Hiker looking off at the sun over the horizon.

2024 marked another landmark year for Banyan Capital Partners. We continued on our journey of strategic growth, adding new investments and delivering long-term value to our investors.

New to Banyan and recent promotions

Photo of David Beaumont
David Beaumont
to Director
Photo of Marat Altinbaev
Marat Altinbaev
to Partner
Photo of Scott Morrison
Scott Morrison
to Principal
Photo of Igor Verechaka
Igor Verechaka
to Vice President
Photo of Gordon Yee
Gordon Yee
to Associate
Photo of Miranda Li
Miranda Li
to Associate
Photo of Alizeh Haider
Alizeh Haider
has joined as Senior Analyst
Photo of Alex Gelmych
Alex Gelmych
has joined as Analyst
Photo of Kye Johnston
Kye Johnston
has joined as Accountant

These promotions and additions reflect our culture of professional growth and recognizing the contributions of our team members. Our team’s development is integral to our ongoing success and capacity for identifying and nurturing promising investment opportunities and growing our investment portfolio.

Learn more about our team and their roles.

New platform investment

Decorative.

Stagevision

Founded in 1984, Stagevision provides a range of services in professional audiovisual production and management, including the assembly of sets and soft goods products, short-term rental of audiovisual equipment, and simultaneous interpretation services to businesses and related agencies across both Canada and the United States.

We’ve partnered with the Company’s CEO, Scott Tomlinson, who has served in this role since 2021, to execute on the business’s next phase of both organic and M&A-driven growth.

Portfolio spotlight

Decorative.

Oakcreek

In November 2024, Oakcreek was pleased to announce the promotion of Patrick Nolan to President and CEO. Patrick was formerly CFO of the business and will be succeeding Barrie Carpenter who will serve as Chairman of the Board of Directors.

Decorative.

Second Nature Designs

In January 2024, Second Nature was pleased to announce the appointment of Guido Romagnoli to the position of President and CEO. Guido was formerly COO of Hunter Amenities International, a global manufacturer of health and beauty products.

Learn more about our current investment portfolio.

Looking ahead

As we move into 2025, our focus remains on identifying new investments in middle-market businesses across North America while maintaining our commitment to long-term value creation. We will continue to leverage our expertise and network to foster strategic partnerships, ensuring sustainable success for our portfolio companies and investors.

New investments

We continue to actively seek to invest in businesses with EBITDA of at least $5 million.

Do you have an opportunity in mind? Explore our investment criteria or connect with us today.

Decorative image.

We’re honoured to have to be recognized as a 2024 Greenwich Leader in Institutional Investment Management Service Quality. This is our fourth time earning this award in a decade, a testament to our Client Solutions Team embodying our mission statement with “the commitment and desire to provide superior performance and service to our clients.” This would not have been possible without the commitment of the entire firm – investment teams, operations teams and all our support colleagues – we thank you all!

Read more

*From February through September 2024, Coalition Greenwich conducted interviews with 115 of the largest tax-exempt funds in Canada. Senior fund professionals were asked to provide quantitative and qualitative evaluations of their investment managers, assessments of those managers soliciting their business, and detailed information on important market trends. CC&L did not provide Coalition Greenwich with any compensation for this survey. For further information on performance, please contact us at [email protected].

Group of people eating assorted cupcakes at a party.

SK Capital Partners announced the recent acquisition of Spectra Confectionery Limited, continuing their focus on the food ingredients sector. Debt funding for the deal was provided by MidStar Capital.

Read more

Jean-Philippe LemayConnor, Clark & Lunn Financial Group (CC&LFG) is pleased to announce that Jean-Philippe Lemay is joining its leadership team as a Managing Director, effective January 6, 2025.

Jean-Philippe’s responsibilities will include oversight of its global institutional distribution and marketing teams, as well as providing a broad leadership presence for CC&LFG in Quebec.

Prior to joining CC&LFG, Jean-Philippe spent 13 years with Fiera Capital, where he built its Liability Driven Investment Solution business before rising to the position of Chief Executive Officer. Jean-Philippe’s credentials include a BSc in Actuarial Sciences from Université Laval and an MSc in Financial Mathematics from Stanford University. He is also a Fellow of the Society of Actuaries (FSA) and a Fellow of the Canadian Institute of Actuaries (FCIA).

“We are thrilled to welcome Jean-Philippe to our firm,” said Warren Stoddart, CEO of CC&LFG. “He is an accomplished individual with deep experience and proven leadership skills who will be an invaluable addition to our leadership team. An individual of his caliber located in our Montreal office is an important step in the further development of our presence in Quebec in the years ahead.”

