On Monday, Slate Asset Management announced a minority investment from Goldman Sachs Asset Management's Petershill Program. This is great news, so here's a copy of the full press release that went out.
Toronto, August 19, 2019 – Slate Asset Management L.P. (Slate), a leading alternative asset management platform with a focus on real estate and real assets, today announced a passive, non-voting minority equity investment from Goldman Sachs Asset Management’s Petershill program, creating a strategic relationship with one of the world’s leading investment managers and positioning Slate for future success. The transaction will have no impact on the control or decision making of Slate. The day-to-day operations and management of Slate will remain unchanged.
The investment provides capital that Slate will use to enhance its platform and increase its GP investments in current and future businesses and investment vehicles, further strengthening the firm’s alignment with its clients and investing partners.
The investment accelerates Slate’s goal to build the leading independent alternative investment platform in real estate and real assets. As part of the transaction, Slate Founders Blair and Brady Welch have made a long-term commitment to the business.
To date Slate has completed over $11 billion of transactions across Canada, the U.S. and Europe, through multiple vehicles spanning co-investments with global institutional partners, private equity funds and publicly-traded Real Estate Investment Trusts.
On Monday, Slate Asset Management announced a minority investment from Goldman Sachs Asset Management's Petershill Program. This is great news, so here's a copy of the full press release that went out.
Toronto, August 19, 2019 – Slate Asset Management L.P. (Slate), a leading alternative asset management platform with a focus on real estate and real assets, today announced a passive, non-voting minority equity investment from Goldman Sachs Asset Management’s Petershill program, creating a strategic relationship with one of the world’s leading investment managers and positioning Slate for future success. The transaction will have no impact on the control or decision making of Slate. The day-to-day operations and management of Slate will remain unchanged.
The investment provides capital that Slate will use to enhance its platform and increase its GP investments in current and future businesses and investment vehicles, further strengthening the firm’s alignment with its clients and investing partners.
The investment accelerates Slate’s goal to build the leading independent alternative investment platform in real estate and real assets. As part of the transaction, Slate Founders Blair and Brady Welch have made a long-term commitment to the business.
To date Slate has completed over $11 billion of transactions across Canada, the U.S. and Europe, through multiple vehicles spanning co-investments with global institutional partners, private equity funds and publicly-traded Real Estate Investment Trusts.
“This investment in our platform is an endorsement of our people, our strategy and our future,” said Brady Welch, co-founder of Slate. “For our investors and our team, this is excellent news; our strategy and model remain the same, and we can now benefit from our new relationship with Goldman.”
Blair Welch, co-founder of Slate, added that: “Since we started Slate nearly 15 years ago, we have showed that we can build tremendous value by providing our investors with a unique perspective, focusing on the fundamentals of the assets we acquire and delivering hands-on management that is innovative and creative. With our new relationship with Goldman Sachs, Brady and I are enthusiastic about what all of us at Slate can accomplish together over the next decade and beyond.”
“Slate Asset Management is an incredibly innovative, dynamic real-estate focused alternative asset management platform,” said Robert Hamilton Kelly, Managing Director, Goldman Sachs Asset Management Petershill program. “We are big believers in the strategy, the team and the model. We are excited to partner with Slate as they work to capture the opportunities before them.”
About Slate Asset Management
Slate Asset Management L.P. is a leading real-estate focused alternative investment platform with over $6 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
About Goldman Sachs Asset Management’s (GSAM) Petershill Program
The Petershill program is managed by GSAM’s Alternative Investments & Manager Selection (AIMS) Group, which provides investors with investment and advisory solutions across leading private equity funds, hedge fund managers, real estate managers, public equity strategies and fixed income strategies. With investments in over 20 asset management firms, the Petershill program provides strategic capital to mid-sized asset management firms and has raised over $5 billion of commitments since inception. GSAM is one of the world’s leading investment managers with more than $1 trillion in assets under supervision globally as of June 30, 2019.
I have one more note to share this week about Junction House and then I promise we’ll be back to regular scheduled programming. Below is a copy of the press release that went out yesterday afternoon. It includes a few more renderings for the project.
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“This investment in our platform is an endorsement of our people, our strategy and our future,” said Brady Welch, co-founder of Slate. “For our investors and our team, this is excellent news; our strategy and model remain the same, and we can now benefit from our new relationship with Goldman.”
Blair Welch, co-founder of Slate, added that: “Since we started Slate nearly 15 years ago, we have showed that we can build tremendous value by providing our investors with a unique perspective, focusing on the fundamentals of the assets we acquire and delivering hands-on management that is innovative and creative. With our new relationship with Goldman Sachs, Brady and I are enthusiastic about what all of us at Slate can accomplish together over the next decade and beyond.”
“Slate Asset Management is an incredibly innovative, dynamic real-estate focused alternative asset management platform,” said Robert Hamilton Kelly, Managing Director, Goldman Sachs Asset Management Petershill program. “We are big believers in the strategy, the team and the model. We are excited to partner with Slate as they work to capture the opportunities before them.”
