A single private equity fund is expected to be launched this spring
A new private equity fund will be launched by BMO Global Asset Management in partnership with investment firm Carlyle.
The big six bank has announced the collaboration today (March 22) and says access to the global diversified private equity will be via a single fund which is expected to launch this spring.
Jeffrey Shell, head of alternatives at BMO GAM says that the aim is to simplify private equity investing which has historically shown the highest returns in private markets.
“The private equity asset class provides exposure to privately held companies that are drawn from the 80% of the economy that is not publicly traded, and traditionally has been available only to large institutional investors,” he said. “Together with Carlyle, we are focused on product design that puts the experience of Canadian accredited investors front and centre; this includes allowing monthly subscriptions at relatively low investment minimums and eliminating the need for capital calls, which are a standard feature of funds that are created for institutional investors."
Carlyle’s expertise in the market is reflected in its $426 billion AUM across its three business units: Global Private Equity; Global Credit; and Global Investment Solutions (AlpInvest).
"We are delighted to collaborate with BMO GAM in what is a significant milestone for Carlyle's wealth business in Canada, as we continue to broaden our reach in the channel globally," said Shane Clifford, Head of Carlyle Wealth Strategy. The solution, which is through our AlpInvest platform, will offer accredited investors in Canada direct access to a global portfolio of secondary, co-investment, and primary opportunities providing investors with diversified exposure to the private markets."
