Archive | Private Equity News

PE-backed USJ-IMECO acquires Robichaux Automation and Control

USJ-IMECO, a portfolio company of J.F. Lehman & Company, has acquired Robichaux Automation and Control. No financial terms were disclosed. Headquartered outside New Orleans, RAACI is a provider of electrical, control and automation systems for commercial and government vessels. PRESS RELEASE NEW YORK, April 21, 2014 /PRNewswire/ — Affiliates of USJ-IMECO Holding Company, LLC (“USJ-IMECO”), a portfolio company of J.F. Lehman & Company (“JFLCO”), today announced the acquisition of Robichaux Automation and Control, Inc. (“RAACI” or the “Company”). RAACI designs, assembles and integrates electrical, control and automation systems for commercial and government vessels. The Company’s core systems and product offerings include a range of proprietary ship control, alarm, monitoring, propulsion, switchboard and power management systems as well as other advanced marine technologies. The Company is headquartered just outside New Orleans, LA. USJ-IMECO is a leading independent provider of turnkey marine joiner, distributed and electro-mechanical systems and solutions for government and commercial customers involved in new ship construction and vessel maintenance, repair and overhaul. Headquartered in Crozet, VA and Iron Mountain, MI, the company employs approximately 600 people across the United States. USJ and IMECO were acquired by J.F. Lehman & Company in 2011 and 2012, respectively, and later combined into a single platform that has completed five strategic acquisitions adding both capability and geographic reach. Tom Eccles, Chief Executive Officer of USJ-IMECO, said, “We are very pleased to welcome RAACI and its employees to the USJ-IMECO family. The addition of RAACI adds a highly complementary set of engineered electrical, control and automation solutions and capabilities to the USJ-IMECO platform which will ultimately allow us to better serve our customers. This acquisition also strengthens our presence in the U.S. Gulf Coast region and improves our ability to support shipyards serving the oil and gas market.” Former owners Trudy and Dennis Robichaux will continue to play key roles leading the RAACI division of USJ-IMECO. Mr. Robichaux stated, “Trudy and I believe the combination of USJ-IMECO and RAACI is in the best interest of our employees and our customers. We’ve found a true business partner in USJ-IMECO and JFLCO with extremely deep contacts and resources in the markets we serve.” Blank Rome and Jones Day provided legal counsel to USJ-IMECO. About J.F. Lehman & Company, Inc. J.F. Lehman & Company is a leading middle-market private equity firm focused primarily on the maritime, defense, and aerospace sectors. For more information about J.F. Lehman & Company, please visit www.jflpartners.com.

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Balance Point Capital Partners buys Johnny on the Spot

Balance Point Capital Partners has acquired Johnny on the Spot. No financial terms were disclosed for the transaction, which Balance Point did with capital partner Dubin Clark. Jesse Thompson, president and owner of Johnny on the Spot, will remain as president and as a “significant” stakeholder. Headquartered in Old Bridge, NJ, JOTS is a provider of portable toilets and related items for the special event and construction sectors. PRESS RELEASE WESTPORT, Conn., April 21, 2014 /PRNewswire/ — Balance Point Capital Partners, a private equity fund focused on providing debt and equity capital to lower middle market companies across the U.S. and in conjunction with its capital partner, Dubin Clark, announced today the acquisition of Johnny on the Spot, LLC (“JOTS”). Founded in 1969 and headquartered in Old Bridge, New Jersey, JOTS is a leading provider of portable toilets and related products to the special event and construction industries, as well as residential and commercial septic system maintenance, inspections, repairs and installations in New Jersey, New York and Pennsylvania. The company’s President and owner, Jesse Thompson, will continue as President and remain a significant shareholder. “I am very excited about the partnership with Balance Point. I am looking forward to working with my new capital partners to help facilitate and support our growth efforts as we enter a new phase for the company,” said Jesse Thompson, President. Justin Kaplan, a Partner with Balance Point adds, “We are very excited to have JOTS join the Balance Point portfolio. This transaction is quintessential Balance Point: helping successful businesses like JOTS enter the next chapter in their evolution by providing differentiated capital and leveraging our network. We look forward to supporting the many men and women who comprise the JOTS team and have contributed to its growth trajectory.” Balance Point Capital Partners invests mezzanine and equity capital in select lower middle market companies. Since 1988, the firm and its predecessor funds have invested in over 75 distinct businesses. Balance Point Capital Partners takes a long-term, partnership approach to investing and are committed to building lasting relationships with private equity sponsors, management teams and intermediaries. Balance Point targets companies with EBITDA between $2 million and $25 million and typically invests $5 million to $20 million per transaction. Balance Point Capital Partners is based in Westport, CT (www.balancepointcapital.com).

