Globe & Mail fact checker on holidays this week, PE $ go missing
To think that the Globe and Mail’s “fund” reporter thinks that Onex is the only publicly-traded private equity firm on the TSX:
“Onex Corp., run by founder shareholder Gerald Schwartz, is the only pure-play private equity player on the Toronto Stock Exchange. U.S. buyout giant Blackstone Group went public last Friday on the New York Stock Exchange. Other major U.S. players, Kohlberg Kravis Roberts & Co. and Carlyle Group, may go also go public.”
Our LP and partner, Clairvest Group Inc. (CVG:TSX), was formed in 1987. At last count, they manage over half a billion of private equity. CVG founder Joe Rotman’s name graces the U of T business school. You’d have thought that the Globe would have heard of the University of Toronto’s business school.
Or, just check your own newspaper for some recent stories, such as this $800 million April 2007 transaction involving Clairvest. An 8.75x return for them.