KingSett Capital Inc. has announced founder and CEO Jon Love will transition to executive chair of the firm and that Rob Kumer will take over as CEO on Jan. 1, 2024.

Founded in 2002, Toronto-based KingSett Capital is one of Canada’s largest private equity real estate firms. It co-invests with institutional and ultra-high-net-worth clients and manages over $18 billion in assets across its growth, income, urban, mortgage, residential development and affordable housing strategies.

Love is KingSett’s majority owner and will maintain oversight and responsibility for the firm, guide its strategy and serve on the KingSett fund boards. 

Kumer’s role as CEO will be to oversee executive management, work with Love to establish KingSett's strategy and drive results. Kumer will continue to serve as chair of KingSett's management and investment committees.

"This transition formalizes the expanded leadership role Rob has played so well over the last several years and marks the culmination of a well-planned, multi-year leadership succession at the firm," Love said in the announcement Monday morning.

"KingSett has assembled a management committee and team of professionals that bring extraordinary depth of experience and cross-platform expertise. 

“They are ready to lead KingSett forward into the next decade, focusing on our core mandate - delivering sustainable premium risk weighted returns for our investors.”

Through speaking engagements at industry and other events and media appearances, Love has become a well-known spokesman for the industry across Canada.

Kumer’s time at KingSett

Kumer joined KingSett in 2004 as an analyst and has assumed increasingly senior roles over the years including chief investment officer and chair of the investment committee in 2018. He was appointed president and chair of the management committee in 2021.

As president and CIO, he was responsible for guiding and executing KingSett's investment strategy and leading the investments team which sources, underwrites and structures transactions for KingSett's various funds.

He also provided oversight of the mortgage lending business and served as fund manager for KingSett's growth funds and urban fund.

Kumer holds a degree in Honours Business Administration from the Ivey Business School at Western University, where he is a member of the advisory board. He is also vice-chair of the board of the Sinai Health System Foundation.

"I am grateful for the opportunity to serve as KingSett's CEO and help lead the firm into the next phase of its growth and investor performance," Kumer said in the announcement.

"I will be focused on maintaining KingSett's strong culture and values, which have been fundamental to our success. 

“I want to thank Jon for the trust he has shown in me, and I want to thank our investors and board members, and our valued partners for the confidence they continue to show in KingSett."

Baryliuk, Coates earn promotions

As part of this transition, Colin Baryliuk will join the firm's management committee and assume the role of chief investment officer. Baryliuk joined KingSett in 2008 and has held increasingly senior roles including most recently group head, property investments. 

Baryliuk will be responsible for day-to-day management of the investments team including allocation of team resources and oversight of investment underwriting, transaction negotiation and due diligence.

Scott Coates, who joined KingSett in 2006, will be elevated to president, KingSett Mortgage Corp., reflecting “his central role and his success in building and leading the firm's national commercial and residential mortgage lending business, a key component of the KingSett Capital platform” the announcement states.

All of the executive changes are effective Jan. 1.