Birch Hill Equity Partners has held a final close of its fifth private equity fund with C$1.3 billion of capital commitments. The fund was oversubscribed and surpassed its target of C$1 billion. As with earlier funds, Birch Hill expects to make investments of C$30 million to C$600 million in 10 to 12 mid-market platform companies.
Fund V attracted a group of both new and existing institutions and family offices primarily from Canada, Europe and the United States. The new fund surpasses the firm’s fourth private equity fund, Birch Hill Equity Partners IV, which closed in 2011 with C$1 billion of capital commitments.
“The ongoing support we have received from our investors demonstrates their strong interest to continue to help us build great Canadian companies,” said Birch Hill partner Steve Dent.
According to the firm, the firm’s track record of consistently generating returns by sustained company building was a key factor in raising Fund V. Over the past 20 years, the firm was founded in 1994, Birch Hill’s portfolio companies have an 18% cumulative average rate of earnings growth.
Birch Hill has a team of 25 investment professionals and is headquartered in Toronto (www.birchhillequity.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-26-16
