Brad Meikle

Carlyle profit falls as compensation costs rise

Private equity firm Carlyle Group LP reported an 18 percent fall in quarterly profit on April 30 as asset sales slowed and compensation costs rose.

Sun Capital to make 10x on Cornerstone sale

Sun Capital Partners, which is out fundraising, is exiting Cornerstone Research & Development after two years.

Court Square's Rocket Software to pay second dividend

Court Square Capital Partners is getting more money back from Rocket Software. The software developer is launching a $725 million loan that will be used to refinance debt and pay a dividend to Court Square and company management, according to Thomson Reuters Loan Pricing Corp.

Go Daddy to pay out $350 mln dividend

Go Daddy, the Internet domain registrar that is expected to go public later this year, is first paying out a dividend.

Swander Pace Capital raises $350 mln for Fund V

U.S. private equity firm Swander Pace Capital, which has its Canadian office in Toronto, has closed its fifth fund, SPC Partners V LP, at US$350 million. The new fund will continue to specialize in investing in growth-oriented, mid-market consumer products companies in North America and the United Kingdom. Swander Pace recently sold Ancaster, Ontario-based Pineridge Bakery Inc to Aryzta AG for US$340 million. Pineridge was bought by Swander Pace in 2007.

Energy Future files for bankruptcy

Leading Texas power company Energy Future Holdings filed for bankruptcy on April 29, seven years after its record leveraged buyout stacked it with debt just as prices for its electricity plunged.

KKR, Nasdaq plan market to trade fund stakes

Private equity firm Kohlberg Kravis Roberts & Co plans to allow investors to sell parts of their stake in buyout funds through a new private market run by Nasdaq OMX Group Inc, sister news service Reuters reported, citing the Wall Street Journal.

CIBC, buyout shops circle Russell Investments

Canadian Imperial Bank of Commerce, the fifth largest bank in Canada, and two private equity consortia are exploring offers for global asset manager Russell Investments, according to several people familiar with the matter.

Roark-backed GFL to buy two Alberta waste collection companies

GFL Environmental Inc, a portfolio company of U.S. private equity firm Roark Capital Group, has agreed to purchase two subsidiaries of Contrans Group Inc (TSX: CSS). The companies, Tri-Line Disposal Inc and Deuce Disposal Ltd, are waste collection businesses operating in Edmonton and Slave Lake, Alberta, respectively. The deal is expected to close on May 1. Financial terms were not disclosed. Based in Vaughan, Ontario, GFL is an integrated solid and liquid waste company. The acquisitions align with its strategy to be a one-stop shop for meeting liquid and solid waste needs, GFL said. In January, GFL also bought Calgary's The Garbage Company.

Mason Graphite to raise additional $4.2 mln from Québec PE funds

Mining company Mason Graphite Inc (TSX-V: LLG), which recently secured an investment from Ressources Québec, a subsidiary of Investissement Québec, has agreed to receive an additional $4.15 million in convertible debenture financing from Québec-based private equity funds. Sodémex Développement, an affiliate of the Caisse de dépot et placement du Québec, the Fonds de solidarité des travailleurs du Québec (FTQ) and the Fonds regional de solidarité FTQ Côte-Nord each will contribute to the deal. Net proceeds from all funding sources will be used by the Montréal-based company for continued development of its Lac Guéret graphite property in Québec and for other purposes.