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Principia Biopharma nabs $50 mln Series B funds

Principia Biopharma has raised $50 million in Series B financing. Sofinnova Ventures led the round with participation from investors that include Morgenthaler Ventures, New Leaf Venture Partners, OrbiMed, SR One and Mission Bay Capital. In addition to the financing, Dr. Srinivas Akkaraju, a general partner at Sofinnova Ventures, has been added to Principia Biopharma’s board of directors. Based in South San Francisco, Principia Biopharma is focused on developing small molecule drugs within the fields of autoimmune disease and oncology. PRESS RELEASE SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Principia Biopharma Inc. today announced that it has secured a $50 million Series B private financing round. Principia is a privately held biopharmaceutical company focused on discovering and developing first-in-class small molecule drugs within the fields of autoimmune disease and oncology that are potent, safe and have antibody-like specificity for their targets. The proceeds from this financing will be used to further advance the company’s pipeline, including an oral BTK inhibitor for potential use in autoimmune disease and oncology, an oral, selective, irreversible FGFR inhibitor program for the treatment of solid tumors, an oral IL-17 pathway inhibitor program with utility across a range of autoimmune and inflammatory diseases as well as helping Principia expand into a clinical stage company. This Series B financing is being led by Sofinnova Ventures, with participation by all of Principia’s existing institutional investors: Morgenthaler Ventures, New Leaf Venture Partners, OrbiMed, SR One, Mission Bay Capital and additional investors. In conjunction with this financing, Srinivas Akkaraju, MD, PhD, a General Partner at Sofinnova Ventures, has joined the company’s board of directors. Previously the company raised $40 million in a Series A financing. “In just over three years, the company’s prolific chemistry and biology platform has led to advancing multiple programs in the fields of autoimmune disease and oncology, with an exciting level of preclinical validation to date,” said Dr. Akkaraju. “I look forward to rejoining the board and working closely with the management team to execute on the clinical plan.” “We believe that Principia holds the promise of discovering and developing small molecule drugs in a way that is superior to the traditional methods of the industry today. The potential to combine the convenience of an orally available small molecule together with the durable specificity of an antibody represents an exciting advance in therapeutics,” said Peter A. Thompson, MD, FACP, Private Equity Partner at OrbiMed and Chairman of Principia’s board of directors. Expanding on technology originally licensed from University of California, San Francisco, the company has built a comprehensive drug discovery and development engine broadly utilizing its proprietary technology around reversible covalent small molecule inhibitors. This tailored covalent technology enables the company to develop highly selective small molecules against a diverse range of kinases and other disease targets that have historically been very challenging to address. Principia believes this approach will lead to efficacious drugs with enhanced safety margins, making them suitable chronic therapies for many diseases. “We appreciate the strong support from our existing and new investors and look forward to continuing our efforts as Principia expands into a clinical based company. We believe our technology and insights allow us to identify new small molecule treatments that would not have been identified using traditional methods or tools,” said Martin Babler, Chief Executive Officer of Principia. About Principia Biopharma Principia Biopharma Inc. is a privately-held biopharmaceutical company focused on discovering and developing first-in-class small molecule drugs within the fields of autoimmune disease and oncology that are potent, safe and have antibody-like specificity for their targets. Expanding on technology originally licensed from the University of California, San Francisco, the company has built a comprehensive drug discovery and development engine broadly utilizing its proprietary technology around reversible covalent small molecule inhibitors. This tailored covalent technology enables the company to develop highly selective small molecules against a diverse range of kinases and other disease targets that have historically been very challenging to address. For more information, please visit the company’s website at www.principiabio.com.

