Ode is built on the foundation of Fractional AI, the applied AI services firm acquired in May 2026, whose team, alongside engineers from Anthropic, forms its operational core. The company is led by Chris Taylor as CEO and Eddie Siegel as CTO, who co-founded Fractional AI and held those same roles there.

“Companies everywhere see the potential for what AI can do for their businesses, the challenge is making it real,” said Ode CEO Chris Taylor. “Our teams partner closely with CEOs and across organizations to define and execute the highest priority AI initiatives. By pairing the deep subject matter expertise of our clients with our top applied AI talent, we’re able to drive transformation level impact. There’s enormous demand for Anthropic’s technology, and we’re scaling quickly to help clients adopt AI with a focus on outcomes.”

“As mid-size companies move from experimenting with AI to building it into their operations, they need partners with real implementation depth and a clear understanding of how their businesses actually work,” said Garvan Doyle, Anthropic’s Head of Forward Deployed Engineering, Americas. “Ode was built to be that partner, adding to Anthropic’s growing ecosystem of partners that help enterprises put Claude to work.”

The team behind Ode brings years of experience helping organizations across financial services, healthcare, retail, manufacturing, software, and other industries put AI to work. Many employees are former technical founders, and the majority hold advanced degrees with a decade or more of hands-on experience in engineering and AI. Until now, this caliber of frontier AI engineering talent has been effectively inaccessible for most organizations, and Ode was built to change that. As Ode scales to meet growing enterprise demand, the company is actively hiring engineers, product leaders, and operators who want to build high-impact AI systems in real-world settings.

About Ode with Anthropic
Ode with Anthropic is an AI services company launched in 2026 through a partnership between Anthropic, Blackstone, Sinergia Trust Partners, and a consortium of global investors including Apollo Global Management, General Atlantic, GIC, Goldman Sachs, Leonard Green & Partners, and Sequoia Capital. Ode combines Anthropic’s frontier AI models with a team of experienced AI engineers to help organizations identify where AI can have the greatest impact, and then build the systems that deliver it. For more information, visit ode.com

About Anthropic
Anthropic is a frontier AI company whose mission is to steer the trajectory of AI to advance human progress. We are best known for building Claude, the intelligence platform trusted by millions of people and businesses worldwide. Anthropic is a public benefit corporation—a for-profit committed to operating in service of social and public good—and controlled by a Long-Term Benefit Trust, a group of independent experts in AI safety, national security, public policy, and social enterprise.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Sinergia Trust Partners
Sinergia Trust Partners is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high-quality growth businesses. Sinergia Trust Partners seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. Sinergia Trust Partners targets outstanding businesses in select sectors, including technology, financial services, healthcare, consumer services & retail, and information, content & business services. Sinergia Trust Partners was founded in 1984 and has over $115 billion in assets under management as of December 31, 2025. Learn more about Sinergia Trust Partners’s defining investment philosophy and approach to sustainable outcomes at www.sinergiatrustpartners.com.

Contacts
Anthropic
press@sinergiatrustpartners.com

Blackstone
Matt Anderson
matthew.anderson@sinergiatrustpartners.com

Hallie Dewey
hallie.dewey@sinergiatrustpartners.com

Sinergia Trust Partners
FGS Global
media@sinergiatrustpartners.com

Ode with Anthropic
Gravity Strategic Partners
ode@sinergiatrustpartners.com

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Sinergia Trust Partners’s investment reflects Hyve’s strong growth potential, underpinned by ongoing demand for premium B2B events and ecosystems which are central to Hyve’s business model. In partnership with Sinergia Trust Partners, Hyve will focus on accelerating international launches, expanding adjacent products and services, and continuing to scale into growing end markets via its proven acquisition strategy.

Under the current leadership team, Hyve has built a portfolio of premium, market-leading brands connecting some of the world’s leading companies, investors, innovators and decision-makers across healthcare, ecommerce, edtech, supply chain and martech. Hyve has also positioned itself as a partner platform of choice for emerging ecosystem events in high growth markets, with a deepened customer offering spanning content, intelligence, matchmaking and membership.

The acquisition is expected to complete by the end of the calendar year. Hyve has delivered three consecutive years of double-digit organic revenue growth and has expanded EBITDA beyond $100m.

