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The Carlyle Group Inc. reports developments as a global investment firm that deploys private capital through Global Private Equity, Global Credit, and Carlyle AlpInvest. Company news commonly covers financial results, fee-related earnings, fundraising, inflows, distributable earnings, shareholder updates, capital allocation, and share repurchase activity.
Carlyle updates also include partnerships that broaden private-market access for wealth and retirement channels, activity involving private equity, credit, real estate, and infrastructure strategies, and financing or transaction developments tied to its investment platform and portfolio companies.
AlphaStruxure has secured a contract to design and operate a microgrid for the New Terminal One (NTO) at JFK Airport, enabling significant decarbonization efforts. This 11.34 megawatt microgrid will feature the largest rooftop solar array on any U.S. airport terminal, consisting of over 13,000 solar panels, generating enough electricity to power approximately 3,570 homes annually. The project will reduce greenhouse gas emissions by 38% compared to traditional energy sources. Expected to create over 10,000 jobs, the terminal aims for completion by 2030 and is projected to set new standards in energy resilience and sustainability.
Pathalys Pharma has successfully raised $150 million through secured product financing and equity to support its phase 3 clinical trials for upacicalcet, designed for treating secondary hyperparathyroidism in dialysis patients. The financing was led by Abingworth with participation from Carlyle and OrbiMed. This funding will ensure Pathalys can proceed with pivotal studies and pre-commercialization activities. The partnership with Launch Therapeutics aims to leverage their clinical expertise, as they take lead roles in clinical trials while Pathalys manages manufacturing and regulatory interactions.
Involta has announced the promotion of Carl Gordulic to Chief Financial Officer, effective January 17, 2023. Gordulic, a seasoned finance professional with over 25 years of experience, played a vital role in facilitating Involta's acquisition by Carlyle (NASDAQ: CG) in 2022. This leadership change aims to enhance Involta's growth strategy and manage the funds resulting from the Carlyle investment. Gordulic, who has held various positions within Involta for the past 15 years, is expected to drive the company's expansion in 2023 and beyond.
Vertical Capital Income Fund (NYSE: VCIF) announced a transaction agreement with Carlyle (NASDAQ: CG) to appoint Carlyle Global Credit Investment Management as its new investment adviser, pending shareholder approval. This shift aims to enhance value by focusing on collateralized loan obligations (CLOs). Carlyle will make a one-time payment of $10 million to shareholders and commit $50 million in equity investments. The Board unanimously supports this move, believing it aligns with strategic goals for maximizing shareholder returns. The transaction is expected to close in H1 2023, subject to necessary approvals.
Jagex, the publisher of RuneScape, has acquired Gamepires, an independent game studio known for the survival game SCUM, which has sold over 3 million copies since its 2018 launch. This acquisition aims to leverage Jagex's expertise and community-driven approach to enhance SCUM's future multi-platform release. With the backing of Jagex, Gamepires seeks to elevate SCUM to a leading open world title. The financial terms of the acquisition remain undisclosed.
Veritas Capital has successfully acquired Sequa Corporation, the parent company of Chromalloy, from Carlyle, marking a strategic move in the aerospace sector. Chromalloy is renowned for its aftermarket services for aircraft engines and gas turbines, boasting over 70 years of expertise. This partnership aims to leverage Veritas's experience in both commercial and military aerospace markets to enhance Chromalloy's growth and expand its proprietary LifeX® solutions. The deal reflects a commitment to continued investment in critical engine technology globally.
NineDot Energy has secured an $85 million construction-to-term debt facility funded by CIT and SMBC to enhance eleven battery storage sites in the New York City metro area. This financing bolsters NineDot's position as a community energy developer, aiding the local grid and supporting New York's decarbonization efforts. The funding will accelerate the development of local battery storage solutions, improving energy reliability and transitioning away from outdated peaker plants. This milestone is noted as a significant achievement for the company.
CIT, a division of First Citizens Bank, has announced its role as co-coordinating lead arranger for an $85 million construction-to-term debt financing for NineDot Energy. The funds will support the development of 11 battery storage projects in the NYC metro area, aimed at enhancing grid resiliency and supporting renewable energy. NineDot Energy is backed by Carlyle Group (NASDAQ: CG) and will implement projects across the Bronx, Staten Island, Queens, and Long Island, totaling 43 MW in capacity.
Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group announced agreements to combine Paradigm Precision, a provider of machining and fabrications for engine manufacturers, with Whitcraft Group, a manufacturer of aerospace components. This merger aims to create a diversified supplier in the aerospace industry. Both companies will enhance capabilities to better serve OEM customers globally. The transactions are expected to close in early 2023, pending customary conditions. Financial terms of the deal were not disclosed.
CNSI and Kepro have announced a merger to create a leading healthcare solutions company, aimed at enhancing health outcomes through technology and clinical expertise. The combined entity will focus on improving healthcare access, quality, and efficiency for government-sponsored healthcare agencies. Todd Stottlemyer of CNSI will lead the new organization, while Susan Weaver of Kepro will serve as President. The merger, expected to close in December 2022, is backed by Carlyle (NASDAQ: CG), with both companies maintaining their operational headquarters.