a.k.a. Brands Midco Holding Corp.

Cain Brothers, a division of KeyBanc Capital Markets, acted as buy-side advisor to Bookmark Medical, a portfolio company of Kinderhook Industries, on its acquisition of the Michigan assets of Village Medical, a subsidiary of VillageMD.

Cain Brothers has a longstanding relationship with Kinderhook and maintains on-going dialogue with Bookmark on M&A and capital raising opportunities. Cain Brothers was engaged based on our deep expertise in primary care, with this mandate further bolstering our credentials in the broader physician group and value-based care sectors.

Bookmark Medical is a provider-led healthcare organization dedicated to improving lives through high-quality care. Serving patients across Arizona, Massachusetts, Michigan, and Tennessee, Bookmark partners with providers to deliver coordinated, patient-centered care rooted in strong community relationships. Through primary care, specialty care, and affiliated provider partnerships, the organization is expanding access to healthcare while improving health outcomes for the communities it serves.

Kinderhook Industries is a private investment firm that has raised over $11 billion of committed capital and has made 500+ investments and follow-on acquisitions since its founding in 2003. Kinderhook matches differentiated, growth-oriented investment opportunities with its financial expertise and proprietary network of operating partners. Kinderhook focuses on middle market businesses with defensible niche market positioning in healthcare services, environmental & equipment services, and industrials & manufacturing.

VillageMD provides high-quality, accessible health care services for individuals and communities across the United States, with primary, multispecialty, and urgent care providers serving patients in traditional clinic settings, in patients’ homes, and through online appointments. Committed to serving all patients and working with all payers, VillageMD consistently innovates value-based care, bringing integrated applications, population insights and staffing expertise to its owned and affiliate practices, ensuring high-quality care, better patient outcomes, and a reduction in the total cost of care.

On July 31, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed a $1.05 billion Senior Secured Credit Facility for Avantus LLC (Avantus) in support of their expansive project pipeline. The Facility comprises a $520 million facility upsize to an existing $522 million corporate credit facility put into place in July 2024.

The expanded Facility will advance Avantus’ independent power producer (IPP) strategy and accelerate the execution of its portfolio across core markets in California and the desert Southwest. Its pipeline totals 24 GW of system capacity, including 13 GW of solar integrated with 44 GWh of storage. The near-term portfolio consists of 12 projects totaling 2.6 GWac of solar capacity and 2.5 GWac/9.8 GWh of battery storage capacity, and will generate revenue through long-tenor busbar power purchase agreements with various Tier-I offtakers.

KBCM joined the financing as a new Lead Arranger alongside other institutions.

Avantus Overview
Avantus develops, owns and operates utility-scale clean energy projects across California and the desert Southwest. The company’s development pipeline of solar with integrated storage will generate enough dispatchable power to serve more than 10 million Americans, day and night. Backed by strategic investment from KKR and EIG and building on more than a decade of industry leadership, Avantus is growing its position as an independent power producer, delivering affordable, reliable clean energy solutions to meet America’s growing energy demand.

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to Strive Medical, a portfolio company of NMS Capital, on its sale to Cardinal Health (NYSE: CAH).

Cain Brothers was engaged based on its experience in the home medical supply and DME sectors. The transaction continues Cain Brothers' track record of representing private equity-backed companies and momentum within the post-acute and distribution sectors.

Strive Medical, headquartered in Irving, Texas, is a provider of direct-to-patient urological, wound care, ostomy, incontinence and other medical supplies to patients in their homes and across the U.S. Since its founding, Strive has focused on giving patients the highest quality customer service and best products available.

Cardinal Health is a distributor of pharmaceuticals and specialty products, a global manufacturer and distributor of medical and laboratory products, a supplier of home-health and direct-to-patient products and services, an operator of nuclear pharmacies and manufacturing facilities and a provider of performance and data solutions. The company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day.

Founded in 2010, NMS Capital is a private equity firm managing over $2 billion in assets. NMS has partnered with founders and management teams in over 150 investments and follow-on acquisitions across Business Services and Healthcare Services. The firm’s strategy is to create long-term value by providing strategic and operational resources to accelerate organic and acquisition-driven growth to build industry-leading lower middle market companies in defensible and scalable end markets.

