Tim’s practice focuses on fund formation, asset management and the regulation of investment advisors, including derivatives and domestic and offshore structured finance. Clients rely on his dynamic and creative solutions for their complex and challenging matters.
Highly regarded for his specialized knowledge and business-minded approach, Tim is often sought after by Canadian and global private fund managers and sponsors.
He is known for his responsive approach, and has significant expertise in structuring and establishing complex private funds, including hedge, credit, real estate, infrastructure, fund of funds and other investment vehicles. Tim is a leading practitioner in setting up complex master-feeder structures and access funds with investors and/or investment assets situated across the globe. In addition, he regularly advises foreign asset managers and others with respect to regulatory and compliance issues. Numerous private funds, corporations and other institutional end users consult him for strategic advice on derivative transactions, custody and administration arrangements and collateral arrangements, including hedge funds, real estate, private equity and infrastructure funds.
Tim also advises numerous corporate and financial institutions with respect to lending and project finance.
Tim has taught sections of the Advanced Business Law Workshop at Osgoode Hall Law School. He speaks at numerous conferences and writes on topics related to investment funds and derivatives.
Third Eye Asset Management Inc.
Acted for Third Eye Asset Management Inc., an affiliate of Toronto-based alternative capital firm Third Eye Capital, in connection with the structuring, documentation and launch of TEC Credit Income Fund, an innovative, efficient investment structure that will provide investors with fixed-rate returns and first loss protection on credit losses from a portfolio of private loans. In addition to being open to Canadian accredited investors, the TEC Credit Income Fund has been structured to attract capital from investors globally.
Lithium Royalty Corp
Acted for Lithium Royalty Corp. in its C$150-million initial public offering of common shares underwritten by a syndicate co-led by Canaccord Genuity Corp and Citigroup Global Markets Canada Inc.
Lithium Royalty Corp.
Acted for an affiliate of Lithium Royalty Corp. in its purchase of a net smelter returns royalty involving the Mariana Lithium Project in Argentina from TNR Gold Corp.
Lithium Royalty Corp.
Acted for Lithium Royalty Corp. and Waratah Capital Advisors Ltd. in connection with a US$14-million investment in Noram Lithium Corp., consisting of the purchase of a 1.0% gross overriding royalty on Noram Lithium Corp. high-grade Zeus Lithium Project in Clayton Valley, Nevada, for US$5 million and a concurrent strategic equity investment through a US$9-million private placement.
Onex Falcon
Acted as Canadian counsel to Onex Falcon in the formation of Onex Falcon Direct Lending Cayman Fund, a differentiated credit offering focused on principal preservation and downside protection via directly originated senior secured loan investments. Onex Falcon, together with Onex Credit Partners, constitutes the private and public credit platform of Onex Corporation.
Gluskin Sheff + Associates Inc
Acted for Gluskin Sheff + Associates Inc. in the merger of Blair Franklin Global Credit Fund with the GS+A Tactical Fixed Income Funds, and their restructuring and documentation to form Blair Franklin Global Credit Fund LP, an Ontario limited partnership; Blair Franklin Global Credit Fund (Delaware) LP, a Delaware limited partnership; Blair Franklin Global Credit Fund (Cayman), a Cayman Islands exempted company; and Blair Franklin Global Credit Fund (MFT).
Black Diamond Asset Management LP
Acted for Black Diamond Asset Management LP in establishing a sub-advisory relationship to manage Black Diamond Global Enhanced Income Fund, Black Diamond Global Equity Fund and Black Diamond Distressed Opportunities Fund, each a prospectus offered mutual fund sponsored by Purpose Investments.
Onex Credit Partners LLC
Acted as Canadian counsel to Onex Credit Management, LLC in connection with structuring and documenting Onex Structured Credit Opportunities Fund I, LP, a Cayman Islands exempted limited partnership, that will act as a master fund and invest the capital of each of Onex Structured Credit Opportunities Partners I, LP, a Delaware limited partnership, and Onex Structured Credit Opportunities International Fund I, LLC, a Cayman Islands limited liability company, each as a feeder fund.
