Toronto-based Penfund, an independent investment company specializing in providing capital to middle market companies, has announced the USD 240 million first closing of its newly launched
Toronto-based Penfund, an independent investment company specializing in providing capital to middle market companies, has announced the USD 240 million first closing of its newly launched Penfund Capital Fund III.
"As Canada’s first institutional fund with the ability to invest across the capital structure, Penfund Capital Fund III represents a significant innovation in the Canadian capital market," said John Bradlow, a Penfund partner.
Bradlow added that Penfund is now a one-stop integrated financial partner providing high yield and mezzanine debt, control and minority equity and alternative financing products such as bridge facilities, standby lines, underwritten facilities and financial guarantees.
Bradlow said that Penfund provides capital in amounts of USD 5 – USD 50 million to support transactions involving acquisitions, buyouts, recapitalizations, ownership reorganizations and organic growth.
Penfund is an independent investment company specializing in providing junior capital to middle market companies. Penfund provides high yield and mezzanine debt, control and minority equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund III. Penfund manages institutional funds sourced from Canadian pension funds and insurance companies and has invested more than USD 2.2 billion in over 200 companies since its founding in 1979.
