Miles S. Nadal, Founder and Executive Chairman of Peerage Capital Group speaks to his vision for the company, entrepreneurship, philanthropy, his passion for collecting and his ten rules of partnership in the Fall, 2019 issue of Leaders Magazine.
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What was your vision in creating Peerage Capital?
The idea was to use the methodology, philosophy and cultural elements that made us successful over the last 40 years. Simply put, we believe in the power of human capital. Peerage partners with management teams that have entrepreneurial DNA, great focus, exceptional discipline, and a vision to build businesses. Then, we provide capital and other strategic and financial resources to foster growth, yielding mutually beneficial success. Our fundamental belief is that management has to have both emotional and financial ownership in an enterprise to succeed.
We are focused on two primary areas, real estate, and financial services. In financial servi es, we’re going on $6 billion of assets under management, about 15 percent of which is in the United States, and 85 percent of which is in Canada. Our target clients are high-net-worth individuals, institutional and family office asset management.
The real estate services business has two core components. The first is physical real estate, where we’re a developer and a creator of self-storage infrastructure and facilities. We have 2 million square feet under management, ownership, development, and administration. Our goal is to build this to 5 to 10 million square feet over the next 10 to 15 years. The reason for focusing on self-storage is because, in the United States, self-storage is about 9 square feet per capita, whereas in Toronto and in the Greater Toronto Area (GTA), it’s only about 2.5 square feet per capita, so it is much less mature and represents a significant opportunity for further growth…
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