Kirk Falconer
Siguler Guff's Small Buyout Opportunities Fund IV, closed in December at $1.57 billion-plus, will invest in funds and direct activity on a 50:50 basis.
Following a significant re-weighting of CDPQ's private equity portfolio, direct investing represents more than three-quarters of all activity.
Graham, a 17-year OMERS veteran, will replace Mark Redman, who has decided to leave the Canadian pension fund for personal reasons.
Align kept a rapid investment pace over three years, completing 24 platform and add-on deals, helping to validate its strategy, Managing Partner Steve Dyke said.
David Rogers, who founded CBRE Caledon Capital in 2007, previously led the private equity group of OMERS.
Structured financing and minority investments from four firms, including AlpInvest Partners, helped make EagleTree Capital the largest investor in Fund V.
American Pacific Group, founded by Fraser Preston, formerly an HIG managing director, will mostly acquire lower mid-market companies in software and tech.
The Houston private equity firm set a target of $525m and a hard cap of $600m for Fund IV, with a sidecar pool that is offering $150m.
Some LPs are planning to reduce exposure to oil-and-gas funds due to climate change considerations, however, a bigger fundraising challenge in the near term is limited paybacks on existing investments.
While successions may not be a major impetus for most GP stakes deals, the topic of managing generational change in private equity firms is nonetheless vital to minority investors.