S&P Global and CME Group have sold their joint venture OSTTRA, an over-the-counter market solutions provider, to the investment firm KKR. Proceeds from the deal are valued at US$3.1 billion and will be split evenly between the two sellers.
“We are incredibly grateful for our partnership with CME Group and S&P Global over the past several years and delighted to have KKR’s backing as we embark on this exciting new chapter for OSTTRA,” said Guy Rowcliffe and John Stewart, co-CEOs of OSTTRA, in a media release.
No changes to the management team were announced.
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CPP Investments has sold 25 limited partnership interests in buyout funds to Ares Management Private Equity Secondaries and CVC Secondary Partners. The pension fund reports its proceeds from the sale are roughly $1.2 billion.
“This transaction was undertaken as part of our active portfolio management activities,” said Dushy Sivanithy, managing director & head of secondaries at CPP Investments. “As a systematic buyer and seller in the secondaries market, we see this sale as an attractive opportunity to optimize the construction of our portfolio.”
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PEAK Capital Partners has taken a position in Quebec-based fintech Kaira Technologies. The firm uses AI to promote financial wellness. Financial details were not reported.
“This investment reflects my deep belief: Canadians urgently need support to regain control of their financial health,” said Robert Frances, president of PEAK Capital Partners.
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Vancouver-based Lumina Gold Corp. has been bought by CMOC Singapore Pte. Ltd. The equity purchase is valued at $581 million, based on a $1.27-per-share price tag. That represents a 41% premium relative to Lumina’s Apr. 17 closing price on the TSX Venture Exchange.
The deal will provide additional funding for Lumina’s Cangrejos mine in Ecuador.
“After advancing the Cangrejos project for over 10 years and taking it from no defined resources to being poised to be one of the largest gold projects globally, the Lumina Group is excited for the transition of the Cangrejos project to CMOC,” said Marshall Koval, Lumina CEO.
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Alternative asset manager Sagard has acquired BEX Capital, a specialized secondaries firm with more than US$2 billion in assets under management. Details of the purchase were not disclosed.
“BEX has built a remarkable franchise in the secondaries market,” said Paul Desmarais III, chairman and CEO at Sagard.