PFM Capital Announces First Close of APEX III Investment Fund

January 15th, 2019

REGINA, Canada, January 15, 2019 – PFM Capital Inc. (“PFM Capital”) has announced the launch of Apex III Investment Fund Limited Partnership (“Apex III” or the “Fund”), with an initial close of more than $80 million. Apex III is the successor fund in the Apex series of Funds managed by PFM Capital and is focused on a diversified portfolio of Western Canadian private equity investments.

Apex III provides institutional and accredited investors with access to participate in equity, near-equity or subordinated debt investments in mid-market private Western Canadian based companies that offer the potential for substantial capital appreciation or income generation. Focusing on the key industries that drive Western Canada’s economic strength – energy, value-added agriculture, industrials and manufacturing – capital will primarily be deployed for the purposes of expansion, acquisition, or completing a management buyout.

Apex III builds on the success of its predecessor funds. Apex II Investment Fund LP which had a final fund size of $88.2 million, was launched in 2014 and Apex Investment Fund LP which had a final fund size of $95.3 million and was launched in 2007.

Apex III completed its initial close in December 2018, securing more than $80 million from high net worth and institutional investors, as well as a significant management commitment. The Fund’s management team has set a target of $100.0 million and a hard cap of $125.0 million. The Funds’ final close will be completed in the first half of 2019.

“Over 90% of the $80 million currently committed to Apex III Investment Fund has been received from investors that have participated in at least one other PFM-managed fund,” says Randy Beattie, President of PFM Capital Inc. “We consider this level of support to be a strong indicator of investor confidence in PFM’s investment strategy and the Fund’s predominantly Saskatchewan and Western Canadian focus.”

About PFM Capital Inc.

PFM Capital is Saskatchewan’s largest private equity investment firm that has raised more than $860 million in capital across 8 retail or institutional and private wealth funds. Based in Regina, PFM’s niche focus allows investors to benefit from the economic strengths of the Canadian prairie provinces by taking advantage of the firm’s established local contact network and long-term track record of successful multi-sector deal origination. PFM Capital is employee-owned and has been managing private equity funds for over 20 years. For more information, please visit www.pfm.ca or contact the following:

 

Eric Clark                                                                       Rene Benoit

Partner                                                                           Partner

Managing Director Business Development           Director of Business Development

(306) 791-2113                                                             (306) 791-4824

ericclark@pfm.ca                                                        renebenoit@pfm.ca

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, PFM Capital Inc. assumes no obligation to update or revise such information to reflect new events or circumstances.

 

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold within the United States or to ”U.S. persons” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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Through its affiliation with the fund managers PFM Fund Operations, PFM Venture Capital, Prairie Ventures GP, TopSoil Farm Land Management, and TopSoil Farm Land Management (II), and doing business as PFM Capital ("PFM Capital" or "PFM"), PFM is a leading private equity investment firm in Saskatchewan. Founded in 1989 as a corporate finance company, PFM has been managing private equity and venture capital funds since 1993. This website does not represent an offering of securities. The information disclosed is incomplete and can be qualified in its entirety by each fund's most recent offering document or limited partnership agreement, obtainable free of charge by contacting PFM Capital Inc. The securities described herein are only available to eligible investors in Canada in accordance with applicable securities laws.

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