External Investment Managers

All external investment managers engaged by UTAM with more than CAD $1 million invested in aggregate on behalf of UTAM's clients are listed on this page, with the exception of a small number of investment managers that have requested that their names not be disclosed.

For “core” managers (generally managers with larger allocations) we have provided the location of the manager’s main office/headquarters, the date of UTAM’s first investment, and a description of the manager as provided by the manager. All other managers have been listed at the bottom of the page without any additional information.

AS OF MARCH 31, 2017

AJO

Location: United States

Date of First Investment: 2015

AJO — an independent, registered investment adviser founded in 1984 by Ted Aronson — offers benchmark-relative and absolute-return strategies across the market-cap spectrum of U.S., emerging markets, and global equities. AJO believes that above-market returns can be achieved with a combination of classical security analysis, modern quantitative investment techniques, and keen attention to trading.

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AQR

Location: United States

Date of First Investment: 2017

AQR is a global investment management firm built at the intersection of financial theory and practical application. We strive to deliver superior, long-term results for our clients by looking past market noise to identify and isolate what matters most, and by developing ideas that stand up to rigorous testing. Our focus on practical insights and analysis has made us leaders in alternative and traditional strategies since 1998.  The firm is based in Greenwich, Connecticut, with offices in Boston, Chicago, Los Angeles, London, Hong Kong and Sydney.

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Ares Management LLC

Location: United States

Date of First Investment: 2013

Ares is a publicly traded, leading global alternative asset manager with approximately $100 billion of assets under management (“AUM”) and approximately 955 employees. Ares seeks to deliver attractive performance to its investor base across its investment groups and strategies, including credit, private equity and real estate. The firm is headquartered in Los Angeles with offices across the United States, Europe, Asia and Australia.

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Arrowstreet Capital

Location: United States

Date of First Investment: 2012

Arrowstreet Capital, Limited Partnership (“Arrowstreet”) is a discretionary institutional global asset manager registered as an investment adviser with the SEC under the U.S. Investment Advisers Act of 1940, as amended. Headquartered in Boston, Massachusetts, Arrowstreet is a private limited partnership that is wholly-owned by its senior management and non-executive directors.

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Artisan Partners

Location: United States

Date of First Investment: 2012

Artisan Partners is a global investment management firm that provides a broad range of high value-added investment strategies in growing asset classes to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners’ autonomous investment teams oversee a range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates.

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Atalaya Capital Management LP

Location: United States

Date of First Investment: 2013

Atalaya is a privately held, SEC-registered, alternative investment advisory firm. Atalaya focuses on making credit and special situation investments in three principal asset classes: real estate, corporate, and specialty finance. Atalaya manages two primary strategies: the Special Opportunities Funds, and its current income focused Asset Income Funds. Founded in 2006, Atalaya is headquartered in New York City and has in excess of $2 billion in assets under management

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Bayview Asset Management, LLC

Location: United States

Date of First Investment: 2014

Bayview Asset Management is a mortgage investment firm focused on investments in mortgage credit, including whole loans, mortgage-backed securities, mortgage servicing rights, and mortgage-related equities.

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BlackRock

Location: United States

Date of First Investment: 2000

BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients.  At December 31, 2016, BlackRock’s AUM was US$5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.  BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®.  As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.

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Bridgewater Associates

Location: United States

Date of First Investment: 2010

Bridgewater Associates is focused on understanding how the world works. By having the deepest possible understanding of the global economy and financial markets, and translating that understanding into great portfolios and strategic partnerships with institutional clients, we’ve built a distinct track record of success. We’ve done this for more than 40 years by having great people operate in a culture of radical truth and radical transparency. Today, we manage about $160 billion for approximately 350 of the largest and most sophisticated global institutional clients including public and corporate pension funds, university endowments, charitable foundations, supranational agencies, sovereign wealth funds, and central banks.

