Brad Meikle

Spectral Medical Inc (TSX: EDT), a Canadian developer of treatments for endotoxemic septic shock, has closed a bought deal financing that generated gross proceeds of over $10 million. Canadian private equity firm Birch Hill Equity Partners participated in the offering, as did Toray Industries Inc. With the offering's closing, Birch Hill will own about 16 percent of Spectral's issued and outstanding shares. The company, which is based in Toronto, said it would use the proceeds to complete its sepsis-focused theranostics trial, commercialize its therapeutic hemoperfusion device, and other purposes.

Canada Pension Plan Investment Board (CPPIB) and Welltower Inc (NYSE: HCN) have formed a joint venture to buy a 97.5 percent interest in a portfolio of seniors housing properties in Florida, known as Aston Gardens. The purchase price for the interest was US$555 million. With the deal's closing, CPPIB owns 45 percent of the joint venture, while Welltower owns the rest. Ashton Gardens, which consists of six private-pay, primarily independent-living senior living communities, is operated by Discovery Senior Living (DSL). DSL holds a 2.5 percent stake in the properties.

Canadian private equity firm Penfund has provided $20 million in additional funding to GoodLife Fitness Centres Inc, a London, Ont.-based manager of over 350 fitness clubs located across Canada. The funding, which expands Penfund's $70 million second lien credit facility with Goodlife, announced last year, will support the company's new club program with an emphasis on its value banners: Fit4Less by GoodLife and Éconofitness by Énergie Cardio. To date, Penfund has provided and arranged $330 million of junior debt to GoodLife in six separate deals. The company is also backed by Manulife Capital, the private equity arm of insurance and financial services provider Manulife.

Canadian private equity firm Penfund has invested US$47 million of second lien debt and equity in Forefront Dermatology, a provider of practice management services to dermatology clinics. The investment was made in support of OMERS Private Equity's previously announced acquisition of the Manitowoc, Wis.-based company from Varsity Healthcare Partners. Toronto-based Penfund, a provider of junior capital to mid-market companies in the United States and Canada, has partnered with OMERS in the past. In late 2013, Penfund extended a loan to Caliber Collision Centers Inc shortly after its acquisition by OMERS.

Canada Pension Plan Investment Board (CPPIB) and Singapore's Global Logistic Properties (GLP) have set up a 100 billion yen (US$880 million) fund to develop modern warehouses in Japan, their second joint venture in the country, Reuters reported. Helped by debt financing, the fund's assets are expected to reach US$2 billion over three years, CPPIB and GLP said.

BMO Harris Bank has announced that it was administrative agent, joint lead arranger and joint lead bookrunner for US$195 million in first lien credit facilities to support the acquisition of Forefront Dermatology by OMERS Private Equity. Madison Capital and NXT Capital served as joint lead arrangers and joint lead bookrunners on the deal. Earlier this month, OMERS agreed to buy Manitowoc, Wis.-based Forefront from Varsity Healthcare Partners for an undisclosed sum.

Australian ports and rail giant Asciano Ltd formally dumped an A$8.9 billion (US$6.4 billion) buyout from Brookfield Asset Management after the Toronto-based firm failed to match a higher offer from local rival Qube Holdings Ltd, Reuters reported. Qube has made its offer to buy Sydney-based Asciano in partnership with Canada Pension Plan Investment Board, China Investment Corp and Global Infrastructure Management.

Canada Pension Plan Investment Board (CPPIB) has agreed to acquire an interest in Grand Central Shopping Centre, a British regional shopping space. CPPIB acquired the stake for £175 million ($350 million) in a 50:50 joint venture with British property development and investment firm Hammerson. Grand Central, which opened in September 2015, provides 435,000 square feet of retail space in Birmingham, the United Kingdom's second largest city.

Canadian alternative assets manager Brookfield Asset Management reported that its private funds raised US$12 billion in 2015. It said it expects to wrap up private equity fundraising activity in early 2016. As reported by PE Hub Canada early last year, the firm has been marketing its fourth mid-market private equity fund, Brookfield Capital Partners IV LP, which is said to be targeting US$3.5 billion in commitments. In its report on 2015 financial results, Brookfield also said it expects to complete the public listing of Brookfield Business Partners in the first half of this year. The listing is intended to supply on-going capital for the expansion of the firm's private equity platform.

OMERS Private Equity (OPE) has agreed to sell Marketwired LP, a Toronto-based news distribution and social communication solutions provider, to Nasdaq Inc. No financial terms were disclosed; however, Reuters reported last October that Marketwired's potential sale could value the business for as much as US$200 million. OPE, the private equity arm of the Ontario Municipal Employees Retirement System (OMERS), has backed Marketwired since 2006. Michael Graham, senior managing director of OPE, said its sale is "a logical step in the company's evolution." In 2015, Marketwired spun off its social media analytics affiliate Sysomos. Sysomos will remain under OPE's ownership.