Fulcrum has raised C$180 million for its fifth private equity fund. The target is C$300. Fulcrum Capital Partners V is backed by nine LPs and is expected to close in the first quarter of 2015. The pool is focused on investing in lower middle-market Canadian firms.
TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 18, 2014) – Fulcrum Capital Partners Inc. (“Fulcrum”) has completed a first closing of CAD180 million for its fifth private equity fund, Fulcrum Capital Partners V, L.P. (the “Fund”). The Fund is backed by nine institutional investors and Fulcrum expects to complete its final closing at its target size of CAD300 million in the first quarter of 2015 given the strong interest being shown in the Fund by both Canadian and international investors.
Fulcrum is a Canadian based private equity investor which is actively investing in the lower tier of the Canadian middle market. From offices in Toronto and Vancouver, Fulcrum’s team of 14 professionals invests in private companies competing in a broad range of industries and in communities across Canada. The majority of Fulcrum’s eight Partners have worked together for over a decade. During this period at Fulcrum and its predecessor firm, the Partners have invested in 38 companies and realized 24 exits, generating a gross return on cash invested of 3.3x and a gross IRR of 28.7%.
John Philp, Managing Partner of Fulcrum in Toronto, commented: “Achieving the first closing of Fund V is particularly gratifying as it is validation from our investors of the Fulcrum team and its competitive platform. The Partners are proud of Fulcrum’s track record and are particularly proud of the transformation of Fulcrum into a Canadian leader in the tier of the market in which we operate. The timing of this newest fund couldn’t be better as we are in active negotiations and due diligence on an unprecedented number of exciting new investment opportunities, many of which are scheduled to close in the coming 60 days.”
Elm Capital is acting as the exclusive placement agent for the Fund outside Canada.