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Christopher A. Travascio

M&A Lawyer | Private Equity & Venture Capital

Partner

Jung Kuo (John) Ra

Corporate Commercial Lawyer at Bennett Jones Toronto

Associate

The latest PitchBook Global Private Market Fundraising Report highlights key trends shaping private capital markets in the first half of 2025. This article examines shifts in regional fundraising dynamics, the continued strength of private debt, the growing scale of secondaries, and challenges facing private equity&mdash;particularly for emerging managers. With capital increasingly concentrated among experienced fund managers, the report offers valuable insights for sponsors navigating fundraising, dealmaking, and portfolio strategy in an evolving market environment.

Top Trends in Private Market Funding

Top Trends in Private Capital Fundraising

Jason M. Berall

Commercial Litigation Lawyer at Bennett Jones Toronto

Dylan H. Yegendorf

The test for leave to bring a secondary market securities misrepresentation claim under section 138.3 of the Ontario Securities Act has been the source of much confusion and conflicting jurisprudence. In a series of decisions released in 2015, the Supreme Court of Canada attempted to clarify the threshold by explaining that “some credible evidence” is required to pass the test.

Ontario Court of Appeal Provides Further Guidance on the Leave Test for Securities Misrepresentation

Ontario Court of Appeal Provides Further Guidance on the Leave Test for Securities Misrepresentation Claims

Jonathan G. Bell

Commercial, Securities and Class Action Litigation Lawyer

The corporate attribution doctrine concerns the attribution of the actions of a corporation’s directing mind to the corporation itself. On March 10, 2022, in Ernst & Young Inc. v. Aquino, the Court of Appeal released what it described as a decision of first impression in which the Court considered the doctrine in the bankruptcy and insolvency context. In particular, the Court held that the fraudulent intent of a directing mind could be imputed to a bankrupt corporation for the purpose of voiding transfers at undervalue under section 96 of the Bankruptcy and Insolvency Act.

Court of Appeal Refines the Corporate Attribution Doctrine

Aaron E. Sonshine

Corporate Finance, M&A and Corporate Governance Lawyer

Partner 

Securities Regulators Provide Guidance to Improve Transparency for Reporting Issuers

Securities Regulators Provide Guidance to Improve Transparency for Reporting Issuers in the Cannabis Industry, Providing Lessons for All

Dominique T. Hussey

Chief Executive Officer and Intellectual Property Litigator, Pharma/Biotech and Trademark Lawyer

Chief Executive Officer

Vincent M. de Grandpré

IP Lawyer | Life Sciences & Tech

Emily P. Kettel

Intellectual Property Lawyer at Bennett Jones Toronto

Partner, Trademark Agent

In Pharmascience v. Janssen Inc., the Supreme Court of Canada reaffirmed that methods of medical treatment remain unpatentable subject matter under the Patent Act because they are directed to the professional skill and judgment of healthcare practitioners. At the same time, the Court upheld the patentability of the dosing regimen claims at issue, clarifying that not all therapeutic or treatment-related claims constitute unpatentable methods of medical treatment. The decision provides important guidance on assessing patent eligibility for pharmaceutical and life sciences innovations in Canada.

Supreme Court of Canada Reaffirms that  Methods of Medical Treatment are Unpatentable

Supreme Court of Canada Confirms That Medical Professional Skill and Judgment Are Excluded From the Patent Bargain

Ethan Z. Schiff

Class Actions & Commercial Litigation Lawyer

Evana Yukanna

Ontario court denies a late class action opt-out request, reinforcing settlement finality and confirming prejudice can arise before court approval.

Ontario Court Reinforces Finality of Class Proceedings in Rejecting Late Opt Out Request

Ontario Court Reinforces Finality of Class Proceedings in Rejecting Late Opt-Out Request

Martin Ignasiak KC

Energy & Industrial Projects Lawyer

Head of Energy Regulatory

Tyler McDonough

Commercial Litigation Lawyer at Bennett Jones Calgary

Logan Lazurko

Energy & Regulatory Lawyer | Environmental

On June 17, 2026, the Alberta Court of Appeal unanimously dismissed an appeal by Fort McMurray 468 First Nation challenging an Alberta Energy Regulator decision that the First Nation lacked standing to request regulatory appeals of approvals issued to AdhMor Ltd. for an oilfield waste management facility near Fort McMurray. The decision in Fort McMurray 468 First Nation v Alberta Energy Regulator, 2026 ABCA 197, offers important guidance on what it takes to get in the door at the AER.

Alberta Court of Appeal Confirms Cumulative Effects are no Substitute for Evidence

No Standing Without Specifics: Alberta Court of Appeal Confirms that Cumulative Effects are no Substitute for Evidence

Wesley R. Novotny

Corporate Tax Lawyer at Bennett Jones Calgary

Wade Ritchie

Tax Lawyer at Bennett Jones Calgary

Zachary Thacker

In the April 28, 2026 Spring Economic Update, the federal government announced its intention to make permanent the C$10 million capital gains exemption available on certain sales of businesses to employee ownership trusts and worker cooperatives, which exemption was previously set to expire at the end of 2026. This amendment has now passed into law as part of Bill C-30, which received Royal Assent on June 18, 2026.

Capital Gains Exemption Made Permanent for Employee Ownership Trusts

A Major Boost for Canadian Business Succession

C$10 Million Capital Gains Exemption Made Permanent for Employee Ownership Trusts 

Curtis A. Cusinato

Vice Chair and Co-Head of M&A

Vice Chair and Co-Head of Mergers & Acquisitions

Tyler B. McAuley

Corporate Lawyer at Bennett Jones Toronto

Kevin Myson

Energy & Corporate Lawyer | M&A, Natural Resources & Transport

Canada&rsquo;s M&amp;A market remained resilient through the first half of 2026, with deal activity increasingly concentrated in large, strategically important transactions despite ongoing economic and geopolitical uncertainty. This quarterly update explores the sectors driving Canadian M&amp;A, including energy, digital infrastructure and real estate, and examines how policy developments, AI-related demand and shifting investment priorities are shaping dealmaking trends. It also highlights key opportunities and considerations for investors as activity is expected to accelerate in the second half of the year.

Bennett Jones Toronto Welcomes New Associates

From the Same Authors