Former Russell Investments Canadian CEO to join Third Eye Capital

David Steele joins the asset-based financing specialists after nearly 20 years with Russell

Former Russell Investments Canadian CEO to join Third Eye Capital
Steve Randall

Former president and CEO at Russell Investments Canada, David Steele, is joining Third Eye Capital next month as president and chief operating officer.

The experienced investment industry leader joins the provider of asset-based financing solutions to underserved or overlooked companies.

Steele spent almost 20 years with Russell Investments’ Canadian business and became its CEO in 2016 having overseen its significant growth and guiding its strategic plans including new distribution partners and product growth, including new alternative investment solutions.

Third Eye Capital focuses on providing financing to those businesses that are often overlooked by traditional sources of capital and has almost $5 billion in lending commitments across more than 125 portfolio investments.

The firm is led by Arif Bhalwani as CEO who is full of praise for his incoming COO.

“David’s career has been nothing short of impressive, successfully delivering strong results and expanding investment capabilities, all while effectively cultivating a culture built on trust, engagement, and inclusion,” he said. “He was instrumental in the transformation and enhancement of all the business units he has led, and I am confident that David has the skills and vision to allow us to continue to scale and grow.”

New fund launch

Steele will guide his new team and ensure the continuance of its ethical and client-centric culture, while overseeing strategic planning, finance and accounting, performance and risk management, and compliance.

He will also be working towards the firm’s latest fund launch as part of its flagship series. The fund is expected to close later this year and has an aggregate of at least $20 million committed by its TEC Insiders, those among the top three investors of the company’s total private debt assets under management.

“I am thrilled to join Third Eye Capital and eager to build upon the strong foundation laid by Arif and his team over the past two decades,” said Steele. “It is a pivotal time in the alternative asset industry, and Third Eye’s compelling track record and edge in navigating complex situations, make it ideally positioned to meet the evolving needs of sophisticated investors.”

Steele will take up his new role on August 15, 2023.