SeaFort Capital announces creation of SeaFort Fund II
Torys acted as counsel to SeaFort Capital Fund II with a team that includes Michael Akkawi, Geoff Kelsall, Cal Hunter and Nick Germanakos (corporate/funds), Peter Keenan, Craig Maurice and Ari Feder (tax).
On October 4, 2021, SeaFort Capital Inc. ("SeaFort") launched SeaFort Capital Fund II ("SeaFort Capital Fund II"), a growth-focused buyout fund that intends to make majority investments in Canadian lower-mid-market businesses operating in core industrial and business services sectors. The new fund is designed to allow SeaFort to hold investments for a longer period than most established private equity firms, which means that SeaFort can maintain its established patient approach.
With C$110 million of initial committed capital, first closing exceeded target and the fund is on pace to achieve its final target of C$160 million in committed capital.
SeaFort Fund II marks the first time that eligible investors are able to join SeaFort's founding investors, which include members of the Sobey and McCain families. In addition to a C$40 million lead commitment from SeaFort's founding investors, SeaFort Fund II secured commitments from Export Development Canada ("EDC"), the Canadian Imperial Bank of Commerce (“CIBC”), BMO Capital Partners, and several other prominent investors, including successful entrepreneurs and families from across Canada, with Jessiman Family Investments Inc. ("JFI") a significant limited partner investor in SeaFort Fund II.
SeaFort announced that the fund completed its final closing on March 23, 2023, with C$189 million of committed capital, significantly above the target of C$160 million.
Further information can be found on Canada Newswire’s website.
SeaFort is a private equity firm based in Halifax, Nova Scotia. SeaFort partners with talented managers to build value by growing and improving Canadian lower-mid-market businesses.