EXV
Building real assets.
A privately-held investment and trading house with two operating lines: real estate merchant banking and physical metals trading.
Debt and equity, across the stack.
We act as principal, committing our own capital across the capital structure of residential and mixed-use real estate in the Greater Toronto Area, from raw land through to stabilization.
Secured lending.
First mortgages, bridge loans and mezzanine paper, secured against the underlying real property. Terms are structured to the requirements of each transaction rather than to a fixed credit box.
Ownership positions.
Where a project requires capital rather than credit, we invest as an equity partner in projects. Debt and equity are underwritten by the same group, so a transaction can move between the two as circumstances require.
Physical metals trading.
A physical desk in high-end alloys and critical metals, traded globally.
Supply critical materials for the future.
The grades we trade are specification-critical: the assay determines whether a lot can be used at all. We take title and carry the material on our own book, booked through our own operating corporations.
Engine and airframe material in nickel superalloys and titanium.
Corrosion-resistant alloys for process vessels, piping and valves.
Wear-resistant and hardfacing alloys for processing equipment.
Turbine, downhole and power-generation components.
Inconel, Hastelloy, Monel and Nimonic grades.
Equiaxed, directionally solidified and single-crystal superalloys.
Stellite, Haynes and MP-grade cobalt alloys.
Commercially pure grades through 6-4 and 6-2-4-2.
Austenitic, duplex and precipitation-hardening grades.
Nickel and nickel-cobalt refinery intermediates.
M and T series high-speed, hot work and cold work grades.
Tungsten carbide and tungsten-nickel-iron heavy alloys.
Eight classes, in wrought, cast and refinery form.
Specification, unit size and consistency are agreed before pricing.
Customers served.
We supply foundries, melters and physical trading desks worldwide.
Investment and sand casting houses.
VIM, VAR and EAF mills.
Physical desks and other metal traders.
Driven by values.
Over the years we have consistently helped stakeholders achieve their objectives, whether by financing real estate projects or providing supply-chain solutions. We are privately owned, entrepreneurial and able to move quickly as situations arise.
Thinking in probabilities.
EXV is derived from expected value: the probability-weighted average of every outcome a decision can produce. It is a standard measure in statistics and in finance, and it is how we assess an opportunity. We weigh the full range of outcomes and the likelihood of each, rather than the case we would prefer.
The framework draws on experience across real estate, commodities and quantitative markets. Different assets, one method of underwriting them.