All figures in Canadian dollars
Vancouver, BC – September 12, 2024 – CAI Capital Partners (“CAI”) is pleased to announce that it has completed the final closing of CAI Capital Partners VII, L.P. and CAI Capital Partners VII (Sponsor), L.P. (collectively the “Fund” or “CAI Fund VII”) at $153 million. CAI Fund VII held its first close in June 2023 and concluded its fundraise in September 2024.
With strong interest from returning and new investors, the fund surpassed its target of $150 million in capital commitments and its prior fund size of $125 million. Over 90 investors participated, comprising a diverse group of institutional investors, financial institutions, family offices, fund of funds and individuals.
“We are grateful for the tremendous support we received from our existing limited partners as well as from new investors,” said Tracey McVicar, Partner. “Raising capital during this cycle has been challenging, but it is in precisely this type of environment that great funds are built. We are very proud to have exceeded our target under difficult market conditions.”
CAI Fund VII will continue to pursue CAI’s proven strategy of partnering with and growing lower middle market businesses that provide essential services and products.
“It was clear through our fundraising process that CAI’s successful track record investing in businesses that directly or tangentially service critical and essential infrastructure resonated with investors,” said Curtis Johansson, Partner. “We are confident that our approach to value creation will continue to drive strong growth at our portfolio companies and ultimately generate outsized returns for our investors.”
CAI Fund VII has invested in two platform businesses to date: (i) Midwestern Electric, an infrastructure services provider that specializes in the maintenance and installation of traffic signals, streetlights, and intelligent transport systems; and (ii) DWB Consulting Services, a leading multi-disciplinary consulting firm that provides environmental and engineering services to a variety of critical end markets.
Lawson Lundell LLP and Proskauer Rose LLP provided legal counsel to the Fund.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian and US lower middle market. Over three decades, CAI has invested over $1.6 billion of equity capital into companies across North America. For additional information, please visit www.caifunds.com.
For further information please contact:
Ashton Herriott, Partner
[email protected]
604-637-1288
Date: September 12, 2024