Waratah Capital Advisors Ltd.
Acting for Waratah Capital Advisors Ltd. in structuring and documenting the Royalty Capital Funds I-II and II-II, parallel funds offering interests to investors globally, together with a co-investment arrangement in a fund asset.
Anson Advisors Inc. and Anson Funds Management LP
Acted for Anson Advisors Inc. and Anson Funds Management LP with the structuring and documentation of Anson North Star Tactical Equity Fund L.P., a Cayman Islands exempted limited partnership, with a Canadian feeder formed as a unit trust, a Canadian feeder formed as an Ontario limited partnership, a Cayman Islands feeder and potentially a U.S. feeder fund.
Samara Capital Inc.
Acted for Samara Capital Inc. with the regulatory exemptions and reorganization of Samara Fund Ltd. as a feeder fund that invests substantially all of its capital in a Cayman Islands master fund. The funds are authorized to invest in a wide range of investments and use a broad range of investment strategies on an opportunistic basis.
Anson Advisors and Anson Funds Management
Acted for Anson Advisors and Anson Funds Management with the documentation of Anson East Master Fund L.P., a Cayman Islands exempted limited partnership and a Cayman feeder fund. The funds will utilize a range of investment strategies, primarily including investments in publicly-traded equity securities (both short and long common stocks and equity options) to create a concentrated portfolio of best available opportunistic investments in special situations.
Anson Advisors Inc.
Acted for Anson Advisors Inc. in the formation of the Arch Absolute Return Real Estate Funds pursuant to a joint venture with Arch Corporation and its affiliates.
Waratah Capital Advisors Ltd.
Acted for Waratah Capital in the formation of the Royalty Capital Limited Partnerships, each of which invests in Lithium Royalty Corporation.
Breton Hill Capital Ltd.
Acted for Breton Hill Capital Ltd., a Canadian investment firm managing approximately US$2 billion in client assets, in its sale to Neuberger Berman Group LLC, a global, independent, employee-owned investment manager.
DPS Capital Inc.
Acting for DPS Capital Inc. with the restructuring of Parkwood Limited Partnership Fund as a feeder fund, investing substantially all of its capital in a Cayman Islands master fund.
White Crane Capital Corp.
Acted as counsel for White Crane Capital Corp. in the structuring and formation of the White Crane Multi-Strategy Funds.
Canadian Imperial Bank of Commerce and The Toronto-Dominion Bank
Acted for the underwriters, being Canadian Imperial Bank of Commerce and The Toronto-Dominion Bank, in connection with the financing of Acasta Enterprises Inc.'s acquisition of Apollo Health & Beauty Care Partnership and JemPak Corporation for aggregate consideration, together with Acasta's acquisition of the commercial aviation finance advisory and asset management businesses of Stellwagen Finance Company, of $1.2 billion.
Spear Street Capital, LLC
Acted for Spear Street Capital, LLC in connection with its $305-million purchase of the majority of BlackBerry Limited's real estate holdings in Canada, including its global headquarters in Waterloo, Ontario. BlackBerry sold more than 3 million square feet of space as well as vacant lands, and leased back a portion of the space.
Diversified Global Asset Management Corporation
Acted for Diversified Global Asset Management Corporation, a global manager of hedge funds with more than $6.7 billion in managed and advised assets, in its acquisition by The Carlyle Group.
Plenary Properties DES LP
Acted for Plenary Properties DES LP which was awarded a 10-year contract to provide Driver Examination Services for the Ontario Ministry of Transportation.
GMP Investment Management
Acted for GMP Investment Management in the formation and the private placement of securities of Genesis Partners Fund, L.P., an innovatively structured alternative investment fund/private equity fund hybrid.
