Neil Johnson, co-founder and former CEO of Toronto-based Difference Capital Financial, recently founded a new royalty investment firm that will bring financing solutions to diverse businesses located in Europe and elsewhere around the world. U.K.-based Duke Royalty will partner with management consultancy firm Oliver Wyman on opportunities in the pharmaceutical and healthcare-related royalty market. Johnson is the new firm's CEO.
5 min read · 11 September 2015
JELD-WEN Inc, a maker of windows and doors, has acquired Karona Inc, a manufacturer of specialty stile and rail doors based in Caledonia, Michigan. The financial terms of the deal were not published. JELD-WEN, which has its headquarters in Charlotte, North Carolina, said the acquisition, the company's third in a month, will strengthen its position in Karona's market space. JELD-WEN was acquired by Canadian private equity firm Onex Corp in October 2011. Last month, JELD-WEN was reported to be considering the launch of an initial public offering that would value it at about US$4 billion.
3 min read · 11 September 2015
Colombia's top judicial authority has approved the sale of the government's 57.6 percent stake in power generator Isagen, expected to raise at least US$1.8 billion, Reuters reported. Brookfield Asset Management was said to be one of several firms planning to bid for the company.
1 min read · 11 September 2015
Total assets of the world’s 300 largest pension funds increased by over 3 percent in 2014, according to a new research report by Pensions & Investments and Towers Watson. As a result, assets managed by these funds reached a new high of more than US$15 trillion, the report found. The Canadian Pension Plan Investment Board (CPPIB) and the Ontario Teachers' Pension Plan are among the world's 20 largest pension funds.
4 min read · 10 September 2015
A group of institutional investors active in the infrastructure market have launched GRESB Infrastructure, a sustainability benchmark for global infrastructure assets. The initiative, which is intended to allow more capital to flow into sustainable infrastructure and to raise the level of sustainability of existing infrastructure assets, involved a partnership with GRESB, an international industry association. Supporters of the new benchmark include the Alberta Investment Management Corp (AIMCo) and the Ontario Teachers' Pension Plan (OTPP).
6 min read · 10 September 2015
Freescale Semiconductor Inc (NYSE: FSL) has purchased CogniVue Corp, an Ottawa-based developer of image cognition IP for automotive and consumer applications. No financial terms were disclosed. Freescale, a designer of embedded semiconductors, said the acquisition will solidify its position in the autonomous vehicles and advanced driver assistance systems market. U.S.-based Freescale was taken private in 2006. It remains a portfolio company of Blackstone Group, the Canada Pension Plan Investment Board (CPPIB), Carlyle Group, Permira Advisers and TPG. Earlier this year, it agreed to be bought by NXP Semiconductors NV.
3 min read · 10 September 2015
CPPIB Credit Investments, a subsidiary of the Canada Pension Plan Investment Board (CPPIB), has agreed to extend a US$526 million construction-to-permanent loan to Kemper Development Co. The financing will support the 1.5 million-square-foot expansion of the Bellevue Collection, known as the Lincoln Square Expansion. The property is a mixed-use development destination located in Bellevue, Washington.
2 min read · 10 September 2015
An affiliate of Civica Group Ltd, a portfolio company of OMERS Private Equity, has bought Web Technology Group, a provider of software consultancy and services to government and other public sector organisations in the United Kingdom. No financial terms were released. Civica, a London-based provider of specialist information technology systems and business process services, said the deal will give it complementary expertise and extend its capabilities. OMERS acquired Civica from 3i Group in 2013. The deal was valued at 390 million pounds (US$604 million).
2 min read · 10 September 2015
XPO Logistics Inc (NYSE: XPO) has agreed to acquire Con-way Inc (NYSE: CNW), a U.S. provider of transportation, logistics and supply-chain management services. The deal, which is valued at about US$3.0 billion including debt, will allow XPO to become the second-largest provider of less-than-truckload services in North America, the company said. The acquisition is expected to close next month. Greenwich, Connecticut-based XPO is a portfolio company of the Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board. In June, the Canadian investors committed to US$1.26 billion in funding to back the company's acquisition program.
10 min read · 10 September 2015
Davis-Standard LLC, a portfolio company of Canadian private equity firm ONCAP, has acquired Gloucester Engineering Co Inc, an equipment manufacturing company for the blown film plastics industry. No financial terms were disclosed. Davis-Standard, a maker of extrusion and converting systems, said the deal will give it design and process engineering capabilities, a large installed base, and greater aftermarket capabilities worldwide. In late 2011, ONCAP, the mid-market investment platform of Onex Corp, acquired a majority stake in the Pawcatuck, Connecticut-based company. The investment was valued at US$110 million.
2 min read · 09 September 2015
