The Montreal-based carrier’s shares rose as much as 15 per cent Wednesday morning after it agreed Tuesday to sell a 25 per cent non-controlling stake in its loyalty program, Aeroplan, to Blackstone, La Caisse, PSP Investments and BCI. (The Logic)
The Ontario Municipal Employees Retirement System net assets under management rose by $6.9 billion, to $151.6 billion, as of June 30. (The Logic)
The asset management giant, along with Wall Street titans Apollo, BlackRock, Blackstone, Goldman Sachs and KKR, is partnering with Nvidia to raise more than US$500 billion in third-party capital to help the chip company’s customers finance AI infrastructure. (The Logic)
Toronto-based Polar Asset Management Partners said Tuesday it has secured more than US$215 million for the first close of its second fund targeting credit-risk transactions with Canadian banks. (The Logic)
The U.S. private equity firm will pay cash for the payments processor, which handles one in three transactions in Canada. Co-owners Royal Bank of Canada and Bank of Montreal will split the proceeds equally. (The Logic)
Evan Siddall, who also acted as special advisor to Mark Carney during the prime minister’s time as Bank of Canada governor, will be the new housing agency’s inaugural board chair. (The Logic)
The prestigious California-based think tank will hold a half-day conference in Toronto for the first time on Sept. 14, bringing together senior Canadian business and international financial leaders ahead of Prime Minister Mark Carney’s Canada Investment Summit. (The Logic)
Three Kings Capital, Frostbite and Unpopular Ventures joined the Series A round—whose dollar figure wasn’t disclosed—with the Business Development Bank of Canada’s Industrial Innovation Venture Fund. At the same time, co-founder Sebastian Fischmeister, a University of Waterloo professor, stepped aside as CEO in favour of former chief operating officer Matthew Monteyne, an experienced startup executive. Fischmeister became chief strategy officer. (The Logic)
The Breslau-based company set a new record for how much a small drone can lift, with its 29-pound Katana drone carrying 112 pounds of cast iron, nearly four times its weight. The company placed first among 61 teams competing over seven days in Dayton, Ohio, taking home a US$1.25-million prize. (The Logic)
The Omaha investment giant’s second-quarter earnings showed a US$12.6 billion decrease in cash on the company’s balance sheet compared with the end of last year, and a US$26 billion surge in equity securities under the leadership of Canadian-born Abel, who took over the chief executive post from Warren Buffett on Jan. 1. (The Logic)