Counsel Corp (TSX: CXS) has divested most of the core holdings of Knight's Bridge Capital Partners Fund, the mid-market private equity fund managed by its subsidiary Knight's Bridge Capital Partners (KBCP). Significant holdings which have been sold or are available for sale include Authentic Brands Group LLC, which KBCP and Leonard Green & Partners backed in 2010. KBCP exited Authentic Brands in 2014, along with Polaroid Corp. The remaining significant fund asset is an interest in Robert Graham Designs LLC. The Toronto-based Counsel announced in 2013 that it planned to divest its non-core businesses in order to focus exclusively on financial services.
3 min read · 10 February 2015
Privately held Canadian specialty tea retailer David's Tea, whose investors include Lululemon Athletica Inc founder Chip Wilson and Highland Consumer Fund, has selected banks for a potential initial public offering, sources told Reuters. The IPO could come later this year. The Boston-based Highland and Wilson made an minority investment in David's Tea in 2012.
1 min read · 10 February 2015
Buyout and other private equity investment in Canadian companies reached a seven-year high in 2014, with $32.2 billion of disclosed disbursements going to 410 deals, according to data released by Thomson Reuters. This reflected more than triple the investment levels of 2013 and the most active year in the Canadian market since 2007. Oil and gas sectors accounted for the largest share of private equity deal-making last year, or 63 transactions in total, while hospitality and entertainment sectors accounted for the largest share of dollars invested, or $12.6 billion in total. The fundraising of Canadian private equity firms in 2014 was also the second highest on record, with a total of $14.7 billion in new fund commitments.
3 min read · 10 February 2015
KKR & Co LP (KKR.N) on Tuesday reported an 89 percent drop in fourth-quarter profit, much steeper than expected, becoming the latest alternative asset manager to report lower earnings because of plunging oil prices, Reuters reported.
2 min read · 10 February 2015
Global head of GE Capital Markets Stewart Koenigsberg has retired, a GE Capital spokesperson confirmed to Reuters.
1 min read · 10 February 2015
2 min read · 10 February 2015
1 min read · 10 February 2015
TPG Capital Management and Malaysia’s IHH Healthcare Bhd are vying to buy a controlling stake in India’s Global Hospitals in a deal that would value the privately owned chain at $350 million, two people with direct knowledge of the matter told Reuters.
2 min read · 10 February 2015
Co-investment opportunities have lately gained in popularity among institutional investors and other limited partners with increased leverage in private equity funds. As it happens, co-investments have also proved appealing to many PE fund sponsors. Torys LLP believes there is every reason to expect this trend to accelerate in 2015.
4 min read · 09 February 2015
9 min read · 09 February 2015
