TORONTO, May perhaps 03, 2022 (Globe NEWSWIRE) — Penfund Administration Restricted (“Penfund”), a primary service provider of junior capital to middle current market corporations all through North The us, declared right now that Bonaccord Funds Partners (“Bonaccord”) has obtained a minority curiosity in Penfund. Bonaccord is a private equity firm centered on buying non-regulate equity pursuits in top mid-sector non-public markets sponsors. Conditions of the investment decision were not disclosed.
Bonaccord’s financial investment will allow Penfund to make bigger commitments to its institutional partnerships and will assist new product or service initiatives in North American credit marketplaces. The expenditure will have no effect on working day-to-day management or operations of Penfund and the firm’s expense and final decision-earning procedures will remain unchanged.
“Bonaccord’s investment decision is an crucial milestone in the ongoing growth of Penfund’s small business. After mindful analysis of probable strategic partnership options, we concluded that the Bonaccord team is nicely aligned with our lengthy-expression strategic eyesight and possesses the sources and ability set to assistance us to execute our strategies. We glance ahead to a long and effective partnership,” reported Richard Bradlow, Companion at Penfund.
Ajay Chitkara, Controlling Associate at Bonaccord extra: “We are thrilled to have the chance to variety this partnership with Penfund and to assistance its continued progress. The Penfund group has demonstrated fantastic credit rating expense capabilities by means of a extended keep track of document of solid general performance and remarkably very low losses. We think they have created a sustainable and scalable organization that is positioned for even further success in the debt money marketplaces.”
Colchester Partners served as economical advisor to Penfund, KPMG presented Penfund with tax and structuring information and Kirkland & Ellis LLP and Stikeman Elliott LLP served as legal counsel to Penfund. Fried Frank and Goodmans LLP served as legal counsel to Bonaccord.
Toronto-based mostly Penfund is a top company of junior cash to middle marketplace businesses during North The united states. The company is at the moment investing its most not long ago established fund, Penfund Money Fund VII. Penfund manages money sourced from pension money, insurance coverage organizations, banks, loved ones offices and high-web-worthy of men and women found in Canada, the United States, the Middle East, and Europe. Penfund has invested much more than C$3 billion in over 225 firms due to the fact its institution. Property beneath management are around C$2.5 billion.
For far more information, be sure to stop by www.penfund.com.
Bonaccord focuses on producing strategic minority investments in top mid-sized personal marketplaces sponsors across personal fairness, personal credit rating, real estate and real belongings globally. Bonaccord seeks to guidance prolonged-expression benefit generation for these sponsors by leveraging Bonaccord’s strategic enhancement abilities and broader global community. Bonaccord is a subsidiary of P10, Inc. (“P10”).
P10 is a major multi-asset course personal marketplaces answers service provider in the different asset management business. P10’s mission is to supply its buyers differentiated obtain to a wide established of investment decision remedies that handle their diverse expenditure demands inside personal marketplaces. As of September 30, 2021, P10 has a world trader foundation of above 2,400 buyers across 46 states, 29 international locations and six continents, which incorporates some of the world’s biggest pension cash, endowments, foundations, company pensions and economic institutions. Visit www.p10alts.com.
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