The Ontario Teachers’ Pension Plan is considering making a takeover bid for BCE. The telecom company announced it was in non-exclusive talks with a consortium that includes the Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, the Public Sector Pension Investment Board, and Kohlberg Kravis Roberts & Co. to be taken […]
Giuliano Zaccardelli, the former RCMP commissioner, said he stopped a criminal probe into the mishandling of the Mounties’ pension fund. After testifying in front of the House public accounts committee, he told reporters that when he heard someone was trying to launch a criminal investigation, he cancelled it because it was not appropriate at the […]
A consortium led by three Canadian pension funds and one of the world’s largest private equity firms confirmed today it is in discussions to take BCE private. The Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, and the Public Sector Pension Investment Board—who will be majority shareholders—and Kohlberg Kravis Roberts & […]
U.S. public and corporate pension plans have usually had different concerns and motivations, but a survey suggests these differences changed drastically last year. The survey—released by Fidelity Investments’ institutional investment division, Pyramis Global Advisors—found that for the first time in its five-year history, U.S. public defined benefit(DB)plans invested in more international equities than corporate plans […]
Institutional investors are less confident this month, according to State Street. Its Investor Confidence Index fell by 7.6 points to 91.7 from March’s revised reading of 99.3. “This month saw a pullback by North American investors, accompanied by more modest fluctuations in Asian and European confidence,” says State Street Associates director Paul O’Connell. The confidence […]
The Ontario Teachers’ Pension Plan has been told by several institutional shareholders that they would support its plan to buy BCE, according to a report. The Globe and Mail reports a group of investors that own about 36% of the company’s shares would support an offer of approximately $40 a share. Last week, a Teachers’ […]
Giuliano Zaccardelli, the former RCMP commissioner, is scheduled today to appear before the parliamentary committee looking into allegations of fraud and mismanagement of the Mounties’ pension fund. Last month, many RCMP officers testified that their former boss knew about wasteful spending of pension money. Two senior officers have resigned as a result of the scandal. […]
Kensington Capital Partners has obtained a receipt for the final prospectus for the initial public offering of Kensington Global Private Equity Fund units. Closing of the offering is scheduled for April 20, 2007. The fund will offer access to a diversified portfolio of global private equity investments, including private equity funds and direct investments in […]
David Brown, the former head of the Ontario Securities Commission, will lead an independent investigation into fraud allegations relating to the RCMP pension and insurance plans. He will be supported by any experts deemed necessary to fulfill his mandate and a final report is to be submitted to Stockwell Day, the minister of public safety, […]
An Ontario Teachers’ Pension Plan board member has resigned, citing a position of conflict given that he also sits on the board of BCE. Thomas C. O’Neill tendered his resignation effective immediately. Earlier this week, Teachers’ said it was “closely monitoring developments and is exploring its options” as BCE’s largest shareholder in a regulatory filing […]