PFM Capital holds second close for Apex III Investment Fund

PFM Capital Inc. has held a second, maybe final, close for Apex III Investment Fund Limited Partnership, bringing the total capital commitments to just over $91 million. Apex III held an initial close with $80 million in December 2018.

Limited Partners (LPs) are predominately private investors from Saskatchewan. Over 100 LPs from Saskatchewan, BC, Alberta and Manitoba committed to the fund.

Apex III is the third fund in the Apex series of Funds. Apex II Investment Fund LP is a 2013-vintage with $88.2 million and Apex Investment Fund LP which had a final fund size of $95.3 million and was launched in 2007.

Apex III will focus on equity, near-equity or subordinated debt investments in mid-market private Western Canadian based companies in industries including energy, value-added agriculture, industrials and manufacturing. Capital will primarily be deployed for the purposes of expansion, acquisition, or completing a management buyout.

PFM Capital Inc. had set a target of $100.0 million with a hard cap of $125.0 million. The firm said it expects to hold a final close in the first half of 2019.

photo credit: PFM Capital

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.