Canadian private equity firm Annapolis Capital confirmed that it has to date secured $200 million in commitments for its seventh partnership, Annapolis Energy Fund VII LP. That’s effectively two-thirds of the way to the fund’s $300 million hard-cap target — a target that should be met no later than the fall of 2014. In that event, Fund VII will close at double the capitalization of Fund VI (2011). That’s quite an achievement for the young Calgary-based firm, founded in 2006 by managing partners Peter Williams and Jody Forsyth. And it augers well for a domestic oil and gas sector that has hefty investment spending requirements over the long run but relatively few sources of risk financing.
5 min read · 17 March 2014
The Orange County Employees’ Retirement System, which has about $11 billion in assets under management, along with the CIOs of smaller pension funds around California, is looking for a firm to run a private equity fund of funds that is intended to include capital from a consortium of small- to mid-sized institutions, sister website peHUB reported.
3 min read · 14 March 2014
In just three years, H.I.G. Capital has recouped more than its investment in Cornerstone Chemical Co, sister website peHUB reported.
2 min read · 14 March 2014
In just three years, H.I.G. Capital has recouped more than its investment in Cornerstone Chemical Co, sister website peHUB reported.
2 min read · 14 March 2014
The Carlyle Group, along with other investors, has agreed to acquire a majority stake in metals trader Traxys Group, sister news service Reuters reported, in the latest move by the U.S. private equity firm to boost its presence in commodities as big banks scale back.
2 min read · 14 March 2014
Former Harvard private equity honcho Peter Dolan appears to have found a permanent home, sister website peHUB reported.
2 min read · 13 March 2014
Chobani‘s sale of a minority stake likely will attract larger buyout shops, sources told sister website peHUB.
2 min read · 13 March 2014
Peter Thomas, founder and chairman of Thomas Franchise Solutions, a U.S. growth investor in private early and expansion-stage franchise businesses, has bought the Canadian rights to Spa810. The financial terms of the transaction were not disclosed. Spa810, a Scottsdale, Arizona-based laser, skin and massage specialist, currently has more than 30 corporate and franchise locations. As a result of the acquisition, Spa801 regional developer and franchise opportunities will be offered by Thomas Franchise Solutions Canada Ltd. Thomas Franchise Solutions opened a Canadian office in December 2013.
3 min read · 13 March 2014
Montréal professional services consultant WSP Global is in acquisition-based growth mode. And the public company's two largest investors, the Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board, are once again stepping up to help fund its deal-making. WSP has announced plans to buy Focus Corp, a Calgary-based provider of engineering and geomatics services to clients in the oil and gas industry. The price tag: just over $366 million. To finance the transaction, WSP will rely in part on the Caisse de dépôt and CPPIB, to make a private investment totaling $80 million.
2 min read · 13 March 2014
The Singer sewing machine company, largely credited with helping develop the U.S. fashion industry by allowing clothes to be made more cheaply and efficiently, is exploring a sale that could fetch more than $500 million, three people familiar with the matter told sister news service Reuters.
1 min read · 13 March 2014
