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 2022Continue Reading
Canadian Financings – Crypto and SPAC focused investment funds experienced substantial drop in fundraising in 2022 from 2021.
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Starboard Value LP to invest US $500M in Ritchie Bros. Auctioneers Incorporated. Starboard CEO Jeffrey Smith will join Ritchie Bros. board of directors following approvals by Ritchie Bros. shareholders and closing of pending acquisition of IAA, Inc.
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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.Continue Reading
Canoe Financial LP’s Canoe Global Private Equity Fund, managed by Fiera Comox Partners, raised $122M since inception. Continue Reading
5 mining IPOs on Canadian Securities Exchange (CSE) prevented total collapse of Canadian IPO market in Q4 2022. 2022: CSE led with 26 IPOs or 62% of non-CPC/SPAC IPOs; 31 mining IPOs accounted for 74% of non-CPC/SPAC IPOs. Continue Reading
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. Continue Reading
Q4 2022 Canadian VC is poised to easily reach $2.2B mark, primarily driven by investments from US and international investors. As of 2022 year-end, $2.18B was tallied for Q4 and $8.19B for year 2022. (preliminary)Continue Reading
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. Continue Reading
Kensington Capital Partners Limited’s Kensington Private Equity Fund raised $306M (Jan-Nov 2022) from investors from 10 Canadian provinces, Israel and USA. Continue Reading
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. Continue Reading
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. Continue Reading
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. Continue Reading
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. Continue Reading
BC based MICs, private REITs, and Syndicated Mortgage Funds raised $2.7B from Canadian and foreign investors in 1st nine months of 2022. BC investors invested $2B (74%) while Chinese investors led all international investors with $22.7M. Continue Reading
Xanadu secured US $100M Series C funding led by Georgian with participation from Porsche Automobil Holding SE, Forward Ventures, Alumni Ventures, Pegasus Tech Ventures, Bessemer Venture Partners, Capricorn, BDC Capital, Tim Draper and Silicon Valley Bank (debt). Continue Reading
Canadian VC continued downward spiral reaching $950M in Q3 2022 and $5.86B for first nine months of 2022. US investor share decreased from 56% in Q1 to 45% in Q3, any further drop would drag the total amount down further in Q4 2022. Continue Reading
