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TorQuest Partners closes third partnership at $535 mln

Toronto-based private equity firm TorQuest Partners has closed its third fund, TorQuest Partners Fund III, raising $535 million in total. Backed by Canadian and international pension funds, banks and family offices, Fund III will target investments ranging from $15 million to over $100 million in mid-market companies based in Canada and the U.S. The firm’s senior managing partner Brent Belzberg said the “success of this fundraising is a strong validation of our team and historical track record.” Last month, TorQuest sold its portfolio company Associated Brands GP Corp., a manufacturer and supplier of private-label dry blend food and household products, to TreeHouse Foods Inc. (NYSE: THS) of Oakbrook, Ill., for $187 million.

PRESS RELEASE

TorQuest Partners closes Third Private Equity Fund at C$535 million

September 10, 2013

TORONTO, ON – Toronto-based private equity firm TorQuest Partners announced today the final closing of its third fund, TorQuest Partners Fund III, with C$535 million of committed capital. TorQuest Partners Fund III will target middle-market private equity investment opportunities in Canada and the United States.

“The success of this fundraising is a strong validation of our team and historical track record as we use the firm’s capital, experience and expertise to help build great businesses,” said Brent Belzberg, Senior Managing Partner. “We appreciate the support of both our returning and new investors.”

TorQuest Partners Fund III, represents the third private equity fund for TorQuest and builds on the successful long-term track record of its key principals. Backed by leading Canadian and international pension funds, banks, and family offices, TorQuest Partners Fund III is one of the largest independent private equity funds in Canada.

TorQuest Partners Fund III will adhere to the same successful investment strategy employed in the TorQuest’s previous two funds and at Harrowston Inc., a publicly-traded private investment firm sold in 2001. The Fund’s objective is to invest in meaningful positions in high-quality companies operating in established industries that exhibit strong market positions and significant growth opportunities with quality management teams.

The equity investments targeted by TorQuest Partners Fund III will range in size from C$15 million to in excess of C$100 million with enterprise values between C$40 million and C$250 million. The fund will invest primarily in Canada, but will also pursue investments elsewhere.

“We believe strong management teams are the lifeblood of our investments and that we can create value without excessive leverage or financial risk,” said Eric Berke, Managing Partner. “We are excited by the opportunities we are seeing today.

TorQuest Partners Fund III includes Torquest Partners Fund III, L.P., Torquest Partners Fund (U.S.) III, L.P. and Torquest Capital Fund III, L.P.

TorQuest Partners
Founded in 2002, TorQuest Partners is a leading Canadian-based manager of private equity funds. With more than C$1 billion of equity capital under management TorQuest seeks to pursue investments in middle market and later stage companies with the goal of building value through opportune acquisitions, strategic leadership and the timely use of financial expertise. For more information about TorQuest Partners please visit www.torquest.com.

For further information:
TorQuest Partners media contact:

Josh Pekarsky, Longview Communications
(604) 694-6030

Photo courtesy of Shutterstock.