Oil and gas company EP Energy Corp, controlled by private equity firm Apollo Global Management LLC, said it expects its initial public offering to be priced at $23-$27 per share, raising about $1.08 billion, sister news service Reuters reported.
1 min read · 07 January 2014
Carlyle Group LP is preparing to launch its first two publicly listed mutual funds, according to a regulatory filing by the latest alternative asset manager seeking to offer its investment platform to retail investors in this way, sister news service Reuters reported.
3 min read · 06 January 2014
Canadian private equity firm Clairvest Group (TSX: CVG) expects to launch its fifth partnership, Clairvest Equity Partners V (CEP V) in 2014, peHUB Canada has learned. The firm did not disclose other details concerning the fund, including its anticipated target size. Clairvest's current fund, CEP IV, has been drawn down 60 percent and 70 percent allocated, the firm reported. CEP IV, which invests in North American mid-market companies in a range of industries, was closed at $467 million in Jan. 2011.
2 min read · 06 January 2014
The IWA Forest Industry Pension Plan has named U.S.-based Northern Trust Corp (Nasdaq: NTRS) as the global custodian of its $3.1 billion pension fund. In this role, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan. Serving 70,000 members of the Canadian forest industry, IWA Forest Industry Pension Plan had 11% of its total assets in alternative investments at the end of 2012.
3 min read · 06 January 2014
In less than six months of marketing, Canadian private equity firm Ironbridge Equity Partners has completed the second close of Ironbridge Equity Partners II LP, raising $90 million in total. The fund, which is targeted at $125 million in commitments and an approximate hard cap of $150 million, completed its $50 million first closing in Sept. 2013. Ironbridge began investing new partnership capital last October when the firm made a platform investment in Mississauga, Ont.-based Frischkorn Audio-Visual Corp, a provider of audio-visual services to corporate clients. The Toronto-based Ironbridge, which is managed by seven investment professionals, focuses on lower middle-market businesses operating in a range of industries including manufacturing, distribution, and consumer and business products and services.
2 min read · 06 January 2014
Digital Payment Technologies Corp, a Burnaby, B.C.-based provider of multi-space pay stations and cloud-based enterprise software for the parking industry, is to be acquired by T2 Systems Inc, a technology-focused parking systems specialist with headquarters in Indianapolis, Indiana. The transaction, the full value of which was not disclosed, is expected to be completed in the first quarter of 2014. Digital Payment Technologies is a portfolio company of C.A. Bancorp (TSX: BKP), a Toronto-based merchant bank and alternative assets manager. Last year, C.A. Bancorp was bought by CDJ Global Catalyst LLC.
3 min read · 06 January 2014
Carlyle Group LP said that former U.S. Federal Communications Commission (FCC) Chairman Julius Genachowski would join the private equity firm as a managing director and partner on its U.S. buyout team, sister news service Reuters reported.
2 min read · 06 January 2014
Private equity fund manager Permira Advisers LLC is planning to take a controlling stake in LegalZoom.com, a provider of online legal documents that was going to go public, according to people familiar with the matter, sister news service Reuters reported.
2 min read · 06 January 2014
CHC Group Ltd, the world’s largest commercial helicopter services provider, said it expects to raise up to $529 million in an initial public offering, sister news service Reuters reported.
1 min read · 06 January 2014
Private equity firms are increasingly seeking to partner with U.S. companies rather than buying them outright, as they struggle to find ways to put their huge piles of money to work at a time when frothy markets have made takeovers expensive, reports Reuters. Major U.S. buyout shops, such as Blackstone Group LP (BX.N) and Carlyle Group LP (CG.O), are looking at deals such as minority investments in companies or partnerships with companies looking to make an acquisition -- types of transactions that they largely shunned before the financial crisis of 2008.
5 min read · 03 January 2014
