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PE rethinks NAV loans as investors push back

Private Equity Wire

Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. The ILPA warns that any distributions received from a NAV-based facility might later be recalled to help repay the loan.

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Robert Poirier to Lead OMERS Governance Review; OPE Acquires Integris

Pension Pulse

He was the long-time chair of the Toronto Port Authority and, earlier in his career, advised a committee of Canada’s Senate on issues that included the creation of major public-sector pension funds such as the Public Sector Pension Investment Board. Cravath, Swaine & Moore LLP acted as legal counsel for OMERS Private Equity.

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Ontario Teachers' Looking to Sell Aspenleaf and Amica Senior Lifestyles

Pension Pulse

Eliyahu Kamisher and Paula Sambo of Bloomberg report Ontario Teachers’ Pension Plan prepares to sell stake in oil producer Aspenleaf: Ontario Teachers’ Pension Plan is in talks to sell its stake in Canadian oil and gas producer Aspenleaf Energy Ltd., a Calgary-based private equity manager that focuses on energy.

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A Fireside Chat With BCI's Head Of PE Jim Pittman

Pension Pulse

Here are the key takeaways from their conversation: Background and BCI Overview: Jim Pittman has over 30 years of experience in finance and private equity, with a background in accounting and industry experience as a CFO and COO. One other thing Jim neglected to mention is he has seeded private equity funds in the past.

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BCI's Jim Pittman on Staying Liquid, Focused and Agile in Private Equity

Pension Pulse

It is for this reason that Canadian pension giant BCI finds itself in a rather enviable position. Under the leadership of global head of private equity Jim Pittman, the C$233 billion ($172.8 BCI has offloaded C$4 billion to C$5 billion of private equity stakes via the secondaries market since Pittman’s appointment.

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CPP Investments' CEO Warns Against Meddling in UK Pensions

Pension Pulse

Nest, the UK government-backed workplace pension fund, said it preferred proven business models to early-stage venture capital. Huge pension funds in Canada and Australia have been held out as examples that UK schemes could follow to improve returns. of the fund's assets were invested in listed stocks, 27.1%