Private investment

Our mission is to help you find the right business partners to match your goals

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Call us at 1-833-742-0463

Our private investment services

At National Bank Private Investment TM, we are committed to helping Canadian SMEs* thrive by providing patient capital, customized support, and access to a broad business network.

We're a trusted partner that supports Canadian SMEs in reaching their full potential. We provide tailored investment structures, including common and preferred shares, and flexible financing.

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Services for entrepreneurs and business acquisition

We offer equity capital or flexible financing to help you achieve your business growth, transfer, acquisition, and sale projects.

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Investor services

We're committed to offering exclusive and innovative private equity products to help diversify your portfolio.

Why do business with us?

Our private investment team offers a broad network, and technical and operational expertise to help you discover attractive growth opportunities. Working with us unlocks a world of potential.

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Get sound advice from our team of experienced investors.

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Take advantage of a wide range of financing solutions for businesses and shareholders.

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Benefit from an ESG commitment integrated into our value plan.

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Take advantage of innovative and exclusive investment products in a highly sought-after asset class.

Our investment strategy

Our investment strategy is based on long-term partnerships with Canadian SMEs that are distinguished by their competitive positioning, competent management team, and strong growth potential. At National Bank Private InvestmentTM, the investment period varies from 5 to 7 years and involves the following types of transactions:

  • Leveraged buyout (LBO)
  • Management buyout (MBO)
  • Buyout by partners
  • Growth capital
  • Transition capital/succession plan
  • Mergers and acquisitions
  • Market consolidation
  • Recapitalization

Investment strategy and criteria

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Geographic focus in Canada

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Type of investment with minority or majority shares

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Wide range of targeted sectors*

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Ideal company size (EBITDA): $5M to $50M

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Target investment amount: $10M to $60M

Our portfolio of companies by the numbers

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9 partners

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Over CAD$1.1 billion in revenues

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More than 2,400 employees

Our experts

Luc Ménard

Executive Vice President and Head of Private Equity

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With over 30 years of experience, Luc has developed extensive expertise in private equity. At the time of his appointment, he was the Chief Operating Officer of another private equity fund in Quebec. Luc holds a Master of Business Administration degree from Queen's University and a Bachelor of Mechanical Engineering degree from the University of Sherbrooke.

François Duchesneau

Chief Financial Officer and Senior Partner

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François has nearly 27 years of experience in accounting, financial and strategic management, as well as treasury and financing. Before joining NBPI, he was Director of Finance at a large private equity fund with over $8 billion in assets under management. François holds a bachelor's degree in accounting from the Université du Québec à Trois-Rivières, as well as CPA, CA designation.  

Paul Corriveau

Managing Director and Senior Partner

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Paul has been a private equity investor for over 17 years. Prior to NBPI, he worked for a private equity fund in Toronto, managing over $3 billion of AUM. Previously, Paul was active in the Montreal market as an independent sponsor and held senior management positions with a Canadian multinational company, and a major French media group. He holds a BCL and an LLB from McGill’s Faculty of Law and is a graduate of the École Nationale d’Administration of France.

Mario Tougas

Managing Director and Senior Partner

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Mario has over 32 years of experience in the Quebec manufacturing sector. He was associated with the Quebec Manufacturing Fund, a capital investment fund that optimizes the growth potential of Quebec manufacturing companies and held CEO positions in two mid-market manufacturing companies. Mario is a member of the Ordre des ingénieurs du Québec.

Isabelle Lechasseur

Director and Partner

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For the past 25 years, Isabelle has specialized in financing and investing for Quebec SMEs. She has held various positions in major Quebec and international financial institutions. Isabelle also holds a bachelor's degree in finance from HEC Montréal and a master's degree in corporate communications.

Pierre-Luc Lapointe

Director and Partner

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Pierre-Luc (CPA, CFA, EEE) has nearly 16 years of experience in private equity and business valuation. Before joining NBPI, he worked for a large Quebec institutional investor and for a family office that provides growth capital to companies in Quebec. Pierre-Luc is a University of Laval graduate.

Moses Bendayan

Director and Partner

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Moses is a seasoned middle-market M&A professional. Over the past 20 years, he has provided advisory, transaction negotiation, and capital acquisition services. Moses holds degrees in finance and accounting from HEC Montreal, as well as business valuation from York University.

Anne-Marie Piette

Director and Partner

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Anne-Marie (CPA) has 15 years of experience, including 10 years as an international investor in the microfinance field. Prior to joining NBPI, she was a private equity manager for a financial institution. Anne-Marie is a graduate of HEC Montréal.

Julien Cusson

Manager – Due diligence

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Julien has over 10 years of professional experience in accounting and finance. Prior to joining NBPI, he worked for a large international audit and consulting firm, where he assisted corporate and private equity investors in various M&A projects. Julien holds both CPA and CFA designations and is a graduate of HEC Montréal.

Andrew Doucet-McDonald

Senior Analyst

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Andrew has 5 years of professional experience in M&A and Private Equity. Prior to joining NBPI, he worked at an M&A firm where he supported business owners in their divesture or equity-raising process. Andrew holds a master's degree in finance from HEC Montréal.

Shauhan Kataroyan

Senior Analyst

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Shauhan has over 10 years of experience in M&A, private equity, and strategy. Prior to joining NBPI, he was managing the alternative investment portfolio of a Quebec family office by assisting in the launch of new start-up companies. Shauhan is a CFA charter holder and is a graduate of John Molson School of Business.

David Drouin


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David is an analyst specializing in investment and M&A. Prior to joining NBPI, he worked as a special projects and M&A analyst with a diversified energy company where he gained experience in investment and strategy. David holds a Bachelor of Commerce with a major in Finance from McGill University.

Sylvain Vinet

Senior Analyst – Accounting

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Sylvain has over 20 years of accounting and finance experience. Prior to joining NBPI, he worked for more than 12 years in multiple corporate departments, including financial performance, and capital management for a financial institution.

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Little details that matter


  • Experienced managers with articulated business plans and projects
  • Strong competitive position
  • Growth prospects
  • Privately held company with adequate capital structure



  • Start-up or earlier stage
  • Restatement, except for companies already in the fund's portfolio
  • Refinancing of existing bank debts unless the project meets the selection criteria
  • Sale, production or distribution related to sexual exploitation
  • Manufacture and sale of arms, ammunition or controlled goods (non-compliant businesses)
  • Trade with sanctioned or prohibited countries or residents and illegal activities
  • Casinos or other gambling, combat sports, racing or similar activities
  • Production, sale or distribution of tobacco and drugs (including cannabis)
  • Primary agricultural sector
  • Finance and insurance sector
  • Real estate sector
  • Legal services
  • Accounting firms
  • Public relations, advertising and media services
  • Retail sector and similar activities
  • Personal services
  • Any activity whose main subject is protected by the Canadian Charter of Rights and Freedoms (religion, politics, advocacy, etc.)

TM NATIONAL BANK PRIVATE INVESTMENT is a trademark of National Bank of Canada.