Whitehorse Liquidity Partners closes inaugural fund at US $400M hard cap

Whitehorse Liquidity Partners, a private equity firm focused on making preferred equity investments in private equity portfolios, has held a second and final close for Whitehorse Liquidity Partners Fund I at its US $400 million hard cap, well above its US $300 million target.

Whitehorse’s initial investor base includes a diversified base of leading insurance companies, public and corporate pension plans, family offices, financial institutions and individual investors.

Proskauer Rose served as legal counsel for Whitehorse and the Fund.

Whitehorse Liquidity Partners is focused on making preferred equity investments in private equity portfolios. Whitehorse has identified what it believes is a significant and untapped market opportunity in the utilization of a preferred equity structure to generate liquidity on private equity portfolios and/or finance the acquisition of private equity portfolios. Whitehorse was formed in 2015 and seeks to provide customized and flexible liquidity solutions for private equity investors looking for alternatives to outright sales of assets or traditional debt financings.

Whitehorse seeks to provide customized and flexible liquidity solutions for private equity investors looking for alternatives to outright sales of assets or traditional debt financings. This includes (i) institutional investors seeking liquidity on existing investments, (ii) fund of funds that want to generate early distributions for their limited partners, (iii) secondary buyers interested in financing portfolio acquisitions, and (iv) general partners that want to finance follow-on investments or provide liquidity for investors.

“Whitehorse is extremely grateful for the confidence, conviction and support provided by our initial investors. The Fund achieved oversubscription within two quarters of launching our broad fundraising efforts without the use of a placement agent. We were gratified by the market response to our fundraise, the interest in our product and the quality of our investor base. We are benefiting from a strong pipeline of transactions, excited about the white space opportunity available in the market and look forward to maintaining momentum towards building a high performance organization,” said Yann Robard, Managing Partner of Whitehorse.

Led by Robard, formerly Managing Director and Head of Secondaries and Co-Investments for CPPIB, Whitehorse investment team also includes Partner Michael Gubbels, formerly with direct private equity programs at Teachers’ Private Capital and OMERS Private Equity; Senior Principal Rob Gavin, formerly an Associate at Denham Capital; Associate Julian Mirsky, formerly an Associate Teachers’ Private Capital; and Analyst Tim Lu, formerly Investment Banking Analyst at Paradigm Capital and Private Equity Intern at Klass Capital.

Private Capital Directory:
Whitehorse Liquidity Partners

photo credit: Whitehorse Liquidity Partners

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.