TORONTO, ONTARIO — (Marketwire) — 03/07/12 — Penfund announced today that it has recently closed its fourth fund, Penfund Capital Fund IV, with committed capital of $460 million. This amount is about 80% greater than the $250 million committed to Penfund Capital Fund III and was provided entirely by a group of Canadian institutional investors. Penfund is grateful for the consistent support of these investors and is particularly proud that all investors who have supported Penfund-s predecessor funds have continued their support with Penfund Capital Fund IV.
Penfund Capital Fund IV will operate as a specialty lender and equity investor targeting investments of $15 – $90 million in Canadian and U.S. mid-market corporations. In its capacity as a specialty lender, the Fund will provide unitranche facilities, high yield debt, mezzanine debt, standby lines and other banking products. As an equity investor, the Fund will co-invest with equity sponsors and will make stand-alone minority and control equity investments. The Fund will have an unusual capacity to provide all forms of capital needed by mid-market companies and its broad product range will allow it to provide highly customized financing solutions to its clients.
About Penfund
Penfund is Canada-s oldest independent private equity firm, having been established in 1979. Throughout its history, Penfund has managed capital for leading Canadian institutions, predominantly pension funds, and has invested about $2.5 billion in about 220 Canadian and American companies. Penfund is owned by its partners, all of whom are employed in the business.
Contacts:
Penfund
John Bradlow
(416) 645-3799
Penfund
Richard Bradlow
(416) 645-3794
Penfund
Adam Breslin
(416) 645-3796