Canadian private equity deals top $56 billion in first nine months: CVCA

GardaWorld's $14-billion private buyout helped lead to record private equity deals this year. GardaWorld company headquarters is seen Wednesday, December 18, 2013 in Montreal. THE CANADIAN PRESS/Ryan Remiorz

TORONTO — A new report says Canada saw a record-breaking $56.5 billion in private equity deals in the first nine months of the year to rise well above pre-pandemic levels.

The Canadian Venture Capital and Private Equity Association says the total came as the sector recorded 483 transactions.

It says much of the record was driven by four large privatization deals as companies shifted away from what it called volatile public markets.

The largest private equity deals so far this year include management taking Garda World Security Corp. private in a $14-billion deal, an Abu Dhabi sovereign wealth fund buying CI Financial for $12.1 billion and La Caisse acquiring Innergex Renewable Energy Inc. for $10 billion.

While the big deals helped drive up the average, the association says 86 per cent of deals were below $25 million, demonstrating the strength in Canada’s mid-market.

The surge in deals this years is a notable shift from 2022 and 2023 that saw record-low full-year deal totals of $14.7 billion and $10 billion respectively.

This report by The Canadian Press was first published Nov. 12, 2025.

The Canadian Press