Sweden is demanding that buyout firm EQT Partners and some of its employees pay 647 million Swedish crowns ($100 million) in tax on past profits as it cracks down on buyout firms, sister news service Buyouts reported.
2 min read · 21 August 2013
New York-based healthcare focused private equity firm OrbiMed has initiated the process to raise $300 million for its second pan-Asia healthcare fund, the investment firm disclosed in a filing with SEC. The firm is looking to complete fundraising for OrbiMed Asia Partners II within a year, according to the filing.
3 min read · 21 August 2013
Toronto-based private equity and venture capital firm Pinetree Capital said Wednesday that it has acquired a stake in LeoNovus Inc. (TSX Venture: LTV). No financial terms were disclosed. LeoNovus, which has offices in Ottawa, Ontario and Sunnyvale, Calif., is a cloud platform provider for HDTVs and other connected devices. Update: As a result of the transaction, Pinetree holds up to 11.1% of all issued and outstanding common shares of the company.
2 min read · 21 August 2013
Bi-Lo Holdings, the ninth-largest traditional supermarket chain in the United States, is planning an initial public offering later this year and has tapped banks to lead the deal, two sources familiar with the matter told sister news service Reuters.
2 min read · 21 August 2013
Silver Lake has raised $653.5 million for its Kraftwerk cleantech fund even as it has reined back the fund’s target to $750 million, according to a filing with the Securities and Exchange Commission.
2 min read · 21 August 2013
RBC Global Asset Management said Wednesday that it has named Mayur Nallamala as senior portfolio manager and head of Asian equities. Based in Hong Kong, Nallamala will be responsible for managing RBC GAM's $1.5 billion in Asian equity assets. Prior to joining RBC GAM, Nallamala worked at JP Morgan Asset Management in Hong Kong. Based in Toronto, RBC Global Asset Management is the asset management division of Royal Bank of Canada.
3 min read · 21 August 2013
U.S. private equity firm Ares Management and Ontario Teachers' Pension Plan will together acquire building supplies company CPG International Inc., writes Reuters. The seller is U.S. private equity firm AEA Investors, which bought the Scranton, Pennsylvania-based CPG in 2005. While financial terms of the deal were not disclosed, people "familiar with the matter" told Reuters in July that the CPG acquisition was worth as much as US$1.5 billion.
2 min read · 20 August 2013
Canadian mid-market private equity firm Clairvest Group has promoted Mitch Green to managing director. Joining the firm in 2002, Green has been involved in a number of Clairvest investments, including PEER 1 Network Enterprises Inc., which was acquired for $526 million by Cogeco Cable Inc. in January 2013. Green currently serves on the boards of directors of portfolio companies CRS Contractors Rental Supply and Linen King.
2 min read · 20 August 2013
OMERS Private Equity, the private equity arm of Toronto-based Ontario Municipal Employees Retirement System (OMERS), has sold Nordco Inc. to U.S. private equity firm Greenbriar Equity Group. Financial details of the transaction were not published. Nordco, an Oak Creek, Wisconsin-based supplier of highly-engineered equipment, parts and services to the rail transportation industry, was bought by OMERS from The Riverside Co. in 2009.
3 min read · 20 August 2013
Ontario Teachers Pension Plan is among a number of private equity and strategic investors that recently submitted second round bids for AHT Cooling Systems GmbH, an Austrian designer and manufacturer of industrial refrigeration and deep freezing products, reports Reuters. Sources "familiar with the matter" said bids for the company, which is owned by private equity firm Quadriga Capital, exceeded 500 million euros (US$663 million). Other potential buyers include Bridgepoint, EQT and Nordic Capital. Final round bids are due September 20th, one of the sources told Reuters.
1 min read · 20 August 2013