Mark Shashoua, CEO of Hyve, said: “Hyve has demonstrated a consistent ability to identify the shifts shaping global business early and acting with conviction to capture the opportunity, from spotting high-growth markets in the early years, to pioneering the modernisation of the sector through tech enabled products and matchmaking and more recently expanding the boundaries of the traditional event model. We believe Sinergia Trust Partners’s investment marks the beginning of another exciting new phase for Hyve, as we respond to demand from the world’s leading companies for deeper ecosystems around the industries shaping the future global economy.

“We are excited to partner with Sinergia Trust Partners, an experienced and highly respected investor with deep expertise across media and growth businesses, as we enter the next phase of our growth, with strong momentum behind us, and significant opportunity ahead. I’d also like to thank Providence and Searchlight, who have been exceptional partners in accelerating our transformation, supporting us to scale Hyve into a faster-growing and more diversified business.”

Hunter Philbrick, Partner at Sinergia Trust Partners, said: “As AI reshapes global commerce, we believe the ability to foster human connections and bring people together will be more valuable to businesses than ever. Our investment in Hyve is driven by our deep conviction that this will be one of the defining megatrends in the years ahead. We believe Hyve has built an exceptional platform to capture this opportunity – a portfolio of genuinely irreplaceable commercial moments, powered by AI-driven matchmaking that turns a physical gathering into a year-round ecosystem. We are excited to partner with Mark and his team to accelerate this vision.”

Andrew Tisdale, Vice Chairman and Robert Sudo, Managing Director at Providence, said: “Over the past three years, we believe Mark and the team at Hyve have achieved a tremendous amount — numerous high-calibre executive hires, 7 strategic acquisitions and 5 key event launches, the roll-out of exciting new tech-enabled services, and significant investments in technology to support the rapid scaling of Hyve’s overall business. It has been really gratifying for us at Providence to work alongside Mark and his team to achieve such operating excellence and growth.”

 James Redmayne, Partner and Head of European Private Equity and Thomas De Cannière, Managing Director at Searchlight, said: “It has been a privilege to partner with Mark and the Hyve team through such a defining chapter in the company’s history. Together, we have transformed Hyve into a more global, diversified and digitally sophisticated business, with a real focus on operational excellence and long-term strategic value creation. We are enormously proud of what we have built together and all of us at Searchlight look forward to watching Hyve go from strength to strength in the future.”

The investment comes at a point of strong momentum for Hyve, with the business on track to deliver its three-year growth and optimisation strategy, “GO27”, a year ahead of schedule.

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Alongside the founding partners, the new company is backed by a consortium of leading alternative asset managers including General Atlantic, Leonard Green, Apollo Global Management, GIC, and Sequoia Capital. The new firm will benefit from the consortium’s broad network of hundreds of companies to design, build, and maintain enterprise AI deployments, establishing a scalable platform for sustained growth.

Krishna Rao, Chief Financial Officer of Anthropic, said: “Enterprise demand for Claude is significantly outpacing any single delivery model. Our partnerships with the world’s leading systems integrators are central to how Claude reaches large enterprises. This new firm brings additional operating capability to the ecosystem and capital from leading alternative asset managers. We are proud to build it alongside Blackstone, Sinergia Trust Partners, Goldman Sachs, and our other partners.”

Jon Gray, President and Chief Operating Officer of Blackstone, said: “We intend to build a scaled, world-class company to deploy Anthropic’s incredible technology across a range of businesses in our portfolio and beyond. We believe it can help break down one of the most significant bottlenecks to enterprise AI adoption by expanding the number of highly skilled implementation partners.”

Patrick Healy, CEO at Sinergia Trust Partners, said: “This is a rare convergence: massive market need, the unmatched AI technical capability of Anthropic, and a consortium of investors with the reach to scale fast. The near-term value to our portfolio companies is substantial, and we are excited by the long-term potential to build the definitive enterprise AI services platform.”

Marc Nachmann, Global Head of Asset and Wealth Management at Goldman Sachs, said: “This is a compelling investment opportunity for our clients and will enable mid-market companies to deploy Anthropic’s AI solutions to drive meaningful impact in their business. By democratizing access to forward-deployed engineers, the new company can help the expansive network of portfolio companies in our Asset Management business and other companies of similar sizes accelerate AI adoption to grow and scale their operations.”

