Imperial Capital closes seventh mid-market fund at $650 mln hard cap

Imperial Capital Group wrapped up its seventh mid-market fund, raising $650 million. The Toronto private equity firm closed Imperial Capital Acquisition Fund VII in May, exceeding a $500 million target and hitting its hard cap in less than five months of fundraising, Managing Partners Jeff Rosenthal and Justin MacCormack told PE Hub Canada. Fund VII, Imperial’s largest fund to date, secured 30 percent more than Fund VI, which raised $500 million in 2017. It brings assets managed to more than $1.5 billion. The fund was backed by 300-plus new and existing limited partners, consisting of wealthy investors based primarily in Canada as well as eight Canadian institutional investors.

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