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Clairvest closes fifth PE fund at USD600m

Tue, 29/07/2014 - 16:03

Clairvest Group has held a final closing for Clairvest Equity Partners V and its parallel partnerships (CEP V).

Marketing of CEP V commenced in February 2014 with a fund target size of USD500 million.
 
CEP V closed at USD600 million, the fund's hard cap, and was materially oversubscribed.
 
Clairvest's commitment to the fund is USD180 million alongside USD420 million from third party investors.
 
"We are delighted to have a renewed commitment by many of our existing fund investors as well as to welcome several new investors to CEP V. We are pleased that the market was receptive to our investment strategy, track record and focus on alignment of interests," says Ken Rotman, co-CEO of Clairvest.
 
"Our success is premised on fundamental value creation and proactive deal origination, and ensuring a true alignment with our investment partners and fund investors," adds Jeff Parr, co-CEO of Clairvest. "Consistent with our prior funds, the general partner, Clairvest, will be the single largest investor in the fund."
 
Atlantic Pacific Capital acted as Clairvest's exclusive placement agent to market the fund outside of Canada.
 
CEP V is a successor fund to Clairvest Equity Partners IV, a USD467 million investment fund pool that closed in January 2011.


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