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Brookfield Asset Management

Location: Canada

Date of First Investment: 2014

Brookfield is a leading global alternative asset manager, focused on investing in long-life, high-quality assets across real estate, infrastructure, and private equity. Brookfield’s investments include one of the largest portfolios of office properties in the world, an industry-leading infrastructure business, and one of the largest pure-play renewable power businesses. These businesses form the backbone of the global economy, supporting the endeavors of individuals, corporations and governments worldwide.

As a global firm, Brookfield employs over 70,000 while working to create strong, profitable businesses. As these businesses grow, Brookfield commits to best-in-class environmental, social and governance practices, mindful of the important role they play in fostering long-term value creation.

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Burgundy Asset Management Ltd.

Location: Canada

Date of First Investment: 2001

Burgundy’s independent, research-driven approach involves the careful study of companies with first-rate economics run by capable and honest management; we invest if they are also offered at a significant discount to our estimate of their true value. By following this disciplined, global, quality-value investment philosophy, we can focus on our primary objective: to protect and build our clients’ wealth.

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Capital Fund Management

Location: Europe

Date of First Investment: 2011

Capital Fund Management (CFM), founded in 1991, is an investment management firm whose strategies are based on a quantitative and systematic approach to financial markets. Their culture blends a unique mixture of the scientific backgrounds of our researchers and IT engineers, supported by an experienced corporate team.

Research and technology are the key enablers of the investment process at CFM, which involves creating strategies derived from the analysis of industrial quantities (hundreds of terabytes per annum) of financial data allowing trading decisions to be executed in a highly systematic and disciplined way. They look for statistically significant patterns from which investment strategies are created, then rigorously tested, before being implemented by algorithms.

CFM manages over $8 bn of AUM across alpha and alternative beta strategies. They are headquartered in Paris with offices in New York, London and Tokyo. The firm’s entities are registered with the US CFTC, US SEC, French AMF, UK FCA and Japanese FSA.

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Cevian Capital Limited

Location: Europe

Date of First Investment: 2012

Cevian is a European focused activist manager, taking a long-term and operational approach to unlock and create value in a concentrated portfolio of companies.

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Citadel

Location: United States

Date of First Investment: 2011

Citadel is a global investment firm built around world-class talent, sound risk management, and innovative leading-edge technology. For a quarter of a century, Citadel’s hedge funds have delivered meaningful and measurable results to top-tier investors around the world, including sovereign wealth funds, public institutions, corporate pensions, endowments and foundations.

With an unparalleled ability to identify and execute on great ideas, Citadel’s team of more than 750 investment professionals, operating from offices including Chicago, New York, San Francisco, London, Hong Kong and Shanghai, deploy capital across all major asset classes, in all major financial markets.

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Conundrum Capital Corporation

Location: Canada

The principals have enjoyed a long tenure of working together in various real estate sectors since 1990. In 2000 they formed Conundrum Capital Corporation and significantly expanded their investor base and assets with current AUM over $1.5 billion of assets in multi-family residential sector.

Today under the firm’s operating entity, Q Residential, which with 220 employees,  manage over 7,400 suites in 45 apartment buildings located in the Greater Toronto Area and National Capital Region.

The Manager’s long term objective is to significantly increase the size and value of its Ontario based multi-family portfolio and where appropriate, access opportunities in other Canadian markets.

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CRG L.P.

Location: United States

Date of First Investment: 2016

CRG is a premier healthcare-focused investment firm with more than $3 billion of assets under management across more than 45 portfolio companies. CRG provides growth capital in the form of long-term debt and equity to support innovative, commercial-stage healthcare companies that address large, unmet medical needs. The firm invests across the healthcare spectrum, including: medical devices, biopharmaceuticals, tools & diagnostics, services and information technology. CRG partners with public and private companies to provide flexible financing solutions and world-class support to achieve exceptional growth objectives with minimal dilution. CRG maintains offices in Boulder, Houston and New York.

