GHP Funds

SVP I

SVP I, the debut fund for the firm, closed in December 2002 and invested with four highly successful leveraged buyout funds. SVP I is diversified by sector and geography.

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SVP II

SVP II is a leveraged buyout fund of funds which closed in December 2006. SVP II represents a continuation of the successful strategy utilized by the predecessor fund, primarily investing with large, top tier LBO and growth equity firms. SVP II is diversified by sector and geography.

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SVP RE I

SVP Real Estate I, LP ("SVP RE I"), closed in February 2008, is a private real estate fund of funds. As with SVP I & II, SVP RE I received allocations with historically successful, highly sought after underlying fund managers who pursue compelling investment strategies. The fund is diversified by sector (Office, Hotel, Industrial/Warehouse, Retail and Residential) and geography (U.S., Europe, and Asia/Pacific).

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GHP COF

The GHP Credit Opportunity Fund (“GHP COF”) is a fund of alternative credit and distressed debt funds that is being raised and invested to pursue two specific investment themes: (1) the de-leveraging of European Banks, and (2) the potential for a distressed cycle in U.S. High Yield Credit. GHP COF will pursue complex liquid and illiquid credit opportunities in the U.S. and Europe.

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GHP Library

Aurora to buy MedReleaf for $2.5 billion in pot mega-merger

Posted on by Granite Hall Partners

Aurora Cannabis will buy rival MedReleaf for C$3.2 billion ($2.51 billion), the companies said on Monday, the biggest deal yet to unify major Canadian marijuana growers.

The deal comes two months before cannabis is expected to be legalized for recreational use in Canada, and is the latest in a wave of mergers in the industry as marijuana makers — emboldened by similar moves in Europe and a number of U.S. states — seek to cut costs and gain scale.

 Canada’s relaxed regulations, a mature industry, and free-flowing capital have offered firms a unique opportunity to advance research without the legal and political risks that bog down growers in the United States and elsewhere.

“The combination strengthens our capacity to service the rapidly expanding global medical cannabis markets, and amplifies our early-mover advantage,” Aurora Chief Executive Officer Terry Booth said in a statement.

The acquisition is Aurora’s second large deal this year, coming just months after it bought CanniMed Therapeutics for C$1.1 billion.

Aurora and MedReleaf together expect to produce over 570,000 kilograms per year of cannabis through nine facilities in Canada and two in Denmark, the companies said.

Markham, Ontario-based MedReleaf sells dried cannabis and pot-based oils and capsules in Canada.

Aurora shareholders will own about 61 percent of the newly combined company, following the all-stock deal. Aurora offered to buy each MedReleaf share for C$29.44, representing an 18.2 percent premium to MedReleaf’s Friday closing price.

BMO Capital Markets was Aurora’s financial adviser, while Canaccord Genuity advised MedReleaf.

Separately on Monday, Aurora’s chief rival Canopy Growth said it would buy out a stake in a British Columbia joint venture and also announced a plan to list its shares on the New York Stock Exchange.

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