Participated · Series E · Jun 2026

Nesto is a Montreal-based fintech that provides online consumer mortgages and business financing products. The company has more than $80 billion in mortgages under administration and has done $37 billion in originations this year. It generates more than $300 million in annualized revenue and has raised $470 million in capital to date. Nesto is incorporating generative AI into internal operations and products and intends to use new funding to further that work. The firm aims to reduce mortgage underwriting times dramatically — targeting as little as two minutes from a current one-day process — while keeping decisioning auditable and overseen by human underwriters. Nesto plans to expand its business-to-business arm by offering AI-powered products to other financial institutions and is focused on the Canadian market without plans to expand to the United States.

Participated · Equity · Nov 2025

FNZ delivers an end-to-end wealth-management platform that combines custody, trading, and digital advice tools for banks, insurers, asset managers, and advisers. Its technology handles $2.1 trillion of assets, a five-fold increase since 2020, underscoring rapid adoption across North America, Europe, Asia-Pacific, and Africa. The company has recently deepened its technology roadmap through a strategic partnership with Microsoft and the rollout of proprietary AI products aimed at boosting advisor productivity. FNZ is also focused on operational excellence, having completed a Section 166 review in the UK after upgrading its governance, risk, and delivery frameworks. Fresh capital will be funneled into product development, talent acquisition, and continued global expansion while bolstering the firm’s balance sheet. Executives highlight a renewed emphasis on client delivery, operational discipline, and profitable growth as the company scales its wealth-management modernization efforts worldwide.

Led · Debt Financing · May 2025

Founded in 2015 and headquartered in Denver, Colorado, Redaptive has built an Infrastructure Monetization platform that turns traditionally CapEx-heavy energy upgrades into performance-based service contracts. The company structures long-term Energy-as-a-Service (EaaS) agreements covering lighting, HVAC, controls, and other modernization projects for multi-site Fortune 500 commercial and industrial customers across several U.S. states. By bundling tailored financing with turnkey installation and measured outcomes, Redaptive provides budget certainty while lowering energy and maintenance costs for its clients. The firm leverages a data-driven underwriting process to evaluate project development, installation quality, and ongoing performance against forecasts. This approach enables Redaptive to aggregate verified payment streams into diversified portfolios that appeal to capital-markets investors. Looking ahead, the company aims to scale its model through repeat securitizations, creating a template for broader institutional participation in sustainable infrastructure finance.

Participated · Debt Financing · Feb 2025

Surf Internet is a fiber-optic internet provider focused on delivering high-speed connectivity to rural and underserved areas in Illinois, Indiana, and Michigan. Headquartered in Elkhart, Indiana, the company also maintains offices in multiple Midwestern cities and employs more than 350 people. Surf’s core product is a growing fiber-to-the-home network designed to offer reliable, high-bandwidth service. Management plans to accelerate the build-out of this network, improve service reliability, and enhance customer experience across additional underserved communities in the Midwest. The firm has demonstrated strong operating performance and consistent subscriber growth, which has enabled access to the capital markets through its inaugural asset-backed securitization. Proceeds from recent financing will bolster financial flexibility and fund continued network expansion, positioning Surf as a scaled, super-regional fiber platform.

Led · Debt Financing · Jul 2024

Vantage Data Centers builds and operates hyperscale data center campuses for the world’s leading AI and cloud providers. The company delivers capacity across North America, EMEA and Asia Pacific and emphasizes speed and scale in deployment and operations. Vantage is accelerating its APAC expansion after securing a $1.6 billion investment to scale its regional platform, led by affiliates of GIC and ADIA with DigitalBridge participating. Planned growth includes the acquisition of Yondr Group’s 300MW+ Sedenak campus in Johor, Malaysia, which will be known as JHB1 and add significant hyperscale capacity. With the Johor addition, Vantage’s APAC operational and planned IT capacity will reach 1GW across Australia, Malaysia, Japan, Taiwan and Hong Kong. The company highlights sustainability features such as direct-to-chip liquid cooling and EDGE certification pursuit, and expects the investment and acquisition to close in Q4 2025. Vantage Data Centers builds and operates hyperscale data center campuses and provides capacity to cloud and AI customers. The company raised €640 million in euro-denominated securitized term notes plus €80 million in unfunded Variable Funding Notes in this transaction. Proceeds will refinance four fully leased German data centers (two in Offenbach/Frankfurt and two in Berlin) and support capital expenditures and broader corporate initiatives. Vantage said the refinancing is intended to accelerate its EMEA expansion and speed time to market to meet mounting AI and cloud demand. The notes have an anticipated five-year repayment date and carry ratings (Class A-2: A-; Class B: BBB) from Standard & Poor’s and Scope Ratings. Over the last year Vantage has raised €2.2 billion in new debt financing for its EMEA platform and previously completed the first-ever EMEA data center ABS in sterling. Vantage develops and operates hyperscale data center campuses across North America, EMEA and APAC, providing power, cooling, protection and connectivity for large cloud and enterprise customers. In 2024 the company expanded into new markets (including Ohio and Ireland), broke ground on six campuses, and opened 11 facilities. Planned and existing global capacity surpassed 2.6GW across 35 campuses in 14 countries and 21 markets. The company secured more than $13 billion in debt and equity investments in 2024 to fund its expansion. Vantage’s global headcount exceeded 1,700 employees at year end, a 32% increase year over year. The company is pursuing net zero carbon emissions by 2030 and reported a Total Recordable Incident Rate of 0.26 in 2024. Vantage powers, cools, protects and connects the technology of hyperscalers, cloud providers and large enterprises and develops and operates data centers across five continents including North America, EMEA and Asia Pacific. The company focuses on delivering reliable, efficient and sustainable hyperscale data center campuses in flexible environments that can scale with market demand. Vantage’s EMEA portfolio includes approximately 2.5GW of IT capacity that is operational or in development. The announced capital will expand the company’s investor base and capital sources to support delivery of additional high-quality, sustainable campuses. The company said GIC and MEAG will invest a combined €1.4 billion ($1.5 billion USD) into its EMEA data center platform. The transactions are expected to be finalized in the first quarter of 2025, subject to certain closing conditions and regulatory approvals. Vantage Data Centers is a leading global provider of hyperscale data centers. The company is expanding its Québec City Data Center Campus (QC2) with construction of a third facility currently underway by Pomerleau Inc. Once fully developed, the campus will total 925,000 square feet (86,000 square metres) and generate 86MW of combined IT capacity; the new facility will add 16MW of IT capacity. The expansion is intended to meet rising demand for cloud services across Québec and Eastern Canada and to serve Vantage's global top-tier customers. CDPQ committed USD 75 million (CAD 103 million) as part of senior financing to support the project, and the broader USD 130 million (CAD 179 million) credit facility was structured and underwritten by Societe Generale. The new facility is expected to be completed in Spring 2025.