Canadian buyout firm Onex Corp said it would buy Swiss packaging group SIG Combibloc Group AG for up to 3.57 billion euros (US$4.43 billion), Reuters reported. An additional payment of up to 175 million euros will be payable based on SIG's financial performance in 2015 and 2016, the private equity firm said. The deal is expected to close early next year.
1 min read · 24 November 2014
Canadian miner Nevsun Resources Ltd said it is not aware of any bid for the company, responding to a report that mining fund QKR Corp was preparing to making a bid, Reuters reported. Bloomberg said QKR Corp, which is backed by Qatar Holding LLC and Kulczyk Investments, is close to making an offer of about US$1 billion.
1 min read · 21 November 2014
Caledon Capital Management has snapped up Stephen Dowd as it newest partner. Dowd was formerly a senior vice president at Ontario Teachers' Pension Plan. Joining the pension fund in 2006, he led its infrastructure and timberlands group from 2007 to 2013. In an interview with peHUB Canada, Dowd said he hopes to apply what he learned at Ontario Teachers' to his new role at Caledon.
2 min read · 21 November 2014
Canadian renewable power investor Brookfield Renewable Energy Partners has agreed to buy a 488 megawatt renewable energy portfolio in Brazil from Energisa S.A. The acquisition includes hydro, wind and biomass portfolio assets. The deal, which is expected to close in early 2015, reflects a purchase price of $R1.4 billion (US$545 million). Brookfield Renewable said it will acquire and fund the transaction with its institutional partners and maintain an economic interest in the portfolio of around 40 percent.
5 min read · 21 November 2014
Alberta Investment Management Corp (AIMCo) has appointed Kevin Uebelein as its new CEO, replacing Dr. Leo de Bever, who in April flagged plans to retire. Uebelein, previously the president and CEO of Pyramis Global Advisors, a division of U.S. mutual fund and financial services firm Fidelity Investments, will assume his new role in January 2015. Based in Edmonton, AIMCo manages more than $75 billion in assets on behalf of 27 pension, endowment and government funds in Alberta. Its first CEO, de Bever has led the organization since 2008.
3 min read · 21 November 2014
Canada Pension Plan Investment Board (CPPIB) has deployed a further US$400 million in equity to the Goodman China Logistics Holding (GCLH) joint venture. Its partner in the joint venture, Goodman Group, also allocated an additional US$100 million. GCLH now has a total of US$2 billion to invest in and develop logistics properties across mainland China. At the end of September, the joint venture had invested in 27 logistics projects in 10 Chinese markets, including Shanghai, Beijing, Tianjin, Kunshan, Chengdu, Suzhou and Jiaxing.
3 min read · 21 November 2014
Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada's second-largest pension fund closes a US$2.25 billion deal to buy a landmark Manhattan property, Reuters reported. The deal by Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, and U.S.-based Callahan Capital Properties, to buy the 42-storey 1095 Avenue of the Americas building in Manhattan from Blackstone Group has not yet closed, sources said, but a final announcement should be made in the weeks ahead.
2 min read · 20 November 2014
Brookfield Asset Management Inc said it was abandoning an earlier offer to buy the shuttered Revel Casino Hotel in Atlantic City, Reuters reported. The US$110 million deal fell apart due to bondholders of ACR Energy Partners LLC and South Jersey Industries refusing to negotiate the costs related to an energy provision agreement, a source said.
1 min read · 20 November 2014
Northleaf Capital Partners has hired Edgar Haryanto to its infrastructure team as an associate. Previously with the infrastructure advisory group at Brookfield Financial, a division of Brookfield Asset Management, Haryanto will focus on deal sourcing, structuring and executing, market research, transaction diligence and asset management activities. Update: Based in Toronto, Northleaf is a global private markets investor that manages over $6 billion in commitments.
1 min read · 19 November 2014
Buyout firms KKR & Co LP and Clayton, Dubilier & Rice LLC have teamed up to take PetSmart Inc private for more than $7.5 billion, people familiar with the matter told Reuters news service, as the auction for the pet food retailer heats up.
2 min read · 18 November 2014
