Northleaf Capital Partners has held a closing of its latest fund, Northleaf Secondary Partners, with $206 million of commitments, surpassing its initial $200 million target. The new fund anticipates having a final closing in December 2013.
“Northleaf Secondary Partners has a global strategy focused on smaller transactions across geographies, fund sizes, strategies and sectors,” said Michael Flood, Managing Director of Northleaf and co-head of the firm’s secondaries program. “Through our established and growing primary investment program, we benefit from existing investment relationships with more than 90 private equity fund managers in 14 countries that provide deal referrals and proprietary informational advantages. We appreciate the value investors have placed on our demonstrated ability to deliver strong returns and early cash distributions.”
Northleaf Capital Partners has $5 billion in commitments under management through six private equity funds, a specialist private equity secondary fund, and an infrastructure co-investment fund. The firm has 60 investment professionals and maintains offices in Toronto, London, and Menlo Park (www.northleafcapital.com).
“Our deal sourcing efforts will remain focused on transactions that take place outside of the competitive auctions of broad portfolios that are typically pursued by the multi-billion dollar secondary funds and large institutional investors,” said Daniel Dupont, Managing Director of Northleaf’s London, UK office and co-head of the firm’s secondaries program. “We will continue to identify and pursue opportunities that feature cash flow positive businesses and portfolios with the potential for near-term liquidity, and properly incentivized and aligned management teams.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-6-13