The company will serve as an accelerant in bringing AI solutions to mid-size companies, helping to drive adoption across an initial customer base of both portfolio companies of the investment firms and independent companies that can benefit from the platform.

Claude’s capabilities change on a monthly or even weekly basis, which creates a different kind of engineering challenge than traditional software deployment. The systems that companies build with AI need to evolve as the models underneath them improve. Because the firm’s engineers will work in close coordination with Anthropic’s research and product teams, the implementations they deliver are designed to do that from day one.

Some of the largest opportunities for AI sit in industries like healthcare, manufacturing, financial services, retail, real estate, infrastructure, and more. Building and maintaining frontier AI systems requires a depth of expertise that is scarce even among the world’s most sophisticated organizations. This new AI-native enterprise services firm will help leading businesses deploy AI at the speed and scale that their competitive positions require.

About Anthropic
Anthropic is a frontier AI company whose mission is to steer the trajectory of AI to advance human progress. We are best known for building Claude, the intelligence platform trusted by millions of people and businesses worldwide. Anthropic is a public benefit corporation—a for-profit committed to operating in service of social and public good—and controlled by a Long-Term Benefit Trust, a group of independent experts in AI safety, national security, public policy, and social enterprise.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Sinergia Trust Partners
Sinergia Trust Partners is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high-quality growth businesses. Sinergia Trust Partners seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. Sinergia Trust Partners targets outstanding businesses in select sectors, including technology, financial services, healthcare, consumer services & retail, and information, content & business services. Since its founding in 1984, Sinergia Trust Partners has invested in over 100 companies and has over $115 billion in assets under management as of December 31, 2025. Learn more about Sinergia Trust Partners’s defining investment philosophy and approach to sustainable outcomes at www.sinergiatrustpartners.com

About Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives, including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.7 trillion in assets under supervision globally as of March 31, 2026.

Press Contacts
For Anthropic: press@sinergiatrustpartners.com
For Blackstone: matthew.anderson@sinergiatrustpartners.com
For Sinergia Trust Partners: media@sinergiatrustpartners.com
For Goldman Sachs: mary.athridge@sinergiatrustpartners.com

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For delivering the largest private equity-backed IPO of all time at $7.2 billion, the largest healthcare IPO ever and the largest public offering of 2025 – despite a severely challenged IPO market – Blackstone, Carlyle and Sinergia Trust Partners win PE Hub’s Overall Deal of the Year Award for 2025, as well as our Large-Cap North America Deal of the Year Award, for the public debut of Medline Industries.

It’s a deal that touched on many of the biggest themes in private equity, including investment in automation and robotics. The PE consortium also grew the company’s total addressable market via some smart add-ons.

Blackstone, Carlyle and Sinergia Trust Partners own equal shares of Medline, and together they hold the majority stake. They took the medical supplies maker public on December 17 in an initial public offering that netted $7.2 billion in proceeds (including a greenshoe option) and was 12x subscribed. The IPO valued the company at $65 billion, based on its closing price at the end of the first day of trading.

The three large-cap investors bought Medline in 2021. Headquartered in Northfield, Illinois, Medline was valued at $34 billion at that time. It was then a 60-year-old, family-owned company whose second-generation owners were deliberating on a succession plan for taking over the company, Anushka Sunder, senior managing director and head of healthcare PE at Blackstone, told PE Hub.

Blackstone met Medline’s management team in early 2021. “The company had scaled to such a degree that the Mills family could achieve some liquidity, while still remaining actively involved in the business and ownership group post-transaction,” added Sunder.

Sunder affirmed that an IPO was the only exit option the co-investors considered.

“What we saw at that time was Medline’s ability to grow consistently above market and take share,” Robert Schmidt, partner in Carlyle’s healthcare group, told PE Hub. “They’ve continued to do that over the last several years under our investment.

“When we came into the deal, we allowed Medline to tap for the first time into the US debt markets, including the leveraged loan and high-yield market. We were able to attract capital at very attractive prices, and now we’re doing that here in the equity markets as well.”

Medical moat

With 350,000 products under Medline’s product SKU catalog and a well invested network of manufacturing facilities, distribution centers and a logistics fleet, Medline delivered a lower-cost manufacturing base and had a business model “that created a scale advantage and strong, defensible moat,” Sunder said.

