Your Questions. Straight Answers. No Jargon.

$1M in total committed capital. Individual deal minimums are $250K–$500K for SPV co-investments.

This isn't a prestige barrier — it's practical. Direct investing requires enough capital to diversify across 4–6 positions so you aren't overexposed to any single company, industry, or vintage year. Concentrating a small amount into a single illiquid investment would be irresponsible, and we won't structure a portfolio that way.

We'll assess whether direct investing fits your overall financial situation during a free initial consultation. Some prospects discover they're better suited to a hybrid approach — allocating a portion of their portfolio to direct deals while maintaining liquid holdings elsewhere. We'll tell you honestly either way.

Accredited investors with $1M+ in investable capital, a 3–7 year time horizon, and a willingness to engage with the diligence process. Our typical clients include business owners who've had a liquidity event, professionals with significant accumulated savings, family offices managing multi-generational wealth, and corporate pension funds seeking diversification beyond public markets.

You'll receive detailed investment memos, financial models, legal summaries, and risk assessments for every deal. We expect you to read them. Our five-person team is available to walk you through every document, answer questions, and explain our reasoning — but we work best with investors who want to understand what they own.

If you want a hands-off experience where someone else makes every decision behind a curtain, a traditional fund may suit you better. We won't be offended. Learn more about our service model to see if the fit is right.

We listen.

We assess your total assets, liquidity needs, risk tolerance, return objectives, tax situation, and existing exposures across public equities, fixed income, real estate, and any private holdings you may already have. No pitch. No product. Just understanding.

This meeting typically lasts 45–60 minutes and can happen in person at our Ottawa office, over video call, or by phone. There's no cost and no obligation. Our goal is to determine whether direct investing — and Cook Direct Trade specifically — is the right fit for your situation. If it's not, we'll say so.

Ready to schedule? Book your free consultation or call us at (213) 384-6272.

From first conversation to investment-ready status, typically 2–4 weeks. The process involves our initial consultation, completion of KYC (Know Your Client) and AML (Anti-Money Laundering) documentation, an Investment Policy Statement tailored to your goals, and account setup with our custodian partners.

We don't rush this. The onboarding process is where we build the foundation for every investment decision that follows. Getting your risk profile, return targets, and liquidity constraints right upfront means we only present deals that genuinely fit your portfolio. Visit our About page to understand the philosophy behind our approach.

Direct equity co-investments: 1.25% annual management fee on deployed capital (not committed — you don't pay us on idle money sitting in your bank account) plus 10% carried interest above an 8% preferred return hurdle. This means we only share in profits after you've already earned an 8% annualized return.

Credit positions: 1.0%–1.5% one-time structuring fee plus 0.50% annual administration fee. No carry. The structuring fee covers our legal, underwriting, and documentation costs.

Standalone due diligence: $15K–$50K project fee, depending on the complexity of the target company, industry, and geographic scope of the analysis.

Every fee is disclosed in writing before you commit a single dollar. No hidden charges, no trailing commissions, no soft-dollar arrangements. You can see a full breakdown of our service offerings and pricing. Compare this to a typical PE fund charging 2% on committed capital plus 20% carry with no preferred return — the math speaks for itself.

A PE fund asks you to commit to a blind pool. You pay fees on committed capital whether it's deployed or not. You don't know which companies you'll own until the GP decides for you. You receive quarterly reports months after the fact. And you pay 2/20 for the privilege.

We show you each deal individually — company name, financials, diligence materials, legal terms, fee breakdown — before you decide. You invest directly into a specific asset through an SPV (Special Purpose Vehicle) that gives you clear legal ownership and reporting rights. Every position in your portfolio is one you chose.

More control. More transparency. Lower fees. Since our founding in 2010, we've operated this way because we believe investors who are putting up the capital deserve to know exactly where it's going and why. Read what our existing clients say about the difference.

On equity co-investments, yes: 10% carry above an 8% preferred return hurdle. This means you receive 100% of profits until you've achieved an 8% annualized return on your invested capital. Only after that threshold is met do we take 10% of the excess gains. We earn carry only when you earn first.

