TORONTO, May 24, 2016 /CNW/ - John Bitove, Phil Evershed and Barry Goldberg, Managing Partners of Oxford Park Group, announce the formation of PointNorth Capital Inc. ("PointNorth"). PointNorth will succeed Oxford Park and continue its successful strategy of making special situation investments. PointNorth will target investments in the debt and equity of Canadian companies that are experiencing financial or operational challenges, are in out-of-favour sectors or are otherwise in need of change.
OMERS, one of Canada's largest pension plans, has agreed to make a significant capital commitment to PointNorth. OMERS' commitment, in addition to substantial personal commitments from the Managing Partners, will enable PointNorth to immediately act on its well-developed pipeline of investment opportunities. Additional capital commitments from Canadian and international institutional investors will be invested alongside OMERS and the Managing Partners.
"We believe the Canadian market represents a compelling near-term investment opportunity, given global economic headwinds and Canadian structural factors," said John Bitove, a Managing Partner of PointNorth. "We are confident that our unique brand of constructive engagement will enable PointNorth to invest in challenging situations and drive significant value for stakeholders."
SOURCE PointNorth Capital Inc.
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