Investment Management
Toronto-based alternative investment manager focused on infrastructure, private equity and real estate.
Fengate is a Canadian alternative investment manager that invests across infrastructure, private equity and real estate in North America. It began in 1974 as a Hamilton real estate brokerage and property manager and has a long-standing partnership with the LiUNA Pension Fund of Central and Eastern Canada, which dates to 1981. Its infrastructure business, active since 2006, targets mid-market greenfield and brownfield assets, while its private equity arm launched in 2017.
2 open roles4 deals9 people51 sources
Mid-market greenfield and brownfield infrastructure investing across digital, energy transition, social and transportation assets in North America; flagship closed-end fund series plus co-investment vehicles.
Fengate Private Equity, launched in 2017, invests in business services, healthcare, consumer staples and venture capital.
Integrated real estate platform (about $9.4 billion portfolio) spanning purpose-built rental, seniors communities (Seasons Retirement Communities), industrial, office, select hospitality and mixed-use developments, often alongside the LiUNA pension fund; residential platform branded Fengate Communities from 2026.
Strategy targeting housing, healthcare and logistics assets in the U.S. and Canada, used for projects such as the Julep West Loop development in Chicago.
| Toronto | ON | headquarters |
| Oakville | ON | office |
Miami · Houston
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From the inside
Reasons that work in interviews
4 reasons for Fengate Asset Management
Infrastructure and energy assets need refinancings, construction periods and asset recycling, so there is always work on an existing asset even when nothing new is being bought. That is a better “why infra” than stability or inflation protection, and it answers the hidden question about whether a junior will be busy.
Infrastructure, private equity and real estate under one roof, so you can see three private asset classes from one firm.
One of the most active Canadian P3 and public infrastructure investors, which means development and construction exposure rather than only operating assets.
Pension and labour capital behind the platform gives a long-duration mandate and a distinctive LP relationship.
Toronto-based and growing, so the platform has momentum rather than steady state.
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How juniors get in
Hires undergraduate summer interns into its Toronto private equity team, takes new graduates through a two-year rotational Graduate Development Program, and hires associates out of investment banking.
Green: evidence it does. Struck through: evidence it doesn’t. Dashed: no public evidence either way.
Each row is a start season; the bars are when you apply. The track starts this month, so how far right a bar sits is how far off it is.
Installs, maintains and repairs signage, lighting and exterior site infrastructure for multi-site commercial networks.
Business servicesLangley, BCSince 2026
Alberta P3 Schools Bundle 5
Bundle of six new schools delivered as a public-private partnership for the Province of Alberta.
Social (infrastructure)Since 2025
National platform uniting Canadian commercial roofing contractors.
Business servicesToronto, ONSince 2025
Pharma services firm focused on market access, real-world evidence and patient outcomes monitoring.
HealthcareDelray Beach, United StatesSince 2025
Lambton College Student Residence
Student residence project for Lambton College.
Social (infrastructure)Sarnia, ONSince 2025
Canadian public affairs and government relations firm.
Business servicesToronto, ONSince 2025
All-natural vegan bakery making plant-based baked goods.
Consumer staplesToronto, ONSince 2025
The Peter Gilgan Mississauga Hospital and Shah Family Hospital for Women and Children
P3 hospital project replacing the existing Mississauga Hospital, the largest hospital project in Canadian history.
Social (infrastructure)Mississauga, ONSince 2025
Caballero Battery Storage
100 MW / 400 MWh operational battery storage facility in California, developed with Alpha Omega Power.
Energy transition (infrastructure)Nipomo, United StatesSince 2024
Specialty packaged food company with a portfolio of shelf-stable brands.
Consumer staplesMiddleton, United StatesSince 2024
Vertus Battery Storage
200 MW / 400 MWh battery storage facility under construction in Texas with Alpha Omega Power.
Energy transition (infrastructure)Galveston, United StatesSince 2024
Morris Cogeneration Facility
192 MW operational cogeneration plant near Chicago, Illinois.
Energy transition (infrastructure)Morris, United StatesSince 2023
Clackamas County Circuit Courthouse
P3 replacement courthouse for the Clackamas County, Oregon judicial system.
