Canadian investment funds report $213B fundraising in 2023
- Equity funds, Ontario based funds, City of Toronto based funds, and Ontario investors led 2023 investment fund fundraising
- BlackRock Asset Management Canada led $1 billion+ mega fundraising with 7 funds for $33.8 billion
TORONTO, Feb. 21, 2024 /CNW/ - 2,869 Canadian investment funds completed 3,169 closings and raised $213.05 billion in 2023, according to Canada's first ever comprehensive investment fund fundraising report released today by CPE Analytics.
Of the 2,869 investment funds, 411 funds (14%) raising $500 million or more, raised $174.22 billion in aggregate, accounting for 82% of the total amount of fundraising.
Of the 411 funds, 31 funds (1%) with $1 billion or more fundraising, raised a combined of $73.84 billion, representing 35% of the total amount of fundraising.
Approximately 21% of the number of funds with $1 million or less fundraising, raised $194 million in total.
1,280 equity funds raised $83.55 billion, leading all other types of funds with an average of $65 million per fund or $62 million per closing.
57 money market funds raised $22.58 billion in combined, leading all funds in average fundraising per fund with $396 million or $337 million per closing.
# Funds |
# Closings |
$ Millions |
|
Alternative Strategies Funds |
357 |
478 |
10,519 |
Balanced Funds |
345 |
361 |
23,166 |
Equity Funds |
1,280 |
1,352 |
83,546 |
Fixed Income Funds |
604 |
643 |
65,459 |
Money Market Funds |
57 |
67 |
22,582 |
Real Estate/Mortgage Funds |
37 |
44 |
1,965 |
Other Funds |
189 |
224 |
5,815 |
TOTAL |
2,869 |
3,169 |
213,053 |
1,893 Ontario based funds in aggregate raised $154.99 billion in total fundraising. Quebec based funds ranked in a distant second with $36.35 billion followed by Manitoba, BC and Alberta based funds which raised $8.08 billion, $7.53 billion, and $1.92 billion respectively.
1,658 City of Toronto based funds raised $149.8 billion, leading 453 Montreal based funds which raised $35.66 billion. Funds based in Winnipeg, Vancouver, Regina, Richmond Hill (Ontario), Calgary and Mississauga (Ontario) rounded up the top cities with $1 billion or more in fundraising.
Although a few of the fund managers continued to raise negligible amount of money from US and international investors, most of money came from Canadian investors.
Investors from Ontario invested $129.19 billion which accounted for 61% of the total fundraising. Investors from Quebec, Alberta, and Manitoba invested $44.73 billion, $15.20 billon, and $11.18 billion respectively.
31 funds, which raised $1 billion or more, raised a combined $73.84 billion in 2023. Of the 31 funds, 7 Equity Funds raised $31.28 billion, 11 Fixed Income Funds raised $19.18 billion, 7 Money Market Funds raised $13.69 billion, and 6 Balanced Funds raised $9.69 billion.
Investment fund manager, BlackRock Asset Management Canada Limited, led mega ($1 billion and more) fundraising with 7 funds, raising $33.8 billion in 2023.
SLGI Asset Management Inc. (Sun Life) led with 9 funds for $13.95 billion.
Fund Manager |
# Fund(s) |
$ Millions |
BlackRock Asset Management Canada Limited |
7 |
33,798 |
SLGI Asset Management Inc. (Sun Life) |
9 |
13,947 |
Fiera Capital Corporation |
2 |
4,293 |
CI Investments Inc. |
3 |
3,452 |
Jarislowsky, Fraser Limited |
2 |
3,224 |
Desjardins Global Asset Management Inc. |
1 |
2,624 |
NT Global Advisors, Inc. |
1 |
2,576 |
CIBC Mellon Trust Company |
1 |
2,567 |
TD Asset Management Inc. |
2 |
2,445 |
Canso Fund Management Ltd. |
1 |
1,735 |
I.G. Investment Management, Ltd. |
1 |
1,624 |
RBC Global Asset Management Inc. |
1 |
1,557 |
TOTAL ($1B+ Fundraising) |
31 |
73,841 |
https://www.financings.ca/reports
Data is compiled, verified and corrected, from filings by investment funds with BCSC, OSC, AMF, SEDAR, SEDAR+.
Canadian Financings, a service of CPE Analytics, is Canada's only all financings database covering private (VC, PE, private exempt and non-exempt) and public financings by both Canadian and foreign firms, both debt and equity, IPOs, M&As, fundraisings by both Canadian and foreign, professional VC/PE firms, non-investment fund issuer funds, and investment funds. https://financings.ca
CPE Analytics is a Canadian all financing intelligence provider. We provide comprehensive, verified, and unbiased information and unmatched insights and intelligence on public financings, private financings, initial public offerings (IPOs), M&As, professional investment firm fundraising activities.
CPE Analytics is Canada's only provider of comprehensive investment fund fundraising report and analysis.
CPE Analytics is the data analytics division of CPE Media & Data Company. https://cpeanalytics.ca
Founded by Canada's most experienced private capital and financing research experts, CPE Media & Data Company is Canada's leading all financing news and data provider. https://cpecompany.ca/
SOURCE CPE Media & Data Company
Ted Liu, CPE Media & Data Company, 647-782-8818, [email protected]
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