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WHO'S
WHO IN PRIVATE EQUITY |
| When Canadian pension funds first decided
to get into private equity, they would usually invest in funds
raised by private equity firms. Today, they usually partner
with these firms or compete with them. Here's a description
of some of the biggest players.
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Established in 1984, Bain Capital has approximately US$40
billion in assets under management. Bain Capital's family
of funds includes private equity, venture capital, public
equity and leveraged debt assets.
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The Blackstone Group has invested in more than 100
companies in a variety of industries, geographies and
economic environments. Its current holdings include
such diverse companies as Cadbury Schweppes, Deutsche
Telekom, Extended Stay America, Freescale Semiconductor,
Houghton Mifflin, Michaels Stores, The Nielsen Company,
Orangina, SunGard, Texas Genco Holdings, TRW Automotive,
Universal Orlando, and VNU. Peter G. Peterson and Stephen
A. Schwarzman founded Blackstone in 1985.
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The Carlyle Group focuses on sectors in which it has
demonstrated expertise: aerospace and defense, automotive
and transportation, consumer and retail, energy and
power, healthcare, industrial, infrastructure, real
estate, technology and business services, and telecommunications
and media. Established in 1987, the firm has more than
US$56 billion under management.
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Cerberus Capital Management was founded in 1992 and specializes
in providing both financial resources and operational
expertise to help transform undervalued companies into
industry leaders for long-term success and value creation.
The private equity firm recently signed a deal to buy
a majority stake in Chrysler and owned an interest in
Air Canada before the airline emerged from creditor protection.
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Kohlberg Kravis Roberts & Co.(KKR)was founded in
1976 and is one of the world's oldest and most experienced
private equity firms specializing in management buyouts.
Over the past 30 years, it has completed over 150 transactions
with a total value of over US$279 billion. In 2002, KKR
teamed up with the Ontario Teachers' Pension Plan to buy
a majority interest in Yellow Pages Group from BCE. It
also was part of the consortium that acquired Shoppers
Drug Mart from Imasco. |
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Established in 1992 and based in Chicago, Madison Dearborn
Partners invests in management buyout and other private
equity transactions across a broad spectrum of industries.
Its objective is to invest in companies in partnership
with outstanding management teams to achieve significant
long-term appreciation in equity value. MDP generally
seeks to invest US$100 million to US$600 million of equity
capital in a single transaction. |
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Toronto-based Onex Corporation was founded in 1983 by
Gerry Schwartz. The company has investments in a number
of different industries, including Celestica, Cineplex
Entertainment, Spirit AeroSystems, Hawker Beechcraft,
Skilled Healthcare Group, Carestream Health, Emergency
Medical Services, and many more.
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Providence Equity Partners, based in Providence, Rhode
Island, is a private investment firm specializing in equity
investments in communications and media companies around
the world. It manages funds with approximately US$21 billion
in equity commitments and was founded in 1991. Providence
once owned a stake in Craig Media, which was bought by
Chum Ltd. |
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TPG, formerly Texas Pacific Group, is a global private
investment firm with more than US$30 billion of capital
under management. It manages a family of funds including
private equity, venture capital and public equity and
debt investing. TPG was founded in 1992 and invests in
companies across a broad range of industries and geographies. |
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