CPE News – pcJournal (10/10/2018) – Sagard Holdings ULC has held additional closings for its private credit investment platform, Sagard Credit Partners (SCP), securing over US $545 million in total capital commitments. The Fund has a hard cap of US $600 million and expects to remain open for commitments until the end of 2018.
Park Hill Group acts as placement agent for Sagard.
Launched in December 2017 and led by Toronto based CIO Adam Vigna and Portfolio Manager, Mustafa Humayun, Sagard Credit Partners invests in proprietary credit opportunities in public and private middle market companies across Canada and the US. SCP has made five investments in Canada and the US, most recently leading a US $250 million financing for Just Energy Group.
Operating from Toronto and New York, Sagard Holdings is wholly owned by Montreal based Power Corporation of Canada (TSX: POW).
photo credit: Sagard Holdings
Sagard Holdings Announces US$545 million Subsequent Closings of Sagard Credit Partners
TORONTO, Oct. 10, 2018 /CNW Telbec/ – Sagard Holdings ULC (“Sagard Holdings”) today announced subsequent closings of Sagard Credit Partners (“SCP” or “the Fund”).
SCP provides credit capital directly to public and private middle market companies across Canada and the US and has now raised commitments totaling more than US$545 million, surpassing the Fund’s target size (US$500 million) within nine months of its initial closing date. The Fund has a hard cap of US$600 million and expects to remain open for commitments until the end of 2018.
Since launching in December 2017, SCP has made five investments in Canada and the US, most recently leading a US$250 million financing for Canada’s Just Energy Group.
“We are thrilled by Sagard Credit Partners’ continued success in raising capital from leading institutions in Canada and internationally. This additional capital will support SCP as we execute our strategy of providing flexible, transformative financing to companies with strong fundamentals and leading management teams in the non-sponsor segment,” said Adam Vigna, Managing Partner and Chief Investment Officer of Sagard Holdings and SCP.
Adding to the initial investment in SCP (anchored by Sagard Holdings and the Healthcare of Ontario Pension Plan), these subsequent closes raised additional commitments from LPs including: a large Canadian pension plan (the Civil Service Superannuation Board (CSSB) of Manitoba), a major Canadian investment manager (the Investment Management Corporation of Ontario (IMCO)), a leading Canadian foundation, two large insurers, and significant Canadian family offices and foundations.
“The successful raise of one of the largest funds of its type in Canada validates Sagard Holdings’ strategy of attracting world class teams and building businesses with them,” said Paul Desmarais III, Executive Chairman of Sagard Holdings. “We look forward to delivering on our commitment to investors while bringing creative financing solutions to companies across North America.”
SCP has engaged the services of placement agent Park Hill Group to expand marketing efforts with US and European investors.
About Sagard Holdings
Founded in 2005 as an investment platform of Power Corporation of Canada, Sagard today operates from Toronto, Montreal and New York. Sagard specializes in conducting deep, proprietary analysis and working constructively alongside management teams of small and mid-sized public and private companies in North America. With a flexible mandate, Sagard can invest anywhere in the capital structure, tailoring investments to the needs of companies.
About Sagard Credit Partners
SCP provides direct credit financing to public and private middle market companies across Canada and the U.S. SCP works with companies to craft solutions tailored to their unique financing needs, including term loans, notes, debenture financing, and other bespoke solutions and can provide certainty on terms, structure and execution. SCP has a long-term outlook and seeks to build lasting relationships with its investors as well as the companies in which it deploys capital. SCP is sponsored by Sagard Holdings ULC, an investment platform that invests in equity and debt capital of middle market companies in the US and Canada. For more information on SCP please visit our website http://www.sagardholdings.com/credit-partners/.
SOURCE Sagard Credit Partners
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