Wynnchurch Capital and Caisse de dépôt et placement du Québec Back Groupe Moreau

Wynnchurch Capital of Montreal has joined forces with the Caisse de dépôt et placement du Québec to make an equity investment in Groupe Moreau, a Quebec-based contractor specializing in electrical, structural, piping and mechanical services in the industrial sector. Terms of the deal were not disclosed. PRESS RELEASE: Wynnchurch Capital has joined forces with the […]

Spie Announces Offering

SPIE has announced an offering of 375 million euro ($500.9 million) senior notes due 2019 by SPIE Bondco 3 S.C.A., its indirect parent company. The proceeds of the offering will be used to repay amounts outstanding on a bridge loan facility used to finance the acquisition of Financière SPIE by Clayton, Dubilier & Rice, AXA […]

Onex, Caisse Team Up For AXA PE While Carlyle Walks Away

Just a short update on the auction of AXA PE.

Onex Corp. is teaming up with Caisse de Depot et Placement du Quebec, the Canadian pension plan, to make a bid for AXA PE, two sources say. KKR is still interested while several sources confirm that BlackRock has dropped out.

peHUB, earlier this month, reported that BlackRock was no longer involved in the auction.

Pricing for AXA PE is aggressive and has caused some “natural players” to bow out, one banker says. The Carlyle Group, which agreed to buy a 60% stake in AlpInvest Partners earlier this year, was expected to vie for AXA PE.

PE Chief at AXA Urging a Management-Led Buyout

As AXA gears up for a possible sale of its private equity unit, executives at the company could find themselves borrowing from The Carlyle Group’s playbook. AXA Private Equity, and particularly its chief executive, Dominique Senequier, are known to be seeking a management-led buyout financed in large part by one of its suitors.
[caption id="attachment_121431" align="alignright" width="180" caption="Dominique Senequier"]Dominique Senequier[/caption]
Such a structure is exactly what Carlyle agreed to when it acquired a 50 percent voting stake (and 60 percent of the equity) in AlpInvest Partners, one of Europe’s largest fund-of-fund managers, earlier this year. For Carlyle, the merger helped to diversify its slate of businesses, and more importantly, helped to increase its tally of assets under management prior to its expected IPO next year.

For AXA Private Equity’s investors, a management-led buyout would offer incentives for keeping employees on board, something especially crucial in an era of “key-man” provisions. Senequier’s preference for a management-led buyout was first reported in the Financial Times.

CD&R and Partners Complete SPIE Acquisition

Clayton, Dubilier & Rice (CD&R) and its partners AXA Private Equity and Caisse de dépôt et placement du Québec today announced the closing of the acquisition of French based multi-technical services company, SPIE, from PAI partners for  €2.1 billion. CD&R-managed funds, including co-investment vehicles, invested approximately €510 million; AXA Private Equity and Caisse de depot et placement […]


TouchTunes Closes $45M Series E Round at $300M Valuation, CEO Confirms

TouchTunes Interactive Networks, a digital jukebox maker, has completed a $45 million Series E funding round that gives the company a pre-money valuation of $300 million, TouchTunes CEO Charles Goldstruck told peHUB. 3i, the UK-based PE firm, is investing $40 million in the company, while VantagePoint Capital Partners, which owns a majority of TouchTunes, is […]

Caisse looks to sell $800M of private equity funds

Canadian pension fund manager Caisse De Depot Et Placement Du Quebec intends to sell almost $800 million in private equity funds, according to a report in The Wall Street Journal. The funds come in the form of buyout and venture-capital funds. According to the WSJ, the deal may be completed with third-party financing. It also points out that Caisse backs managers including Accel Partners, AXA Private Equity, Blackstone Group, Carlyle Group, Wynnchurch Capital, BC Partners and Genstar Capital. More here …

Caisse AUM Bounces Back

Canada’s biggest pension fund manager, Caisse de depot et placement du Quebec, said on Thursday its assets under management had recovered nearly 10 percent of their value in 2009, but were still below pre-crisis levels.

Caisse de depot Unveils Refinancing Plan

TORONTO (Reuters) – Caisse de depot et placement du Quebec announced a multibillion-dollar borrowing plan on Friday to refinance the giant Canadian pension fund’s short-term debt as it fortifies balance sheets decimated by the global crisis. The Montreal-based Caisse, once Canada’s biggest pension fund manager by far, said the refinancing program could see it issue […]

Caisse Hires New CIO

TORONTO (Reuters) – Caisse de Depot et Placement du Quebec, one of Canada’s biggest pension fund managers, said on Thursday it had hired a new chief investment officer, in its latest management move since it announced multibillion-dollar losses earlier this year. The Caisse, which managed C$120.1 billion ($111 billion) in assets at the end of […]

Stageline Raises C$4 Million

Stageline Group, a Canadian maker of hydraulic covered mobile stages, has raised C$4 million in VC funding from the Caisse de dépôt et placement du Québec. www.stageline.com

Quebec’s Caisse Launches VC Fund

RONTO (Reuters) – Caisse de depot et placement du Quebec, one of Canada’s largest pension fund managers, said on Monday it launched a venture capital fund with the Quebec government that could be worth as much as C$825 million ($676 million). The so-called Teralys Capital Fund is a joint initiative of the Caisse and the […]

Quebec Names New Caisse Head

OTTAWA (Reuters) – The Canadian province of Quebec named a former business executive and bureaucrat on Thursday to head its troubled public pension fund, which posted a record multibillion-dollar loss in 2008. The new chairman of Caisse de depot et placement du Quebec is Robert Tessier, the former chief executive of gas distributor Gaz Metro […]

Quebec Scraps Investigation Into Pension Fund Loss

OTTAWA (Reuters) – The French-speaking Canadian province of Quebec scrapped plans on Wednesday for a parliamentary investigation into how the country’s biggest pension fund lost a record C$39.8 billion ($31 billion) in 2008, public broadcaster Radio-Canada said. The Liberal provincial government announced the investigation last week, shortly after the Caisse de depot et placement du […]

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