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Explore Private Equity Investors in Toronto, Ontario, Canada by Industry
Top Private Equity Firms in Toronto
Toronto, Canada’s undisputed financial capital and a major North American business hub, is home to some of the world’s most powerful and respected private equity (PE) firms. The city’s ecosystem is unique, anchored by global asset management giants, highly influential pension plan investors, and a deep bench of sophisticated mid-market players.
These firms invest across every major industry, from infrastructure and real estate to technology and healthcare, driving growth for companies in Canada and around the globe.
In this article, we’ll explore ten of the top private equity firms in Toronto, highlighting their investment focus, strategic approach, and significant role in the market.
1. Onex Corporation
As one of Canada’s oldest and most prominent private equity firms, Onex Corporation has been a leader in the industry since its founding in 1984. With a global presence and tens of billions in assets under management, Onex targets large-cap buyouts and control-oriented investments across North America and Europe. The firm invests in a diverse range of sectors, including industrials, healthcare, financial services, and consumer products.
Onex is known for its disciplined, value-oriented investment philosophy and its hands-on approach to creating long-term value within its portfolio companies. A landmark transaction was its acquisition and successful management of WestJet Airlines, showcasing its ability to navigate complex industries.
Through its various platforms, including ONCAP for mid-market investments, Onex maintains a multi-faceted strategy to capitalize on diverse market opportunities.
2. Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager with over $900 billion in assets, making it one of the largest investors in the world. While its expertise spans real estate, infrastructure, and renewable power, its private equity arm is a formidable force.
The Brookfield Private Equity Group focuses on acquiring high-quality businesses with barriers to entry and providing operational expertise to drive performance.
The firm leverages its global reach and deep operational heritage to invest in sectors like industrials, business services, and residential services. Brookfield’s strategy often involves complex carve-outs and privatizations of large-scale businesses, where its patient, long-term capital and operational bench strength can make a significant impact.
3. Canada Pension Plan Investment Board (CPPIB)
The Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds of the Canada Pension Plan. As one of the world's largest pension investors, its private equity division is a global powerhouse, investing directly in private companies, co-investing alongside trusted partners, and investing in top-tier PE funds.
CPPIB’s long-term horizon and massive capital base allow it to undertake large, complex transactions across all major sectors and geographies. The organization is a highly sought-after partner for other PE firms and companies looking for a stable, value-add investor. Its direct investing arm, CPPIB Direct, is a major player in buyouts and growth equity globally.
4. Ontario Teachers' Pension Plan (OTPP)
Similar to CPPIB, the Ontario Teachers' Pension Plan (OTPP) is another of Canada’s globally recognized pension plan investors with a sophisticated private equity practice. Based in Toronto, OTPP’s private equity arm, a part of its Private Capital division, has a long history of successful direct investing. They focus on building strong, resilient businesses for the long term.
OTPP partners with management teams to support growth through acquisitions, geographic expansion, and operational improvements. Their diverse portfolio includes investments in technology, healthcare, consumer, and financial services.
A famous historical investment includes its former ownership stake in Maple Leaf Sports & Entertainment, the parent company of Toronto's major sports franchises.
5. Birch Hill Equity Partners
Birch Hill Equity Partners is a leading Canadian mid-market private equity firm. Since 1994, the firm has established a reputation for being the partner of choice for Canadian businesses looking to accelerate their growth. Birch Hill focuses on control-oriented investments in a wide range of industries, from consumer products to business services.
The firm is known for its collaborative and hands-on approach, working closely with management teams to build industry-leading companies.
A notable investment includes their partnership with Sleep Country Canada, which they helped grow into a dominant national retailer and took public. Birch Hill’s strategy is centered on creating value through operational excellence and strategic initiatives.
6. TorQuest Partners
Founded in 2002, TorQuest Partners is another of Canada's most respected mid-market private equity firms. The firm focuses on investing in and building strong, well-established Canadian businesses.
TorQuest has a strong track record of partnering with management teams and founders to create significant value through strategic acquisitions, operational enhancements, and new growth initiatives.
