Healthcare of Ontario Pension Plan related stories
All articles and analysis
B2B payments and credit network Fundbox inks Series CSan Francisco-based Fundbox, a B2B payments and credit network, has raised US$176 million in Series C funding. Also, the company has secured a US$150 million credit facility. Investors in the Series C round included Allianz X, Healthcare of Ontario Pension Plan, HarbourVest, 9Yards Capital, Hamilton Lane, SEB Private Equity (on behalf of clients), Cathay Innovation, Synchrony, MUFG Innovation Partners Co., Ltd., Recruit Strategic Partners, GMO Internet Group and Arbor Ventures. Other participants in the round were Khosla Ventures, General Catalyst and Spark Capital Growth.
- Upstart snags $50 mln
San Francisco-based Upstart, an artificial intelligence lending platform, has secured $50 million in funding. The investors were Progressive Investment Company Inc, Healthcare of Ontario Pension Plan and First National Bank of Omaha.
HOOPP chief executive Jim Keohane to retire next yearJim Keohane, president and CEO of Healthcare of Ontario Pension Plan (HOOPP), said he will be retiring in March of 2020. Keohane joined HOOPP in 1999 as manager, equity trading, and became CEO in 2012. He will continue to lead the Canadian pension fund as it searches for a successor. HOOPP said it doubled in size, growing to $79 billion in net assets, during Keohane's tenure as CEO. Toronto-based HOOPP is the retirement plan for Ontario’s hospital and community-based healthcare sector. It invests in private equity through HOOPP Capital Partners.
Side Letter: Brookfield arrives, PFA's Japan complaint, LACERS speeds upBrookfield is moving forward in its bid for private markets domination. Here’s today's brief, for our valued subscribers only.
HOOPP’s PE portfolio shines bright amid low returnsThe pension system is 121% funded and returned 2.17% last year, compared with 10.88% in 2017.
- HOOPP joins Better Mortgage's $70 mln Series C round
Better Mortgage, a New York-based digital mortgage lender, has raised US$70 million in a Series C financing. The round's backers included Healthcare of Ontario Pension Plan (HOOPP). It was joined by American Express Ventures and existing investors. Launched in 2016, Better Mortgage has so far funded more than US$2 billion in loans, helping over 7,000 Americans buy or refinance their home. The company's expansion plans for 2019 include new technology investment, team growth and development of partnership channels.
- Better Mortgage snags $70 mln Series C
New York City-based Better Mortgage, a digital mortgage lender, has secured $70 million in Series C financing. The investors were American Express Ventures, Healthcare of Ontario Pension Plan, Kleiner Perkins, Goldman Sachs and Pine Brook. The capital will be used for growth and to invest in Better's technology platform.
- HOOPP partners with CIFC in new risk retention vehicle
Healthcare of Ontario Pension Plan has formed a strategic partnership with CIFC LLC, a U.S. private debt manager specializing in U.S. corporate and structured credit strategies. HOOPP has committed a “substantial” undisclosed amount to a new risk retention vehicle, CIFC CLO Strategic Partners II (CMOA II), which will purchase the majority equity positions of CIFC’s new issue collateralized loan obligations. CIFC has committed $75 million. CMOA II is expected to support about $7.5 billion of the firm’s incremental new issuance over the next several years. Toronto-based HOOPP oversees more than $70 billion in assets.
HOOPP partners with CIFC in new risk retention vehicleHealthcare of Ontario Pension Plan (HOOPP) has formed a strategic partnership with CIFC LLC, a U.S. private debt manager specializing in U.S. corporate and structured credit strategies. HOOPP has committed a "substantial" undisclosed amount to a new risk retention vehicle, CIFC CLO Strategic Partners II (CMOA II), which will purchase the majority equity positions of CIFC’s new issue collateralized loan obligations. CIFC has committed US$75 million. CMOA II is expected to support about US$7.5 billion of the firm's incremental new issuance over the next several years. Toronto-based HOOPP oversees more than $70 billion in assets.
Home Capital plans $2 bln in asset sales to ease loan burden: ReutersHome Capital Group, Canada's biggest non-bank lender, is in talks to divest about $2 billion in assets to help pay down a high-interest loan and delay a potential sale of the entire company, sources told Reuters. The Toronto company wants to sell all or part of its commercial mortgage portfolio, its consumer finance business and a small portion of its traditional residential mortgage portfolio to raise the $2 billion. U.S. buyout firms Cerberus Capital Management LP, Fortress Investment Group LLC and Apollo Global Management LLC are among those in active talks with Home Capital about buying some of its assets. Caisse de dépôt et placement du Québec, as well as other pension funds and some private equity firms, are in talks about providing an alternative loan, the sources said.