Social (infrastructure)Clackamas County, United StatesSince 2022
Environmental contractor specializing in hazardous materials remediation and demolition.
Business servicesOttawa, ONSince 2022
Prairie Switch Wind
160 MW operational wind farm in Texas.
Energy transition (infrastructure)Wharton County, United StatesSince 2022
Network of plastic surgery, dermatology and medical spa clinics.
HealthcareOakville, ONSince 2021
Vertically integrated environmental and infrastructure services provider with a 70-year history.
Business servicesMississauga, ONSince 2021
JFK Terminal 6 Redevelopment
New passenger terminal on the former Terminal 6 and Terminal 7 sites at JFK Airport.
Transportation (infrastructure)New York, United StatesSince 2020
TowerCom
Portfolio of 380+ wireless communications towers across 15 US states, built through a partnership with TowerCom.
Digital (infrastructure)Since 2020
eStruxture Data Centers
Largest Canadian data centre platform, operating AI-ready facilities in Montreal, Toronto, Vancouver and Calgary.
Digital (infrastructure)Since 2017
Edmonton Valley Line LRT - Southeast
13 km light rail line delivered as a P3, connecting downtown Edmonton to Mill Woods.
Transportation (infrastructure)Edmonton, ABSince 2016
Oakville Trafalgar Memorial Hospital
P3 hospital serving the greater Oakville area since 2015.
Social (infrastructure)Oakville, ONSince 2011
President and Chief Executive Officer
Executive leadership
Leads Fengate as President and CEO and oversees the executive team and the firm's investment activities. Joined Fengate in 1995; his bio says he became CEO in 2002, while the firm's history page dates his appointment as President and CEO to 2005.
President, Fengate Real Estate
Real Estate
President of Fengate Real Estate, leading strategy and operations for a roughly $9.4 billion North American real estate portfolio and a team of about 95 professionals. Previously spent eleven years at Minto, including as Chief Investment Officer.
Chief Financial Officer
Executive leadership
CFO of Fengate since 2022, leading the finance function and sitting on the firm's investment committees. Joined Fengate's infrastructure business in 2009 and previously headed infrastructure asset management; earlier worked at Manulife Asset Management and KPMG.
Chief Operating Officer
Leadership
Chief Human Resources Officer
Leadership
General Counsel
Leadership
Head of Fengate Private Equity
Private Equity
Managing Director and Head of Private Equity, responsible for managing and growing Fengate's PE funds and a member of the Executive and Investment Committees. Joined in 2023 after almost twelve years at CPP Investments, most recently as Managing Director covering the consumer sector, and earlier worked at Boston Consulting Group.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Jul 20, 2026
Lekan IdowuHire
Senior Vice President, Capital Formation, Fengate Real Estate
Fiera Capital → Fengate Asset Management
Fengate Real Estate hired Lekan Idowu to lead capital formation across Canada and the U.S.; he previously raised institutional capital at Fiera Capital and held roles at Foyston, Gordon & Payne and RBC Global Asset Management.
Jun 23, 2025
Darcy WilsonHire
Managing Director, Transportation
Duration Capital Partners → Fengate Asset Management
Fengate named Darcy Wilson to lead its transportation infrastructure strategy from Houston. Wilson was a founding member of Duration Capital Partners after its separation from Oaktree, and previously worked at Oaktree and J.P. Morgan investment banking.
Apr 22, 2025
Warren RollHire
Managing Director, Head of Digital Infrastructure
DigitalBridge → Fengate Asset Management
Fengate hired Warren Roll, based in its Miami office, to lead digital infrastructure; he spent more than 10 years as a senior executive at DigitalBridge leading its fiber and small-cells strategy.
