Start-up infra fund in C$500m raise

Northleaf Infrastructure Co-Investment Partners has amassed C$500m in capital. The fund is the debut infrastructure offering from private equity firm Northleaf Capital.

Canada-centric private equity firm Northleaf Capital Partners is touting its year-old infrastructure investment programme, crediting its start-up infrastructure fund with so far raising C$500 million ($485 million; €390 million).

Its Northleaf Infrastructure Co-Investment Partners vehicle is “currently in advanced due diligence” for “direct equity and equity-like mature and greenfield-contracted” infrastructure, the company noted in a press announcement.

Northleaf “in parallel with its successful fundraising” added former Macquarie Group executive George Zakem to its infrastructure business amid a staff build-out, the company revealed.

Zakem will co-head infrastructure along with fellow Macquarie alum Jamie Storrow, who joined Northleaf in 2010. Zakem spent a decade with Macquarie, most recently heading its Toronto-based public-private partnership (PPP) team.

Joining Zakem is associate Olivier Laganiere, who has also worked for Sydney, Australia-headquartered Macquarie as well as RBC Dominion Securities.

Meanwhile, Northleaf is continuing to raise capital for its direct investment fund, according to the company. 

Originally founded in 1969 as TD Capital Private Equity Investors, Northleaf was established in a spinout from TD Bank Financial Group in 2009. Currently, Northleaf is a 55-person operation and, with C$4 billion under management, the largest independent private equity firm in Canada.

In addition to Canada, Toronto-headquartered Northleaf has an office in London, as well as a California location.