CPP Investment Board

Renewi plc: Response to Rule 2.8 termination announcement from Macquarie Asset Management

Retrieved on:

Friday, October 27, 2023

Capital market, Policy, Development, FOR, EBITDA, UK Municipal Bonds Agency, NOT, EBIT, The Takeover Code, COVID, Macquarie Group, CPP Investment Board, ROCE, Soil, Recycling, Security (finance), Renewi, Macquarie

As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.

Key Points:

As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.
The Board carefully assessed this Revised Proposal with its advisers and also considered the recent feedback it had received from Renewi shareholders.
The Board rejected this Revised Proposal on the basis that it continued to fundamentally undervalue Renewi and its prospects.
However, the price level of the Revised Proposal did not provide a basis to provide Macquarie with access to due diligence.

LANGAN ANNOUNCES PARTNERSHIP WITH TOWERBROOK CAPITAL PARTNERS

Retrieved on:

Thursday, October 26, 2023

Blackstone Credit, CPP Investment Board, Ecosystem, TowerBrook Capital Partners, Investment, Growth, Partnership, Culture, SMBC, CPP

PARSIPPANY, N.J., Oct. 26, 2023 /PRNewswire/ -- Langan Engineering & Environmental Services ("Langan") today announced that investment funds managed by TowerBrook Capital Partners ("TowerBrook"), the New York and London-based international investment firm, have entered into a definitive agreement for a minority investment in the company. Under the terms of the agreement, Langan's management and employee shareholders will maintain majority ownership and control of the company.

Key Points:

PARSIPPANY, N.J., Oct. 26, 2023 /PRNewswire/ -- Langan Engineering & Environmental Services ("Langan") today announced that investment funds managed by TowerBrook Capital Partners ("TowerBrook"), the New York and London-based international investment firm, have entered into a definitive agreement for a minority investment in the company.
The investment will enable strategic and operational enhancements to provide elevated service to Langan clients while creating career growth opportunities for Langan staff.
We found TowerBrook's reputation and resources best suited to help Langan achieve our strategic goals," said David T. Gockel, President/CEO of Langan.
"We are thrilled to partner with Langan, a firm whose growth and success have been impressive," said Walter Weil, Managing Director, TowerBrook.

EQS-News: Atlantic BidCo launches public tender offer to initiate the delisting of Aareal Bank – Shareholders can tender remaining shares from today

Retrieved on:

Thursday, October 26, 2023

Frankfurt Stock Exchange, Aareal Bank, TEL, FGS Global, FGS, 2021 German federal election, Centerbridge Partners, Software, CPP Investment Board, Advent International, CET, Bidding, Federal Financial Supervisory Authority, Holding company, Cryptocurrency, Automotive industry

Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.

Key Points:

Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.
Frankfurt, 19 October 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) today published a public delisting tender offer (the “Delisting Offer”) for all remaining outstanding shares of Aareal Bank AG (“Aareal Bank”).
During this time, Aareal Bank shareholders can accept the Delisting Offer and tender their shares to the Bidder.
Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.

AM Best Removes from Under Review with Developing Implications and Affirms Credit Ratings of Sagicor Financial Company Ltd. and Certain Subsidiaries; Downgrades Credit Ratings of ivari

Retrieved on:

Friday, October 20, 2023

Concurrently, AM Best has maintained the under-review status for these ratings and revised the implications status to developing from negative.

Key Points:

Concurrently, AM Best has maintained the under-review status for these ratings and revised the implications status to developing from negative.
These rating actions follow an announcement from Sagicor Financial Company Ltd. that it has completed the acquisition of ivari from Wilton Re Ltd.
Sagicor Life Inc. has a long record of consistent profitability and benefits from strong brand recognition in its operating countries.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

By the Numbers: How Private Equity Scores on Sustainability

Retrieved on:

Monday, October 23, 2023

Sustainability, CPP Investment Board, EDCI, The Carlyle Group, Investment, PE, Social impact, Private equity, Climate, Boston Consulting Group, Woman, BCG, Greenhouse, Perception, Climate change, Public utility, Renewable energy, Climate change mitigation

BCG's First Annual Sustainability in Private Equity Report Examines How Private Equity-Owned Firms Measure Up When It Comes to Decarbonization, Renewable Energy Use, and Social Impact

Key Points:

BCG's First Annual Sustainability in Private Equity Report Examines How Private Equity-Owned Firms Measure Up When It Comes to Decarbonization, Renewable Energy Use, and Social Impact
BOSTON, Oct. 23, 2023 /PRNewswire/ -- Sustainability remains a key point of discussion within the private equity industry.
Even as some critics accuse the industry of greenwashing, others express concerns about whether PE firms are prioritizing sustainability objectives over financial returns.
In hopes of shedding light on the real status of sustainability in the industry, Boston Consulting Group (BCG) today releases its first annual Sustainability in Private Equity report.
The initiative's mission is to drive convergence around meaningful metrics for the private markets and generate useful, comparable, performance-based data.

