Author: Joanne Houchell

TowerBrook has received a score of 100 on the Human Rights Campaign Foundation’s (HRCF) 2025 Corporate Equality Index, the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. TowerBrook joins the 765 U.S. businesses that will be honored with HRCF’s Equality 100 Award as Leaders in LGBTQ+ Workplace Inclusion. This year’s CEI includes 1,449 businesses – the highest number of rated companies since the start of the CEI in 2002.

Abrielle Rosenthal, Managing Director and Chief Sustainability Officer for TowerBrook said, “This score reflects our continuing efforts to further inclusive workplace policies and practices. We champion a working environment where every individual is represented, respected and able to thrive.”

The results of the 2025 CEI showcase how U.S.-based companies are promoting LGBTQ+ friendly workplace policies in the U.S. and abroad. The first year of the CEI included 319 participants, and the 2025 CEI now surveys 1,449 participants, further demonstrating the tremendous growth of the CEI. A record-breaking 98 percent of CEI businesses have non-discrimination protections specific to gender identity.

The CEI rates companies on detailed criteria falling under four central pillars:

• Non-discrimination policies across business entities;
• Equitable benefits for LGBTQ+ workers and their families;
• Supporting an inclusive culture; and,
• Corporate social responsibility.

The full report is available online at www.hrc.org/cei.

LONDON –  July 3, 2024 – TowerBrook Capital Partners L.P. (“TowerBrook”), the London and New York-based international investment firm, today announced a majority equity investment in AQUAchiara (“the Company”), a French provider of micro-filtered water dispenser solutions for hotels, restaurants, and corporate clients.

Founded in 2007 and headquartered in Paris, France, AQUAchiara provides micro-filtered water dispenser solutions for its clients. The company installs, rents, and maintains a diverse range of water dispensers, complemented by services such as CO₂ recharge and co-branded bottles, offering fresh sparkling water. AQUAchiara’s mission is to refine locally sourced tap water into fresh, sparkling, high-quality water through advanced microfiltration technology. Committed to environmental sustainability, the company aims to eliminate plastic waste and reduce carbon footprint with a zero kilometre, zero plastic, and zero waste solution. AQUAchiara aims to offer an eco-friendly alternative, reducing reliance on bottled water and avoiding considerable CO₂ emissions from production and transportation, thereby promoting responsible consumption and preserving natural resources.

AQUAchiara is the fourth investment, and the first in Continental Europe, for TowerBrook Delta, the firm’s dedicated impact strategy launched in 2023. In line with the firm’s longstanding TowerBrook Responsible Ownership^TM principles, TowerBrook Delta invests in businesses designed to generate a specific and measurable social or environmental impact, and to directly contribute to advancing the UN Sustainable Development Goals, while seeking to deliver market returns.

Nicolas Weyl, Founder of AQUAchiara -VH20 sas -, said “I am extremely proud of everything AQUAchiara has achieved over the past seventeen years and am looking forward to working alongside TowerBrook as we enter this next stage of growth. We are thrilled to be working with a partner that shares our passion for responsible business practices and supports our commitment to delivering quality products and services without compromising our sustainability goals”.

“We are delighted to partner with AQUAchiara’s founder, Nicolas Weyl, and its management team as they continue their efforts to build AQUAchiara into a sustainable water solutions provider, both organically and through strategic acquisitions” said Tom Redpath, Delta Europe lead at TowerBrook. “We look forward to supporting the company’s ambitious growth journey and the continued development of its business model, and are thrilled to be partnering with TowerBrook Senior Advisor, Laurence Paganini, joining as Chair, and Nicolas Potier, CEO of Bruneau, joining as a NED.”

McLean, VA (July 5, 2023) — Today Mars, Incorporated, a family-owned, global leader in confectionery, food, and pet care products and services, announced that it has signed an agreement to acquire Kevin’s Natural Foods, a high-growth, nutritious meal company, to join its leading brands in the Mars Food & Nutrition segment.

Kevin’s makes chef-inspired sous-vide meals, sides, and sauces. Using whole foods and simple ingredients, it meets the needs of today’s busy consumers by helping them eat healthier food within minutes, without sacrificing on bold world flavors. Kevin’s has enjoyed double-digit growth since it was founded in 2019 and is now available across 17,000+ retail locations, from grocery stores and supermarkets, through to digital commerce. Kevin’s Natural Foods will operate as a standalone business within Mars Food & Nutrition, reporting to its President, Shaid Shah.

