Canadian private equity firm TorQuest announced that it was able to raise USD 535 million for its third fund. The amount gathered for TorQuest Partners Fund III was one of the largest raised in the Canadian private equity market recently. Investors of the fund included pension funds, family offices and banks from Canada and abroad.
TorQuest's newest fund would look for opportunities that have enterprise values of USD 40 million to USD 250 million. It would primarily seek control-stake investments that fall between USD 15 million to more than USD 100 million. While Fund III would be targeting investments in its home base Canada, it would also be looking for investments elsewhere. These investments would be made in sectors like financial services, consumer products, specialty chemicals and industrial services since these are TorQuest's areas of expertise.
TorQuest Founder and Senior Managing Partner told PeHub Canada that their limited partnerships (LPs) prefer their consistent approach in today's market. "LPs don't like a lot of change - especially in the current environment. They instead appreciate a consistent approach from their fund partners. We have been, and continue to be, in exactly the right place in the market, and I believe that accounts for TorQuest's success with our LPs," he added.
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