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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Canadian buy-outs hit new record in second quarter16/08/2007. Source: AltAssets. 
Buy-out firms invested a record CAN$55.6bn across 52 transactions in the second quarter of 2007, according to a quarterly report released by Canada's Venture Capital & Private Equity Association and Thomson Financial. This is up from the 44 transactions recorded during the first quarter, totalling CAN$5.4bn. The largest buy-out of the quarter was the record breaking US$47.2bn Bell Canada buy-out.
'It is important to note that we achieved record growth in our buy-out markets even without the massive Bell Canada transaction,' said Rick Nathan, CVCA president and managing director of Kensington Capital Partners, 'A total of CAN$8.4bn in other buy-outs were announced during the quarter, which would have been a record quarterly performance on its own.'
During the first half of 2007, 96 Canadian buy-out transactions were announced, with a total value of CAN$61bn. This first half total already exceeds the full year totals for 2006 (101 buy-outs and CAN$11.6bn).
At the same time, fundraising by Canadian buy-out funds has seen a decline from its peak level in 2006, with CAN$1.4bn raised through the first half of 2007, compared to the CAN$7.9bn raised during the full year of 2006. Last year saw the majority of large Canadian buy-out firms raise new capital.
Copyright © 2007 AltAssets
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