Dec 15, 2025
Freeport Power Limited (440 MW cogeneration facility, Freeport, Texas)
Acquirer · Energy
Buyer Fengate Asset Management (with Ironclad Energy)
Fengate bought the remaining 50% of Freeport Power, taking the partnership to full ownership after an initial 50% stake acquired in November 2024.
Oct 30, 2025
Portfolio of 16 U.S. medical outpatient facilities
Acquirer · Healthcare infrastructure
Buyer Fengate Infrastructure Fund IV (with Montecito Medical)
Acquisition of 16 outpatient facilities in 10 states, taking Fengate's healthcare infrastructure portfolio past 80 facilities and $1 billion in assets.
Sep 11, 2025
Portfolio of 24 U.S. outpatient medical facilities
Acquirer · Healthcare infrastructure
Buyer Fengate-MedCraft joint venture · Seller Undisclosed U.S. not-for-profit healthcare system
Sale-leaseback of 24 outpatient facilities (over 900,000 sq ft) across two states; first acquisition by the Fengate-MedCraft JV.
Jan 23, 2025
Fengate Infrastructure Fund IV
Fund manager / sponsor · Infrastructure
Buyer Institutional investors (pensions, insurers, fund-of-funds)
Final close of Fengate's fourth flagship infrastructure fund above target, its largest fund ever, with about 65% already invested or committed across eight investments by end of 2024.
Fengate's Social Opportunities strategy co-developed a 25-storey mixed-use rental tower in Chicago, anchored by the LiUNA pension fund's first U.S. real estate development investment.
Fengate and LiUNA started construction on a 37-storey, 425-home rental tower in Ottawa's Westboro neighbourhood under the new Fengate Communities brand.
Fengate introduced a Communities brand for its residential development platform.
Fengate and Ironclad Energy moved to 100% ownership of Freeport Power in Texas.
Trade press coverage of Fengate's largest fund close, backed by pensions, insurers and fund-of-funds across North America, Europe and Japan.
Fengate opened its second U.S. office, in Miami.
Fengate Private Equity launched and the firm opened its first U.S. office in Houston.
Fengate launched the LPF Infrastructure Fund LP, starting its infrastructure business.
The firm's history page dates his appointment to 2005 (his bio says he became CEO in 2002).
Louis Serafini Sr. started Fengate as a real estate brokerage and property management business in Hamilton, Ontario.
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GlobeNewswire · Dec 15, 2025 · globenewswire.com
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GlobeNewswire · Sep 11, 2025 · globenewswire.com
GlobeNewswire · Jun 23, 2025 · globenewswire.com
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RENX - Real Estate News Exchange · Jul 20, 2026 · renx.ca
IREI · Jan 24, 2025 · irei.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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Winter 2027
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Posting open Sep to Oct; Interviews Oct to Nov; Offers Nov to Dec.Summer 2027
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Posting open Aug to Nov; Interviews Dec; Offers Jan.Fall 2027
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Posting open May to Jun; Interviews Jun to Jul; Offers Jul to Aug.Programs
Summer Analyst · Canada
An autumn cycle for the following summer, with off-cycle terms alongside it. BSO has not confirmed a timetable for Fengate Asset Management on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
Typical background
GuidanceA Big Six or boutique investment bank, a pension rotation, or asset management.
Large-cap platforms and global multi-strategy funds
Upper mid-market PE, infrastructure, the Maple 8 and large managers
Fengate Asset Management is hereMid-market PE, mid-sized managers, domestic hedge funds and smaller pensions
Small-cap private equity, boutique managers and early-stage VC
Where people go next
GuidanceManaging Partner
Infrastructure
Managing Partner responsible for strategy, investment and asset management of Fengate's infrastructure funds, and a member of the infrastructure, private equity and real estate investment committees. Joined in 2009 from RBC Capital Markets, where he headed the Canadian Infrastructure Advisory Group.
Executive Vice President, Operations and Strategic Initiatives
Leadership
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Summer 2027
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Fall 2027
Apply from May 2027
