A record number of private equity and venture capital investors are assembled in Halifax this week at the 2007 Annual Conference of the CVCA – Canada’s Venture Capital & Private Equity Association.
Innovacorp is a proud partner of the 2007 CVCA Annual Conference
A record number of private equity and venture capital investors are assembled in Halifax this week at the 2007 Annual Conference of the CVCA – Canada’s Venture Capital & Private Equity Association, reflecting the record levels of investment activity in the sector. The nearly 500 investors from across Canada and around the world will tomorrow hear from Mr. Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co.
This year’s CVCA conference is taking place against a backdrop of continuing strong performance by Canadian private equity funds. The CVCA released data today showing that the benchmark for top quartile performance by Canadian buyout funds has moved up from 16.6 per cent at year end 2005 to an annual rate of 21 per cent at year end 2006. In the first quarter of 2007, buyout funds invested $5.1 billion in Canadian companies, following record investments of $11 billion into Canadian companies last year.
“The dramatic growth in private equity is very quickly constructing a new pillar to our overall capital markets in Canada,” declared Rick Nathan, CVCA president and managing director of Kensington Capital Partners, “alongside our public markets, our banks, and other providers of capital to our economy. Successful private equity investors drive growth in our companies, increase our productivity and competitiveness while building value for investors – investors consisting primarily of pension plans – thereby building value to fund the retirement of virtually all Canadians from coast to coast. This is ‘21st Century Capitalism’, and it is vital to our economy.”
At noon tomorrow, Mr. Kravis will speak to the ‘Current State of the Private Equity Business’. His firm, KKR, has led some of the largest, most successful acquisitions via management buyouts, which included RJR Nabisco, as well as Canadian acquisitions of Shopper’s Drug Mart and Yellow Pages Group. KKR has completed over 150 transactions with a total acquisition price of approximately $270 billion.
The chair of the 2007 Conference is Thomas J. Hayes, president & CEO of GrowthWorks Atlantic Ltd.
About CVCA (WWW.CVCA.CA)
The CVCA - Canada’s Venture Capital & Private Equity Association, was founded in 1974 and is the association that represents Canada’s venture capital and private equity industry. Its over 1,200 members are firms and organizations which manage the majority of Canada’s pools of capital designated to be committed to venture capital and private equity investments. The CVCA fosters professional development, networking, communication, research and education within the venture capital and private equity sector and represents the industry in public policy matters. For the full conference agenda visit WWW.CVCA.CA/NEWS/EVENTS/CVCA_ANNUAL_CONFERENCE_2007.ASPX.
For more information, please contact:
416.362.9000 ext. 242
Halifax, Nova Scotia, May 28, 2007