Canada Pension Plan Investment Board (CPPIB) has further expanded its U.S.-based multifamily portfolio with more than US$330 million in equity investments in the past year. Recent activity has focused on six Class-A multifamily developments in California, Georgia and Massachusetts with a gross asset value of approximately US$740 million. CPPIB's multifamily portfolio now comprises direct joint venture interests in more than 8,400 units in eight U.S. markets. Since 2011, CPPIB's equity commitments in the sector have totaled US$1.3 billion, representing a gross asset value of US$4.5 billion at full ownership share.
Canadian investment holding firm TerraVest Capital has acquired NWP Industries Inc, a manufacturer of oil and gas processing equipment for customers in Western Canada. The financial terms of the transaction were not published. TerraVest said that the acquisition will be immediately accretive to cash available for distribution by about 10 percent and that future operating efficiencies are likely to accrue. Founded in 1962, NWP Industries is based in Innisfail, Alberta.
Northern Blizzard Resources Inc has completed its previously announced offering of 26.3 million common shares priced at $19.00 per share for total gross proceeds of $500 million. Northern Blizzard's common shares commenced trading on the Toronto Stock Exchange under the symbol "NBZ" on Aug. 8. Part of the offering was a secondary transaction that accounted for $150 million. It was made by existing U.S. private equity investors NGP Energy Capital Management and Riverstone Holdings, which will continue jointly to hold a majority interest in the Calgary-based energy company.
Canadian renewable power investor Brookfield Renewable Energy Partners has completed its previously announced acquisition of the 417 MW Safe Harbor hydroelectric facility. Brookfield Renewable and its institutional partners bought the 67 percent interest in the facility that it did not already own from a subsidiary of Exelon Corp for around US$613 million. Safe Harbor is situated on the Susquehanna River in Pennsylvania and generates an average of 1,100 GWh annually. Brookfield Renewable and its partners took an initial interest in the facility in early 2014 for US$289 million.
Blackstone Group LP is close to a deal to buy a 50 percent stake worth $1.2 billion in a gas field in Louisiana currently owned by Royal Dutch Shell, a source told Reuters.
Global private equity firm CVC Capital Partners has agreed to sell kimchi refrigerator maker WiniaMando Inc for around 150 billion won ($144.73 million) to South Korea's Hyundai Green Food Co, a Hyundai spokeswoman said on Monday.
ClearLight Partners has sold fruit juice maker Apple & Eve to Lassonde Industries for $150 million. The sale price is subject to adjustments for working capital and other issues. ClearLight first invested in Apple & Eve in 2007.
U.S. mid-market private equity firm Hammond Kennedy Whitney & Co (HKW) has bought RST Instruments Ltd, a manufacturer and marketer of geotechnical measurement instruments that serve a wide variety of end markets, including oil and gas, utility, mining and infrastructure. The Maple Ridge, British Columbia-based company was acquired in a recapitalization transaction for an undisclosed amount, one of three such transactions announced by HKW. RST was represented exclusively by Deloitte in the deal. Last September, HKW invested in Calgary's Specialized Tech Inc.
The founder of yoga gear retailer Lululemon Athletica Inc (NASDAQ: LULU), Dennis "Chip" Wilson, has sold about 50 percent of his interest in the company for US$845 million. The buyer is former Lululemon investor U.S. private equity firm Advent International. The sale, which has received the support of the company's board of directors, represents about 13.85 percent of Lululemon's shares. With the deal's closing, Lululemon will expand its board to 12 members to include Advent's David Mussafer and Steven Collins. Advent and Highland Capital Partners invested in the Vancouver's Lululemon in 2005. Advent exited after the company went public in 2007.
An investor group led by Canadian private equity firm Altas Partners has joined with Baring Private Equity Asia in a minority equity investment in St. George’s University (SGU), a Grenada-based international education centre that draws students and faculty from 140 countries. While the investment's value was not disclosed, sources estimate it at US$750 million. The Altas-led group, which included OPTrust Private Markets Group, partnered with SGU management, led by chancellor Charles R. Modica. The SGU deal is the second done by Altas since its 2012 launch by managing partner Andrew Sheiner. Last October, the firm bought NSC Minerals Ltd from Wynnchurch Capital.