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ARC Financial Corp, the Calgary-based investor in Canadian oil and gas projects, is approaching a first close on about $1 billion for its eighth private equity fund, according to a source familiar with the firm. Headed by Co-CEOs Kevin Brown and Lauchlan Currie, ARC Financial waded into the fundraising market about 10 weeks ago for ARC Energy Fund 8, which is targeted to raise about $1.5 billion in total.

Torys LLP's Sophia Tolias, Stefan Stauder and Laurie Duke argue that the structure of Canadian private equity deals has changed due to the influence of 2014's seller's market. In the third of a series of peHUB Canada articles, they note that indemnity terms and the growing use of representations and warranties insurance are just two important examples of this trend.

Torys LLP partners Neville Jugnauth, Derek Flaman and Matthew Cockburn believe that the scope of private equity investment in Canada was widened in 2014 to include some areas of new or intensified interest, such as natural resources. In the second of a series of peHUB Canada articles, they argue that this broader market focus, and alternative strategies for doing new deals, will continue in 2015.

Canadian private equity firm TriWest Capital Partners has raised $500 million in the final close of TriWest Capital Partners Fund V LP, targeted to investments in mid-market companies based in Western Canada. Cody Church, senior managing director of TriWest Capital, said Fund V was oversubscribed, with commitments coming from new and existing North American LPs. The fund is the largest raised in the Calgary-based firm's 17-year history, exceeding by 43 percent the $350 million secured by Fund IV (2012).

Co-investment opportunities have lately gained in popularity among institutional investors and other limited partners with increased leverage in private equity funds. As it happens, co-investments have also proved appealing to many PE fund sponsors. Torys LLP believes there is every reason to expect this trend to accelerate in 2015.

Two Canadian private equity firms expect to see windfall earnings from Killick Aerospace's forthcoming sale of four aviation support businesses to VSE Corp. The deal promises an especially strong return to Killick Aerospace’s majority investor, Killick Capital, a private equity firm based in St. John’s, Newfoundland and Labrador that was founded by former CHC Helicopter chairman Mark Dobbin.

Hooters of America, the restaurant chain known for its scantily clad waitresses, has gone on the block, three sources said.

Brookfield Asset Management is in the market raising its fourth middle-market focused private equity fund targeting US$3.5 billion, according to a person with knowledge of the situation and a fundraising document seen by peHUB. Brookfield Capital Partners IV will include about US$1 billion from Brookfield, said the source, an LP who has heard the fund pitch.

This week's job opportunities include vice president positions at Neuberger Berman and StepStone. Plus, Sailing Capital Advisors is seeking a private equity investment analyst.

Middle market private equity firms are reinventing their organizations to ensure they see every relevant deal, says Peter Lehrman of Axial.