Bombardier turns to Caisse for cash: Reuters

Bombardier Inc (BBDb.TO) is in discussions with the Caisse de depot et placement du Quebec, which manages Quebec’s public pension plans, on a deal that could inject more cash into the troubled plane and train maker, sources told Reuters News.

Caisse de dépôt invests $53 mln in Canadian airport

Caisse de dépôt et placement du Québec has made a $53 million investment in Québec City Jean Lesage International Airport. The capital infusion will be used for the airport’s expansion and maintenance projects. Caisse’s investment is part of the airport’s private funding of about $265 million.


TIAA-CREF and GWR form Global Timber Resources

TIAA-CREF and GreenWood Resources, which is owned by TIAA-CREF, have launched Global Timber Resources LLC, a $667 million global timber company. Its backers include TIAA General Account, Caisse de dépôt et placement du Québec, AP2 and the Greater Manchester Pension Fund. GTRCo will focus on investing in timberland assets in areas that include North America, Latin America, Europe and Asia.


Morgan Stanley Infrastructure to sell Southern Star Central Corp.

Morgan Stanley Infrastructure said Friday it has agreed to sell Southern Star Central Corp. to GE Energy Financial Services and Caisse de dépôt et placement du Québec. Financial terms weren’t announced. Owensboro, Kentucky-based Southern Star is a natural gas pipeline company.


TPG to take majority of Cirque du Soleil

Cirque du Soleil said Monday that TPG Capital is buying a majority holding in the company while Guy Laliberté, Cirque’s founder, will maintain a stake in the business. Fosun Capital Group, owned by Chinese conglomerate Fosun International Ltd., and Caisse de dépôt et placement du Québec will each have a minority. Financial terms weren’t announced but press reports peg the deal at $1.5 billion. Cirque, a theatrical production company, will retain its headquarters in Montréal. Goldman Sachs advised Cirque.

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 …

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