Axium Infrastructure?

Just wanted to see what is the opinion out there about Axium Infrastructure in Canada. I know they have offices in montteal, Toronto, NY and cater more to mid market transactions. They seem to have increased their AUM by 10x over the last decade.

 

What's their reputation like? Any insights on culture/comp?

Region

Comments (16)

 
  • Associate 2 in PE - Other
Oct 2, 2020 - 10:37pm

No one seems to know anything about them. Based on press releases, they've had spectacular growth but seem to stay out of the spotlight. They've been closing pretty large deals lately and briefly saw an opening for a summer analyst. Let me know if you found out anything.

 
  • Prospect in IB - Ind
Oct 3, 2020 - 1:32pm

Yeah I noticed they have increase their AUM by about 10x since their split from Fiera.

 
Oct 3, 2020 - 11:16am

Haven't interacted with them but through word of mouth have come to understand that they're a reputable group that go after deals aggressively. Their scope is limited for the time being as they go after highly contracted / regulated assets (which tend to be limited in North America) but they also do greenfield so there's that. Expect comp would be in-line with (if not above) the Toronto MM funds.  

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  • Prospect in IB - Ind
Oct 3, 2020 - 1:30pm

Thanks for This! Can you expand on the comp, please? I have no clue about what's the avg avg PE MM comp in Toronto.

 
Oct 3, 2020 - 2:01pm

Can't comment about PE but for Infra could range from 170 - 200 all-in for a first-year associate 

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  • Prospect in IB - Ind
Oct 3, 2020 - 2:19pm

Awesome. Thanks a lot!

 
  • Prospect in IB - Ind
Oct 3, 2020 - 2:24pm

By the way. If you had to choose between PSP Infra. PE team and Axium Infra, which one would you go for? I might have to face that decision sometime soon.

 
Most Helpful
Oct 4, 2020 - 12:54pm

It's hard to stack these two shops against each other because they are so different. I'll give you some things to think about which can hopefully help guide your decision.

Industry focus: Like already mentioned, Axium's mandate is pretty heavily focused on North American power - expect to evaluate a ton of renewables deals. I wouldn't say this is a bad thing as there is a ton of deal activity in US renewables right now. Renewables deal activity looks like it's pretty dried up in Canada for the time being due to a mix of political and strategic factors. At PSP your geographic and industry mandate would be much wider and you'd likely get more exposure to a broader set of deals.

Exit Ops: A lot of the guys at the mid-market shops tend to be lifers. If you look at people who are at Axium, they tend to stick around, which could be a good thing if you want to settle into something long term. PSP probably does not have the same emphasis on this and one of their associates recently placed at GIP which sets a good precedent for exits.

Culture: I can't speak to PSP, but I've met a few of the guys at Axium (both in Toronto and MTL) and I got good impressions. The team in Toronto is super lean so you'd probably get a lot of responsibility as a junior. PSP you'd likely be a small cog in a large machine - again this isn't a knock on PSP and given where people are placing / the deals they're doing you will probably get a great experience - really depends on where you see yourself fitting in.

Comp: I dont actually know what either of these shops pay, but assuming PSP pays a discount to Toronto-based pension funds and Axium pays in line with other mid-market infra players in Toronto (Fengate, Instar, Northleaf, DIF, etc.) the delta between the two is probably negligible.

Not sure if this is helpful, but these are some of the things I would be thinking about if I were in your shoes.  

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