The Carlyle Group said its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe.
3 min read · 11 August 2014
The Riverside Company has enjoyed a lot of success since our founding in 1988 by finding great little companies and making them bigger and better. We’ve sold more than 100 companies in our history, and collectively we grew them more than 2.5x in size during our ownership. We adore smaller companies because there are more ways to improve them, making the upside much greater. It’s been a good run and we’re working harder than ever to keep it going for another 25 years in our-fast changing, hyper-competitive world.
4 min read · 11 August 2014
Canada’s ONCAP has been named to Preqin‘s global list of the most consistent performing private equity fund managers.
3 min read · 10 August 2014
U.S. mid-market private equity firm Hammond Kennedy Whitney & Co (HKW) has bought RST Instruments Ltd, a manufacturer and marketer of geotechnical measurement instruments that serve a wide variety of end markets, including oil and gas, utility, mining and infrastructure. The Maple Ridge, British Columbia-based company was acquired in a recapitalization transaction for an undisclosed amount, one of three such transactions announced by HKW. RST was represented exclusively by Deloitte in the deal. Last September, HKW invested in Calgary's Specialized Tech Inc.
2 min read · 08 August 2014
The Carlyle Group LP is preparing to break up specialty chemical company PQ Corp, after efforts to sell the company in its entirety for as much as $3 billion were not successful, according to people familiar with the matter.
2 min read · 08 August 2014
An investor group led by Canadian private equity firm Altas Partners has joined with Baring Private Equity Asia in a minority equity investment in St. George’s University (SGU), a Grenada-based international education centre that draws students and faculty from 140 countries. While the investment's value was not disclosed, sources estimate it at US$750 million. The Altas-led group, which included OPTrust Private Markets Group, partnered with SGU management, led by chancellor Charles R. Modica. The SGU deal is the second done by Altas since its 2012 launch by managing partner Andrew Sheiner. Last October, the firm bought NSC Minerals Ltd from Wynnchurch Capital.
6 min read · 08 August 2014
A federal grand jury has indicted a former CalPERS board member on charges of bribing a chief executive of the California public pension fund and faking documents to gain million of dollars in investments fees.
2 min read · 08 August 2014
A. Melissa Moye will step down as chief investment officer of the Maryland State Retirement and Pension System in August, according to a statement released by the agency.
2 min read · 08 August 2014
Canadian private equity firm Onex Corp has sold its remaining stake, totaling 8.4 million shares of common stock, in Spirit AeroSystems Holdings Inc (NYSE:SPR). Based in Wichita, Kansas, Spirit AeroSystems is a global supplier of large component parts and assemblies for commercial aerostructures. It went public in November 2006. Update: Onex bought the company for US$950 million in 2005. Since then, Onex has received aggregate proceeds of about US$3.2 billion, resulting in a multiple of capital invested of approximately 8.5 times and a return on investment of 201% per annum.
2 min read · 08 August 2014
USJ-IMECO Holding Co LLC, a portfolio company of U.S. private equity firm J.F. Lehman & Co, has purchased Joiner Systems Inc for an undisclosed amount. Based in Montréal, Joiner Systems is a designer, engineer and manufacturer of accommodation systems for commercial and government ships. USJ-IMECO, a provider of ship-related turnkey marine joiner, distributed systems and electro-mechanical systems, said the deal strengthens its presence in Canada and improves its ability to support shipyards. USJ-IMECO was previously two independent U.S.-based companies acquired by J.F. Lehman in 2011 and 2012.
2 min read · 07 August 2014
