Deal of the Week
DOTW (Profile) – DFC Cash Management Fund
NT Global Advisors managed DFC Cash Management Fund, a Diversified Fund of Canada family fund, became the first investment fund to report over $1 billion in fundraising in 2022
DOTW (Profile) – Canso Corporate Value Fund
Canso Corporate Value Fund, one of $1 billion+ fundraising investment funds in 2021, reported 2022 fundraising of $763 million, down 43% from $1.33 billion in 2021.
DOTW (Profile) – Canoe Global Private Equity Fund
Canoe Financial LP's Canoe Global Private Equity Fund, managed by Fiera Comox Partners, raised $122M since inception.
DOTW – Bain Capital Asia Fund V initial close
Bain Capital held initial (or final) close for its fifth Asia focused buyout fund. Canadian investors, including British Columbia Investment Management Corporation (BCI) and CPP Investments, committed US $377M as part of the close. Stikeman Elliott LLP acted as Canadian legal counsel to Bain Capital.
DOTW – Canadian pension funds’ $1B investment in BMO
CDPQ, OMERS, AIMCo, HOOPP, PSP Investments, CPP Investments received $35M in commitment fees in connection with their $1B equity investment in Bank of Montreal (TSX/NYSE: BMO). BMO Nesbitt Burns/BMO Capital Markets and Osler, Hoskin & Harcourt LLP acted as financial and legal advisors to BMO.
DOTW (Profile) – Kensington Private Equity Fund 2022 fundraising
Kensington Capital Partners Limited's Kensington Private Equity Fund raised $306M (Jan-Nov 2022) from investors from 10 Canadian provinces, Israel and USA.
DOTW – CDN investors invested ArcelorMittal’s US $2.2B bond offering
2 ON, 1 BC, 1 QC investors invested US $85M in ArcelorMittal's US $2.2B bond offering. J.P. Morgan Securities LLC received CDN $454K in commissions for Canadian portion of its allocation. Osler, Hoskin & Harcourt LLP acted as Canadian legal counsel to J.P. Morgan.
DOTW – CDN investors invested 26% of CDP Financial’s $1.25B offering
Quebec and Ontario invested $144M and $180M in CDP Financial's CDN $1.25N offering, with remaining 74% from unknown foreign investors whom Canadian securities regulators have no desire in knowing. Desjardins Securities led the offering. Davies Ward Phillips & Vineberg and Shearman & Sterling represented CDP and the agents respectively.
DOTW – Inter Pipeline’s $1.25B debt offering
Canadian Financings DOTW: Inter Pipeline Ltd. (TSX: IPL) closed All-Canadian private placement of $1.25B of Senior Unsecured Notes led by CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc. Burnet, Duckworth & Palmer LLP acted as legal counsel to Inter Pipeline.
DOTW – OMERS Realty closes $562M debt offering
Canadian Financings (DOTW) - OMERS Realty Corporation, real estate investment arm of Ontario Municipal Employers Retirement System (OMERS), closed new $562M debt offering led by RBC Capital Markets, Scotiabank, CIBC Capital Markets and TD Securities.
