M&A Deal Summary

CPP Investments Acquires Parkway

On June 30, 2017, pension CPP Investments acquired real estate company Parkway for 1.2B USD

Acquisition Highlights
  • This is CPP Investments’ 3rd transaction in the Real Estate sector.
  • This is CPP Investments’ 21st largest (disclosed) transaction.
  • This is CPP Investments’ 13th transaction in the United States.
  • This is CPP Investments’ 5th transaction in Texas.

M&A Deal Summary

Date 2017-06-30
Target Parkway
Sector Real Estate
Buyer(s) CPP Investments
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.2B USD
Advisor(s) HFF Securities (Financial)
Hogan Lovells (Legal)

Target

Parkway

Houston, Texas, United States
Parkway, Inc. is an independent, publicly traded, self-managed real estate investment trust (“REIT”) that owns and operates high-quality office properties located in attractive submarkets in Houston, Texas.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 23 of 56
Sector: Real Estate M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 6
State: Texas M&A 5 of 7
Country: United States M&A 13 of 29
Year: 2017 M&A 7 of 8
Size (of disclosed) 21 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-25 Nord Anglia Education

London, United Kingdom

Nord Anglia Education is an international operator of premium schools, serving students from kindergarten through the end of secondary school (K-12). Together, they educate more than 37,000 students from kindergarten through to the end of secondary education. Nord Anglia Education was formed in 1972 and is based in London, United Kingdom.

Buy $4.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-18 Calpine

Houston, Texas, United States

Calpine is a generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Calpine was founded in 1984 and is based in Houston, Texas.

Buy $5.6B