2000
Conundrum Capital Corporation is Founded
Building on years of experience in real estate investment, Conundrum Capital Corporation is established by founders Dan Argiros, Gord McMehen and Richard Dainard.
Built Over25 Years
“We weren’t a firm set up to earn fees. We were a firm set up to earn returns for investors.”
Discover our historyDaniel Argiros, CEO Conundrum Capital Corp.
Who We Are
Since starting around a small table in 2000, Conundrum has built a track record creating and managing investment funds and developing businesses and partnerships across Canadian real estate.
With a focus on creating long-term value and delivering strong returns for investors, the Conundrum team has acquired and managed more than $6 billion in assets, attracting institutional and private investors and partners from around the world.
Along the way, Conundrum has expanded its capabilities beyond fund management, building an integrated network of investment, asset and property management expertise.
How We Work Together
Conundrum and its partners operate across complementary businesses that together create lasting value for investors.
Conundrum
Creates and manages real estate investment funds, bringing together capital, opportunities, and investment strategy.
A partnership between Conundrum and Manulife Asset Management Private Markets focused on Canadian multi-family residential real estate.
Provides property management services across Q Management’s residential portfolio, overseeing properties and the resident experience.
ARCH Corporation manages real estate investments across private and public markets for institutional investors, pension funds, and family offices, and is Ontario’s largest private developer of new Class A Long-Term Care Homes.
Built With Intention
The milestones that shaped Conundrum’s investment platform, partnerships, and operating capabilities.
2004
First Residential Real Estate Fund
Conundrum launches its first residential real estate fund, laying the foundation for what would become a significant multi-residential investment platform.
2005
RBC Partnership
A partnership with RBC brings new scale with the creation of a Sharia-compliant real estate fund.
2006
Second Real Estate Fund
Conundrum launches its second residential real estate fund
2010
A Move Into Solar
Conundrum expands beyond real estate with the launch of Potentia Solar, applying its investment approach to the growing renewable energy sector. Potentia is sold in 2016 to Power Corporation of Canada.
2010
Third Real Estate Fund
Conundrum launches its third residential real estate fund.
2012
Bringing Management In-House
Conundrum brings property management in-house with Q Management, creating greater control over operations, service and the resident experience.
2012–2015
Building at Scale
Conundrum continues to grow its multi-residential platform, establishing Q Residential REIT in 2012 and Continuum Residential REIT in 2014.
2016
Manulife Partnership
Manulife Asset Management acquires a 49% interest in Q Management, marking the beginning of a significant strategic partnership.
2016
Launching ARCH Corporation
ARCH Corporation is launched, expanding into long-term care while building a broader investment platform across private and public markets.
2019
A Landmark $1.7 Billion Transaction
Continuum Residential REIT sells its 44-building, 6,271-suite GTA high-rise portfolio to Starlight Investments for $1.7 billion.
$1.7B
44 buildings · 6,271 suites · Greater Toronto Area
2026
ARCH Corporation Milestone
ARCH achieves over $1 Billion in long-term care assets under development.
$1B+