Power Sustainable Lios Inc., as manager, announced the initial closing of Lios Fund I LP, an agri-food private equity fund, that will invest in mid-market companies operating across the food value chain in North America, partnering with owners and operators to accelerate growth.
Lios Fund I LP is the latest investment platform of Power Sustainable, a global multi-platform alternative asset manager investing in sustainable strategies.
Lios Fund I LP has closed an initial $210 million of aggregate capital commitments and is expected to close $300 million in total capital commitments in the third quarter of 2022.
McCarthy Tétrault advised Power Sustainable Lios Inc. in connection with the formation of Lios Fund I LP and the negotiation with Lios Fund I LP’s major investors The Canada Life Assurance Company, Farm Credit Canada, Export Development Canada, Fonds de solidarité des travailleurs du Québec (F.T.Q.), BMO Capital Partners and CIBC, as well as other investors.
McCarthy Tétrault assisted Power Sustainable Lios Inc., with a team led by Mathieu Laflamme that included Alexandre Saulnier-Marceau, Jamie Becker, Isabelle Chouinard and Ahmed Kisserli (Private Equity), Sonia Struthers (Securities), Fred Purkey, Randy Schwartz, Christian Meighen, Marie-Soleil Landry, Jesse Waslowski and Julien Leblanc (Tax).
Davies Ward Phillips & Vineberg LLP, Fasken Martineau DuMoulin LLP, Osler, Hoskin & Harcourt LLP served as opposing counsel.
Fasken advised Fonds de solidarité des travailleurs du Québec (F.T.Q.) and Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi in connection with their investment in the Lios Fund I LP with a team led by Anabel Quessy and including Victor Bac and Bianca Arrelle-Petit (Investment Funds), Ryan Rabinovitch and Andrew Haikal (Tax).