Date Closed

October 29, 2010

Lead Office

Toronto

Value

87.00 Million CAD

On October 29, 2010, Star Portfolio Corp. completed its initial public offering of 7,250,000 units (the “Units”) in respect of Star Yield Managers Class (the “Fund”) at a price of C$12.00 per Unit for aggregate gross proceeds of C$87 million. Each Unit consisted of one Star Yield Managers Class share of the Corporation and one transferrable warrant to purchase one Share at a subscription price of C$12.00 on October 31, 2011. The syndicate of agents was co-led by BMO Nesbitt Burns Inc., Dundee Securities Corporation, CIBC World Markets Inc. and RBC Dominion Securities Inc. and included National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Manulife Securities Incorporated, Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.  The Fund's investment objectives are to provide holders of Shares with (i) monthly tax-efficient distributions, initially estimated to be C$0.07 per Share (C$0.84 per annum representing an annual cash distribution of 7.0% per annum based on the C$12.00 per Unit issue price); and (ii) the opportunity for capital appreciation.

McCarthy Tétrault LLP represented Star Portfolio, the issuer, with a team led by Andrew Armstrong.