Whitehorse Liquidity Partners expects to deploy more capital this year than any in its five-year history despite the impact of the pandemic.
“2020 will be our busiest year since inception, and we expect to deploy more than $2.5 billion by year end,” partner Michael Gubbels said in a statement.
The Toronto-headquartered preferred equity specialist has added 29 staff this year, bringing its total headcount to 67, the statement noted. These include Ian Gillespie, who joined as a senior principal from British Columbia Investment Management Corporation, and Arthur Shaver, who joined as a vice-president from Citco Canada.
The firm is in market with its Whitehorse Liquidity Partners IV fund, which has a $3 billion target, according to Secondaries Investor data. Investors include Maryland State Retirement and Pension System and Pennsylvania Public School Employees’ Retirement System.
Preferred equity deal volume jumped 71 percent in the first half of the year to $4.1 billion compared with the first six months of last year, according to data from Evercore. The proportion of secondaries buyers offering preferred equity options also rose during the period to 56 percent from 21 percent, Evercore noted.