The Kilmer Brownfield Equity Fund is the first private equity fund in Canada dedicated exclusively to the redevelopment of brownfields. The $100 million fund is set up as a limited partnership with both institutional and private investors.
The Fund acquires and redevelops qualifying brownfield sites. The redevelopment process consists of the remediation of the site and often the rezoning to a higher-and-better end land use. When the redevelopment is completed, the restored site is sold to an end-user, who will complete the development process through the vertical build-out of the site. The Fund targets investments in the $5 million to $15 million range.
The Fund is managed by a team of experienced brownfield specialists and includes leaders in the Canadian brownfield industry. The collaboration of the different specialty areas represented within the Fund's management team—which include environmental risk management, real estate planning and development and finance—is a critical component of the Fund's ability to manage risk and unlock value in its brownfield redevelopment projects.
The Fund is sponsored by Kilmer Van Nostrand Co. Limited (KVN), a private investment holding company in Toronto. KVN brings to the Fund three generations of construction industry experience and 25 years of private equity investing experience, including private equity fund management.