxInvest are joining forces around this long-term investment approach, as well as Cegeka as Gimv Anchor’s first investment.

Gimv is therefore pleased to announce that the Board of Directors has appointed Mr. Bart Troubleyn to head Gimv Anchor. As a Managing Partner, Bart will also become a member of Gimv’s Executive Committee. Bart will take on the role of Head of Anchor as of mid-April, working closely with all Managing Partners and teams of the Gimv platforms in terms of both deal sourcing and in further strengthening the active value creation across platforms.

Bart has a solid track record as CEO, COO, and business consultant working for and with both large global corporations and entrepreneurial family-owned businesses, including Sea Invest, Manuchar and Roland Berger. Bart gained extensive international experience across different continents.

Filip Dierckx, Chairman of the Board of Directors, and Koen Dejonckheere, CEO, jointly declare: “We are delighted to welcome Bart to lead Gimv Anchor. With a proven track record in general management, strategy, M&A, corporate restructuring and IT/digital transformation, Bart brings a wealth of experience to Gimv. We wish him lots of success and look forward to working together to further develop Gimv Anchor as a long-term growth driver for Gimv.”

Bart Troubleyn, Head of Gimv Anchor, adds: “It is an honor to take on the role of Head of Gimv Anchor and contribute to Gimv’s ambitious plans to accelerate growth and create value by building leading companies. I look forward to working with the Gimv Team in realizing the mission of Gimv Anchor: supporting companies with a promising long-term growth potential by providing them with capital, knowledge and experience to boost that further growth.”

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Repurchases of shares by EQT AB during week 11, 2025

EQT AB Group

Between 12 March 2025 and 14 March 2025 EQT AB (LEI code 213800U7P9GOIRKCTB34) (“EQT”) has repurchased in total 345,000 own ordinary shares (ISIN: SE0012853455).

The repurchases form part of the repurchase program of a maximum of 4,931,018 own ordinary shares for a total maximum amount of SEK 2,500,000,000 that EQT announced on 11 March 2025. The repurchase program, which runs between 12 March 2025 and 16 May 2025, is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052.

EQT ordinary shares have been repurchased as follows:

Date: Aggregated volume (number of shares): Weighted average share price per day (SEK): Aggregated transaction value (SEK):
12 March 2025 115,000 307.2624 35,335,176.00
13 March 2025 115,000 308.4788 35,475,062.00
14 March 2025 115,000 310.7410 35,735,215.00
Total accumulated over week 11 345,000 308.8274 106,545,453.00
Total accumulated during the repurchase program 345,000 308.8274 106,545,453.00

All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB on behalf of EQT.

Following the above acquisitions and as of 14 March 2025, the number of shares in EQT, including EQT’s holding of own shares is set out in the table below.

Ordinary shares Class C shares1 Total
Number of issued shares2 1,241,510,911 496,056 1,242,006,967
Number of shares owned by EQT AB3 60,269,191 – 60,269,191
Number of outstanding shares 1,181,241,720 496,056 1,181,737,776

1) Carry one tenth (1/10) of a vote

2) Total number of shares in EQT AB, i.e. including the number of shares owned by EQT AB

3) EQT AB shares owned by EQT AB are not entitled to dividends or carry votes at shareholders’ meetings

A full breakdown of the transactions is attached to this announcement.

Contact

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR ‌​​269 billion in total assets under management (EUR ‌​​‌136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

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

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EQT AB resolves on repurchase of own ordinary shares

eqt

EQT Group Office

The Board of EQT AB (“EQT”) has resolved to repurchase a maximum of 4,931,018 own ordinary shares.

  • The resolution is made by virtue of the authorization granted by the Annual Shareholders’ Meeting held on 27 May 2024 to repurchase own shares.
  • A maximum of 4,931,018 ordinary shares (0.4% of EQT’s share capital) are to be repurchased, and the total maximum amount is SEK 2,500,000,000.
  • The repurchase corresponds to approximately SEK 1,464m based on the closing price for EQT’s share on Nasdaq Stockholm on 11 March 20251.
  • Repurchases may be made during the period 12 March – 16 May, 2025.
  • As previously communicated, EQT expects to execute share buyback programs twice a year to offset – over time – the dilution impact from shares delivered to EQT’s employees under its Share and Option incentive programs.
  • Together with the share buyback program completed in August 2024, the buyback corresponds to the maximum potential dilution for the 2024 Share and Option incentive programs.

