What's New

Last week, CIBC Capital Markets’ Dominik Kania shared key insights at the A&O Shearman Funds & Asset Management event, discussing the rapidly evolving fund finance needs of alternative asset managers amid a slower exit environment and renewed fundraising activity. Joined by Kate Baker of HSBC Asset Management, Bart van Dijk of ILPA, and Lukas Zeman of Campbell Lutyens, the panel explored the growing demand for innovative financing solutions, including hybrid, NAV, and CFO financings. They also discussed trends in GP-led continuation funds, the evolving roles of bank and non-bank lenders, and current market conditions. Hosted by Jan Sysel and Emma Danforth of A&O Shearman, the session highlighted both the opportunities and challenges facing the industry from the perspectives of lenders, GPs, advisors, and law firms. Thank you to everyone who attended and contributed to an engaging and insightful discussion.

Congratulations to Universities Superannuation Scheme for completing the acquisition of VTG Rail UK. With a fleet of ~4,500 rail freight wagons, VTG Rail UK is a leading freight lessor in the UK. CIBC is delighted to have underwritten USS' acquisition financing. Under USS’ ownership, VTG Rail UK will continue investing in growing its fleet and building on its strong customer base, while maintaining its focus on operational excellence, innovation and high-quality customer service.

Against a backdrop of shifting geopolitics, evolving trade dynamics, economic uncertainty, and growing national security considerations, we hosted clients and leaders from business, government, economics, and defence at an Executive Breakfast Meeting held at CIBC Square. The discussions explored how these forces are reshaping the operating environment for Canadian organizations. Thank you to all attendees and to our speakers, Major General (Ret.) Tammy Harris, Senator Leo Housakos, Benjamin Tal and the Hon. Lisa, who shared valuable insights on navigating an increasingly complex global landscape, building resilience amid supply chain and energy security challenges, and positioning businesses for long-term success in a rapidly changing world.

As we continue building a world-class team that will drive industry leadership and strong client outcomes in the rapidly evolving U.S. Power and Renewables sector, we are pleased to welcome Ricardo Pereira. Ricardo joins us as Managing Director and Head of US Project Finance Power and Renewables. Ricardo has extensive experience structuring and executing financings across the capital stack of power and renewables projects, helping us strengthen relationships with sponsors and investors across the market. Backed by deep industry experience and a strong leadership record, Ricardo and the team are well positioned to advance our power and renewables strategy, deepen client engagement, and strengthen CIBC Capital Markets’ position as a leader in this dynamic and strategically important sector.

Congratulations to ArcLight Capital Partners, LLC (“ArcLight”) and Olympus Power ("Olympus") on entering into a definitive agreement to sell a 100% interest in the 136 MW Bay Shore plant to Gate City Power for an undisclosed amount. ArcLight is a leading infrastructure investor which has owned and operated ~70 GW of power and 48,000 miles of transmission infrastructure. Olympus is a U.S. independent power producer which owns and manages ~5 GW of power plants. Gate City Power, and its sponsor Ara Partners, invest in, own and operate North American power generation assets. CIBC Capital Markets is pleased to have acted as Exclusive Financial Advisor to ArcLight and Olympus.

Congratulations to the CIBC Capital Markets Wealth Solutions Group on being recognized as Best Distributor and Best Performance in Canada at the SRP Americas Awards 2026. This recognition highlights the team’s outstanding contribution to the structured products and index annuity markets.

Congratulations to Slate Grocery REIT on entering into a definitive agreement to be acquired by Brixmor Property Group and Everview Partners for US$13.00 per unit in cash, representing a total enterprise value of approximately US$2.3 billion. This transaction is the culmination of the strategic review process previously announced by the REIT on May 22, 2026. CIBC Capital Markets is pleased to have acted as Financial Advisor to the Special Committee of Slate Grocery REIT.

Last week, CIBC Capital Markets’ Wayne Lee attended the 100 Women in Finance event in Luxembourg for a timely discussion on the impact of rising sovereign debt and persistent budget deficits on global capital markets amidst an evolving macroeconomic environment. The conversation explored what these trends could mean for sovereign credit ratings, foreign exchange markets and government bond yields, and the fiscal outlook for major economies around the world. CIBC was proud to sponsor the event and support 100 Women in Finance’s mission to strengthen the global finance industry by empowering women at every stage of their careers.

