News Briefs

Clairvest wraps up seventh mid-market fund at $1.2bn hard-cap

Clairvest committed $300 million to Clairvest Equity Partners VII alongside $900 million from third-party investors.

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  • CEP VII, which was oversubscribed, wrapped up capital raising in under four months
  • Clairvest held a first closing in June, reaching the fund’s $1 billion target.
  • As with prior funds, Clairvest is the vehicle’s single largest investor

Clairvest Group, a Canadian mid-market private equity firm, has closed Clairvest Equity Partners VII (CEP VII) at the flagship vehicle’s $1.2 billion hard-cap.

CEP VII, which was oversubscribed, wrapped up capital raising in under four months. Clairvest held a first closing in June, reaching the fund’s $1 billion target.

The firm committed $300 million to CEP VII alongside $900 million from third-party investors. As with prior funds, Clairvest is the vehicle’s single largest investor.

Founded in 1987 and based in Toronto, Clairvest is led by CEO and managing director Ken Rotman and president and managing director Michael Wagman. Under the current management team, the firm has initiated investments in 64 platform companies.

Clairvest this month announced the sale of Arrowhead Environmental Partners, a US non-hazardous solid waste management company that provides waste-by-rail disposal, to Waste Connections.