Novacap, one of Canada’s leading private equity firms, announced today the closing of Novacap TMT VI (“TMT VI” or “the Fund”) at US$1.865 billion, including significant commitments from the Novacap partners and employees as well as from Novacap’s Executive Fund. The Fund is the largest ever raised by Novacap.
With strong demand, TMT VI was significantly oversubscribed, exceeding its target of US$1 billion. Virtually all investors in the firm’s TMT V vehicle committed to TMT VI, while adding important new investors from the US, Europe, Asia and the Middle East. The investor base for TMT VI includes sovereign wealth funds, public and corporate pension plans, insurance companies, endowments and foundations, family offices and advisory firms.
“We are extremely gratified for the opportunity to partner with such a prominent group of investors from around the globe,” said Pascal Tremblay, President, CEO and Managing Partner of Novacap. “The successful closing of TMT VI continues the strong momentum in all our verticals: TMT, Industries and Financial Services. The Novacap franchise has never been stronger, and we are grateful for this momentum as we enter our fifth decade. Just as we have done throughout our history, TMT VI will seek to invest in growing, market-leading businesses led by talented entrepreneurs seeking a value-added partner to accelerate growth.”
Read more at: Newswire
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