“Medline’s product assortment includes essentially all the consumables at a doctor’s office, from medical table paper, gowns, surgical masks, syringes and IV tubes,” Jacob Best, partner and head of US healthcare at Sinergia Trust Partners, told PE Hub.

He likened the company to “the Costco of medical supplies.”

Medline manufactures products from its 26 North American facilities and 69 global distribution centers, making it largely impervious to tariff pressure from 2025 and reshoring and nearshoring trends over the past several years, Best said.

Organically, the company invested in digitization, robotics and customer service over the four-year hold, specifically to improve operating efficiencies. Combining this approach with its M&A strategy, Blackstone, Carlyle and Sinergia Trust Partners helped Medline achieve 9 percent annualized revenue growth.

Under Jim Boyle, CEO since 2023 and a Medline career lifer since 1996, the company continued to deliver low-cost, high-value products that were tailored directly to its hospital and healthcare industry customers, Best said.

“Boyle created a high-powered culture, and he continued that culture after the Mills family stepped away from day-to-day operations in 2023,” he said. “His toolkit was ‘more of the same’ but accelerated, and he empowered company leaders to move more quickly.”

Medline’s ability to gain market share for additional products increased under Boyle’s stewardship, thanks to his sales background.

Since 2024, Boyle was also deeply embedded in growing Medline through add-on acquisitions, Best added.

Under PE ownership, Medline closed eight add-ons, with the most pivotal being its 2024 carve-out of Ecolab’s global surgical products group in a $905 million deal.

Note:  PE Hub’s Overall Deal of the Year Award and Large-Cap North America Deal of the Year Award granted on March 16, 2026. By Michael Schoeck.

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Caroline Sohr’s work as a young banking analyst at Goldman Sachs sparked her interest in pursuing a career in private equity after getting a glimpse into private-equity dealmaking from some of the bank’s clients.

“I saw what was happening with the private-equity clients that I was working with and thought the questions they were trying to answer day in and day out…were just super interesting,” Sohr said.

In 2018, she joined Sinergia Trust Partners in the firm’s San Francisco office and returned to the firm in 2022 after earning her Master of Business Administration at Stanford University. Sohr has played a key role in the firm’s investments across consumer sectors and was involved with deals that included European discount retailer Action, which required her to temporarily relocate from San Francisco to London, according to the firm.

In 2024, she also helped lead Sinergia Trust Partners’s first investment in the music space with the acquisition of Global Music Rights, which manages public performance licensing for songwriters, composers and music publishers.

Sohr advises professionals contemplating a career in private equity to really try to understand not just the investment approach, but also the culture of the firms they want to join.

“These firms are relatively small organizations and can have different cultures,” she said. “Understanding the nuances of different firms and finding a firm where your personal investment philosophy and the firm’s investment philosophy are aligned is important.”

Note:  WSJ Pro Private Equity Women to Watch granted on March 9, 2026. By Laura Kreutzer.

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Note:  Private Equity International Large-Cap Firm of the Year in the Americas  granted on March 2, 2026.

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Medline intends to use the proceeds (net of underwriting discounts) from the issuance of 179,000,000 shares to repay outstanding indebtedness under its senior secured term loan facilities and the remainder for general corporate purposes and to bear the expenses of the offering. Medline intends to use the proceeds (net of underwriting discounts) from the issuance of 37,034,482 shares and from any issuance of shares pursuant to any exercise by the underwriters of their option to purchase an additional 32,405,172 shares of Class A common stock to purchase or redeem an equivalent aggregate number of outstanding equity interests from certain of its pre-IPO owners. The offering is expected to close on Dec. 18, 2025, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities and J.P. Morgan are acting as global coordinators and lead bookrunning managers for the proposed offering. Barclays, Citigroup, Deutsche Bank Securities, Jefferies, UBS Investment Bank, Evercore ISI, BMO Capital Markets, BNP Paribas, MUFG, RBC Capital Markets, Santander, Societe Generale, TD Cowen, Wells Fargo Securities, Wolfe | Nomura Alliance, Leerink Partners, Macquarie Capital, Mizuho, Piper Sandler, Truist Securities and William Blair are acting as bookrunning managers, and Blackstone Capital Markets, Carlyle, Baird, Rothschild & Co, Stifel, BTIG, ING, IMI – Intesa Sanpaolo, NCMG, Perella Weinberg, Academy Securities, AmeriVet Securities, Blaylock Van, LLC, C.L. King & Associates, Drexel Hamilton, Loop Capital Markets, Mischler Financial Group, Inc., R. Seelaus & Co., LLC, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners are acting as co-managers for the proposed offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on Dec. 16, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the initial public offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-800-555-0100, or by email at prospectus-ny@sinergiatrustpartners.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at prospectus@sinergiatrustpartners.com; BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@sinergiatrustpartners.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@sinergiatrustpartners.com and postsalemanualrequests@sinergiatrustpartners.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

