Periscope Capital

What Periscope Capital does

Periscope Capital Inc. is a Toronto-based, privately held multi-strategy alternative asset manager founded in 2009 by Jamie Wise (CEO) and Stephen Elgee (CIO). The firm runs two investment vehicles — the Periscope Multi-Strategy Fund and the Periscope Target Return Fund — that deploy capital across six core arbitrage strategies spanning Canadian and U.S. equity arbitrage (SPACs and closed-end funds), Canadian fixed income and credit, event-driven opportunities, convertible debenture arbitrage, option-based strategies, and capital markets arbitrage in IPOs and follow-on offerings. Capital is sourced from qualified investors and institutions via direct relationships and dedicated investor portals, with no public marketing or retail distribution.

The firm's operational backbone combines human capital from senior banks (Citigroup, BMO Capital Markets, Goldman Sachs, Moore Capital, TD Securities, Manulife) with internally developed technology — proprietary trading systems, risk-management software, and custom cloud/on-premises infrastructure built by a dedicated Director of Technology and software engineering staff. The firm is registered with the Ontario Securities Commission, complies with PIPEDA privacy requirements, and maintains industry affiliations with AIMA, PMAC, and SBAI.

Revenue mechanics follow standard alternative asset management economics: management fees on committed/invested capital plus performance fees on returns, with specific fee schedules and minimums not publicly disclosed. As a private firm, AUM, revenue, ownership structure, and detailed financials are not disclosed. Growth is evidenced primarily through 15 years of incremental team expansion and recent senior hires in compliance, business development, and quantitative research, suggesting a measured scaling posture rather than aggressive expansion.

Name

Periscope Capital

Legal name

Periscope Capital Inc.

Website

https://periscopecap.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Periscope Capital is a Toronto-based multi-strategy alternative asset manager founded in 2009 that runs two arbitrage-focused funds (Multi-Strategy and Target Return) for institutional and qualified investors, deploying capital across Canadian and U.S. equity, fixed income, event-driven, convertible, option-based, and capital-markets arbitrage strategies.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Strategy — Single-Manager, Multi-PM (FSAHAFAB)

akta.pro secondary industry

Multi-Strategy — Multi-Asset Tactical / Opportunistic Trading (FSAHAFAJ)

Keywords

• Alternative asset management
• Multi-strategy arbitrage
• Convertible debenture arbitrage
• Event-driven investing
• Institutional investment funds

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Distribution channels1 record

Marketing channels2 records

Core offering

Periscope Capital is a Toronto-based multi-strategy alternative asset manager that provides qualified investors access to two flagship hedge funds—the Periscope Multi-Strategy Fund and the Periscope Target Return Fund. These funds deploy capital across niche-oriented arbitrage strategies spanning Canadian and U.S. markets, including SPAC and closed-end fund arbitrage, fixed income arbitrage, event-driven strategies, convertible debenture arbitrage, option-based strategies, and capital markets arbitrage in IPOs and follow-on offerings.

Product overview

Periscope Capital is a multi-strategy alternative asset manager offering two primary fund products: the Periscope Multi-Strategy Fund and the Periscope Target Return Fund. These funds deploy capital across six core arbitrage strategies spanning Canadian and U.S. equity arbitrage (SPACs and closed-end funds), Canadian fixed income and credit, event-driven opportunities, convertible arbitrage, option-based strategies anticipating volatility regime shifts, and capital markets arbitrage in IPOs and follow-on offerings. The funds are accessible to qualified investors through dedicated investor portals.

Differentiator

Problem solved

Functional benefit

Products and services

• Periscope Multi-Strategy Fund A multi-strategy alternative investment fund offering qualified investors exposure to a diverse array of arbitrage strategies across Canadian and U.S. markets, including equity arbitrage (SPACs and closed-end funds), fixed income, event-driven, convertible arbitrage, option-based, and capital markets arbitrage. Accessible to qualified investors through a dedicated investor portal.
• Periscope Target Return Fund A target return alternative investment fund providing qualified investors access to Periscope's arbitrage strategies with a defined return objective, distributed through a separate investor portal.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights5 records

Direct peers

• PenderFund Capital Management: Canadian boutique asset manager running alternative and long-only funds. Comparable to Periscope as a specialized Canadian alternatives platform with institutional-grade governance and multi-strategy offerings.
• Picton Mahoney Asset Management: Toronto-based multi-strategy alternative asset manager running arbitrage, equity, fixed income, and event-driven funds for institutional and high-net-worth investors. Most direct comparable to Periscope given overlap in Canadian arbitrage strategies and multi-PM structure.
• Mulvihill Capital Management: Toronto-based investment manager specializing in structured equity, arbitrage, and income-oriented strategies. Comparable to Periscope in its Canadian-arbitrage specialization and institutional client base.
• Arrow Capital Management: Toronto-based alternatives manager offering multi-strategy and market-neutral funds to Canadian institutional clients. Comparable to Periscope in strategy breadth, Canadian focus, and institutional LP base.
• Polar Asset Management Partners: Toronto-based alternatives manager with event-driven, merger arb, and special situations strategies. Comparable to Periscope in its event-driven and arbitrage focus with a small, specialized team.

Broad incumbents

• Millennium Management: Global multi-strategy hedge fund with multiple PM pods running diverse arbitrage and trading strategies. Comparable to Periscope at the multi-strategy/multi-PM conceptual level, but operates at radically larger scale and broader geographic scope.
• Manulife Investment Management: Global asset management arm of Manulife with significant Canadian alternatives and fixed income capabilities. Comparable to Periscope via overlap in fixed income and Canadian public credit; vastly larger and broader.
• Fiera Capital: Large Canadian asset manager offering alternatives, equities, fixed income, and private wealth solutions. Comparable to Periscope as a Canadian alternatives competitor but at much larger scale and broader mandate.
• Cl Investments (CI Financial): One of Canada's largest independent investment management firms offering alternative and multi-asset funds. Comparable to Periscope via its alternatives lineup, but operates at significantly larger scale across many strategies.

Regional players

• K2 Asset Management: Australia-based long/short and multi-strategy alternatives manager. Comparable to Periscope in multi-strategy boutique structure and institutional client focus, though regional to APAC rather than Canada/US.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/periscope-capital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Periscope Capital