Urbanimmersive Technologies Inc has secured a convertible debenture investment totaling $150,000. The funding was provided by the Caisse de dépôt et placement du Québec, and if conversion rights under the debenture are exercised, the pension fund manager will now own about 13.5 percent of the company's common shares outstanding. Founded in 2007, Urbanimmersive is focused on developing Web and 3D immersive technologies for the real estate market. It has its headquarters in Laval, Québec.
2 min read · 21 July 2014
The Canada Pension Plan Investment Board (CPPIB) has agreed to invest approximately 376 million euros ($546 million) to acquire a 39 percent stake in the Interparking Group, a European car park management company. A CPPIB subsidiary, CPP Investment Board European Holdings S.ar.l, will the buy the stake from AG Real Estate, taking the latter's holdings to 51 percent. AG Real Estate is a subsidiary of Belgian insurance company AG Insurance. Based in Brussels, Interparking has operations in nine countries and a portfolio of 657 car parks in 350 cities.
3 min read · 18 July 2014
Shareholders in Formula One, including private equity fund CVC Capital Partners, are set to share a US$1 billion dividend thanks to a refinancing of the high-profile motor sport business, Reuters reported. CVC is the largest shareholder in Formula One with a stake of around 35 percent after investing in the sport eight years ago. In 2012, Canada Pension Plan Investment Board (CPPIB) agreed to provide the business with approximately $400 million in debt financing.
1 min read · 18 July 2014
Canadian private equity firm Waterton Global Resource Management has raised its offer to buy an increased interest in Chaparral Gold Corp (TSX: CHL). The previous acquisition price of $0.50 per share has been raised by Waterton to $0.55 in per share, or about $64.7 million in total, according to a report by the Canadian Press. Shareholders representing around 27 percent of Chaparral's issued and outstanding shares, including Waterton, have indicated that they intend to tender their shares to the revised offer. Based in Scottsdale, Arizona, Chaparral is a precious metals producer focused on projects in Nevada.
5 min read · 18 July 2014
The University of Michigan Board of Regents committed $74.5 million across five venture capital funds and a private equity vehicle at its July 17 meeting, spokesman Rick Fitzgerald told Buyouts.
2 min read · 18 July 2014
The Blackstone Group, Kohlberg Kravis Roberts & Co and TPG Capital are in talks to settle a U.S. lawsuit accusing them of conspiring not to outbid each other and other buyout firms on takeovers of companies, two people familiar with the matter said.
2 min read · 18 July 2014
Japan’s public pension fund has hired a London-based private equity executive for its investment committee, as Prime Minister Shinzo Abe aims to make the fund more capable of riskier investments and less concentrated in government bonds.
2 min read · 18 July 2014
Canadian private equity firm KERN Partners has launched its fourth energy-focused partnership, KERN Energy Partners IV Fund, according to people with knowledge of the situation.
4 min read · 17 July 2014
The Public Sector Pension Investment Board (PSP Investments) reported an overall 16.3 percent return on investment for the fiscal year ended March 31, bringing total assets to a record $93.7 billion. The Montréal-based pension fund manager said performance owed to strong results in public markets as well as alternative assets, including private equity, renewable resources and infrastructure. PSP Investments' private equity portfolio, which currently accounts for 9 percent of total assets, showed an especially robust 24 percent return in fiscal year 2014. That performance improved on private equity's 16 percent return in fiscal year 2013.
3 min read · 17 July 2014
The Blackstone Group, the world’s largest alternative asset manager, said its quarterly earnings jumped 89 percent as private equity profits soared, marking its best second quarter ever.
2 min read · 17 July 2014
