PRINT THIS PAGE BMO becomes anchor investor for private equity fund Halyard Capital Fund II13/10/2005. Source: AltAssets. 
 BMO Financial Group has announced that it will commit up to $150m in capital to the Halyard Capital Fund II, a PE fund focused on investing in middle market companies in the media, communications and business services industries.
Halyard Capital was formed as a wholly owned affiliate of BMO Financial Group in May 2000.
Its first fund, Halyard Capital Fund I, is a $350 million private equity fund with a focus on media, communications and business services sectors - including newspapers, radio broadcasting, TV broadcasting, wireless towers, marketing services, directories and B2B publishing.
BMO Financial Group said it has now committed up to $150m of capital as the anchor investor in Halyard II. As part of the creation of Fund II, Halyard Capital will seek additional institutional limited partners. It is expected that Halyard Capital Fund II will have an initial close within the next six months. At that time, Halyard Capital stated they will operate independently of BMO Financial Group.
"As the principal investor in Halyard II, we will continue to leverage both our capital and our longstanding experience in the media industry and its related sectors," noted Yvan Bourdeau, President and COO of BMO Nesbitt Burns.
"Our partnership with BMO Financial Group has been instrumental in the success of Halyard Capital Fund I," added Robert Nolan, Managing Partner of Halyard Capital. "Continued investment from BMO will play a significant role as Halyard continues to build a private equity portfolio of significant value."
Halyard Capital Fund I will continue to be managed by the principals of Halyard Capital.
Established in 1817 as Bank of Montreal, BMO Financial Group is a diversified North American financial services organisation with total assets of $290bn as at July 31, 2005. BMO Financial Group serves clients through its Canadian retail arm, BMO Bank of Montreal, and through BMO Nesbitt Burns, a Canadian investment firm.
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