KeyBank Real Estate Capital and Blueprint Healthcare Real Estate provided $17.25 million in acquisition financing for Bethel Retirement Community, a 198-unit independent living and assisted living community in Modesto, California. The Sponsor, Alta-Northstar Senior Living, selected a five-year term with an earnout at first mortgage pricing with a national Life Company.

KeyBank Real Estate Capital has arranged $185 million in new Freddie Mac loans for Brookdale Senior Living Inc. (NYSE: BKD). Acting proactively, KeyBank and Brookdale refinanced pending 2027 debt maturities of Brookdale into new fixed-rate financing at an attractive rate of 5.38%. The new Freddie Mac debt is secured by seven seniors housing communities located on the West Coast. “Brookdale continues to address its debt maturities proactively, and this refinancing extends a portion of our 2027 maturities by six years to 2033 at economically similar terms,” said Dawn Kussow, Brookdale’s Chief Financial Officer. “This refinancing demonstrates the continued confidence our lending partners have in Brookdale’s business, communities, and long-term strategy. We extend our gratitude to Freddie Mac and KeyBank for their continued support and partnership.”

KeyBank Real Estate Capital and Blueprint Healthcare Real Estate provided $11 million in acquisition financing for The Villages of Windcrest, an 81-unit assisted living and memory care facility in Fredericksburg, Texas. The Sponsor, Senior Living Transformation Company (SLTC), selected a five-year term with an earnout at first mortgage pricing with a national Life Company.

On July 8, 2026, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of a $250 million Revolving Credit Facility and $400 million Term Loan B, in addition to the offering of $450 million of Senior Secured Notes (together, the Credit Facilities) for American Greetings Corporation (American Greetings or the Company), a portfolio company of Elliott Management (Elliott) and Clayton, Dubilier & Rice (CD&R). Proceeds from the Credit Facilities will be used to refinance the Company’s existing Term Loan B, repay outstanding Revolving Credit Facility borrowings and pay transaction fees and expenses. KBCM acted as Joint Lead Arranger and Joint Bookrunner on the transaction.

About American Greetings
Founded in 1906 and headquartered in Cleveland, Ohio, American Greetings is a leader in the large and enduring Celebrations marketplace, which includes greeting cards, digital celebrations, e-gift cards, party goods, gift packaging, and physical gifts, such as balloons, candles, and plush toys, among other products.

About Elliott Management 
Elliott was founded in 1977, is one of the oldest firms of its kind under continuous management and manages multi-strategy funds with approximately $79.8 billion of assets under management as of December 31, 2025. A key element of Elliott’s investment approach is its focus on the creation – not just identification – of value. Since 2005, Elliott has made numerous investments in the consumer and consumer services sectors with a focus on industry-leading companies across a range of growth profiles and stages of maturities.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice employs a distinctive approach to private equity investing, bringing together professionals and operating executives to pursue a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $45 billion in over 110 companies. CD&R has a disciplined and clearly defined investment strategy with a particular focus on market-leading multi-location services, manufacturing, and distribution businesses. 

On July 17, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed $356 million of Senior Secured Credit Facilities to support Exus Renewables North America, LLC (Exus) and its Exus PA, LLC wind portfolio (Portfolio). The financing includes a $164.9 million term loan, a $161.6 million tax equity bridge loan, and $29.4 million in letters of credit. KBCM acted as Coordinating Lead Arranger, Administrative Agent, Collateral Agent, and Depositary Agent.

The Portfolio consists of Highland North, a 75 MW utility-scale wind facility, and Cambria, a 61.6 MW utility-scale wind facility, both located in Cambria County, Pennsylvania. Each project utilizes Vestas turbines and is currently being repowered by Exus, which acquired the Portfolio in 2024. Cambria is expected to reach commercial operations later this year, with a ribbon-cutting ceremony for the Portfolio planned for September 2026. This financing represents the seventh closed transaction between KBCM and Exus.

The transaction reflects accelerating demand for clean energy from data centers and large corporate consumers. The projects expand Exus's Pennsylvania footprint, where the company owns more than 306.9 MW of wind capacity, including the completed 139.4 MW Twin Ridges Wind Farm in Somerset County.

