The Canada Pension Plan Investment Board is jointly acquiring an experience management software provider. The CPPIB and Silver Lake, a private equity firm, will acquire all outstanding shares in Qualtrics for US$12.5 billion. Under the terms of the agreement, existing shareholders will receive US$18.15 for each share sold. Qualtrics is known for its cloud-based subscription […]
The Ontario Municipal Employees’ Retirement System is investing in an Arizona-based solar energy business. In a deal reached with Clairvest Group Inc., the institutional investor secured a minority stake in NovaSource Power Services, which provides solar panel servicing for industrial and residential customers and manages 20 gigawatts of solar assets. Following the transaction, Clairvest will […]
Shares in a Canada Pension Plan Investment Board-backed financial technology company have rebounded following a disastrous first week on the Bombay Stock Exchange. In the four days that followed One97 Communication Ltd.’s Nov. 18 debut, its stock price dropped by more than 37 per cent. By Nov. 29, following the release of a third quarter report […]
The future has arrived — it’s just not evenly distributed yet,” wrote science fiction author and futurist William Gibson. It’s a favourite quote for Chris Evdaimon, investment manager of private companies at the investment management firm Baillie Gifford. He likes it so much that, during his presentation at the 2021 Global Investment Conference, he used […]
A sport data intelligence and entertainment provider backed by the Canada Pension Plan Investment Board is seeing its stock price recover following a disastrous first day on the Nasdaq. Before making its debut on Sept. 14, Switzerland-based Sportradar Group expected to see its first public stocks trade between US$25 and US$27 — roughly in line […]
Companies that cater to the “new normal” of working and shopping from home are rushing to go public. 2020 could turn out to be the best year for the initial public offering market in two decades. Newly public companies have piggybacked on the broader stock market, which made a soaring recovery in spring and summer […]
Japanese Prime Minister Shinzō Abe’s economic policies, known as ‘Abenomics,’ have led to big improvements in corporate governance in the country, says Iain Campbell, a portfolio manager for the Baillie Gifford Overseas Fund. While there’s been a lot of discussion about whether Abenomics is working, the improvements in corporate governance are coming through in how […]
GFL Environmental Inc. is cancelling its initial public offering, which was expected to raise upwards of US$2.4 billion, after investors proposed pricing below its desired range. The Vaughan, Ont.-based waste management company in October had launched its IPO priced at between US$20 and US$24 per share. “The existing shareholders determined that the proposed pricing offered […]
While private equity’s original advantage was taking over a firm to revamp its governance and operations, private equity companies are now finding fewer underperforming firms to fix and the private equity model is changing, according to a new paper by Elisabeth de Fontenay, a professor of law at Duke University. The paper, which is set […]