ATB Financial Forms PE Unit to Help Businesses in Alberta
Posted on 05/08/2020
With $54.3 billion in assets, ATB Financial (Alberta Treasury Branches) is a financial institution and Crown corporation owned by the Province of Alberta. ATB Financial created the ATB Private Equity, Limited Partnership (LP), a fund with $50 million of committed capital dedicated to providing minority interest equity to Alberta businesses. Since 2016, ATB has been providing growth equity capital to Alberta entrepreneurs through its merchant banking group, ATB Capital, which will be folded into the new fund. To date, ATB has invested $30 million in nine separate transactions across a variety of industries—from food production and health care to manufacturing and energy services. The focus of the fund will remain on minority interest equity investments between $500,000 and $5 million, and partnering with other private equity funds, pension funds, family offices, and high net worth individuals looking to invest in Alberta.