The Toronto-based firm is seeking to raise C$550 million, which is the same amount it raised for its previous fund in 2006. Previous investors have included MassPRIM, Kensington Capital Partners Ltd, Ontario Teachers’ Pension Plan and Teachers’ Private Capital, according to Capital IQ.
TorQuest targets mid-market buyouts in a variety of sectors, typically investing C$50 million of equity.
Its 11-person investment team is led by Senior Managing Partner Brent Belzberg, who in 1992 founded Harrowston Inc., a publicly traded investment fund that he sold in 2001 to Toronto-Dominion Bank’s private equity group. The firm, founded in 2002, has managed more than C$700 million of equity.
Torquest’s portfolio includes 4Refuel, a provider of fuel management and on-site fuelling services for businesses and government; FirstOnSite Restoration, a disaster restoration company; and Pinova Holdings, a company that manufactures specialty chemical products from pine trees and citrus fruit peels.
Image credit: TorQuest