GVest Fund Board of Directors

Tim Heavenor, Chairman

Mr. Heavenor is the founding President of Gracorp. He contributes over 28 years of experience in major project development, strategic planning, private equity, business development and corporate finance. Based in Calgary, Mr. Heavenor is also the Executive Vice President and Chief Financial Officer of the Graham Group. Together, Gracorp and Graham Capital are developing a growing portfolio of private and public real estate and infrastructure assets. Mr. Heavenor is the founding President and Director of the GVest Private Equity LP and the Connor Clark & Lunn GVest Traditional Infrastructure LP and is a director of the Canadian Farm Insurance Corporation, a Canadian insurance company.

Mr. Heavenor joined the Graham Group as Vice President in 2007 and founded Gracorp shortly thereafter. Previously, he was one of three executives who led Manvest Inc., a private investment company, to top-quartile returns over a 10-year period. While at Manvest, he was an officer and director of numerous investor and investee companies. Mr. Heavenor holds a B.Com (Finance) from the University of Alberta.

Don Douglas

Mr. Douglas has served as President and CEO of United Communities Inc., one of the largest residential land developers in Alberta, since it commenced operations in July 1993. He is a director of numerous investment and management companies in Alberta, including the Calgary Airport Authority, Jetstream Capital Corp and United Communities.

Mr. Douglas holds a Master of Business Administration degree from the International Management Development (IMD) Institute in Lausanne, Switzerland, and a B.Com from the University of Alberta. He is also a member of the World Presidents’ Organization.

Paul Kennedy

Mr. Kennedy brings over 30 years of experience with development projects, asset and property management to the GVest Fund Board of Directors. He is the President of Vantage Properties Ltd, a successful developer of commercial real estate properties in Alberta. Previously, Mr. Kennedy served as President and Chairman of GWL Realty Advisors, Inc. (GWL), one of Canada’s leading real estate investment advisors, which provides comprehensive asset, property and development management and specialized real estate services to pension funds and institutional clients. He was instrumental in building the foundation for that company; under his leadership, GWL grew from $800 million to over $10 billion of assets under management over 14 years. Prior to leading GWL, Mr. Kennedy was the President of Trizec Office Company, where he led the organization through a successful restructuring and sale.

Mr. Kennedy sits on the boards of the Haskayne Business School and the Tennis Canada Calgary Project. He is a past Chairman of the Minerva Foundation and was a Member of the Executive Committee of the Canadian Institute of Public and Private Real Estate Companies (CIPPREC) until 2005.

Mr. Kennedy holds an MBA from Harvard University and a B.Sc. (Honours) in Political Science and Economics from the University of Toronto.

Michael Wytrykush

Retired since August 2010, Mr. Wytrykush was employed in various executive positions with Graham for over 30 years. Mr. Wytrykush was Executive Vice President of Graham Group Ltd. from December 1991 until his retirement, and was a Director of Graham Group Ltd. and its predecessors from December 1985 to December 2002. His prior positions within the Graham Group of Companies included Director, Controller, Vice President Finance, and Vice President Finance and Legal. He continues to serve on a number of corporate boards.