Best Equity/Acquisition Opportunities? REPE in Canada

Trying to get a more updated understanding exit ops for the equity/REPE side in Canada after doing a couple of years on the debt side. 

Some of the shops that come to mind include the following: 

  • Brookfield
  • CPP
  • Cadillac (Real estate arm of OTTP)
  • HOOP
  • Oxford (Real estate arm of OMERS)
  • Crestpoint (Real estate arm of CC&L)
  • Quadreal (Real estate arm of BCI)
  • Nicola Wealth
  • AIMCO
  • PSP Investments 
  • Kingsett Capital
  • Harbour Equity
  • Sun Life - BentallGreenOak 
  • Clifton Blake 
  • Forum Equity Partners 
  • Greybrook Realty Partners
  • Fengate
  • Suske Capital
  • Starlight 
  • Canada Life - GWL Realty Advisors
  • Any acquisition role in a publicly traded REIT

I would put developers in their own categories. Feel free to let me know if there's any shops i should remove or consider or even possibly rank these shops. 

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Comments (21)

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Jun 1, 2021 - 5:59pm

What type of role do you want? True REPE where you're seeking outsized returns, or acquisitions for pension funds where you're more worried about consistent long term returns? The strategies at the companies you've listed are drastically different - something like a Brookfield or Kingsett, while also managing a lot of institutional money, will also look at higher risk deals than an Oxford/CF/other pension plan or insurance company. For reference, a true REPE role is typically going to have a higher pay ceiling, but most of the pension funds have super laid back hours (think 50 a week), excellent benefits and better job security and still pay pretty darn well. Then REITs are another ballgame.

I think you've captured most of the major players. You're missing IMCO for major pension funds, Slate and Forgestone are other names that come to mind on the PE side. Tons of big developers you could add to the list who are also acquisitive for value add projects.

All this being said, if you're coming from the debt side I think you'll have a hard time moving to an acquisitions/investments role at a lot of the pension plans - they typically look for experienced hires from banking or prominent PE firms, or post-MBA associates. Same deal for Brookfield and Kingsett.

Feel free to shoot me a PM.

Jun 1, 2021 - 7:12pm

Correct the strategies are completely different but i guess i was aiming for equity investing with the exception of the LifeCos. Would definitely be interested in Pension/LifeCo life if i stayed in Canada. REIT opportunities are definitely hard to come by. I didn't realize IMCO was in RE. Any thoughts on RE AM roles? 

I'm working towards the UBC DULE program so that it'll allow me to qualify under "economist" when i try to apply for American roles but but if not, worst case scenario i stay in Canada and it's still solid. Not sure if I would consider Schulich's master program or an MBA in Canada. Kind of leaning towards trying for MBA in the states 

  • Intern in IB - Gen
Jun 21, 2021 - 9:10am

What is market rate for analyst roles out of UG at the major RE shops in Canada? Thinking Oxford, CF, etc. Any info on hours at these types of shops?

Jun 24, 2021 - 12:37am

PM if you want to raise capital and aggregate Tim Hortons NNN lease deals for the yield premium to comparable US pads and create a portfolio premium. "Timbits Aggregation Fund" with a target allocation of 10-40 locations seems fitting....

  • Intern in IB - Gen
Oct 7, 2021 - 4:49pm

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