Peregrine Investment Management

What Peregrine Investment Management does

Peregrine Investment Management is a Toronto-based private hedge fund manager founded in June 2004 by Tom Antony. The firm operates the Peregrine Fund, a long-short equity strategy with a long bias, holding approximately 25 securities with primary focus on Canadian equities and secondary U.S. exposure, and sector concentration in technology, financial services, and healthcare. In June 2018 the firm added the Peregrine Trust, a parallel structure that accepts RRSP and TFSA registered investments from accredited investors while mirroring the Fund's portfolio.

The fund is offered exclusively to accredited investors under Canadian securities law and is available only in the provinces of Ontario, Alberta, British Columbia, Nova Scotia, and Quebec. The minimum investment is $150,000 with a one-year hold on initial redemption. Revenue is generated through a 2% annual management fee on assets under management plus a 20% performance fee on returns above an 8% annual hurdle (net of fees). Distribution is direct, with no retail, intermediary, or platform channels.

Operations are run by a small team of three or more, including Founder/President/Fund Manager Tom Antony (CFA, 30+ years experience, prior $2B AUM at RT Capital), Associate Portfolio Manager Chris Lee (CFA, 19+ years experience), and Operations Manager Ginnie Chen (CPA/CMA). The operating stack is anchored by TD Prime Brokerage for custody and execution, SGGG Fund Valuators for fund valuation, and Community Trust for registered plan administration. Reported performance from June 2004 to May 31, 2026 was +1,657.64% cumulative (13.92% annualized), with the fund rated Top 10 in Alternative Strategies (Equity Focused, C$) on FundProfiler.

Name

Peregrine Investment Management

Legal name

Peregrine Investment Management Fund L.P.

Website

https://peregrineinv.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Peregrine Investment Management is a Toronto-based private hedge fund manager operating the long-short Peregrine Fund for accredited investors across five Canadian provinces, with sector focus on Canadian small-cap technology, financial services, and healthcare.

Ownership category

akta.pro rank

Product category

Hedge Fund / Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Fundamental/Discretionary Equity Long/Short (FSAHAAAA)

akta.pro secondary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

Keywords

• Long-short hedge fund
• Alternative investment management
• Small-cap equity investing
• Canadian equity fund
• Accredited investor fund

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Annual management fee of 2% charged on assets under management. This provides recurring revenue based on fund size.
2. Performance Fees: 20% performance fee on returns above an 8% annual hurdle rate. This creates alignment between fund manager and investor interests and provides upside potential during positive market periods.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Peregrine Investment Management operates a long-short hedge fund (the Peregrine Fund) that typically invests in approximately 25 securities, with primary focus on Canadian equities and secondary exposure to U.S. equities, concentrating in technology, financial services, and healthcare sectors. The firm charges a 2% annual management fee and a 20% performance fee on returns above an 8% annual hurdle rate. A separate Peregrine Trust vehicle enables accredited investors to hold the same portfolio within registered accounts (RRSPs and TFSAs).

Product overview

Peregrine Investment Management offers a single core investment product, the Peregrine Fund, alongside its affiliated Peregrine Trust. The Peregrine Fund is a long-short hedge fund that invests in approximately 25 securities, with primary focus on Canadian equities and secondary US exposure, concentrating in technology, financial services, and healthcare sectors. The Peregrine Trust, established in June 2018, extends access to registered account holders (RRSPs and TFSAs) while maintaining an identical portfolio to the core fund. The firm targets accredited investors with a minimum $150,000 investment and 1-year redemption hold period.

Differentiator

Problem solved

Functional benefit

Products and services

• Peregrine Fund A long-short hedge fund with a bias toward long positions, typically investing in approximately 25 securities, focused on Canadian equities with secondary U.S. exposure, concentrating in technology, financial services, and healthcare sectors. Available directly to accredited investors in Ontario, Alberta, British Columbia, Nova Scotia, and Quebec, with a $150,000 minimum investment and a 1-year hold on initial redemption.
• Peregrine Trust A trust structure established in June 2018 to enable accredited investors to hold Peregrine's investment strategy within registered plans (RRSPs and TFSAs), maintaining an identical portfolio to the core Peregrine Fund.

Quantifiable outcome

• +1657.64% total return from June 2004 to May 2026, +13.92% annualized
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Community TrustcoreImplementation/ SI/ Consulting Partner · 1 December 2020Community Trust is the intermediary trust company that administers registered plans (RRSPs and TFSAs) for the Peregrine Trust, enabling registered account holders to access the fund's investment strategy.
• Peregrine TrustcoreStrategic or Co-development Partner · 1 June 2018The Peregrine Trust was established in June 2018 to accept registered investments (RRSPs and TFSAs) from Accredited Investors. The Trust aims to have an identical portfolio of investments to the Fund.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Goodwood Inc. Toronto-based long-short equity manager running concentrated North American portfolios; comparable structure (small team, long-biased, concentrated names) and Canadian HNW distribution model.
• Polar Asset Management Partners: Canadian long-short equity manager with a strong small/mid-cap focus and offshore corporate structure; competing in the same Canadian alternative strategy universe as Peregrine.
• PenderFund Capital Management: Vancouver-based independent Canadian equity specialist with a small-cap value bent; overlaps with Peregrine on Canadian small-cap security selection and Canadian distribution.
• MacNicol & Associates Asset Management: Toronto-based long-short equity manager focused on North American small/mid caps with high-conviction, concentrated portfolios; directly comparable in mandate and structure to Peregrine.
• Aurora Investment Counsel: Toronto-based discretionary investment manager offering long-short and alt strategies to Canadian HNW and institutional clients; comparable in geography, scale and product mix.
• Canso Investment Council: Canadian credit-oriented alternative manager with long-short mandates; comparable as a Canada-headquartered, employee-owned alt manager with accredited-investor distribution.
• Lawrence Park Asset Management: Toronto-based discretionary long-short equity manager focused primarily on Canadian small/mid-cap names with a similar high-conviction, concentrated approach - the closest operational analog to Peregrine.

Broad incumbents

• TD Asset Management: Large Canadian institutional asset manager and Tom Antony's former employer; represents the scaled incumbent benchmark Peregrine aspires to differentiate from in the Canadian equity space.
• Fiera Capital Corporation: Major Canadian independent asset manager offering a full platform including alternative strategies; broader incumbent that competes for the same Canadian HNW and institutional wallet share.

Emerging players

• Galibier Capital Management: Canadian long-short equity specialist; smaller and more focused than Peregrine but competing in the same concentrated Canadian equity long-short niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/peregrine-investment-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

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 Peregrine Investment Management