MANN+HUMMEL to acquire OMERS-backed Affinia Group

MANN+HUMMEL has agreed to buy Affinia Group, an Ann Arbor, Michigan-based provider of replacement parts for on and off-road vehicles. No financial terms were disclosed. Robert W. Baird & Co served as financial advisor to Affinia on the transaction. Affinia is backed by Cypress Group, OMERS and Northwestern Mutual.

Cast member Chris Pratt poses at the premiere of "Jurassic World" in Hollywood, California, June 9, 2015. REUTERS/Mario Anzuoni

PE HUB First Read

First Read kicks off the week with news that bailout talks between Greece and the EU collapse, OMERS is planning on acquiring a stake in Environmental Resources Management for $1.7 billion and “Jurassic World” breaks records with massive $512 million opening weekend.


Harvest Partners sells DTI

OMERS Private Equity, the PE arm of OMERS, has completed its recap of Document Technologies Holdings. The seller is Harvest Partners. Atlanta-based DTI provides legal process outsourcing services in the U.S.

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Top 10 posts of the week

Trending on peHUB this week: Expa, Harvard, Richard Hall, Garrett Camp, CalPERS, OMERS, Bregal Partners, CalSTRS, Canaan Partners, TPG, Carlyle, Peter Dolan, fundraising, recruiting and breaking into private equity.

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Top 10 posts of the week

Trending on peHUB this week: CalPERS, OMERS, JP Morgan Chase, Russell Investments, HGGC, MassPRIM, Cambridge, TPG Capital, dry powder, VC returns, PE jobs and direct investing.

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CalPERS and OMERS crush it on direct investments

Direct investments by the California Public Employees’ Retirement System and OMERS Private Equity have generated strong returns, suggesting that a recent Harvard Business School paper showing that directs do no better than fund investments won’t end debate on the question.


peHUB First Read

Read all about the latest midweek private equity news including the ex 3i Asia head’s latest project, Castlelake III’s final close, OMERS’ and CalPERS’ strong direct performance and why the term life sciences needs to take a back seat.

Derek Smyth Jumps to OMERS Ventures

OMERS Ventures, the venture capital investment arm of Canada’s OMERS pension plan, announced Monday that it has hired Derek Smyth as a managing director. Smyth worked previously as a partner at Edgestone Capital Partners, and also worked with Bridgescale Partners. The addition of Smyth is the second such announcement this month for OMERS Ventures. The firm recently added former PeopleSoft executive Howard Gwin as a managing director.

OMERS Ventures Adds Howard Gwin

OMERS Ventures, the investment arm of the OMERS pension plan, has added Howard Gwin as a managing director. Previously, Gwin has worked as president of Solect Technology Group and as EVP of Worldwide Operations at Peoplesoft Inc.

OMERS Seals Financing for V.Group

Canadian pension fund Ontario Municipal Employees Retirement System has sealed additional financing for its acquisition of Scotland-based shipping services company V.Group, Reuters reported Friday. HSBC and Citi joined the Royal Bank of Canada in underwriting a $260 million loan for the acquisition. OMERS acquired V.Group in July from private equity firm Exponent for $520 million backed by leveraged loans solely underwritten at the time by RBC, Reuters wrote.


OMERS Opens NYC Office

OMERS, one of Canada’s largest pension funds, has opened an office in New York City. The fund, with $53 billion in net assets, will have a 30-person team working in New York, specializing in real estate, infrastructure, private equity and capital markets.

U.S. Infrastructure Corp Switches Sponsors

Kohlberg & Co. has sold U.S. Infrastructure Corp., a provider of outsourced sub-surface utility locating services in the U.S., to OMERS Private Equity. No financial terms were disclosed for the deal, which was managed by Harris Williams & Co.

OMERS Emerges As Front-Runner for ISS

LONDON (Reuters) – Canadian pension fund Ontario Municipal Employees Retirement System (OMERS) has emerged as favourite to buy port and shipping agent Inchcape Shipping Services (ISS), the FT reported in its Thursday edition. OMERS’ bid to buy ISS comes as a string of other Canadian pension funds move into the buyout business, looking to carve […]

Pick-Up in PE Handoffs a Symptom of “Use It or Lose It”?

Sponsor-to-sponsor deals aren’t always popular, but they’re certainly in vogue right now.

The first quarter of this year saw a surge in sponsor-to-sponsor, or secondary buyouts, in which one private equity firm sells a portfolio company to another private equity firm (or group of firms). Data provider Preqin reports 24 such transactions last quarter worth $7 billion in deal value, compared to just $5.1 billion for 43 deals in all of 2009. And this doesn’t even include a rash of transactions announced today (see below).

What’s driving the activity? First, private equity pros are desperate to do deals. Despite everyone’s peacocking that ’08 and ’09 were “the best investing opportunities of our lives,” most buyout pros were all talk. The deal volume speaks for itself-PE pros were largely on the sidelines during

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