Oh, Canada! Ontario Pension to Sell Maple Leafs

The Ontario Teachers’ Pension Plan decided over the weekend to try to sell its 66 percent stake in Maple Leaf Sports and Entertainment, the company that owns the fabled Maple Leafs of the National Hockey League, as well as the Raptors of the National Basketball League. Other assets include Toronto’s Air Canada Centre, where the two teams play, and the Toronto FC soccer club.

The Maple Leafs team is one of professional hockey’s most legendary and valuable franchises, having won 11 Stanley Cup hockey championships. It hasn’t, however, won a NHL championship since 1967, the longest drought of any team in the league.

The Ontario pension is reportedly seeking between C$1.3 billion and C$1.5 billion …

Oak Hill Buying Hillman for $815 Million

Oak Hill Capital Partners has agreed to acquire The Hillman Companies Inc. from Code Hennessy & Simmons, Ontario Teachers’ Pension Plan and certain members of company management. The deal is valued at $815 million, with Hillman’s publicly traded trust preferred securities to remain outstanding on the NYSE-AMEX. Hillman is a Cincinnati-based distributor of hardware items to retail customers.

Ontario Teachers’ Returns Rebound in 2009

TORONTO (Reuters) – The Ontario Teachers’ Pension Plan, one of Canada’s top investors, said on Tuesday the value of its investments bounced back in 2009 after major losses a year earlier, but not enough to stave off a funding shortfall. Teachers’, which administers the pensions of 289,000 active and retired educators in Ontario, said it […]

Ontario Teachers Considers Bid for Northumbrian Water

MSTERDAM/LONDON (Reuters) – Shares in Northumbrian Water (NWG.L) jumped on Monday after a report that a Canadian pension fund could take it private, following a favourable review of water bills by British regulator Ofwat in November. Northumbrian shares rose as much as 14 percent on Monday following a report Ontario Teachers Pension Plan (OTPP), its […]

Ares and Teachers’ Complete Simmons Bedding Buyout

Ares Management and the Ontario Teachers’ Pension Plan have completed their acquisition of Simmons Bedding Co., via a pre-packaged restructuring plan.

The mattress maker had been acquired for $1.1 billion by THL Partners in 2003, but filed for Chapter 11 bankruptcy protection last fall. Simmons now has around $450 million in outstanding debt, compared to around $1 billion last September.

Ontario Teachers To Buy Acorn Education

TORONTO (Reuters) – The Ontario Teachers’ Pension Plan is close to acquiring fast-growing British education company Acorn Education and Care Ltd, which provides facilities for children with special needs, according to a report in the Globe and Mail on Monday. Ontario Teachers’ would acquire Acorn from Phoenix Equity Partners, a London-based private equity group, said […]

Ontario Teachers Buying AIG’s Canadian Mortage Insurance Biz

TORONTO (Reuters) – The Ontario Teachers’ Pension Plan said on Tuesday it is buying AIG Inc’s (AIG.N) Canadian mortgage insurance business, which has assets of C$274 million ($263 million). Teachers, one of Canada’s largest investors, said it is the lead sponsor of a private investor group in the deal to buy AIG United Guaranty Mortgage […]

Report: Bids Are In for Acorn Care and Education

Hg Capital and Ontario Teachers Pension Plan were scheduled to submit final bids on Monday for Acorn Care and Education, a UK-based provider of foster care services and schools for children with learning disabilities, according to the FT. The offers were expected to be worth approximately £150 million. The seller is Phoenix Equity Partners, which […]

Beringer Capital Adds Two

Toronto-based adivsory firm Beringer Capital has added Michael Sifton and Josef Prosperi have joined Beringer as Managing Partners. Sifton was previously President & CEO of Sun Media; Propseri was previously a Director at Teachers’ Private Capital, the private equity division of the Ontario Teachers’ Pension Plan Board. PRESS RELEASE: Beringer Capital is focused on the […]

Ontario Teachers Buys CTV’s Stake in Maple Leaf Sports

TORONTO (Reuters) – The Ontario Teachers’ Pension Plan said on Thursday it is buying a 7.7 percent stake in Maple Leaf Sports and Entertainment from privately held media company CTVglobemedia. Buying out the last of CTVglobemedia’s investment means Teachers will have a 66 percent stake in MLSE, Canada’s largest sports company. Financial terms weren’t disclosed. […]

BCE Sues Would-Be Buyers Over Breakup Fee

TORONTO (Reuters) – Telecom giant BCE Inc (BCE.TO) has sued its would-be buyers in a failed C$34.8 billion ($29.2 billion) takeover agreement over the collapsed deal’s C$1.2 billion ($1 billion) break-up fee. According to a court document filed in the province of Quebec and posted on BCE’s website, the company says it’s entitled to the […]

Alternative Plan for BCE Floated

NEW YORK/TORONTO (Reuters) – Some of the private equity buyers of BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz), Canada’s biggest telecom company, are floating an alternative deal to the C$34.8 billion ($28.3 billion) leveraged buyout that was put in jeopardy a week ago, a source familiar with the situation said. The plan would involve […]

Report: BCE Demands C$1.2 Billion If Buyout Fails

TORONTO (Reuters) – BCE Inc. (BCE.TO: Quote, Profile, Research, Stock Buzz) is demanding that the Ontario Teachers’ Pension Fund pay a C$1.2 billion termination fee if the leveraged buyout of the company fails to go through, as expected, a newspaper reported on Saturday. Citing people familiar with the situation, the Globe and Mail said BCE […]

Ontario Teachers’ CIO Retiring

Robert Bertram will retire as chief investment officer of the Ontario Teachers’ Pension Plan at year-end. He will be succeeded by Neil Petroff, who is currently senior vice president of investments.

Glass Lewis Adds On

Glass Lewis & Co. LLC, a San Francisco-based proxy firm owned by The Ontario Teachers’ Pension Plan, has agreed to acquire political and economic advisory firm Washington Analysis Corp. from Xinhua Finance. No financial terms were disclosed. OTPP originally bought Glass Lewis from Xinhua Finance last year for $46 million.

Canadian LPs Deny Dow Jones Story

The Canada Pension Plan and Ontario Teachers’ Pension Plan are both denying a Dow Jones report that they are part of a group designed to “press buyout firms to give them a greater say over how their money is managed.” The article listed four groups as part of the lobbying effort, including CPP, Ontario Teachers, AlpInvest (Netherlands) and GIC (Singapore). In all the quartet manages over $100 billion of private equity assets.

“It is categorically untrue,” says Deborah Allen, director of communications for Ontario Teachers. “We regularly talk to other LPs — that’s part of our job — but we have no exclusive conversations or organization like was described… I think the technical term would be ‘poppycock.'”

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