DBRS Limited
Acted for DBRS Limited in connection with its rating of the new debt obligations issued under the restructuring of $32 billion of non-bank sponsored asset-backed commercial paper.
Canada Lands Company CLC Limited
Acted for Canada Lands Company CLC Limited on its acquisition of Pensionfund Realty Limited's leasehold interest in the Metro Toronto Convention Centre Complex, specifically the InterContinental Toronto Centre Hotel and the office tower at 277 Front Street West in Toronto, Ontario.
Plenary Group
Acted for Plenary Group which was awarded a contract by Infrastructure Ontario to design, build, finance and maintain a multi-million dollar MGS Data Centre in Guelph, Ontario. Scheduled for completion in 2010, the new data centre, for the Ministry of Government and Consumer Services, will provide a major upgrade to Ontario's information technology support capacity. Plenary's contract covers a 30-year maintenance period. At the end of the 30-year maintenance period, Plenary Properties will have been paid approximately $637.2 million for the construction of the facility, building maintenance, lifecycle repair and renewal and project financing. In today's dollars this is equivalent to $352 million.
The Winnington Capital Group Inc.
Acted for The Winnington Capital Group Inc. in the formation of Winnington Opportunities Fund L.P.
EdgeStone Capital Equity Fund III, LP
Acted for private equity fund EdgeStone Capital Equity Fund III, LP in its $70-million negotiated takeover bid for Stephenson's Rental Services Income Fund.
Plenary Group
Acted for The Plenary Group, part of Plenary Properties, which has teamed with York University to deliver a new state-of-the-art headquarters for the Archives of Ontario, in its successful bid to design, build, manage and finance the new Archives of Ontario building.
Cascadia Forest Products Ltd.
Acted for Cascadia Forest Products Ltd. in regard to its asset-based credit facility provided by CIT Business Credit Canada. Cascadia Forest Products was launched following the closure of Brascan's acquisition of Weyerhauser's B.C. Coastal timberland assets.
Brascan Corp.
Acted for Brascan Corp. in the equity financing, bridge loan and asset-based facility for the $1.2 billion acquisition of Weyerhaeuser Company Ltd.'s British Columbia coastal business.
Guide
Regulatory Aspects of Investment Funds in Canada, annual
July 15, 2021 - Investment Funds & Private Equity (IBFD Tax Research Platform)
Purchase a copy of Investment Funds & Private Equity.
Bulletin
COVID-19: Considerations for Investment Funds
Mar. 24, 2020 - The COVID-19 pandemic will affect managers of hedge funds and other similarly structured open-ended private funds in a number of ways. The nature and extent to which any particular fund and its manager are affected by COVID-19 will depend on the stage and maturity of the fund, the investment...
Bulletin
COVID-19: What Private Fund Managers Need to Know Now
Mar. 24, 2020 - The COVID-19 pandemic will affect managers of private funds in several ways. The nature and extent to which any particular fund manager is affected by COVID-19 will depend on many factors, including the type of fund, the investor base of the fund and whether the fund is currently being marketed to...
Bulletin
Go North, Young Fund! Marketing Private Funds in Canada, co-author
Oct. 31, 2019 - Canada is an attractive market for foreign private funds that wish to market to, and place their interests with, institutional or high-net-worth investors. Foreign private fund managers sometimes find themselves perplexed by the various rules and regulations that apply to their private...
Bulletin
New Rules for Custody of Client Assets in Force Soon
May 10, 2018 - Last summer, the Canadian Securities Administrators (CSA) published the final version of the amendments to registrants’ obligations with respect to the custody of client assets, among other changes, under National Instrument 31-103, Registration Requirements, Exemptions and Ongoing Registrant...
Guide
Discussion Paper: The Quality of the Shareholder Vote in Canada
Oct. 22, 2010 - Reason for the Paper As a firm, we have extensive experience with shareholder meetings. Some of these meetings are routine, others involve proxy battles, the approval of important transactions or votes on governance matters such as shareholder rights plans or stock option plans. Together...
