Wayfair Inc’s shares rose as much as 27 percent in their market debut on Thursday, Oct. 2, valuing the online home furnishings retailer at about $3.06 billion, according to sister news service Reuters.
2 min read · 13 October 2014
While there is buzz that the asset class is becoming mature and efficient, deal sourcing, one of the most critical components of a private equity firm’s success, is becoming tougher. This means there is greater opportunity than ever for outperformance on a relative basis by sponsors that are better at business development.
3 min read · 13 October 2014
Canadian energy company Seven Generations Energy hopes to raise around $800 million from its initial public offering (IPO), according to documents filed with SEDAR. The Calgary-based company, which is backed by Canadian and U.S. private equity firms, anticipates an offering price of between $17 and $21 per common share on the Toronto Stock Exchange.
2 min read · 10 October 2014
Excelsior Mining Corp (TSXV: MIN) announced the completion of the first tranche of a US$10 equity financing provided by British private equity firm Greenstone Resources. The second tranche is scheduled to close later in October, with the result that Greenstone will hold approximately 28.2 percent of the company's issued and outstanding common shares. Headquartered in Vancouver, Excelsior is a mineral exploration company focused on its Gunnison Copper project in Arizona. Proceeds of the partnership with Greenstone will be used to further develop that project.
5 min read · 10 October 2014
Daryl Gilbert, a managing director at Canadian energy private equity firm JOG Capital, has been appointed to the board of directors of Connacher Oil and Gas Ltd (TSX: CLL). Gilbert, who joined JOG in 2008, previously worked at Canadian petroleum engineering company GLJ Petroleum Consultants Ltd. Based in Calgary, Connacher is an exploration, development and production company active in the production and sale of bitumen.
2 min read · 10 October 2014
The Caisse de dépôt et placement du Québec is among a number of banks, government agencies, institutional investors and private equity firms that have joined or may join a new initiative by World Bank Group to leverage more investments in infrastructure in emerging markets and developing economies. The Global Infrastructure Facility (GIF) has been launched as a platform for partnerships to make public-private infrastructure projects viable for new sources of private capital. The World Bank said the GIF is needed to help grow investments in infrastructure in developing countries to US$1 trillion annually through 2020.
4 min read · 10 October 2014
Unfavorable terms and conditions and higher valuations on buyouts may prompt the Oregon State Treasury to reduce its allocation to private equity, the state’s chief investment officer said.
4 min read · 10 October 2014
The Blackstone Group said on Friday, Oct. 10 that it would spin off its M&A, restructuring and private equity fundraising advisory businesses and combine them with the financial advisory firm of Morgan Stanley veteran Paul Taubman, in a move to avoid conflicts, according to news service Reuters.
2 min read · 10 October 2014
Canadian private equity firm Ironbridge Equity Partners has sold its portfolio company Frost Fighter Inc for an undisclosed amount. The buyer in the deal was Headwater Equity Partners, a Vancouver-based mid-market private equity firm founded in 2012 by senior investment professionals who previously worked for HSBC Capital. Headquartered in Winnipeg, Manitoba, Frost Fighter is a manufacturer of temporary portable heating solutions used in harsh weather environments. Its products are used in a range of North American industries. Ironbridge acquired the company in partnership with management in 2011.
2 min read · 09 October 2014
IDI Gazeley, a.k.a. Brookfield Logistic Properties, has acquired three class-A logistics warehouse assets in Europe totaling 1,000,000 square feet (97,400 square metres). The financial terms of the transaction were not disclosed. The portfolio of assets are located in Germany, France and Italy. The U.K.-based IDI Gazeley was last year purchased by commercial real estate platform Brookfield Property Partners, an affiliate of Toronto-based Brookfield Asset Management, from a unit of state-owned Dubai World.
2 min read · 09 October 2014
