Penfund closes sixth mid-market fund at $1.15 bln hard cap
Penfund wrapped up its sixth mid-market fund, raising $1.15 billion, thanks to a private-debt strategy that resonated with investors. Penfund Capital Fund VI, launched in early 2018, closed in December above its $900 million target, Chairman and Partner John Bradlow and Partner Richard Bradlow told PE Hub Canada. The fund, backed by 40 new and existing limited partners in North America, Europe and Asia, is the largest in the Toronto junior-capital provider’s 40-year history, exceeding by 59 percent the $724 million its predecessor raised in 2016. The close brings assets managed by Penfund to $1.8 billion.
9 January 2019•3 mins read
