CVC, CPPIB to buy Petco for $4.6 bln

By Luisa Beltran — 2 months ago

Petco Animal Supplies Inc. said Monday that CVC Capital Partners and Canada Pension Plan Investment Board have agreed to buy the pet retailer for about $4.6 billion. TPG and Leonard Green & Partners are the sellers. San Diego-based Petco is a specialty retailer of premium pet food, supplies and services. Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as financial advisors to Petco. Barclays, Citigroup and Moelis acted as lead financial advisors to CVC and CPPIB.  Barclays, Citigroup, Barclays, Royal Bank of Canada, Credit Suisse, Nomura and Macquarie provided committed debt financing to CVC and CPPIB.

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CPPIB, BC Partners to invest in Altice’s $17.7 bln buy of Cablevsion

By Luisa Beltran — 3 months ago

Canada Pension Plan Investment Board and BC Partners, along with co-investors, have agreed to invest about 30 percent of the equity in Altice’s $17.7 billion agreement for Cablevision Systems Corp. CPPIB and BC Partners are exercising their option to participate in the Cablevision deal as part of their agreement to sell to sell a majority of Suddenlink to Altice, announced in May, for $9.1 billion. CPPIB and BC Partners will each fund 12 percent of the Cablevision acquisition, about $400 million each, with the balance funded by co-investors. The transaction is expected to close in the first half of 2016.

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Neiman Marcus leaves IPO bankers hanging: Reuters

By Reuters News — 4 months ago

Investment bankers put on their best business attire to pitch luxury department store operator Neiman Marcus Group Inc for underwriter roles in an initial public offering. Yet more than a month after their beauty parade, banks are still in the dark, Reuters News reported.

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CPPIB buys 21.5% stake in Homeplus for $534 million

By Luisa Beltran — 5 months ago

Canada Pension Plan Investment Board has agreed to buy a roughly 21.5 percent stake in Homeplus for $534 million. CPPIB said the investment is part of a consortium deal led by MBK Partners. Tesco agreed to sell Homeplus, its South Korean business, to a group led by MBK for $6.1 billion, Reuters News reported.

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Costello rejoins AlpInvest Partners

By Luisa Beltran — 8 months ago

Neal Costello has rejoined AlpInvest Partners as a Managing Director on its Secondary Investments team. Costello is now a member of AlpInvest’s Investment Committee. Costello previously worked for AlpInvest from 2003 to 2013. He was most recently a Senior Principal at the Canada Pension Plan Investment Board. AlpInvest is backed by the Carlyle Group.

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GE to sell private equity lending unit to CPPIB in $12 bln deal

By Luisa Beltran — 8 months ago

GE said Tuesday that it has agreed to sell its U.S. Sponsor Finance business plus a $3 billion loan portfolio to Canada Pension Plan Investment Board (CPPIB). The transaction is valued at $12 billion. The deal includes Antares Capital, GE Capital’s lending business to private equity-backed middle market companies. Antares will operate as a stand-alone business led by managing partners David Brackett and John Martin. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. provided financial advice.

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BC Partners, CPPIB to sell 70% of Suddenlink to Altice

By Luisa Beltran — 9 months ago

BC Partners, Canada Pension Plan Investment Board and other co-investors have agreed to sell a 70 percent stake in Suddenlink Communications to Altice S.A. The transaction implies a total enterprise value of about $9.1 billion for Suddenlink. Once the deal closes, BC Partners and CPPIB will each receive $960 million in proceeds and a vendor note of about $200 million. CPPIB and BC Partners will each retain a 12 percent stake in the company. St. Louis-based Suddenlink is the seventh-largest cable system operator in the United States. LionTree Advisors acted as financial advisor to Suddenlink.

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