Carlyle to buy 51% of PA Consulting

The Carlyle Group has agreed to buy a 51 percent stake in PA Consulting Group. The deal values PA at $1 billion. London-based PA is a consulting, technology and innovation firm. PRESS RELEASE LONDON, Sept. 29, 2015 /PRNewswire/ — PA Consulting Group (PA), a consulting, technology and innovation firm and global alternative asset manager The Carlyle Group (NASDAQ: CG), today announced that they have signed an agreement for Carlyle to invest in PA for a 51 percent shareholding of the company. The investment values PA at $1Billion and is expected to close in December 2015, subject to regulatory and pension approvals and a shareholder vote scheduled for November 2015. PA is a leading consulting, technology and innovation firm that has made the difference for businesses, governments and communities worldwide since 1943. PA has produced impressive results before and since the financial crisis and is successfully delivering on an ambitious growth strategy across Europe, the Americas and the Middle East. The partnership with Carlyle will enable PA to build on this success and to accelerate its growth plan through geographic expansion and the acquisition of consultant teams and smaller firms. Importantly, the investment will allow PA to retain independence, alongside current culture, brand and values. The continued share ownership by PA employees is a key feature of the transaction. Capital for this investment will come from Carlyle Europe Partners IV (CEP IV), a European upper-mid market buyout fund. CEP IV has made four other investments in European companies as of September 1, 2015. Alan Middleton, CEO of PA Consulting, said, “PA has made the difference for our clients and communities worldwide for over 70 years. Carlyle’s global reach, business connections and M&A experience will support a step-change in our rate of growth and allow us to continue to maintain our independence and track record for high quality innovation and delivery for our clients.” Marcus Agius, Non-Executive Chairman of PA, commented, “Carlyle have an established reputation for building value through developing the investments they make and our discussions have born fruit because the PA team have recognized a cultural affinity between the two groups. Both of us recognize the value of partnership and, in particular, the sharing of value created.” Eric Kump, Managing Director of Carlyle Europe Partners, said, “PA is at the inflection point of a new growth phase, and we are excited to support the leadership’s ambitious plans.” Alex Stirling, Director of Carlyle Europe Partners, “The consulting sector is going through an exciting phase of development. We have long admired PA’s renowned reputation for delivering exceptional results to clients in both public and private sectors, and for scaling world class innovation from its Technology Center in Cambridge. We are delighted Alan and the team have agreed to partner with us and are excited about our future together as we look to grow the business globally.” About PA Consulting Group PA is an employee-owned firm of over 2,500 people, operating globally from offices across North America, Europe, the Nordics, the Gulf and Asia Pacific. Our specific expertise is in energy and utilities, financial services, health, life sciences, consumer and manufacturing, government, defense and security, transport and logistics. Our deep industry knowledge together with skills in management consulting, technology and innovation allows us to challenge conventional thinking and deliver exceptional results with lasting impact. www.paconsulting.com PA Make the Difference case studies http://www.paconsulting.com/case-studies/makingthedifference/ About The Carlyle Group The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds and 159 fund of funds vehicles as of June 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents. Web: www.carlyle.com Videos: http://www.carlyle.com/news-room/corporate-videos_new Tweets: www.twitter.com/onecarlyle Podcasts: www.carlyle.com/about-carlyle/market-commentary

