Ivanhoé Cambridge, the real estate investment arm of pension fund manager the Caisse de dépôt et placement du Québec, will acquire a 50% interest in Place Ville Marie, an iconic office tower in downtown Montréal, for $400 million. The interest being purchased has been held by clients of Alberta Investment Management Corp. Ivanhoé also plans to invest more than $100 million in a revitalization program for Place Ville Marie.
4 min read · 14 August 2013
Toronto-based startup Flixel Photos Inc., a developer of software that allows users to combine features of video and photos, has secured $770,000 in financing from the Canadian Media Fund and high net wealth investors. The transaction, which was arranged by Cranson Capital Securities Inc., follows an undisclosed investment made in Flixel Photos earlier in August by Fierce Capital, the venture capital investment arm of U.S. fashion company The Tyra Banks Co. Funding will be used to enhance the company's software application and increase marketing initiatives.
3 min read · 14 August 2013
As it considers going private, Waterloo, Ontario-based smartphone maker BlackBerry Ltd. is expected to draw interest from technology companies, buyout firms and Canadian pension funds, reports Reuters. Sources "familiar with the situation" said some of the world's largest private equity firms, including Bain Capital, Carlyle Group and Kohlberg Kravis Roberts, may look at Blackberry if a sales process is launched. Leo De Bever, head of Alberta Investment Management Corp., said some of Canada's largest pension funds, including his own, may also consider potential deals. The fate of the company may nonetheless "rest in the hands" of its largest shareholder, Fairfax Financial Holdings Ltd., writes Reuters.
1 min read · 14 August 2013
Toronto-based specialty finance firm Wellington Financial LP has provided US$2 million in venture debt financing to Salsa Labs Inc., a developer of an online platform for nonprofit fund-raising, advocacy and outreach. The Washington, D.C.-based Salsa has been backed by U.S. venture capital firm Edison Ventures since 2011. In April, Wellington closed its fourth growth capital and venture debt partnership, Wellington Financial Fund IV, at $200 million.
3 min read · 14 August 2013
BATS Global Markets said on Wednesday that private equity firms Spectrum Equity and TA Associates acquired minority stakes in the U.S. and European exchange operator from Lehman Brothers Holdings Inc, Reuters news service reported.
1 min read · 14 August 2013
1 min read · 14 August 2013
Toronto-based Mega Uranium Ltd. (MGA.TO), a mineral resources company focused on uranium properties, has agreed to sell its Lake Maitland Uranium Project in Western Australia to Toro Energy Ltd. (TOE:AX). Upon completion of the transaction, the company will own approximately 28% of the issued and outstanding shares of Toro, an Adelaide, Australia-based uranium business. Mega Uraninum is a portfolio investment of Canadian private equity firm Pinetree Capital.
8 min read · 14 August 2013
Tricon Capital Group, a Canadian private equity firm focused on the real estate sector, has completed its previously-announced acquisition of a 68.4% interest in Tricon IX LP, a US$332 million U.S. distressed residential development fund managed by the firm. The net purchase price was approximately US$261 million. Tricon has its headquarters in Toronto.
3 min read · 14 August 2013
The Sentient Group, a natural resources-focused private equity firm based in the Cayman Islands and with an office in Montréal, has made a US$7.1 million investment in Marengo Mining Ltd., an Australian copper and gold mining company with mineral exploration assets in Papua New Guinea. Marengo has been a portfolio company of Sentient Group since 2009. The company also has a Toronto address, and is listed and traded on the Toronto Stock Exchange.
2 min read · 14 August 2013
Renewable power producer Pattern Energy Group LP, which has its headquarters in San Francisco and its Canadian office in Toronto, has filed for an initial public offering to raise up to US$345 million, reports Reuters. The company owns and operates wind power projects, and has an interest in eight projects located in the United States, Canada and Chile, representing a combined capacity of 1,041 megawatts. In April, Pattern and partner Samsung Renewable Energy Inc. broke ground on their South Kent Wind project in southwestern Ontario. With the backing of U.S. private equity firm Riverstone Holdings, Pattern was formed in 2009 from the wind development portfolio of Babcock & Brown's North American Energy Group.
1 min read · 14 August 2013
