“Equity financing was down 30% from 2012,” Ms. Rovers told a business audience in Toronto at an event organized by the Canadian Association of Petroleum Producers in collaboration with Scotiabank. Private equity is filling the gap created by sluggish capital markets, said Ms. Rovers, noting that New York-based Evercore Partners is looking to set up a shop in Calgary, along with another PE player. PE giant Kohlberg Kravis Robert (KKR & Co.) has already announced its intention to open an office in Calgary this year. KKR is reportedly setting up a US$1.5-billion fund targeting mineral and oil and gas developments. Warburg Pincus, another New York PE heavyweight, has made seven acquisitions in the Canadian oil and gas space in recent years. Warburg and Evercore did not respond to requests for comment.
http://www.bullfax.com/?q=node-deep-pocketed-private-equity-firms-eye-canada%E2%80%99s-oil-pat New York-based Pinebrook Partners has a “Team Canada” group in New York and is scouring for opportunities in the country. In March, Fort Worth, Texas-based PE player TPG Capital bought Encana Corp.’s Wyoming natural gas assets for US$1.8-billion.
MKE Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held