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Fund Formation

Fund Formation
Fund Formation

The Blakes Fund Formation group is a multidisciplinary team of legal specialists that can provide strategic and practical advice at each stage of the fund formation process.

Our clients rely on our team for specialized legal expertise, industry-sector insights and extensive experience. Canadian and international fund sponsors and managers regularly retain us to establish funds of all types because we have a comprehensive understanding of the market. Combined with our breadth of work acting for some of Canada’s largest investors when investing in funds both in Canada and internationally, our Fund Formation group is uniquely qualified to advise clients from all jurisdictions.

We understand the unique legal issues and challenges from different perspectives and bring this insight when delivering solutions through each stage of the fund lifecycle — from the design, structuring and formation of a fund to investor interactions, governance and ongoing management of the fund. We advise on the creation and structuring of various types of investment vehicles. These include funds relating to private equity, real estate, venture, infrastructure, emerging market and private debt.

Our multidisciplinary Fund Formation team includes specialists from all related practice areas, including corporate/commercial, capital markets, regulatory, tax and pensions, among others. Our collaborative approach allows us to bring our breadth of experience to our clients to deliver best-in-class service. Whether you're a Canadian investor seeking advice to structure and organize a new fund or a non-resident interested in entering the Canadian market, we have you covered. Our deep understanding of fund issues will be invaluable in assisting you with the formation of a fund and its success going forward.

Recent Experience

Fund Formation

  • BentallGreenOak on its various fund formation activities, including open-end and closed-end real estate funds, related parallel funds and debt funds.

  • Brookfield Public Securities Group LLC on all legal matters (securities, tax and regulatory) in the development and launch of uniquely structured funds that provide exposure to alternative asset classes, including real estate, private credit and infrastructure.

  • Canterbury Capital, LLC on its fund formation activities.

  • Carbon Infrastructure Partners/JOG Capital on the formation and offering of units of energy-focused private equity funds and secondary investment funds, as well as the funds' ongoing activities and investments.

  • Concert Real Estate on converting its closed-end real estate fund into an open-end fund and its ongoing activities for the fund.

  • Desjardins Group on the establishment of Aequitas, a C$50-million private investment fund focused on impact finance to promote gender equality, combat climate change and contribute achieving other sustainable development goals.

  • Desjardins Global Asset Management Inc. on the development of an evergreen investment funds (Global Private Infrastructure Fund) seeking to raise over C$3-billion in the next three to five years, in order to invest in renewable energy, telecommunications, transportation, airports, roads and other similar sectors.

  • Disruption Ventures Limited Partnership on its launch of a women-focused venture fund and its initial raise of C$13-million.

  • The general partners of the HarbourVest Canada Growth Fund, the Teralys Capital Innovation Fund and the Northleaf Venture Catalyst Fund in structuring federal venture capital action plans.

  • Genstar Capital Partners VII, LP on Canadian fund formation matters.

  • MCAP, one of Canada’s largest lenders for residential and commercial properties, on its commercial mortgage fund.

  • Macquarie Group Limited on the marketing of its various private equity and investment funds in Canada and the formation of its Canadian limited partnership feeder funds.

  • Open Text Corporation on the formation of a C$100-million fund, OpenText Enterprise Application Venture Fund, designed to provide capital to emerging Canadian technology companies.

  • Private Debt Partners Inc. on the formation of its Core Debt Fund and Senior Opportunities Debt Fund.

  • Purpose Investments Inc., as manager, on the development and launch of a private fund that provides exposure to the private debt and specialty lending sectors.

  • Staircase Ventures on its venture fund formation, including design, structuring and management, and its ongoing portfolio company investment activities.

  • Storytime Capital on the launch of its inaugural fund, Storytime Capital Partners LP, a venture fund focused on worktech companies, which raised over C$15-million.

  • Venn Growth Partners on fund formation (structuring, fundraising and fund management matters)  and all of their portfolio investments to date.​

Converting LP Investments Into Funds

  • Caisse de dépôt et placement du Québec, Investissement Québec and other participants on their investment in Inovia Capital’s C$450-million backing of domestic technology champions.

  • A cornerstone investor on the formation of Carlyle Credit Opportunities Fund.

  • One of Canada’s largest pension funds on its flagship investment in various Catterton funds, including Catterton’s growth platform, and related co-investments.

  • A cornerstone investor on the formation of Forgestone Mortgage Fund, a Canadian fund.

  • Harvest Portfolio Groups on the formation of a Canadian co-investment vehicle for one of Canada’s largest institutional investors and a Canadian pension fund.

  • Healthcare of Ontario Pension Plan as a cornerstone investor in multiple funds across many sectors including real estate, infrastructure, insurance-linked securities and private equity.

  • iCapital IFM, LLC on the launch of feeder funds to provide Canadian investors access to leading international asset managers and strategies, including private equity and private debt.

  • L Catterton Management Company LLC on the formation of Canadian feeder fund, alternative investment and co-investment vehicles.

  • A Canadian pension fund on creating a bespoke Northleaf-managed investment fund.

  • A cornerstone investor on the formation of Sagard Credit Fund, headed by a former managing director of the Canada Pension Plan Investment Board.

  • A cornerstone investor on the formation of Timbercreek Multi-Residential Limited Partnership Fund.