# Balefire

Balefire is a Pension Fund based in Québec, Canada.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Québec, Canada
- **Region:** North America
- **Address:** 2325 University Street, Quebec, QC, Canada
- **Founded:** 2025
- **Assets under management:** Undisclosed
- **Website:** ulaval.ca
- **LinkedIn:** https://www.linkedin.com/company/balefire-wealth

## Regulatory record

- **CRD number:** 168733
- **SEC file number:** 801-78506
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/168733

## About

Balefire, LLC was formed in 2025 through the merger of Fuse Partners and Navitas Wealth Advisors. It operates as the vehicle for the Université Laval Pension Plan, a defined benefit plan. The firm deploys capital across public equities, real estate holdings, and farmland. Confirmed positions include NVIDIA Corporation and Amazon.com Inc. It also owns Old Napoleon LLC, a commercial property in Jackson, Mississippi, and R.R. Rice Estate Partners, Arkansas farmland leased to the state corrections department. Geographic exposure centers on the United States and Canada. Balefire employs 65 professionals. It maintains affiliated entities including VisionPoint Advisory Group and Kientz Financial Services. September 2025 marked the acquisition of a new equity position in IREN Limited. The firm structure combines pension plan administration with registered investment adviser activities following the 2025 merger. Ownership of operating businesses such as Navitas Wealth Advisors distinguishes its governance from standard pension vehicles.

## Sectors

- Diversified

## People

- Mark M. Oswald — Chief Compliance Officer and Partner
- Daniel Swenson — Investment Advisor Representative and Partner
- Mark Greene — Investment Advisor Representative and Partner
- Jason Simpson Hester — Investment Advisor Representative and Partner
- William August Kientz III — Investment Advisor Representative and Partner

## Questions

### Who runs investment decisions at Balefire?

Mark M. Oswald acts as Chief Compliance Officer and Partner. Daniel Swenson, Mark Greene, Jason Simpson Hester, and William August Kientz III serve as Investment Advisor Representatives and Partners.

### Does Balefire participate in fund commitments or only direct deals?

The firm pursues both fund-of-funds and co-investment strategies. It holds direct ownership in real estate entities and public equities.

### What asset classes does Balefire hold?

Holdings include public equities such as NVIDIA and Amazon, commercial real estate via Old Napoleon LLC, and farmland through R.R. Rice Estate Partners.

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- [Atl Capital](https://altss.com/profile/atl-capital)
- [Philippos Asset Management](https://altss.com/profile/philippos-asset-management)

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Last updated: 2026-07-08T21:03:56.539Z

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