TorQuest Partners closes third partnership at $535 mln

Toronto-based private equity firm TorQuest Partners has closed its third fund, TorQuest Partners Fund III, raising $535 million in total. Backed by Canadian and international pension funds, banks and family offices, Fund III will target investments ranging from $15 million to over $100 million in mid-market companies based in Canada and the U.S. The firm's senior managing partner Brent Belzberg said the "success of this fundraising is a strong validation of our team and historical track record." Last month, TorQuest sold its portfolio company Associated Brands GP Corp., a manufacturer and supplier of private-label dry blend food and household products, to TreeHouse Foods Inc. (NYSE: THS) of Oakbrook, Ill., for $187 million.

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