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.

$756M AUM

$387M AUM in directs

$170M+ New directs in the past 12 months

$195M Capital raised and $190M capital deployed in the past 12 months

Dollars are in Canadian. Stats were updated on May 6, 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