Toronto-based private equity firm Northleaf Capital Partners has raised $206 million for its private equity secondaries fund. This figure surpasses the fund’s initial $200 million target. According to the firm, the fund plans on doing a final close in December 2013.
TORONTO (November 6, 2013) – Northleaf Capital Partners (“Northleaf”), Canada’s largest independent global private markets fund manager and advisor, is pleased to announce that its specialist private equity secondaries fund, Northleaf Secondary Partners (the “Fund”), has closed on US$206 million, surpassing its initial $200 million target. Leveraging Northleaf’s long-standing global private equity program and the strong 10-year track record that the firm has generated in secondary transactions, Northleaf Secondary Partners was launched to capitalize on investment opportunities in the current private equity secondary market. The Fund anticipates a final closing in December 2013.
“Northleaf Secondary Partners has a global strategy focused on smaller transactions across geographies, fund sizes, strategies and sectors,” said Michael Flood, Managing Director of Northleaf and co-head of the firm’s secondaries program. “Through our established and growing primary investment program, we benefit from existing investment relationships with more than 90 private equity fund managers in 14 countries that provide deal referrals and proprietary informational advantages. We appreciate the value investors have placed on our demonstrated ability to deliver strong returns and early cash distributions.”
“The Fund will continue to build on Northleaf’s existing private equity secondary program by proactively targeting traditional secondary market purchases of fund interests as well as both structured and direct secondary transactions,” explained Daniel Dupont, Managing Director of Northleaf’s London, UK office and co-head of the firm’s secondaries program. “Our deal sourcing efforts will remain focused on transactions that take place outside of the competitive auctions of broad portfolios that are typically pursued by the multi-billion dollar secondary funds and large institutional investors. We will continue to identify and pursue opportunities that feature cash flow positive businesses and portfolios with the potential for near-term liquidity, and properly incentivized and aligned management teams.”
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 60-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.