North Surf Capital Partners

Navigating Opportunity.
Capturing Value.

A private equity firm focused on acquiring and growing positive cash-flowing businesses and real estate across North America.

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3
Founding Partners
2
Core Strategies
100%
Principal Capital
LMM
Lower Middle Market

Steady hands.
Sharp instincts.

North Surf Capital Partners is an opportunistic private equity firm founded by seasoned operators and investors. We partner with, acquire, and grow smaller businesses and real estate assets that demonstrate strong, consistent cash flow.

Our disciplined approach combines rigorous underwriting with hands-on operational expertise — ensuring that every investment we make is built to endure and compound.

Investment Focus
Operators First,
Investors Second.
We've built and run businesses. We know what it takes.
Our Mandate
Durable Cash Flow.
Lasting Value.
Every investment is built to endure and compound.

Investment Strategy

Two pillars.
One discipline.

01
Operating Businesses

We target smaller, profitable businesses in fragmented industries where our operational expertise and capital can accelerate growth. Our ideal targets demonstrate proven cash generation, defensible market positions, and a motivated seller.

Fragmented IndustriesProven Cash FlowControl Positions
02
Real Estate

We invest in cash-flowing real estate assets across select North American markets, focusing on value-add and core-plus opportunities where disciplined acquisition pricing and active asset management drive superior risk-adjusted returns.

Value-AddCore-PlusNorth America
$2M–$25M
Target Equity Check
Cash Flow+
Acquisition Criteria
Control
Preferred Position
3–7 yr
Hold Period

Our Approach

How we invest.

Operator Mindset

We are operators first, investors second. Our partners have built and run businesses, which means we understand the complexities companies face — and how to solve them.

Disciplined Underwriting

We prioritize quality of earnings and durability of cash flow. We do not overpay. Our returns are earned through value creation, not financial engineering.

Partnership Culture

We believe in long-term relationships with founders, management teams, and investors. Trust and alignment of incentives are the foundation of every transaction we pursue.

Leadership

The founding partners.

JPM
Jack P. Murray
Founding Partner & CEO

Jack leads the firm's overall strategy, investor relations, and deal origination. He brings extensive experience in private equity investing and business leadership.

TR
Tyler Rummel
Founding Partner & CFO

Tyler oversees financial operations, fund management, and portfolio reporting. His background in finance and accounting ensures rigorous capital stewardship.

SK
Shane Kelly
Founding Partner & COO

Shane drives operational excellence across the portfolio. His hands-on approach to management and process improvement creates measurable value at every investment.

Let's explore
what's possible.

We are always interested in speaking with founders, business owners, real estate professionals, and potential investors who share our commitment to building lasting value.

info@northsurfcapital.com