Crown Capital Partners recently held the first close of Norrep Credit Opportunities Fund (NCOF) with initial capital commitments of approximately $75m.
In conjunction with the initial closing of this fund, the Calgary and Toronto-based firm signed a strategic partnership with Hesperian Capital Management Ltd., portfolio manager of the Norrep Group of Funds, whereby the latter will, pending regulatory and other approvals, acquire an equity interest in Crown Capital Partners.
NCOF will focus on alternative debt transactions including second-lien debt, mezzanine debt and bridge financing ranging from $5m to $25m, or larger.
It will make investments in Canadian companies in a broad range of industries.
The firm targets to close the fund for mid-year at $150m.
Founded in 2000 and led by Chris Johnson, President and CEO, Crown Capital Partners supports private equity backed and non-sponsored middle market transactions across Canada.