Congratulations to Enbridge Inc. on the successful closing of a $3 billion Common Equity Offering. Net proceeds from the Offering will be used to partially fund announced acquisitions and to create financial flexibility to fund Enbridge’s potential future growth opportunities. This transaction marks the largest Bought Deal Treasury Offering in 2026. CIBC Capital Markets is proud to have acted as Joint Lead Bookrunner.

The Private Placements market continues to evolve. Last week, the CIBC Capital Markets Debt Capital Markets team were at PPIF Europe, where industry leaders discussed issuer diversity, cross-border capital flows, infrastructure opportunities and financing solutions available to issuers, among others.

Congratulations to Brookfield on entering into an agreement, through its flagship private equity strategy, to acquire 100% of Reliance Worldwide Corporation (“Reliance”) (ASX: RWC), a global manufacturer of plumbing and heating solutions, for US$1.65 billion. Reliance is headquartered in the US, with operations across the Americas, Europe and the Middle East (EMEA), and Asia Pacific. The Reliance Board has unanimously recommended the all-cash proposal of US$3.38 per share to shareholders, who will vote on the agreement. The proposal reflects an enterprise value for Reliance of approximately US$2.9 billion. CIBC Capital Markets is pleased to have acted as an Initial Underwriter and Joint Lead Arranger on this underwritten debt financing package including a US$300 million ABL Facility and US$1.35 billion Term Loan B. This is CIBC’s inaugural role as an initial underwriter for a Brookfield US leveraged buyout transaction (outside of EIT), underscoring the firm’s tremendous momentum in the Leveraged Finance market.

Congratulations to The Baldwin Group, Inc. (NASDAQ: BWIN) (“Baldwin” or the “Company”) on entering into a definitive agreement under which an entity to be formed by DFO Management (“DFO” or “Dell Family Office”) and Sequence Holdings (“Sequence”) (“Parent”) will acquire a majority interest in the Company in an all-cash transaction valued at approximately US$7.7 billion. CIBC Capital Markets is pleased to have acted as an Initial Underwriter and Joint Lead Arranger/Joint Bookrunner on the $3.665 billion underwritten debt financing package, comprised of a US$500 million Revolving Credit Facility, US$415 million Delayed-Draw Term Loan, and $2,750 million Term Loan B.

Ready to kick-start your future in capital markets? CIBC Capital Markets offers two opportunities for first- and second-year undergraduate students from groups traditionally under-represented in financial services: Capital Markets Student Mentorship Program: A mentorship, networking and professional development for select first- and second-year students Global Investment Banking, Summer 2027 Advancement Program: A two-year career development experience for eligible second-year students. Build your skills, connect with industry leaders and grow your network, all while exploring where a career at CIBC could take you. Take the next step toward a career in capital markets. Learn more and apply.

CIBC Capital Markets’ Mark Tverskoy, Gabrielle Garcia, Holden Keating, and Nil Mistry will be among the panelists and industry professionals at ABS East 2026 in Miami, Florida, sharing insights on collaterized loan obligations, mortgages, and the evolving credit markets in the structured finance industry.

As we continue to expand our U.S. FIG Debt Capital Markets platform, we are pleased to welcome Brendin Cave as Managing Director and Head, U.S. FIG Debt Capital Markets. With nearly two decades of experience in FIG Debt Capital Markets, Brendin will play a key role in deepening integration across CIBC’s financing, advisory, and capital markets capabilities. His leadership will further enhance the strategic advice and tailored solutions we deliver to clients, while strengthening our position across Global Financial Institutions. Welcome to the team, Brendin!

Last week, CIBC Capital Markets was proud to host a client reception during Quantum Week, bringing together clients, industry leaders, and innovators to connect around the future of quantum computing and engineering. The evening created an opportunity to exchange perspectives on the pace of innovation, emerging applications, and the importance of collaboration in translating breakthrough technologies into real-world impact.

Congratulations to Granite Shore Power LLC, a portfolio company of Atlas Holdings LLC, for entering into a definitive agreement to sell an 80.1% ownership interest in a 502 MW portfolio of six operational conventional power facilities to Gate City Power Holdings LLC for an undisclosed amount. The portfolio comprises a diversified fleet of generation assets anchored by the dual-fuel Newington Station and five remote-start peaking units across New Hampshire. The transaction further underscores CIBC’s market leading position in U.S. Power M&A. CIBC Capital Markets is proud to have acted as Exclusive Financial Advisor to Atlas Holdings.

