Newsletter Edition 61
Mar 13, 2025
📅 Get Your Tickets: Kapnative Summit 2025
We are delighted to announce the next Kapnative Summit, where we provide an exclusive group of investors and financial professionals valuable insights into the evolving world of private markets.
As private markets continue to play an increasingly important role in asset allocation, this event will highlight key trends, investment opportunities, and risk management strategies. The Kapnative Investment Committee, led by Christian Maria Kreuser, applies a rigorous selection process to identify top-tier investment opportunities, which will be a key focus of the discussions.
Attendees can look forward to engaging panel discussions covering asset classes such as private equity, infrastructure, and private debt, alongside in-depth market insights from leading experts. The event will also provide unique networking opportunities, allowing direct exchanges with industry professionals and thought leaders.
Our speakers will explore the benefits and challenges of private markets in portfolio construction, as well as independent evaluation and verification methods for identifying high-quality investment opportunities.
This summit is designed for wealth managers, family offices, banks, and institutional investors who are looking to expand their expertise and explore the full potential of private markets.
🎟 Reserve your spot now and be part of the discussion!
🔗 Get your free ticket here with code “Kapnative100”: https://lnkd.in/eNApSnGW
KKR-Led Consortium Nears £1.6bn Takeover of NHS Landlord Assura
A private equity consortium led by KKR and infrastructure investor Stonepeak Partners is nearing a £1.6 billion takeover of Assura, one of the UK’s largest NHS landlords, according to a report by the Financial Times. The deal marks another potential exit from the London Stock Exchange as international investors continue to target undervalued UK assets.
The consortium has submitted a non-binding offer of 49.4p per share, representing a 32% premium to Assura’s share price prior to the announcement of KKR’s interest last month. On Monday, Assura’s board said it would be “minded to recommend” the offer if it becomes formal.
Shares in Assura jumped 14% following the news, trading at 46.5p in early London trading. The company had previously rejected four proposals from KKR, including a 48p bid last month.
Initially, KKR partnered with the Universities Superannuation Scheme (USS), though USS has since exited the deal. Assura and USS had previously formed a joint venture focused on NHS infrastructure investments.
The offer surpasses an all-share merger proposal from Primary Health Properties, which had valued Assura at around 43p per share. Assura determined that the cash offer from KKR and Stonepeak was more attractive.
Assura, a FTSE 250 company, owns hundreds of GP surgeries and healthcare centres across the UK, with a property portfolio valued at £3.2bn as of September 2023.
The deal adds to a growing list of London-listed firms taken private amid perceptions of undervaluation, following recent transactions involving Darktrace, Hargreaves Lansdown, and Tritax EuroBox’s warehouse assets acquired by Brookfield and Segro.
https://ground.news/article/nhs-landlord-assura-poised-to-accept-16bn-bid-from-kkr-consortium_281c9c
Partners Group Eyes $450bn AUM by 2033 in Ambitious Growth Plan
Swiss private equity firm Partners Group has unveiled a bold long-term strategy, targeting more than $450 billion in assets under management (AUM) by 2033 — more than triple its current portfolio, according to a report by Reuters.
The firm’s projection is based on expectations that the private markets industry will more than double in size over the next decade. Partners Group forecasts that private equity will contribute over $200 billion to its AUM growth, with private credit expected to exceed $70 billion.
The outlook comes on the back of strong full-year financial results that slightly outpaced market expectations. As of January 2024, Partners Group reported AUM of $152 billion, indicating a solid trajectory for continued expansion.
The firm’s growth ambitions reflect the rising global appetite for alternative investments, including private equity, infrastructure, private credit, and real estate. Partners Group continues to focus on high-conviction, thematic investment strategies, reinforcing its position as a key player in global private markets.
https://www.privateequitywire.co.uk/partners-group-targets-over-450bn-aum-by-2033/
PE-Backed Sval Energi Acquired by DNO in $1.6bn Deal
Norwegian oil and gas company DNO ASA has agreed to acquire Sval Energi from private equity firm HitecVision in a $1.6 billion transaction, comprising a $450 million cash payment and the assumption of Sval’s debt, according to a report by Reuters.
The deal marks a significant exit for HitecVision, which built Sval Energi into a leading mid-sized producer through a series of strategic acquisitions over recent years. The sale comes as private equity firms continue to monetise traditional energy holdings, even as they increasingly pivot toward low-carbon and renewable investments.
For DNO, the acquisition represents a strategic shift back to its North Sea roots, significantly expanding its footprint in the region after decades of operations primarily in the Middle East. The deal will quadruple DNO’s North Sea output to approximately 80,000 barrels of oil equivalent per day (boepd), with total production expected to reach around 140,000 boepd on a pro-forma basis for 2024.
Shares in DNO rose nearly 7% following the announcement. However, analysts at DNB Markets noted the transaction will increase DNO’s leverage, with the acquisition financed through a mix of existing cash reserves and new debt facilities.
The acquisition highlights ongoing consolidation in the North Sea, where private equity firms such as HitecVision, Bluewater, and EIG have played a key role in aggregating mid-sized producers for eventual sale to larger strategic players.
Sval Energi’s portfolio includes 16 fields, notably a substantial stake in the ConocoPhillips-operated Ekofisk field. The assets will now form a central part of DNO’s growth strategy, with further expansion in Norway and other key markets potentially on the horizon.
https://www.offshore-technology.com/news/dno-sval-energi-acquisition/