Third Eye Capital
Tel: (416) 601-2270
Fax: (416) 981-3393
Email Third Eye Capital

Brookfield Place
Bay Wellington Tower
181 Bay Street, Suite 2830
Toronto, Ontario, M5J 2T3

CEO Insights

The latest credit outlook survey of the International Association of Credit Portfolio Managers (“IACPM”), a global membership of more than 100 banks, insurance companies and asset managers, indicates that recession fears have eased. The IACPM’s index was at a neutral -3.3 in Q1-2019 compared to...

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The biggest surprise in 2018 that caught nearly every energy investor and trader off-guard was the steep 30% decline in oil prices at the beginning of the fourth quarter. Not surprisingly, this large pullback has resulted in a surge of bearish calls for a collapse...

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September 2018 marked the tenth anniversary of the collapse of Lehman Brothers, when the last credit cycle came to an abrupt and violent end. The rebound in credit markets has been spectacular and gave birth to a new asset class, private debt, that continues to...

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The smart money, according to S&P Global, is gearing up for a downturn. The longest credit cycle since 1985 is in extra time and there are many signals, outside of the internal credit market fundamentals that we have revealed in previous letters, which justify high...

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“We are having a party at Apollo these days”, Jim Zelter, co-President. Apollo Global Management at 2018 Milken Institute Global Conference. Similar to the end of the 1990s expansion, investors today are juxtaposing a strong global economy with a nearly 10-year-old bull market in risk assets...

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Here's what we saw. Coffrages Synergy (Coffrages) is a recognized and highly sought-after construction leader in Quebec for concrete foundations and versatile structural forms. It is led by an ambitious, result-oriented team motivated to grow beyond private-sector Quebec contracts. Others didn’t see it. We did. Transaction Overview Third...

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IFRS9 was conceived in the wake of the financial crisis to address criticism of the prevailing impairment model that allowed banks and other lenders to delay recognition of losses. The goal of the new accounting standard is for lenders to have more appropriate levels of...

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On November 1, 2017, an accounting asteroid hit the balance sheets of Canadian banks. Although markets have known about this momentous event for years, the reaction has been muted because most participants are underestimating its impact. The metaphorical asteroid, called IFRS9, is a new accounting...

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The macroeconomic backdrop of steady, synchronized global growth, low inflation, and ongoing corporate profitability has kept investor optimism high and blue skies for riskier assets like credit. We are in the eighth year of the post-GFC economic recovery, one of the longest expansions on record,...

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Ten percent of loans issued in the first half of 2017 to finance M&A transactions had EBITDA multiples of seven times, according to S&P LCD. However, this is understated by the aggressive practice by so many lenders to add-back savings and synergies based on future...

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Domestic (Canadian) Advisor registration form:

If you are an advisor that distributes or is interested in distributing a fund advised by Third Eye Capital Management Inc. you can register to request a call or meeting. You will be asked to provide information to confirm your qualifications to invest in or distribute the funds. This brief registration process allows us to conform to applicable securities laws and to obtain some basic information about you. Once we have qualified and approved your registration, we will get in contact with you to schedule a meeting.

    Personal Information

    I consent to receive information from Third Eye Capital.

    Domestic (Canadian) Investor registration form:

    If you are an existing or prospective accredited investor that distributes or is interested in distributing a fund advised by Third Eye Capital Management Inc. you can register to request a call or meeting. You will be asked to provide information to confirm your qualifications to invest in or distribute the funds. This brief registration process allows us to conform to applicable securities laws and to obtain some basic information about you. Once we have qualified and approved your registration, we will get in contact with you to schedule a meeting.

      Personal Information

      YesNo
      I consent to receive information from Third Eye Capital.

      International Investor registration form:

      For US persons
      If you are an existing or prospective accredited investor or an advisor that distributes or is interested in distributing a fund advised by Third Eye Capital Management Inc. you can register to request a call or meeting. You will be asked to provide information to confirm your qualifications to invest in or distribute the funds. This brief registration process allows us to conform to applicable securities laws and to obtain some basic information about you. Once we have qualified and approved your registration, we will get in contact with you to schedule a meeting.

        Personal Information

        I consent to receive information from Third Eye Capital.

        Address Information

        Investor Information

        An IndividualA Company
        U.S.Other (specify)
        Fund of FundsFamily OfficeBankOther (specify)
        $

        Instructions for the following sections: Individuals please answer Part A of Sections I and II; Institutions please have an authorized person answer Part B of Sections I and II.

        Section I - Accredited Investor Threshold Questions:

        Part A - For Individuals:

        1. I certify that I have an individual net worth, or my spouse and I have a combined net worth in excess of $1,000,000.

        2. I certify that I am highly a sophisticated investor who routinely invests sums of $250,000 or more.

        Part B - For Institutions:

        1. The submitter certifies that it is a bank, insurance company, registered investment company, business development company, or small business investment company.

        2. The submitter certifies that it is a charitable organization, corporation or partnership with assets exceeding $5 million, and that was not formed to invest the Fund.

        3. The submitter certifies that it is a corporation, partnership or trust with assets of at least $5 million, that was not formed to invest in the Fund, and whose purchases are directed by a sophisticated person.

        4. The undersigned certifies that all of its equity owners are “accredited investors” as defined in United States Securities and Exchange Commission Rule 501(a) and who can satisfy the higher criteria for the same set forth in Section I, Part A above.

        Section II - Qualified Purchaser Questions:

        Part A - For Individuals:

        1. I certify that I own not less than $1,000,000 in securities investments.

        Part B - For Institutions:

        1. The undersigned certifies that it is a bank, insurance company, registered investment company, business development company, or small business investment company

        2. The undersigned certifies that it is a "family owned company" (as defined below) that owns not less than $5,000,000 in securities investments. A "family owned company" is defined as a company that is owned directly or indirectly by or for two or more natural persons who are related as siblings or spouse (including former spouses), or direct lineal descendents by birth or adoption, spouses of such persons, the estate of such persons, or foundations, charitable organizations, or trust established by or for the benefit of such persons

        3. The undersigned certifies that it is a trust that was not formed to invest in the Fund, the trustee or decision-making authority of which, and every person contributing assets to the same, is a “Qualified Purchaser” under one of the other definitions of this Section

        4. The undersigned certifies that it is a person acting for its own account or for the accounts of other Qualified Purchasers who in the aggregate own and invest on a discretionary basis at least $5,000,000 in securities investments.

        Questionnaire Submission:

        Thank you for your patience in completing this questionnaire.

        If you have any questions, please contact Chris Vokes, VP of Investor Relations at Third Eye Capital:

        T 416-601-2270 ext 242
        E chris@thirdeyecapital.com