Front Street Completes $100M IPO

On October 15, 2004, Front Street Performance Fund II, a single-manager, multi-strategy investment trust, completed an initial public offering which raised gross proceeds of $100.12 million at $10 per unit.

National Bank Financial Inc. and CIBC World Markets Inc. co-led the syndicate of agents, which also included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corp., Dundee Securities Corp., First Associates Investments Inc., Raymond James Ltd., Berkshire Securities Inc., GMP Securities Ltd., Tuscarora Capital Inc. and Wellington West Capital Inc.

The Fund and its manager, Front Street Capital 2004, were represented by Blake, Cassels & Graydon LLP with a team that included Jeffrey Lloyd, Teresa Budd, and Stacy McLean (securities) and Jeffrey Trossman and Paul Stepak (tax).

The agents were represented by Stikeman Elliott LLP with a team that included Darin Renton and Stee Asbjornsen (securities) and John Lorito (tax).