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Tuesday, Nov 29, 2022
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Canterbury Raising $82M for Equity Fund

Canterbury Consulting Inc., a Newport Beach-based financial consulting group best known for advising family offices and non-profit organizations, is raising $82 million for a new fund to target private equity fund opportunities.

Its fund will invest in a number of strategies including buyout funds that in turn will invest in companies with $10 million to $100 million annual earnings before interest, taxes, depreciation and amortization (EBITDA).

“This is the less efficient side of the market” compared with larger buyouts, Canterbury Director of Research Stuart Blair told the Business Journal.

“It will provide investors with the opportunity to invest in private equity strategies that implement material change versus basic cost-cutting and financial engineering.”

The fund will also invest in growth, distressed debt and secondary funds.

Canterbury has typically given advice to family offices and non profits on where to invest $23 billion in assets. The firm is now branching out to other areas such as this private equity fund where clients can invest as well as get advice.

“The majority of our clients that gave us indications of interests have come through” on their commitments to this fund, Blair said, adding that the fund raise is expected to be completed by the end of June.

It also raised $350 million in a bond fund during the past six months, Blair said.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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