Greyhill Capital Partners

Richard Wernham, the founding Managing Partner, leads all investment decisions. The firm operates a flat, principal-driven structure where Wernham personally evaluates and approves each transaction. No investment committee or external advisory board is publicly disclosed.

Greyhill relies on a relationship-based, off-market sourcing model centered on Wernham's direct network in Canadian real estate. The firm targets mid-market transactions that typically fall below the minimum deal size of institutional funds, allowing it to negotiate bespoke terms and structure. This approach is common among lean Canadian private capital firms but limits visibility into the pipeline for outside allocators.

Greyhill operates as both a principal equity investor and a direct lender. The firm acquires transitional commercial and residential properties outright and also originates structured debt against real estate assets. This dual posture lets the firm choose the optimal risk-reward position deal by deal, rather than being constrained to a single investment format.

The firm focuses on value-add and opportunistic commercial and multiresidential properties. Transaction activity includes mid-rise apartment repositioning and structured debt for condo development projects. The strategy targets assets in Greater Toronto, Vancouver, and Montreal — markets with high barriers to entry where repositioning and rezoning can unlock value.

Greyhill appears to invest on a deal-by-deal basis through project-specific limited partnerships and direct whole-loan originations, rather than operating a committed blind-pool fund. This structure gives the firm flexibility to size each investment independently and avoids the pressure to deploy a fixed amount of capital within a set period.

Greyhill has not publicly disclosed its assets under management or total capital deployed. The firm operates with a deliberately low public profile, and no team size or office count beyond its Toronto headquarters is available. The lean structure suggests a smaller balance sheet relative to institutional Canadian real estate managers.

No philanthropic foundation, operating company, or club membership tied to Greyhill Capital Partners or Richard Wernham has been publicly identified. The firm maintains a narrow, focused mandate without visible ancillary vehicles.