FENGATE

Thesis

Fengate Asset Management is a prominent alternative investment firm founded in 1974 and headquartered in Toronto, Canada. With over $27 billion in assets under management and a team of more than 275 professionals, Fengate focuses on infrastructure, private equity, and real estate, primarily across North America. The firm integrates ESG principles into its investment processes. Their investment strategy centers on real assets and growth equity. In infrastructure, they invest in and develop core and value-add projects including transportation, energy, utilities, and digital infrastructure. For private equity, Fengate targets lower middle-market businesses, utilizing transformative capital and operational expertise. Their real estate division manages investments and development across commercial, residential, and mixed-use sectors. Fengate employs a direct investment approach, fund management, and strategies like acquiring equity stakes, structuring joint ventures, and co-investments. Recent fundraising successes include Fengate Infrastructure Fund IV closing at $1.1 billion and Fengate Infrastructure Fund V with a reported size of $1 billion. While specific check sizes are not disclosed, their focus on mid-market infrastructure and lower middle-market private equity implies substantial investments. The firm has offices in Toronto, Oakville, Miami, and Houston.

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