Northleaf Capital Partners (Northleaf) has raised USD2.2 billion in new capital across its global private equity program. Northleaf now manages more than USD11 billion in private equity, private credit and infrastructure commitments on behalf of institutional investors in Canada, Europe and the United States.
The new capital raised for Northleaf’s global private equity program includes commitments to Northleaf Private Equity Investors VII (NPE VII), the firm’s seventh global fund, Northleaf Secondary Partners II (NSP II), the firm’s second specialist secondaries fund that closed above target at USD800 million, and a number of discretionary separately managed accounts that invest alongside Northleaf’s pooled investment funds. Both NPE VII and NSP II have commenced their investment periods, which will run through 2020. NPE VII will remain open to new investors until early 2019.
“We are very pleased with the strong support from both existing and new investors,” says Stuart Waugh, Managing Partner of Northleaf. “Our integrated private equity strategy combines mid-market fund investments with secondary market transactions and direct minority investments and co-investments. This differentiated, global approach has continued to generate long-term returns for our investors while managing risk through diversification and disciplined portfolio construction.”
Northleaf recently announced a direct investment in Encore Textiles, a US-based outsourced linen management services provider, showcasing Northleaf’s ability to provide customised, one-stop capital structure solutions. Northleaf also recently announced the successful exit of its investment in Centaur Holdings, LLC, which was acquired through a secondary market transaction in November 2016.
“We continue to demonstrate the ability to identify and acquire mid-market private companies with the potential to create long-term shareholder value,” says Michael Flood, Managing Director and Head of Northleaf’s Private Equity team. “At the same time, we are actively selling our mature portfolio investments at a profit and returning cash to investors. The ability to generate early cash back to investors is a hallmark of our secondary market strategy, in particular.”
