Investment firm KKR has completed its acquisition of OSTTRA from S&P Global and CME Group. The deal, announced in April, gives OSTTRA a total enterprise value of US$3.1 billion. OSTTRA is an over-the-counter market solutions provider that offers post-trade services and infrastructure across interest rates, FX, credit and equity asset classes. It was established in 2021 by S&P Global and CME Group through a 50/50 joint venture.
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Primaris Real Estate Investment Trust has raised $147.5 million in a bought-deal offering. A total of 10 million trust units were issued at a price of $14.75 per unit to a syndicate of underwriters bookrun by TD Securities Inc., RBC Capital Markets and Desjardins Capital Markets. The proceeds of the offering will fund Primaris’s previously announced acquisition of Promenades St-Bruno in Montreal from Cadillac Fairview.
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Quebec-based investment fund Fondaction is investing in Diex Research, which operates six clinical trial sites across the province. The investment will support the company’s expansion into new sites, as well as the diversification of its service offerings and the broadening of its therapeutic areas. The terms of the investment were not disclosed. Fondaction manages more than $4 billion in net assets.
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Toronto-based First Principles Capital has invested in a third portfolio company, an unnamed Ontario-based equipment rental business. The terms of the deal were not disclosed. First Principles partners with founder-led businesses in Canada and the United States and now has three portfolio companies — in equipment rental, vertical market software and the sports rights industry.