Kevin’s Natural Foods will play a key role in Mars Food & Nutrition’s ongoing journey to enable delicious, healthier eating to be part of consumers’ daily lives. Kevin’s products will complement Mars Food & Nutrition’s core portfolio and recent product innovations.

Shaid Shah, Global President, Mars Food & Nutrition said: “We are excited to welcome Kevin’s Natural Foods to the Mars Food & Nutrition family of businesses. We have been hugely inspired by Kevin’s, a business whose mission fits squarely with our purpose: Better Food Today. A Better World Tomorrow. Kevin’s products are of a very high quality, nutritious, and convenient, without compromising on flavor, and are enjoyed by an engaged and loyal customer base across North America. The Kevin’s Natural Foods team has delivered impressive growth since it was founded four years ago, and we look forward to drawing on our experience of nurturing and scaling founder-led brands to help bring their products to even more people.”

Co-founded by Dan Costa, Kelsie Costa-Olson, and Kevin McCray, Kevin’s Natural Foods was born out of Kevin’s desire to be healthier himself, as well as to help other people eat well. Founded in 2019, the company is headquartered in Modesto, California, and has approximately 180 employees, with products currently sold in the U.S., U.K., Canada and Mexico.

Kevin McCray, President and Co-Founder of Kevin’s Natural Foods, stated: “Mars Food & Nutrition shares our vision and passion for the role food plays in people’s lives. We founded Kevin’s with the mission to empower even the busiest people to eat nutritious, great tasting meals in minutes. Joining the Mars Food & Nutrition portfolio of brands will allow us to accelerate the development of more product innovations and support our mission of bringing Kevin’s to more consumers across markets.”

“As a standalone business within Mars Food & Nutrition, we’ll be able to maintain the entrepreneurial spirit and authenticity of our brand while getting the support and capabilities to continue our long-term growth journey. It’s a tremendous milestone for Kevin’s Natural Foods and our team, and we’re excited for what’s ahead,” Dan Costa, CEO and Co-Founder of Kevin’s, added.

This acquisition includes an exit of Kevin’s minority partners, TowerBrook Capital Partners L.P., an international investment management firm, and NewRoad Capital Partners.

The transaction is subject to customary regulatory approvals and expected to close in the third quarter of 2023. The terms of the transaction were not disclosed.

LONDON (09 January 2023) – Précis Capital Partners (“Précis Capital”), the real estate development lending platform, and global real estate investor QuadReal Property Group (“QuadReal”) announce today that QuadReal has acquired an interest in Précis Capital and will commit up to £1 billion to deploy into its development loans. TowerBrook, Précis Capital’s founding institutional shareholder, retains a significant shareholding. Précis Capital is concurrently rebranding as Precede Capital Partners (“Precede Capital”).

Since its launch in March 2021, Precede Capital (then Précis Capital) has originated and arranged loans totalling £1.5 billion to finance the construction of residential properties in the UK. This new partnership with QuadReal will further enhance the opportunity to provide whole loan financing solutions. With the new investment, Precede Capital expects to arrange an additional £3 billion+ of loans through capital structuring via syndication and leverage.

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total CAN$67.1 billion, of which CAN$10 billion are real estate debt assets. The team seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves, closely aligning with Precede Capital and TowerBrook’s focus on responsible investment and their respective ESG strategies. QuadReal’s discerning approach to funding structures and development risk and its experience – including the management and development of over 60,000 residential suites globally – complement Precede Capital’s growth ambitions.

Randeesh Sandhu, CEO and co-founder of Precede Capital, said: “We are delighted to partner with QuadReal as we enter the next stage of our evolution as a reliable financing partner to high-calibre borrowers. Our specialist team has built a reputation for successfully structuring large and complex financial solutions, and this partnership with a leading global institution is a strong endorsement of our track record. We look forward to working closely with QuadReal as we continue to back sponsors and developers delivering best-in-class living assets.”

