Northleaf wraps up inaugural direct private equity fund at $385m

The closing brings total Northleaf private equity capital raised in the past 12 months to $2 billion.

  • The NCO strategy invests in mid-market businesses in recession-resilient sectors
  • Northleaf’s total capital commitments raised to date across all strategies exceed $20 billion
  • Its backers include public, corporate and multi-employer pension plans, endowments and foundations, financial institutions and family offices

Northleaf Capital Partners a Canadian private markets investment firm, has closed its debut direct private equity fund, Northleaf Capital Opportunities (NCO), at $385 million. The original target was $350 million.

The closing brings total Northleaf private equity capital raised in the past 12 months to $2 billion.

“We are very pleased by the strong support from new and existing investors in our first direct private equity investment fund,” said Mike Flood, managing director & head of private equity at Northleaf, in a statement. “We launched NCO as a value-added co-investment fund that leverages the strengths of the broader Northleaf platform, our twenty-year co-investment track record and our network of fund sponsor relationships to provide investors with differentiated access to mid-market company value creation.”

NCO invests in mid-market businesses in recession resilient sectors. The fund is expecting a partial realization for one of its investments, which will return more than 50 percent of invested capital in the company. A number of additional realizations are anticipated in the second half of 2022.

Northleaf has been investing in private equity-backed mid-market companies since 2001. Over the past twenty years, investors have entrusted more than $11 billion to Northleaf’s global private equity program. The program currently serves more than 120 institutional and family office investors across North America and the UK/EMEA.

Northleaf Capital Partners is a global private markets investment firm with more than $20 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices.