Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

2333

Canada’s VenGrowth Asset Management to sell Criterion Investments to First Asset

RELATED TOPICS​

Toronto-based VenGrowth Asset Management has signed a letter of intent to sell Criterion Investments, a mutual fund business specialising in the environment and clean technology, to Fir

Toronto-based VenGrowth Asset Management has signed a letter of intent to sell Criterion Investments, a mutual fund business specialising in the environment and clean technology, to First Asset Capital.

Criterion offers investment strategies for retail investors, particularly in the environmental area having launched Canada’s first water infrastructure fund and first global clean energy fund.

Its investment philosophy is to offer funds that can add value based on thematic trends, risk mitigation or sought-after portfolio management talent. First Asset plans to retain the Criterion brand, fund line-up and sub-advisors.

First Asset offers a variety of tax-effective investment vehicles including Toronto Stock Exchange-listed investment funds, mutual funds, principal-protected notes and flow-through limited partnerships.

Mike Cohen, managing general partner of VenGrowth, says: "Criterion is an innovative company that VenGrowth has nurtured over the past few years and we trust it will blossom within First Asset. This transaction allows VenGrowth to dedicate itself fully to its private equity business while still participating in the future success of Criterion and First Asset through a minority equity interest resulting from the transaction."

The transaction is still subject to satisfactory completion of due diligence by both parties, the completion of a definitive purchase and sale agreement and receipt of all necessary approvals and consents. Closing is expected in Q2 2009.

Latest News

Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according..
Octopus Investments (Octopus) has announced it has launched a Natural Capital Strategy...
Research firm focused on Alternative UCITS funds, Kepler Absolute Hedge, has published its Market Intelligence..

Related Articles

Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Different flavours
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led, multi-boutique global asset manager with over USD20 billion under management, recently undertook a survey with 204 UK investment professionals, seeking insights into their perceptions and attitudes towards boutique asset managers...
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led,..
UK map
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be worth billions of pounds in the coming years...
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be..
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a possible buyout of EY’s Italian consulting branch...
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by