Innovation in Private Equity: PICTON Investments Launches Private Equity Fund with Specialized Canadian Asset Manager Morningside Capital Inc.
TORONTO, Feb. 2, 2026 /CNW/ - Picton Mahoney Asset Management ("PICTON Investments") today announced the launch of the PICTON Morningside Private Equity Fund, the firm's first private equity solution. The fund will provide Canadian accredited investors with ongoing access to private equity through an open-end solution focusing on one of private equity's most attractive and compelling sub-strategies through a dedicated structured investment vehicle managed by Morningside Capital Inc. ("Morningside").
The strategy will focus on "trophy asset" general partner ("GP")-led secondary investments, a highly selective segment of the private equity market characterized by mature, high-quality companies with established operating histories and meaningful remaining value-creation potential. The strategy will seek to capture private equity alpha, driven by underwriting discipline, asset quality, and manager selectivity rather than broad market private equity exposure.
PICTON Investments' approach reflects a disciplined and differentiated entry into private equity, combining specialist private-market expertise with its long-standing leadership in alternative strategies. Under this structure, Morningside will lead private equity investment sourcing and underwriting, while PICTON Investments will manage the fund's liquid investments, applying its experience in portfolio construction, risk management, and alternative strategies with the goal of enhancing capital efficiency and overall portfolio outcomes.
"At PICTON Investments, every expansion of our platform starts with a simple question: could this meaningfully improve outcomes for investors?" said Dave Picton, President and Chief Executive Officer of PICTON Investments. "Our entry into private equity is intentionally focused. By partnering with Morningside, a GP-led liquidity solution specialist with deep institutional roots, and combining their alpha-oriented private equity approach with our expertise in managing alternative strategies, we believe we are offering investors a differentiated way to access private markets, one that reflects how we would invest our own capital."
The relationship between PICTON Investments and Morningside has been built over several years through shared experience, direct collaboration, and joint evaluation of GP-led secondary opportunities. Morningside's Managing Partners, Henry Zhang and George Weekes, previously worked together at CPP Investments, where they were part of the team responsible for building and scaling the organization's private equity secondaries program. Rather than pursuing broad exposure across the asset class, the strategy targets a narrow segment where outcomes are driven by asset quality, disciplined underwriting, and strong alignment.
"GP-led, single-asset secondaries represent one of the most compelling sources of private equity alpha today," said Henry Zhang, Founder and Managing Partner at Morningside Capital. "These investments provide access to high-quality businesses at a point in their lifecycle where early execution risk has been reduced, but meaningful upside remains. Partnering with PICTON Investments allows us to pair this private equity focus with a sophisticated portfolio framework, creating a solution that is truly unique in the Canadian retail market."
The PICTON Morningside Private Equity Fund will be available in February 2026 to Canadian accredited investors who wish to diversify their exposure to private equity.
About PICTON Investments
PICTON Investments is a Canadian investment firm with $16.6 billion in assets under management (as at December 31, 2025), recognized for pioneering alternative investment strategies that challenge traditional thinking. Since 2004, we have been helping advisors and investors rethink portfolio construction – moving away from traditional models toward more resilient, diversified solutions. Leveraging deep expertise in quantitative research, fundamental analysis, and authentic hedging strategies, we champion a modern approach designed to deliver more consistent, risk-adjusted returns. Our philosophy is to "Build from the Bear Up," embracing a bear mindset of resiliency, adaptability, and strength to provide Canadians with greater certainty.
About Morningside Capital Inc.
Morningside Capital Inc. is a Canadian private investment firm focused on GP-led liquidity solutions in partnership with high quality private equity managers. The firm brings deep underwriting expertise and longstanding relationships across the global private equity ecosystem.