Jay Kwan, Managing Director, Head of Europe for QuadReal, said: “The living sector is one of the key pillars within our global areas of conviction. Partnering with the deep bench of seasoned professionals at Precede Capital in this area, at this time, is a natural extension of both investment priorities and advancing our real estate credit business to the UK from within North America. Working closely with the TowerBrook team and its best-in-class fiduciaries only enhances what this group of professionals can offer and achieve.” 

Joseph Knoll, Managing Director at TowerBrook, said: “Since its launch, Precede Capital has established itself as a significant provider of development lending in the UK. The new partnership with QuadReal and its extensive experience as a real estate manager and credit provider will accelerate that journey. We are excited about partnering with QuadReal and the new growth opportunities it will open for the Precede platform.”

Precede Capital was advised on the transaction by Greenburg Traurig and JLL Corporate Finance. QuadReal was advised by K&E, Deloitte and Mourant Ozannes. TowerBrook was advised by Goodwin Proctor and PwC.

Leading global general partners (GPs) and limited partners (LPs) today announced the creation of the ESG Data Convergence Project to advance an initial standardized set of ESG metrics and mechanism for comparative reporting.

The California Public Employees’ Retirement System (CalPERS) and global investment firm Carlyle (NASDAQ: CG) led the collaboration which includes GPs and LPs representing more than $4 trillion in AUM. The group includes LPs: AlpInvest Partners, APG, CalPERS, CPP Investments, Employees’ Retirement System of Rhode Island, PGGM, PSP Investments, The Pictet Group, Wellcome Trust; and GPs: Blackstone, Bridgepoint Group Plc, Carlyle, CVC, EQT AB, Permira, and TowerBrook Capital Partners LP.

The group’s objective is to streamline the private equity industry’s historically fragmented approach to collecting and reporting ESG data in order to create a critical mass of material, performance-based, comparable ESG data from portfolio companies. This will allow GPs and portfolio companies to benchmark their current position and accelerate progress toward ESG improvements, which the group believes drives better financial outcomes. This will also enable greater transparency and provide more comparable portfolio information for LPs.

GPs will track and report six metrics from their underlying portfolio companies, beginning with calendar year 2021. The data will be shared directly with invested LPs by GPs and aggregated into an anonymized benchmark by Boston Consulting Group (BCG) for this first cycle. The initial six metrics are: Scopes 1 and 2 greenhouse gas emissions, renewable energy, board diversity, work-related injuries, net new hires, and employee engagement.

The group plans to meet annually to assess the prior year’s data, and to refine and build on these initial metrics, prioritizing materiality. This collaboration is intended to be a long-term mechanism to increase the quality, availability, and comparability of ESG data in private markets.

Marcie Frost, CalPERS CEO, said, “Sustainability is a cornerstone of the CalPERS investment program. And yet, we have found it challenging to effectively measure impact in our private equity portfolio because of the multitude of frameworks and definitions used by GPs and LPs. This initiative simplifies sustainability reporting by using comparable metrics which allow us to gain insight into the investment risks and opportunities in our private markets portfolio. Managing these risks and opportunities is essential to fulfilling our fiduciary duty to provide retirement security to our 2 million members. Collaboration between the GP and LP community is the foundation, and we look forward to building out this important work.”

Peter Branner, Chief Investment Officer at APG Asset Management, said, “On behalf of clients, APG has long been driving ESG transparency in private equity as a way to secure accountability for responsible investment performance in the asset class. Through this collaboration, we expect to push towards comparable ESG performance measurement and wider adoption of ESG as an integrated objective of PE investments. APG will use the metrics in its engagement with managers. While APG’s ambition goes beyond the six metrics identified by the ESG Data Convergence Project, we are excited by the momentum generated, with data collection by PE managers already underway.“

Eric-Jan Vink, Head of Private Equity at PGGM, said, “Since 2020, PGGM has actively collected portfolio company GHG emissions data, enabling us to report Scope 1 emissions data on 27% of the companies in our private equity portfolio. By supporting the ESG Data Convergence Project, we are committed to achieving full ESG transparency. The current set of six metrics is a great starting point, and we expect more as the field develops. In Europe, we see that additional ESG disclosures are required under the Sustainable Finance Disclosure Regulation already. PGGM, as a member of the ESG Metrics Steering Group, will play a role in driving the private equity market towards making more and better ESG disclosures.”

