In the latest episode of The Private Equity Podcast, Jeff Wigle, Managing Director and Group Head at Banyan Capital Partners, shares his insights and expertise on transitioning portfolio companies for growth. Jeff emphasizes the importance of long-term value creation, leveraging technology and managing cultural change to avoid common private equity pitfalls and make data-driven decisions.
2024 marked a year of record growth for CC&L Infrastructure across our portfolio, team and client base.
CC&L Infrastructure deployed a record ~$600 million in 2024, all relating to opportunities sourced on a bilateral basis outside of broad auction processes. The new investments span the renewable energy, transportation and social infrastructure segments, and include our first investment in the student housing sector. The additions expanded the size of our infrastructure portfolio to over 100 assets, diversified across sectors and primarily located in North America.
Sharp Hills Wind FarmLocated in southeastern Alberta, one of the largest onshore wind farms in Canada with approximately 300 MW of capacity, representing clean energy generation equivalent to the amount of power used by more than 160,000 Alberta homes. |
Twin City TransportationA premier provider of special education transportation services in Minnesota, this investment is an accretive addition to the broader Landmark Student Transportation platform, adding over 250 routes serviced by approximately 175 vehicles. |
Ontario Wind AssetsTwo southern Ontario-based wind projects, Armow Wind and Grand Renewable Wind, together totaling approximately 330 MW in gross capacity and generating energy equivalent to the annual consumption of nearly 290,000 Ontarians. |
Northside Student HousingFour student housing facilities situated at the University of Texas at Dallas. Facilities were built between 2016 and 2021 and comprise ~1,200 units with the capacity to house >2,500 students. Northside’s long-term land leases with the university have an average of over 50 years remaining. |
CC&L Infrastructure seeks to invest in high-quality, North American middle-market infrastructure assets that deliver essential services and create value for stakeholders, including our clients, partners and the local communities in which our projects are located.
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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 over $7 billion4 in assets under management diversified across a variety of geographies, sectors and asset types, with more than 100 underlying facilities across over 35 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 $139 billion in assets.
For more information on Connor, Clark & Lunn Infrastructure’s strategy, portfolio and investment criteria, contact:
| INVESTMENT ORIGINATION AND EXECUTION | ||
Matt O’Brien President |
Ryan Lapointe Transportation |
David Chatburn Energy |
Eric Reidel Energy |
Andrew Parkes Digital |
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| INVESTOR RELATIONS | |
Kaitlin Blainey Managing Director |
Sonja Weiss Vice President |
1. Represents growth in the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt at December 31, 2024.
2. Performance history for the CC&L Infrastructure Strategy is that of the CC&L Infrastructure Composite, which comprises performance of the Private Client Infrastructure Pooled Fund series, CC&L Institutional Infrastructure Pooled Fund series and CC&L Taxable Institutional Infrastructure Pooled Fund series. The Composite has a creation date of March 2014 and inception date of September 2011.
3. Primarily 20-to-40-year contracts with government or other creditworthy counterparties. Many contracts also include beneficial features including take-or-pay arrangements and inflation linkages.
4. Represents the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt at December 31, 2024.
Unless otherwise stated, all data is at December 31, 2024 and stated in Canadian dollars (CAD). Source: Connor, Clark & Lunn Financial Group Ltd. This material, including any attachments, is provided to you for your informational purposes only and is considered private and confidential. This material is intended for the use of the recipient only and no matter contained herein may be used, disseminated, distributed, reproduced or copied by any means, in whole or in part without express prior written consent of CC&L Infrastructure. Certain information contained herein is based on information obtained from third-party sources that CC&L Infrastructure considers to be reliable. While we consider such information to be reliable, CC&L Infrastructure makes no representation as to, and accepts no responsibility for, the accuracy, fairness or completeness of such information produced by third parties and contained herein. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of capital may occur. All opinions, estimates and projections contained in this material constitute CC&L Infrastructure’s judgment as of the date of this material, are subject to change without notice. This material has been prepared without regard to the particular individual financial circumstances and objectives of persons who receive it and nothing in this material constitutes legal, accounting, tax or individually tailored investment advice. As such, as you consider this material, you should consult with independent professionals in those areas regarding your individual circumstances. This information is not an offer to sell or a solicitation of an offer to buy any securities and is not to be used as a sales communication.
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.
 to Director |
 to Partner |
 to Principal |
|---|---|---|
 to Vice President |
 to Associate |
 to Associate |
 has joined as Senior Analyst |
 has joined as Analyst |
 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.
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.
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.
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.
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.
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.
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!
*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].
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.
Connor, 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]
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.
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:
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.
For further details on how our Affiliates are implementing their responsible investing approach, please visit their websites.