Black Swan Energy has reached agreements with three major private equity firms to invest up to C$350 million ($365 million) in the exploration and production company, which focuses on Western Canada. The Canada Pension Plan Investment Board (CPPIB), one of Canada's top pension plan administrators, said it would invest up to C$100 million of the funds. It was not clear how the remaining investment would be divided between co-investors Warburg Pincus, a U.S.-based firm with $35 billion invested in hundreds of countries around the world, and KERN Partners, an independent energy-sector private equity firm based in Calgary, Alberta. About C$4.9 billion in private equity was invested in Canada last year, the first rise in three years, with deals such as CPPIB's C$900 million purchase of a 10 percent stake in the 407 toll highway near Toronto.
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