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Egerton Capital (UK) LLP

Location: Europe

Date of First Investment: 2017

Egerton was founded in 1994 and is an independent investment management firm based in London. The firm manages approximately $15.6 billion in assets under management (as at 28 February 2017), split across two strategies (equity long/short and equity long-only), and for a diversified client base. Egerton employs a fundamental, bottom-up, research-intensive approach to stock selection. John Armitage is the Chief Investment Officer and Portfolio Manager and heads a 16-person investment team. The investment objective is to achieve attractive risk-adjusted returns over time well in excess of equity market indices by adding significant value through stock selection. The investment universe is liquid, large-cap equities and the portfolio is invested across all major geographies, sectors and industry groups.

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Elm Park Capital Management

Location: United States

Date of First Investment: 2011

Elm Park Capital is a private debt investment firm that lends to lower middle market companies and private equity firms.

Elm Park seeks to be an alternative capital provider for lower middle market companies and private equity firms requiring a creative partner for acquisitions, growth, refinancings, recapitalizations, and other special situations. Elm Park focuses on companies who cannot access capital from traditional financing sources due to size, industry challenges, or capital structure complexity.

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Fiera Capital

Location: Canada

Date of First Investment: 2013

Fiera Capital, one of North America’s leading independent asset management firms, is rapidly acquiring a global presence and reputation. With more than $116 billion (CAD) in assets under management, the firm offers to institutional, private wealth and retail markets full-service, integrated portfolio-management solutions that span a broad array of traditional and alternative asset classes. Clients stand to benefit from Fiera Capital’s depth of expertise, diversified offerings, and performance-driven entrepreneurial culture.

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FPA

Location: United States

Date of First Investment: 2017

FPA is a Los Angeles-based institutional money management firm, employing a disciplined approach to value investing, prudently seeking superior long-term returns while maintaining a focus on capital preservation.

As of March 31, 2017, FPA manages approximately $30 billion across multiple strategies.  Independently owned, FPA has 83 employees with 31 investment professionals.

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Graticule Asset Management Asia

Location: Asia

Date of First Investment: 2014

Graticule Asset Management Asia (“GAMA”) is a global alternative asset manager founded by Adam Levinson. GAMA manages alternative investment strategies that pursue superior risk-adjusted returns surrounding distinctive, Asia–related macroeconomic themes. Headquartered in Singapore, GAMA has office in New York, San Francisco and London.

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Hayfin Capital Management LLP

Location: Europe

Date of First Investment: 2013

Founded in 2009, Hayfin is today, one of Europe’s leading private credit platforms with total AUM of €8.8 billion managed in fund and separately managed account format for leading global institutions. Hayfin comprises a highly experienced team of industry professionals specializing in sourcing, structuring and managing private credit investments. Hayfin has extended loans totaling approximately €10 billion to more than 230 companies in Europe.

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Indus Capital Partners

Location: United States

Date of First Investment: 2013

Indus Capital Partners, LLC (with its affiliates, “Indus”) is an employee-owned international alternative investment management firm, offering long/short and long-only equity strategies investing primarily in the Asia Pacific region including Japan, and in emerging markets. The firm was founded in 2000 and manages approximately US$5.9 billion as of April 1, 2017, for a diverse client base. Indus is registered with the SEC in the U.S., headquartered in New York, and currently has over 90 employees.

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Lansdowne Partners

Location: Europe

Date of First Investment: 2017

Lansdowne Partners (UK) LLP is one of the world’s leading investment management partnerships, managing assets for a diversified client base that includes some of the world’s largest and most sophisticated investors. Our investment philosophy is predicated on generating consistent, absolute risk-adjusted returns, through the use of exceptional investment talent within a leading-edge operational infrastructure. Central to our investment philosophy is a rigorous process of fundamental research. The research process includes meeting with company management, as well as analysis of publicly available information and proprietary and independent research.

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Marshall Wace

Location: Europe

Date of First Investment: 2012

Founded in 1997, Marshall Wace is a leading global alternative investment manager specializing in long/short equity. We combine fundamental investing with systematic and quantitative strategies to deliver returns from a range of investment solutions. We are one of the world’s largest alternative asset managers with offices in London, New York, and Hong Kong.

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Nipun Capital, L.P.

