Ivanhoé Cambridge has acquired 21 Lombard Street, an office property located in the City of London. The purchase price was £130 million (gross) or approximately $240 million. The seller in the transaction was not disclosed. Based in Montréal, Ivanhoé Cambridge is the real estate investment arm of pension fund manager the Caisse de dépôt et placement du Québec.
2 min read · 05 May 2015
Private equity firm Warburg Pincus LLC led a group of investors putting $100 million into eDaijia, which provides services in China similar to online ride-hailing service Uber, Reuters reported.
1 min read · 05 May 2015
Avison Young Inc, a portfolio investment of Canadian private equity firm Tricor Pacific Capital, has acquired Remington Group Inc, a U.S. project management company. The financial details of the transaction were not published. Avison, a Toronto-based commercial real estate services provider, said the deal expands its business-line coverage in Philadelphia and commences its project management service offerings in San Antonio, Texas. Last month, the company acquired Chicago's Mesa Development LLC.
6 min read · 05 May 2015
Diamond Corp has raised $220 million for its third Whitecastle New Urban Fund, exceeding the $200 million in capital committed to two earlier fund offerings. The new fund, which is affiliated with Canadian family office Whitecastle Investments, will be managed by Diamond Corp and will continue the firm's long-standing focus on mixed-use real estate development opportunities in the Greater Toronto Area. As was recently reported by peHUB Canada, another affiliate of Whitecastle, Whitecap Venture Partners, has raised $70 million in initial commitments for its third technology fund.
3 min read · 05 May 2015
Perstorp is sounding out investors on a potential bond refinancing of costly outstanding debt, according to sources, as the Swedish chemicals firm looks to build on a recent revamp of its business, Reuters reported.
3 min read · 05 May 2015
The private equity group of Brookfield Asset Management has agreed to buy US$150 million of convertible preferred shares of GrafTech International Ltd (NYSE: GTI), a U.S. provider of graphite material solutions to a range of industries and end markets, including steel manufacturing. With the deal's closing, Brookfield will be entitled to hold a minority interest in the company and to appoint two directors to its board. As recently reported by peHUB Canada, the agreement between GrafTech and Brookfield may also result in the latter acquiring the outstanding shares of the company's common stock. GrafTech and Brookfield are currently negotiating the terms of a potential offer.
8 min read · 05 May 2015
A U.S. bankruptcy judge ordered mediation to try to resolve how creditors of Texas’ largest power company, Energy Future Holdings Corp, will divide payments that are a key part of ending its year-long bankruptcy, Reuters reported.
2 min read · 04 May 2015
KKR & Co LP said it would merge some of its private equity industry teams in the United States after two more of its leaders stepped down, and as it prepares the ground for raising its next flagship North American buyout fund, Reuters reported exclusively.
3 min read · 04 May 2015
Pershimco Resources Inc (TSX-V: PRO) has finalized the terms of a private placement of common shares that is intended to raise gross proceeds of $7 million. The Sentient Group, a resource private equity firm based in the Cayman Islands, and Agnico Eagle Mines Ltd will each invest in the offering, giving them about 19.95 percent of the company as a result. Based in Rouyn-Noranda, Québec, Pershimco Resources is a junior mineral exploration and development company focused on its Cerro Quema Project in Panama.
5 min read · 04 May 2015
Canadian growth financing firm Beedie Capital Partners has selected Bond Capital to manage its $85 million private equity fund. Based in Vancouver, Bond Capital is a provider of mezzanine debt, financing and equity to businesses in Western Canada and the Western United States. With the addition of Beedie Capital's fund, Bond Capital will have six funds under management. The partnership between the two firms will "significantly increase the scale and geographic reach of our joint investments," said Davis Vaitkunas, founder of Bond Capital. With its headquarters in Vancouver, Beedie Capital is funded by industrial landlord and developer Beedie Development Group.
3 min read · 04 May 2015