About Exus
Founded in 2018, Exus Renewables North America is a leading independent power producer and owns, develops, repowers, and manages utility-scale renewable energy and storage assets across the U.S. Exus currently owns more than 5 GW of renewable energy assets and manages over 2.4 GW for third-party clients. Exus is backed by Partners Group, a Swiss-based global private equity firm with $152 billion in assets under management.

KeyBanc Capital Markets Inc. successfully closed ~$1.07 billion of syndicated senior secured credit facilities for US Fertility, a portfolio company of Amulet Capital Partners and L Catterton Partners. The financing included a $120 million Revolving Credit Facility, a ~$902 million Term Loan B, and a $46 million Delayed Draw Term Loan. Proceeds repriced the company’s existing credit facilities, lowering borrowing costs by 50 bps. KBCM served as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent based on Cain Brothers’ expertise in the women’s health space, our long-standing relationship with the sponsors and best-in-class leveraged finance platform.

US Fertility is the largest fertility group in the U.S. offering a broad range of assistive reproductive technology services and ancillary life sciences offerings. Since 2021, the company has grown from ~85 physicians across 59 locations to the leading IVF platform in the nation, with over 200 physicians across 118 treatment locations and 32 embryology labs.

Founded in 2015, Amulet Capital Partners is a middle-market private equity firm focused exclusively on making investments in the broader healthcare industry. With $2.7 billion in AUM, they are currently investing out of their third fund. Amulet partners with strong businesses across high-conviction, high-growth subsectors within the broader life sciences outsourcing, healthcare provider, and payor and payor services ecosystems.

Founded in 1989, L Catterton is the largest consumer-focused private equity firm in the world, with over $38 billion AUM across nine fund strategies in 18 offices globally. They have extensive experience in consumer healthcare and multi-site service platforms. L Catterton has an operationally focused value creation approach, augmented by a deep operating team with highly differentiated capabilities.

KeyBanc Capital Markets and Cain Brothers, a division of KeyBanc Capital Markets, closed the syndication of a $1.038 billion Add-on Term Loan B and the offering of $500 million of Senior Secured Notes for athenahealth Group, a portfolio company of Hellman & Friedman and Bain Capital. Proceeds were used to refinance existing debt. KeyBanc acted as Joint Lead Arranger and Joint Bookrunner.

athenahealth provides cloud-based enterprise software solutions for medical groups and health systems. The company’s software-as-a-service is bundled with high-impact technology-enabled services primarily offered to physicians, as well as health insurers and life sciences. The core offerings include electronic healthcare record, revenue cycle management and other complementary solutions.

Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high-quality growth businesses and targets equity investments ranging from $350 million to over $2 billion.

Bain Capital is one of the world’s largest private, multi-asset alternative investment firms and targets equity investments ranging from $150 million to $1 billion.

In July 2026, KeyBanc Capital Markets (KBCM), in collaboration with KeyBank Real Estate Capital, successfully structured and closed a $112 million senior secured loan facility for 155 Jefferson Street Urban Renewal LLC, the owner and landlord of the Newark School of Architecture & Interior Design in Newark, New Jersey. KBCM served as Sole Lead Arranger on the transaction.

The loan proceeds were used to refinance the property's existing debt and fund the remaining construction costs associated with Phase 2 of the project, which includes a gymnasium and auditorium facility adjacent to the academic building. The school is currently operational and serving students, while completion of Phase 2 is expected to trigger commencement of full rental payments under the lease agreement. Construction is expected to be completed in early 2027.

155 Jefferson Street Urban Renewal LLC is an affiliate of Summit Assets and Winchester Equities — New York-based real estate developers and owner-operators. The sponsors developed the school through a public-private partnership structure under which Newark Public Schools leases the facility for a 30-year term, with an option to purchase the property for $1 at lease maturity. The lease is supported by the A- rated credit profile of the Board of Education of the City of Newark, New Jersey, providing a strong underlying credit foundation for the transaction.

Newark School of Architecture & Interior Design is a newly constructed public high school focused on career and technical education, offering programs in architecture, engineering, interior design, electronics, HVAC, plumbing, and real estate.

