New fund gives Canadian investors direct access to global private equity markets this spring
BMO Global Asset Management (BMO GAM) has announced its latest initiative in partnership with Carlyle, aimed at widening access to private markets for Canadian accredited investors.
This third collaboration between BMO GAM and Carlyle is set to introduce a single fund that offers a gateway to a globally diversified private equity portfolio, which is expected to launch this spring.
Carlyle, a global investment firm, boasts deep industry expertise and manages assets across three main segments: Global Private Equity, Global Credit, and Global Investment Solutions (AlpInvest). As of December 31, 2023, Carlyle reported having $426bn of assets under management.
Jeffrey Shell, head of alternatives at BMO GAM, shared his excitement about the partnership, stating, “We are excited to work with Carlyle to simplify investing in private equity, which has historically been the highest returning segment of private markets.”
He further explained, “The private equity asset class provides exposure to privately held companies that are drawn from the 80 percent of the economy that is not publicly traded, and traditionally has been available only to large institutional investors.”
Shell emphasized the partnership's focus on designing a product that prioritizes the experience of Canadian accredited investors, including features like monthly subscriptions with relatively low investment minimums and the elimination of capital calls, typically associated with institutional investor-focused funds.
Shane Clifford, head of Carlyle Wealth Strategy, highlighted, “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.”
He added that the solution, provided through Carlyle's AlpInvest platform, will grant accredited investors in Canada direct access to a global portfolio of secondary, co-investment, and primary opportunities, offering diversified exposure to the private markets.
