(November 3 – 10:00 ET) – Schroders & Associates Canada Inc. is creating a third buy-out fund, aptly named the Schroder Canadian Buy-Out Fund III.
The fund is starting with $110 million in commitments and is expected to reach $200 million. Investors in Fund III include Ontario Teachers’ Pension Plan Board; CDP Capital d’Amérique, a subsidiary of Caisse de dépôt et placement du Québec; NB Capital Partners Inc. and European and U.S. institutions.
Fund III will target established companies, private or public, with a successful track record and growth potential. Typical investments will be in the range of $10 million to $30 million per transaction, but the fund has the capability to complete larger transactions by tapping into the worldwide Schroder Ventures group or inviting coinvestors.
Similar to Fund I and Fund II, which have aggregate capital of $160 million, Fund III has a general industry focus but excludes real estate, oil and gas, and start-ups. Fund I earned strong returns in its sector with successful investments such as Mitel Corporation, Richelieu Hardware and Supremex. Fund II is fully invested and has eight companies remaining in its portfolio.
Schroders is also announcing that Michel Auclair has joined the firm as vice president. Auclair has held senior executive positions with Labatt’s Brewery in Quebec, Culinar Inc. and DMR Group Inc. He was most recently an executive and consultant with companies in the Telesystem group.
-IE Staff