Sarbjit S. Basra

Managing Partner

Sarbjit S. Basra

Sarbjit S. Basra

Managing Partner

“The strength of our firm – and the value we provide to clients – depends on the strength of our people. We foster an environment that inspires our people to thrive and remain singularly focused on our clients’ success.”

Managing Partner in Toronto, Sarb leads the firm’s strategic direction. He sets the standard for our partnership with his commitment to excellence and client service.

For over two decades, leading private equity firms and institutions have trusted Sarb for his ongoing advice on private fund formation, the creation of pooled investment vehicles and investment transactions – both in Canada and internationally. He is known for providing innovative solutions to clients’ most complex business initiatives – whether structuring a private fund or leading a private equity or M&A transaction.

Clients consider Sarb a “senior and strategic” lawyer who “looks after relationships really well,” describing him as “phenomenal” and “the best in Canada.” (Chambers Canada 2020; Chambers Canada 2019)

Sarb is a key adviser to governments on the establishment of private sector–led funds of funds designed to spark venture capital investment by the private sector. Most recently, he advised the Business Development Bank of Canada on the formation of four funds of funds as part of its Venture Capital Catalyst Initiative.

Sarbjit S. Basra

Managing Partner

“The strength of our firm – and the value we provide to clients – depends on the strength of our people. We foster an environment that inspires our people to thrive and remain singularly focused on our clients’ success.”

Managing Partner in Toronto, Sarb leads the firm’s strategic direction. He sets the standard for our partnership with his commitment to excellence and client service.

For over two decades, leading private equity firms and institutions have trusted Sarb for his ongoing advice on private fund formation, the creation of pooled investment vehicles and investment transactions – both in Canada and internationally. He is known for providing innovative solutions to clients’ most complex business initiatives – whether structuring a private fund or leading a private equity or M&A transaction.

Clients consider Sarb a “senior and strategic” lawyer who “looks after relationships really well,” describing him as “phenomenal” and “the best in Canada.” (Chambers Canada 2020; Chambers Canada 2019)

Sarb is a key adviser to governments on the establishment of private sector–led funds of funds designed to spark venture capital investment by the private sector. Most recently, he advised the Business Development Bank of Canada on the formation of four funds of funds as part of its Venture Capital Catalyst Initiative.

ArcTern Ventures

Acting for ArcTern Ventures in the formation of ArcTern Ventures Fund II, a cleantech fund that invests in cleantech startup companies primarily focussed on developing breakthrough solutions that enable the shift to a low-carbon, sustainable economy.

Canadian Business Growth Fund

Acted for Canada's leading banks and insurance companies to form the Canadian Business Growth Fund, an independent evergreen fund with a national mandate to provide long-term patient, minority capital to entrepreneurs pursuing growth and expansion strategies.

Canadian Business Growth Fund

Acted for Canadian Business Growth Fund in connection with its investment in Lift Auto Group, a consolidator of automotive collision repair centres, and its investment in PayBright, a technology-enabled point-of-sale consumer payments and lending platform.

Business Development Bank of Canada

Acting for Business Development Bank of Canada in connection with the Government of Canada's Venture Capital Catalyst Initiative, which involves the formation of certain venture capital fund-of-funds. Northleaf Venture Catalyst Fund II, HarbourVest Canada Growth Fund II, Teralys Capital Innovation Fund and Kensington Venture Fund II, four of the five venture capital fund-of-funds established under the VCCI program, had their final closings in 2019.

The Manufacturers Life Insurance Company

Acted for The Manufacturers Life Insurance Company in connection with its acquisition of a 49% interest in Q Management LP, the multi-family asset and property management entity of Conundrum Capital Corporation.

Beringer Capital

Acted for Beringer Capital in connection with its acquisition of AdWeek.

Altas Partners

Acted for Altas Partners in connection with the establishment of the firm and the formation of Altas Partners II LP, Altas' second fund with US$3 billion in commitments.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the formation of an innovative evergreen fund for Canada Pension Plan Investment Board.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the formation of its closed-end private credit program and its open-ended, evergreen private credit investment fund.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the establishment of a US$1.4-billion Northleaf global private credit program and Northleaf's related acquisition, through a new Northleaf-managed investment fund, of a 16% equity stake in Antares Holdings from CPPIB Credit Investments Inc.