About Slate Asset Management
Slate Asset Management L.P. is a leading real-estate focused alternative investment platform with over $6 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
About Goldman Sachs Asset Management’s (GSAM) Petershill Program
The Petershill program is managed by GSAM’s Alternative Investments & Manager Selection (AIMS) Group, which provides investors with investment and advisory solutions across leading private equity funds, hedge fund managers, real estate managers, public equity strategies and fixed income strategies. With investments in over 20 asset management firms, the Petershill program provides strategic capital to mid-sized asset management firms and has raised over $5 billion of commitments since inception. GSAM is one of the world’s leading investment managers with more than $1 trillion in assets under supervision globally as of June 30, 2019.
I have one more note to share this week about Junction House and then I promise we’ll be back to regular scheduled programming. Below is a copy of the press release that went out yesterday afternoon. It includes a few more renderings for the project.
Here's the front "gallery" area. The artwork hanging on the wall is by local artist, Leeay Aikawa. Her work is terrific. You can see this space as you walk along Dundas Street West.
Here is the model suite pavilion and main reception area (evening shot). The bar area is absurdly long. It was designed to accommodate beers from Indie Ale House down the street.
Dialogue 38, the designers of the space, really wanted the model suite to be a "pavilion" -- something akin to Mies van der Rohe's Barcelona Pavilion. So here's the ramp that takes you up and inside.
Finally, here's the model suite. The kitchen is by Scavolini. And the backsplash is a penny tile.
The sales gallery is located at 2720 Dundas Street West and is now open every day of the week except Tuesdays. The hours are 1PM to 7PM during the week and 12PM to 5PM on the weekends.
October 11, 2018 (TORONTO) – After unveiling plans for a Studio Gang-designed tower at Yonge and St. Clair earlier in the summer, Slate Asset Management enters the fall market with a new mid-rise condo offering in the Junction. Designed by acclaimed Canadian architects, superkül, and emerging local interior design firm, Dialogue 38, Junction House further solidifies Slate’s approach of leading with design and city building when it comes to residential development.
“We invest in designers because we believe in design innovation,” says Brandon Donnelly, VP of Development for Slate Asset Management. “For us, good design moves beyond aesthetics and actually solves problems and creates value for people. We want to empower each of our collaborators to come up with bold ideas, as well as think beyond our individual projects and consider the broader community.“
Sited at 2720 Dundas St W, just as the road begins to bend, Junction House is conceived as a new gateway into one of Toronto’s most vibrant neighbourhoods. The ambitious design brief challenged superkül and Dialogue 38 to define a Canadian brand of minimalism that at the same time reflects the historic material palette and creative energy of the Junction community.
“One of our inspirations was picking up on Scandinavian and Japanese approaches to minimalism, but through the lens of the Junction. What would that look like? How could we make sure our homegrown brand of minimalism is seen as approachable and in keeping with the neighbourhood?” says Donnelly. “We also really wanted to look at multi-storey suites – which eventually became The House Collection – and explore how we could replicate the single-family experience in a boutique mid-rise format,” he adds, citing the influx of families into the Junction and the need for new residential options in the city more broadly.
“The building was designed from the inside out,” says Andre D’Elia, Principal at superkül. “We focused on the suites because, ultimately, that is where people are going to live and spend most of their time. We didn’t just design a nine-storey building, we designed 144 homes that occupy the same built form.”
When it came to the exterior cladding, D’Elia says the focus was on reflecting the immediate context, while elaborating on the details. “We immediately thought of red brick, which is prevalent in the neighbourhood, and ended up cladding the first five storeys of the building with it. In order to add a sense of movement we staggered and angled the brick columns to play with light and shadow. We’re also introducing some old-world brick-coursing to add visual interest and mirror the local context.”
Dialogue 38 was tapped for the interiors after Donnelly visited a café designed by the firm in the east end of downtown. “Their work is what motivated us to reach out, because it seemed to get the Canadian minimalist sensibility we were after,” explains Donnelly.
Bennett Lo, Founder of Dialogue 38, says his approach was to focus on delivering design that would last. “We’re all influenced by trends and lifestyle, but our designs need to stand up against time. How do you produce something that is going to have immediate appeal and provide its own kind of interest, without feeling dated in a few years? The idea was to strip the design back and focus on the essentials, while at the same time incorporating aspects of the area. The suites and common areas will have smooth concrete ceilings and warm touches of wood throughout – and the lines are clean and open.”
The nine-storey building will also feature an expansive lobby that doubles as a co-working space, as well as a gym that draws on the warm materials of the suites and common areas. Lo says the design of the amenity space is optimized to encourage active use. “We focused on the amenities that we know people use, and spent our energy crafting spaces that embody the spirit of the building. The benefit of a boutique mid-rise is the opportunity to extend your living space in to the amenity spaces, and provide moments of social engagement in the building.”
“We’re a short walk to the UP Express station at Bloor, which can take you downtown in less than 10 minutes. That proximity gives us an opportunity to have a dialogue between the Junction and the rest of the city. The proposed sign marks the Junction’s location and lets you know where you’re going, but also, where you should be,” says Donnelly.