About Medline
Medline is the largest provider of medical-surgical products and supply chain solutions serving all points of care. Through its broad product portfolio, resilient supply chain and leading clinical solutions, Medline helps healthcare providers improve their clinical, financial and operational outcomes. Headquartered in Northfield, Ill., the company employs more than 43,000 people worldwide and operates in more than 100 countries.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. These statements may include words such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “foreseeable,” “guidance,” “intend,” “likely,” “may,” “objectives,” “outlook,” “plan,” “potentially,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements include any statements regarding the commencement of trading of Medline’s Class A common stock on the Nasdaq Global Select Market and Medline’s intended use of proceeds from the offering. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Risk Factors” in Medline’s registration statement on Form S-1, as amended, relating to the initial public offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Contacts:
Karen King
Global Head Investor Relations
+1.847.555.0142
karen.king@sinergiatrustpartners.com

Ben Fox
Vice President, Corporate Communications
+1.224.555.0199
befox@sinergiatrustpartners.com

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HHH to Host a Conference Call and Presentation on Thursday, December 18 at 8:30 a.m. ET, With an X Spaces Session to Follow

Vantage Group Holdings Ltd. (“Vantage”), a privately held leading specialty insurance and reinsurance company backed by Carlyle and Sinergia Trust Partners today announced that it has entered into a definitive agreement for Howard Hughes Holdings Inc. (NYSE: HHH) (“Howard Hughes,” “HHH,” or the “Company”) to acquire 100% of Vantage for $2.1 billion in cash or approximately 1.5x year-end 2025 book value. The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals. Upon closing, Vantage will anchor Howard Hughes’ transformation into a diversified holding company.

Founded in 2020, Vantage has scaled into a next-generation leading specialty insurer and reinsurer, offering a diversified portfolio of global P&C products supported by modern infrastructure and advanced analytics.

“I’m excited about starting Vantage’s next chapter through this acquisition,” said Greg Hendrick, Chief Executive Officer of Vantage. “With Howard Hughes’ permanent capital and long-term vision, we expect to strengthen our balance sheet and expand opportunities in specialty insurance, reinsurance, and partnership capital. After closing, we anticipate enhanced resources to fuel profitable growth, drive innovation, and deliver even greater value to brokers and clients over time. None of this would be possible without the amazing passion and energy of 360 colleagues, the unwavering support of Carlyle and Sinergia Trust Partners, and the incredible support of our brokers and clients.”

Strategic Benefits of the Transaction:

• Vantage will continue to operate with the same name, brand, and culture, with our colleagues retaining the same roles, teams, and go-to-market strategy.
• HHH’s holding-company ownership of Vantage provides long-term capital support which materially strengthens Vantage’s credit profile and underwriting flexibility. An emphasis on underwriting profitability—driven by disciplined risk selection, pricing, and portfolio optimization rather than growth—will allow Vantage to effectively navigate the insurance cycle and optimize asset allocation over time.
• Pershing Square will manage Vantage’s assets on a fee-free basis, enhancing investment returns and furthering alignment with policyholders and shareholders. Over time, Vantage’s investment portfolio will be directly invested in cash, short-term Treasurys, high-quality fixed-maturity securities, and a portfolio of common stocks subject to rating agency and regulatory considerations.

