Novacap is the first private equity firm in Canada to launch a fund dedicated to financial services.


MONTREAL, Dec. 3, 2019 /CNW Telbec/ – Novacap, one of Canada’s leading private equity firms, announced the introduction of a new sector fund and its first closing. Novacap Financial Services I (the “Fund”) gathered initial commitments of C$260 million, a strong start toward its target of C$500 million. A second group of institutional investors is expected to close in Q1 2020.

Driven by strong demand from new and existing investors, the Fund will be managed by three seasoned executives: Marcel Larochelle, as Managing Partner, as well as Rajiv Bahl and Alain Miquelon as Senior Partners. With a dedicated investment team, they will fully leverage Novacap’s infrastructure and apply Novacap’s proven investment methodology.

Novacap Financial Services I aims to invest in mid-market companies established in North America, with a focus on Canada, with strong growth potential.  Four segments are of particular interest: 1-specialty insurance and distribution, 2-asset and wealth management, 3-alternative lending and 4-financial infrastructure. The Fund will make equity investments in order to support companies with their organic growth initiatives and to drive strategic acquisitions.

The Fund is backed by commitments from corporate and public pension funds, financial institutions, family offices and high net-worth individuals.


For further information: Alexandra Troubetzkoy, Communications and Marketing Director, NOVACAP, T: 450 651-5000 ext.291,

« We are extremely pleased with the strong support received from our investors for this first close. This is very timely, as we are currently pursuing some very attractive investment opportunities for the Fund. »

Marcel LarochelleManaging Partner of Novacap Financial Services

« It is a historical event as we are the first private equity firm in Canada to launch a fund dedicated to financial services businesses. The Financial Services fund addresses a significant need in the Canadian market that we have observed over the past few years. I am very proud of the team that we have assembled, who made this possible. »

Pascal TremblayPresident and CEO of Novacap

Categories: News


The Carlyle Group Closes Second Business Development Company


Raises More Than $1.9 Billion for U.S. Direct Lending Platform

New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the final close of TCG BDC II, Inc., a private Business Development Company (BDC). The BDC, together with related investment vehicles, raised a total of $1.9 billion.   The BDC, part of Carlyle’s U.S. Direct Lending platform, lends to companies that are backed by U.S. middle market private equity firms. Carlyle’s first BDC (TCG BDC, Inc.) is publicly listed and trades on the NASDAQ as CGBD.

Since raising its first BDC in 2013, The Carlyle Group’s Direct Lending team has invested more than $6.9 billion in approximately 250 transactions across 30 industries as of September 30, 2018. Carlyle’s Direct Lending team includes nine Managing Directors who have an average of 19 years of industry experience and are supported by a team of 19 dedicated employees.

The direct lending team is part of The Carlyle Group’s Global Credit segment.  Carlyle’s Global Credit platform, with $37 billion in assets as of September 30, 2018, includes funds in Loans & Structured Credit, Direct Lending, Opportunistic Credit, Energy Credit and Distressed & Special Situations. These businesses have more than 100 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong and London.

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The Carlyle Group
Christa Zipf: +1 (212) 813-4578

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.


Categories: News


Montagu Private Equity announces the completion of the sale of Equatex


Montagu Private Equity (“Montagu”), a leading European private equity firm, today announced the completion of the sale of Equatex to Computershare Limited, a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications.


Equatex  is a deferred compensation service provider, specializing in the design, implementation and administration of deferred equity plans. The business provides equity compensation administration services to over 160 clients, servicing over 1.1 million share plan participants in 168 countries and managing around US$40bn in assets.  Equatex is an expert in managing deferred equity compensation plans for global businesses, with clients across all major industries including financial services, healthcare, industrial, pharmaceuticals, energy and IT.


Equatex was formerly the CEFS International operation of Swiss bank UBS. Montagu acquired the business in 2013.

Categories: News