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SEC-registered adviser

N•••••••• C•••••• A••••••• L•••

Asset manager (funds and pooled vehicles)Toronto, Ontario, CRD 145014SEC 801-68391websiteIAPD
Latest filing Jul 31, 2026
First filing on the tape Nov 25, 2011 · 23 filings
SEC status approved since Oct 5, 2007
RAUM
$585M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
156
70 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
23 filings and snapshots on the tape
RAUM$585M as of Jul 31, 2026
Nov 25, 2011$31.1M then
HNW client RAUM$0 as of Jul 31, 2026
Dec 23, 2025$0 then
State-registered IARs (5.B.3)0 as of Jul 31, 2026
Nov 25, 20110 then
Employees (5.A)156 as of Jul 31, 2026
Dec 17, 201246 then
Private funds3 as of Jul 31, 2026
Nov 25, 20111 then
RAUM -2.5% over the last fiscal year+15% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jul 31, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$146MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
+10%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, performance-basedreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
Custody
$502,575, 1 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$563M100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
4reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$502,575 for 1 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=0.96 institutional_share=0.0 related_bd=true related_bank=true bd_reps=3.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      4 reported on Schedule D 7.B.(1)
      Owners and control persons
      Schedule A and B, latest filing
      • F••••• M••••••• W•••••• · Managing Director/Directorcontrol
        since 08/2007 · owns less than 5%
      • P•••••••• J••••••• E••••• G••••• · Managing Director/Directorcontrol
        since 12/2008 · owns less than 5%
      • W••••• S•••••• D•••••• · Managing Director And Managing Partner/Directorcontrol
        since 11/2009 · owns less than 5%
      • D••••••••• A••••• R•••• · Trusteecontrol
        since 10/2013 · owns F of T•• D•••••••• F••••• R•••••••• T••••
      • D••••••••• P•••• G•• · Trusteecontrol
        since 10/2013 · owns F of T•• D•••••••• F••••• R•••••••• T••••
      • D•••• G•••• A••••• · Trusteecontrol
        since 05/2023 · owns F of T•• D•••••••• F••••• R•••••••• T••••
      • F••••••• G••••••• J•••• · Trusteecontrol
        since 02/2024 · owns F of T•• D•••••••• F••••• R•••••••• T••••
      • G•••••• K••••••••• M••• · General C••••••, Chief Compliance Officer & Secretary
        since 12/2008 · owns less than 5%
      • L•••••••• J••••••• T•••••••• · Chief Financial Officer
        since 11/2017 · owns less than 5%
      • D••••••••• S•••••• C••••••• · Trustee
        since 03/2018 · owns F of T•• D•••••••• F••••• R•••••••• T••••
      Entity owners
      • N•••••••• C•••••• P••••••• L••• · Direct Owner
        direct · owns 75% or more
      • A•••••••• L••• · Shareholder
        indirect · owns 25% to 50% of N•••••••• C•••••• G•••• L•••
      • I•• F•••••••• I••• · Shareholder
        indirect · owns 75% or more of M•••••••• I•••
      • M•••••••• I••• · Shareholder
        indirect · owns 75% or more of M•••••••• I•••••••••
      • M•••••••• I••••••••• · Partner
        indirect · owns 75% or more of A•••••••• L•••
      • N•••••••• C•••••• G•••• L••• · Shareholder-Voting Special Shares
        indirect · owns 75% or more of N•••••••• C•••••• P••••••• L•••
      • P•••• C••••••••• O• C••••• · Shareholder
        indirect · owns 75% or more of P•••• F•••••••• C••••
      • P•••• F•••••••• C•••• · Shareholder
        indirect · owns 50% to 75% of I•• F•••••••• I•••
      • T•• D•••••••• F••••• R•••••••• T•••• · Shareholder
        indirect · owns 50% to 75% of P•••• C••••••••• O• C•••••
