Skip to main content

The Globe and Mail

Real estate manager Timbercreek hires Bay Street, Wall Street veterans

The CN Tower stands in the distance of a Bay Street sign displayed in Toronto

Reynard L/Bloomber

One of Canada's fastest-growing real estate investors is adding some heft to its senior ranks, tapping well-known people on Bay Street and Wall Street to fill key roles.

In New York, Timbercreek Asset Mangement Ltd. has hired Brad Trotter as managing director for U.S. and European debt, where he will focus on expanding the company's real estate portfolios outside Canada. Mr. Trotter last served as the president of GE Capital's North American operations.

In Toronto, the firm also hired Cameron Goodnough as managing director for corporate development. Mr. Goodnough previously worked for TD Securities, where he was a managing director for financial institutions. He left the bank in 2015.

Story continues below advertisement

Timbercreek is also beefing up its board of directors by adding investment banker Mark Wellings. Mr. Wellings made his name at GMP Capital, but recently joined Infor Financial.

Most references to Timbercreek in the news media are to its retail-oriented publicly traded fund. However, the company has three lines of business: real estate private equity, mortgage origination, and investing in global real estate stocks.

The goal, according to chief executive officer Blair Tamblyn, is to build a Canadian-headquartered, globally focused alternative asset manager. Founded in 2000, Timbercreek currently manages $5.5-billion and its investor base is 65-per-cent institutional, 35-per-cent retail.

Earlier this year, the company merged its two publicly traded mortgage investment corporations. Before the combination, the two MICs had different strategies – one catered to low loan-to-value mortgages, while the other underwrote riskier loans.

However, the funds mostly drew retail investors and Mr. Tamblyn said institutions never quite embraced these funds, which taught him a lesson. "Regardless of how good your returns are, if you're not out and trying to explain to the market what you're doing … you're not necessarily going to win [investors]," he said.

Report an error Licensing Options
About the Author
Reporter and Streetwise columnist

Tim Kiladze is a business reporter with The Globe and Mail. Before crossing over to journalism, he worked in equity capital markets at National Bank Financial and in fixed-income sales and trading at RBC Dominion Securities. Tim graduated from Columbia University's Graduate School of Journalism and also earned a Bachelor in Commerce in finance from McGill University. More

Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