Clairvest Closes 5th Private Equity Fund At $600 Million
Toronto, Ontario (July 28, 2014) – Clairvest Group Inc. (TSX: CVG, “Clairvest”) today announced it has held a final closing for Clairvest Equity Partners V Limited Partnership and its parallel partnerships (“CEP V”).
Marketing of CEP V commenced in February 2014 with a fund target size of $500 million. CEP V closed at $600 million, the fund’s hard cap, and was materially oversubscribed. Clairvest’s commitment to the fund is $180 million alongside $420 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,” said 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”, added 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 Limited Partnership, a $467 million investment fund pool that closed in January 2011.
Clairvest Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753