TorQuest Partners final closes TorQuest Partners Fund VI at $2.1B+

Ted Liu

TorQuest Partners has held a final close for TorQuest Partners Fund VI with $2.1 billion of total committed capital from external investors. No disclosure on how much was committed by the General Partner and partners.

TorQuest VI includes main fund TorQuest Partners Fund VI, L.P., and parallel fund, TorQuest Partners Fund (International) VI, L.P.

Investors in Fund VI includes institutional investors from around the globe, including public and private pension plans, endowments, sovereign wealth funds, financial institutions, insurance companies and family offices, with considerable commitments from returning limited partners of TorQuest’s predecessor fund, TorQuest Partners Fund V.

Export Development Canada (EDC), a returning LP, committed over $50 million to Fund VI.

Fund V final closed at $1.375 billion in committed capital in March 2020.

Led by General Partner, Brent S. Belzberg, Toronto based TorQuest Partners is a manager of private equity funds. With more than $3.5 billion of equity capital under management, TorQuest invests in middle market companies and works in close partnership with management to build value.

photo credit: TorQuest

TorQuest Partners Holds Final Closing for Fund VI

TORONTO, Dec. 15, 2023 /CNW/ – TorQuest Partners, a Toronto-based private equity firm founded in 2002, today announced the final closing of TorQuest Partners Fund VI, with $2.1 billion of committed capital from external investors.

Fund VI will continue to apply the firm’s successful middle-market investment and operating strategy of partnering closely with management teams to create value through improved governance, strategic change, operational enhancements, growth capital investment and the successful integration of accretive add-on acquisitions.

“All of us at TorQuest are beyond appreciative of the continued support and confidence our limited partners have shown in us, particularly in this challenging fundraising environment,” said Eric Berke, Managing Partner. “We do not take lightly their trust in us to be responsible stewards of their capital and look forward to continuing to execute on our core mid-market strategy that has afforded us success over the past 20+ years.”

Fund VI was oversubscribed and reached its hard cap for external commitments of $2.1 billion, exclusive of commitments from the general partner and its affiliates. TorQuest had set an initial target for external commitments of $1.75 billion.

“Fund VI will employ the same, highly successful partnership approach to investing that has been in place since the firm’s founding,” said Darin Brock, Partner. “We believe our strong brand and longstanding relationships in the Canadian business community will continue to enable differentiated sourcing and the opportunity for us to partner with leading entrepreneurs, business owners and management teams to create strategically valuable companies and must-have assets.”

Investors in Fund VI are a diverse group of institutional investors from around the globe, including public and private pension plans, endowments, sovereign wealth funds, financial institutions, insurance companies and family offices, with considerable commitments from returning limited partners of TorQuest’s predecessor fund, TorQuest Partners Fund V. Fund VI also welcomed a significant number of new high-net-worth individuals to the firm.

Brent Belzberg, C.M., Senior Managing Partner, added: “I would like to personally thank all of our partners who have taken the lead in our fundraising effort and helped us reach our final closing for Fund VI in a short window since launch. Despite how pleased we are to announce today’s final closing, we also recognize that we are facing many macro headwinds and uncertainties today, all around the globe. We know there will be new challenges ahead, but we are nevertheless confident in the strength of our investment strategy across cycles and the opportunity set ahead of us. Our patience in similar markets has paid off for us repeatedly in the past, where some of our best transactions were undertaken during periods of tremendous uncertainty. We remain confident in the deep team we have built at TorQuest and our ability to deliver attractive returns for our limited partners in any investing environment.”

Torys LLP acted as fund counsel for Fund VI.

About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than $5 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a $1.4 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest Partners, please visit www.torquest.com.

SOURCE TorQuest Partners