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Bain Capital invests in Viewpoint Construction Software

Bain Capital has made an undisclosed investment in Viewpoint Construction Software. As part of the transaction, Updata Partners and TA Associates are selling their stakes in Viewpoint. Credit Suisse and Canaccord Genuity advised Viewpoint on the deal while Wells Fargo advised Bain Capital. Headquartered in Portland, Oregon, Viewpoint is a provider of software solutions and services to the construction sector. PRESS RELEASE Portland, Ore.– April 22, 2014 – Viewpoint Construction Software®, a leading provider of innovative software solutions and services to the construction industry, announced that Bain Capital, one of the world’s foremost privately-held alternative investment firms, has made a major growth equity investment in the business designed to extend Viewpoint’s reach in the global construction market. Viewpoint, which provides mission critical software to more than 8,000 contractors in 28 countries, has been an innovator in the construction-specific software market for more than 35 years, and has achieved more than 40 percent average annual revenue growth since 2009. Jay Haladay, Viewpoint’s Chairman and CEO, will continue in his current role as will all members of the company’s executive and management team. “The Viewpoint team is very pleased to partner with Bain Capital, a successful global investor in enterprise technology who brings strong knowledge of vertically-focused software as well as the resources and experience we need to continue to grow our business,” said Haladay. “Their financial and operational strength and strategic processes will expand the resources we have available to us and accelerate our objective to provide the innovative software solutions required by the increasingly complex global construction project marketplace. This investment continues the evolution of our company – extending and expanding both our product and service offerings as well as the customers we serve.” “We have been incredibly impressed with the business culture and customer relationships that Jay Haladay and his team have built at Viewpoint,” said David Humphrey, a Managing Director at Bain Capital. “Their product vision and business execution have made them a fast-growing leader in the construction software market. We are very excited for the opportunity to work together to grow their business and extend their leadership position globally.” Viewpoint currently has 700 employees committed to developing and supporting financial compliance, project management, project collaboration, estimating, mobile, content management and Building Information Modeling (BIM) software for construction industry professionals. These products can be obtained and used independently under the Viewpoint brand, or integrated into a powerful end-to-end software suite. Different configurations of Viewpoint solutions provide support to a broad customer base ranging from small local contractors to multi-billion dollar global firms. Viewpoint’s evolution has included the introduction of organically developed construction-specific products coupled with the acquisition of strategically important extensions to its software capabilities and markets. Current investors Updata Partners and TA Associates are selling their interests in Viewpoint as part of the new growth investment. “Updata is very pleased to have been involved in Viewpoint’s great success in the last four years,” stated John Burton of Updata Partners. “I am confident that their market leadership will continue its great momentum.” “TA Associates has been very pleased to play a constructive role in Viewpoint’s evolution,” said Harry Taylor, Managing Director of TA Associates. “We believe Viewpoint is at an exciting inflection point and look for them to quickly prove to be the global leader in construction software.” Credit Suisse and Canaccord Genuity Inc. acted as financial advisors, and Goodwin Procter LLP served as legal counsel to Viewpoint. Wells Fargo acted as financial advisor, and Kirkland & Ellis LLP served as legal counsel to Bain Capital. ###### About Viewpoint Construction Software Viewpoint is a leading provider of innovative software solutions and services to the construction industry, meeting the collaboration and information needs of a variety of professionals including small, medium, large and enterprise contractors. Viewpoint solutions include takeoff and estimating, project management, accounting solutions, enterprise resource planning, project and BIM collaboration, mobile field-to-office and enterprise content management. Headquartered in Portland, Oregon, Viewpoint’s customers include more than 30 percent of the ENR 400, and the company has more technology partnerships with the top 50 mechanical and electrical contractors in the United States than any other construction software provider. Viewpoint has become the technology partner of choice to the construction industry by delivering the right solutions on the right platform, including cloud, SaaS and on premise, and by providing customers throughout the U.S., Canada, the United Kingdom, Europe, the Middle East and Australia with improved accountability, efficiency and productivity. For more information, please visit www.viewpointcs.com. About Bain Capital Private Equity Founded in 1984, Bain Capital is one of the world’s foremost privately-held alternative investment firms, with more than $75 billion of assets under management. With deep experience investing in and building businesses around the world, the firm has made private equity, growth, and venture capital investments in more than 450 companies across a variety of industries, including such leading technology and software companies as BMC Software, Skillsoft, Applied Systems, MYOB, SunGard Data Systems, TeamSystems, LinkedIn, SolarWinds, and SurveyMonkey. Bain Capital has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Tokyo, Shanghai, Hong Kong, Mumbai and Sydney. For more information, please visit http://www.baincapitalprivateequity.com.

