Announcing Parallel49 Equity
Fund V and its investment advisory business have been renamed Parallel49 Equity. The name Parallel49 Equity signifies the firm’s roots and presence on both sides of the 49th Parallel, which connects Canada and the United States. It is a fitting reference to the firm’s long history of successful investing in middle-market companies across North America. Parallel49 Equity also reflects the value proposition the firm has pursued since inception – leveraging the team’s deep transaction experience and relationships throughout North America to help middle-market companies thrive and grow on both sides of the border.
Parallel49 Equity’s predecessor, Tricor Pacific Capital, was founded in Vancouver, Canada in 1996. Shortly after, the Chicago office was opened. This dual presence positioned the firm to become a leading middle-market private equity firm investing in profitable companies throughout North America. Since inception, Tricor Pacific Capital, and now Parallel49 Equity, has managed over C$1.2 billion of total investor capital, and is currently investing its fifth fund with C$400 million in committed capital.
Parallel49 Equity invests in businesses in the specialty manufacturing, business services and value-added distribution sectors, working closely with management to create value. While the team has expanded and the firm’s geographic focus has broadened beyond its beginnings in the Pacific Northwest, Parallel49 Equity’s time-tested and proven strategy remains the same.