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Since then, it has funded bolt-on acquisitions including Wellframe and Altruista Health to expand the business. Minority investors including Coatue Management are also set to sell their stakes in the deal. Earlier this year, Bain also made a take-private bid for Surgery Partners. Can`t stop reading?
European utility Engie has joined forces with Canada’s second-largest pensionfund to try to buy British power network Electricity North West (ENWL), according to two sources with knowledge of the matter. Read more South Korea’s Hahn & Co raises $3.4bn for new buyout fund Aircraft landing gear maker Héroux-Devtek Inc.
I Squared Capital is considering selling a minority stake in Think Gas Distribution Pvt. The private equity firm is working with an adviser to sell as much as a 30% stake in Think Gas, said the people, who asked not to be identified as the information is private.
The New York State Teachers Retirement System (NYSTRS) committed $400m (£315.55m) to private debt funds between October and December last year. The pensionfund allocated $300m to the OIC Credit Opportunities IV fund, while the remaining $100m was committed to the Peninsula VIII, according to publicly available documents.
KKR has had its 1.56bn bid for British healthcare property developer Assura rejected. The offer, made in partnership with UK-based pensionfund Universities Superannuation Scheme, is the latest of four indicative, non-binding proposals from KKR.
US private equity giant KKR and top Canadian pensionfund Canada Pension Plan Investment Board ( CPPIB) have launched a $465 million block deal in Indus Towers as both investors eye an exit from the leading telecom tower company, multiple industry sources in the know told Moneycontrol. per share on January 31.
The Canadian pensionfunds acquired Santanders stake in 2016, becoming equal owners. For KKR, a successful bid for Cubico would mark another significant move in its expanding renewable energy portfolio. Today, Cubico operates wind and solar farms across Europe, the Americas, and Australia, with a total capacity of 2.8
billion bid and Ottawa has said Glencore would face rigorous scrutiny. Canada's large pensionfunds are globally known investors, managing more than $1 trillion of savings, but their exposure to domestic equities has steadily declined over the past decade since Canadian equity markets represent just 3% of the global equity market.
Florence Chong of IPE Real Assets reports ADQ buys 49% of infrastructure platform Plenary as CDPQ sells 20% stake ADQ, an Abu Dhabi state-owned investment company, has purchased a 49% stake in global public infrastructure group Plenary for an undisclosed price, believed to be around A$1bn (€609m).
The Montreal Gazette reports Rogers sells minority stake in Cogeco to CDPQ for $829 million: Rogers Communications announced Monday it has agreed to sell all its shares in Cogeco to the Caisse de dépôt et placement du Québec for $829 million in an effort to keep its investment-grade rating. Rogers held large stakes in Cogeco Inc.
We are thrilled to be entering into this partnership, on behalf of our pensionfund client ABP and Asset Owner Partners, and we are eager to work closely with the euNetworks team as they continue to develop and further their strategic vision.” agreed to buy a Permian Basin rival and a controlling stake in.
Bert also explains the main advantages IMCO and other large Canadian pensionfunds have, namely, large, stable capital inflows, ability to internalize asset management and use their size to negotiate lower fees, especially in private markets.
Razak Musah Baba of IPE Real Assets reports OMERS to buy Allianz’s stake in Indian road infrastructure trust: Canadian pensionfund OMERS is buying Allianz Capital Partners’ 13.5% stake in Interise Trust , increasing its ownership in the Indian road sector infrastructure trust to 34.8%.
But what’s even more relevant, he says, is that with $88 billion now invested in a province with a GDP of nearly $500 billion, “the Caisse is the pensionfund that is the most invested, in the world, in its local economy.” More than ever, Canada’s largest pensionfunds are being pressed to play the same role in the rest of the country.
billion; €6 billion) in liquidity last year, including roughly C$6 billion from selling direct investments and receiving dividend recapitalisations, and around C$3 billion from selling private equity fundstakes in the secondaries market, head of PE Martin Longchamps tells affiliate title Private Equity International.
and funds affiliated with Rialto Capital (“Rialto”) today announced that they have entered into a newly formed joint venture with the Federal Deposit Insurance Corporation (“FDIC”) and acquired a 20% equity stake for $1.2 As I said above, not surprised in the least about this follow-on investment in Octopus Energy.
At C$146 billion, equivalent to a quarter of the entire C$575 billion pensionfund for some 21 million Canadians and forecast to grow bigger every year, Kim leads a program that is also heading into unchartered territory. Most were on the fund's private equity team and were informed early last month, according to two of the people.
CPP Investments, the public pension plan’s asset manager, has about $36 billion under management in Latin America, or about 5% of its global portfolio, in sectors from electric utilities and sanitation to real estate, telecoms and logistics. The bigger picture: Scaling new heights.