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Medina raises $70 mln so far for Fund I

Medina Capital has collected roughly $70 million for a first close of its debut fund, according to an SEC filing and a source. Miami-based Medina, which makes early growth stage investments in technology companies, is out fundraising for a $250 million pool. The venture capital firm began marketing a year ago, peHUB has previously reported. A final close is expected in June, the source said. Greenhill & Co is the placement agent for Fund I, the SEC filing said. Medina’s principals hail from Terremark Worldwide, a data-center services company that was sold to Verizon Communications in 2011 for about $2 billion. Medina currently invests $10 million to $20 million per deal in sectors such as cyber security, cloud computing, big data and storage. Earlier this month, Medina acquired Cryptzone, a Stockholm provider of encryption technologies. The VC, in February, completed its first exit with the sale of Prolexic, a provider of cloud-based security services for data centers, to Akamai Technologies for $370 million. In addition to Medina, other Prolexic investors included Kennet Partners, Camden Partners, Intel Capital and Trident Capital. Medina declined comment. Greenhill could not be reached for comment. Photo courtesy of Shutterstock

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Bullpen sets target of $50 mln for second fund

Bullpen Capital has set a $50 million target for its second fund, according to a filing with the Securities and Exchange Commission. The filing is dated Friday and says that the fund – Bullpen Capital II – has so far not had a first close. An initial 2012 filing for the fund lists the target at $35 million. Bullpen’s first fund was $10 million, according to Thomson Reuters (peHUB publisher). Friday’s filing can be found here. The 2012 filing is here.

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Nervana Systems grabs $600K

Nervana Systems has received $600,000 in seed funding. Investors in this round included Sam Altman, Geoff Ralston, Expedia CEO Dara Khosrowshahi, Allen & Company and SV Angels. Headquartered in San Diego, Nervana Systems is a maker of custom hardware for machine learning algorithms. PRESS RELEASE San Diego, CA. April 17, 2014. Nervana Systems, Inc., today announced $600,000 in seed financing from prominent angel investors and unveiled its plan to develop custom hardware for Deep Learning. Investors in the round include industry veterans Ali and Hadi Partovi, Sam Altman, Geoff Ralston, Scott Banister, Owen Van Natta, Eric Baker, Google veteran Farzad Khosrowshahi, Expedia CEO Dara Khosrowshahi, Allen & Company, Dropbox VP Aditya Agrawal & Ruchi Sanghvi, and SV Angels. Nervana is the first company to develop custom hardware for machine learning algorithms, enabling computers to analyze and learn from massive amounts of data. The company intends to bring unprecedented performance and simplicity to state-of-the-art computationally intensive algorithms such as Deep Learning, making them broadly accessible for deployment in a wide variety of settings. “Humanity is creating and collecting data at an astonishing rate, and the vast majority of it is unlabeled,” said Dr. Naveen Rao, CEO of Nervana Systems. “Deep Learning has emerged as the leading technique for finding structure in very large datasets, and Nervana Systems’ specialized hardware will do this at a new level of scale to meet growing demands.” “As data proliferates ever faster, the computers of the future will need brain-like abilities to help people make sense of its sheer volume,” said Ali Partovi, tech veteran and early investor in Dropbox, Zappos, and Facebook. “Nervana has brought together leaders in hardware, neuroscience, and business to make that future a reality.” “Recent advances in neural networks, combined with the hardware that Nervana is now developing, have the potential to revolutionize the computing industry. The next 10 years will likely see the advent of intelligent machines utilizing radically new computing architectures to sift through and learn from massive amounts of data, with a degree of sophistication that was previously thought attainable only by humans”, said Professor Bruno Olshausen. Nervana Systems is led by computational neuroscientists Dr. Naveen Rao, Dr. Amir Khosrowshahi, and Dr. Arjun Bansal. The executive team includes hardware experts Carey Kloss and Andrew Yang who are recognized leaders in processor architecture, ASIC design, and FPGA design. Nervana also announced its advisory board, with academic and industry leaders Prof. Bruno Olshausen, Prof. Jan Rabaey, Ali Partovi, and Scott Banister. About Nervana Systems Nervana Systems develops hardware specialized for Deep Learning, bringing unprecedented performance, efficiency, scale, and simplicity to unsupervised machine learning for analysis of big data. Founded by experts in machine learning, neuroscience, processor architecture and chip design, the company is privately funded. Nervana Systems has offices in San Diego, CA (HQ) and Mountain View, CA. www.nervanasys.com

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Capital Sports Ventures backs BigTeams