      Related persons
      Schedule D 7.A
      • C••••• L••• A•••• M••••••••• L••••••
        investment advisern
      • C••••• L••• I••••••••• M••••••••• L•••
        investment adviserbankn
      • C•••• A•••• M••••••••• C••• L•••
        investment advisern
      • C•••••• P•••••••• S••••••• I•••
        investment adviserpooled vehicle sponsorn
      • D••••••••• C•••••• P••••••• ••••••• L•••
        pooled vehicle sponsorn
      • G•• A•••• M••••••••• G•••• I•••
        investment advisern
      • G•••• W••• L••• A•• A•••••• I•••••••• C••••••
        pooled vehicle sponsorreal estaten
      • I••• I•••••••• S••••••• I•••
        real estaten
      • I••• I••••••••• M••••••••• L•••
        investment adviserbankpooled vehicle sponsorreal estaten
      • I•••••••• G•••• F•••••••• S••••••• I•••
        broker-dealerreal estaten
      • I•••••••• G•••• S••••••••• I•••
        broker-dealerreal estaten
      • I•••••••• G•••• T•••• C•• L•••
        n
      • I•• I••••••••• C•••••••••
        broker-dealern
      • I•• S••••••••• C•••••••••
        broker-dealern
      • M•••••••• E• F•••• M••••••••• ••••••• L•••
        pooled vehicle sponsorn
      • M•••••••• F•••••••• C•••••• C•••••••••
        pooled vehicle sponsory
      • M•••••••• I••••••••• A••• L••••••
        investment advisernRAUM $2.5B
      • M•••••••• I•••••••••
        investment advisernRAUM $18B
      • M•••••••• I••••••••• E••••• L••••••
        investment adviserbanknRAUM $5.3B
      • M•••• F••• M••••••••• ••••••• L•••
        pooled vehicle sponsorn
      • M••• G• I•••
        pooled vehicle sponsorn
      • N••• I• G• L••
        pooled vehicle sponsorn
      • N••• I• G• L•••
        pooled vehicle sponsorn
      • N•••••••• C•••••• P••••••• G• L•••
        pooled vehicle sponsorn
      • N•••••••• C•••••• P••••••• U• G• L••
        pooled vehicle sponsorn
      • N•••••••• G••••• F••• G• L•••
        pooled vehicle sponsorn
      • N•••••••• N••• I•• G• L••
        pooled vehicle sponsorn
      • N•••••••• N••• I•• G• L•••
        pooled vehicle sponsorn
      • N•••••••• S•••••••• P••••••• I•• G• L•••
        pooled vehicle sponsorn
      • N•••••••• V•••••• C••••••• F••• I•• G• L•••
        pooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 5 to 4
        Dec 23, 2025 to Jul 31, 2026
      • BD registered reps · 4 to 3
        Dec 23, 2025 to Jul 31, 2026
      • Assets in custody · $867,076 to $502,575
        Dec 23, 2025 to Jul 31, 2026
      • Discretionary RAUM · $670M to $585M
        Dec 23, 2025 to Jul 31, 2026
      • Pooled vehicle RAUM · $559M to $563M
        Dec 23, 2025 to Jul 31, 2026
      • RAUM · $670M to $585M
        Dec 23, 2025 to Jul 31, 2026
      • RAUM · $661M to $670M
        Feb 28, 2025 to Dec 23, 2025
      • Advisory employees · 71 to 70
        Feb 28, 2025 to Dec 23, 2025
      • BD registered reps · 5 to 4
        Feb 28, 2025 to Dec 23, 2025
      • Assets in custody · $3.4M to $867,076
        Feb 28, 2025 to Dec 23, 2025
      • Employees · 175 to 156
        Feb 28, 2025 to Dec 23, 2025
      • Discretionary RAUM · $661M to $670M
        Feb 28, 2025 to Dec 23, 2025
      • HNW RAUM · unset to 0.0
        Feb 28, 2025 to Dec 23, 2025
      • Individual RAUM · unset to 0.0
        Feb 28, 2025 to Dec 23, 2025
      • Pension RAUM · unset to 0.0
        Feb 28, 2025 to Dec 23, 2025
      • Pooled vehicle RAUM · $540M to $559M
        Feb 28, 2025 to Dec 23, 2025
      • Financial planning clients · unset to
        Dec 24, 2024 to Feb 28, 2025
      • HQ state · unset to
        Dec 24, 2024 to Feb 28, 2025
      • Advisory employees · 69 to 71
        Jul 10, 2024 to Dec 24, 2024
      • Assets in custody · $5.5M to $3.4M
        Jul 10, 2024 to Dec 24, 2024