Purpose and terms
The purpose of the repurchase program is to adjust EQT’s capital structure (by way of cancellation of shares). The repurchase program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The repurchase program will be managed by Skandinaviska Enskilda Banken AB (“SEB”) that, based on the trading order given by EQT to SEB, makes its trading decisions regarding timing of the acquisitions independently of EQT.

The repurchase program resolved by the Board is subject to the following terms:

  1. Repurchases may only be effected on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rulebook for Issuers of Shares (the “Rulebook”) as well as in accordance with MAR and the Safe Harbour Regulation.
  2. Repurchases may be made on one or several occasions during the period 12 March – 16 May, 2025.
  3. Repurchases may only be effected at a price per share within the price interval applying on Nasdaq Stockholm from time to time, which refers to the interval between the highest buying price and the lowest selling price continuously disseminated by Nasdaq Stockholm, and in accordance with the restrictions relating to price in the Safe Harbour Regulation.
  4. Repurchases may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation.
  5. A maximum of 4,931,018 own ordinary shares may be repurchased for a total maximum amount of SEK 2,500,000,000.
  1. Payment for the shares shall be made in cash.

The number of shares in EQT as of the date of this press release is set out in the table below.

Ordinary shares Class C shares2 Total
Number of issued shares3 1,241,510,911 496,056 1,242,006,967
Number of shares owned by EQT AB4  59,924,191 – 59,924,191
Number of outstanding shares 1,181,586,720 496,056 1,182,082,776

1) SEK 296.8 / share.
2) Carry one tenth (1/10) of a vote. Includes 385,499 C shares reclassified to ordinary shares resolved by the Board on 11 March 2025, pending registration.
3) Total number of shares in EQT AB, i.e. including the number of shares owned by EQT AB.
4) EQT AB shares owned by EQT AB are not entitled to dividends and carry no votes at shareholders’ meetings.

Contact

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

Downloads

About EQT

EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR ‌​​269 billion in total assets under management (EUR ‌​​‌136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

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

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Hassana Investment Company and Warburg Pincus Sign MoU to Explore Investment Opportunities in Saudi Arabia

Warburg Pincus logo

Riyadh /New York 5 March 2025 –- Hassana Investment Company and Warburg Pincus, the pioneer of private equity global growth investing, have signed a Memorandum of Understanding (“MoU”) to strengthen the firms’ strategic partnership and collaborate on investment opportunities within the Kingdom of Saudi Arabia.

On the sidelines of a roundtable discussion that was held at the Ministry of Investment, in the presence of His Excellency the Assistant Minister, Eng. Ibrahim Almubarak, the MoU was signed by Mr. Ahmed W. Alqahtani, CIO of Regional Markets at Hassana, and Mr. Jeffrey Perlman, CEO, Warburg Pincus.

The partnership between Hassana and Warburg Pincus reinforces their mutual commitment to identifying and investing in high-growth sectors across different asset classes. Through this collaboration, both firms will leverage their respective expertise to explore and execute investment opportunities that contribute to the Kingdom’s long-term economic growth.

As one of the region’s most active institutional investors, Hassana is dedicated to creating long-term value and delivering the best outcomes across asset classes and geographies. Warburg Pincus, with its nearly 60-year track record of delivering consistent returns to investors, has remained focused on disciplined investing, diversification and investing in global, growth-oriented businesses. Both institutions will bring strategic insights and access to high-quality investment opportunities.

Commenting on the partnership, Hani Al-Jehani, Chief of Investment Officer – International Markets, Hassana Investment Company, stated: “Our relationship with Warburg Pincus in international markets is a decade long partnership and we look forward to extending the partnership to consider potential opportunities in the Kingdom of Saudi Arabia. Warburg Pincus has deep expertise in several domains that align with the economic goals of the Kingdom and is entrusted by LPs globally to manage their assets.”

