AWAS to sell aircraft portfolio to Macquarie Group for $4 bln

AWAS, which is backed by Terra Firma and Canada Pension Plan Investment Board (CPPIB), has agreed to sell a portfolio of 90 aircraft to Macquarie Group Limited. The purchase price is $4 billion. The portfolio being sold comprises a fleet of 90 young, predominantly narrow-body aircraft. Dublin-based AWAS, one of the biggest aircraft lessors, is 75 percent owned by Terra Firma and 25 percent by CPPIB. Goldman Sachs and Deutsche Bank acted as financial advisors to AWAS.


Canadian pension PSP gets major LP for CEO

Public Sector Pension Investment Board (PSP Investments) has named André Bourbonnais, the private equity chief at Canada Pension Plan Investment Board, as its new president and CEO, effective March 30, 2015.


Hony Capital and Goldman Sachs to back two Neusoft subsidiaries

Hony Capital and Goldman Sachs have agreed to invest in two of Neusoft Corp‘s healthcare subsidiaries Neusoft Medical Systems and Neusoft Xikang. According to terms of the agreement, Hony Capital, Goldman Sachs, Neusoft Holdings, Canada Pension Plan Investment Board, Frontline BioVentures and other investors will provide 1.6 billion RMB to Neusoft Medical Systems. They will also pay 1.13 billion RMB to buy part of Neusoft Corp’s equity stake in Neusoft Medical Systems. And, Hony Capital, Goldman Sachs, Neusoft Holdings and other investors will provide $170 million in financing to Neusoft Xikang. Following the closing of these deals, Neusoft Corp. will hold a 33.35 percent equity stake in Neusoft Medical Systems and a 32.81 percent equity stake in Neusoft Xikang.

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JW Childs bags $596 mln from CPPIB

JW Childs has received $477 million from CPPIB for its third fund. Also, CPPIB has agreed to invest $119 million in JW Childs’ fourth fund, which targets $450 million. JW Childs focuses mostly on mid-market companies in the consumer products, specialty retail and healthcare services sectors in North America.


Canada pension board buys insurer Wilton Re for $1.8 bln

The Canada Pension Plan Investment Board (CPPIB) has agreed to buy U.S. life insurance and reinsurance provider Wilton Re Holdings Ltd for $1.8 billion from a group of private equity firms, the first foray by the global deal-maker into the U.S. insurance business.


LPs approve restructuring J.W. Childs Fund III

A majority of limited partners in J.W. Childs Associates’s third fund have approved a restructuring led by the Canada Pension Plan Investment Board and Goldman Sachs Group Inc that will transfer five remaining portfolio companies into a newly capitalized vehicle, according to three people with knowledge of the deal.

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Click on this morning’s First Read to find out more about Blackstone’s new head of PE, an energy gold rush and why America is concerned with getting fat.

CPPIB Takes Stake in Gassled Joint Venture

A consortium of investors including CPPIB has completed the acquisition of a 24.1% stake in the Gassled Joint Venture from Statoil ASA. The buyer is Solveig Gas Norway AS, a holding company that is approximately 40% owned by CPPIB; 30% by Allianz Capital Partners, a subsidiary of Allianz SE; and 30% by Infinity Investments SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority. The total value of the transaction is approximately C$3.18 billion.

Yahoo Sale Process Heats Up as TPG, Other PE Firms Sign NDAs

(Reuters) – Yahoo has signed confidentiality agreements with several parties interested in buying all or part of the Internet company, according to people familiar with the matter. The Sunnyvale, Calif.-based Internet pioneer said potential buyers had to sign an agreement by Friday to be allowed a close look at Yahoo’s finances. The Friday deadline could […]

What, Goldman Woori? GS Jumps in With a Bid

(Reuters) – U.S. investment bank Goldman Sachs Group Inc and Canada Pension Plan Investment Board have decided to join private equity firm MBK Partners in a bid for Woori Finance Holdings Co Ltd, the country head of MBK Partners said. Yoon Jong-ha told Reuters in an interview that in the race for South Korea’s biggest […]

Canada Pension Plan Buys Another Shopping Mall

The Canada Pension Plan Investment Board paid $482 million for a 50% stake in a shopping mall near Melbourne, Reuters reported Thursday. The Canada Pension Plan will partner with Australia’s Colonial First State Retail Property Trust, which owns the remaining 50% stake, to manage the center. This is the third such deal for CPPIB in recent weeks. In mid-May, the board said that it paid $386 million for a 50% stake in a German shopping and leisure center. At the same time, it bought 36.9% of Mayflower partnership, which owns a portfolio of 13 regional malls located in the United States.

Canadian Pension Reaps Skype Bounty

Some Canadian pensioners can retire a little easier knowing that the $146 billion Canada Pension Plan Investment Board stands to gain a huge 3x-plus return of about $930 million from the sale of its direct stake in Skype Technologies to Microsoft. The investment seems to be a major validation of the strategy of several large Canadian pensions to take large, direct stakes in private companies.

CPPIB was one of three investors that together bought a 65 percent stake in Skype from Ebay in 2009, the others being buyout shop Silver Lake and venture firm Andreessen Horowitz. Skype’s founders and Ebay retained the rest of the company, about 35 percent.

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