Canadian mid-market private equity firm Champlain Financial Corp. has taken an undisclosed stake in Landry Investment Management. The Montréal-based company, an investment fund manager of the Landry family of funds and a provider of discretionary portfolio management services, also saw Benoit Brillon, Landry's chief investment officer, become a shareholder. Kit Dalaroy, who is affiliated with Champlain, is the company's CFO.
2 min read · 03 May 2013
Buyout firms follow a variety of methods when valuing the freely tradable securities that they distribute to LPs. The method can make a signficant difference in the ultimate IRR assigned to a deal.
1 min read · 03 May 2013
Ares Management LLC, an investment firm with some $59 billion in credit and private equity assets, is speaking to investment banks about an initial public offering in the United States, a person with knowledge of the matter told sister news service Reuters. If Ares proceeds with an IPO, it would be the latest in a string of U.S. stock market listings by alternative asset managers following public offerings last year from The Carlyle Group LP and Oaktree Capital Group LLC.
2 min read · 03 May 2013
A PwC Canada report found that Canadian start-up CEOs are increasingly focused on building independent companies, rather than opting for sales or mergers. PwC's survey showed 44% of companies are looking to M&A exits, in contrast to the 76% that sought this route a year ago. Just 21% anticipate a partial sale, while 30% have no plans to exit at all. The report also found that more start-ups employ women, which accounted for 24% of management teams. Over half of start-ups rely on friends or family money, angel financing or venture capital investment.
4 min read · 02 May 2013
Vancouver's Anfield Nickel Corp., a publicly-traded company focused on the exploration and development of nickel laterite resources, and which owns Guatemala-based Mayaniquel SA and related assets and properties, has obtained a loan totaling $3 million from Canadian private equity firm Lumina Capital LP. The loan will be used for working capital and general corporate purposes.
2 min read · 02 May 2013
Kirchner Group, which provides asset management services to institutional investors, and operational and transactional support to companies, has partnered with Crestline Investors Inc. on a new initiative focused on acquiring, managing and investing in under-performing private equity assets, portfolios and funds. Crestline-Kirchner Private Equity Group will be led by W.B. (Bud) Kirchner, founder of Kirchner, which has offices in Montréal and Gadsden, Alabama.
4 min read · 02 May 2013
Rogers Media Inc. has received approval from the Canadian Radio-Television and Telecommunications Commission to acquire Score Media Inc., which Rogers bought in October 2012 for $167 million. The acquisition includes specialty sports channel The Score. Canadian venture capital firm Relay Ventures recently spun out the company's mobile and web property, leading a $16 million investment in the recently established theScore Inc., which is based in Toronto.
4 min read · 02 May 2013
Stingray Digital Group, a Montréal-based innovative content provider and broadcaster focused on delivering high-quality music content, has acquired the Canadian commercial accounts of Vancouver's eMedia Networks International Corp. for over $2 million. According to a report by The Globe and Mail, the deal adds 5,000 retail locations to Stingray’s arsenal of in-store music clients, pushing its total to 61,000 in Canada. Stingray is a portfolio company of Canadian technology buyout fund Novacap Technologies and technology investor Telesystem.
2 min read · 02 May 2013
Agcapita Partners, a Calgary, Alberta-based hedge fund manager which specializes in making investments in farmland in Saskatchewan and other parts of Western Canada, recently launched its latest fund Agcapita Farmland Fund IV. Fund IV, which is open to investors in six Canadian provinces, is targeted for a $20 million offering. Agcapita's series of farmland-focused funds began in 2008.
2 min read · 02 May 2013
Oakville, Ontario-based Pethealth Inc., a provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada and the United Kingdom, has acquired certain assets of Nestlé Purina Claims Processing Inc. and PurinaCare Insurance Services Inc. The purchase price was US$800,000. Pethealth is a portfolio company of retail venture capital firm Dynamic Venture Opportunities Fund.
3 min read · 02 May 2013