Steve Nelson, ILPA CEO, said, “ESG has become a core consideration for many LPs when evaluating private market commitments both because of the need to align organizational priorities and from an investment resiliency and return perspective, but to date LPs have lacked a standard set of metrics for assessing their ESG objectives. ILPA believes such convergence is a necessary ingredient for industry-wide progress and supports initiatives aimed at streamlining existing frameworks that are fit-for-purpose and flexible enough to adapt as the market and investor needs evolve. In service of these objectives, we are proud to include these resources as a part of our ESG Roadmap, which is comprised of a variety of helpful ESG-related resources for the private equity industry.”

The partnership is open to any GPs and LPs that wish to join and agree to support the principles of the work. The effort encourages private equity industry stakeholders to work together to gather better, decision-useful ESG data in order to generate deeper insight into ESG factors and their relationship to financial outcomes, and, ultimately, to drive greater progress on critical ESG issues.

TB SA Acquisition Corp (the “Company”), a newly incorporated blank check company formed as a Cayman Islands exempted company and established for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The Company is sponsored by TCP SA, LLC, a Cayman Islands limited liability company affiliated with TowerBrook Capital Partners L.P. The Company intends to identify a potential initial business combination target with a focus on African companies that promote Environmental, Social and Governance (“ESG”) principles. The units are expected to be listed on The Nasdaq Capital Market (the “NASDAQ”) and trade under the ticker symbol “TBSAU” beginning March 23, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant may be exercised for one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NASDAQ under the symbols “TBSA” and “TBSAW,” respectively.

The offering is expected to close on March 25, 2021, subject to customary closing conditions.

Deutsche Bank Securities Inc. is acting as underwriter for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

When available, copies of the prospectus may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005, by telephone at 800-503-4611 or by e-mail prospectus.cpdg@db.com.

A registration statement relating to the securities became effective by the Securities and Exchange Commission (“SEC”) on March 22, 2021. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering, the anticipated use of the net proceeds and potential initial business combination targets. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the Company’s offering filed with the SEC and the preliminary prospectus included therein. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Click here to view the company’s announcement.

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Regent Surgical Health (Regent), a developer, owner and manager of ambulatory surgery centers (ASCs), announced today the completion of a strategic investment from TowerBrook Capital Partners L.P. (TowerBrook), an international investment management firm, and Ascension Capital, an investment affiliate of Ascension, providing additional capital for future growth.

In conjunction with the transaction, Ascension, the nation’s largest non-profit and Catholic health system, has selected Regent as its exclusive national partner for ambulatory surgery center development. Through this partnership, Regent and Ascension will develop or acquire and operate ambulatory surgery centers across the communities Ascension serves, providing patients with convenient access to high-quality outpatient surgical services.

“This partnership with Regent will allow us to expand our ambulatory surgery center footprint and create even greater access to quality care in the markets we’re privileged to serve,” said Craig Cordola, Executive Vice President and Chief Operating Officer for Ascension. “We believe the convenience and exceptional patient and physician experience will make a difference in our communities.”

Regent, headquartered in Chicago and Nashville, Tennessee, has developed, owned and managed ASC facilities in partnership with hospitals and physicians since 2001, and has grown to become the nation’s largest independent health system joint venture-focused ASC operator. Regent currently owns or operates ASCs across the United States and has successfully pursued a strategy focused on the development of several multisite health system partnerships.

Regent will use the capital investment from TowerBrook and Ascension Capital to further grow its management team as well as enhance its operational and technology capabilities to support both existing and new health system and physician partners. In addition, TowerBrook and Ascension Capital have committed significant incremental growth capital to support Regent’s role in assisting its health system partners in modernizing their surgical systems through both ASC acquisition and new developments.

“We are incredibly excited to partner with TowerBrook and Ascension, who collectively bring a depth of investment expertise, system relationships and clinical excellence, to build on our existing capabilities and to launch our next phase of growth,” said Chris Bishop, Chief Executive Officer of Regent Surgical Health. “As technology-driven innovations have facilitated a migration of many routine surgical procedures into outpatient and ambulatory settings, our vision is to become the ASC management partner of choice to the nation’s leading health systems, enabling them to provide seamless and superior care to the patients they serve.”

