Kaizena, a Canadian technology platform that allows students to obtain feedback on their work, has secured $900,000 in seed-stage funding. The company was backed by U.S. venture capital firm NewSchools Seed Fund, Hong Kong-based Horizons Ventures, the private investment arm of Asian businessman Li Ka-shing, and a number of angel investors, including LinkedIn CEO Jeff Weiner. Kaizena, which has been supported in its growth by the University of Waterloo's Velocity Garage, plans to use the proceeds of its investment to improve the speed and quality of its feedback loop.
5 min read · 15 July 2015
China’s move to halt new company listings on its stock markets is offering private equity firms, hedge funds and sovereign wealth funds an opening to fill private companies’ funding needs, paving the way for more M&A activity, Reuters reported.
3 min read · 15 July 2015
Permira said on Wednesday that it had hired ex-KKR deal-maker Ryotaro Fujii to head its Japan operations, as the European private equity firm chases billion-dollar deals in the world’s third-biggest economy, Reuters reported.
1 min read · 15 July 2015
A Brazilian court approved a debtor-in-possession loan to engineering firm OAS SA, the company said, after it earlier this year filed for bankruptcy protection in the wake of a corruption investigation that shut its access to refinancing, Reuters reported. Brookfield Asset Management will extend the US$254 million loan to OAS, which will set aside a 24.4 percent stake it owns in infrastructure company Invepar as collateral.
2 min read · 15 July 2015
Callinex Mines Inc (TSX-V: CNX) plans to complete a private placement transaction to raise up to $3 million in proceeds. The company said that U.S. private equity firm Resource Capital Funds (RCF) is expected to acquire the majority of issued shares and become its largest investor. Based in Vancouver, Callinex is a mineral exploration company focused on discovering the next polymetallic mine in Manitoba's Flin Flon mining district. Earlier this month, RCF-backed TMAC Resources Inc completed its initial public offering of $135 million and commenced trading on the Toronto Stock Exchange.
6 min read · 15 July 2015
Canadian private investment firm Oxford Park Group has acquired more than five percent of the outstanding shares of Extendicare Inc (TSX: EXE), a provider of care and services for seniors in Canada. Oxford said it has initiated discussions with management aimed at improving the company's share performance and value. It said it may have related discussions with shareholders, debt providers, industry analysts and others. Based in Markham, Ontario, Extendicare operates a network of senior care centres and a home healthcare business. It recently sold its U.S. subsidiary to a private equity-led consortium to enable an exclusive focus on the domestic market.
2 min read · 15 July 2015
The Asset Based Lending Group of TD Bank has provided US$23 million in financing to Atlas Paper Holdings Inc, a U.S. manufacturer of tissue products, utilizing both virgin and recycled fiber. TD's credit facility helped to finance the debt recapitalization of the company. Based in Miami, Florida, Atlas Paper is a portfolio investment of U.S. private equity firm Peak Rock Capital. It was formed in December 2014 as the result of the merger of Atlas Paper Mills LLC and Atlas Southeast Papers Inc.
3 min read · 14 July 2015
Middle-market buyout loans offer the best hope of boosting low borrowing levels by private equity firms as sponsors battle cash-rich corporate buyers and U.S. regulators’ leveraged lending guidance that are restricting the amount of debt that banks can offer, Reuters reported.
3 min read · 13 July 2015
Carried interest taxation is again in the spotlight this year after two lawmakers introduced legislation in late June requiring the IRS to treat carried interest as regular income, not capital gains. Below get a rundown on this and four other legislative and regulatory highlights of the second quarter, courtesy of Chris Walters, senior director-governmental and regulatory affairs for the Small Business Investor Alliance.
3 min read · 13 July 2015
Alternative money managers such as real estate funds, hedge and private equity funds added US$600 billion in assets last year, a new survey released this week showed, as institutions poured in cash to diversify their portfolios. Total assets under management of alternative asset managers stood at US$6.3 trillion at the end of 2014, consultant Towers Watson reported.
1 min read · 13 July 2015
