Apollo European Principal Finance Fund II, a fund affiliated with U.S. private equity firm Apollo Global Management, has purchased a portfolio of 18 European hotels from Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec. The financial details of the transaction were not published. The acquired portfolio includes hotels located in France, Germany, Spain and other European countries operated under the IHG brands of Crowne Plaza, Holiday Inn, and Holiday Inn Express.
3 min read · 01 May 2014
The previously announced buy of Mega Brands Inc (TSX: MB, MB.WT, MB.NT), a Canadian manufacturer of construction toys, games, puzzles and crafts, by U.S.-based Mattel Inc (Nasdaq: MAT) has been closed. The deal valued Mega Brands at US$460 million, including debt. Mattel said the acquisition represents one of the key avenues for achieving its global growth strategy. Mega Brands, which will continue to be based in Montréal, was a portfolio company of Fairfax Financial Holdings Ltd and has in the past been backed by U.S. private equity firm The Blackstone Group.
6 min read · 01 May 2014
Five private equity firms are looking at the generic drug maker VersaPharm, which is being sold by Tailwind Capital, two sources said.
1 min read · 01 May 2014
The U.S. Securities and Exchange Commission is investigating whether private equity fund advisers are illegally charging fees that are not disclosed to investors, the agency’s top enforcement chief said.
3 min read · 01 May 2014
DNA Precious Metals Inc (OTCQB: DNAP) said Thursday that it has completed a credit facility of $500,000 from an unnamed Chicago-based private equity firm. According to DNA, the capital will be used to help finance a production facility for the processing of Anacon Lead mining residues on the Montauban mine property. Headquartered in Saint-Léonard, Québec, DNA is an exploration-stage mining producer. Update: In February, the company announced it had received a credit facility of up to $10 million from the private equity firm.
2 min read · 01 May 2014
Despite recent volatility in some regions, LPs view emerging markets as a key part of their private equity portfolios, according to a new survey by the Emerging Markets Private Equity Association. LPs plan to increase exposure to emerging markets over the next two years, especially in regions like Latin America and Southeast Asia, says EMPEA’s Global Limited Partners Survey 2014. EMPEA also announced the launch of its Limited Partners Council to help guide its research and educational offerings. Members include Pierre Fortier of the Caisse de dépôt et placement du Québec and Jesus Arguelles of Ontario Teachers’ Pension Plan.
3 min read · 30 April 2014
Canadian energy-focused private equity firm ARC Financial Corp has appointed Jackie Forrest as vice president. She will work with the firm's research team. Forrest is a 15-year veteran of the energy industry, and was most recently the leader of North American crude oil research for IHS CERA. Based in Calgary, ARC Financial manages $3.7 billion of capital across its seven ARC Energy Funds.
2 min read · 30 April 2014
Reliance Protectron Inc, a monitored security services provider, has agreed to be bought by ADT Corp (NYSE: ADT). The acquisition price is $555 million. The seller in the transaction is Alinda Capital Partners, a U.S. private equity firm specializing in infrastructure. A subsidiary of Reliance Comfort LP, Reliance Protectron became a portfolio company of Alinda following the latter's take-private acquisition of UE Waterheater Income Fund for $1.74 billion in 2007. Upon closing of the deal this summer, ADT said that Reliance Protectron will retain its brand name and continue to be headquartered in Montréal. Based in Boca Raton, Florida, ADT is home security provider.
4 min read · 30 April 2014
Elkhorn Resources Inc has been bought by Vermilion Energy Inc (TSX, NYSE: VET) for approximately $427 million, including the assumption of debt. The acquired assets comprise high netback, light oil producing assets in the Northgate region of southeast Saskatchewan. Founded in 2009, the Calgary-based Elkhorn has been a portfolio company of a number of Canadian private equity firms, including JOG Capital, Longbow Capital and SaskWorks Venture Fund, which is managed by PFM Capital. With headquarters in Calgary, Vermillion is an oil-leveraged producer that acquires, explores, develops and optimizes properties in Western Canada, Europe and Australia.
3 min read · 30 April 2014
Institutional investors may be over their love affair with co-mingled funds of funds. But that hasn’t stopped the industry’s pioneers from launching new ones, even as they continue diversifying into separate accounts, co-investments, secondaries and other products.
5 min read · 30 April 2014
