Fulcrum Capital Partners has completed the final closing for its fifth private equity fund.
The new vehicle, named Fulcrum Capital Partners Fund V, receiving C$344 million in commitments, according to a press release. The tally surpassed Fulcrum’s initial target by 25% due to strong interest from returning and new investors.
As with its previous funds, Fulcrum will invest in Canadian middle-market companies, with a focus on industries where the firm has investment experience, including manufacturing, resource services, business services, distribution and logistics, and consumer products.
Fund V will invest between $15 and $35 million in companies where Fulcrum sees opportunities to grow and to increase value on exit through active management and collaboration with founding shareholders and management teams.
Since the initial closing in December, Fulcrum has deployed $70 million of Fund V’s capital across three platform investments and one follow-on acquisition.
“We are pleased with the results of our fundraising program and with these initial investments,” said Neil Johansen, Managing Partner of Fulcrum. “The success of this fundraising reflects investors’ confidence in the opportunity available in the Canadian middle market and the strong track record of the Fulcrum investment team over the past 15 years.
“In addition to the support from Canadian investors, we are proud of the participation of a group of highly regarded international investors,” he added.
Based in Vancouver and Toronto, Fulcrum Capital Partners was formed in 2011 when the firm’s senior management successfully acquired the private equity and mezzanine business of HSBC Bank Canada. Fulcrum manages C$675 million in assets across its funds.