After a year on the fund-raising trail, Toronto-based buyout firm Imperial Capital Group has exceeded the $250 million target set for its fifth fund, Imperial Capital Acquisition Fund V, peHUB Canada has learned. That’s double the capital committed to the firm’s previous fund, which closed in 2009. And with considerable commitments still outstanding, Fund V's final close, due before the end of 2013, is likely to be nearer to $300 million.
4 min read · 23 September 2013
After a year on the fund-raising trail, Toronto-based buyout firm Imperial Capital Group has exceeded the $250 million target set for its fifth fund, Imperial Capital Acquisition Fund V, sister publication peHUB Canada has learned. That’s double the capital committed to the firm’s previous fund, which closed in 2009.
3 min read · 23 September 2013
Huge demand for leveraged loans from billions of dollars flowing into U.S. loan funds has pushed covenant-lite loan volume to a record $188.7 billion, far surpassing the record of 2007, and still going strong, sister news service Reuters Loan Pricing Corp reported.
3 min read · 20 September 2013
Dell Inc and Hilton Worldwide look set to fund their management buyout and refinancing at significantly lower financing costs than expected following particularly strong demand for their leveraged loans, sister news services Reuters Loan Pricing Corp and IFR reported.
3 min read · 20 September 2013
The private equity division of Brookfield Asset Management has agreed to sell through a secondary offering part of its investment in Vancouver-based lumber manufacturer Western Forest Products Inc (TSX:WEF). Under the agreement, Brookfield will dispose of 40,000,000 units at a price of $1.45 per unit. Upon completion of the transaction, the Toronto-based Brookfield will continue to hold approximately 49% of the company's common shares. Western Forest Products was formed in 2004 as a result of Brookfield's acquisition of the bankrupt Doman Industries Ltd.
5 min read · 20 September 2013
Bonnefield Financial, a private equity firm that invests in Canadian farmland, announced semi-annual results for its first and second funds. Bonnefield Canadian Farmland LP I has shown a 61.29 per cent cumulative return since its inception in 2010, while Bonnefield Canadian Farmland LP II has shown a 5.4 per cent cumulative return on initial investments made since its inception in January 2013. The firm in July reported raising $100 million in commitments for its third partnership, targeted at $200 million.
2 min read · 20 September 2013
Bain Capital and the Caisse de dépôt et placement du Québec have agreed to dispose of a portion of their holdings in Valcourt, Québec-based Bombardier Recreational Products Inc (BRP, TSX: DOO). Through a secondary offering, Bain and the Caisse will sell 8,000,000 subordinate voting shares of the company for around $222.8 million. BRP, which develops, manufactures and distributes power-sports vehicles, was acquired in 2003 by Bain, the Caisse and members of the Bombardier family. The company completed an initial public offering on the Toronto Stock Exchange in May 2013.
4 min read · 20 September 2013
Stone Point Capital isn’t wasting time. The financial services-focused PE firm is talking to investors about its sixth buyout fund, according to four private equity and placement sources, sister publication peHUB reported.
2 min read · 20 September 2013
U.S. Spanish-language broadcaster Univision Communications Inc has in recent weeks held discussions with banks about an initial public offering, according to three people familiar with the matter, as strong stock markets encourage private equity owners to seek exits for their portfolio companies, sister news service Reuters reported.
2 min read · 20 September 2013
Brookfield Asset Management is seeking assets in Europe to take advantage of an expected wave of sales, and also sees opportunities in Latin America and in the hard-hit commodity sector, the company's chief financial officer, Brian Lawson, said on Wednesday. Toronto-based Brookfield, which manages more than $175 billion, has spent the last five years bulking up on energy, U.S. real estate and emerging markets infrastructure assets.
2 min read · 19 September 2013
