Dream Industrial REIT (TSX:DIR.UN) has agreed to acquire portfolios totaling 1.35 million square feet of industrial properties for approximately $128 million. The deal, which is expected to close in September, includes 1.1 million square feet of single and multi-tenant light industrial properties in Calgary, Toronto and Montréal being sold by Canadian real estate-focused private equity firm KingSett Capital. The deal involving the Toronto-based KingSett is valued at $94.7 million. Founded in 2020, KingSett says it has completed $16 million of transactions.
6 min read · 15 August 2014
Investor William Ackman has been joined by several top hedge funds, including Paulson & Co, York Capital Management and Viking Global Investors, that have made bets on takeover target Allergan Inc, Reuters reported. New regulatory filings give the first look at Allergan's redrawn shareholder map since Ackman and deal partner, Laval, Québec-based Valeant Pharmaceuticals Inc, made public their US$49 billion pursuit of the Botox maker in late April.
3 min read · 15 August 2014
An investment memo prepared by staff at the San Francisco Employees’ Retirement System indicates that Hellman & Friedman may close its latest mega-buyout fund as early as September. The retirement system’s board approved a commitment of up to $50 million to Hellman & Friedman Capital Partners VIII at its Aug. 13 meeting, Commission Secretary Norm Nickens told Buyouts.
2 min read · 15 August 2014
Teachers’ Private Capital, the private equity investment arm of the Ontario Teachers’ Pension Plan, has agreed to buy a significant, undisclosed minority interest in Lowell Group Ltd. One source has reported that Teachers will acquire more than 35 percent of the Leeds, United Kingdom-based business, which is focused on consumer debt purchase and recovery. In 2011, Lowell was acquired by British private equity firm TDR Capital. The company said current investors, which include TDR, will remain shareholders, with each selling a proportionate amount of their current holding. Canadian law firm Torys LLP represented Teachers in the deal.
4 min read · 14 August 2014
Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, plans to invest more than $60 million in the CrossIron Mills shopping centre in Rocky View County, north of Calgary. Ivanhoé said it was expanding the regional shopping destination, which features more than 200 retailers, in response to Calgary's substantial population growth. CrossIron Mills was built in 2009.
3 min read · 14 August 2014
Canada Pension Plan Investment Board (CPPIB) has allocated an additional US$500 million to the Goodman North American Partnership (GNAP), a joint venture formed in 2012 between CPPIB and Goodman Group to invest in logistics and warehouse facilities in major U.S. markets. CPPIB's allocation to GNAP now totals US$900 million, representing a 45 percent interest, and Goodman's allocation now totals US$1.1 billion, representing a 55 percent interest. To date, GNAP has committed to six development projects located in California and is actively pursuing opportunities in the same state, as well as in New Jersey and Pennsylvania.
3 min read · 14 August 2014
An Indianapolis church has alleged that JPMorgan Chase & Co mismanaged trust accounts held for its benefit by investing in high cost, risky investments that advanced the firms’ interests over its own, according to a lawsuit filed in Indianapolis federal court.
2 min read · 14 August 2014
The State of Wisconsin Investment Board committed $405 million to private equity during the second quarter, a total that included several allotments to small and mid-market managers as it repositions its portfolio away from mega-buyouts, according to documents released to Buyouts
3 min read · 14 August 2014
WordLogic Corp has received a financial commitment to purchase exclusive rights to its legal enterprise solutions for North America. The licensing will be to an unidentified U.S. private equity firm based in Virigina, the company said. The terms include a $1 million payment, 10 percent royalty on all sales and 15 percent annual software maintenance fee on all sales. Based in Vancouver, WordLogic develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input.
2 min read · 13 August 2014
Aimia Inc, a Montréal-based loyalty management company and the owner and operator of Aeroplan, has made a minority equity investment in Fractal Analytics, a provider of advanced analytics. The amount of the investment was not disclosed. Aimia said the investment is part of a strategic partnership with Fractal that will realize several benefits, including deepened analytics capabilities for Aimia and the extension of its loyalty expertise to Fractal's clients. Founded in 2000, Fractal has corporate offices in Guragon, India, London and New Jersey. In June 2013, U.S. technology-focused private equity firm TA Associates made a US$25 million investment in the company.
4 min read · 13 August 2014
