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Enter Symbol
or Name
USA
CA



Dundee Corp
Symbol DC
Shares Issued 55,541,788
Close 2015-10-06 C$ 8.25
Market Cap C$ 458,219,751
Recent Sedar Documents

Dundee Sarea garners $112.5-million in funds for LP

2015-10-07 12:49 ET - News Release

Mr. Sam Ramadori reports

DUNDEE CORPORATION, RJR LP 2014 INC., AND CDPQ PARTNER FOR INITIAL COMMITMENT OF $112.5 MILLION (CDN) TOWARDS THE CREATION OF DUNDEE SAREA'S 'SPECIAL SITUATIONS' FUND

Dundee Corp.'s Dundee Sarea LP, a global private equity firm that invests in special situations which require a constructive long-term partner to restructure and drive growth, has initial capital commitments in the amount of $112.5-million for this inaugural Dundee Sarea Acquisition 1 LP. The fund expects to raise a total of over $200-million.

The fund will use the capital committed to invest in companies requiring turnaround expertise in North America and Europe, with a focus on manufacturing, distribution, industrial products, agriculture, oil and gas, and forestry-related industries.

The fund, co-chaired by Ned Goodman from Dundee and Richard Renaud from RJR LP 2014 focuses on equity investments in mid-market companies experiencing challenging situations while also providing valuable hands-on turnaround experience to realign strategy and improve performance. It has a team of private equity workout specialists with operational experience, including Sam Ramadori, Barry Downing and Philip Renaud. The fund initially has made an investment in an air filtration business (Redecam Group), which it is in the process of restructuring to profitability.

"Dundee Sarea is pleased to count on one of Canada's most reputable and largest pension funds as a founding investor in its inaugural fund," said David Goodman, president and chief executive officer, Dundee. "The caisse's investment reflects their interest in the significant potential of the challenging opportunities arising in mid-market companies. From our perspective, we take pride in the confidence they are showing in our private equity team and the depth of its turnaround experience and expertise."

Andreas Beroutsos, executive vice-president, private equity and infrastructure at CDPQ, also said, "Through this strategic long-term partnership, CDPQ, alongside two prominent investors, will be positioned to take advantage of distinct business opportunities in a challenging macroeconomic environment and, at the same time, generate returns for our clients."

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