Waterton Global Resource Management

Acted as counsel to Waterton Nevada Splitter, LLC, a wholly owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, in connection with the acquisition of the Mt. Hamilton gold project from Solitario Exploration & Royalty Corp. and Ely Gold & Minerals Inc.

Golden Ventures

Acted for Golden Ventures in connection with the formation of its third fund, Golden Ventures III, a leading seed-stage venture capital fund investing across North America.

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.

500 Startups

Acted for 500 Startups in the formation of its first Canadian venture capital seed fund.

InstarAGF Asset Management Inc.

Acted for InstarAGF Asset Management Inc. in the formation of US$1.2-billion InstarAGF Essential Infrastructure Fund II, an infrastructure fund focused on investments in North America, with limited partners from Canada, U.S., Europe and Asia.

B+H International GP Ltd.

Acted for B+H Architects, a leading architecture and design firm, in connection with a significant investment by Surbana Jurong Private Limited in B+H Architects, and the sale by Arcterra Limited Partnership of its interest in B+H Architects to Surbana Jurong Private Limited.

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

ILPA Model LPA: ILPA 3.0 Was Only the Beginning

Nov. 13, 2019 - The Institutional Limited Partners Association (ILPA) has released a Model Limited Partnership Agreement (Model LPA) following its publication of the third version of its principles of industry best practices (ILPA 3.0) earlier this year. The Model LPA reflects ILPA 3.0 and is part of ILPA’s...

Bulletin

ILPA Principles 3.0: Back to the Future?

Sept. 16, 2019 - In June 2019, the Institutional Limited Partners Association (ILPA) published a third version of principles that set out ILPA’s view of industry best practices (ILPA 3.0). ILPA 3.0 contains several recommendations regarding the ways in which fund sponsors should structure their funds to ensure a...

Chambers Canada : Canada’s Leading Lawyers for Business—Private Equity: Fund Formation (Band 1)

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Corporate Commercial Law

Lexpert Special Edition: Finance and M&A

The Canadian Legal Lexpert Directory—Corporate Commercial Law (Most Frequently Recommended); Private Equity (Most Frequently Recommended); Corporate Mid-Market; Corporate Finance and Securities; Investment Funds and Asset Management: Investment Funds; Mergers and Acquisitions

Lexpert Guide to US/Canada Cross-Border Lawyers in Canada—Financing

The Best Lawyers in Canada—Private Funds Law (Lawyer of the Year 2019, Toronto); Corporate Law; Leveraged Buyouts and Private Equity Law; Securities Law

Who’s Who Legal: Canada—Private Funds (Most Highly Regarded); Who’s Who Legal: Private Funds—Formation

Expert Guides—Private Equity

Bar Admissions

Ontario, 1994

Education

Osgoode Hall Law School, LLB, 1992
University of Alberta, BComm, 1992

Professional Affiliations

Canadian Venture Capital and Private Equity Association

“The strength of our firm – and the value we provide to clients – depends on the strength of our people. We foster an environment that inspires our people to thrive and remain singularly focused on our clients’ success.”

Managing Partner in Toronto, Sarb leads the firm’s strategic direction. He sets the standard for our partnership with his commitment to excellence and client service.

For over two decades, leading private equity firms and institutions have trusted Sarb for his ongoing advice on private fund formation, the creation of pooled investment vehicles and investment transactions – both in Canada and internationally. He is known for providing innovative solutions to clients’ most complex business initiatives – whether structuring a private fund or leading a private equity or M&A transaction.

Clients consider Sarb a “senior and strategic” lawyer who “looks after relationships really well,” describing him as “phenomenal” and “the best in Canada.” (Chambers Canada 2020; Chambers Canada 2019)

Sarb is a key adviser to governments on the establishment of private sector–led funds of funds designed to spark venture capital investment by the private sector. Most recently, he advised the Business Development Bank of Canada on the formation of four funds of funds as part of its Venture Capital Catalyst Initiative.

ArcTern Ventures

Acting for ArcTern Ventures in the formation of ArcTern Ventures Fund II, a cleantech fund that invests in cleantech startup companies primarily focussed on developing breakthrough solutions that enable the shift to a low-carbon, sustainable economy.

Canadian Business Growth Fund

Acted for Canada's leading banks and insurance companies to form the Canadian Business Growth Fund, an independent evergreen fund with a national mandate to provide long-term patient, minority capital to entrepreneurs pursuing growth and expansion strategies.

