Spain's Grupo Villar Mir and Portuguese utility Energias de Portugal (EDP) have emerged as potential buyers for German utility E.ON's Spanish assets, people familiar with the process told Reuters. EDP is teaming up with Borealis Infrastructure, an investment arm of the Ontario Municipal Employees Retirement System (OMERS). The Spanish operations could fetch between US$1.1 billion and US$2.7 billion, depending on whether E.ON sells the whole business or only individual assets.
2 min read · 16 July 2014
The Public Employee Retirement System of Idaho plans to commit between $175 million and $250 million to private equity in 2014, according to documents presented by advisory firm Hamilton Lane at the retirement system’s July 15 meeting.
2 min read · 16 July 2014
Kohlberg Kravis Roberts & Co’s co-founders Henry Kravis and George Roberts have indicated they intend to stay at the buyout firm for at least five more years, but two men—Scott Nuttall and Joseph Bae—are emerging as front-runners to succeed them eventually.
6 min read · 16 July 2014
Adams Street Partners Chief Investment Officer Hanneke Smits has decided to step down, the firm announced in a statement on Tuesday. She will remain in her role through at least the end of 2014, at which point she will take a career break to focus on “a new series of challenges to support a variety of interests.”
2 min read · 15 July 2014
Canadian resource-focused private equity firm Sprott Resource Corp has agreed to invest US$33.4 million in Corsa Coal Corp (TSX-V: CSO), acquiring 19.9 percent of the company's outstanding shares. The investment is intended to fund Corsa's strategic acquisition of metallurgical coal producer PBS Coals Ltd, a former Sprott Resource portfolio company, for US$60 million. Other investors in the Toronto-based Corsa include U.S. private equity firm Quintana Capital Group and Vancouver's The Lundin Group. Following the PBS acquisition, the company will become primarily a metallurgical coal producer with principal operating assets in Pennsylvania and Tennessee.
6 min read · 15 July 2014
Hardy Capital Partners, a merchant bank established by Roger Hardy, founder and former CEO of Coastal Contacts Inc, has acquired ShoeMe.ca, an online footwear retailer, for an undisclosed amount. The Vancouver-based ShoeMe.ca will be combined with another acquisition, U.S.-based OnlineShoes.com, to form a new retail footwear business with headquarters in Canada. Earlier this year, online eyewear provider Coastal Contacts was acquired by Essilor International SA for $430 million. The company was in the past backed by Canadian private equity firm Vancity Capital Corp.
3 min read · 15 July 2014
In a reorganization, Canadian independent holding company Dundee Corp has carved out a new merchant banking division to be led by Ned Goodman. Along with serving as chairman of the firm's board of directors, Goodman will head up merchant banking activity and its more than $600 million of invested capital focused on resources, real estate, precious metals, oil and gas and agriculture. Dundee has its headquarters in Toronto.
2 min read · 15 July 2014
Drug capsule maker Capsugel is refinancing $1 billion of leveraged loans in a deal that also finances a $400 million dividend payment to its private equity owner Kohlberg Kravis Roberts & Co, banking sources said.
1 min read · 15 July 2014
Private equity portfolios overseen by two of California’s largest public pensions generated approximately 20 percent returns through the first three quarters of the fiscal year ending June 30, according to data released on July 14.
2 min read · 15 July 2014
Imperial Parking Corp, a portfolio investment of Ontario Teachers' Pension Plan, has acquired the assets of Pacific Parking Management, a parking management company based in San Francisco. The financial terms of the transaction were not disclosed. The acquisition adds new facilities to Imperial Parking's current portfolio in the Bay Area, where it is a leading operator. Based in Vancouver, Imperial Parking was in 2011 bought by Ontario Teachers from a joint venture that included U.S. private equity firm Gates Group Capital Partners.
2 min read · 14 July 2014
