Private Equity

What We Do

Since 2012, the Nicola Private Equity team has provided patient equity capital to a diverse set of high-quality private businesses primarily across North America.

$774M AUM

$460M AUM in directs

$178M New directs in the past 12 months

13 Number of new directs in the past 12 months

Dollars are in Canadian. Stats as of June 30, 2022.

What We Bring

  • Long-Term Partner: Our evergreen fund model means we are a long-term investor with the ability to provide continued capital support to our high-conviction assets.
  • Diversified Approach: We employ a variety of investment strategies across both control and minority transactions, and we have the flexibility to invest across a wide range of industries and security types, including both structured and traditional equity as well as convertible debt.
  • Entrepreneurial and Agile Approach: We strive to meet the pressing timelines of our partners and businesses and have a lean operating model to quickly execute on transactions.

Strategies

Co-Investments

Our team has developed a robust network of strong relationships with top performing and entrepreneurial private equity GPs in North America. We take a flexible approach, partnering with GPs we have confidence in to give companies the time and resources they need to realize on their growth opportunities.

Opportunities We Consider
  • Both primary and secondary late-stage minority equity transactions and control co-investment opportunities.
  • Focus on private equity fund GPs with whom we have prior relationships, but opportunistically participate alongside highly capable, independent sponsors with strong track records.
Target Criteria
  • Investment amount size: $15 – 50M
  • Enterprise Values ranging from $20mn-$7bn
  • High-margin, historically stable cash flows, low leverage, low capex, low cyclicality, and long-term earnings visibility
  • Strong stakeholder (sponsor / management / shareholder) alignment

Separate Accounts

We seek to be long-term capital providers for partners with compelling investment strategies and strong track records, in structures outside of traditional closed-end blind pools. Target criteria is similar to Co-investments, but over multiple investments over several years.

Secondaries

We believe secondaries are an attractive asset class within private equity, and we seek to allocate a significant piece of fund capital towards these opportunities given the many benefits they present for investors. We are primarily focused on GP-led, single asset transactions with strong transaction rationale, a high degree of GP alignment and attractive economics. We also have, and will, continue to opportunistically acquire LP fund and individual portfolio company interests.

Target Criteria
  • Investment amount size: $25M
  • Quality underlying assets with high-margin, historically stable cash flows, low leverage, low cyclicality, and long-term earnings visibility
  • Strong stakeholder (sponsor / management / shareholder) alignment

Funds

We look to invest as a Limited Partner in private equity funds to provide diversified exposure to private equity assets. We seek to build long-term relationships with exceptional fund managers to drive returns and co-investment opportunities.

Target Criteria
  • Investment amount size: $25-50M
  • Established and emerging managers with excellent performance track records
  • Investment thesis supported by strong macro factors
  • An edge in sourcing and diligence, with ability to drive unique, proprietary deal flow
  • Demonstrable value-add to portfolio companies
  • Strong co-investment pipeline with attractive co-investment economics

Our Investments

Growth Equity

Lead Investor

 

Take-Private Carve-Out

Lead Investor

Brampton, ON-based space technology company, provides geointelligence, robotics & space operations, and satellite systems.

Growth Equity

Co-Investor

Florida based US vacation rental management company.

Control Buy-Out

Co-Investor

National US airport food & beverage retailer.

The information presented above/below should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.

Partners