September 4, 2025
Willkie advised Novacap on a continuation vehicle transaction to support the further growth of its portfolio company Revau, a leading Canadian managing general agent (MGA).
On September 3, Novacap announced that its Financial Services team successfully closed its first continuation vehicle transaction in Revau, and Novacap’s fourth overall continuation vehicle transaction. The transaction involved the continuation vehicle acquiring an interest in Revau from a Novacap Financial Services fund, along with certain other shareholders.
The continuation vehicle is led by a consortium including funds managed by Northleaf Capital Partners, Export Development Canada (EDC) and Fonds de solidarité FTQ, and includes participation from several key institutional investors such as Manulife Investment Management.
Willkie recently advised Revau on its acquisition of two independent MGAs that marked the insurer’s strategic entry into the U.S. market.
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms.
The Willkie team was led by partner Matthew Block and included partners Russell Leaf, Larissa Marcellino, Jared Fertman, Samir Patel, Jason Pearl, Russell Pinilis and Caitlin Link, and counsel Alex Stone.
