Toronto-based Private Capital Markets Association of Canada (PCMA) has declared the winners of the Private Capital Markets Deals of the Year Awards.
The awards were announced at the PCMA’s fourth annual conference on May 19 in Toronto. Nominees were evaluated based on their leadership in the industry; the qualities of the deal; and its impact on the business, the industry and the community. The winners were decided by a selection committee of independent members from the PCMA’s national board of directors.
Geoffrey Ritchie, executive director of the PCMA, said 2015 was the strongest nomination year in the awards’ three-year existence, with nominations coming from every region in the country.
“The 2015 PCMA award nominees reflect the many high quality and dynamic private capital deals going on across this country,” he said.
Winners included Raintree Financial Solutions, an Edmonton-based exempt market dealer (EMD), and AgCapita Farmland Fund for “agricultural equity deal of the year.” The EMD worked closely with AgCapita to raise its first farmland fund. The entire portfolio was sold in 2014 and delivered a net return of 12% to investors.
“Investment fund deal of the year” went to Portland Investment Counsel Inc., in Burlington, Ont., and its Portland Private Income Fund, which primarily invests into a portfolio of private debt securities across Canada. The fund’s return since inception to Mar. 31, was 9.4%.
TriView Capital Ltd., a Calgary-based EMD, and its collaboration with Hopewell Mahogany Ltd. Partnership snagged the “residential real estate deal of the year.” The EMD was able to secure a large private debt transaction to help continue Hopewell’s development of a residential community in Calgary.
Cranson Capital Securities Inc., in Toronto, and PlazaCorp claimed the “condominium development deal of the year.” Cranson Capital raised $14.5 million for PlazaCorp’s new Toronto condo development and conservative project forecasts suggest a potential profit of 120% to investors over an expected term of five years.
The “commercial real estate deal of the year” went to Calgary-based Arlington Street Investments and Haiku Management GP for a small commercial project in Calgary, where investors have received 100% return of their original invested capital and the project has paid 7.5% in annual distributions since 2010.
PowerOne Capital Markets Ltd., in Toronto, and Bedrocan Cannabis Corp. received the “biotechnology and manufacturing deal of the year” award. PowerOne was the exclusive lead on the first and second private placements totalling more than $15 million in Bedrocan Cannabis, which has been supplying pharmaceutical grade government regulated cannabis for 13 years.
Toronto-based Crosbie and Company Inc. and Blue Mountain Resorts Ltd. snagged the “private M&A deal of the year.” The specialty investment banking firm was recognized for its involvement in helping the Weider family, who founded the resort, sell their interest in the company at a valuation that was significantly higher than the initial offer.