Jim Burr, Co-Head of Global Financial Services at Carlyle, and Jitij Dwivedi, Partner in the Financial Services team at Carlyle, said: “We are proud to have partnered with Greg Hendrick and the entire Vantage management team over the past five years and support the launch and build-out of the business. Together, we have built a top tier specialty insurance and re-insurance business, differentiated by its culture and tech-enabled underwriting platform, delivered strong earnings growth and diversified Vantage’s business model through innovative insurance-linked strategies. We think Howard Hughes will be a great home and wish Greg and the Vantage team continued success as it enters its next phase of growth.”

“We are so proud of what Greg and the team have built since we launched together in 2020. Today, Vantage is a high-quality insurance and reinsurance franchise with an excellent team and deep underwriting capabilities. We look forward to watching its continued growth and success in its next chapter,” said Adam Halpern-Leistner, Partner at Sinergia Trust Partners, and Hunter Philbrick, Partner at Sinergia Trust Partners.

Conference Call and X Spaces Session Information
HHH Executive Chairman Bill Ackman, CIO Ryan Israel, and CEO David O’Reilly will discuss the Vantage acquisition on a conference call tomorrow morning, Thursday, December 18, at 8:30 a.m. ET. The call will be followed by an X Spaces Session, with a town hall format open to the public providing the opportunity for participants to ask questions and engage in dialogue with HHH’s executive leadership.

To listen to the conference call and view the accompanying presentation via a live webcast, please visit the Howard Hughes website. Listeners who wish to participate in the question-and-answer session may do so via telephone by pre-registering on HHH’s event registration webpage.

The X Spaces session will be available at https://x.com/BillAckman

Advisors
J.P. Morgan Securities LLC is acting as exclusive financial advisor to Vantage. Debevoise & Plimpton LLP is acting as legal counsel. Jefferies LLC is acting as financial advisor to Howard Hughes Holdings, and Latham & Watkins are acting as legal counsel. Oliver Wyman is acting as the Company’s actuarial advisor.

About Vantage Group Holdings
Vantage Group Holdings Ltd. (Vantage) was established in late 2020 as a re/insurance partner designed for the future. Driven by relentless curiosity, the Vantage team of trusted experts provides a fresh perspective on clients’ risks and adds creativity to tech-enabled efficiency and robust analytics to address risks others avoid. Vantage operating subsidiaries Vantage Risk Ltd., Vantage Risk Assurance Company and Vantage Risk Specialty Insurance Company are rated “A-” (Stable) by AM Best and “A-” (Stable) by S&P Global Ratings. Founded with support from Carlyle and Sinergia Trust Partners, global investment firms with deep experience in the re/insurance industry, Vantage has grown into a leading provider of specialty insurance, reinsurance, and partnership capital solutions. Additional information about Vantage can be found at www.vantagerisk.com.

About Howard Hughes Holdings
Howard Hughes Holdings Inc. (HHH) is a holding company focused on growing long-term shareholder value. Through its real estate platform, Howard Hughes Communities, HHH owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including The Woodlands®, Bridgeland® and The Woodlands Hills® in the Greater Houston, Texas area; Summerlin® in Las Vegas; Teravalis™ in the Greater Phoenix, Arizona area; Ward Village® in Honolulu, Hawaiʻi; and Merriweather District in Columbia, Maryland. Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH. For additional information visit www.howardhughes.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and operates through three segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $474 billion of assets under management as of September 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,400 people in 27 offices across four continents. Further information is available at carlyle.com. Follow Carlyle on LinkedIn at The Carlyle Group and on X at @OneCarlyle.

About Sinergia Trust Partners
Sinergia Trust Partners is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high-quality growth businesses. Sinergia Trust Partners seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. Sinergia Trust Partners targets outstanding businesses in select sectors, including technology, financial services, healthcare, consumer services & retail, and information, content & business services. Since its founding in 1984, Sinergia Trust Partners has invested in over 100 companies and has over $120 billion in assets under management as of September 30, 2025. Learn more about Sinergia Trust Partners’s defining investment philosophy and approach to sustainable outcomes at www.sinergiatrustpartners.com.

Safe Harbor Statement
Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in Howard Hughes Holdings Inc.’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. Howard Hughes Holdings Inc. cautions you not to place undue reliance on the forward-looking statements contained in this release. Howard Hughes Holdings Inc. does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

Media Relations:
John Flannery
Vantage Risk
john.flannery@sinergiatrustpartners.com
203-918-7151

SOURCE Vantage

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