On July 1, 2026, KeyBanc Capital Markets served as Joint Bookrunner on Forgent Power Solutions, Inc.’s (Forgent) $2.5 billion Follow-On Offering of 50,197,500 shares, including overallotment.

Forgent is a provider of engineered protection and control equipment used in data centers, the power grid, and energy-intensive industrial facilities. Major product categories of electrical distribution equipment that Forgent sells include electrical houses, substation enclosures, generator connection cabinets, power skids, automatic transfer switches, dry type transformers, remote power panels, switchboards, and switchgear.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to Smile America, a portfolio company of Beach Point Capital Management, in its sale to Kaltroco. 

Cain Brothers was engaged based on its experience in dental, specifically the pediatric dental sector, and long-standing relationship with the financial sponsor. Cain Brothers’ broad sector coverage enabled the Company to access a wide array of buyers and financing sources to facilitate the transaction.

Smile America is the leading provider of school-based dental care services, with a mission to provide access to oral healthcare to underserved populations. Smile America currently provides preventative care and minimally invasive dental procedures to 370,000+ patients in 8,000+ schools across 20 states.

Beach Point is a global alternative investment manager focused on opportunities across the credit spectrum. The firm’s integrated platform spans high-yield bonds, senior loans, CLO origination, securitized credit, direct lending, real estate credit, as well as hybrid and flexible capital solutions. Founded in 2009, Beach Point is employee-owned and manages over $20 billion in assets.

Kaltroco is a private investment company with headquarters in Jersey, Channel Islands and investment professionals in Nashville, Zurich, and Cape Town. Kaltroco partners with founders and management teams to pursue ambitious growth objectives. As a family-backed investment company with no outside investors and no restrictions on structure or hold period, Kaltroco has the flexibility to invest on the timeline that best fits its portfolio companies' needs and its partner management teams' objectives. Since its founding, Kaltroco has invested in over 30 companies globally, with a focus on the healthcare services, business services, and consumer industries.

On June 16, 2026, KeyBanc Capital Markets served as Joint Bookrunner on a $550 million Senior Notes offering for California Resources Corporation. Proceeds will be used to refinance existing indebtedness and for general corporate purposes.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to Nutrisense, a portfolio company of 1315 Capital, on its sale to Dexcom (NASDAQ: DXCM).

Cain Brothers was engaged based on its experience in the medical device and health tech sectors. The acquisition represents a significant strategic move for hardware-focused Dexcom to accelerate their push into the large, Type 2 diabetic and metabolic health markets. By leveraging Nutrisense’s tech-enabled, direct-to-consumer distribution and coaching layer, Dexcom intends to increase sensor penetration, improve retention and monetize glucose data. The transaction continues Cain Brothers’ track record of representing private equity-backed companies and momentum in cross-sector M&A. 

Nutrisense is a digital metabolic health platform that combines continuous glucose monitoring (“CGM”), a mobile app and registered dietitian coaching to help users better understand how food, sleep and lifestyle affect their blood sugar. The company primarily serves health-motivated and pre-diabetic individuals through a subscription model, translating real-time glucose data into personalized nutrition and behavior guidance aimed at improving metabolic health and weight management.

Dexcom is a leading glucose sensing and continuous glucose monitoring company focused on helping people take control of their health through innovative biosensing technology. For more than 25 years, Dexcom’s technology has helped transform how people manage diabetes and track glucose, providing real-time insights that support more informed decisions and greater confidence in daily health management.

Founded in 2014, 1315 Capital is a healthcare-focused investment firm with over $1 billion of assets under management. The firm invests in commercial-stage companies across healthcare services, pharma/medtech products, pharma/medtech outsourcing, and health & wellness, partnering with management teams to scale businesses that positively impact patients, physicians and the broader healthcare system.

KeyBanc Capital Markets and Cain Brothers, a division of KeyBanc Capital Markets, acted as Active Joint Bookrunner for VSP Optical Group’s $1 billion public bond issuance.

After completing their inaugural bond offering in November 2025, VSP announced a second offering in May. Over a one-day marketing period and utilizing a pre-recorded presentation, the company garnered over $7.6 billion of orders and priced $500 million of seven-year and $500 million of 10-year Senior Unsecured Notes with no new issue concession. Proceeds were used to refinance existing indebtedness and fund general corporate purposes.