He added: “At Hassana, we look forward to expanding our cooperation to explore potential investment opportunities in the Kingdom, as it is witnessing economic transformations that reflect the objectives of Saudi Vision 2030, contributing to creating an attractive investment environment for local and international investors.”

Jeffrey Perlman, Chief Executive Officer, Warburg Pincus, added: “We see incredible investing opportunities in the Middle East. This agreement reflects our shared commitment to support growth in the Kingdom of Saudi Arabia. Partnering with Hassana deepens our relationships in the region and allows us to identify strong investment opportunities and management teams looking for their next chapter of growth.”

-Ends-

About Hassana Investment Company

Hassana Investment Company is the investment manager of the General Organization Social Insurance in Saudi Arabia. Hassana manages one of the largest pension funds in the world with over SAR1.2 trillion Saudi riyals (300 billion US dollars) of assets under management.

Hassana’s investment strategy focuses on long-term growth and uses a comprehensive approach to asset management, aiming to secure the future retirement pensions of Saudi generations.

To learn more, please visit: www.Hassana.com.sa

About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

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 or follow us on LinkedIn.

For media inquiries, please contact:

Kerrie Cohen | Managing Director, Global Head of Communications & Marketing, Warburg Pincus

kerrie.cohen@warburgpincus.com

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CVC closes third generation Strategic Opportunities fund at €4.61 billion

CVC Capital Partners

Latest fundraising continues the platform’s successful track record, with CVC’s long-term private equity strategy having secured total commitments of over €13 billion across three vintages.

CVC is pleased to announce the final close of CVC Strategic Opportunities III with total commitments of €4.61 billion, matching the size of its predecessor fund, CVC Strategic Opportunities II, and significantly increasing the number of investors committed to the strategy.

CVC’s Strategic Opportunities platform invests in high-quality, stable businesses that present an attractive risk-return profile over a longer investment horizon relative to traditional private equity mandates. Focused on Europe and North America, CVC Strategic Opportunities typically invests for a longer period compared to the broader private equity industry’s average hold period. Through the platform’s long-term approach, CVC seeks to maximize value creation initiatives on behalf of its investors and portfolio companies. The team often partners with founding families or foundations seeking long-term capital and operational resources to take their business to the next stage of development.

Quotes

We are truly grateful to our investors for supporting this fundraise, which reinforces our conviction that there is significant demand for a successful, longer-term private equity strategy

Lorne SomervilleManaging Partner and Co-Head CVC Strategic Opportunities

Lorne Somerville, Managing Partner and Co-Head CVC Strategic Opportunities said: “We are truly grateful to our investors for supporting this fundraise, which reinforces our conviction that there is significant demand for a successful, longer-term private equity strategy. As we embark on investing our third vintage, adding to our strong, stable and performing portfolio, we believe we are well-positioned to continue delivering consistent and attractive returns for our Strategic Opportunities investors.”

Jan Reinier Voûte, Managing Partner and Co-Head CVC Strategic Opportunities, added: “Over our previous two vintages, we have built a strong track record through our long-term approach to value creation. Looking at our pipeline, we’re energised by the opportunities to partner with high-quality businesses  and drive enduring growth, leveraging our team’s robust operational resources.”

Since inception, the platform has committed over €7.5 billion to 18 businesses offering long-term strategic development opportunities across sectors and geographies. Examples of CVC Strategic Opportunities investments include: Asplundh, the market leader in vegetation management and other services to major utilities in North America, Australia and New Zealand; Sebia, a world-leading provider of diagnostic testing equipment; and most recently, Hempel, a leading international supplier of coating solutions.

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KKR Upsizes and Prices Offering of Mandatory Convertible Preferred Stock

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has priced its previously announced offering of $2.25 billion (45,000,000 shares) of its 6.25% Series D Mandatory Convertible Preferred Stock (the “mandatory convertible preferred stock”) at a price to the public and liquidation preference of $50.00 per share. The offering was upsized from the previously announced size of $1.50 billion (30,000,000 shares). The underwriters have a 30-day option to purchase up to an additional $337.50 million (6,750,000 shares) of mandatory convertible preferred stock, solely to cover over-allotments, if any. The offering is expected to close on March 7, 2025, subject to customary closing conditions.

