Top PE Seats in Canada in 2025?
Referiing to flagship funds (Novacap/Onex), corporate buyout (Brookfield), direct investing (CPPIB/OTPP).
Contenders:
- Onex
Historically best sponsor in Canada, just exited WestJet at a decent return, stock price is up this year signalling good firm-wide performance. However fundraising for its previous fund went horribly and got cancelled while raising a tiny interim fund.
2. Altas
Fast growing, US MF comp in-line with Onex, large cap deal sizes. However latest fund (US $4bn) is still quite small, maybe this will change in the next couple of years.
3. CPPIB
Huge brand name, analysts have exited to US MFs, enormous deal sizes, great exits and b-school placement.However does more co-invest than direct investing.
4. OTPP
Second best pension in Canada, does more direct investing than CPPIB, however exits are lackluster and they are winding down their direct PE strategy.
5. Novacap
Great performance, raising multiple large(ish) funds recently, might overtake Altas by fund size and AUM soon. Not much brand name and mediocre pay however.
Congrats on Novacap!
They just closed a US$1bn non-flagship fund (Digital / AI) and targetting U$2.75bn for their next TMT fund (started fundraising a few months ago).
This novacap propaganda is getting out of control
lol
They just closed a US$1bn non-flagship fund (Digital / AI) and targetting US$2.75bn for their next TMT fund (started fundraising a few months ago).
Bad list. Onex is a zombie firm, CPP is closing their directs team, Brookfield is infra, no mention of torquest imperial or birch hill which are all roughly same league as Novacap
Imperial Capital:
Latest Fund Size US$800MM
AUM: CAD$5.1B
Novacap:
Latest Fund Size: US$1.75B (Flagship) + US$1B (Digital/AI)
AUM: CAD$11B (higher than Altas)
Lol not higher than altas, novacap is 11CAD altas 10 USD, different currency denominations lil bro
AUM doesn't equal rep on the street or returns. Imperial has a better rep and better performance.
Literally just said why Onex wasn't a zombie firm anymore
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