Private Equity
CPPIB's head of private investments André Bourbonnais talks about the deal environment, the Neiman Marcus transaction, CPPIB's directs versus fund commitment businesses and the institution's big focus on private equity secondaries.
6 min read · 18 November 2013
Toronto-based TorQuest Partners recently announced the final close of its third partnership, TorQuest Partners Fund III, at $535 million – one of the largest Canadian private equity funds raised in recent years. For the firm’s senior partners this outcome reflects more than sheer perseverance in a brutal fund-raising climate. It’s also a strong vote of confidence by LPs in the investment strategy pursued for over two decades.
4 min read · 16 September 2013
Doug Pearce, CEO and CIO of British Columbia Investment Management Corp. (BCIMC), has decided to retire in 2014, following 25 years with the Victoria-based public pension fund manager. Pearce will continue to lead BCIMC until the board of directors names a successor, which is expected to happen by March 31, 2014. During Pearce's tenure, assets managed by BCIMC grew from $15.9 billion in 1988 to more than $100 billion in 2013.
3 min read · 30 August 2013
Scottsdale, Arizona-based Carefree Communities Inc., which owns and operates destination RV resorts and senior manufactured housing communities, recently acquired for an undisclosed amount Sherkston Shores RV Resort in Port Colborne, Ontario. Carefree, which now has an aggregate asset value of approximately US$650 million, was formed by U.S. private equity firm Centerbridge Partners, following its June 2013 acquisition of National RV Communities LLC.
3 min read · 18 July 2013
When it comes to helping technology companies raise risk capital, Canadian innovation hub MaRS Discovery District appears to be doing the job. Entrepreneurs and startups supported by MaRS programs have since 2009 leveraged close to $840 million from angel investors, venture capital firms and other sources, according to MaRS stats shared with peHUB Canada.
5 min read · 15 July 2013
Hilco UK Ltd., the international arm of Hilco Trading Co. in the United States, last month quietly launched a new investment platform focused on distress opportunities in Canada – Re:Capital Canada LP.
4 min read · 17 June 2013
Montréal-based OMsignal Inc., a startup company which develops bio-sensing clothing that connects with mobile devices, has obtained a $1 million seed-stage round of financing. The deal involved Canadian venture capital firms Real Ventures and Golden Venture Partners, as well as TechStars CEO David Cohen. OMsignal said it would open its apparel platform to external parties this summer.
3 min read · 05 June 2013
The Fonds de solidarité des travailleurs du Québec FTQ, one of Canada’s oldest private equity firms, celebrates its 30th birthday this year. Founded in 1983 by Québec’s largest labour federation, Fonds FTQ marked the occasion in February by welcoming its 600,000th retail investor.
4 min read · 27 May 2013
Waterton Global Resource Management, a Toronto-based private equity firm focused on investments in the precious metals sector, has won its bid for the Hollister gold mine and the Esmeralda Mill in Nevada. The acquired assets, purchased through a court-supervised auction, were formerly owned by Great Basin Gold Ltd. Waterton's competitors for the Nevada assets were primarily traditional mining companies. The transaction is expected to be completed on May 17, 2013.
2 min read · 01 May 2013
Vancouver's Espresso Capital, which provides venture debt financing to technology companies, announced the first close of its Espresso Fund III at C$35 million. The fund, which is focused on tax credit financing, is expected to be capitalized at over C$150 million. Since 2009, Espresso has deployed over C$40 million in loans to over 130 clients in Canada. Companies recently backed by Espresso include Collabware, MConcierge and Nakina Systems and Skyreader Media.
2 min read · 10 April 2013