Here is the original post:
Carlyle to buy 51% of PA Consulting

KSL Capital Fund IV raises $2.68 bln

KSL Capital Partners LLC said Monday that its latest private equity fund closed with about $2.68 billion in commitments. KSL Capital Partners IV LP took less than a year to raise and surpassed the fund’s target of $2.25 billion. KSL IV will focus on investing exclusively in the travel and leisure sector globally, the firm said. PRESS RELEASE DENVER–(BUSINESS WIRE)–KSL Capital Partners, LLC (“KSL”) announces that it has completed the final closing of its latest travel and leisure focused private equity fund, KSL Capital Partners IV, L.P. (“KSL IV” or the “Fund”), with total commitments of $2.677 billion, including the commitment of the General Partner. Fund IV took less than a year to raise, with demand from both existing and new investors significantly surpassing the Fund’s original target amount of $2.25 billion. Investors in KSL IV include a diverse group of state pension funds, corporate pension funds, sovereign wealth funds, endowments, foundations, insurance companies and family offices. “Similar to our prior private equity and credit funds, KSL IV will target investments exclusively in the travel and leisure sector globally,” said Eric Resnick, CEO of KSL Capital Partners. “KSL IV garnered significant interest from our existing investor base and accepted commitments from a select group of new investors. We are grateful for the support shown by all of our limited partners.” KSL was founded by Eric Resnick and firm Chairman Mike Shannon in 2005. Since the firm’s inception, KSL has raised in excess of $7 billion in equity and debt commitments. In addition to the founding partners, KSL’s investment committee members include Coley Brenan, John Ege, Craig Henrich, Peter McDermott, Martin Newburger, Dan Rohan, Bernard Siegel, Steven Siegel, Bryan Traficanti and Richard Weissmann. ABOUT KSL CAPITAL PARTNERS, LLC KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; London, England; and Stamford, Connecticut. In the United States, KSL’s current portfolio includes the Miraval Group, the owner and operator of luxury spa and wellness properties, and the St. Regis Monarch Beach located in Dana Point, California. KSL’s recreation businesses include WellBiz, a health and wellness franchise organization, and Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America. KSL is also the largest shareholder in ClubCorp Holdings, Inc. (NYSE: MYCC), one of the world’s largest owners of private golf and business clubs, and Whistler Blackcomb Holdings Inc. (TSE: WB), the most visited ski area in North America. In the United Kingdom, KSL’s current portfolio includes The Belfry outside Birmingham and Village Urban Resorts, which owns and operates a portfolio of 28 hotels throughout the United Kingdom. For additional information, please see www.kslcapital.com.

Follow this link:
KSL Capital Fund IV raises $2.68 bln

Hudson forms partnership with Sky Solar on solar projects venture

Renewable energy-focused private equity firm Hudson Clean Energy Partners has formed a partnership with Sky Solar Holdings, an owner and operator of solar parks. According to terms of the agreement, Hudson will invest up to $100 million to fund solar projects in Latin America and Japan. PRESS RELEASE HONG KONG, Sep 21, 2015 (GLOBE NEWSWIRE via COMTEX) –Sky Solar Holdings, Ltd. (“Sky Solar” or the “Company”), a global developer, owner and operator of solar parks, and Hudson Clean Energy Partners (“Hudson”), a leading private equity firm specializing in renewable energy, today announced a new strategic partnership to fund solar projects in Latin America and Japan with a total capital commitment from Hudson of up to $100 million. The two parties have also agreed to collaborate on an expansion into the U.S. solar market. As part of this partnership, Hudson will invest $50 million in the construction of approximately 128 megawatts of solar projects in Chile and Uruguay, and will receive a 49 percent minority equity stake in the projects upon their completion. Hudson has allocated an additional $50 million for secondary market opportunities in Japan, subject to due diligence and other necessary approvals. Beyond this capital commitment, both parties have agreed in principle to collaborate on identifying and acquiring suitable renewable assets in the United States. “We are delighted to be working with a leading specialized private equity and infrastructure fund to develop shovel-ready projects in our key markets,” said Sanjay Shrestha, chief investment officer of Sky Solar and president of Sky Capital Americas. “In addition to the near-term capital investment, we believe Sky Solar will benefit from Hudson’s long tenure as an investor in the renewable energy sector and unmatched industry experience in this strategic partnership.” “We are excited about our partnership with Sky Solar, a company with deep power development expertise and substantial global reach,” said Neil Z. Auerbach, founder and managing partner of Hudson. “They have developed a portfolio of high-quality solar projects in attractive markets such as Chile, Uruguay and Japan.” About Sky Solar Holdings, Ltd. Sky Solar is a global independent power producer (“IPP”) that develops, owns and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. The Company’s broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements. As of June 30, 2015, the Company has developed 237 solar parks with an aggregate capacity of 215.0 MW and owned and operated 93.2 MW of solar parks. About Hudson Clean Energy Partners Hudson Clean Energy is a private equity and infrastructure firm dedicated exclusively to investing in renewable power and clean energy. The New Jersey-based firm was founded in 2007, and makes privately negotiated investments in infrastructure platforms, focused on the development, construction and operation of power plants, direct investments in power projects, as well as investments in the high-growth, asset-based, capital intensive segments of value chain companies that have manufacturing or servicing business. Hudson’s investment expertise spans across a variety of subsectors within the renewable energy industry including, solar and wind energy, biofuels, biomass, geothermal energy, energy efficiency and storage.

See the rest here:
Hudson forms partnership with Sky Solar on solar projects venture