Titan of Real Estate Investing Jon Love of KingSett Capital on Why PE is a Constant Wheel of Terror

This week we have a titan of Private Equity and Real Estate in Canada, Jon Love the Founder and CEO of KingSett Capital.

Jon shares some incredible stories from his early years of running Oxford Properties, the lessons he learned from helping the firm navigate two real estate market downturns, and how the eventual sale to OMERS came to be.

Jon discusses the reasons he decided to launch KingSett Capital back in 2002, how his leadership style has evolved from his days at Oxford, and how he has been able to grow the firm’s assets to over $17B.

We dig into how Canada is falling behind on many aspects of innovation, the return-to-office mandates CEOs are facing today, and his thoughts on the current political climate in Ottawa.

Plus we have John Ruffolo back to talk about the week’s news.

About Jon Love:Jon Love is the founder and CEO of KingSett Capital, a prominent private equity real estate investment firm. Since its inception in 2002, KingSett has impressively managed over $17 billion in assets, earning a strong reputation for its effective investment strategies across various sectors, including Growth, Income, Urban Development, Mortgage, Residential Development, and Affordable Housing.

Before his leadership at KingSett, Jon had a distinguished career at Oxford Properties, beginning in 1980 and eventually becoming President in 1987 and then CEO in 1992. He notably guided Oxford's transition to a publicly traded company in 1995. In 2001, Oxford was privatized when it was acquired by the Ontario Municipal Employees Retirement System (OMERS) in a $4 billion deal.

Jon actively participates in prestigious business organizations and has received numerous accolades for his leadership and academic achievements, including an Honorary Doctorate from Western University in 2016, membership in the Order of Canada (C.M.) in 2018, and prestigious awards such as the Ivey Business Leader of the Year Award and the NAIOP Rex Icon Award in 2023.

In this episode, we discuss:

(0:01:04) News rundown with John Ruffolo(0:21:57) Jon Love’s career journey(0:23:08) Advice his father Don Love gave him as he took over Oxford Properties(0:24:12) How Jon’s experience selling Oxford shaped his view on when to sell(0:26:47) The importance of leveling with creditors and investors(0:30:50) Why he didn’t view as a Oxford a family business(0:33:35) How Jon’s approach evolved when he started KingSett Capital(0:34:26) On second-guessing himself for starting a new business(0:35:38) Making the jump to entreprenuership(0:38:40) How KingSett works to retain talent(0:40:30) How Jon’s approach to fundraising has changed over time(0:41:16) Why no deal is too small for KingSett(0:42:18) Derisking deals to protect against broader market trends(0:44:11) What current market conditions have meant for KingSett(0:45:23) The state of equity deals(0:46:18) Why innovation is lagging in the Real Estate sector(0:48:22) The importance of ESG to Jon and KingSett(0:50:42) Thoughts on the Canadian residential Real Estate market(0:54:39) Advice to younger leaders and CEOs(0:56:15) Why face to face is important(0:57:30) How Jon uses his Family Office Jona Capital(0:58:32) Jon’s passion investments(0:59:34) Political ambitions(1:02:19) How competitive Canadian capital is in the global marketplace

Fast Favorites:

* 🎙- Favorite Podcast: Tank Talks

* 📰- Favorite Newsletter / Blog: Bloomberg News

* 📲- Favorite Tech Gadget: His Phone

* 📈-  Favorite New Trend: Facetime for keeping up with family

* 📚- Favorite Book: Kids books with his grandchildren

* 🤔 - Favorite Life Lesson: Bet on people

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