      • Employees · 165 to 175
        Jul 10, 2024 to Dec 24, 2024
      • Discretionary RAUM · $644M to $661M
        Jul 10, 2024 to Dec 24, 2024
      • Pooled vehicle RAUM · $523M to $540M
        Jul 10, 2024 to Dec 24, 2024
      • RAUM · $644M to $661M
        Jul 10, 2024 to Dec 24, 2024
      • Discretionary RAUM · $600M to $644M
        Dec 21, 2023 to Jan 28, 2024
      • Pooled vehicle RAUM · $480M to $523M
        Dec 21, 2023 to Jan 28, 2024
      • RAUM · $600M to $644M
        Dec 21, 2023 to Jan 28, 2024
      • Accounts · 6 to 5
        Dec 21, 2022 to Dec 21, 2023
      • Advisory employees · 58 to 69
        Dec 21, 2022 to Dec 21, 2023
      • BD registered reps · 1 to 5
        Dec 21, 2022 to Dec 21, 2023
      • Pooled vehicle clients · 4 to 3
        Dec 21, 2022 to Dec 21, 2023
      • Assets in custody · $7.4M to $5.5M
        Dec 21, 2022 to Dec 21, 2023
      • Employees · 140 to 165
        Dec 21, 2022 to Dec 21, 2023
      • Private funds · 4 to 3
        Dec 21, 2022 to Dec 21, 2023
      • Discretionary RAUM · $643M to $600M
        Dec 21, 2022 to Dec 21, 2023
      • Pooled vehicle RAUM · $521M to $480M
        Dec 21, 2022 to Dec 21, 2023
      • RAUM · $643M to $600M
        Dec 21, 2022 to Dec 21, 2023
      • Accounts · 4 to 6
        Dec 22, 2021 to Dec 21, 2022
      • Advisory employees · 42 to 58
        Dec 22, 2021 to Dec 21, 2022
      • Advisory activities · 1 to 2
        Dec 22, 2021 to Dec 21, 2022
      Signals
      12 dated events
      • James Gregory Fleming (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Dec 24, 2024 · Control person joined · fact
      • Albert Gary Doer (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Dec 21, 2023 · Control person joined · fact
      • Michel Plessis-Belair (Trustee) no longer on Schedule A of N•••••••• C•••••• A••••••• L••• (listed 2022-12-21, absent 2023-12-21)
        Dec 21, 2023 · Control person left · inference
      • Guy Fortin (Trustee) no longer on Schedule A of N•••••••• C•••••• A••••••• L••• (listed 2022-12-21, absent 2023-12-21)
        Dec 21, 2023 · Control person left · inference
      • N•••••••• C•••••• A••••••• L••• reported RAUM $643.3M, up 67% from $384.2M (2021-12-22 to 2022-12-21)
        Dec 21, 2022 · RAUM change · derived
      • J••• A••••• B••••• (Trustee) no longer on Schedule A of N•••••••• C•••••• A••••••• L••• (listed 2019-12-18, absent 2020-11-26)
        Nov 26, 2020 · Control person left · inference
      • Michel Plessis-Belair (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Nov 26, 2020 · Control person joined · fact
      • A••••• G••••••• (Trustee) no longer on Schedule A of N•••••••• C•••••• A••••••• L••• (listed 2019-12-18, absent 2020-11-26)
        Nov 26, 2020 · Control person left · inference
      • Guy Paul Desmarais (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Nov 26, 2020 · Control person joined · fact
      • Roger Andre Desmarais (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Nov 26, 2020 · Control person joined · fact
      • Guy Fortin (Trustee) appeared on Schedule A of N•••••••• C•••••• A••••••• L•••
        Nov 26, 2020 · Control person joined · fact
      • J. Esther Waugh (Trustee) no longer on Schedule A of N•••••••• C•••••• A••••••• L••• (listed 2019-12-18, absent 2020-11-26)
        Nov 26, 2020 · Control person left · inference
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      LINKEDIN.COM/COMPANY/N••••••••-CAPITAL-PARTNERSreportedpublic record, Form ADV, Sep 21, 2026
      Website
      N••••••••CAPITAL.COMreportedpublic record, Form ADV, Sep 21, 2026
      Principal office phone
      1 866 964 4141reportedpublic record, Form ADV, Jul 31, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026