Mortgage on Stephenville airport property transferred to Calgary private equity firm
CBC
A new player has emerged in the saga of the shuttered Stephenville airport on Newfoundland’s west coast.
A Calgary-based private equity manager has acquired the rights to collect a $2-million court judgment against airport owner Carl Dymond.
But it’s unclear at this point exactly what role BTG Capital Inc. may want to play in the future of the facility, if any.
BTG officials have not responded to a series of emails from CBC News over the past week.
Dymond declined interview requests, but did reply to a text message.
“Looking forward to working with BTG on the longer term revitalization of the airport,” he wrote.
“This was an important first step toward that. No further comment.”
BTG Capital Inc. appears to have a limited online footprint.
The most recent press release on its website is dated nearly three years ago, and announces the final closing of its inaugural private equity fund.
It said the fund had $74.2 million in total commitments from “institutional and family office” investors.
“The fund’s mandate is to make investments in the Canadian energy infrastructure sector,” noted the press release, dated Dec. 20, 2022.
“It is currently focused on midstream, power and energy transition platform investments.”
The Stephenville airport has been shuttered since early June, when its electricity was cut off. Months earlier, its status had been downgraded from a full-fledged airport to a registered aerodrome.
Dymond, an Ottawa-area businessman, publicly announced plans to acquire the airport in September 2021, and finally closed the deal nearly two years later.
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