The net proceeds from the mandatory convertible preferred stock offering will be approximately $2.20 billion (or approximately $2.53 billion if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts and estimated offering expenses. KKR intends to use the net proceeds from the offering for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment and for other general corporate purposes.

Unless earlier converted at the option of the holders, each share of mandatory convertible preferred stock will automatically convert on March 1, 2028 (subject to postponement for certain market disruption events) into between 0.3312 and 0.4140 shares of KKR’s common stock, subject to certain customary anti-dilution adjustments. The number of shares of common stock issuable upon conversion will be determined based on the average volume-weighted average price per share of common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately preceding March 1, 2028.

Dividends on the mandatory convertible preferred stock will be payable on a cumulative basis when, as and if declared by KKR’s board of directors, at an annual rate of 6.25% on the liquidation preference of $50.00 per share. If declared, these dividends will be paid in cash, in shares of common stock or in a combination of cash and shares of common stock, at KKR’s election, subject to certain limitations, on March 1, June 1, September 1 and December 1 of each year, commencing on June 1, 2025, and ending on, and including, March 1, 2028.

Currently, there is no public market for the mandatory convertible preferred stock. KKR has applied to list the mandatory convertible preferred stock on the New York Stock Exchange under the symbol “KKR PR D.”

Morgan Stanley & Co. LLC, KKR Capital Markets LLC, Goldman Sachs & Co. LLC and UBS Securities LLC are acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email to prospectus@morganstanley.com; KKR Capital Markets LLC, by telephone at (212) 750-8300 or by email to ECMCapitalMarkets@kkr.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282; and UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the mandatory convertible preferred stock or any other securities, and shall not constitute an offer, solicitation or sale of the mandatory convertible preferred stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
Tel: + 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

 

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Adelis Equity Partners Closes EUR 1.6 billion Fourth Fund

Adelis Equity

Adelis Equity Partners Fund IV has held a final close. The Fund will continue its predecessor funds’ focus on growth-oriented investments in the Nordic and DACH regions.

Adelis Equity Partners Fund IV (Adelis IV) held a final close on 28 February 2025, following a quick and successful fundraising. The Fund, which was significantly oversubscribed, raised EUR 1.5 billion from external investors, on top of which Adelis’ employees have committed to invest 7.7% (equivalent to EUR 116 million) for a total fund size of EUR 1.616 billion.

Investors in Adelis IV include leading pension funds, foundations and fund-of-funds from Europe and North America. Seventy-five per cent of the Fund’s external capital came from investors in Adelis Equity Partners Fund III, who collectively increased their investment amount by 30% compared to the Fund’s predecessor.

Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has consistently been one of the most active investors in the Nordic middle-market, making 45 platform investments and more than 260 add-on acquisitions.

Adelis Equity Partners Fund III raised EUR 932 million in 2021. Since its inception, the firm has raised EUR 4.25 billion of capital across four flagship funds and two continuation vehicles.

“We are grateful for the strong support from our existing investors and very pleased to have broadened our investor base with additional blue-chip institutions from Europe and North America” says Jan Åkesson at Adelis.

Adelis received legal advice from Akin Gump Strauss Hauer & Feld and Vinge in the fundraising process. Park Hill Group served as exclusive placement adviser.

For further information:

Jan Åkesson, Chairman and Co-Founder, + 46 8 525 200 01.

Adalbjörn Stefansson, Head of Investor Relations, +46 8 525 200 04.

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Platinum Equity’s 2024 Highlighted by $12.4B Fund VI Close, Ingram IPO, Deal Uptick

Platinum

In spite of a challenging climate for fund raising, Platinum Equity Capital Partners VI (“Fund VI”) closed in 2024 with $12.4 billion in capital commitments, exceeding its target.

The global M&A markets saw some signs of a rebound last year after a slow 2023. Platinum Equity reacted with a combination of discipline and creativity, completing 12 new platform acquisitions and 59 add-ons across multiple sectors. The firm’s credit team also had another active year.