Greenbacker Development Opportunities expands private equity investment team

Retrieved on:

Wednesday, October 11, 2023

NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leading renewable energy asset manager, is pleased to announce that it has expanded its private equity investment team, keeping up with its growing activity in the middle market of sustainable infrastructure.

Key Points:

NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leading renewable energy asset manager, is pleased to announce that it has expanded its private equity investment team, keeping up with its growing activity in the middle market of sustainable infrastructure.
Most notably, Rahul Bhalodia has joined the firm as a managing director of the Greenbacker Development Opportunities (“GDEV”) strategy.
Along with managing director and group head Ben Baker, who joined Greenbacker in 2020 to launch the strategy, Bhalodia will lead origination, execution, investment management, and capital raising for GDEV.
He brings over two decades of investment experience in renewables and the energy transition, during which he managed real assets, growth equity, and venture capital investments.

AM Best Affirms Credit Ratings of Ascot Group Limited’s Core Operating Subsidiaries

Retrieved on:

Thursday, September 28, 2023

AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Ascot Bermuda Limited (Ascot Bermuda) (Bermuda), as well as certain members of the Ascot Insurance U.S. Group (Ascot U.S.).

Key Points:

AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Ascot Bermuda Limited (Ascot Bermuda) (Bermuda), as well as certain members of the Ascot Insurance U.S. Group (Ascot U.S.).
Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating of “bbb+” (Good) on the USD 400 million, 4.25% fixed rate senior unsecured notes due 2030, issued by Ascot Group Limited (Ascot).
The ratings of Ascot Bermuda and Ascot U.S. reflect the consolidated balance sheet strength of Ascot, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .

Majority of Canadian Financial Advisors Surveyed Plan to Increase Exposure to Private Credit Over the Next Twelve Months, Recent Ninepoint Survey Finds

Retrieved on:

Wednesday, September 27, 2023

CPP Investment Board, Senior, Investment, Psychology, Private, Senior advisor, Fairmont Royal York, Former, Wilson, Thought, Asset allocation, Smoother, Private credit, OMERS, Moneyball, The Big Short, Financial adviser, Financial services, Security (finance)

The survey polled over 100 of the financial advisors, institutional investors and other industry participants who attended the Toronto event.

Key Points:

The survey polled over 100 of the financial advisors, institutional investors and other industry participants who attended the Toronto event.
Nearly two-thirds (63%) of financial advisors surveyed said they expect to increase their client or model portfolios’ exposure to private credit in the next 12 months, while 83% said they expect to increase their exposure to alternative assets over the same period.
By comparison, 83% of advisors surveyed said that currently fewer than 10% of their clients have a portion of their portfolio allocated to private credit.
Diversification Shines as Private Credit’s Advantage: 45% of advisors surveyed identified improving diversification as the most compelling advantage of private credit in the current market.

Rob Chisholm Joins Qatalyst Group as Partner

Retrieved on:

Wednesday, September 27, 2023

Qatalyst Group, a leading technology-focused independent investment bank, announced that Rob Chisholm has joined the Firm today as a Partner, expanding Qatalyst’s industry leading software advisory practice.

Key Points:

Qatalyst Group, a leading technology-focused independent investment bank, announced that Rob Chisholm has joined the Firm today as a Partner, expanding Qatalyst’s industry leading software advisory practice.
George Boutros, Chief Executive Officer of Qatalyst Group, said: “Having worked across the table from Rob over the years, I am particularly excited to welcome him to the Qatalyst team.
Since its founding in March 2008, Qatalyst has advised on over 200 M&A transactions, with total transaction volume of over $650 billion.
Qatalyst Group is a technology-focused independent investment bank headquartered in San Francisco, California.

June Announces EBITDA Profitability at $54M Revenue Scale and Appoints New CEO

Retrieved on:

Thursday, September 7, 2023

REIT, Residential Building & Real Estate, Technology, Construction & Property, Software, Olive, Partnership, CPP Investment Board, Property, Multimedia, EBITDA, HR, NOI, Growth, Cryptocurrency, Management

The company became profitable with annualized revenues surpassing $54 million while sustaining an impressive growth rate of more than 60% year-over-year.

Key Points:

The company became profitable with annualized revenues surpassing $54 million while sustaining an impressive growth rate of more than 60% year-over-year.
The company will scale its growth with a new real estate investment platform seeded by June investors, NextStory Capital , that will acquire urban multifamily assets to be operated by June.
NextStory Capital will acquire Class B urban residential assets and June will manage those properties, driving significant above-market revenue and NOI.
Together, we expect both companies will scale effectively and continue to deliver an exceptional experience to both renters and landlords across the country."