BlackRock Inc. is shaking up the private equity industry with a new longer-term approach to the asset class. In April, the firm announced it was ready to start investing its long-term private capital vehicle, which had $2.75 billion in capital committed from cornerstone investors at the time. According to BlackRock, the permanent capital vehicle will […]
The Caisse de dépôt et placement du Québec and Beaudier Inc. are among a group providing $500 million in private capital refinancing to Quebec-based McInnis Cement. Alongside a $200-million loan from the Caisse and Beaudier, a syndicate of 11 Canadian and international banks will be providing $300 million. The pension fund’s last investment in McInnis was $125 […]
BlackRock Inc. is shaking up the private equity industry with a new longer-term approach to the asset class. In April, the firm announced it was ready to start investing its long-term private capital vehicle, which had $2.75 billion in capital committed from cornerstone investors at the time. According to BlackRock, the permanent capital vehicle will […]
Hedge funds increasingly influenced by their institutional investor clients: report Increasing numbers of institutional investors are entering hedge funds and driving the industry to provide more bespoke offerings, according to the Alternative Investment Management Association’s latest research. More than half of survey respondents from the hedge fund industry said customized solutions are crucial to driving […]
The Ontario Municipal Employees Retirement System, alongside the Bank of Montreal, is committing $33 million in funding to District Ventures Capital. Founded by financier Arlene Dickinson, the fund focuses on consumer goods-related venture capital. With the new investment, the fund now totals $70 million. Read: PSP Investments takes on Hawaiian farmland “We are pleased to have these institutional investors […]
The British Columbia Investment Management Corp., alongside ATL Partners, are acquiring Valence Surface Technologies Inc., a Houston-based aerospace surface finishing platform. The company has eight facilities in the U.S. and provides treatments like plating, painting and spray coating aerospace and defence assets that need complex finishing to meet engineering specifications, including for Airbus, Boeing Co., Lockheed Martin Corp. and Space Exploration […]
The Institutional Limited Partners Association has released new best practices guidance covering a variety of topics in the private equity space. One topic is management fees, which the association said should be based on reasonable expenses that are normal operating costs of the fund. And, it noted, when new funds are formed, general partners should […]
Indian-based infrastructure conglomerate IndInfravit Trust, whose owners include the Canada Pension Plan Investment Board and the infrastructure investment arm of the Ontario Municipal Employees’ Retirement Plan, is buying nine operational road projects from Sadbhav Infrastructure Project Ltd. The portfolio of roads, which was valued at more that $66 million rupees, or about $1.2 billion, includes seven toll roads […]
Private equity firm Peloton Capital Management has made its inaugural investment of $75 million in 123Dentist, the largest majority Canadian-owned network of dental practices. Peloton, which launched in November 2018, was founded by two former Ontario Teachers’ Pension Plan managing directors, Steve Faraone and Mike Murray. Jim Leech, the chancellor of Queen’s University and former […]
The Ontario Teachers’ Pension Plan is investing in Space Exploration Technologies Corp., more commonly known as SpaceX. The company, which was founded by Elon Musk, designs, manufactures and operates advanced rockets and spacecraft. It’s the inaugural investment of the Ontario Teachers’ late-stage venture capital and equity growth platform, the Teachers’ Innovation Platform, which was launched […]