Fairfax Financial Holdings Ltd was seeking over $1 billion in equity investments from institutional investors to back its preliminary $4.7 billion plan to acquire BlackBerry Ltd, the Globe and Mail reported on Wednesday. Citing unnamed people familiar with the discussions, the newspaper said Fairfax Chief Executive Prem Watsa has personally contacted several leading Canadian and U.S. pension and private equity funds to win support for the bid to buy the struggling smartphone maker. But the sources said that as of Tuesday, only one pension fund, the Ontario Teachers’ Pension Plan, was seriously considering joining a potential takeover consortium.
1 min read · 25 September 2013
Grand Challenges Canada, which is funded by the Canadian government, is one of a number of investors that have committed an initial US$94 million to the Global Health Investment Fund (GHIF), an initiative intended to finance late-stage global health technologies to fight challenges in low-income countries. Structured by JPMorgan Chase & Co. (NYSE: JPM) and the Bill & Melinda Gates Foundation, GHIF will be managed by LHGP Asset Management, a London, U.K.-based asset manager specializing in sustainable development.
6 min read · 24 September 2013
Edmonton, Alberta-based Isotechnika Pharma Inc (TSX: ISA) has completed its previously announced merger with Aurinia Pharmaceuticals Inc. The new company, which is focused on pharmaceuticals targeted to the global nephrology market, will conduct business as Aurinia Pharmaceuticals. The merger was facilitated by a $6 million investment by Canadian venture capital firm Lumira Capital, merchant bank Difference Capital, ILJIN Life Science Co. Ltd., and other investors. Benjamin Rovinski, managing director of Lumira, has joined Aurinia's board of directors.
6 min read · 24 September 2013
Europe’s biggest bathroom equipment maker Grohe may launch an initial public offering (IPO) as early as Thursday if its private equity owners fail to agree an approximate $4 billion sale by then, two people familiar with the matter said, Reuters reported.
2 min read · 24 September 2013
Ironbridge Equity Partners has raised approximately $50 million for the first closing of its second private equity fund. Backed by a number of investors that include Northleaf Capital Partners, the fund's target is $125 million. Elm Capital is the fund's placement agent. Based in Toronto, Ironbridge is a private equity firm that focuses on Canadian lower middle-market companies operating in a broad range of industries. Update: The other backers of Ironbridge Equity Partners II LP include two chartered banks and a large life insurance company.
2 min read · 24 September 2013
U.S. hamburger chain Checkers Drive-In Restaurants Inc is preparing for an initial public offering later this year, according to three sources familiar with the matter, sister news services Reuters and peHUB reported.
1 min read · 24 September 2013
The creditors of Energy Future Holdings, at odds over how to split the company’s equity in an expected bankruptcy, have discussed using a tool that would bolster the payout to one creditor group if the company meets certain performance goals, according to two people close to the talks, Reuters reported.
2 min read · 24 September 2013
Catterton Partners, the consumer-focused private equity firm behind the successful Noodles & Co. IPO, said this month it closed two funds that raised a combined $2.1 billion, sister publication peHUB reported.
2 min read · 24 September 2013
The Maryland State Retirement and Pension System has committed $40 million to New MainStream Capital’s latest fund, according to a spokesman, sister publication peHUB reported.
1 min read · 24 September 2013
Private equity firms Thoma Bravo, Blackstone Group in partnership with Advent International and Corsair in partnership with Flexpoint Ford LLC have submitted bids for Munder Capital Management in a deal that could be valued at up to $400 million, a number of sources told Reuters.
1 min read · 23 September 2013
