Members of the private equity fund industry are under increasing pressure from investors and regulators to enhance transparency in fees and expenses and other key aspects of their operations. In a PE Hub Canada exclusive, Torys LLP's Amy Johnson-Spina, Cameron Koziskie, Shannon Gotfrit and André Nance examine the factors that are driving this trend and how fund managers in North America are responding.
Corus Entertainment Inc this month closed its $2.65 billion buy of Shaw Media Inc. In a PE Hub Canada feature, Catalyst Capital Group's Newton Glassman, Gabriel de Alba and Jim Riley explain why the Toronto-based private equity firm, a Corus minority shareholder, opposed the deal. They also discuss why it raises concerns about how capital market transactions are regulated in Canada.
New Jersey has an aggressive policy prohibiting investment managers working with the state pension from making political contributions to state officials. And that’s a good thing. Violations of the policy can lead to the system ending its relationship with the manager in question. In a recent case, CVC Capital Partners was called out after one […]
Crosbie & Co this month released a new report on North American private equity deal-making and what recent activity tells us about trends in Canada's M&A market. In a PE Hub Canada exclusive, Crosbie Managing Director Richard Betsalel shares some of the report's findings, which suggest much opportunity, especially if you're in selling mode, but also a few challenges that seem oddly familiar.
Hycroft, a three-year-old New York investment bank serving both general partners and limited partners, has splashed into the principal investment business, launching a fund earmarked to purchase minority stakes in the management companies of mid-market buyout shops. Hycroft Capital LP set sail with a $750 million target in January, according to a source familiar with the fund. The effort is still […]
American investors are a major force in Canada's private equity market, Torys LLP's Amanda Balasubramanian and Jonathan Wiener write. But when they undertake deals in Canada, U.S. investors encounter big differences in debt terms relative to south of the border. Balasubramanian and Wiener discuss these differences and what they mean for future deal-making.
It’s perhaps inevitable that we would write a story on women in private equity and receive a nasty anonymous email in response. I won’t go into the details, but suffice to say it wasn’t supportive of women. To be sure, the nasty email was only one of many responses we received on our work — […]
Despite my best intentions to get to the bottom of every story, I’ve recently run into a handful of private equity funds whose strategies and capital sources remain unfathomable. My calls and research led to some tantalizing tidbits but incomplete narratives. Pantheon Ventures manages $400 million for two mystery investors Pantheon Ventures, the London fund-of-funds manager with $32 billion in assets under management, filed Form Ds with […]
The push for complete transparency in private equity just gained a major ally: The Pew Charitable Trusts. Pew, a nonprofit research organization, recently released a study that advocates for the public disclosure of private equity fees and expenses, including carried interest. Transparency is vital for an industry that has become increasingly important to the fiscal health of […]
A decision last August by the National Labor Relations Board continues to throw into question the tidy arm’s length relationship that private equity shops have maintained with their portfolio companies. Under a worst case scenario, sponsors may find themselves involved in collective bargaining with unions at portfolio companies, liable for any unfair labor practices, and on the hook for pension contributions. […]