With more than C$16 billion AUM and offices in Montreal, Toronto and New York, Novacap is a leading North American private equity firm with a long-standing track record of partnering with entrepreneurs and management teams to build market-leading businesses.

The firm invests exclusively through four buyout strategies: Industrials, Financial Services, Digital Infrastructure, and Technologies, each with dedicated fund capital and clearly defined investment criteria.

Each strategy is sector-led and thesis-driven, combining deep operating and investment expertise with an active ownership mindset to support growth, transformation, and long-term value creation.

Please note that we are accepting applications for Winter 2027 internships from August 27 to September 8, 2026, inclusive.

Learning opportunities for the student

Novacap will offer an exciting opportunity to work and learn about the entire investment process from identification, to validation and realization of an opportunity.

The Private Equity Intern will have the opportunity to attend business development meetings and see how new investment opportunities are sourced, evaluated and due-diligenced. He/she/they will also attend portfolio management meetings to see the value creation process in portfolio companies and how professional fund managers deal with arising business issues and problems.

The student will gain valuable skills in financial modelling, business valuation, market research and due- diligence; and will work within Novacap’s team of experience professionals whom have strong financial backgrounds in M&A, due diligence, business valuation, investment banking and operations.

Key responsibilities

As a Private Equity Intern you will:

• Screen and analyze potential PE investment opportunities;
• Prepare financial analyses and due diligence on potential PE investments;
• Assist in the preparation of investment recommendation documents for investment approval;
• Assist in post-investment monitoring and operations of PE investments;
• Prepare financial models that include an IRR analysis; and
• Prepare reports on specific target markets (e.g. market size, # of players, dynamics, recent M&A transactions)

Required qualifications and skills

• Enrolled in a Bachelor of Commerce or Master’s in Finance or; MBA or; Economics or Engineering while pursuing a minor in Finance;
• Entrepreneurial spirit with a strong sense of accountability as well as a willingness to work certain periods of extended hours to accommodate tight deadlines;
• High academic achievement;
• High level of proficiency with computer tools such as MS Office (namely Excel and Power Point);
• Bilingual, english and french.