# Hillcore Group

Hillcore Group is an Asset Manager based in Toronto, Canada.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Toronto, Canada
- **Region:** North America
- **Address:** Toronto, ON, Canada
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** hillcoregroup.com
- **LinkedIn:** https://www.linkedin.com/company/hillcore-group

## Regulatory record

- **Reports private funds:** No

## About

The Hillcore Group is an independent Canadian investment and advisory firm. It invests in life sciences, real estate, seniors living, financial, industrial, and energy sectors. The firm has offices in Toronto, Vancouver, and Montreal.

## Sectors

- Real Estate
- Energy Transition & Renewables
- Industrial Tech
- Media & Entertainment
- Healthcare Services
- Luxury
- Infrastructure

## People

- Edward Kernaghan — Chairman

## Questions

### Who runs investment decisions at Hillcore Group?

Edward Kernaghan serves as Chairman and is the key decision-maker for the firm's acquisitions. His family background in capital markets through Kernaghan Securities shapes the Group's permanent-capital, deal-by-deal co-investment approach. Day-to-day execution is handled by a small Toronto-based team, though the firm does not publicly list its full investment committee.

### How does Hillcore Group source proprietary deal flow?

The firm targets succession-driven and corporate divestiture opportunities in the Canadian mid-market, often sourcing through relationships with founder-owners and regional intermediaries. Its long-hold, permanent-capital structure appeals to sellers seeking a stable owner rather than a fund-bound exit timeline. The emphasis on manufacturing, energy, real estate, and senior living creates a broad funnel across traditional Canadian industries.

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

Hillcore Group does not invest in third-party private equity funds. All capital is deployed directly into controlling stakes of operating companies, with each acquisition capitalized independently through its limited partner base. The firm has never raised a commingled blind-pool fund.

### What is Hillcore's known posture on co-investments alongside external GPs?

Hillcore does not promote co-investment opportunities alongside outside general partners. Its model is proprietary — each deal is sourced, structured, and controlled internally, with capital raised exclusively for that specific transaction from its existing LP network. It does not act as a minority co-investor in other firms' led deals.

## Related profiles

- [Hill Capital Partners](https://altss.com/profile/hill-capital-partners)
- [Hillcrest Capital Partners](https://altss.com/profile/hillcrest-capital-partners)

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Last updated: 2026-06-03T20:00:00.000Z

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