TORONTO (January 15, 2021) – Northleaf Capital Partners (Northleaf) is pleased to announce that it has successfully exited its secondary investment in Credit Karma Inc., a leading North American platform for consumer credit and personal finance services. Northleaf invested in Credit Karma, alongside other institutional investors, in March 2019.
This exit is the result of the previously announced sale of Credit Karma to Intuit Inc. (Nasdaq: INTU), a US-based business and financial software company. Credit Karma is a consumer technology platform with more than 110 million members in the U.S., Canada and UK. The combined company creates a new platform that will make it simple for consumers to make better decisions with their money.
“Our investment in Credit Karma is a great example of our single company secondary investment capabilities,” said Matt Shafer, Managing Director at Northleaf. “We sourced this investment through active coverage of the private equity secondaries market and we were able to execute because of our expertise and relationships in the financial technology sector.”
“This realization demonstrates the benefits of our secondary investment strategy,” added Mike Flood, Head of Private Equity at Northleaf. “We focus on mature assets with strong growth potential and the prospect of early cash back to drive attractive returns for our investors.”
Northleaf Capital Partners is a global private markets investment firm with US$15 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 150-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 400 active investments in 40 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.