Northleaf raises $255 mln in final close of global PE secondaries fund

Canadian private markets investment firm Northleaf Capital Partners has closed its dedicated private equity secondaries fund, Northleaf Secondary Partners, at US$255 million. As exclusively reported this week by peHUB Canada, capital committed to the fund was 27% above the US$200 million target set for it. With the closing of Northleaf Secondary Partners, the firm now has approximately $600 million of capital available for investments in the global secondaries market. Based in Toronto, Northleaf manages over $5 billion in assets on behalf of pension funds, endowments, foundations, family offices and other institutional investors.

PRESS RELEASE

Northleaf Secondary Partners Closes on $255 Million in Commitments

Surpasses target of $200 million and brings global secondary program to ~$600 million in available capital

TORONTO–(BUSINESS WIRE)–

Northleaf Capital Partners (“Northleaf”), Canada’s largest independent global private markets fund manager and advisor, is pleased to announce the final closing of Northleaf Secondary Partners (“NSP”), its specialist private equity secondaries fund. With strong support from both new and existing Northleaf investors, NSP raised $255 million, surpassing its initial $200 million target. NSP will capitalize on attractive opportunities in the current market, building on Northleaf’s successful ten-year secondaries investment track record. With the closing of NSP, Northleaf now has approximately $600 million of capital available for secondary investments across its global private equity program.

“Secondary investing has been a return enhancing component of our global private equity program since 2003,” said Michael Flood, Managing Director of Northleaf and co-head of the firm’s secondaries program. “Given the prospect for strong returns and early cash distributions, secondaries are an important component of a well-diversified private equity program. NSP will continue our established strategy of proactively targeting traditional secondary market purchases of fund interests, as well as both structured and direct secondary transactions. Our secondaries team is able to transact quickly, leveraging a sourcing model that draws on Northleaf’s global network of relationships with leading institutional investors, fund managers, intermediaries and other secondary buyers.”

“With $600 million available for secondary investments, we target transactions where we have a competitive advantage and are pursuing deals that generally take place outside of the competitive auctions of large portfolios,” said Daniel Dupont, Managing Director of Northleaf’s London, UK office and co-head of the firm’s secondaries program. “While our strategy remains focused primarily on smaller mid-market transactions, we also have the ability to scale up to larger transaction sizes, allowing us to evaluate a wide range of opportunities globally.”

About Northleaf Capital Partners

Northleaf Capital Partners is an independent global private equity and infrastructure manager and advisor, with more than $5 billion in commitments under management on behalf of public, corporate and multi-employer pension plans, university endowments, foundations, financial institutions and family offices.

Northleaf’s 65-person team, located in Toronto, Canada, London, UK, and Menlo Park, USA, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf currently manages six global private equity funds, a specialist private equity secondary fund, an infrastructure co-investment fund and a series of customized private equity and infrastructure investment mandates tailored to meet the specific needs of institutional investors and family offices. For more information on Northleaf, please visit www.northleafcapital.com.

Contact:
Northleaf Capital Partners
Jeff Pentland, +1-416-477-6165
Managing Director
jeff.pentland@northleafcapital.com
www.northleafcapital.com

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