ATB Financial launches C$50m private equity fund

Canadian financial institution ATB Financial has formed ATB Private Equity LP, a C$50 million fund.

Canadian financial institution ATB Financial has formed ATB Private Equity LP, a C$50 million fund. The fund will provide minority financing to Alberta-based businesses. An existing growth fund, ATB Capital, will be folded into the new vehicle.

PRESS RELEASE

EDMONTON, May 8, 2020 /CNW/ – ATB Financial (ATB) is pleased to announce the formation of ATB Private Equity, Limited Partnership (LP), a fund with $50 million of committed capital dedicated to providing minority interest equity to Alberta businesses.

Since 2016, ATB has been providing growth equity capital to Alberta entrepreneurs through its merchant banking group, ATB Capital, which will be folded into the new fund. To date, ATB has invested $30 million in nine separate transactions across a variety of industries—from food production and health care to manufacturing and energy services.

“There is no doubt, Albertans and their businesses are facing challenging times,” said Jon Horsman, senior executive vice president of business, ATB Financial and CEO of AltaCorp Capital. “ATB remains steadfast in supporting the growth of businesses which are at the heart of our economy. This new fund and increased financial commitment reinforces our strong support of Alberta’s entrepreneurs and their dedication to their businesses.”

ATB Private Equity, LP, will continue to champion and partner with Alberta businesses by providing equity to small and medium sized businesses across the province. The focus of the fund will remain on minority interest equity investments between $500,000 and $5 million, and partnering with other private equity funds, pension funds, family offices, and high net worth individuals looking to invest in Alberta.

Heading the fund is well-respected corporate advisor and financier, Terry Freeman, former head of investments, ATB Capital, and managing director, Northern Plains Capital. Joining his team are Jan Cerny, managing director, and investment analysts Nataliya Kovalenko and Steve Dobbin—experienced corporate finance professionals with strong business roots in Alberta.

About ATB Financial
With $54.3 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times and are still the only financial institution in more than 100 Alberta communities. ATB’s more than 5,500 team members love to deliver exceptional experiences to our 775,000-plus customers in 173 branches, 142 agencies, 24-hour Client Care Centre, four entrepreneur centres, or through our digital banking options. Everything we do is focused on how we can serve Albertans—from providing expert advice and supporting entrepreneurs to helping Albertans buy a home and grow their wealth.