Fund Profile
NAV ($)
$9.444
2026/02/27
Total Net Assets ($)
$241.3 Million
2026/02/28
Distribution ($)
$0.1500 Per unit
Last paid 2025/12/31
Yield (%)
6.35% Based on NAV
2026/02/27
Management Fee2
1.25%
Investment Highlights
Target Allocation
Capital will be allocated across infrastructure and real estate sectors with an increased weighting given to those with the most attractive risk adjusted return potential.
Listed Real Estate & Infrastructure
- Generate yield and liquidity from a global portfolio of real estate and infrastructure securities.
- Historically, listed real estate and infrastructure securities have outperformed other major asset classes.
- Access to real estate and infrastructure sectors that are not available in the listed Canadian market.
Private Real Estate & Infrastructure
- Potential growth from a portfolio of private infrastructure and real estate funds and investments.
- Unlisted, real estate and infrastructure solutions provide uncorrelated returns with lower volatility.
- Access to institutional global private solutions managed by best-in-class asset management teams.
Trust Objectives
The Trust's investment objectives are to provide unitholders with cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors, and to a lesser extent, the global diversified equity sector.
Trust Facts
Fund Code
SLC1403
Currency
CAD
Distribution Frequency
Distribution
Investment Type
Structured Products
Registered Investment Eligible
Yes
Total Number of Holdings
60
Investment Management Team
Dennis Mitchell MBA, CFA, CBV
Chief Executive Officer and Chief Investment Officer
Dennis Mitchell joined Starlight Capital in March 2018 as Chief Executive Officer and Chief Investment Officer. He has over 25 years of experience in the investment industry and has held executive positions with Sprott Asset Management, serving as Senior Vice-President and Senior Portfolio Manager, and Sentry Investments, serving as Executive Vice-President and Chief Investment Officer.
Mr. Mitchell received the Brendan Wood International Canadian TopGun Award in 2009, 2010, and 2011 and the Brendan Wood International 2012 Canadian TopGun Team Leader Award. He also received the Afroglobal Television Excellence Award for Enterprise in 2020 and the Black Business and Professionals Association’s Harry Jerome President’s Award in 2021.
Mr. Mitchell holds the Chartered Financial Analyst and Chartered Business Valuator designations and earned a Master of Business Administration from the Schulich School of Business at York University in 2002 and an Honors Bachelor of Business Administration degree from Wilfrid Laurier University in 1998.
Mr. Mitchell currently sits on the Board of the Toronto Foundation and is Co-Founder and Director of the Black Opportunity Fund.
Dennis Mitchell MBA, CFA, CBV
Chief Executive Officer and Chief Investment Officer
Fund Tenure
2018-12-13
Read Bio >
Hisham Yakub CFA
Senior Portfolio Manager
Hisham Yakub joined Starlight Capital in February 2023 as Senior Portfolio Manager. He has over 10 years of experience in the investment industry.
Mr. Yakub most recently held a position with a boutique Toronto-based investment management firm as an Investment Analyst and Portfolio Manager. He also spent the first six years of his business career focused on developing software tools for portfolio management applications. He progressed through several roles across the industry and finished his pre-MBA career at CPP Investment Board.
Mr. Yakub holds the Chartered Financial Analyst and Financial Risk Manager designations and earned a Master of Business Administration from the Rotman School of Management at the University of Toronto in 2013 and an Honours Bachelor of Business Administration degree with a specialization in Information Systems from York University.
Executive Team
Dennis Mitchell MBA, CFA, CBV
Chief Executive Officer and Chief Investment Officer
Graeme Llewellyn CPA, CA
Chief Financial Officer and Chief Operating Officer
Board of Trustees and Audit Committee
Denim Smith
Lead Trustee, Chairman of the Audit Committee
Dennis Mitchell-old MBA, CFA, CBV
Chairman of the Board
Graeme Llewellyn CPA, CA
Trustee
Jasmin Jabri
Trustee
Gajan Kulasingam CFA, CPA, CA
Trustee, Audit Committee Member
Mandy Abramsohn CPA, CA, CFA, CBV
Trustee, Audit Committee Member
Sandra Levy LL.B, B.A. (Hons)
Trustee
*Where this is a new fund, the risk rating is only an estimate by Starlight Capital. Generally, we determine the risk rating for each fund in accordance with a standardized risk classification methodology in NI 81-102 that is based on the fund’s historical volatility as measured by the 10-year standard deviation of the returns of the fund. Standard deviation is a common statistic used to measure the volatility and risk of an investment. Funds with higher standard deviations are generally classified as being more risky. Just as historical performance may not be indicative of future returns, a fund’s historical volatility may not be indicative of its future volatility. You should be aware that other types of risk, both measurable and non-measurable, also exist.
1Redemption transactions are currently suspended and will remain so until the special redemption right is offered following the closing of the Trust’s public offering of Preferred Units. For full details, please refer to the Management Information Circular dated June 13, 2025.
2Net of accrued management fees and all fund expenses.
Starlight Investments Capital LP (“Starlight Capital”) is the investment manager of the Global Real Assets Trust.
Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with investment trusts. Please read the prospectus or other applicable offering document before investing. Investors should consult with their advisors prior to investing. The indicated rates of return are the historical annual compound total returns net of fees (except for figures of one year or less, which are simple total returns) including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Investment trusts are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein is not an offer to sell nor a solicitation to buy any security. Such an offer can only be made by the prospectus or other applicable offering document. There are ongoing fees and expenses associated with owning units of the investment trust. An investment trust must prepare disclosure documents that contain key information about the trust. You can find more detailed information about the trust in these documents. Starlight, Starlight Investments, Starlight Capital and all other related Starlight logos are trademarks of Starlight Group Property Holdings Inc.
Are you an accredited investor?
Starlight Private Pools are offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Starlight Private Pools is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Starlight Private Pools are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Starlight Private Pools including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
Are you an accredited investor?
Unison Acquision Trust is offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Unison Acquision Trust is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Unison Acquisition Trust are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Unison Acquisition Trust including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
Are you an accredited investor?
Tower Development Trust is offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Tower Development Trust is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Tower Development Trust are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Tower Development Trust including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
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