Canadian pension fund plans more buyouts


MONTREAL: Ontario Teachers' Pension Plan, the retirement fund manager leading the takeover of BCE Inc, is preparing to make more acquisitions even as investors begin to balk at funding leveraged buyouts. 

“There are signs out there that would suggest we are nearing the top of the market in private equity,'' Ontario Teachers senior vice-president Jim Leech said in a telephone interview. “Clearly, big movements in interest rates could make everything come crashing down, but I don't see that happening this year.'' 

The pension fund, which manages C$106bil (US$100bil) for teachers in Canada's most populous province, agreed on June 30 to buy Montreal-based BCE, the country's biggest phone company, for C$34.2bil with investors including Providence Equity Partners Inc. 

Ontario Teachers' would invest C$4bil in BCE equity, increasing the Toronto-based fund's holdings of private equity and infrastructure assets such as pipelines to C$20bil, Leech said. More deals would increase those assets to about C$25bil by the end of the year, he said. – Bloomberg  

Latest business news from AP-Wire

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Asia shares spooked by US inflation scare, hope for Fed calm
Asia shares spooked by US inflation scare, slip to 7-week lows Thursday
Bitcoin ticks back in Asia after Musk tweet sent price down 17%
Tesla stops taking bitcoin payments for vehicles over climate concerns
Vegetable Oils surge, Soy futures reach highest since 2012
Jobs, inflation data surprises not changing Fed plans
Oil price rises to 8-wk high on demand hopes, U.S. export decline
GLOBAL MARKETS-Wall Street skids on inflation fears; USD, bond yields jump
Capitalising on loan growth
Teo Seng invests in new equipment

Stories You'll Enjoy


Vouchers