Blackstone moves into Canada

  The firm appointed Andrew Lapham as an executive advisor in the region.    

The Blackstone Group appointed Andrew Lapham as an executive advisor to focus on Canadian investments, according to a statement.

Lapham will focus on sourcing and evaluating investment opportunities and is the firm’s first professional in Canada. Blackstone declined to comment on whether it has plans to hire additional professionals in the region. Lapham will be based in Toronto.

“Canada is both a strategic market for Blackstone and home to many of our most important limited partner relationships.  It is critical to our firm to have a local presence in Canada,” Joseph Baratta, Blackstone’s global head of private equity, said in the statement.

Blackstone’s investments in Canada include a 2008 investment in Calgary-based Osum Oil Sands Corp, according to a prior statement. The firm has exited its investments in Montreal-based children's toy company Megablocks and Goreway Station Project, a natural gas plant in Brampton, Ontario which is now part of development company Sithe Global Power.

Lapham founded Northern Private Capital last year and will continue to serve as a managing partner at the firm. Blackstone board member and former prime minister of Canada, Brian Mulroney is the chairman of Northern Private Capital, according to the firm’s website. However, there is no relation between Blackstone and Northern Private Capital.

Lapham was previously a principal at Onex Corporation in Toronto and an associate at mid-market private equity firm Odyssey Investment Partners in New York, according to the website. Lapham also worked at hedge fund John A Levin & Co. and in Morgan Stanley’s M&A department.