Wellington Financial Demonstrates Investment Position in 2016 with Global Industry Recognition
Last November, UK-based Preqin, a leading source for data and intelligence in the alternative asset industry, named Wellington Financial to its list of the Most Consistent Top Performing Private Debt Fund Managers of 2016. This recognition, which puts Wellington in the top 10 percent of the world’s private debt funds, is well-deserved by the Toronto-based specialty finance firm. According to CVCA InfoBase, the team was ambitiously active in the first three quarters of 2016, providing over $75 million in growth debt funding to Canadian and US-based companies in that time.
“At Wellington, we believe consistency comes in two primary forms: how we approach investments, and in the returns we deliver. Without the former it’s incredibly challenging to deliver the latter, making the Preqin honor truly – for us – about the expertise we’ve cultivated around our investment thesis over more than a decade,” said Mark Usher, a partner with Wellington.
Wellington’s lauded consistency is evidenced by the performance of its portfolio companies, which continually demonstrate success. Over a two-day period in November the firm announced separate acquisitions of two Fund IV portfolio companies (companies that were initially funded within two weeks of each other in March of 2014). LA-based Akana, provider of software solutions to help large enterprises manage their service-oriented architecture and application programming interfaces (API) products across their organizations, was acquired by Rogue Wave Software. Financial terms were not disclosed. Then Operative Media Inc., a NY-based digital media software service company, was acquired by Israel-based SintecMedia. The deal value was estimated at just under US$200 million according to the Wall Street Journal.
“For businesses with a strong growth profile, and great fundamentals it’s imperative that they work with firms like Wellington whose growth capital can accelerate their momentum without the dilution associated with equity financings. For Operative, Wellington was essential on the path to our recent exit,” said Lorne Brown, President, CEO and Founder, Operative Media Inc.
Of the fourteen private debt funds named in Preqin’s 2016 “Top Consistent Performing” list, only five firms were based outside of the United States. With a global mandate, making investments mainly across North America and the UK, Wellington is uniquely positioned to identify and invest in the best companies wherever they may be. Since its inception, Wellington has proven its acumen by providing true growth capital to more than 100 companies through several economic cycles. Wellington most recently closed Fund V, a $900M investment program, in October 2015.
Wellington’s investment team has already been busy putting Fund V to work. The firm recently announced investments in SparkPost, a cloud email delivery system, MetaMarkets, the leader in interactive analytics for programmatic marketing, Unified, an award-winning marketing and analytics technology company, SpringCM, a leading sales contract management solution for Salesforce customers, and Acquisio, a world leader in performance marketing solutions.