CPPIB takes $250 mln stake in PE-backed Markit IPO
Canada Pension Plan Investment Board (CPPIB) has bought 10.4 million common shares of Markit Ltd as part of the company's initial public offering. Valued at US$24.00 per share, the purchase represents an investment by CPPIB of US$250 million and an ownership interest of approximately 6 percent. Based in London, Markit is a diversified provider of financial information services led by Canadian-born executive Lance Uggla. It is backed by U.S. private equity firm General Atlantic, Singapore investment firm Temasek Holdings and other investors. The Markit IPO is reported by the Wall Street Journal to have raised about US$1.2 billion.
19 June 2014•2 mins read