“I am honoured to join CC&LFG and look forward to helping shape the firm’s future development,” said Jean-Philippe Lemay. “CC&LFG is undeniably a success story in Canada’s financial services industry, having quietly grown to become one of the country’s largest independent asset management firms. Its affiliated businesses, including Global Alpha Capital Management, Baker Gilmore & Associates and CC&L Private Capital, have established a significant presence among institutional and high-net-worth clients in the province. I look forward to collaborating with the talented team at CC&LFG to build on this success and drive continued growth both locally and globally.”

CC&LFG and its affiliates manage over $135 billion in assets across a range of traditional and alternative investment strategies from offices in Canada, the US, the UK and India.

For more information, please contact:

Stephanie Wei
Senior Manager
Connor, Clark & Lunn Financial Group
416-823-2954
[email protected]

Photo of Lindsay Stiles

Crestpoint is excited to announce the appointment of Lindsay Stiles as Crestpoint’s new co-Chief Operating Officer (co-COO). With over 20 years of experience in the commercial real estate industry, Lindsay brings a wealth of knowledge and expertise in operations, asset management, finance, leasing, and brokerage.

Lindsay has held several senior roles throughout her career, including COO of Slate Office REIT and Managing Director at Colliers International. Reporting directly to our President and CEO, Kevin Leon, and working alongside our current COO, Colin MacKellar, Lindsay will focus on operations and business systems, compliance, human resources, and client service. Lindsay’s addition to our team will help us maintain focus, agility, and effective execution as we continue to grow.

Rendering of building at 1218 Thurlow Street, Vancouver

Crestpoint Real Estate Investments Ltd., one of Canada’s leading commercial real estate equity and debt managers, is pleased to announce the launch and initial funding of the Crestpoint Opportunistic Real Estate Strategy (the “Fund”), its first closed-end product.

The Fund, with a twelve-month capital raising period and an eight-year total term, aims to invest in a range of opportunistic Canadian real estate investments and has a gross annualized return target of 15% to 18%. Returns achieved, will be primarily through capital appreciation delivered through a combination of selective, strategic acquisitions and Crestpoint’s active, hands-on approach to asset management.

Coinciding with the launch and initial closing, Crestpoint is also pleased to announce that the Fund has completed its first investment, 1318 Thurlow Street, a 0.4 acre development site located on the southwest corner of the intersection of Thurlow and Burnaby streets in the popular West End neighbourhood of downtown Vancouver, B.C. When completed, this 32-storey, concrete, purpose-built multi-family rental building, comprised of 300 units including a mix of studio, 1-, 2- and 3-bedroom suites, with a range of indoor and outdoor amenity space, will offer tenants impressive views. With a Walk Score® of 96, the property is strategically located in a transit-oriented community in close proximity to restaurants, shopping, Sunset Beach, the downtown business district, hospitals and universities. Partnering with Anthem Properties Group Ltd., Crestpoint, on behalf of the Fund, has acquired a 77% interest in the property with Anthem Properties owning the remaining 23% interest.

“Since Crestpoint’s inception in 2010, some of our best investments have been in periods characterized by the market volatility and dislocation we see today,” said Kevin Leon, CEO of Crestpoint. “We believe it’s a compelling investment environment. We expect to use multiple strategies to create and capture value, including repositioning undermanaged assets, recapitalizing properties with weak balance sheets and renovating existing buildings to higher standards.”

The Fund, focusing on capital appreciation, is designed for institutional clients seeking access to a higher potential return portfolio than available in core real estate, providing them with additional choice and an opportunity for diversification. This strategy complements Crestpoint’s existing flagship, $5.3 billion open-end Core Plus Real Estate Strategy, which has been one of the top-performing core/core plus funds in Canada since its inception in 2011. In 2022, Crestpoint launched the Crestpoint Real Estate Debt Strategy, an open-ended mortgage fund that has outperformed its benchmark since inception.

Max Rosenfeld, EVP and Head of Asset Management at Crestpoint, added, “This new strategy leverages our management expertise and deep relationships within Canada’s real estate investment community, strengths that have enabled us to successfully complete over $3 billion in value-add and opportunistic investments over the last 13 years.”

Following the success of this initial capital raise, the Fund will hold subsequent closings to allow additional investors to participate, with the next close expected to be in Q4 2024.

Learn more about this exciting new offering in a video with Crestpoint’s CEO, where he highlights the details and opportunities ahead. Watch the video here.