KeyBanc Capital Markets serves as Left Lead Arranger and Administrative Agent on VSP’s existing credit facilities and KBCM and Bank of America acted as joint leads on both the 2025 and 2026 bond offerings.

VSP is a doctor-governed, not-for-profit entity that creates value for members and opportunities for its network doctors. The company’s network has serviced over 91 million members and 1,200 retail locations. VSP’s three-pillar strategy focuses on growing its core competencies, which encompasses insurance, network, and supply chain capabilities, providing access to high-quality vision care and eyewear.  

On May 29, 2026, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $200 million of Senior Secured Credit Facilities (the Credit Facilities) consisting of a $150 million Revolving Credit Facility and a $50 million Term Loan for SeatGeek, Inc. (SeatGeek or the Company). Proceeds from the Credit Facilities will be used to refinance the Company’s existing debt, fund working capital and support general corporate purposes. 

KBCM acted as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the transaction due to its long-running strategic dialogue with the Company and best-in-class Technology Investment Banking and Debt Capital Markets capabilities. The transaction represents SeatGeek’s debut in the syndicated loan market. SeatGeek is backed by leading growth investors, including Accel, TCV, and Wellington.

“We’re pleased to partner with KBCM on this facility,” says Teddy Collins, Executive Vice President, Finance at SeatGeek. “The financing enhances our flexibility as we continue investing in our platform, supporting our partners and executing on our long-term growth strategy. It also reflects the confidence our banking partners have in the strength of our business and future opportunities.”

SeatGeek is a technology platform powering the business of live events for fans, teams, leagues and venues. The Company’s integrated platform combines enterprise ticketing technology, venue operations software and a consumer marketplace to help partners grow revenue, deepen fan relationships and deliver better live experiences. Trusted by leading teams, leagues and venues across North America, SeatGeek continues to expand its role across the live event ecosystem through innovative technology and fan-first experiences.

On May 28, 2026, KeyBanc Capital Markets served as Joint Bookrunner on Forgent Power Solutions, Inc.’s (Forgent) $2.3 billion Follow-On Offering of 48,622,000 shares, including overallotment.

Forgent is a provider of engineered protection and control equipment used in data centers, the power grid, and energy-intensive industrial facilities. Major product categories of electrical distribution equipment that Forgent sells include electrical houses, substation enclosures, generator connection cabinets, power skids, automatic transfer switches, dry type transformers, remote power panels, switchboards, and switchgear.

On May 27, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed $173.4 million of Senior Secured Credit Facilities for Prospect Power, a 150 MW/600 MWh utility-scale battery energy storage system in Rockingham County, Virginia. Prospect Power is owned by Elevate Infrastructure, a portfolio company of ArcLight Capital Partners. The facilities include a $154 million term loan and $19.4 million in letters of credit. Proceeds will be used to support the operating period of the project. KBCM acted as Joint Lead Arranger, Administrative Agent, Collateral Agent and Depository Bank.

This represents the first transaction between Elevate and KBCM.

About Elevate Infrastructure
Formed in 2022 and headquartered in Boston, Massachusetts, Elevate Infrastructure is a utility-scale battery storage developer and Independent Power Producer (IPP) with development and operating capabilities across North America. Backed by ArcLight Capital Partners, a leading infrastructure investor, the Company has a 630 MWh operating base and over 12 GWh of projects under construction or development, with operational assets spanning nine states and five markets.

About ArcLight Capital Partners
ArcLight Capital Partners is a Boston-headquartered energy infrastructure asset manager with over $80 billion invested across 65+ GW of capacity and 47,000 miles of electric and gas transmission infrastructure. Founded in 2001, ArcLight has invested approximately $5 billion in renewable infrastructure platforms across wind, solar, geothermal and hydroelectric facilities. ArcLight has extensive experience owning and operating renewable infrastructure projects across both major platform investments and individual project investments.

On May 27, 2026, KeyBanc Capital Markets served as Co-Manager on National Fuel Gas Company’s offering of $500 million of Senior Notes due 2029, $500 million of Senior Notes due 2031 and $500 million of Senior Notes due 2036. Proceeds will be used to fund the acquisition of CNP Ohio, CenterPoint Energy Resources Corp.’s Ohio gas utility subsidiary, and for general corporate purposes.

