Slate Asset Management launches real estate fund
Slate Asset Management is launching a real estate fund that will invest in commercial properties that need a little tender loving care to regain their lustre.
The new private fund is called the Slate Canadian Real Estate Opportunities fund, according to sources close to the company, and its first acquisition is a $200-million portfolio of 12 office buildings in Calgary from Dream Office REIT. Toronto-based Dream disclosed the sale last week, but did not reveal the buyer. Story
Underwriters blow out Alamos Gold shares after financing deal goes south
Underwriters were forced to slash the price on Alamos Gold Inc.'s recent $250-million (U.S.) financing after a team of Canadian and global investment banks was caught holding large amounts of unsold stock, according to sources familiar with the deal. The development means the large profit investment bankers were due to make went up in smoke – and highlights the inherent risks in any "bought deal" financing. Story
Kew Media to acquire $104.1-million portfolio of 10 companies
Kew Media Group Inc. is set to acquire a broad portfolio of 10 companies that own, produce and distribute film, television and other programming for $104.1-million.
From the Netflix documentary series Cooked, to lifestyle shows such as Dance Moms and Hockey Wives and a host of well-known documentaries, Kew is poised to buy companies that control 6,000 hours of media content sold in more than 150 countries. Story
Scotiabank teams up with Toronto AI startup DeepLearni.ng to collect debts
When Bank of Nova Scotia customers miss a credit card payment, an artificial intelligence system is shaping how the bank tries to get its money.
The system, which was completed in December, is the result of a partnership between the bank and DeepLearni.ng, a Toronto-based AI startup.
It analyzes the individual customer's past behaviour, as well as the bank's large data set around credit card collections, looking for connections.
"You're trying to find the patterns of behaviour that lead you to believe a customer will pay you back," says Neil Bartlett, Scotiabank's senior vice-president of Analytics. Story