IMCO Enters New Partnerships with Three Middle-Market Buyout Funds Totalling CAD$1-Billion
Private Equity team adds Kohlberg & Company; Nordic Capital; and Morgan Stanley Capital Partners as strategic partners in portfolio targeting $6B AUM by 2025
TORONTO—Oct. 28, 2020 – The Investment Management Corporation of Ontario (“IMCO”) has closed three private equity fund commitments totalling CAD$1-billion, as it deploys capital in what it views as a strong vintage year. The three funds are Kohlberg Investors IX (“Kohlberg”) managed by Kohlberg & Company; Nordic Capital X (“Nordic X”) managed by Nordic Capital; and North Haven Capital Partners VII (“North Haven”) managed by Morgan Stanley Capital Partners.
Kohlberg, based in Mount Kisco, New York, aims to make control investments in North American middle-market companies in the business services, consumer, industrial manufacturing, healthcare, and financial services sectors.
Nordic, headquartered in Stockholm, Sweden, aims to make control investments in Northern European middle-market companies in the healthcare, financial services, and technology & payments sectors.
North Haven, managed by New York-based Morgan Stanley Capital Partners, focuses on control investments in North American middle-market companies in the business services, consumer, industrials, healthcare, and education sectors.
“The three firms each have a proven track record, unique sector expertise, and an operational value creation approach, representing the kind of strategic partners we want as we build our Private Equity portfolio,” said Craig Ferguson, Managing Director, Private Equity, IMCO. “As we strive to geographically diversify our portfolio in resilient sectors supported by structural tailwinds, these funds proved to be the right opportunity for us to make a substantial commitment, which we believe will generate sound results for our clients.”
IMCO’s Private Equity portfolio is expected to grow to $6 billion or more by 2025. IMCO differentiates itself through a fundamental approach to underwriting and focuses on the middle-market buyout segment globally. “Our flexibility and speed in deploying capital sets us apart in this market and are capabilities that both partners and clients value,” said Ferguson. “In combination with establishing strategic manager relationships, we are also scaling our direct and co-investing activities in order to drive additional growth in the Private Equity portfolio.”
The Investment Management Corporation of Ontario manages $70.3 billion of assets on behalf of its clients. IMCO’s mandate is to provide broader public sector institutions with investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. IMCO is an independent organization, operating at arm’s length from government and guided by a highly experienced and professional Board of Directors. Follow us on LinkedIn and Twitter @imcoinvest