A month ago, Eliyahu Kamisher of the Los Angels Times reported that CalPERS pensionfund posts 5.8% gain in its latest fiscal year as the stock market rally and private debt buoyed the largest traditional public pensionfund in the United States. pensionfund, has yet to release its fiscal 2023 results.
Caledonia’s stake in 7IM was valued at £187mn as of March 31. The Canadian fund already has significant investments in the UK. Last year it bought a 25 per cent stake in SSEN Transmission, a division of Scottish energy company SSE, for £1.5bn. It also holds stakes in London City, Bristol and Birmingham airports.
Among individual hedge funds, Warren Buffett’s Berkshire Hathaway Inc. revealed a stake in insurer Chubb Ltd. Tiger Global Management LLC increased its stake in Alphabet Inc. The fund upped its weightings in financial stocks by more than any other industry , while decreasing its weightings in the communications sector.
It is for this reason that Canadian pension giant BCI finds itself in a rather enviable position. billion) public pensionfund has spent much of the past decade using the secondaries market to cultivate a comparatively liquid portfolio of illiquid assets. billion; €158.2 We were very slow to get into venture capital and growth.
James Bradshaw of the Globe and Mail reports that OMERS is writing off its take in troubled British utility Thames Water: The Ontario Municipal Employees Retirement System (OMERS) has written off its entire investment in troubled British utility Thames Water, walking away from a stake once valued at well over $1-billion.
Anyway, let me get on to covering this week in pensions. First, Shahir Gindo wrote a special to the Globe and Mail on why Canadian pensionsfunds should invest more in domestic assets to boost the economy. I want to confront the topical complaint that pensionfunds allocate something like 4% of our capital to domestic stocks.
The full share capital of Premier Lotteries Ireland (PLI), currently majority owned by the Ontario Teachers’ Pension Plan with minority stakes held by An Post, is to be sold to La Francaise des Jeux, pending approval by the lottery regulator. That approval is expected to be delivered some time before the end of 2023.
Silas Brown and Kat Hidalgo of Bloomberg report Florida pension to offload up to $4 billion of private credit: The Florida State Board of Administration is looking to sell a bundle of private credit stakes worth as much as $4 billion in what would be one of the largest deals of its kind, according to people with knowledge of the matter.
The pensionfund manager had quietly tried to sell LifeLabs in previous processes and failed to find a buyer, according to two of the sources. Quest also bid, unsuccessfully, for CML at the time, according to one of the sources, who worked on the transaction. CPP Investments will retain a ~2% stake in Visma.
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. So we kind of had headwinds and tailwinds in the portfolio, which is the point of diversification,” Graham said. per cent return.
Here are the top stories covering pensions and investments this week: 1) Jason Markusoff of CBC News reports that Ontario has concerns over Danielle Smith's CPP exit bid, but also a stark lesson for her: It may seem like a pile-on by now to Premier Danielle Smith and the United Conservatives. For more information click here.
They said, hey, if you're involved, chill the auction and no one wants to bid, and so you can't even show up. I still owe the guys stake if I could find him. Their structures are built by their customers who are the limited partners by and large mostly its pensionfunds. Which was interesting. David Gardner: Wow.
The fund focuses on real estate secondaries, acquiring stakes in mature funds, providing liquidity to limited partners, and recapitalising existing assets. Source: City Wire If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com. Can`t stop reading?
In addition to BMW and Volkswagen AG , Northvolt’s top investors included Goldman Sachs’s asset management arm, Denmark’s biggest pensionfund ATP, Baillie Gifford & Co. funds and a number of Swedish entities. Volkswagen is Northvolt’s largest shareholder with a 21 per cent stake and is likely to be nursing similar losses.
Northern Ontario Business also reports Hydro One wins bid to build Wawa-Porcupine transmission line: The province has decided who will build a 260-kilometre transmission line to boost Northern Ontario. Five Nations Energy also supported the Hydro One bid. Boileau said the announcement allows the region to proactively plan.
Nicolas Van Praet of the Globe and Mail reports pension giant Caisse strikes deal to acquire Innergex Renewable Energy: Canadian pensionfund giant Caisse de dpt et placement du Qubec has struck a deal to buy Innergex Renewable Energy Inc. in a bid to leave the short-term view of stock market investors behind.
However, it will take time to assess the full impact of the 2021-2023 governance and management changes on the pensionfund manager’s organizational performance. Were AIMCo’s pensionfund clients consulted, as would normally be required under investment management agreements? Those changes are now in place.
I do think theres a path, he said, adding he believes pension involvement in Canadian airports could start almost immediately with investments in adjacent assets such as parking garages and freight services as well as new developments like sustainable aviation fuel facilities that arent core to the business of an airport.
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