Deal of the Week

DOTW (Profile) – DFC Cash Management Fund

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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

CPE Analytics

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.