KeyBank closed a $24 million credit facility for Shared Practices Group, LLC (SPG), a fast-growing dental services organization with a nationwide footprint. Acting as Sole Lender, KeyBank structured a comprehensive financing solution designed to refinance existing debt, optimize SPG’s capital structure, and provide the liquidity needed to support ongoing growth and operational expansion.

The financing package included a Term Loan, Delayed Draw Term Loan, Revolving Line of Credit, and Equipment Finance Line, providing SPG with the flexibility to fund working capital needs, invest in strategic initiatives, and pursue future opportunities. In addition to financing, KeyBank will provide a full suite of banking services, including treasury management, merchant services, deposits, and payments advisory.

SPG sought a financing advisor that could help reduce its cost of capital while providing a scalable solution aligned with its long-term growth strategy. Drawing on its deep healthcare and dental industry expertise, as well as a long-standing relationship with the company’s advisor, BT Capital Group, led by Bagus Tjahjono Pan, KeyBank delivered a customized structure featuring enhanced flexibility, improved terms, and integrated equipment financing. The solution supports SPG’s investments in advanced implant and diagnostic technologies while positioning the company for continued expansion.

Founded in 2021 by six dentists who combined their practices to create a larger platform, SPG has rapidly expanded its presence across the U.S. The company operates multi-location denture, implant, and general dentistry practices, while also providing practice management and coaching services to dental professionals. Headquartered in Scottsdale, Arizona, SPG serves patients through locations spanning 25 states.

Through this transaction, SPG gains access to the financial resources and strategic banking capabilities needed to continue scaling its platform and expanding access to high-quality dental care nationwide.

On May 26, 2026, KeyBanc Capital Markets served as Co-Manager on a $500 million Senior Notes offering for PBF Energy Inc. Proceeds will be used to refinance existing indebtedness and for general corporate purposes.

KeyBank successfully closed a line of credit for Flatiron Search Partners, LLC. Proceeds from the facility will be used to support working capital as they grow their business. Key acted as Sole Lender on the transaction. Key also provided a full cash management relationship and fraud protection, along with simplifying their online banking processes.

Flatiron Search Partners is a consumer-focused executive search and talent advisory firm that partners with private equity-backed and growth-stage companies to build leadership and functional teams across all stages of growth. The firm operates as a long-term partner to its clients, supporting talent strategy across executive and critical non-executive roles.

On May 7, 2026, KeyBanc Capital Markets served as Joint Bookrunner on a $1 billion Senior Notes offering for Harvest Midstream I, L.P. Proceeds will be used to refinance existing indebtedness and for general corporate purposes.

KeyBank closed $11 million in Senior Secured Credit Facilities for Johnson Automotive Group. Proceeds will support the company’s expansion through the acquisition of Brookfield Chrysler Dodge Jeep Ram (CDJR) in Benton Harbor, Michigan, and the refinancing of its existing Wabash Valley CDJR dealership in Wabash, Indiana. The deal includes floorplan credit facilities and payment solutions tailored to the dealership’s operational and growth needs. KeyBank acted as Sole Lender on the transaction.

Johnson Automotive Group was founded in 2025 by Eric Johnson with the acquisition of Wabash Valley CDJR. Its performance led to the purchase of Brookfield CDJR, previously owned and operated by Don Brookfield for 37 years.

On May 6, 2026, KeyBanc Capital Markets (KBCM) successfully closed the syndication of an undisclosed amount in Senior Secured Credit Facilities (the Credit Facilities) to support Siris Capital Group’s (Siris) acquisition of Takkion Group LLC (TAKKION or the Company). Proceeds from the Credit Facilities were used to finance the acquisition of Siris and pay transaction-related fees and expenses.

TAKKION is a leading independent service provider delivering integrated solutions for renewable energy projects across North America. The company supports the full asset lifecycle—from logistics and transportation to construction, operations, maintenance, remanufacturing, and electrical services. With a nationwide network of skilled professionals and specialized equipment, TAKKION brings the scale and technical expertise to execute complex projects safely, efficiently, and to the highest quality standards. Guided by its core values of Safety, Integrity, and Transparency, TAKKION helps customers maximize performance and long-term asset value.

