Norea Capital launches new $300M Fund II

Ted Liu

Norea Capital Inc. has launched a private equity fund, Capital Norea II, L.P. that will focus on mid-sized private companies.

The Fund has an initial capitalization of $300 million through commitments from Groupe Familles d’Affaires Invest L.P., Investissement Québec/Government of Québec, National Bank and other private investors. The Fund will be open to new investors until June 22, 2024.

Led by Luc Ménard, Norea Capital Inc. is a private equity manager formed from the former National Bank Private Investment team which also includes partners Paul Corriveau, François Duchesneau, Pierre-Luc Lapointe, Anne-Marie Piette, and Moses Bendayan.

In conjunction with this launch, Norea Capital announces that it now manages the former National Bank Private Investment team as well as the National Bank SME Growth Fund, L.P., renamed Norea Capital I, L.P., and the Coinvestissement Unimax, L.P. fund.

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News Release

New $300 million fund to support entrepreneurs, Capital Norea II, L.P., begins operations

Capital Norea II, L.P. is the result of a collaboration of Norea Capital Inc., Groupe Familles d’Affaires Invest L.P., the Government of Québec and National Bank.
Norea Capital Inc., the fund manager, is a new private equity manager that includes the former National Bank Private Investment team.
The National Bank SME Growth Fund, L.P., is now being managed by Norea Capital Inc. and has been renamed Capital Norea I, L.P.
The Coinvestissement Unimax L.P. fund is also being managed by Norea Capital Inc.

MONTREAL, Feb. 1, 2024 /CNW/ – Norea Capital Inc. (“Norea Capital”) announces the creation of a new Canadian private equity fund, Capital Norea II, L.P. (“the Fund”) that will focus on mid-sized private companies.

The Fund has an initial capitalization of $300 million through commitments from Groupe Familles d’Affaires Invest L.P., the Government of Québec, National Bank and other private investors. The Fund will be open to new investors until June 22, 2024.

The Fund will enable owners of private mid-sized companies across the country in any industry to obtain funding for their projects related to succession, growth and acquisition, digital transformation, and energy transition.

Companies receiving support from the Fund will benefit from the expertise of a group of investors who are also successful business owners. This is a unique opportunity for these companies to gain access to a business network and industry-specific expertise from large business-owner families and the Norea Capital team.

Headed by Luc Ménard, President and Managing Partner, the Norea Capital team already supports over a dozen companies. The team is made up of highly qualified professionals who together have more than a century of experience in investment and business management.

In conjunction with this launch, Norea Capital announces that it now manages the former National Bank Private Investment team as well as the National Bank SME Growth Fund, L.P., renamed Norea Capital I, L.P., and the Coinvestissement Unimax, L.P. fund.

Quotes:

“We are proud to see Norea Capital up and running with a solid, experienced team that has proven its worth at National Bank. The Capital Norea II Fund is the product of a collaboration that will give investors of various sizes access to the private equity asset class that is often reserved for institutional investors. This is proof that there is an appetite for this asset class that will only benefit from being further democratized,” mentioned Luc Ménard, President and Managing Partner at Norea Capital.

“We are very pleased to join forces with Norea Capital to support local businesses that have ambition, talent and an entrepreneurial vision,” stated Pierre Bourgie, spokesperson for Groupe Familles d’Affaires Invest L.P.

“We’re investing in Norea Capital II to better support SMEs and companies at every stage of their development. We want to be part of their growth while keeping their know-how here in Québec,” stated Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montréal Region.

“The launch of the Capital Norea II Fund is the latest example of innovative solutions available to entrepreneurs that will enable local businesses to raise the capital they need to fund their projects and meet the challenges facing them in the coming years,” commented Éric Bujold, Head of Client Relations at National Bank.

About Norea Capital Inc.

Norea Capital Inc. is a private equity manager formed from the former National Bank Private Investment team. The team has over $550 million in assets under management across three funds: Capital Norea I, L.P., Capital Norea II, L.P. and Coinvestissement Unimax, L.P., Norea Capital Inc. offers seasoned investors a wide range of investment opportunities. The capital raised provides support to growing companies that are looking for long-term strategic partners.

About Investissements Groupe Familles d’Affaires Invest L.P.

Groupe Familles d’Affaires Invest L.P. is a group of business-owning families based in Montreal, active in Québec and elsewhere in Canada and abroad, that is joining Capital Norea II, L.P. as investors to support local companies that want to grow and achieve their full potential. The companies can benefit from their know-how and extensive network.

SOURCE Norea Capital Inc.

For further information: Information: Luc Ménard, President and Managing Partner, Norea Capital, Tel.: 514-992-1311, lmenard@noreacapital.ca