Novacap celebrates four decades with largest fundraise ever

Montreal-based private equity firm Novacap announced the closing of its TMT VI fund at $1.86 billion -- the largest amount ever raised by the firm.

Initially the fund had a target of $1 billion, but virtually all of the previous fund’s investors committed to TMT VI, while new investors from the U.S., Europe, Asia and the Middle East piled in as well. The investor base includes sovereign wealth funds, public and corporate pension plans, insurance companies, endowments and foundations, family offices and advisory firms.

The C$6 billion ($4.7 billion) firm . . .

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