Strong investor demand drives above-target closing of Northleaf’s largest secondaries fund to date
TORONTO, CANADA (February 16, 2023) – Northleaf Capital Partners (“Northleaf”), a leading global private markets investment firm, today announced that it held the final closing for its third flagship secondaries fund, Northleaf Secondary Partners III (“NSP III” or the “Fund”), with US$1.3 billion of committed capital. With the support of both new and returning investors, the Fund surpassed its target and is more than 60% larger than its predecessor fund. Over the past two years, investors have committed a total of US$2 billion across Northleaf’s secondaries platform.
Northleaf’s secondaries platform seeks to provide investors with access to a diversified portfolio of private equity investments in LP-led and GP-led secondary transactions alongside leading mid-market sponsors. In addition to NSP III, investors access secondary investments through Northleaf’s global private equity funds and institutional custom mandates.
“We are pleased by the strong support from new and existing investors, who value our consistent focus on mature, high-quality assets with strong growth potential and the opportunity for early liquidity as we seek to drive attractive near- and long-term returns,” said Shane Feeney, Managing Director & Global Head of Secondaries at Northleaf. “Northleaf is well-positioned to proactively identify, source and act on opportunities in the secondaries market today, as certain investors seek liquidity solutions and fund managers aim to retain their strongest assets through continuation vehicles.”
“We believe that the interest we have received in Northleaf’s secondaries platform reflects investors’ confidence in our consistent strategy and 20 years of experience in secondary investing,” added Mike Flood, Managing Director & Head of Private Equity at Northleaf. “Thank you to our investors for their continued support.”
Over the past 20 years, investors have entrusted more than US$12 billion to Northleaf’s global private equity program, which currently serves more than 130 institutional and family office investors across North America and the UK/EMEA. With recent private equity, private credit and infrastructure fundraising activity, Northleaf’s total capital commitments raised to date exceed US$22 billion.
About Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with US$22 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s more than 200-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York and Tokyo. Northleaf sources, evaluates and manages private markets investments, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
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