Elkwater Capital

Greg Boler, the managing partner and founder, leads all investment decisions. The firm operates with a lean structure, relying on Boler's direct oversight rather than a formal investment committee. All credit approvals and structuring decisions flow through him.

The firm sources deals through a regional network of boutique investment banks, accounting firms, and corporate finance advisors in Western Canada. Rather than competing in broad auction processes, Elkwater targets privately negotiated, bilateral transactions. This origination model emphasizes relationship-driven, off-market opportunities.

Legally, Elkwater is a single-family office managing Greg Boler's private capital. Operationally, however, it functions like a direct-lending private credit fund — originating, underwriting, and holding loans on its own balance sheet. The key difference is its permanent capital base, with no external limited partners or fund-life constraints.

Elkwater focuses on the lower middle market, typically writing loans in the C$2 million to C$10 million range. The firm targets established, owner-operated businesses needing capital for growth, acquisitions, or recapitalizations. It holds positions to maturity rather than syndicating or trading them.

Elkwater's mandate centers on direct lending and does not appear to emphasize third-party private equity or credit fund commitments. The firm's strategy is built around originating and holding its own bilateral loans rather than allocating to external managers.