On April 16, 2024, TorQuest Partners, a private equity firm based in Toronto and established in 2002, recently celebrated a passive, minority investment by RidgeLake Partners. RidgeLake, advised by OA Private Capital and Apogem Capital, specializes in acquiring non-control equity stakes in mid-market private equity firms. This strategic investment will furnish TorQuest with enduring capital to bolster its continuous growth without altering its investment procedure or daily operations.

Brent Belzberg, TorQuest's Founder and Senior Managing Partner, emphasized that this investment forms a vital component of a broader, ongoing succession strategy aimed at sustaining the firm's future growth and success. Eric Berke, Co-Founder and Managing Partner, acknowledged RidgeLake's consistent partnership since 2013, appreciating the stability it brings to TorQuest’s operations and stakeholders while maintaining the engagement of its leadership in the firm’s value creation strategies.

Todd Milligan and Michael Lunt, co-heads of RidgeLake, expressed respect for TorQuest's influential standing within the Canadian business sphere and enthusiasm for supporting its continued growth.

In a related development, TorQuest announced the final closing of its TorQuest Partners Fund VI in December 2023, securing C$2.1 billion, surpassing its C$1.75 billion target. This fund will continue TorQuest’s strategy of driving value through strategic partnerships with management teams.

Colchester Partners was the financial advisor, while Kirkland & Ellis LLP and Torys LLP provided legal counsel to TorQuest. RidgeLake was advised legally by Gibson, Dunn & Crutcher LLP and Osler, Hoskin & Harcourt LLP.