Investment Summary

KKR, Vulcan Capital, Ontario Teachers Pension Plan and ICONIQ Capital Invest In Epic Games

On October 26, 2018, private equity firm KKR, family office Vulcan Capital, pension Ontario Teachers Pension Plan and growth capital firm ICONIQ Capital invested in digital media company Epic Games

Investment Highlights
  • This is KKR’s 6th, Vulcan Capital’s 1st, Ontario Teachers Pension Plan’s 1st and ICONIQ Capital’s 1st transaction in the Digital Media sector.
  • This is KKR’s 129th, Vulcan Capital’s 30th, Ontario Teachers Pension Plan’s 53rd and ICONIQ Capital’s 27th transaction in the United States.
  • This is KKR’s 5th, Vulcan Capital’s 3rd, Ontario Teachers Pension Plan’s 2nd and ICONIQ Capital’s 1st transaction in North Carolina.

Investment Summary

Date 2018-10-26
Target Epic Games
Sector Digital Media
Investor(s) KKR
Vulcan Capital
Ontario Teachers Pension Plan
ICONIQ Capital
Deal Type Growth Capital
Advisor(s) The Raine Group LLC
Guggenheim Securities (Financial)
Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan (Legal)

Target

Epic Games

Cary, North Carolina, United States
Epic Games is a publisher of interactive games and developer of the software platforms used for game development and high-end graphics rendering. Epic Games was founded in 1991 and is based in Cary, North Carolina.

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Investor(S) 4

Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 290 of 483
Sector (Digital Media) 6 of 8
Type (Growth Capital) 47 of 79
State (North Carolina) 5 of 7
Country (United States) 129 of 210
Year (2018) 30 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-12 Minnesota Rubber & Plastics

Minneapolis, Minnesota, United States

Minnesota Rubber & Plastics is a full-service provider of high-value rubber and plastic molded components and assembly solutions. MRP offers highly engineered elastomer and thermoplastic solutions for medical, water, industrial, and other end markets globally. Minnesota Rubber and Plastics was founded in 1945 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Quick Quack Car Wash

Roseville, California, United States

Quick Quack Car Wash is a developer, operator, and manager of express-format car wash locations. Quick Quack operates locations throughout the Western United States. Quick Quack Car Wash wash founded in 2004 and is based in Roseville, California.

Buy -
Investor

Vulcan Capital

Seattle, Washington, United States

Investor


Category Family Office
Founded 1986
Size Mega
Type Sector Agnostic
DESCRIPTION

Vulcan Capital is the private investment group of Vulcan Inc., the organization founded by Paul G. Allen to manage his personal and professional endeavors. Vulcan Capital looks to invest at all company stages and will consider opportunities across an array of industries. Sectors of interest include business services, consumer products, distribution and logistics, energy and natural resources, financial services and insurance, healthcare, manufacturing, media, technology, and telecom. The Firm's target investment size is $10 to $100 million. In addition to direct investing, Vulcan Capital also makes fund investments as well as invests in public securities. Vulcan Inc. was formed in 1986 and has offices in Seattle, Washington and Palo Alto, California.


DEAL STATS #
Overall 33 of 34
Sector (Digital Media) 1 of 1
Type (Growth Capital) 5 of 5
State (North Carolina) 3 of 3
Country (United States) 30 of 30
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-09 Flipkart

Bengaluru, India

Flipkart is an e-commerce destination and offers a wide range of product categories including electronics, household items, and apparel to customers across India. Flipkart was established in 2007 and is headquartered in Bengaluru.

Sell $16.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-14 TowerCo.

Cary, North Carolina, United States

TowerCo. LLC develops and owns wireless communications towers and leases the towers' capacity to communications service providers. In addition to leasing towers, the company also markets and manages third-party towers for regional carriers.

Sell -
Investor

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 118 of 175
Sector (Digital Media) 1 of 1
Type (Growth Capital) 8 of 17
State (North Carolina) 2 of 2
Country (United States) 53 of 72
Year (2018) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-28 Simmons

Atlanta, Georgia, United States

Simmons is the second-largest bedding manufacturer in the United States and a world leader in pocketed coil spring technology. Simmons mattresses are distributed under renowned brand names such as Beautyrest and BackCare.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 BHC

Seoul, South Korea

BHC Co. is one of franchise restaurant operators, with over 1,500 stores nationwide. The Company also operates several other popular restaurant chains, including Changgo, a full-service premium Korean barbecue restaurant, and Halmae, a quick-service soup restaurant. BHC creates healthy products with the highest priority on consumer safety. BHC Co. was founded in 2010 and is based in Seoul, South Korea.

Buy -
Investor

ICONIQ Capital


Category Growth Capital Firm
Founded 2011
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION


DEAL STATS #
Overall 30 of 91
Sector (Digital Media) 1 of 1
Type (Growth Capital) 14 of 17
State (North Carolina) 1 of 1
Country (United States) 27 of 80
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-04 Apttus

San Mateo, California, United States

Apttus is a global provider of the Intelligent Middle Office platform allowing enterprises to automate and optimize their most critical revenue and commercial relationship management processes. Apttus is powered by the Apttus Intelligent Cloud, a hybrid-cloud platform utilizing the most advanced technologies from Salesforce, Microsoft and IBM. Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC) and Contract Lifecycle Management (CLM) solutions. Apttus’ innovations include Max, the company’s Applied Artificial Intelligence that enables enterprises to achieve superior business outcomes. Apttus partners with a world-class ecosystem. Apttus was founded in 2006 and is based in San Mateo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Hippo Insurance Services

Palo Alto, California, United States

Hippo Insurance Services is a provider of insurance services. Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. Hippo Insurance Services was founded in 2015 and is based in Palo Alto, California.

Buy -