About Crestpoint

Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager dedicated to providing investors with direct access to a diversified portfolio of commercial real estate equity and debt investments. With over $10 billion under management, Crestpoint is an affiliate of the Connor, Clark & Lunn Financial Group, one of Canada’s largest private, independently held multi-boutique asset management firms with offices throughout the country and in the US, the UK and India. CC&L Financial Group and its affiliates collectively manage over C$133 billion in assets across a broad range of traditional and alternative investment products and solutions for institutional, high-net-worth and retail clients. For more information, please visit crestpoint.com.

Contact

Elizabeth Steele
Director, Client Relations
Crestpoint Real Estate Investments Ltd.
(416) 304-8743
[email protected]

Our inaugural Responsible Investment report reflects our commitment to sustainable infrastructure investments and reports on the initiatives we’ve taken across our portfolio.

Report highlights:

  • Long-term investors: Our business is employee-owned and our team invests in our funds directly alongside our clients; we are motivated to prioritize the long-term success of the portfolio by sustainably managing our investments.
  • Sustainable practices: We integrate Responsible Investment considerations at every step of our investment process, from initial assessment to ongoing management.
  • Impactful projects: Our investments provide essential services, with a diverse asset base consisting of critical transportation, social, and renewable energy infrastructure, including over 1.8 GW of operating capacity across a range of clean energy sources.
  • Community engagement: We actively engage and partner with local communities to ensure long-term alignment with our stakeholders.

Spirit Island and Maligne Lake at dusk. Jasper National Park, Alberta, Canada.

Our annual Responsible Investment (RI) Report outlines our Affiliates’ ongoing commitment to sustainable investment practices and efforts to have a positive impact on people and planet through how we manage our own business.

2023 key achievements and initiatives

  • Active owners: Encourage companies to effectively manage material ESG risks and opportunities through our stewardship and engagement efforts.
  • Industry collaboration: Active participation in initiatives like the Canadian Coalition for Good Governance and Climate Engagement Canada that support effective capital markets operations and promote a unified industry voice.
  • Corporate Social Responsibility commitment: Strong commitment to societal impact through CSR policies prioritizing work environment, employee health and wellness and environmental stewardship.
  • Affiliate achievements: Notable successes include Crestpoint’s Zero Carbon certification of Arthur Erickson Place, CC&L Infrastructure’s Energy Transition Strategy and our Affiliates’ continued efforts to enhance their approach to incorporating ESG risks and opportunities in the investment process.


For further details on how our Affiliates are implementing their responsible investing approach, please visit their websites.

Scott shared his proudest professional accomplishment from last year and a goal for the upcoming year in the newest issue of Middle Market Growth Magazine.

Image of multiple wind turbines against the horizon

Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) is pleased to announce that it has completed its previously announced acquisition of an 80% equity interest in the Sharp Hills wind farm (Sharp Hills, or the Project), from EDP Renewables Canada Ltd. (EDPR Canada), a subsidiary of EDP Renewables, a leading global renewable energy producer. With this investment in Sharp Hills, CC&L Infrastructure now owns approximately 1.8 GW of renewable power across Canada, the U.S., and Chile, with overall assets under management of approximately $6 billion.

At approximately 300 MW of capacity, Sharp Hills is one of the largest onshore wind farms in Canada, representing clean energy generation equivalent to the amount of power used by more than 160,000 Alberta homes. The project completed construction and reached full operations in early 2024, and is fully contracted under a 15-year power purchase agreement with a high-quality counterparty.

“This investment in Sharp Hills marks our first wind investment in Canada, further diversifying our infrastructure portfolio across sector and geography,” said Matt O’Brien, President of CC&L Infrastructure. “We are pleased to once again be partnering with EDPR and look forward to owning and operating the Sharp Hills project together over the coming years.”

This transaction is CC&L Infrastructure’s second partnership with EDPR, having previously acquired a 560 MW portfolio of U.S. wind and solar assets in 2020. On a combined basis, CC&L Infrastructure’s partnership with EDPR totals more than 800 MW of operating renewable energy projects across Canada and the U.S.

About Connor, Clark & Lunn Infrastructure

CC&L Infrastructure invests in middle-market infrastructure assets with attractive risk-return characteristics, long lives, and the potential to generate stable cash flows. To date, CC&L Infrastructure has accumulated approximately $6 billion in assets under management diversified across a variety of geographies, sectors, and asset types, with over 90 underlying facilities across over 30 individual investments. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over $127 billion in assets.

Contact
Kaitlin Blainey
Managing Director
Connor, Clark & Lunn Infrastructure
(416) 216-8047
[email protected]