Canada: Private Funds
Despite America’s difficult economic situation, Canada continues to enjoy a buoyant private funds market, with confidence in venture capital and minimal involvement from the government. Lawyers describe how firms have been reinforcing their capital, funds and securities expertise via lateral hires, junior level expansion and the creation of new practice groups. This year we feature 12 lawyers, a 30 per cent rise on the previous edition, which reflects the increase in the practice area.
Davies Ward Phillips & Vineberg LLP boasts two lawyers in this year’s chapter. In Toronto, Sarbjit Basra is a “leading lawyer” and is experienced in assisting and leading on major capital purchases, sales, corporate reorganisations, financing, fund formation and investments. He counts ONCAP Investment, Birch Hill Equity and Northleaf Capital as clients. In Montreal, Paul Harris is “brilliant”, particularly for REITs, and is recommended by top fund specialists. He has acted for CDP Capital on investments worth $4 billion, Euro-Pro Corporation and Omega Sewmac in the sale of corporate assets and PSP Investments in the formation of investment funds.
At Torys LLP, Peter Ballantyne is the head of the private equity fund formation practice group. He is an experienced private equity and M&A lawyer, with an emphasis on structuring and restructuring funds, buyouts and investments. Alongside him in Toronto is the co-chair of the firm’s India group Patricia Koval, who is highly praised for her work in private funds, ETFs, REITS and M&A transactions for clients such as Hindalco Industries and Blue Ribbon Fund Management.
Co-chair of the private equity group Ian Palm at McCarthy Tétrault LLP is “incredibly knowledgeable”. He has acted for clients in a range of industries, including biotechnology, clean technologies, banking and finance. He works with the “very responsive and very sharp” Sean Sadler, who has extensive experience in assisting on the formation and restructuring of investment funds and products for domestic and foreign clients.
At Osler Hoskin & Harcourt LLP, John Groenewegen is the co-chair of the firm’s private equity practice group, and is an “approachable” lawyer who is “very helpful” on M&A transactions and corporate finance deals. He represents the Canada Pension Plan Investment Board, 3i Group, OPTrust and many more entities on investments and IPO financing matters. He is joined by Ed Vandenberg, a notable funds lawyer in Ottawa.
Founding partner of McCullough O’Connor Irwin LLP, Jonathan McCullough is “very active” in fund formation work and has been acting for a number of domestic clients, such as Tandem, Van Edge and XPV. He is “truly a specialist” in this field.
Kathleen Ward of Stikeman Elliott LLP in Toronto is repeatedly recommended. Her practice focuses on advising on fund offerings, investments and derivatives and regulation of dealers and fund managers.
Former chair of the investment, companies and mutual funds division of the IBA, Lynn McGrade at Borden Ladner Gervais LLP is “always very good”. She acts for Canadian and foreign mutual fund managers and investment advisers on the formation and operation of funds and is “very well regarded”.
At Gowling Lafleur Henderson LLP, Nicholas Dietrich concentrates on venture capital, investment and financing mainly for US and European clients who are looking to increase their corporate presence in Canada. He is “one of the premiere people for this work” in Canada.