Canadian private-markets investor Northleaf Capital Partners has secured US$2.2 billion in new commitments for its global private equity program.
The capital was raised for Northleaf Private Equity Investors VII (NPE VII), Northleaf Secondary Partners II (NSP II) and several separately managed accounts.
NSP II, the firm’s second secondaries fund, was closed above target at US$800 million. NPE VII remains open to new investors until early 2019.
Northleaf’s strategy combines mid-market fund investments with secondary deals and direct minority investments and co-investments.
The Toronto-based firm now oversees more than US$11 billion in private equity, private credit and infrastructure commitments on behalf of institutional investors in North America and Europe.
Photo: Stuart Waugh, managing director and managing partner of Northleaf Capital Partners.
Northleaf raises more than US$2 billion for global private equity program
Specialist secondaries fund hits US$800 million, exceeding target
Northleaf’s private markets commitments under management now total more than US$11 billion
TORONTO (September 19, 2018) – Northleaf Capital Partners (Northleaf) announced today it has raised US$2.2 billion in new capital across its global private equity program. Northleaf now manages more than US$11 billion in private equity, private credit and infrastructure commitments on behalf of institutional investors in Canada, Europe and the United States.
The new capital raised for Northleaf’s global private equity program includes commitments to Northleaf Private Equity Investors VII (NPE VII), the firm’s seventh global fund, Northleaf Secondary Partners II (NSP II), the firm’s second specialist secondaries fund that closed above target at US$800 million, and a number of discretionary separately managed accounts that invest alongside Northleaf’s pooled investment funds. Both NPE VII and NSP II have commenced their investment periods, which will run through 2020. NPE VII will remain open to new investors until early 2019.
“We are very pleased with the strong support from both existing and new investors,” said Stuart Waugh, Managing Partner of Northleaf. “Our integrated private equity strategy combines mid-market fund investments with secondary market transactions and direct minority investments and co-investments. This differentiated, global approach has continued to generate long-term returns for our investors while managing risk through diversification and disciplined portfolio construction.”
Northleaf recently announced a direct investment in Encore Textiles, a US-based outsourced linen management services provider, showcasing Northleaf’s ability to provide customized, one-stop capital structure solutions. Northleaf also recently announced the successful exit of its investment in Centaur Holdings, LLC, which was acquired through a secondary market transaction in November 2016.
“We continue to demonstrate the ability to identify and acquire mid-market private companies with the potential to create long-term shareholder value,” said Michael Flood, Managing Director and Head of Northleaf’s Private Equity team. “At the same time, we are actively selling our mature portfolio investments at a profit and returning cash to investors. The ability to generate early cash back to investors is a hallmark of our secondary market strategy, in particular.”
Northleaf has continued to expand its investment team and global office footprint, leveraging the proprietary investment insights and deal flow generated by its integrated private markets platform. In recent months, the firm announced the opening of its New York office, and has further strengthened its global investment capabilities with the addition of Matt Shafer as a Managing Director, Private Equity in New York. Northleaf’s New York location is the firm’s seventh office alongside Toronto, Montreal, London, Chicago, Menlo Park and Melbourne. Northleaf has a team of 110 people focused exclusively on mid-market investments in private equity, private credit and infrastructure opportunities on behalf of more than 80 institutional investors globally.
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private markets fund manager with more than US$11 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices.
Northleaf’s 110-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 250 active investments in 14 countries, with a focus on mid-market companies and assets. Northleaf currently manages seven global private equity funds, two specialist global private equity secondaries funds, a global private credit fund, two direct OECD-focused infrastructure funds and a series of customized investment mandates tailored to meet the specific needs of institutional investors and family offices. For more information on Northleaf, please visit www.northleafcapital.com.