Pinetree Capital Ltd.

Clarke Inc.CKI · Investment Holding CompanyHalifax, Canada

66% matchPublic

Established in 1997 and based in Halifax, Canada, Clarke Inc. functions as a private equity and venture capital firm. It targets a diverse range of investment opportunities, including middle-market enterprises, turnaround situations, PIPEs, bridge financing, recapitalizations, and buyouts. The firm primarily seeks out undervalued or underperforming businesses that possess significant tangible assets. Its investment scope extends to both public and private entities, encompassing companies, various securities, and other asset classes like real estate. Clarke Inc. deploys capital primarily through equity, debt, and other securities. Its sector focus includes industries rich in physical assets, such as manufacturing, industrial, energy, materials, and real estate. Within the oil and gas industry, it invests in both debt and equity securities, showing a clear preference for well-priced equity over debt, and for oil service firms rather than exploration and production (E&P) companies. The firm's geographical emphasis is primarily on Canada and the United States. Clarke Inc. actively seeks involvement in the governance and/or management of its portfolio companies, often through board participation. All its investments are made directly from the company's balance sheet.

PC Pinebrook Holdings, LLCInvestment ManagementUnited States

64% matchPrivate

PC Pinebrook Holdings, LLC (operating as The Pinebrook Group) is a Boston-based investment firm that focuses on opportunities in sports and real estate. The company takes a long-term approach to investing in and building sustainable assets that serve its partners, staff, and local communities.

Onex CorporationONEX · Investment ManagementToronto, Canada

64% matchPublic

Onex Corporation functions as a private equity firm, primarily focused on strategic acquisitions and building out platform companies. Its diverse investment strategies include management buyouts, growth equity injections, recapitalizations, operational restructurings of undervalued entities, and corporate carve-outs of non-core divisions from multinational corporations. The firm also pursues investments in distressed businesses across small, mid, large, and upper-middle market capitalizations. Onex targets a wide array of industries globally, such as technology, aerospace, healthcare, retail, restaurants, entertainment, gaming, and various manufacturing sectors including electronics, industrial products, metal services, building products, cabinetry, and commercial vehicles. It also extends its reach into financial services, encompassing commercial and investment banking, financial advisory, and commercial and multi-unit residential real estate. Geographically, Onex seeks businesses headquartered in North America, specifically the United States and Canada, or Europe. Investment commitments typically range from $125 million to $1 billion for companies with at least $300 million in annual revenue, although this minimum is flexible if the target operates in an industry where Onex already has an established presence. The firm makes direct investments and co-investments through its managed private equity, real estate, and credit funds, consistently aiming to secure a controlling stake in its portfolio companies. Founded in 1984, Onex Corporation is headquartered in Toronto, Canada, with additional offices located in New York, Englewood Cliffs, Boston, and London.

The Westaim Corporation is a private equity and venture capital firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements. For direct investments, the firm invests in early venture, mezzanine, mid venture, late venture, middle market, later stage, mature, emerging growth, PIPEs, and buyout transactions. For fund of fund investments, it seeks to invest in private equity funds, venture capital funds, and hedge funds. The firm seeks to provide long term capital to businesses operating in the global financial services industry including multi-sector holdings and specialized finance sectors. It typically acquires controlling interests in businesses. The firm seeks to acquire debt, equity, or derivative securities of both public and private companies. It invests with the objective of providing its shareholders with capital appreciation and real wealth preservation. The firm seeks to provide its portfolio companies with advisory services including, but not limited to, advice on capital allocation, financing strategy, performance measurement and merger and acquisition support. It also seeks to partner with like-minded providers of third party capital to help supplement the firm’s own capital, when completing acquisitions. The firm generally seeks to hold its investments for 7 to 15 years. The Westaim Corporation was founded in 1996 and is based in Toronto, Canada with an additional office in New York, New York.

Hillsdale Capital Group, LLCInvestment ManagementUnited States

62% matchPrivate

Hillsdale Investment Management Inc. is an investment management firm that combines fundamental equity research with quantitative tools and techniques. The company specializes in Canadian, U.S., International, and Global equities, serving individuals, families, and institutional investors.

Gresham House Strategic plc operates as an investment fund, specializing in various capital injections including private investments in public equity (PIPEs), pre-initial public offering (pre-IPO) financing, growth and acquisition funding, and recovery capital. The fund directs its investments towards companies primarily within the financial services, media, information and communication technology, digital information and technology, healthcare, and life sciences industries. While its main geographic focus is on the United Kingdom and Europe, it also undertakes co-investments beyond Europe in collaboration with local venture capital firms. This fund actively seeks opportunities for follow-on investments, typically acquiring ownership stakes of between 5% and 25% in target companies, which can be paid for with cash or shares. The intended investment horizon for these holdings ranges from three to five years. It invests in both smaller public companies and private enterprises. For public company investments, the fund targets those listed on the FTSE All-Share and AIM All-Share indices that meet specific criteria: stocks trading more than 50% below their three-year price peak, an Enterprise Value to EBITDA multiple less than 7 times, gearing above 75%, a Return on Capital Employed (ROCE) exceeding 10%, and a Free Cash Flow (FCF) Yield greater than 10%. In the private sector, investments encompass peer-to-peer (P2P) opportunities, various forms of equity and equity-related instruments, preferred equity, and preferred quasi-equity positions, including both convertible and non-convertible debt, as well as mezzanine financing. Excluding cash, the fund's portfolio is characterized by a weighted average Enterprise Value to EBITDA ratio surpassing 5 times and, as per broker forecasts, achieved over 10% growth in 2017. Ultimately, Gresham House Strategic plc aims for a long-term net Internal Rate of Return (IRR) of 15%.