The Caisse de dépôt et placement du Québec is backing Oakley Capital’s acquisition of a minority stake in Global Loan Agency Services.
The London-based provider of loan administration and bond trustee services oversees more than $2.4 trillion in asset under management in the global private credit market, according to a press release. As part of the transaction, Levine Leichtman Capital Partners will retain a small stake in GLAS. The financial details of the deal weren’t disclosed.
“GLAS sits at the heart of the fast-growing private credit ecosystem,” said Martin Longchamps, executive vice-president and head of private equity and private credit at the Caisse, in the release. “Its global presence, technology leadership and deeply embedded relationships with leading clients make it an asset well positioned for continued growth.”
The venture growth arm of the Ontario Teachers’ Pension Plan is joining a funding round for artificial intelligence technology company Kraken.
The funding round brings new and existing investors together to acquire $1 billion of Kraken equity that will also fund Octopus Energy Group. The deal is led by D1 Capital Partners and includes Fidelity International and Durable Capital Partners as new investors.
In other news, Oxford Properties Group confirmed a US$2.45 billion financing, which includes a $1.6 billion construction loan underwritten by Wells Fargo & Company, Bank of America Corp., Standard Chartered PLC and other institutional investors.
The demand on the capital side of the premium office market is beginning to catch up with the ongoing demand from occupiers, said Dean Shapiro, global head of development at Oxford Properties, in a press release. “Securing full equity and the largest construction loan in New York since 2020, on attractive terms, demonstrates the growing global demand from sophisticated investors and lenders of capital into first-class office product like 70 Hudson Yards.”
The Canada Pension Plan Investment Board is acquiring an indirect non-controlling interest in Castrol Ltd. alongside Stonepeak in a transaction that values the firm at $10.1 billion. As part of the deal, the CPPIB will invest $1.05 billion to complete the acquisition.
“Our investment alongside Stonepeak aligns with our strategy of backing businesses that are essential to the energy system,” said Bill Rogers, managing director and head of sustainable energies at the CPPIB, in a press release. “We believe Castrol’s strong market position and diversified growth opportunities will deliver attractive risk‑adjusted returns for the CPP Fund.”