Harvesting value was a top priority with 13 divestitures and several other monetization events.

Arguably the most visible news happened in October when Ingram Micro returned to public markets in an initial public offering. The day served as a reminder of the promise Platinum Equity recognized in Ingram Micro when the firm acquired the technology distributor in 2021.

Platinum Equity Chairman and CEO Tom Gores and the firm continued to make positive impact in the community. Gores’ $3 billion partnership with Henry Ford Health and his alma mater Michigan State University to transform a Detroit neighborhood received critical local approval.

Gores and Platinum Equity continued their support of the Jalen Rose Leadership Academy, helping raise money for the public charter school in Detroit and working as mentors to JRLA scholars. The firm’s portfolio companies awarded scholarships, raised millions of dollars for charities, and donated time to help those in need.

Although indications are pointing toward a continued M&A uptick in 2025, global activity remains below historical norms. Armed with access to capital and teams capable of pursuing transactions of any size anywhere in the world, the firm is confident in its ability to react to whatever this year has in store.

 

“Although we have grown, we’ve stayed true to our fundamentals. And ultimately, that’s what it’s all about, our ability to execute. The world has gone through up and downs, faced challenges, but Platinum Equity always adjusts.”

Tom Gores, Chairman and CEO, Platinum Equity

 “We’ve been in business for nearly 30 years, and we’ve grown, we’ve matured,” Platinum Equity Founder and CEO Tom Gores said. “We’ve gone through multiple economic cycles, a pandemic, other complicated times.

“Although we have grown, we’ve stayed true to our fundamentals. And ultimately, that’s what it’s all about, our ability to execute. The world has gone through up and downs, faced challenges, but Platinum Equity always adjusts.”

Here’s a look back at 2024:

Platinum Equity Fund VI Closes On $12.4 Billion in Capital Commitments

Fund VI, which closed in the first half of 2024, exceeded its $12 billion target and represents the firm’s largest capital raise to date, surpassing Platinum Equity Capital Partners V, which closed on $10 billion in 2020.

The offering generated high demand from a diverse range of institutional investors around the world and overcame stiff industrywide headwinds that sidelined some managers or forced them to downsize. Fund VI closed with nearly 400 limited partners from 37 countries, featuring a mix of new and long-time investors attracted to the firm’s specialized M&A&O® approach.

Platinum Equity-Backed Ingram Micro Begins Trading on NYSE

Executives from Ingram Micro rang the bell at the New York Stock Exchange (NYSE) in October to celebrate the global technology distributor’s return to public markets. Since Platinum Equity acquired the business in 2021, the firm has partnered with Ingram on a comprehensive operational improvement plan, accelerated its digital transformation initiatives, and used buy- and sell-side M&A to sharpen the company’s focus on its core business.

Platinum Equity Sells Minority Stake in Jostens, Recaps Balance Sheet

Platinum Equity sold a minority stake in Jostens to Koch Equity Development LLC in a $640 million recapitalization in November. Founded in 1897 and headquartered in Minneapolis, Jostens is a provider of custom class jewelry, graduation products and yearbooks serving the K-12 and college education markets.

Platinum Equity Closes Multiple Complex Carveouts

Platinum Equity completed the acquisition of a majority interest in Horizon Organic and Wallaby from Danone in April. Horizon Organic’s portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter. Also, Platinum Equity closed its deal with Kohler Co. in May to establish Kohler Energy as a separate independent business and officially rebranded it Rehlko, a provider of resilient energy solutions. Platinum Equity is the majority shareholder in the new company and Kohler Co. remains an investment partner.

Platinum Equity Expands Portfolio of Food and Beverage Investments

In December, Platinum Equity acquired a majority stake in Polli, a producer of pasta sauces and vegetable preserves. In November, Platinum Equity and Butterfly, a private equity firm specializing in the food sector completed the acquisition of Rise Baking Company, a supplier of bakery products. Polli and Rise join Horizon Organic, rum bottler E&A Scheer, wine distributor Fantini Group, sweet biscuits maker Biscuit International and frozen seafood producer Iberconsa as portfolio companies in the food and beverage space.

