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B. G., Opalesque Geneva: AGF Management Ltd has signed definitive agreement to acquire a majority interest in Kensington Capital Partners Ltd. Under the terms, AGF will invest $45m for a 51% ownership interest.
Founded in 1996, Kensington has $2.6bn in AuM and a 40-member team spread throughout Canada. The assets are managed across several active funds covering venture capital, growth equity and mid-market buyouts. The company launched Canada's first open-ended private equity fund more than 10 years ago, the Kensington Private Equity Fund.
AGF is an independent asset management firm with three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth. The company, which was founded in 1957, is headquartered in Toronto, Canada, with operations in North America and Europe. It manages nearly $43bn in assets.
The purchase of the stake in Kensington is part of AGF's strategic imperative to grow its private markets business. Kensington will retain its investment and operational independence and will receive significant strategic support from AGF. AGF's strategic investment aims to accelerate the growth of Kensington's business while preserving the core values and entrepreneurial culture ...................... To view our full article Click here
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