BigTeams, which builds websites for high school sports programs, said Monday that it has secured funding in a round led by Capital Sports Ventures. Other investors included SWaN & Legend Ventures, Roger Mody, former CEO of SIGNAL Corp. and Scott Brickman, former CEO of The Brickman Group. No financial terms were disclosed. Also, the firm named Clay Walker as its CEO. PRESS RELEASE WASHINGTON, DC (PRWEB) April 21, 2014 WASHINGTON, DC – BigTeams, one of the fastest growing, easy to use and most comprehensive website and software systems for high school athletics programs today introduced industry veteran Clay Walker as its Chief Executive Officer and also announced an investment round, led by Capital Sports Ventures. Walker assumes his new role after spending over 20 years in the sports and entertainment industry, most recently at USA TODAY. Based in the Northern Virginia technology corridor, BigTeams originally launched its web platform in 2008 and now has clients in 41 states who use their innovative websites, fundraising tools, booster club systems, and fan interaction platforms. “By any measure, high school athletics are a growing frontier and I’m thrilled to join an organization that has created an easy-to-use web platform that can be utilized by athletics departments to create and distribute content and engage local communities,” Walker said. “Today’s high school marketplace is full of millennials who understand the value of creating media; educators who are seeking new ways to engage students in the digital arts; and athletics administrators who are struggling to find ways to cover the growing costs and demands of managing high school athletics programs. The BigTeams platform is a comprehensive web solution for high school athletics coaches and administrators at a time when they need it most.” The funding round was led by Arlington, VA, based Capital Sports Ventures, which also included SWaN & Legend Ventures (led by Monumental Sports & Entertainment Partners Fred Schaufeld and Tony Nader), Roger Mody, former CEO of SIGNAL Corporation and Scott Brickman, former CEO of The Brickman Group. Capital Sports Ventures is led by CEO Greg Bibb, former Executive Vice President of Business Operations for the Washington Wizards and Chief Operating Officer of the Washington Mystics. Bibb and Schaufeld launched CSV in January 2013. Bibb and Nader will join the Big Teams Board of Managers as part of the investment. Clay Walker most recently served as Vice President of Publisher Relations at USA TODAY Sports. Prior to joining USA TODAY Sports, Walker was Chief Affiliate Officer, GM and one of the co-founders Big Lead Sports, a successful digital sports marketing and media company start up that was acquired by USA TODAY in January 2012. Before co-founding Big Lead Sports, he served as the Senior Vice President of the NFL Players Association’s licensing and marketing division for 13 years, where he was named to the Sports Business Journal’s Forty Under 40 list. About BigTeams BigTeams was founded by Matt Carson, Jeff Gilbert, & Steve Sutherland, who will remain with BigTeams as majority owners of the business. BigTeams develops the most advanced high school athletic websites and software available based on the belief that the less time an athletic director has to spend disseminating information, raising funds and creating a website, the more time he or she has to spend with coaches and students. The BigTeams goal is to build and support powerful school-branded websites for high school athletics programs that help the school with administrative work, fundraising and generate community engagement. The BigTeams product features industry-leading administrative tools, including scheduling, online athlete registration and booster volunteer management systems. BigTeams leverages the efforts of social media networks, local news outlets, selected fan input and professional photographers and videographers, and then combines these efforts into a one-stop-shop for fans to get school announcements, schedules and engaging content. The platform also helps high school athletics programs generate revenue through features such as local online ad sales, photo sales, e-commerce sales, mobile app sales and more. Big Teams has been a pioneer of the “school-first” approach with high school athletics websites since 2008 and has clients in 41 states. For more information, visit the Big Teams website at http://www.BigTeams.com About Capital Sports Ventures (CSV) Capital Sports Ventures is a sports and lifestyle properties accelerator that advises, manages and provides capital for sports and lifestyle properties and events. Along with actively investing in the sports and lifestyle industry, CSV offers advisory services to a select number of clients. CSV is a member of the SWaN & Legend portfolio of investments. About SWaN & Legend Venture Partners SWaN & Legend Venture Partners was founded in 2012 by Fred Schaufeld and Todd Klein. Along with CSV, SWaN & Legend’s portfolio of holdings includes Jose Andres’ Think Food Group, CustomInk, Kind Healthy Snacks, Social Radar and Quad Learning, among others.

