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Homebuilding King Is Funneling His Fortune Into Something New

  • Founder of Canada’s Mattamy Homes sets up new investment fund
  • Firm has built more than 100,000 homes from Ottawa to Florida
Peter Gilgan

Peter Gilgan

Photographer: Cole Burston/Bloomberg

Over four decades, Peter Gilgan turned Mattamy Homes into the largest closely held home-construction company in North America. Now the Canadian billionaire wants to do something entirely new.

Gilgan is stepping aside as chairman of Mattamy Homes and setting up a new company to invest in other sectors, using the C$1.5 billion ($1.1 billion) of excess cash flow expected to be generated by the builder over the next four years.