2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
2015
2016
2018
2023
2023
2024
Launched the Equiton Residential Income Fund Trust (Apartment Fund)
2016
Launched the Equiton Real Estate Income and Development Fund
2018
Submitted its first Global Real Estate Sustainability Benchmark (GRESB) assessment
2023
Announced its partnership with Concordia University
2023
Reached close to 200 employees
2024
Equiton is a private equity real estate firm with a track record of providing clients with exposure to the investment benefits of the multifamily segment. Portfolios are constructed with a risk-adjusted return profile objective of capital preservation coupled with income and growth potential through, and across, markets and economic cycles.
Company Profile
13,700 +
Number of Investors
$ 1.08 billion
Assets under management
40
Number of properties managed
195 +
Number of employees
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
20+
2021 - Current
195 +
40
Aaron Pittman
Head of institutional investments at Equiton
Aaron Pittman and Equiton’s forward-thinking strategy in private real estate bring a crucial layer of stability amid Canada’s turbulent economic climate
“It can be a challenging, years-long process. Not all firms will have the patience to follow through on institutional strategy, but for those that do, the results are transformational”
Aaron Pittman,
Equiton
“Institutional investors are at the top of the sophistication curve, a trajectory that is continuously expanding. To stay relevant and become a suitable partner for large institutional capital pools, adopting an outside-looking-in perspective is essential”
Aaron Pittman,
Equiton
Share
Accolades
Media
Milestones
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2011
Equiton’s strategic shift toward institutional investment
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
Pittman’s career spans over two decades on the institutional side of the business. His unique path through various roles within the sector has equipped him with a comprehensive understanding of institutional asset-gathering. This breadth of experience allows him to act as a “translator” among specialized teams and functions, facilitating effective communication and strategy implementation.
Pittman’s approach to career progression deviated from the more traditional siloed ladder; rather, he sought exposure across all facets of the institutional business, valuing the diversity of perspectives over a linear climb.
“I consciously pursued a varied experience – ranging from business development/investor relations to client servicing, consultant relations, and content management. This wide-ranging exposure allowed me to serve as a link among highly specialized teams, facilitating communication between participants who often speak ‘different languages',” Pittman says.
“The diversity of my roles over the past 20-plus years may have been somewhat atypical, often earning me the moniker ‘Swiss Army knife,’ largely attributable to my broad perspective. This versatility has proven particularly beneficial in my role at Equiton, where the ability to wear multiple hats and possess wide-ranging expertise is essential.”
Pittman's breadth of expertise empowers institutional investors with tailored strategies and comprehensive insights, facilitating informed decision-making and optimal portfolio performance.
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
Pittman highlights that Canada is currently facing a generation-spanning housing crisis. In recent years, Canada has distinguished itself on the global stage with population growth that far outpaces even its fastest-growing G7 peers. This dynamic, coupled with an entrenched shortfall of housing supply, has reshaped Canadian housing as one of the least affordable markets in the world. It could be several decades before supply catches up to surging demand, says Pittman, making housing a critical issue for all Canadians.
In the face of these challenges, Equiton takes a proactive stance as a leader in the real estate sector, contributing positively by increasing supply – developing multi-family residences and bringing new inventory to market. Pittman notes that this important effort is expected to grow easier with Canadian governments at all levels focusing political will on encouraging the development of new housing stock; however, he emphasizes that addressing the housing crisis will ultimately require the active collaboration of private-sector entities like Equiton.
“Recent policy changes are a welcome start, but more needs to be done to reduce unnecessary development charges, shorten timelines, and get shovels in the ground,” says Pittman. “Canada must let home builders do what they do best: build homes.”
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
During her time at Fundserv, Adams has had the opportunity to work on projects that have left an impact on both her and the financial industry. One of the ones she’s most proud of began this past year as a result of the COVID-19 pandemic.
“Serving the purpose we do, as this technology platform that connects people in the industry, one of the most exciting things has been listening to our members and responding with solutions,” Adams says.
“Early in the lockdown, we started Industry Forums, a space where members could connect on resolutions to common issues caused by the changing work environment.”
