May 16, 2006

Canada’s TorQuest Partners Closes Second Private Equity Fund on $550m

Canadian private equity firm TorQuest Partners has closed its second fund, TorQuest Partners Fund II, on Can$550m.

TorQuest Partners Fund II is the successor to TorQuest Partners Value Fund, a Can$180m fund organised in 2002. TorQuest Fund II will adhere to the firm’s traditional investment strategy. The fund will invest in meaningful positions in companies operating in industries in which TorQuest has demonstrated expertise, including manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. 

The equity investments targeted by TorQuest Fund II will range in size from Can$15–100m principally in acquisitions of Can$40–250m. The primary geographic focus will be on Canada, with a secondary focus on US. 

TorQuest senior managing partner Brent Belzberg said, Our team has significant experience in building businesses and in realising value. Our new fund, with international and US investors as well as Canadian investors, will enable us to further capitalise on opportunities similar to those we undertook in Fund I, such as CNC Global Limited, GCAN Insurance Company, and Granby Steel Tanks.’ 

TorQuest has approximately Can$700m of equity capital under management. 

Copyright 2006, AltAssets