CSV Midstream Solutions Corp has entered into a strategic investment partnership with U.S. private equity firm Apollo Global Management. Under the terms of the partnership, Apollo will commit US$500 million in equity funding to support the company's construction and operation of midstream facilities in the Western Canadian Sedimentary Basin. Based in Calgary, CSV Midstream is a provider of strategies for engineering, design, construction, operation and management of natural gas and natural gas liquids assets. Update: The company is led by president and CEO Daniel Clarke.
3 min read · 28 May 2014
Parsley Energy Inc’s shares rose as much as 21.5 percent in their U.S. market debut, valuing the oil and natural gas producer at about $2.51 billion.
1 min read · 27 May 2014
Buyout group General Atlantic has chosen bidders to submit final offers for German laboratory services company Amedes by a mid-June deadline, three sources familiar with the matter said.
1 min read · 27 May 2014
The Blackstone Group LP and TPG Capital Management LP are expected to make a combined offer for Kensington, one of Britain’s biggest specialist mortgage lenders, sister news service Reuters reported, citing Sky News.
1 min read · 27 May 2014
Kohlberg Kravis Roberts & Co is nearing a deal to buy Singapore’s Goodpack Ltd, the world’s largest maker of intermediate bulk containers, which has a market value of S$1.36 billion ($1.1 billion), sources with direct knowledge of the matter said.
2 min read · 27 May 2014
New York’s top financial regulator has proposed tougher rules for private equity firms and others buying insurance companies, increasing scrutiny in a bid to protect retirees and others who typically buy annuities.
1 min read · 27 May 2014
Canadian specialty finance firm Difference Capital Financial has nominated five new members to the board of directors of Benev Capital Inc (TSX-V: BEV). The nominees, who include the firm's CEO Michael Wekerle and Relay Ventures' co-founder and managing partner John Albright, are intended to provide "fresh perspective and new leadership" and address Benev's recent changes in strategic direction. Difference Capital acquired a 28.4% interest in the company in March. The Oakville, Ontario-based Benev, which currently operates as a merchant bank, is also backed by Canadian private equity firm Second City Capital Partners.
8 min read · 27 May 2014
Montréal-based Stornoway Diamond Corp (TSX: SWY) has closed a total of $374 million in private and public financings that will support the construction of its Renard Diamond Project in the James Bay region of north central Québec. The financings are linked to a nearly $1 billion deal struck in April. As part of the overall transaction, private equity firm Orion Mine Finance Group, Ressources Québec and the Caisse de dépôt et placement du Québec will commit US$360 million, $220 million and $105 million, respectively.
10 min read · 27 May 2014
Sphere 3D Corp (TSXV: ANY), a portfolio company of Pinetree Capital, recently agreed to merge with Overland Storage Inc (Nasdaq: OVRL). Upon completion of the securities exchange deal, which will see a total consideration payable to Overland shareholders of around US$81.1 million, the combined company will become a subsidiary of Sphere 3D. Based in San Diego, California, Overland is a unified data management and data protection solutions provider. It is currently backed by U.S. private equity firm Cyrus Capital Partners. The Mississauga, Ontario-based Sphere 3D is a virtualization technology provider.
10 min read · 27 May 2014
The Canada Pension Plan Investment Board, one of the world's biggest dealmakers, said it is hard to find good deals because most assets are fully priced, but it will be patient and focus on emerging markets to find deals that offer long-term value, Reuters reported. CPPIB, which manages Canada's national pension fund, said that its assets rose to a record $219.1 billion at the end of fiscal 2014, as its investment portfolio returned 16.5 percent for the year ended March 31.
2 min read · 27 May 2014
