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Vancouver-based Bond Capital has been named to Preqin‘s global list of most consistent performing mezzanine fund managers. Bond, which in May 2015 was tapped to manage the private equity fund of Beedie Capital Partners, was one of three investors to achieve a top score in a peer group of nearly 100 mezzanine firms managing about 200 funds.
U.S. private equity firm Crestview Partners stands to make a bundle on this week’s sale of Canadian auto parts maker Stackpole International, according to a source with knowledge of the matter. Hong Kong’s Johnson Electric Holdings announced that it will pay up to $867 million for Stackpole, which will give Crestview a more than 30 percent internal rate of return, the source said.
Novacap has acquired Hallcon Corp, a specialist in employee transit services, making good on a pledge to expand its pan-Canadian private equity deals through a recently opened office in Toronto. The firm announced this week that Novacap Industries IV bought Hallcon in partnership with the company’s management team, Export Development Canada, BMO Capital Partners and other investors.
Stern Partners, a private equity firm with investment experience in the retail industry, plans to acquire a Canadian clothing chain that has fallen on hard times. Comark, the parent of fashion brands Ricki's, Bootlegger and Cleo, agreed to sell the business to a Stern Partners' affiliate. Founded in 1976, the company has been backed for more than a decade by U.S. private equity firm KarpReilly.
Fulcrum Capital Partners has surpassed the target set for the final close of Fulcrum Capital Partners V LP, raising the largest private equity partnership in the firm's history. The Vancouver-based Fulcrum announced today that Fund V secured a total of $344 million in committed capital from new and repeat limited partners. That’s about 15 percent more than its revised goal of $300 million.
Specialty finance firm Crown Capital Partners has launched a process for raising funds via an IPO and a fourth institutional partnership. If the Calgary-based mezzanine provider is successful on both fronts, it may achieve a new hybrid capital pool of over $400 million. That’s more than the $350 million invested in total by Crown Capital in the past 13 years.
Alliance Consumer Growth (ACG) has made a minority-growth equity investment in Live Better Brands LLC.
Shred-it International, a document destruction services provider majority owned by Birch Hill Equity Partners, filed a preliminary prospectus for an initial public offering this week. The IPO launch comes hard on the heels of an offering made by another Birch Hill portfolio company: Sleep Country Canada.
Canada Pension Plan Investment Board’s US$12 billion deal to buy Antares Capital from General Electric Co marks its largest acquisition to date as the $265 billion retirement system looks to add a “large, scalable and growing opportunity” offered by the largest player in U.S. middle-market loans, a key CPPIB executive told Buyouts. The Antares purchase price implies a premium of US$600 million on the book value of the business and its loans.
Veronis Suhler Stevenson is attempting something unique – it is trying to restructure every active fund it currently manages.