Dundee Sarea collects C$112.5 mln for debut “special situations” fund

By Iris Dorbian — 2 months ago

Dundee Sarea Limited Partnership, a “special situations”-focused private equity firm, has raised C$112.5 million for its initial fund. Dundee Sarea Acquisition 1 Limited Partnership is targeting over C$200 million. Its limited partners include Caisse de dépôt et placement du Québec. The fund will invest in companies requiring turnaround expertise in North America and Europe, focusing on manufacturing, distribution, industrial products, agriculture, oil and gas, and forestry-related sectors. So far the fund has made an undisclosed investment in Redecam Group, an air filtration company.


Bombardier turns to Caisse for cash: Reuters

By Reuters News — 2 months ago

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

By Iris Dorbian — 6 months ago

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

By Iris Dorbian — 6 months ago

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.


TPG to take majority of Cirque du Soleil

By Luisa Beltran — 7 months ago

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

By Connie Loizos — 3 years ago

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

By Angela Sormani — 4 years ago

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

By Luisa Beltran — 4 years ago

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

By Gregory Roth — 4 years ago

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.