Clairvest targeting C$500 mln for Fund V

Firm: Clairvest Group

Fund: Clairvest Equity Partners V

Target: C$500 million

Hard Cap: C$600

Placement Agent: Atlantic-Pacific Capital

The firm did not respond to a call for comment by sister website peHUB.

Clairvest Equity Partners V has a C$600 million hard cap, according to the source. Atlantic-Pacific Capital is working as placement agent on the fundraising.

Clairvest targets mid-market buyouts in North America, seeking to invest $15 million to $50 million in equity in each portfolio company. The firm closed on $467 million for its fourth fund in 2011, with $342 million from outside investors and $125 million from Clairvest. The firm has overall generated a 2.8x return multiple since inception, the source said.

Last year, Clairvest invested $28.5 million in Winters Bros. Waste Systems, a regional solid waste collection, recycling and disposal company.

Chris Witkowsky is editor of peHUB.