Formed in 1979, Middlefield is involved in a number of business activities. Its head office is located at First Canadian Place in Toronto. The Middlefield Group and its affiliates have approximately 85 employees located mostly in Toronto, with additional offices in Calgary, San Francisco and London, England. Middlefield manages investment funds and assets on behalf of a wide range of clients which include Canadian and international financial institutions, corporations and individuals. Its services are provided in Canada primarily through Middlefield Capital Corporation in Toronto (which is a member of the Investment Dealers Association of Canada) and internationally through Middlefield International Limited in London, England (which is registered as a member firm with The Financial Services Authority in the United Kingdom). In addition to asset and investment management, services provided by Middlefield include corporate finance, merchant banking, financial advisory, securities placement and real estate activities.

Middlefield has assets under management in excess of $4.0 billion. Middlefield manages private and public resource funds, mutual funds, real estate funds, a venture capital fund and other investments. Middlefield has approximately $3.0 billion in assets under management in the following closed-end funds, including the closed-end funds that it co-advises with Guardian Capital Inc.

Middlefield has focused on and developed investment management expertise in three key areas: oil and gas, mining and uranium; real estate and small capitalization corporations. As well, Middlefield has developed extensive expertise in the utilization of tax-advantaged forms of investment vehicles such as limited partnerships and flow-through share vehicles. Middlefield's role in its fund management business includes the creation and structuring of investment vehicles, the completion of offerings to investors, the identification, selection and monitoring of suitable investments, acting as custodian, registrar and transfer agent, monitoring regulatory compliance and providing reports to investors on operating and financial performance as well as for income tax purposes.

In the real estate sector, since its inception, Middlefield has been involved in all aspects of the industry. Activities encompass land acquisition, project design, construction, financing and leasing of projects. Upon project acquisition or completion, ongoing property management services are provided through its affiliates. Middlefield has sponsored and manages 14 projects valued in excess of $400 million. Properties involved include approximately 1,500 residential units as well as commercial projects. Currently, about 900 residential units and several limited partnerships are managed by Middlefield.

In the oil and gas and mining sectors, Middlefield has acted as agent or manager for over $1.5 billion of resource investments since 1983 when it commenced activity in this sector. Middlefield's resource experience includes: the management of a co-venture and two limited partnerships which own producing oil and gas assets engaged in oil and gas exploration and development; the co-founding of Morrison Middlefield Resources Limited (MMRL), a TSX listed oil and gas company; and the management of 37 limited partnerships which have raised and invested over $1.2 billion in flow-through shares of resource companies.