On credit and real asset positions, no carry — flat fee only. These asset classes have more predictable return profiles, and a carry structure wouldn't align incentives properly.

Every fee detail is documented in the offering memorandum for each deal and disclosed to you during onboarding. No surprises.

No. We don't accept trailing commissions from product manufacturers. We don't receive referral fees from service providers. We don't use soft-dollar arrangements to subsidize our research or operations at your expense.

The fees we publish on our Services page are the fees you pay. Period. We believe fee transparency is a minimum standard, not a differentiator — but the industry has set the bar so low that it still feels unusual. Our Resource Library includes a guide on understanding fee structures if you want to compare our model with traditional alternatives.

15+ years of relationships with PE sponsors, investment banks, business brokers, and direct management teams across Canada and select U.S. markets. Our Managing Partner, along with the rest of our five-person team, has built a sourcing network that generates deal flow individual investors simply cannot access on their own.

We evaluate 300+ opportunities per year. Fewer than 7 get capital. That's a pass rate of roughly 2%, which reflects the rigor of our screening process. Most opportunities are eliminated in the first 48 hours based on industry fit, valuation, management quality, or structural red flags.

Our deal flow comes from three primary channels: proprietary relationships where operators approach us directly, co-investment invitations from PE sponsors we've partnered with on prior transactions, and our own proactive outreach to companies in sectors we track closely — including Canadian mid-market industrials, business services, healthcare services, and essential infrastructure.

Our proprietary 87-point framework covers every dimension of a potential investment: financial statement analysis (three years minimum, with quality-of-earnings adjustments), management team assessment, competitive positioning, customer concentration risk, legal and regulatory mapping, environmental scan, labor market analysis, and valuation benchmarking against comparable transactions.

We conduct site visits to every operating business. We interview management teams, key customers, and — where possible — former employees. We engage third-party specialists for legal, tax, and environmental reviews when warranted.

The deliverable is a comprehensive investment memo with a clear recommendation and a detailed risk matrix that identifies the three to five factors most likely to impair value. You receive this memo before any capital call. Our standalone due diligence service is also available to investors who want our analysis on deals sourced outside our network.

Of course. This is the fundamental difference between our model and a blind-pool fund.

Every deal is presented individually. You review the investment memo, examine the financials, ask questions, and decide whether to participate. No pressure. No obligation. No penalty for passing. You're never locked into a commitment to deploy capital into deals you haven't reviewed.

Some clients participate in every deal we present. Others are highly selective, choosing one or two per year based on sector preferences or portfolio construction goals. Both approaches are fine — we tailor our presentation cadence to your preferences.

On average, we bring 5–7 fully diligenced opportunities to our investor network each year. The timing depends on market conditions, deal flow quality, and the availability of opportunities that meet our underwriting standards.

You'll receive advance notice when a new deal is being prepared, followed by the full investment memo, financial model, and legal summary. We typically provide a 2–3 week decision window, though this can vary based on deal-specific dynamics. We never pressure you to commit quickly — if a deal requires a snap decision, that's usually a sign we should pass.

$340M+ deployed since our founding in 2010. 23 successful exits. Median net IRR of 14.3%. Median gross MOIC of 2.1x. These results span equity co-investments, credit positions, and real asset holdings across multiple economic cycles — including the post-2010 recovery, the 2015–2016 commodity downturn, and the 2020 pandemic.

Cumulative gross loss ratio of 3.2% — two partial write-downs out of 58 total direct investments. Neither resulted in a total loss of capital; structural protections including secured collateral and board governance allowed us to recover a meaningful portion of invested capital in both cases.

You can hear directly from investors who've been with us through multiple cycles on our Testimonials page.

Past performance is not indicative of future results.

It has happened. Two partial write-downs in our history — both in the first five years of operations, both in cyclical industries where macroeconomic headwinds exceeded our base-case assumptions.

