Clairvest racks up $1bn in first close of seventh mid-market fund

• Clairvest’s commitment to Clairvest Equity Partners VII is $300 million alongside $700 million from third-party investors
• Fund VII will be a successor to Fund VI, a $850 million investment pool which is currently completing its investment program
• Founded in 1987, Toronto-based Clairvest has more than C$4.3 billion of capital under management

Clairvest Group, a Canadian mid-market private equity firm, has held a first closing for Clairvest Equity Partners VII, raising about $1 billion.

Marketing of the fund commenced in April 2023 with a target fund size of $1 billion and a hard-cap of $1.2 billion.

At the first closing, Clairvest’s commitment to Clairvest Equity Partners VII is $300 million alongside $700 million from third-party investors.

“I am grateful for the unwavering support from our existing investors and am pleased to see the strong investor demand in this volatile market environment. We have remained disciplined in growing our fund size within our capabilities and will continue executing our core investment philosophy of backing owner-operators in our active industry domains,” said Ken Rotman, CEO and managing director of Clairvest, in a statement. “Our achievements over the last three decades are credited to our exceptional team at Clairvest, whom we have continued to build from the bottom up through our apprenticeship model.”

Clairvest Equity Partners VII will be a successor to Fund VI, a $850 million investment pool which is currently completing its investment program.

Founded in 1987, Toronto-based Clairvest has more than C$4.3 billion of capital under management. Over the last 30 years, the firm’s investing generated a gross multiple of capital of 4.2x, resulting in a 25 percent pooled gross IRR on its 41 realized and substantially realized investments.

Goodmans acted as fund counsel. Metric Point Capital was the placement agent.