Company Profile
YEARS IN THE INDUSTRY OR EXPERIENCE
Tenure at current position
IN PARTNERSHIP WITh
Fast Facts
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Share
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Accolades
Media
Milestones
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2011
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Company Profile
YEARS IN THE INDUSTRY OR EXPERIENCE
Tenure at current position
IN PARTNERSHIP WITH
Fast Facts
Read on
2015
2016
2018
2023
2023
2024
Founded in 2015
2015
Launched the Equiton Residential Income Fund Trust (Apartment Fund)
2016
Launched the Equiton Real Estate Income and Development Fund
2018
$1 billion in assets under management
2023
Submitted its first Global Real Estate Sustainability Benchmark
(GRESB) assessment
2023
Reached close to 200 employees
2024
Equiton's Milestones
Dynamic expertise leading to optimal solutions
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Dynamic expertise leading to optimal solutions
Published May 20, 2024
Find out more
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“Recent policy changes are a welcome start, but more needs to be done to reduce unnecessary development charges, shorten timelines, and get
Pittman highlights that Canada is currently facing a generation-spanning housing crisis. In recent years, Canada has distinguished itself on the global stage with population growth that far outpaces even its fastest-growing G7 peers. This dynamic, coupled with an entrenched shortfall of housing supply, has reshaped Canadian housing as one of the least affordable markets in the world. It could be several decades before supply catches up to surging demand, says Pittman, making housing a critical issue for all Canadians.
In the face of these challenges, Equiton takes a proactive stance as a leader in the real estate sector, contributing positively by increasing supply – developing multi-family residences and bringing new inventory to market. Pittman notes that this important effort is expected to grow easier with Canadian governments at all levels focusing political will on encouraging the development of new housing stock; however, he emphasizes that addressing the housing crisis will ultimately require the active collaboration of private-sector entities like Equiton.
Equiton’s role in addressing supply issues
Since its inception in 2015, Equiton has shown tremendous growth in the Canadian real estate investment landscape. With a strategic focus on private real estate, the firm has not only expanded its operational footprint but has also significantly strengthened its investment portfolio, echoing a commitment to delivering tangible value to its stakeholders.
As the head of institutional investments, Pittman says aligning capital raise activities and business development strategies with the evolving needs of institutional investors is crucial.
“Institutional investors are at the top of the sophistication curve, a trajectory that is continuously expanding. To stay relevant and become a suitable partner for large institutional capital pools, adopting an outside-looking-in perspective is essential,” emphasizes Pittman.
“This approach is necessary because many managers lose sight of the fact that their contribution is merely a segment of the plan sponsor’s entire ecosystem. We become a component of a larger mechanism. Keeping pace with the ever-changing landscape requires a mindset driven by intellectual curiosity.”
Pittman’s career spans over two decades on the institutional side of the business. His unique path through various roles within the sector has equipped him with a comprehensive understanding of institutional asset-gathering. This breadth of experience allows him to act as a “translator” among specialized teams and functions, facilitating effective communication and strategy implementation.
Pittman’s approach to career progression deviated from the more traditional siloed ladder; rather, he sought exposure across all facets of the institutional business, valuing the diversity of perspectives over a linear climb.
“I consciously pursued a varied experience – ranging from business development/investor relations to client servicing, consultant relations, and content management. This wide-ranging exposure allowed me to serve as a link among highly specialized teams, facilitating communication between participants who often speak ‘different languages',” Pittman says.
“The diversity of my roles over the past 20-plus years may have been somewhat atypical, often earning me the moniker ‘Swiss Army knife,’ largely attributable to my broad perspective. This versatility has proven particularly beneficial in my role at Equiton, where the ability to wear multiple hats and possess wide-ranging expertise is essential.”
Pittman's breadth of expertise empowers institutional investors with tailored strategies and comprehensive insights, facilitating informed decision-making and optimal portfolio performance.
Equiton, a leading Canadian private equity real estate firm, is in the midst of a strategic shift toward institutional investments that it believes will tap into the growing global appetite for Canadian real estate among diverse pools of capital available worldwide. Equiton’s transition reflects a mature understanding of market dynamics and growth opportunities beyond the limited retail sphere.
At the forefront of this transition is Aaron Pittman, Equiton’s head of institutional investments. Pittman’s career has seen him help guide a number of firms’ evolution from largely retail-oriented shops to the institutional world. “It can be a challenging, years-long process,” says Pittman. “Not all firms will have the patience to follow through on institutional strategy, but for those that do, the results are transformational.”
Pittman outlines the stark dichotomy between the retail and institutional investment spaces, highlighting the global scale and vast potential of the latter.
Equiton’s strategic shift toward institutional investment
Spotlight
Institutional investment goals
Equiton’s commitment to its investors and expanding Canadians’ knowledge of real estate, has led to an exciting new collaboration with the John Molson School of Business at Concordia University. This partnership will foster innovative research into the landscape of real estate investment in Canada.
“This partnership represents a fusion of the best of both worlds: Equiton’s investment prowess and Concordia’s academic expertise in the development of large language models and machine learning. This collaboration allows us to explore new territories uniquely. It’s an approach I believe may be unprecedented in our industry,” Pittman says.
“The research is being conducted by Dr. Erkan Yönder and his team. We’ve seen some of the early work he’s done and are absolutely delighted and looking forward to coming insights. So far, we've only scratched the surface of what we can achieve from this relationship, and we’ve already begun the preliminary planning to broaden and deepen the research.
