Dawson Partners
Private equityToronto · Growth–Late Stage · 85 people tracked
Also known as DAWSON PARTNERS (US) INC.
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Investment thesis
Dawson Partners is a global alternative asset manager focused on the private equity secondaries market. The firm operates a series of large secondaries-focused funds (its PF series growing from a US$400M debut to over US$5B) alongside GP-led and equity-oriented vehicles. Its approach emphasizes integrity, transparency, partnership and performance, with an aim to align interests across all stakeholders. Recognized repeatedly by PE International as a leading secondaries and Canadian firm, Dawson has expanded internationally with a London office and built out distribution across private wealth and structured products.
Source: firm website, verified Oct 13, 2026.
Team · 85 people
from the firm's websiteCo-founder of Dawson Partners (established 2015).
Co-founder of Dawson Partners (established 2015).
Promoted to Partner in 2021.
Joined Dawson Partners as Partner in 2017.
Promoted to Partner in 2021.
Promoted to Partner in 2021.
Promoted to Partner in 2021.
Promoted to Partner in 2018.
Ian Gillespie is Head of GP Solutions at Dawson Partners. He works in private equity and infrastructure investment.
Kate Malcolm is a Senior Principal in GP Solutions at Dawson Partners, where she focuses on leveraged buyout fund investments. Her background includes experience in private equity, consulting, and industry, and she has lived and worked in North America, Europe, Africa, and Asia.
Paul Shopiro is a Senior Principal at Dawson Partners, where he oversees private investments and leads the origination, underwriting, transaction negotiation and documentation, and asset management functions, with a focus on private credit strategies. His portfolios have included public and private first lien, second lien, and holdco term loans, high yield bonds, preferred equity, royalties, and equity-linked return kickers across North America, Europe, and Australia. He is also responsible for building and developing investment teams.
Avinash Koul serves as Senior Vice President of Technology and Data at Dawson Partners. His background combines business and engineering roles across both large enterprises and startups, with experience in enterprise SaaS, financial institutions, B2C product growth, and customer experience.
Elisa Martone is Director, Investment Finance at Dawson Partners. She is a Chartered Professional Accountant (CPA, CA) with experience in domestic and international financial reporting, and has held people leadership responsibilities.
Stephen Novalski is SVP, People & Culture at Dawson Partners. He has more than 20 years of experience in professional services, including three years working in an international context.
Fund performance · per public LP disclosures · 6
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Dawson Portfolio Finance 6LPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2024 | — | 14.2% | 1.09x | 0.65x |
| Dawson Partners (Independence), L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2023 | — | 11.4% | 1.20x | 0.49x |
| Dawson Portfolio Finance 5LPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2021 | — | 9.2% | 1.15x | 0.48x |
| Dawson Portfolio Finance 4LPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2020 | — | 9.6% | 1.21x | 0.72x |
| Dawson Partners (Empire), LPLPs: Empire State Development – New York Ventures | 2019 | — | — | 3.49x | 0.05x |
| Dawson Portfolio Finance 3LPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2019 | — | 12.5% | 1.32x | 0.99x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Dawson Partners invest at?
- Dawson Partners invests at the Growth, Late Stage stages.
- What sectors does Dawson Partners focus on?
- Dawson Partners focuses on Advanced Manufacturing, Consumer, Healthtech.
- Where is Dawson Partners located?
- Dawson Partners is headquartered in Toronto, CA.
Media · Podcasts & interviews
featuring the teamPE Sn Francisco 2025: Yann Robard of Dawson Partners Spoke to Courtney McQuade
Markets Group · Yann Robard
Scaling and Innovating in Secondaries with Dawson Partners’ Yann Robard
Proskauer · Yann Robard
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