KKR has agreed to invest up to $310m in a strategic partnership with Indian electric commercial vehicles specialist PMI Electro Mobility Solutions. The deal will support scaling PMI’s electric bus platform Allfleet. KKR will pick up a majority stake in Allfleet and minority stake in PMI. The deal marks KKR Global Climate Transition’s first investment in India and the strategy’s eighth investment globally. Allfleet says it is on course to deploy a fleet of more than 5,000 e-buses, operating under long-term concession and service agreements with multiple state transport authorities. Neil Arora, head of KKR’s Climate Transition strategy for Asia Pacific, said, “Transport electrification is a critical pillar of the energy transition, and India – with its scale, urbanization trends, and decarbonization ambitions – represents one of the most significant opportunities for the sector globally.”
Warburg Pincus has made a majority investment in TheGuarantors, a specialist in residential lease guarantee solutions and AI-powered underwriting for the rental housing market. The company said it planned to accelerate platform expansion, advance data and AI capabilities, and deepen partnerships with property owners and managers across the US. The platform currently supports a footprint of more than 3.5 million rental units across many of the largest institutional property management companies in the US, and has protected more than $6bn in lease value. Jeff Stein, head of US financial services at Warburg Pincus, said, “TheGuarantors has built the category-defining platform in residential lease guarantees. The company’s combination of proprietary data, AI-driven underwriting, and deep integrations with leading property managers creates a powerful value proposition for both tenants and landlords.”
Nautic Partners has sold property management and real estate firm AKAM to Audax Private Equity. The company primarily serving condominiums and cooperatives, as well as single-family homeowner associations. The deal comes six years after Nautic bought into the business. Nautic principal Johannes Essl said, “In partnership with AKAM’s leadership team, we are proud of the value we drove through strategic acquisitions, investments in technology and infrastructure, and operational enhancements that expanded its ability to serve clients and residents.”
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