“The integration of artificial intelligence with academic models removes emotion from the equation. While perspectives can be clouded by unconscious biases, particularly in real estate, our focus is to minimize emotional influence. At Equiton, we like to say our approach to real estate investing is passion without emotion. We prioritize due diligence and are willing to walk away from investments when financials don’t make sense.”
Such initiatives not only bolster Equiton's strategic capabilities but also signify a forward-thinking approach to addressing the complex dynamics of real estate markets.
Partnership with Concordia University
Institutional investors are increasingly setting their sights on best-in-class assets characterized by supply and demand fundamentals and durable cash flows. These criteria form the bedrock of investment strategies that aim to mitigate risk while ensuring steady, predictable returns.
Equiton, with its strategically diversified portfolio spanning 17 key regions, carefully selects properties that align with these criteria, ensuring they are positioned for long-term growth and resilience.
Equiton's focus on managing properties in vibrant, growth-oriented regions ensures that its portfolio is attractive for its current cash flow generation, offering peace of mind to investors looking for alternative investment horizons.
The firm is not only strategic but client-focused, Pittman adds. “True customer focus requires a detachment from your own goals with a singular focus on an exploration of a solution for the client. A clear and open two-way dialogue always results in the most meaningful solution fostering long-term partnerships, and long-term thinking underpins our approach.”
The outlook at Equiton
years in the industry or experience
20+
IN Partnership with
2023
Announced its partnership with Concordia University
2023
shovels in the ground,” says Pittman. “Canada must let home builders do what they do best: build homes.”
Read on
Toronto, Ont.
BAsed In
2021 - Current
Tenure at current position
25
Years of Experience
Aaron Pittman and Equiton's foward-thinking strategy in private real estate bring a crucial layer of stability amid Canada's turbulent economic climate
Head of institutional investments at Equiton
Aaron Pittman
Institutional investment goals
Equiton’s role in addressing supply issues
Equiton’s commitment to its investors and expanding Canadians’ knowledge of real estate, has led to an exciting new collaboration with the John Molson School of Business at Concordia University. This partnership will foster innovative research into the landscape of real estate investment in Canada.
“This partnership represents a fusion of the best of both worlds: Equiton’s investment prowess and Concordia’s academic expertise in the development of large language models and machine learning. This collaboration allows us to explore new territories uniquely. It’s an approach I believe may be unprecedented in our industry,” Pittman says.
“The research is being conducted by Dr. Erkan Yönder and his team. We’ve seen some of the early work he’s done and are absolutely delighted and looking forward to coming insights. So far, we've only scratched the surface of what we can achieve from this relationship, and we’ve already begun the preliminary planning to broaden and deepen the research.
“The integration of artificial intelligence with academic models removes emotion from the equation. While perspectives can be clouded by unconscious biases, particularly in real estate, our focus is to minimize emotional influence. At Equiton, we like to say our approach to real estate investing is passion without emotion. We prioritize due diligence and are willing to walk away from investments when financials don’t make sense.”
Such initiatives not only bolster Equiton's strategic capabilities but also signify a forward-thinking approach to addressing the complex dynamics of real estate markets.
Partnership with Concordia University
Institutional investors are increasingly setting their sights on best-in-class assets characterized by supply and demand fundamentals and durable cash flows. These criteria form the bedrock of investment strategies that aim to mitigate risk while ensuring steady, predictable returns.
Equiton, with its strategically diversified portfolio spanning 17 key regions, carefully selects properties that align with these criteria, ensuring they are positioned for long-term growth and resilience.
Equiton's focus on managing properties in vibrant, growth-oriented regions ensures that its portfolio is attractive for its current cash flow generation, offering peace of mind to investors looking for alternative investment horizons.
The firm is not only strategic but client-focused, Pittman adds. “True customer focus requires a detachment from your own goals with a singular focus on an exploration of a solution for the client. A clear and open two-way dialogue always results in the most meaningful solution fostering long-term partnerships, and long-term thinking underpins our approach.”
Partnership with Concordia University
Institutional investors are increasingly setting their sights on best-in-class assets characterized by supply and demand fundamentals and durable cash flows. These criteria form the bedrock of investment strategies that aim to mitigate risk while ensuring steady, predictable returns.
Equiton, with its strategically diversified portfolio spanning 17 key regions, carefully selects properties that align with these criteria, ensuring they are positioned for long-term growth and resilience.
Equiton's focus on managing properties in vibrant, growth-oriented regions ensures that its portfolio is attractive for its current cash flow generation, offering peace of mind to investors looking for alternative investment horizons.
The firm is not only strategic but client-focused, Pittman adds. “True customer focus requires a detachment from your own goals with a singular focus on an exploration of a solution for the client.