Canadian Business Growth Fund

Acted for Canadian Business Growth Fund in connection with its investment in Lift Auto Group, a consolidator of automotive collision repair centres, and its investment in PayBright, a technology-enabled point-of-sale consumer payments and lending platform.

Business Development Bank of Canada

Acting for Business Development Bank of Canada in connection with the Government of Canada's Venture Capital Catalyst Initiative, which involves the formation of certain venture capital fund-of-funds. Northleaf Venture Catalyst Fund II, HarbourVest Canada Growth Fund II, Teralys Capital Innovation Fund and Kensington Venture Fund II, four of the five venture capital fund-of-funds established under the VCCI program, had their final closings in 2019.

The Manufacturers Life Insurance Company

Acted for The Manufacturers Life Insurance Company in connection with its acquisition of a 49% interest in Q Management LP, the multi-family asset and property management entity of Conundrum Capital Corporation.

Beringer Capital

Acted for Beringer Capital in connection with its acquisition of AdWeek.

Altas Partners

Acted for Altas Partners in connection with the establishment of the firm and the formation of Altas Partners II LP, Altas' second fund with US$3 billion in commitments.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the formation of an innovative evergreen fund for Canada Pension Plan Investment Board.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the formation of its closed-end private credit program and its open-ended, evergreen private credit investment fund.

Northleaf Capital Partners

Acted for Northleaf Capital Partners in connection with the establishment of a US$1.4-billion Northleaf global private credit program and Northleaf's related acquisition, through a new Northleaf-managed investment fund, of a 16% equity stake in Antares Holdings from CPPIB Credit Investments Inc.

Waterton Global Resource Management

Acted as counsel to Waterton Nevada Splitter, LLC, a wholly owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, in connection with the acquisition of the Mt. Hamilton gold project from Solitario Exploration & Royalty Corp. and Ely Gold & Minerals Inc.

Golden Ventures

Acted for Golden Ventures in connection with the formation of its third fund, Golden Ventures III, a leading seed-stage venture capital fund investing across North America.

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.

500 Startups

Acted for 500 Startups in the formation of its first Canadian venture capital seed fund.

InstarAGF Asset Management Inc.

Acted for InstarAGF Asset Management Inc. in the formation of US$1.2-billion InstarAGF Essential Infrastructure Fund II, an infrastructure fund focused on investments in North America, with limited partners from Canada, U.S., Europe and Asia.

B+H International GP Ltd.

Acted for B+H Architects, a leading architecture and design firm, in connection with a significant investment by Surbana Jurong Private Limited in B+H Architects, and the sale by Arcterra Limited Partnership of its interest in B+H Architects to Surbana Jurong Private Limited.

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

ILPA Model LPA: ILPA 3.0 Was Only the Beginning

Nov. 13, 2019 - The Institutional Limited Partners Association (ILPA) has released a Model Limited Partnership Agreement (Model LPA) following its publication of the third version of its principles of industry best practices (ILPA 3.0) earlier this year. The Model LPA reflects ILPA 3.0 and is part of ILPA’s...

Bulletin

ILPA Principles 3.0: Back to the Future?

Sept. 16, 2019 - In June 2019, the Institutional Limited Partners Association (ILPA) published a third version of principles that set out ILPA’s view of industry best practices (ILPA 3.0). ILPA 3.0 contains several recommendations regarding the ways in which fund sponsors should structure their funds to ensure a...

Chambers Canada : Canada’s Leading Lawyers for Business—Private Equity: Fund Formation (Band 1)

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Corporate Commercial Law

Lexpert Special Edition: Finance and M&A

The Canadian Legal Lexpert Directory—Corporate Commercial Law (Most Frequently Recommended); Private Equity (Most Frequently Recommended); Corporate Mid-Market; Corporate Finance and Securities; Investment Funds and Asset Management: Investment Funds; Mergers and Acquisitions

Lexpert Guide to US/Canada Cross-Border Lawyers in Canada—Financing

The Best Lawyers in Canada—Private Funds Law (Lawyer of the Year 2019, Toronto); Corporate Law; Leveraged Buyouts and Private Equity Law; Securities Law

Who’s Who Legal: Canada—Private Funds (Most Highly Regarded); Who’s Who Legal: Private Funds—Formation

Expert Guides—Private Equity

Bar Admissions

Ontario, 1994

Education

Osgoode Hall Law School, LLB, 1992
University of Alberta, BComm, 1992

Professional Affiliations

Canadian Venture Capital and Private Equity Association