CPE News (1/16/2019) – PFM Capital Inc. has held an initial close of Apex III Investment Fund Limited Partnership with committed capital of more than $80 million from high net worth and institutional investors, as well as a significant management commitment.
PFM Capital is planning for final close in the first half of 2019 with a target of $100 million and a hard cap of $125 million.
Like its predecessor funds, Apex III will be focusing on a diversified portfolio of Western Canadian private equity investments.
Apex II Investment Fund LP was launched in 2014 and had a final fund size of $88.2 million, and Apex Investment Fund LP which had a final fund size of $95.3 million and was launched in 2007.
PFM Capital is an employee-owned investment management firm, focused on private equity investment in Saskatchewan and Western Canada. Founded in 1989 as a corporate finance company, PFM has been managing private equity and venture capital funds since 1993.
photo credit: PFM Capital
PFM Capital Announces First Close of APEX III Investment Fund
REGINA, Canada, January 15, 2019 – PFM Capital Inc. (“PFM Capital”) has announced the launch of Apex III Investment Fund Limited Partnership (“Apex III” or the “Fund”), with an initial close of more than $80 million. Apex III is the successor fund in the Apex series of Funds managed by PFM Capital and is focused on a diversified portfolio of Western Canadian private equity investments.
Apex III provides institutional and accredited investors with access to participate in equity, near-equity or subordinated debt investments in mid-market private Western Canadian based companies that offer the potential for substantial capital appreciation or income generation. Focusing on the key industries that drive Western Canada’s economic strength – energy, value-added agriculture, industrials and manufacturing – capital will primarily be deployed for the purposes of expansion, acquisition, or completing a management buyout.
Apex III builds on the success of its predecessor funds. Apex II Investment Fund LP which had a final fund size of $88.2 million, was launched in 2014 and Apex Investment Fund LP which had a final fund size of $95.3 million and was launched in 2007.
Apex III completed its initial close in December 2018, securing more than $80 million from high net worth and institutional investors, as well as a significant management commitment. The Fund’s management team has set a target of $100.0 million and a hard cap of $125.0 million. The Funds’ final close will be completed in the first half of 2019.
“Over 90% of the $80 million currently committed to Apex III Investment Fund has been received from investors that have participated in at least one other PFM-managed fund,” says Randy Beattie, President of PFM Capital Inc. “We consider this level of support to be a strong indicator of investor confidence in PFM’s investment strategy and the Fund’s predominantly Saskatchewan and Western Canadian focus.”
About PFM Capital Inc.
PFM Capital is Saskatchewan’s largest private equity investment firm that has raised more than $860 million in capital across 8 retail or institutional and private wealth funds. Based in Regina, PFM’s niche focus allows investors to benefit from the economic strengths of the Canadian prairie provinces by taking advantage of the firm’s established local contact network and long-term track record of successful multi-sector deal origination. PFM Capital is employee-owned and has been managing private equity funds for over 20 years. For more information, please visit www.pfm.ca or contact the following:
Managing Director Business Development
Director of Business Development