Location: United States

Date of First Investment: 2015

Nipun Capital, LP is a specialty asset management firm focused on Asian and Emerging Market equities. We believe that investment success is based on applying fundamental insights through a systematic approach. Our team brings together combined 100+ years of investment experience spanning multiple market cycles. We partner with prominent institutional investors globally to help them exceed their long-term investment objectives.

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Numeric Investors LLC

Location: United States

Date of First Investment: 2015

  • Founded in 1989, Boston Massachusetts
  • Our primary goal is to maximize total dollars of excess return in clients’ portfolios while taking a prudent level of risk
  • Fundamentally driven quantitative asset manager
  • Offering long-only, active extension, and hedged equity strategies across regions, styles, and  capitalizations
  • Commitment to remain small and focused on performance
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Och-Ziff Capital Management Group

Location: United States

Date of First Investment: 2008

Och-Ziff is one of the largest institutional alternative asset managers in the world, with offices in New York, London, Hong Kong, Mumbai, Beijing, Shanghai and Houston. Och-Ziff provides asset management services to investors globally through its multi-strategy funds, dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds and other alternative investment vehicles.

Och-Ziff seeks to generate consistent, positive, absolute returns across market cycles, with low volatility compared to the broader markets, and with an emphasis on preservation of capital. Och-Ziff’s funds invest across multiple strategies and geographies, consistent with the investment objectives of each fund. The global investment strategies Och-Ziff employs include convertible and derivative arbitrage, corporate credit, long/short equity special situations, merger arbitrage, private investments, real estate and structured credit. As of April 1, 2017, Och-Ziff had approximately $31.9 billion in assets under management.

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Origami Capital Partners

Location: United States

Date of First Investment: 2016

Origami Capital Partners, LLC – Founded in 2008, Origami is focused on acquiring private assets trapped in complex structures, providing patient, flexible solutions to owners who are seeking liquidity.  We invest globally, but focus primarily on assets in North America and Europe.  Origami is a registered investment adviser, and has invested over $700 million since inception.

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PAG

Location: Asia

Date of First Investment: 2012

PAG is one of Asia’s largest alternative investment firms, with more than US$16 billion in assets under management across a diverse array of funds in private equity, real estate, absolute return and private debt strategies.

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Picton Mahoney

Location: Canada

Date of First Investment: 2012

Picton Mahoney Asset Management is a 100% employee owned portfolio management boutique founded in 2004 by David Picton and Michael Mahoney, both early pioneers in the Canadian quantitative space. The underlying investment process blends the strengths of independent quantitative and fundamental platforms. The firm manages assets for institutional and retail investors via offerings in both hedge fund and long-only vehicles.

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RP Investment Advisors LP

Location: Canada

Date of First Investment: 2011

RP Investment Advisors LP (“RPIA”) is an alternative fixed income manager specializing in corporate bonds and active interest-rate risk management. The firm seeks to generate positive returns in all markets with a relentless focus on long-term capital preservation and growth. It offers best-in-class operational infrastructure, risk management, transparency and reporting.

RPIA was founded in 2009 by a group of partners who each have more than 20 years of international and debt market experience. Senior partners include Andrew Pringle (Chairman), Michael Quinn (Chief Investment Officer) and Richard Pilosof (CEO), previously the Head of Global Fixed Income at RBC Capital Markets. The firm’s institutional quality infrastructure includes its Management Advisory Group with Chuck Winograd (former CEO of RBC Capital Markets), and William Moriarty (former President and CEO of UTAM) as Chair of the Risk Committee.

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Shoreline Capital

Location: Asia

Date of First Investment: 2015

Founded in 2004, Shoreline Capital is one of the most experienced local fund managers specializing in China distressed/special situations investments.  Headquartered in Guangzhou, the firm has over 40 professionals and is led by Ms Xiaolin Zhang with over 20 years of investment experience in China, 13 of which are in distressed debt. Over the years, Shoreline has built a dedicated and proprietary platform with in-house capabilities to source, originate, and execute deals. The firm currently has over US$1bn AUM and is supported by some well-known global institutional investors including foundations, pensions and financial institutions.

