Fundraisers

Penfund raises $870m

The Toronto-based independent firm will employ a strategy of offering junior capital products to mid-market companies.

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Penfund announced the final closing of Penfund Capital Fund VI at C$1.15 billion ($870 million) exceeding the original fundraising target of C$900 million ($678 million). The mezzanine fund surpasses the size of its predecessor, Penfund Capital Fund V, which held a final close in October 2016 at C$724 million ($546.60 million).

The fund will look to co-invest with equity sponsors and selectively complete stand-alone equity investments across North America.

Park Hill Group LLC was the placement agent for the fund.