Burlington, ON February 5, 2024 / – Newlook Capital Inc. (“Newlook”) is pleased to announce that Fort McKay Landing has made a major investment in Newlook Industrial and Infrastructure Services Fund III (the “Fund”).
Fort McKay Landing’s strategic investment in the Fund marks a significant milestone in fostering economic development and empowerment within Indigenous communities. Fort McKay Landing, a private equity firm that is wholly owned and controlled by Fort McKay First Nation, brings a unique perspective and commitment to responsible investing. This aligns seamlessly with Newlook’s mission to generate value and growth in the regulated commercial services sector in both the United States and Canada.
The infusion of capital from Fort McKay Landing will play a pivotal role in advancing Newlook Industrial and Infrastructure Services Fund III’s objectives. The Fund is poised to leverage this investment to accelerate its industrial services portfolio companies’ growth, pursue innovative projects, and contribute to the overall enhancement of industrial and infrastructure services.
“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.”
“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.”
Fort McKay began in business in the 1980s by founding and growing oilfield service companies. In the 2000s, the Nation transitioned to joint ventures and today has grown into a private equity investor and capital manager. Since the Nation’s future is in raising, managing and deploying capital, Newlook is a strong partner for FMFN to co-invest with.
À propos de Newlook Capital Inc.
Newlook Capital Inc. est une société de capital-investissement qui gère actuellement le Newlook Dental Services Trust ainsi que les Fonds I, II et III de Newlook Industrial and infrastructure services. Dirigée par des équipes de gestion expérimentées, engagées et alignées, la société détient un portefeuille composé de services industriels au Canada et aux États-Unis, ainsi que de cliniques dentaires exclusivement au Canada. L’engagement de Newlook Capital envers la spécialisation et l’alignement stratégique est au cœur de sa réussite dans l’identification et le développement d’opportunités dans ces secteurs à travers l’Amérique du Nord. Ce communiqué est fourni à titre informatif uniquement et ne constitue pas une offre de vente ni une sollicitation d’achat de valeurs mobilières, et ne doit pas être interprété comme tel. Pour plus d’informations, visitez www.newlookcapital.com.
About Fort McKay First Nation
FMFN is located 60 kilometres north of Fort McMurray, on the shores of the Athabasca River. The Nation manages a business portfolio of 14 entities as an income-focused private equity fund. Income is generated from shareholder distributions in the portfolio companies, as well as debt instruments which the Nation provides to targeted investments. The income the Nation generates from its private equity arm is used to pay for the costs of programs and services such as education and health care in the community of Fort McKay. Only 5-10% of FMFN’s annual budget comes from federal or provincial governments.
