TorQuest seeks up to $1.35 bln for fifth mid-market fund: AltAssets

Canadian private equity firm TorQuest Partners is aiming to raise up to $1.35 billion for its fifth mid-market fund, according to a report by AltAssets.

The fund’s predecessor, TorQuest Partners Fund IV, closed in 2016 at its $925 million hard cap.

Toronto-based TorQuest was founded in 2002 by Senior Managing Partner Brent Belzberg and Managing Partner Eric Berke.

As reported by PE Hub Canada last year, the firm has sustained a brisk deal pace of late, both buying and selling businesses.

Last month, TorQuest acquired Prepac Manufacturing Ltd, a Delta, British Columbia-based maker of ready-to-assemble home furniture.

Photo: Brent Belzberg, senior managing partner, TorQuest Partners.