Canadian family office Walter Group of Cos has appointed Éric Phaneuf as president and CEO of Walter Capital Partners. Phaneuf joined Montréal-based Walter Capital, the family office's private equity arm, in 2015. He formerly served as a managing partner, helping to develop strategy and oversee $100 million of investments by the firm's $200 million fund. Before 2015, Phaneuf was a senior executive at such companies as Cascades, MediaGrif and Megabrands. As reported by PE Hub Canada, Walter Capital in 2018 hired Sam Ramadori, formerly of Dundee Sarea, as a managing partner.
2 min read · 01 May 2019
Investment Management Corp of Ontario (IMCO) has appointed Kathy Jenkins as chief financial officer. Jenkins joins IMCO from Canada Pension Plan Investment Board (CPPIB), where she served as managing director of corporate finance. She previously held comparable senior roles at Scotiabank, Fairmont Raffles Hotels International and CIBC. Jenkins succeeds Michel Paradis, who is retiring. Launched in 2017, Toronto-based IMCO manages $63 billion in assets on behalf of Ontario Pension Board and Workplace Safety and Insurance Board.
2 min read · 01 May 2019
Canadian private equity firm Onex Corp and a group of co-investors have committed to invest $1.8 billion in Convex Group Ltd, a newly-launched, Bermuda-based property and casualty insurance company. About $1.6 billion of the commitment has been funded, Onex said. Led by insurance industry executives Stephen Catlin and Paul Brand, Convex will focus on underwriting complex specialty risks across a range of business lines. The funded investment includes $750 million from Onex Partners V, which raised $7.15 billion in 2017. Another $780 million came from co‑investors, including Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund.
3 min read · 01 May 2019
Walter Global Asset Management has acquired a minority stake in LionGuard Capital Management, a Montréal-based asset management firm. Terms weren't disclosed for the deal, which includes direct allocations toward LionGuard-managed funds. Founded in 2014 by President, CEO and CIO Andrey Omelchak, LionGuard specializes in research on small and medium capitalization companies. The partnership with Walter will allow the business to expand its teams across research, operations and client-servicing divisions. LionGuard is the first deal of Walter, a private equity platform focused on North America's asset management sector. Launched in 2018, the platform is an affiliate of Canadian family office Walter Group of Cos.
3 min read · 01 May 2019
Engage2Excel Inc has acquired Rideau Inc, a Montréal-based integrated recognition platform that supports employee engagement and retention. Terms weren't disclosed for the deal, which was backed by U.S. mid-market private equity firm Comvest Partners. Comvest acquired Engage2Excel, a Statesville, North Carolina-based provider of employee recognition and engagement, sales incentives, talent acquisition and consumer loyalty solutions and services, in 2018. Established in 1912, Rideau is expected to continue operating in its existing form, while leveraging the assets of Engage2Excel.
3 min read · 30 April 2019
Canadian private equity firm TorQuest Partners is aiming to raise up to $1.35 billion for its fifth mid-market fund, according to a report by AltAssets. The fund's predecessor, TorQuest Partners Fund IV, closed in 2016 at its $925 million hard cap. Toronto-based TorQuest was founded in 2002 by Senior Managing Partner Brent Belzberg and Managing Partner Eric Berke. As reported by PE Hub Canada last year, the firm has sustained a brisk deal pace of late, both buying and selling businesses. Last month, TorQuest acquired Prepac Manufacturing Ltd, a Delta, British Columbia-based maker of ready-to-assemble home furniture.
1 min read · 30 April 2019
3 min read · 30 April 2019
Canadian venture capital firm Pangaea Ventures has closed its fourth advanced-materials fund, raising about $70 million in commitments. Pangaea Ventures Fund IV was backed by a range of limited partners, including VanCity and BC Tech Fund, managed by Kensington Capital Partners. Pangaea also increased its strategic investors to twenty-five. Fund IV backers include existing investors CoorsTek, JSR and Mitsubishi Chemical Holdings and new investors Adidas, Doosan, Henkel, Lam Research, PTT Global, Sekisui, Severstal, Shin-Etsu and TOSOH.
2 min read · 30 April 2019
Canadian private equity firm Onex Corp and a group of co-investors have committed to invest US$1.8 billion in Convex Group Ltd, a newly-launched, Bermuda-based property and casualty insurance company. About US$1.6 billion has been funded, Onex said. Led by insurance industry executives Stephen Catlin and Paul Brand, Convex will focus on underwriting complex specialty risks across a range of business lines. The funded investment includes US$750 million from Onex Partners V, which raised US$7.15 billion in 2017. Another US$780 million came from co‑investors, including Public Sector Pension Investment Board , a Canadian pension fund.
3 min read · 30 April 2019
Biolux Research, a Vancouver-based developer of light-accelerated orthodontic products, has raised $14 million in a Series A financing. The round was led by Venrock, a U.S. technology and healthcare venture capital firm. It was joined by Correlation Ventures and other investors. Founded in 2007, Biolux is the maker of OrthoPulse, a non-invasive device that uses low levels of light energy to accelerate orthodontic treatments. The product is currently being sold in the United States, Europe and Asia. The company also announced the appointment of David Thrower, a medical device industry executive, as its new CEO.
3 min read · 30 April 2019