A clear and open two-way dialogue always results in the most meaningful solution fostering long-term partnerships, and long-term thinking underpins our approach.”
Equiton’s role in addressing supply issues
Partnership with Concordia University
Partnership with Concordia University
Pittman highlights that Canada is currently facing a generation-spanning housing crisis. In recent years, Canada has distinguished itself on the global stage with population growth that far outpaces even its fastest-growing G7 peers. This dynamic, coupled with an entrenched shortfall of housing supply, has reshaped Canadian housing as one of the least affordable markets in the world. It could be several decades before supply catches up to surging demand, says Pittman, making housing a critical issue for all Canadians.
In the face of these challenges, Equiton takes a proactive stance as a leader in the real estate sector, contributing positively by increasing supply – developing multi-family residences and bringing new inventory to market. Pittman notes that this important effort is expected to grow easier with Canadian governments at all levels focusing political will on encouraging the development of new housing stock; however, he emphasizes that addressing the housing crisis will ultimately require the active collaboration of private-sector entities like Equiton.
“Recent policy changes are a welcome start, but more needs to be done to reduce unnecessary development charges, shorten timelines, and get
shovels in the ground,” says Pittman. “Canada must let home builders do what they do best: build homes.”
Since its inception in 2015, Equiton has shown tremendous growth in the Canadian real estate investment landscape. With a strategic focus on private real estate, the firm has not only expanded its operational footprint but has also significantly strengthened its investment portfolio, echoing a commitment to delivering tangible value to its stakeholders.
As the head of institutional investments, Pittman says aligning capital raise activities and business development strategies with the evolving needs of institutional investors is crucial.
“Institutional investors are at the top of the sophistication curve, a trajectory that is continuously expanding. To stay relevant and become a suitable partner for large institutional capital pools, adopting an outside-looking-in perspective is essential,” emphasizes Pittman.
“This approach is necessary because many managers lose sight of the fact that their contribution is merely a segment of the plan sponsor’s entire ecosystem. We become a component of a larger mechanism. Keeping pace with the ever-changing landscape requires a mindset driven by intellectual curiosity.”
Institutional investment goals
Pittman’s career spans over two decades on the institutional side of the business. His unique path through various roles within the sector has equipped him with a comprehensive understanding of institutional asset-gathering. This breadth of experience allows him to act as a “translator” among specialized teams and functions, facilitating effective communication and strategy implementation.
Pittman’s approach to career progression deviated from the more traditional siloed ladder; rather, he sought exposure across all facets of the institutional business, valuing the diversity of perspectives over a linear climb.
“I consciously pursued a varied experience – ranging from business development/investor relations to client servicing, consultant relations, and content management. This wide-ranging exposure allowed me to serve as a link among highly specialized teams, facilitating communication between participants who often speak ‘different languages',” Pittman says.
“The diversity of my roles over the past 20-plus years may have been somewhat atypical, often earning me the moniker ‘Swiss Army knife,’ largely attributable to my broad perspective. This versatility has proven particularly beneficial in my role at Equiton, where the ability to wear multiple hats and possess wide-ranging expertise is essential.”
Pittman's breadth of expertise empowers institutional investors with tailored strategies and comprehensive insights, facilitating informed decision-making and optimal portfolio performance.
Equiton, a leading Canadian private equity real estate firm, is in the midst of a strategic shift toward institutional investments that it believes will tap into the growing global appetite for Canadian real estate among diverse pools of capital available worldwide. Equiton’s transition reflects a mature understanding of market dynamics and growth opportunities beyond the limited retail sphere.
At the forefront of this transition is Aaron Pittman, Equiton’s head of institutional investments. Pittman’s career has seen him help guide a number of firms’ evolution from largely retail-oriented shops to the institutional world. “It can be a challenging, years-long process,” says Pittman. “Not all firms will have the patience to follow through on institutional strategy, but for those that do, the results are transformational.”
Pittman outlines the stark dichotomy between the retail and institutional investment spaces, highlighting the global scale and vast potential of the latter.
Spotlight
Published MAY 20, 2024
Equiton’s strategic shift toward institutional investment
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Copyright © 1996-2024 KM Business Information Canada Ltd.
About
Directories
Resources
Investments
Pensions
Benefits
News
RSS
Sitemap
Privacy
Contact us
About us
External contributors
Authors
Terms & Conditions
Terms of Use
Subscribe
People
Companies
Copyright © 1996-2024 KM Business Information Canada Ltd.
RSS
Sitemap
Privacy
Contact us
About us
External contributors
Authors
Terms & Conditions
Terms of Use
Subscribe
People
Companies
Copyright © 1996-2024 KM Business Information Canada Ltd.
About
Directories
Resources
Investments
Pensions
Benefits
News