Canadian private equity player Waterton Global Resource Management LP has raised more than US$1-billion for a precious metals fund, a massive number which demonstrates that private equity interest in the mining space continues to rise.
There’s no shortage of news from Difference Capital, a money manager focused on investing in mid-to-late stage private companies, set up by the legendary Mike Wekerle two and a half years back.
Of late, a number of directors and managers have left, there’s been a very public spat with a cash rich shell BENEV Capital, disappointing news about some of its key investments, a falling share price and this week, a $0.33 a share quarterly loss.
Whenever the interest of graduating MBAs hits a fever pitch, it usually means a trend is past its sell by date. It now appears that the traditional path of getting rich beyond all dreams of avarice, as in joining a private equity or hedge fund, isn’t good enough for some students. They want to become their own deal-meisters sooner, and so the latest fad is scaled-down PE funds known as “search funds”.
One year back, InstarAGF Asset Management Inc. — a joint venture between AGF and Instar — was born.
The goal was to provide “global institutional investors with access to infrastructure investment opportunities.” The new company would achieve that objective by investing in and managing “a range of alternative asset funds, with primary focus on infrastructure assets.”
Energy financier Richard Grafton is planning a series of deals in the Canadian oil patch over the next 18 months after securing $675-million in funding from a U.S. private equity firm and a UAE sovereign wealth fund.
He will lead Canadian Non-Operated Resources LP which launched Tuesday with backing from New York-based Riverstone Holdings, an undisclosed UAE state-owned investor and Grafton Asset Management Inc.
The London-based venture capital firm, best known more recently for its investment in controversial consumer finance lender Wonga, is to begin raising the new money as early as this month, reports The Telegraph.