Junction House offers 1, 2, and 3-bedroom suites, as well as its signature House Collection, ranging from 500 sq. ft. to over 1,500 sq. ft. and starting from the $400s. To register visit: JunctionHouse.ca
Press Contact:
Vakis Boutsalis, kg&a
Vakis@kga-inc.com / 416 537 0954 / 416 578 1741
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $6.0 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
Here's the front "gallery" area. The artwork hanging on the wall is by local artist, Leeay Aikawa. Her work is terrific. You can see this space as you walk along Dundas Street West.
Here is the model suite pavilion and main reception area (evening shot). The bar area is absurdly long. It was designed to accommodate beers from Indie Ale House down the street.
Dialogue 38, the designers of the space, really wanted the model suite to be a "pavilion" -- something akin to Mies van der Rohe's Barcelona Pavilion. So here's the ramp that takes you up and inside.
Finally, here's the model suite. The kitchen is by Scavolini. And the backsplash is a penny tile.
The sales gallery is located at 2720 Dundas Street West and is now open every day of the week except Tuesdays. The hours are 1PM to 7PM during the week and 12PM to 5PM on the weekends.
October 11, 2018 (TORONTO) – After unveiling plans for a Studio Gang-designed tower at Yonge and St. Clair earlier in the summer, Slate Asset Management enters the fall market with a new mid-rise condo offering in the Junction. Designed by acclaimed Canadian architects, superkül, and emerging local interior design firm, Dialogue 38, Junction House further solidifies Slate’s approach of leading with design and city building when it comes to residential development.
“We invest in designers because we believe in design innovation,” says Brandon Donnelly, VP of Development for Slate Asset Management. “For us, good design moves beyond aesthetics and actually solves problems and creates value for people. We want to empower each of our collaborators to come up with bold ideas, as well as think beyond our individual projects and consider the broader community.“
Sited at 2720 Dundas St W, just as the road begins to bend, Junction House is conceived as a new gateway into one of Toronto’s most vibrant neighbourhoods. The ambitious design brief challenged superkül and Dialogue 38 to define a Canadian brand of minimalism that at the same time reflects the historic material palette and creative energy of the Junction community.
“One of our inspirations was picking up on Scandinavian and Japanese approaches to minimalism, but through the lens of the Junction. What would that look like? How could we make sure our homegrown brand of minimalism is seen as approachable and in keeping with the neighbourhood?” says Donnelly. “We also really wanted to look at multi-storey suites – which eventually became The House Collection – and explore how we could replicate the single-family experience in a boutique mid-rise format,” he adds, citing the influx of families into the Junction and the need for new residential options in the city more broadly.
“The building was designed from the inside out,” says Andre D’Elia, Principal at superkül. “We focused on the suites because, ultimately, that is where people are going to live and spend most of their time. We didn’t just design a nine-storey building, we designed 144 homes that occupy the same built form.”
When it came to the exterior cladding, D’Elia says the focus was on reflecting the immediate context, while elaborating on the details. “We immediately thought of red brick, which is prevalent in the neighbourhood, and ended up cladding the first five storeys of the building with it. In order to add a sense of movement we staggered and angled the brick columns to play with light and shadow. We’re also introducing some old-world brick-coursing to add visual interest and mirror the local context.”
Dialogue 38 was tapped for the interiors after Donnelly visited a café designed by the firm in the east end of downtown. “Their work is what motivated us to reach out, because it seemed to get the Canadian minimalist sensibility we were after,” explains Donnelly.
Bennett Lo, Founder of Dialogue 38, says his approach was to focus on delivering design that would last. “We’re all influenced by trends and lifestyle, but our designs need to stand up against time. How do you produce something that is going to have immediate appeal and provide its own kind of interest, without feeling dated in a few years? The idea was to strip the design back and focus on the essentials, while at the same time incorporating aspects of the area. The suites and common areas will have smooth concrete ceilings and warm touches of wood throughout – and the lines are clean and open.”
The nine-storey building will also feature an expansive lobby that doubles as a co-working space, as well as a gym that draws on the warm materials of the suites and common areas. Lo says the design of the amenity space is optimized to encourage active use. “We focused on the amenities that we know people use, and spent our energy crafting spaces that embody the spirit of the building. The benefit of a boutique mid-rise is the opportunity to extend your living space in to the amenity spaces, and provide moments of social engagement in the building.”
“We’re a short walk to the UP Express station at Bloor, which can take you downtown in less than 10 minutes. That proximity gives us an opportunity to have a dialogue between the Junction and the rest of the city. The proposed sign marks the Junction’s location and lets you know where you’re going, but also, where you should be,” says Donnelly.
Junction House offers 1, 2, and 3-bedroom suites, as well as its signature House Collection, ranging from 500 sq. ft. to over 1,500 sq. ft. and starting from the $400s. To register visit: JunctionHouse.ca
Press Contact:
Vakis Boutsalis, kg&a
Vakis@kga-inc.com / 416 537 0954 / 416 578 1741
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $6.0 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
