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June 09, 2015
Cadwalader, Wickersham & Taft LLP, a leading counselor to global financial institutions and corporations, is advising Canada Pension Plan Investment Board (“CPPIB”) in a transaction in which an affiliate of its wholly owned subsidiary, CPPIB Credit Investments Inc., has signed an agreement with GE Capital to acquire 100% of the Company’s U.S. sponsor lending portfolio, Antares Capital, alongside Antares management for a total consideration of $12 billion. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close during the third quarter of 2015. Cadwalader is providing advice in connection with the financing of the transaction.
Based in Chicago, Illinois, Antares is the leading lender to middle market private equity sponsors in the U.S., offering a “one-stop” source for lending and other services to middle market private equity sponsors within a $96 billion a year market. Over the past five years, Antares has provided more than $120 billion in financing.
Canada Pension Plan Investment Board 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 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, Luxembourg, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments.
The Cadwalader team is led by Capital Markets partner Neil Weidner, Tax partner David Miller and Corporate partner Aly El Hamamsy.