“We look forward to partnering with the Regent management team to continue to invest in its platform capabilities and accelerate the company’s growth as well as pursue transformative acquisitions in an attractive, growing and critically important segment of the healthcare market,” said Evan Goldman, Managing Director at TowerBrook.

“We see enormous opportunities in the ASC market for Ascension as well as so many other health systems, and are thrilled to invest in and partner with an organization that shares Ascension’s values and commitment to excellence,” said Tony Speranzo, President and CEO of Ascension Capital. “We have a longstanding relationship with Ascension,” added Ian Sacks, Managing Director at TowerBrook, “and we are eager to once again work together to continue to build the best-in-class, independent ASC partner for health systems and physicians across the country.”

Development lending platform Précis Capital Partners (“Précis Capital”) today announces its launch, with the backing of international investment management firm TowerBrook Capital Partners (“TowerBrook”). Précis Capital will deliver effective financing solutions to real estate developers for projects across the UK, predominantly for residential and other living asset classes. The new platform will originate, underwrite and manage Whole Loans of £50m+ to finance the construction of residential for sale, Build to Rent, retirement living communities, co-living spaces, student accommodation and other residential assets, with a view to providing up to £1bn of development financing a year.

Précis Capital is led by its three co-founders Randeesh and Daljit Sandhu, who each have nearly two decades of experience in real estate finance, and Karen Dunstan, an experienced real estate finance lawyer who will act as General Counsel. Randeesh and Daljit pioneered the non-bank lending sector’s emergence as a vital source of capital for the UK real estate industry following the 2008 financial crisis. As co-founders of real estate financier and asset manager Urban Exposure Plc, they extended approximately £2bn of development financing from 2010 onwards. Karen previously served as General Counsel of Urban Exposure, after starting her career as a lawyer at King & Wood Mallesons, Herbert Smith LLP and Charles Russell Speechlys.

The wider Précis Capital team comprises real estate finance, private equity and banking professionals, including Frank Strauss as Chairman and Susan Geddes as Director and Credit Committee Chair. Frank is a seasoned financial services executive with 30 years’ experience and was formerly Global CEO, Private and Commercial Banking on Deutsche Bank AG’s Management Board. Susan was formerly Managing Director, Structured Real Estate Finance at Santander UK Corporate Banking and Managing Director, Head of Structured Finance with Alvarium RE and spent 19 years at Bank of Scotland, latterly as Head of Real Estate Finance.

In alignment with TowerBrook’s industry-leading B Corp certification as an investment manager committed to responsible business practices, Précis Capital will seek to integrate sustainability and social impact into its product and service offering. The new lending platform will actively measure the Social Value impact of the projects it finances. Alongside traditional development finance products, it will offer loans tailored for sustainable building practices by developing Green Finance products – aligning loan terms to the achievement of pre-determined sustainability performance targets.

“A chronic funding shortfall has been among the biggest contributory factors to the structural imbalance within the UK housing market we are seeing today,” said Randeesh Sandhu, co-founder and Chief Executive Officer at Précis Capital. “Increased volumes and more efficient delivery of private development financing are a fundamental prerequisite for bridging the gap between the longstanding and fast-growing demand for housing in the UK and the supply currently delivered by homebuilders. We are extremely excited to be drawing on our experience and partnering with TowerBrook, with their proven history of backing specialist financing platforms such as Hayfin Capital Management and Ladder Capital, to meet this challenge and address the market need.”

“There is a significant opportunity for a new purpose-led approach to lending in the current market. 2021 is a pivotal moment for the UK’s construction industry and we aim to help the industry transition towards Net-Zero targets with sustainable build standards, adopt technology and embrace Modern Methods of Construction. We want to support the economic recovery, the government’s Green Agenda and the ‘levelling up’ policy programme,” said Daljit Sandhu, co-founder and Chief Operating Officer at Précis Capital. “We have assembled a team that has experience of working at, or alongside, many of the UK’s most respected developers and investors, as well as an extensive track record of successfully structuring large and complex real estate debt transactions. Whilst we will not let up on the speed, flexibility and certainty required from a trusted lending partner, we also hope to pioneer new products and practices with and for our clients.”