Overbay Capital Partners announced it has entered into a definitive agreement for a strategic growth investment from funds managed by Charlesbank Capital Partners. Financial terms of the transaction were not disclosed.
The Toronto-based firm said its existing leadership team will remain significant long-term shareholders following the transaction while retaining full control and independence over all investment activities.
The partnership is intended to support Overbay’s continued expansion, including adding investment and investor relations talent, enhancing technology and data infrastructure, and scaling the organization as demand grows in the private equity secondaries market.
Founded in 2016 and headquartered in Toronto, Overbay Capital Partners manages approximately $3 billion in assets under management. The firm specializes in highly diversified LP-led secondaries investments across private equity, growth equity, and venture capital. It has also developed experience in niche sectors including technology, sports, and funds-of-funds, and its funds are backed by a broad base of institutional and private investors.
The companies said the partnership reflects growing demand from institutional and private investors seeking liquidity solutions in private markets and positions Overbay to expand its investment capabilities while maintaining its focus on delivering attractive risk-adjusted returns.
The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approval.
Goodmans served as legal counsel to Overbay Capital Partners. Kirkland & Ellis and Stikeman Elliott advised Charlesbank Capital Partners.
KEY QUOTES:
“We are excited to welcome Charlesbank as partners in Overbay, a milestone that reflects the strength of our team, track record, fundraising momentum, and long-term vision. Charlesbank shares our primary focus of delivering attractive long-term results for our investors, which we have achieved over our first decade through proactive sourcing and measured underwriting in high-quality segments of the secondaries market. We both believe that private equity managers, and secondary funds in particular, must deliver greater value for investors. As a firm and as an industry, we are at a pivotal moment: as more investors enter the asset class, we see an incredible opportunity for secondary funds offering attractive risk-adjusted returns through more investor-friendly structures. Charlesbank’s investment will allow us to deepen our investment team and invest in our technology platform as we scale the organization with a continued focus on delivering attractive returns for our funds’ investors.”
Rob McGrath — Chief Executive Officer of Overbay Capital Partners
“The senior leadership team of Overbay shares our vision for how the compelling market dynamics in private equity secondaries are likely to reshape the industry in the next 10 years. As institutional and private investors increasingly seek liquidity solutions for their alternative asset portfolios, the firms that can deliver consistency and sophistication at scale will define the next chapter of private markets. Overbay has built a platform to meet that demand, and we feel privileged to partner with this talented team on the journey ahead.”
Michael Choe — Managing Partner And Chief Executive Officer of Charlesbank Capital Partners
“Overbay represents an ideal partnership for Charlesbank: a differentiated business in a high-conviction market where we have gotten to know the team over an extended period of time. As the only secondaries firm founded by intermediaries, Overbay has a competitive advantage in sourcing and structuring transactions that benefit asset sellers while simultaneously focusing on generating attractive returns for its investors. We believe this is a scalable model and we look forward to helping Overbay expand its investment team, operations, and employee ownership base.”
Jared Pomerance — Principal at Charlesbank Capital Partners
