Buyout Shop Charlesbank to Buy Stake in Canada’s Overbay Capital

Middle-market buyout shop Charlesbank Capital Partners LLC agreed to buy a stake in Overbay Capital Partners Inc. in a deal that values the Canadian secondaries firm at C$200 million ($147 million), according to people with knowledge of the matter.

Boston-based Charlesbank is making a strategic investment from its funds, according to a statement seen by Bloomberg News. Overbay will remain a significant long-term shareholder “and retain complete control and independence of all investment activities,” the statement said.

“They are helping us grow in our next phase,” Overbay Chief Executive Officer Robert McGrath said of Charlesbank in an interview, adding the ...