Investment Management Corporation of Ontario related stories
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TorQuest Partners acquires VersaCold Logistics ServicesCanadian mid-market private equity firm TorQuest Partners has acquired VersaCold Logistics Services, a Vaughan, Ontario-based cold storage warehousing and food logistics company, from KingSett Capital and Ivanhoe Cambridge.
IMCO commits C$1bn to private equityThe Canadian pension backed three private equity funds.
Canada's IMCO loses private markets headNicole Musicco has left the C$63bn Investment Management Corp of Ontario which helps public sector funds scale and gain access to private-market investments.
IMCO makes $525 mln Corsair deal its debut investmentFrancisco Partners and minority investors have agreed to sell a majority stake in Corsair, a Fremont, California provider of computer components and peripherals, to EagleTree Capital, a U.S. private equity firm. The deal, valued at US$525 million, will be backed by co-investors. They include Canada's Investment Management Corp Ontario (IMCO). IMCO, which oversees $60 billion in assets on behalf of Ontario Pension Board and Workplace Safety and Insurance Board, was officially launched this week /canada/2017/7/3464288/ in part to seek out private-market investment opportunities. The Corsair deal is expected to close in the months ahead.
EagleTree, IMCO and Honeywell to acquire CorsairEagleTree Capital, Investment Management Corp of Ontario and Honeywell have agreed to acquire a majority stake in Corsair, a provider of high performance branded computer products. The seller is Francisco Partners. The deal is valued at $525 million. Barclays Capital Inc served as financial adviser to Corsair while Macquarie Capital and BNP Paribas did likewise for EagleTree.
IMCO launched to manage $60 bln in Ontario institutional assetsThe Investment Management Corp of Ontario (IMCO), a Toronto manager of institutional assets, has officially commenced operations. IMCO was formed by the Ontario government in 2016 to provide public sector funds with scale and give them access to private-market investments. It will oversee $60 billion in assets from two members, Ontario Pension Board (OPB) and Workplace Safety and Insurance Board. Last year, it was announced /canada/2016/11/bert-clark-tapped-to-lead-new-50-bln/ that Bert Clark, formerly president and CEO of Infrastructure Ontario, would become IMCO's first CEO. Its first CIO will be Jill Pepall, who joins from OPB.
Bert Clark to lead new $50 bln Ontario pension fund managerBert Clark has been hired as the first CEO of the Investment Management Corp of Ontario (IMCO), a manager of Ontario public pension funds. Clark, who assumed the role last month, previously served as president and CEO of Infrastructure Ontario and head of Scotiabank's North American infrastructure finance practice. IMCO was formed by the Ontario government in July and is expected to begin operations next year. Its two inaugural members, the Workplace Safety and Insurance Board (WSIB) and Ontario Pension Board, provide it with initial assets under management of about $50 billion.