We mitigate risk through multiple layers: rigorous upfront diligence using our 87-point framework, diversification across sectors and vintage years, active post-investment monitoring with monthly operational dashboards, and structural protections built into every deal — secured collateral, board seats or observer rights, protective covenants, and clearly defined exit mechanisms.

But direct investing in private markets carries inherent risk, including the possible loss of principal. These are illiquid, concentrated positions in real operating businesses. Any advisor who says otherwise is being dishonest. Our job is to identify, quantify, and mitigate risk — not to eliminate it, which is impossible.

Illiquid. This is the trade-off for higher returns, lower fees, and greater control. Typical hold periods: 3–7 years for equity positions, 1–4 years for credit positions, and 5–10+ years for real assets like infrastructure or resource royalties.

Don't invest capital you'll need within 3–5 years. We assess your liquidity needs during onboarding and will not recommend a direct investment allocation that could put you in a difficult position if unexpected expenses arise.

We build exit pathways into every deal model from day one — including strategic sale, financial sponsor sale, management buyout, and IPO scenarios. In certain cases, we can facilitate secondary market sales to other qualified investors in our network. But these are not guaranteed, and you should enter every position expecting to hold for the full projected term.

Active, hands-on monitoring. Every portfolio company provides monthly financial reporting — revenue, EBITDA, cash flow, and key operating metrics relevant to its industry. Our team reviews these reports in detail and flags any deviations from plan.

Where we hold board seats or observer rights, our team attends quarterly board meetings and participates in strategic decisions. For every position, we produce a quarterly investor update that summarizes performance, market conditions, and any material developments.

You can access your portfolio dashboard, reports, and account statements anytime through our client portal. If you ever have questions between reporting cycles, our team is a phone call away at (213) 384-6272.

Yes. Registered as an Exempt Market Dealer with the Ontario Securities Commission (OSC), Registration No. EMD-2010-4827. Member of the Mutual Fund Dealers Association of Canada (MFDA), Member No. 7493.

For cross-border advisory services, we maintain FINRA broker-dealer reference No. BD-2014-0312 and are SEC-registered under Form ADV, File No. 801-79431.

All advisory services are subject to comprehensive KYC (Know Your Client) and AML (Anti-Money Laundering) compliance programs under Canadian securities regulation. We undergo annual compliance audits and maintain all required capital adequacy reserves. Our regulatory standing is a matter of public record, and we encourage prospective clients to verify our registration status independently.

Yes, and most of our clients do. The majority of investments are structured through holding corporations or family trusts for tax optimization — including access to the small business deduction, capital gains exemptions, and income-splitting strategies where applicable.

Certain investments may also be eligible for registered accounts including RRSPs, TFSAs, or RESPs — subject to Income Tax Act rules on qualified and prohibited investments. The eligibility depends on the specific investment structure and the type of security issued.

We work closely with your tax advisor and legal counsel to determine the optimal holding structure for each investment. If you don't have a tax advisor, we can provide referrals to professionals experienced with private market investments.

T+1 refers to trade-date-plus-one-day settlement, the standard settlement cycle for publicly traded securities on major exchanges. When you buy or sell a stock on the TSX or NYSE, the transaction settles one business day after the trade date.

Direct private investments don't follow T+1 — capital calls and settlements follow deal-specific timelines, typically 5–15 business days from the date you confirm your commitment. Distributions upon exit follow a similar timeline, with proceeds typically arriving within 10–20 business days after closing.

We provide clear instructions and advance notice for every capital call, including exact amounts, wire instructions, and deadlines. You'll never be surprised by a funding request.

Comprehensive reporting tailored to Canadian and cross-border tax requirements. You'll receive annual tax slips (T3, T5, or T5013 depending on the investment structure), quarterly portfolio valuations, capital call and distribution confirmations, and year-end account statements.

For clients investing through corporations or trusts, we provide detailed transaction records that your accountant needs for corporate tax filings. All reporting is available through your secure client portal, and we can deliver hard copies to your office or advisor upon request.

Our Resource Library includes guides on tax-efficient structuring for direct investments that you may find useful during tax planning season.