Their portfolio is diverse, with investments in manufacturing, business services, consumer products, and financial services. TorQuest is known for its deep Canadian network and its ability to execute complex transactions, including corporate carve-outs and successions for family-owned businesses.
7. Altas Partners
Altas Partners stands out in the Toronto PE landscape with its differentiated, long-term investment approach. The firm makes only a few significant investments at a time, taking a highly concentrated approach to its portfolio. Altas focuses on acquiring market-leading businesses and holding them for the long term, often well beyond the typical 3-5 year private equity hold period.
This strategy allows Altas to partner deeply with management teams to build enduring, high-quality companies without the pressure of a quick sale. The firm's focus is on fundamental business improvement and sustainable growth, making them an attractive partner for businesses seeking a stable and patient capital provider.
8. Novacap
With a strong presence in Toronto, Novacap is one of Canada’s leading private equity firms, specializing in Technology, Media, and Telecom (TMT) as well as Industrials and Financial Services. Since 1981, Novacap has been a strategic partner for businesses, helping them accelerate growth and become market leaders.
The firm is particularly known as a top-tier tech buyout investor in Canada. Novacap’s TMT funds focus on acquiring and growing profitable, established technology companies through strategic acquisitions and operational expertise. Their hands-on approach helps portfolio companies scale effectively in the competitive tech landscape.
9. Clairvest Group Inc.
Clairvest Group is a Toronto-based private equity firm that has been partnering with entrepreneurs for over 30 years. As a publicly-listed company (TSX: CVG), Clairvest has a unique structure that provides a permanent capital base. The firm makes control and significant minority investments in growing mid-market companies.
Clairvest’s strategy is built on a foundation of partnership, often co-investing alongside owner-operators and management teams. They provide strategic support and patient capital to help businesses achieve their full potential. Their industry focus is diverse, with a strong history in sectors like gaming, waste management, and business services.
10. InstarAGF Asset Management
InstarAGF Asset Management is a specialist private equity firm focused exclusively on investing in North American middle-market infrastructure. Based in Toronto, Instar targets investments in sectors such as energy, utilities, civil infrastructure, and transportation, where it can leverage its deep operational and financial expertise.
The firm partners with experienced management teams to acquire, develop, and operate essential infrastructure assets. In an asset class dominated by mega-funds, Instar’s middle-market focus allows it to identify unique opportunities and create value through hands-on asset management and strategic development.
Let’s Recap
Toronto is home to some of the most influential private equity firms in the world, contributing to the success of countless industries and companies. From global giants and powerful pension plans to expert mid-market players and niche specialists, these firms stand out due to their expertise, strategic investments, and ability to create lasting value.
If you're an entrepreneur or a business owner looking to take your company to the next level, identifying the right PE firm is crucial. Private Equity List makes this process easier by providing a fast and easy-to-use platform to identify relevant private equity firms for your project. Whether you're an established company or a growth-stage business, Private Equity List connects you with the right investors.
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Frequently Asked Questions
What is private equity?
Private equity involves investing capital in companies that are not publicly traded, typically with the goal of improving operational efficiency, accelerating growth, and generating higher returns. Private equity firms may also take public companies private.
How does private equity benefit companies?
Private equity firms offer companies significant capital, deep strategic guidance, and extensive operational expertise. This helps businesses grow, enter new markets, execute strategic acquisitions, and improve overall efficiency.
What types of companies do private equity firms invest in?
Private equity firms invest in a wide range of sectors, including technology, healthcare, consumer goods, manufacturing, and industrials. They typically target established companies with strong market positions, stable cash flows, and significant growth potential.
What is growth equity?
Growth equity is a type of private equity investment where firms invest in mature companies with proven business models that need additional capital to scale. Unlike leveraged buyouts, growth equity investors usually take minority stakes and do not use heavy debt financing.
How do private equity firms create value?
Private equity firms create value by improving a company's operations, expanding it into new markets, acquiring complementary businesses (add-on acquisitions), enhancing management teams, and providing the capital needed to unlock the company's full potential.
How can I find the right private equity firm?
Platforms like Private Equity List help connect businesses with relevant investors. By using the platform, you can easily filter through various firms based on your industry, location, revenue size, and specific needs.