Nuclear momentum is evolving globally, but the focus is shifting from ambition to execution. Against the backdrop of the World Nuclear Symposium in London, CIBC Capital Markets' Gayatri Desai and Richard Ma, in collaboration with Deloitte, convened senior leaders from across the UK and Canadian nuclear ecosystems for a roundtable discussion on the policy, financing, regulatory and delivery conditions required to accelerate and sustain the next generation of nuclear development.

Congratulations to KKR, in collaboration with Apollo, on the successful formation of a new joint venture, to fund the previously sanctioned Aspen Point and Sunrise Expansion Programs (collectively, "the Expansions") of the Westcoast natural gas pipeline system. Under the agreement, KKR and Apollo will invest approximately $2.7 billion to fund the Expansions, including $0.7 billion of cash to Enbridge at closing, in exchange for an indirect, cumulative 29% interest in the aggregate Westcoast system upon Sunrise entering service. CIBC Capital Markets is proud to have acted as Financial Advisor to KKR.

As we continue to strengthen our position in the mining sector, we are pleased to welcome Rob Brown to the team as Managing Director and Head of Vancouver Mining. With over 30 years of experience as a mining executive, Rob has deep expertise in corporate development, M&A, and global exploration strategy and will lead the strategic direction and market presence of CIBC Capital Markets’ Mining business in Western Canada, optimizing opportunities to drive growth, enhance client connectivity, and align regional priorities with our broader business objectives. Welcome to the team, Rob!

Congratulations to KfW on successfully pricing a new US$3 billion 5-year US Dollar Benchmark Bond. Despite ongoing volatility in financial markets, KfW was able to take advantage of a stable rates backdrop to attract high-quality interest from a geographically diverse investor base and demonstrate its leading role in the SSA market. CIBC Capital Markets is pleased to have acted as Joint Lead Manager on this transaction.

Congratulations to Invenergy and HA Sustainable Infrastructure Capital (“HASI”) on the closing of a strategic equity partnership supporting a 2.7 GW U.S. renewable energy portfolio. The portfolio comprises 10 utility-scale solar, solar-plus-battery storage and wind projects across six major U.S. power markets and seven states. This partnership builds on the companies’ longstanding relationship, supports Invenergy’s continued growth, and reflects growing demand for large-scale, contracted clean energy and storage assets. CIBC Capital Markets is pleased to have acted as Exclusive Financial Advisor to Invenergy.

Join CIBC Capital Markets' Giorgia Anton and other industry leaders at the Women in Payments Canada 2026 Symposium in Toronto. The panel will explore the evolving digital currency landscape in Canada, and implications for businesses, consumers, regulation, risk, and innovation across the financial system.

As we continue to grow our sector-focused capabilities within Corporate and Investment Banking, we are pleased to welcome Ivo Voynov to the team as Managing Director and Head, Sports and Entertainment. With more than 15 years of experience across sports, media and investment banking, Ivo brings deep expertise in financing and strategic advisory. He will lead the development of our Sports and Entertainment franchise, helping us strengthen relationships across the sector and deliver more integrated solutions to support clients’ growth, partnerships and other strategic opportunities. Welcome to the team, Ivo!

Congratulations to Shell Energy North America (US), L.P. ("SENA") on the sale of interests in RISEC Holdings, LLC (RISEC) to Constellation Energy Generation, LLC for $715 million. RISEC owns a 609-MW, two-unit combined cycle gas turbine power plant that serves the New England power market. CIBC Capital Markets is pleased to have acted as Financial Advisor to SENA on this transaction.

Join CIBC Capital Markets’ Lauren Looi and other industry experts from the structured products community at SP Intelligence Canada 2026 on September 17 in Montreal for a timely discussion on evolving trends in structured products, including their strategic application across risk profiles, account types, and market environments, from both dealer and manufacturer perspectives.

To support our dedicated focus on how we manage and optimize our balance sheet and credit portfolio, CIBC Capital Markets is pleased to welcome Alexis Bancroft as Managing Director, Balance Sheet & Portfolio Optimization. With more than 20 years of leadership experience spanning credit portfolio management, lending, capital allocation and risk strategy, Alexis brings deep expertise to this role as she takes on the responsibility of driving more effective capital allocation, optimizing funding and risk, and supporting client and business growth. Welcome to the team, Alexis!

Congratulations to CIBC Capital Markets’ Pallavi Tripathi and Gurveer Bains on being named in the 2026 Top 100 list of Canada's Most Powerful Women by Women's Executive Network (WXN) in the AI and Technology, and Emerging Leaders categories, respectively. This recognition honors their leadership, achievements, and the meaningful impact made within their organizations, industries, and communities.