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The company follows a distinct investment approach based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies.
Fremont, CA: Canadian private equity firm Novacap raised USD 706.5 million in its latest private equity fund. According to the company, the closing figures exceeded the target by nearly 45 percent, owing to the strong demand from new and existing investors. Using these new funds, Novacap Industries V aims to invest in companies with strong growth potential in the industrial and manufacturing sectors as well as in-service and distribution.
"We are proud to have been able to close the 5th generation Novacap Industries fund with a truly global limited partner base," said Mr. Jacques Foisy, Chairman of the Board and Managing Partner of Novacap Industries, "The success of the fundraiser will allow us to continue to grow and develop businesses in Canada and beyond." The funding round was launched earlier in 2018 with a target to raise USD 488.5 million. The resultant funds exceeded expectations thanks to commitments from pension funds, financial institutions, insurance companies, family offices, and high net-worth individuals across North America, Europe, and Asia.
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Founded in 1981, Novacap is a leading Canadian private equity firm with $3.6 billion of assets under management. The company follows a distinct investment approach based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. The fund is also expected to be used towards maintaining its current strategy of investing in North American mid-market manufacturing companies, food processors, business service providers, and distributors with the ability to become North American leaders in their respective fields.
Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 38 years, the firm has invested in more than 90 companies and completed more than 130 add-on acquisitions. The funds received from pension funds, financial institutions, insurance companies, family offices and high net-worth individuals across North America, Europe, and Asia will be used for investment in companies with strong growth potential in the industrial and manufacturing sectors as well as in-service and distribution.
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