BMO First Canadian Capital Partners II
BMO First Canadian Capital Partners (Parallel) II, LP (“FCCP II”) provides investors with access to a diversified, middle market portfolio through a traditional closed-end private equity strategy.
Introducing FCCP II
Private equity provides broad exposure to the economy. Middle market companies drive the Canadian and US economy1 2 with less concentration risk than public markets3. North American private equity market benefits from stable deal flow4 and strong relative performance5.
FCCP II provides investors with access to a diversified, middle market portfolio through a traditional closed-end private equity strategy.
Why invest in FCCP II?
Private equity solution
FCCP II is a closed-end private equity solution that blends primary, secondary, and co-investment opportunities from difficult-to-access managers
Middle market focus
Investment strategy focused on middle market buyout sub-sector, benefitting from lower reliance on leverage, a robust exit environment, narrower competition, and higher historical returns than large-cap buyouts7.
Established track record
Predecessor funds established in Nov’19 and Sep’20 with consistent asset mix and return profile8. FCCP II, like its predecessor, is only available to institutional investors and investment advisors and counsellors within BMO Private Wealth channel.
BMO GAM Private Equity’s value-added approach
FCCP II includes diversified investment types to create a vehicle with lower all-in fees and enhanced return potential.
- Primaries: Investments in underlying private equity partnerships and indirectly in their portfolio companies
- Secondaries: Buying existing fund investments from other investors (LP-led) or committing to a new fund comprised of one or more assets managed by the same GP
- Co-investments: Direct investments into individual private equity-backed companies
Meet the team
Bonnie Li
Bonnie Li is an investment professional with more than four years of experience in investment banking and corporate M&As. She joined BMO GAM in March 2023 as an associate in the Alternative Investments team, where she assists the team in selecting and executing private market investment products designed for accredited and small institution investors. Prior to BMO, she was a corporate development senior analyst at Intact Financial Corporation, where she assisted the acquisition and integration of RSA Insurance Group Plc. Bonnie holds a BBA Honours degree from Simon Fraser University with a joint major in Finance and Economics.
Ben Abadi, MBA, M.S
Ben Abadi has responsibility for co-managing the Impact Investment Fund. The C$350 million Impact Investment Fund is aimed at driving more sustainable outcomes around the world by backing technologies that will help BMO and its clients proactively address sustainability and create positive impact for their stakeholders. Prior to joining BMO, Ben was in deal lead roles at Emerald Technology Ventures and at Energy Innovation Capital, and previously spent a decade as a late-stage private equity investor. Ben’s investment experience spans more than two dozen private companies, 20 boards as a director or observer, 60 closed transactions and $20 billion of completed transaction value. Ben holds an MBA from Harvard Business School and a M.S. and B.A. from Stanford University.
Adam Abitbol, CIM
Adam has been in the finance industry since 2006. He joined the team at BMO Global Asset Management in 2017 and served as a specialist for our SMA platform at BMO Nesbitt Burns. His team was tasked with fund raising for BMO GAM’s first series of Alternatives products. Prior to joining BMO, Adam held a number of sales-related roles at other financial institutions in multiple sectors of the industry. Adam brings with him knowledge of damage and personal lines insurance, options trading strategies, SMAs, mutual funds, seg funds, hedge funds and private equity fundraising. Adam is a Chartered Investment Manager (CIM).
Iain Munro, MBA, B.Sc.
Iain Munro serves as Head of Private Equity, North America at BMO Global Asset Management (“BMO GAM”). Iain has more than 25 years of experience delivering advice and solutions to private equity groups and middle market companies throughout Canada and the U.S. as a principal investor and investment banker. Iain’s disciplined approach to investing has been developed through his experience operating within leading Canadian financial institutions with strong risk management cultures and stringent regulatory and compliance requirements. Iain joined BMO GAM’s Private Equity team in 2018 to expand its platform to North America. Prior to joining BMO, Iain held various senior leadership roles at two Canadian financial institutions, including Managing Director & Head of North American Private Equity Coverage. In this position, Iain led high performing teams based in Chicago, Charlotte and Toronto providing junior capital solutions to Canadian and U.S. private equity groups, primary fund investments and equity co-investments. Iain is active in the community. He is a member of the Canadian Venture Capital and Private Equity Association, a past-member of the Association for Corporate Growth and is a current and past member of the Board of Directors and Advisory Committees of several private companies. Iain earned an MBA from the University of Toronto and a B.Sc. from the University of Western Ontario.
Lillian Ferndriger, CAIA
Lillian joined BMO Global Asset Management having spent the last 15 years in wealth management at various firms in sales, sales management and National Accounts. Her most recent experience was with a Canadian alternatives manager to help educate and foster a passion for alternatives investing. Lillian has deep experience and demonstrated success in the Canadian alternatives space and is a member of the AIMA Canada Executive Committee.
Jeffrey Shell
Jeff joined BMO Global Asset Management in August of 2021 from BMO Capital Markets, where he served as head of Global Financial Institutions, with responsibilities that included serving Asset and Wealth managers. Previous to this, Jeff had a number of leadership roles at BMO including heading Trade Finance, Treasury & Payments Solutions and Asia Corporate Banking, in addition to serving as an advisor in Corporate Strategy. Prior to BMO, Jeff worked as a strategy consultant, as a university researcher and as an entrepreneur. He has authored a number of patents related to advanced technology interface design. He holds a Master’s degree in Computer Science from Queen’s University and an MBA from Cornell University.
For general enquiries
Please contact [email protected]
Footnotes
1 National Center for The Middle Market Year-End 2022 Middle Market Indicator. Mid-market defined as companies with revenues $10M – $1B.↩
2 World Federation of Exchanges Market Statistics – February 2024 (as at December 2023).↩
3 S&P 500 Index constituents, weights and categorization by industry exposures as at April 5, 2024.↩
4 Pitchbook, data as at December 31, 2023.↩
5 Preqin, data as at November 30, 2023. Past performance contained herein is not necessarily indicative of future There can be no assurance that FCCP II will achieve comparable results or that it will be able to implement its investment strategy or achieve its investment objective.↩
6 Target net IRR for FCCP II should not be relied on and does not reflect any actual outcomes, proceeds or performance, which may be materially higher or lower than such target. There can be no assurance that the target will be attained.↩
7 Preqin, data sourced on May 1, 2024. Determined by comparing average Net IRR by vintage year across various buyout strategies.↩
8 BMO First Canadian Capital Partners (Parallel) LP was launched in September 2020. Past performance is not necessarily indicative of future results. There can be no assurance that FCCP II will achieve comparable results or that it will be able to implement its investment strategy or achieve its investment objective.↩