Key Takeaways
- • Kensington Capital Advisors completed structural modernization of Kensington Private Equity Fund following March 25, 2026 unitholder special meeting, with proposals approved at the required two-thirds (66⅔%) threshold.
- • Eamonn McConnell (Senior Managing Director and Chief Investment Officer) and Richard Nathan (Senior Managing Director) transitioned to Vice Chair roles at Kensington Capital Partners Limited, with McConnell stepping down from the Investment Committee.
- • Ash Lawrence, Executive Chair of Kensington and Head of AGF Capital Partners, joined the four-member Investment Committee, which now includes Lawrence, Thomas Kennedy (CEO), and Richard Nathan (Vice Chair), replacing McConnell.
- • The amended fund structure, effective March 26, 2026, addresses liquidity profile alignment with underlying private equity investments and modernizes redemption and incentive structures.
- • Kensington Capital Partners, founded in 1996, has committed over $1 billion to private equity investments across successive programs and remains open for new investor capital.
Summary
Kensington Capital Advisors Inc., trustee and manager of Kensington Private Equity Fund, announced the successful completion of governance and structural changes following a special meeting of unitholders on March 25, 2026. The proposals were approved with votes exceeding the required two-thirds approval threshold, representing a significant modernization of the fund's operational framework and investment oversight structure.
The approved changes include amended and restated declarations of trust and management agreements, which became effective on March 26, 2026. According to the Manager, these structural modifications were designed to enhance alignment between the Fund's liquidity profile and its underlying private equity holdings, while modernizing redemption and incentive structures to better reflect contemporary fund management practices.
The most significant governance change involves leadership transitions at Kensington Capital Partners Limited. Eamonn McConnell, who served as Senior Managing Director and Chief Investment Officer, and Richard Nathan, Senior Managing Director, both transitioned to Vice Chair positions. In these roles, both executives will continue providing strategic guidance to the firm while stepping back from day-to-day oversight responsibilities. McConnell's departure from the Investment Committee marks a formal shift in the fund's decision-making structure.
Ash Lawrence, Executive Chair of Kensington and Head of AGF Capital Partners, joined the Investment Committee alongside Thomas Kennedy, Chief Executive Officer, and Richard Nathan in his Vice Chair capacity. This reconstituted four-member Investment Committee now oversees all investment approvals for the Fund's strategy. Kensington Capital Partners, established in 1996 as a Canadian alternative asset manager with offices in Toronto and Vancouver, has committed over $1 billion to private equity investments and continues to accept new investor capital. The updated governance structure and fund modifications are available on SEDAR+.
The approved changes include amended and restated declarations of trust and management agreements, which became effective on March 26, 2026. According to the Manager, these structural modifications were designed to enhance alignment between the Fund's liquidity profile and its underlying private equity holdings, while modernizing redemption and incentive structures to better reflect contemporary fund management practices.
The most significant governance change involves leadership transitions at Kensington Capital Partners Limited. Eamonn McConnell, who served as Senior Managing Director and Chief Investment Officer, and Richard Nathan, Senior Managing Director, both transitioned to Vice Chair positions. In these roles, both executives will continue providing strategic guidance to the firm while stepping back from day-to-day oversight responsibilities. McConnell's departure from the Investment Committee marks a formal shift in the fund's decision-making structure.
Ash Lawrence, Executive Chair of Kensington and Head of AGF Capital Partners, joined the Investment Committee alongside Thomas Kennedy, Chief Executive Officer, and Richard Nathan in his Vice Chair capacity. This reconstituted four-member Investment Committee now oversees all investment approvals for the Fund's strategy. Kensington Capital Partners, established in 1996 as a Canadian alternative asset manager with offices in Toronto and Vancouver, has committed over $1 billion to private equity investments and continues to accept new investor capital. The updated governance structure and fund modifications are available on SEDAR+.
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