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SIR Capital Management

Location: United States

Date of First Investment: 2010

SIR Capital Management, L.P. (“SIR Capital”) is a New York based asset management firm specializing in energy and related industries. Founded in 2007, SIR Capital manages more than $1 billion in assets on behalf of predominantly U.S. based institutional investors. The Firm’s investment team is dedicated to deep fundamental research and a highly disciplined portfolio construction process that seeks to exploit relative value opportunities in global energy equities and equities of issuers in related industries.

Springs Capital

Location: Asia

Date of First Investment: 2016

Founded in 2007, Springs Capital is an alternative investment manager that specializes in Chinese listed companies with offices in Beijing, Hong Kong, Shanghai, Shenzhen and Singapore. The firm’s investment style is contrarian bottom-up stock picking based on rigorous research in out-of-favor sectors. The firm typically runs a concentrated portfolio featuring high conviction names. Springs Capital offers both RMB products and USD hedge fund & customized accounts to serve domestic Chinese clients and global investors.

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StepStone

Location: United States

Date of First Investment: 2016

StepStone is a leading private markets firm that oversees over US$105 billion of private capital allocations, including approximately US$29 billion of assets under management. It is a global firm with offices in Beijing, Dublin, Hong Kong, La Jolla, London, New York, Perth, San Francisco, São Paulo, Seoul, Sydney, Tokyo, Toronto and Zurich. StepStone creates customized portfolios for many of the world’s most sophisticated investors using a highly disciplined, research-focused approach that prudently integrates primaries, secondaries, and co-investments.

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TD Asset Management

Location: Canada

Date of First Investment: 2009

TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. Operating through TD Asset Management Inc. in Canada and TDAM USA Inc. in the U.S., TDAM brings new thinking to investors’ most important challenges. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Collectively, TDAM manages over C$287.9 billion in assets as at December 31, 2016.

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The Catalyst Capital Group Inc.

Location: Canada

Date of First Investment: 2007

Short description of the firm: Catalyst specializes in control and/or influence investments in distressed and undervalued Canadian situations. The Catalyst team collectively possesses more than 110 years of relevant experience in restructuring, credit markets and merchant and investment banking in both the U.S. and Canada. The Catalyst team has extensive knowledge of and experience in navigating the Canadian capital markets and integrating Canadian restructurings, when necessary, with U.S. and other jurisdictions’ capital market restructuring, regulatory, and political processes. This experience combined with significant on-the-ground presence has resulted in Catalyst being one of the preeminent investors in distressed and undervalued situations globally. Catalyst believes its job is to manufacture risk-adjusted returns and, as a result, its Guiding Principles are an integral part of its culture. Catalyst has raised five funds (and two parallel funds) with over US $4.3 billion in capital commitments from prominent university endowments, charitable foundations, pension plans, family offices and financial institutions.

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Tybourne Capital Management

Location: Hong Kong

Date of First Investment: 2017

Tybourne Capital Management is a Hong Kong-based investment firm that employs a fundamental, research-driven approach across equity long-short and equity long-only strategies.  Tybourne invests globally, with a foothold in Asia, and focuses on four sectors: Consumer, Financials, Industrials and TMT.

Advent International

ARC Financial Corp.

Black Diamond Capital Management, L.L.C.

Blackstone

Centerbridge Partners, L.P.

Cinven Limited

Crestline Management, L.P.

Darby Private Equity

Energy Capital Partners

Europa Capital

Fenway Partners, LLC.

Global Infrastructure Partners

Goldman Sachs Asset Management

Knightsbridge Advisers

Kohlberg Kravis Roberts & Co.

Madison Dearborn Partners

MBK Partners LP

Morgan Stanley Infrastructure

Oaktree Capital Management

Onex Partners

Pantheon

Pioneer Investments

Rhone Group

Russell Investments

Sanderling Venture Partners

Soroban Capital Partners LLC

Tech Capital Partners

Tourbillion Capital Partners, L.P.

Treesdale Partners, LLC

Tricon Capital Group

Ventures West Capital

W.L. Ross & Co LLC

Wolfensohn Fund Management, L.P.