The Fort McKay First Nation’s private equity fund is making a significant investment.
Fort McKay Landing, Canada’s first private equity firm owned by a First Nation, is announcing a major investment in a Newlook Capital Industrial Service Fund. The fund focuses on industrial services, real estate, and infrastructure.
“Investing in Newlook Capital Fund III helps us expand our reach into the regulated commercial services sector in the US and Canada,” said Chief Raymond Powder of Fort McKay First Nation.
“Expansion into these geographic markets is the next step in growing our fund from its current $550 million Assets Under Management (AUM) to our target of $1 billion.”
Newlook says the infusion of capital from Fort McKay Landing will play a pivotal role in advancing their fund’s objectives.
We are delighted to welcome Fort McKay Landing as a strategic partner in Newlook Industrial and Infrastructure Services Fund III,” stated Elroy Gust, CEO at Newlook Capital Inc.
“This is just the beginning of a long-term commitment and partnership that will provide the opportunity for reinvestment for years to come.”
The Fort McKay First Nation oversees a business portfolio encompassing 14 ventures as an income-focused private equity fund. The First Nation uses revenue from their investments to aid in programs and services such as education and health care in the community.