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Asia recruiting platform HRBoss attracts $3.6 mln

HRBoss said Monday that it has closed $3.6 million in Series B funding. JAFCO led the round. Headquartered in Singapore, HRBoss is a provider of data-driven software for both corporate HR and the recruiting industry. PRESS RELEASE Silicon Singapore (PRWEB) April 21, 2014 HRBoss, one of Asia’s fastest growing technology start-ups, today announced that it has secured $3.6 million USD in a Series B funding led by JAFCO, Asia’s leading private equity firm. This pushes the software provider’s total funding to $12,000,000 US Dollars to date. “We are thrilled to be able to continue working with JAFCO as our trusted partner. All HRBoss solutions have been designed and built from scratch in Asia for Asian businesses, so it only feels right for us to have an Asian investment firm backing us for success,” said Bernie Schiemer, CEO and Founder of HRBoss. “To come in on this Series B round clearly shows JAFCO’s confidence in our ability grow HRBoss as category-leading company which is redefining the Data, HR and Recruitment technology space in Asia.” HRBoss will put the new funding towards accelerating its aggressive go-to-market strategy, supporting interests in Asia by expanding its existing foothold and also for their expansion into the US markets. Schiemer continued, “The new capital, with the experience of our Japan’s leading investment firm behind us, gives us the power to accelerate growth and really hit the ball out of the park with innovative solutions. HRBoss’s first 3 years were about changing the way people think about HR and staffing software in Asia. On behalf of myself and our amazingly talented team at HRBoss, we are itching to put this funding to work and take HRBoss outside of Asia to delight new, international clients.” Since its launch in 2011, HRBoss has been Asia’s major disruptor in the Cloud SaaS HR and recruiting technology market. In 2013, HRBoss won two prestigious awards in Asia- Best Cloud Solution’ at SiTF Awards and ‘Best HR Big Data Solution’ at China HR Pioneer Awards. The Singapore headquartered company was, notably, the first Asian company to be honored at the Cloud Awards 2014, taking home of ‘Best Software-as-a-Service’ at the 2014 International Cloud Awards. HRBoss clients range from government organizations and globally recognized corporations, including Changi Airport Group, Nissan, Michael Page, Audi, the Monetary Authority of Singapore (MAS) and the Economic Development Board (EDB). About JAFCO JAFCO Co.,Ltd. is Japan’s leading venture capital and private equity firm. Out of their portfolio, 946 companies have successfully completed IPO’s since their inception in 1973. They have established operations in Japan, Singapore, China, Taiwan, Korea and the USA. About HRBoss HRBoss is Asia’s leading provider of data-driven software for both corporate HR and the recruiting industry. Founded in 2011, HRBoss is rapidly expanding their footprint across Asia with offices currently open in 7 countries today (Singapore, Japan, Vietnam, Indonesia, China, Malaysia and Hong Kong). All HRBoss Cloud solutions are intuitive, highly-configurable and are supported locally on-the-ground across Asia.

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JW Childs bags $596 mln from CPPIB

JW Childs has received $477 million from CPPIB for its third fund. Also, CPPIB has agreed to invest $119 million in JW Childs’ fourth fund, which targets $450 million. JW Childs focuses mostly on mid-market companies in the consumer products, specialty retail and healthcare services sectors in North America. PRESS RELEASE Toronto, ON, Canada (April 21, 2014): Canada Pension Plan Investment Board (CPPIB) announced today that it has completed a secondary transaction related to JW Childs Equity Partners III. As the lead investor, CPPIB invested US$477 million in the transaction. The transaction provided the option, but not the obligation, for all existing limited partners in Fund III to obtain liquidity. Alternatively, the existing limited partners were provided the opportunity to roll their existing stakes on the same terms and conditions as CPPIB. JW Childs will continue as the general partner and manage the partnership. As part of the transaction, CPPIB has also agreed to commit US$119 million to JW Childs Equity Partners IV, a new fund targeting US$450 million in capital commitments from investors. JW Childs focuses primarily on mid-market investments in the consumer products, specialty retail and healthcare services sectors across North America. “We are excited to complete another significant and innovative transaction in the secondary private equity market,” said André Bourbonnais, Senior Vice-President, Private Investments, CPPIB. “We believe these transactions are a positive evolution in the private equity industry. In all transactions, we aim to provide a fair and balanced solution to meet the objectives of all the existing limited partners, the general partner and new investors. We look forward to partnering with JW Childs in creating value over the long term.” About Canada Pension Plan Investment Board Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2013, the CPP Fund totalled C$201.5 billion. For more information about CPPIB, please visit www.cppib.com.

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