Fund Investments & Asset Management

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Our Fund Investments & Asset Management team has decades of experience advising clients in the investment management industry, including portfolio managers, investment fund managers, investment dealers, wealth management companies and institutional investors. Specifically, we advise on the full spectrum of fund operations throughout the life of a fund, including fund structuring, formation, licensing and regulatory compliance, restructuring, capital raising, and investment.

We have particular expertise in investor side legal due diligence, addressing the legal, regulatory, tax and commercial interests of our diverse Canadian institutional clients making investments globally. Our clients include private and public sector pension plans, benefit plans, sovereign wealth funds, university and indigenous endowment funds, family offices, insurance companies, foundations, corporations, pooled fund managers, and other participants making investments in private funds.

Strong deal flows and regular interaction with leading fund managers and investors keep us at the forefront of industry and market practice.

With members that include securities, corporate, tax, pension and litigation counsel, we offer comprehensive services, including:

Investor tax, regulatory and commercial due diligence in support of pooled fund investments, co-investments, direct investments, consortium/syndicate investments, and secondary transactions in Canada and internationally, across all asset classes.
Subscription and account opening documentation, including AML / KYC compliance.
Structuring and formation of mutual funds, alternative funds, hedge funds, mortgage investment corporations, private debt funds, infrastructure funds and real estate funds.
Tax structuring.
Continuous disclosure obligations and compliance of reporting funds.
Capital raising (both public and private) and reporting.
Registration and compliance of CIRO, MFDA and exempt market dealers, advisers and investment fund managers.
International dealer compliance within Canada.
Securities regulatory exemptive relief.
Fund restructuring.
Strategic fund sponsor advisory, including legal, regulatory, operational and compliance matters relating to investment fund operations, administration and management, sales practices, distribution, sales communications, marketing, fund valuation, fund liquidity, proxy voting and trading.
Regulatory audits, investigations, enforcement and litigation.

Experience

Some of our representative experience includes advising:

Canadian institutional investors from British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, in negotiating over $10 billion in commitments to private investments in the past five years across all asset classes.
Mortgage investment managers in the structuring and formation, and ongoing capital raising and compliance, of mortgage investment corporations.
An Ontario private wealth manager with over $1.5 billion in assets under management in the structuring and formation of its proprietary real estate, private debt and infrastructure fund of funds.
An alternative investment fund manager in the $150 million restructuring of its family of funds.
A consortium of 12 Canadian private sector pension plans in a $1.4 billion investment in a combination of Northleaf’s Private Credit Fund and concurrent secondary market purchase of a 16% interest in Antares Holdings a US middle market lender.
A consortium of Canadian private sector pension plans in a $175 million secondary market purchase of a portfolio of P3 infrastructure contracts.
Institutional and pension fund investors in connection with numerous private equity and alternative investments across various asset classes.
On formation, organization and ongoing operations of retail mutual funds, hedge funds, pooled funds and other investment funds.
Advising dealers, advisers, and investment fund managers with respect to registration and on-going securities regulatory and compliance matters.
Major western Canadian public sector pension plans and government investment entities with respect to investments in various domestic and international private equity funds and investments.
Westshore Income Fund in the formation of its income fund which, at the time, was the largest income fund in Canada at a $890 million offering.
A pension fund in obtaining a revolving credit facility in the sum of $250 million.
Pension funds, life insurance companies and banks as lenders, in financing independent power (run of the river) projects.
A pension fund in a series of acquisitions in the hotel industry.
Institutional investors in a $1.0 billion forestry acquisition.