Siris is a leading private equity firm focused on control investments in North American middle-market services companies that support critical technology infrastructure underpinned by secular tailwinds, such as artificial intelligence, cybersecurity and digital transformation. Based in West Palm Beach, Florida, the firm has invested approximately $9 billion since its inception as of December 31, 2025.

On May 6, 2026, KeyBanc Capital Markets acted as Exclusive Financial Advisor and Sole Placement Agent for the issuance of $324.8 million privately placed Senior Secured Notes (the Notes) for Axium Campus Housing LLC, 100% owned by AxInfra US LP and its affiliates (together, Axium). The net proceeds from the sale of the Notes will be used to refinance existing debt of the UMass Project Company, the Vanderbilt Project Company, and the Iowa Project Company (together, the Portfolio).

The Portfolio consists of the following projects:

UMass Project (Slate Undergraduate) is a 253-unit housing facility entailing undergraduate apartment-style housing (623 beds) and related infrastructure, including a dining facility, a wellness space, and parking located on-campus at the University of Massachusetts, Amherst. 

UMass Project (Artisan Graduate) is a 140-unit housing facility entailing graduate student apartment-style housing (201 beds) and related infrastructure located on-campus at the University of Massachusetts, Amherst.

Vanderbilt Project is a 529-unit graduate and professional student housing facility (616 beds) located on-campus at Vanderbilt University.

Iowa Project is a 522-unit student housing facility (864 beds) located on-campus at the University of Iowa.

Axium is an independent portfolio management firm with a diverse portfolio of over 260 assets. The firm focuses on middle market investments, acquisitions, and development of assets, with a strong emphasis on sustainable infrastructure assets in North America.

On May 4, 2026, KeyBanc Capital Markets served as Co-Manager on an $800 million Senior Notes offering for Delek Logistics Partners, LP. Proceeds will be used to refinance existing indebtedness and for general corporate purposes.

On May 1, 2026, KeyBank closed on a new $200 million credit facility (the Facility) for the Virtus Real Estate Enhanced Core Fund (VREEC). KeyBank serves as the Joint Lead Arranger and Administrative Agent for the Facility. 

VREEC is an open-end, core real estate fund focused on acquiring high-quality, stabilized properties, including workforce housing, healthcare, student housing, self-storage, and education sectors. VREEC is sponsored and managed by Austin, Texas-based Virtus Real Estate Capital.

On April 30, 2026, KeyBanc Capital Markets served as Administrative Agent, Coordinating Lead Arranger, Sole Bookrunner and Joint Lead Arranger on a $1.5 billion Senior Secured Revolving Credit Facility for Diversified Energy Company. Proceeds will be used to fund the acquisition of Haynesville Shale assets from Sheridan Production Company III, LLC and for general corporate purposes.

KeyBank Community Development Lending & Investment provided capital for the new construction of The Queen Senior apartments, a 49-unit senior affordable housing project in Philadelphia, Pennsylvania. 49 units will serve senior citizens earning no more than 20%-50% the AMI (Area Median Income). Supportive services will be offered to residents and will include health and wellness programs, lifeline services, social services, and counseling. We want to thank The Queen Senior LLC for their sponsorship and shared mission to build much-needed affordable housing in Pennsylvania.

The financing includes a construction loan arranged by Seaver Rickert.

KeyBank Community Development Lending & Investment provided capital for the new construction of The Medow on Seneca, a 70-unit affordable housing project in Ithaca, New York. 70 units will serve families and individuals earning no more than 30%-80% the AMI (Area Median Income). The project includes 35 supportive housing units consisting of 25 units supported by the Empire State Supportive Housing Initiative (ESSHI) and 10 units supported through the New York State Office of Mental Health Supportive Housing Single Room Occupancy (OMH SP-SRO) program. Supportive services will be provided by Rehabilitation Support Services, Inc. (RSS) and will include case management, crisis response, living skill support, behavioral-health coordination employment readiness, and safety planning for domestic violence survivors. We want to thank Rehabilitation Support Services for their sponsorship and shared mission to build much-needed affordable housing in New York.

The financing includes a $14.8 million construction loan arranged by Seaver Rickert.