Sunrise Medical Acquisition Highlight of Firm’s European Activity

Platinum Equity’s London team led the acquisition of wheelchair company, Sunrise Medical, which closed in September. The Germany-based company develops, designs, manufactures and distributes assistive mobility products and solutions such as manual and power wheelchairs. Sunrise Medical’s products are sold through a network of homecare medical product dealers or distributors in more than 130 countries. The E&A Scheer and Polli investments were led by the firm’s European Small Cap team.

Platinum Equity Active on Buy- and Sell-Side in Canada

In July, the firm signed a definitive agreement to acquire Héroux-Devtek, a Québec-based international manufacturer of aerospace and defense products and the world’s third largest landing gear manufacturer. The acquisition subsequently closed in February 2025. On the sell-side, Platinum Equity closed out 2024 year with an agreement to divest Toronto-based Livingston International to Purolator in a transaction that closed in February 2025. Platinum Equity said it will continue seeking opportunities to expand its portfolio of Canadian investments.

Platinum Equity Exits Yak Access, Hunterstown Power

Platinum Equity exited its investment in Yak Access in a $1.1 billion sale to strategic buyer United Rentals. Yak Access provides hardwood, softwood and composite mats for surface protection across both construction and maintenance. Platinum Equity also sold the Hunterstown power generation facility and related assets to a strategic buyer in July.

Platinum Equity Makes Foray Into India

In August, Platinum Equity closed its first deal in India with the acquisition of a majority stake in Inventia Healthcare. The Mumbai-based pharmaceuticals company’s main business is generic drugs. Inventia serves a variety of geographies, including the U.S., the U.K., and Latin America. Platinum Equity said it’s increasingly focused on India as the buyout market there continues to evolve, and more opportunities become available that fit the firm’s operations-intensive approach.

Platinum Equity Small Cap Team Makes Multiple Investments

In February, Platinum Equity’s Small Cap team invested in TAK Communications, a national provider of communications and broadband infrastructure services. TAK’s existing shareholder and management remained with the business to partner with Platinum Equity on the transaction. In July, the Small Cap team invested in a majority stake in Motors & Armatures, Inc. (MARS), a distributor of HVAC/R parts, supplies and equipment in the U.S. and Canada.

Platinum Equity Credit Strategy Delivers Lending, Financing, Credit Solutions

In June, Platinum Equity’s credit team provided a first-lien term loan to Westphal Technik, a vertically integrated manufacturer of injection molded plastic components that serves the healthcare and consumer packaged goods end markets. In October, the firm announced a new and upsized second-lien term loan for Railway Equipment Leasing and Maintenance Inc., and in December the credit team led acquisition financing for Branding Iron Holdings in connection with Kingswood Capital Management’s purchase of the company. Branding Iron provides branded and private label protein products.

Tom Gores-Backed New Center Development Receives Detroit OK

The Detroit City Council approved the $3 billion mixed-used development project to transform the New Center neighborhood.  Gores will build housing, greenspace, walkable areas and attract retail partners as part of the project, which is expected to begin in 2025.

Gores, Platinum Equity Continue Support for JRLA Scholars

Tom Gores and Platinum Equity continued their support for the Jalen Rose Leadership Academy, a public charter high school founded by former NBA player and media personality, Jalen Rose. In the summer, the Detroit Golf Club hosted the school’s 14th charity celebrity golf outing, which was sponsored by Gores and Platinum Equity.

Platinum Equity Portfolio Companies Continue Charitable Work

Among many charitable efforts, multiple portfolio companies rushed to help residents in the southeastern U.S. after Hurricanes Milton and Helene devastated communities. Diversey, a Solenis company, awarded 18 scholarships valued at $1,000 each for infection prevention professionals to attend the APIC 2024 Annual Conference and Exposition in June in San Antonio. In April, Club Car hosted its annual Club Car Championship tournament, which raised $450,000 for charities in Savannah, Ga. US LBM Foundation raised more than $2.75 million for a variety of charities from its eighth annual golf outing.

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