Portrait of Stephen D. Lister

MBA '85

Managing Partner, Imperial Capital Group

Stephen Lister is a Managing Partner of Imperial Capital, a private equity buy-out firm which he co- founded in 1989. He has been a director and/or trustee of many private and public companies including: Stantec, Inc., E.D. Smith & Sons Ltd., Associated Freezers Income Trust, Lise Watier Cosmetics, YPTel Corp., and Petra Pet, Inc.

Since 1989 Mr. Lister has co-led the establishment of Imperial Capital Acquisitions Funds I through VI, and led the acquisition of a number of successful platform companies and numerous follow-on acquisitions in a variety of industries in both Canada and the United States. Mr. Lister has also played a key role in the subsequent expansion and growth of each of these companies, including their public listings on major Canadian and U.S. stock exchanges through initial public offering or merger.

From 1987 to 1989, Mr. Lister was the President of Startups Inc., a company he founded to provide equity financing and consulting assistance to high growth, early-stage companies. In 1987, he was an Associate with Harrison Associates, a Toronto Consulting firm, and from 1985 to 1987, he was Management Consultant with the Financial and Special Services and General Management Services Groups of Touche Ross & Partners in Toronto. As a consultant he provided strategic planning, financial, and marketing consulting services to many companies in North America and Internationally. From 1982 to 1984, Mr. Lister was an economist with the House of Commons, Government of Canada, where he wrote economic policy papers and research reports for members of Parliament.

Mr. Lister obtained a Masters degree in Business Administration from the Ivey Business School at the University of Western Ontario in 1985 and an Honours Bachelor of Arts degree in Economics from the University of Toronto in 1982.

Mr. Lister is a member of the Ivey Business School Advisory Board at Western University, the Board of the Michael Garron Hospital Foundation, the Investment Committee for the Pension and Endowment Funds of Victoria University at the University of Toronto (past member of the Board of Regents), the Board of the Canadian Institute for Advanced Research (CIFAR), and the Principal’s Advisory Board for Upper Canada College. Mr. Lister has also been on many charitable campaign committees for these organizations.

Mr. Lister is a member of the following clubs and organizations: Young President’s Organization (YPO), Chief Executives Organization, The Toronto Club, The Cambridge Club; The Ticker Club (Past President); Ivey Alumni Association (Toronto); The Lake Joseph Club; and The Osler Bluff Ski Club.

He is married to Dr. Margaret (Molly) Rundle, a family physician in Toronto, and they have two sons. Mr. Lister’s hobbies include: competitive amateur golf; music (tenor saxophone); art collecting; skiing; fitness; and reading.