Top Private Equity Firms in Canada

Canada's private equity ecosystem is thriving, backed by robust capital funds, world-class investment professionals, and a strong base of institutional investors. From Toronto and Montreal to Calgary, these firms provide equity investment across diverse sectors like manufacturing, infrastructure, healthcare services, and energy.

With a mix of buyout, growth, and venture capital strategies, these top firms support both small to medium-sized enterprises and multinational players.

In this article, we highlight the top-tier Canadian private equity firms that offer investment opportunities with a long-term focus, strong industry expertise, and global reach.

1. Brookfield Corporation

Headquartered in Toronto, Brookfield Corporation is one of Canada’s largest and most influential asset managers, with approximately US $900 billion in assets under management. The firm specializes in private equity, real estate, infrastructure, and renewable power, serving both Canadian and foreign markets.

Brookfield’s private capital arm is known for its disciplined value-based investing, helping build industry-leading businesses around the world.

The firm’s vast scale allows it to lead direct investments, complex M&A deals, and strategic buyout transactions in sectors that require patient, transformational capital. With a mission to build leading global enterprises, Brookfield exemplifies the gold standard in Canadian private equity.

2. Onex Corporation

Onex Corporation, also based in Toronto, manages approximately CA $50 billion in assets and focuses on buyouts and growth equity. Founded in 1984, the firm has executed dozens of major transactions, including investments in WestJet, JELD-WEN, and other high-quality portfolio companies across North America.

Onex combines deep operational insight with flexible capital management strategies, including both fund and direct investments. As a based private equity leader, the firm serves both institutional and entrepreneurial clients looking to scale and optimize operations.

Their focus on EBITDA growth and long-term value creation has positioned them as a cornerstone of Canada’s financial landscape.

3. CPP Investments (CPPIB)

The Canada Pension Plan Investment Board (CPPIB) is a global powerhouse in private equity and public equities, with over $570 billion in net assets as of 2023. With operational hubs in Ottawa and Toronto, CPPIB makes direct investments across the globe, leveraging its size and scale to access top-tier investment opportunities.

CPPIB participates in buyout, co-investment, and special situations deals, often alongside other leading private equity fund managers. Their focus spans sectors like healthcare, infrastructure, and finance, and their ability to act globally makes them a key player in both Canadian and U.S. markets.

4. Northleaf Capital Partners

Northleaf Capital Partners, headquartered in Toronto, is a global mid-market investor with approximately CA $28 billion in assets under management. The firm offers a mix of private equity, infrastructure, and credit investments, having recently closed a C$2.6 billion infrastructure fund.

Northleaf’s platform is tailored to institutional investors and offers diversified access to mid-market equity investment opportunities. Known for its long-term focus and selective approach, Northleaf targets businesses in manufacturing sectors, services, and sustainable infrastructure, often through direct investments and fund partnerships.

5. Cordiant Capital

Based in Montreal, Cordiant Capital specializes in infrastructure-focused private equity and private debt. With US $3.4 billion in AUM (as of 2022), the firm invests across digital infrastructure, energy, and agribusiness sectors in both emerging and developed markets.

Cordiant's unique approach combines merchant banking and private capital with ESG-conscious investing. Their expertise in essential services positions them as a key player in the evolution of global infrastructure, particularly where institutional capital seeks stable, long-term returns.

6. Birch Hill Equity Partners

Toronto-based Birch Hill Equity Partners manages over CA $5 billion, targeting mid-market private equity investments. The firm has completed over 70 transactions since inception, building a reputation for hands-on partnerships and scalable strategies.

Birch Hill specializes in supporting small to medium-sized businesses in sectors like financial services, healthcare, and B2B services. Their investment professionals work closely with management to improve operations, drive organic growth, and execute strategic M&A plays. The firm is a trusted partner for founders and entrepreneurs aiming to grow sustainably.

7. ARC Financial Corp.

Based in Calgary, ARC Financial Corp is a specialist in energy-focused private equity and leveraged buyouts. The firm focuses primarily on upstream, midstream, and clean energy investments within North America. Though AUM is undisclosed, ARC is one of the most experienced energy investors in Canada.

ARC’s team combines financial expertise with deep industry insight, helping companies grow through capital investment, operational improvement, and M&A execution. With a strong presence in Alberta’s energy corridor, ARC plays a pivotal role in financing Canada’s energy transition.

8. Canadian Business Growth Fund (CBGF)

Canadian Business Growth Fund (CBGF) is a Toronto-based growth equity firm designed to fill the gap for mid-sized Canadian businesses looking for strategic capital. Though their AUM is not publicly available, CBGF is backed by leading banks and financial institutions.

CBGF targets entrepreneurial companies with proven business models and expansion potential, offering capital for growth while allowing founders to retain control. Their flexible, minority-investment model supports businesses through scaling, succession planning, and national expansion.

9. BMO Capital Partners

BMO Capital Partners, the private equity fund arm of Bank of Montreal, provides LBO and growth equity solutions across Canada. While its AUM remains undisclosed, BMO CP is consistently ranked among the top Canadian firms in the private capital and M&A ecosystem.

BMO Capital Partners supports high-quality, cash-flow-positive businesses across various sectors. As part of a large banking institution, the team brings not only capital but also deal structuring, financing, and strategic support—making it an attractive option for companies preparing for expansion or transition.

Let’s Recap

These top private equity firms in Canada demonstrate the strength, diversity, and global relevance of the country's private capital landscape. From billion-dollar global giants like Brookfield and CPPIB to agile mid-market players like Birch Hill and CBGF, the Canadian market offers something for every investor and entrepreneur.

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