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The consideration for the sale will be a combination of cash and Innocap shares, allowing BNY Mellon to own a minority equity stake in Innocap's combined US$50 billion global platform, which focuses on helping institutional allocators access their investments through managed account services providing customized investment solutions, meaningful control, increased transparency, and operational alpha over their investment portfolios.

BNY Mellon will join tenured Innocap reinvesting shareholder Caisse de dépôt et placement du Québec (CDPQ), BNP Paribas and management of both Innocap and HedgeMark as shareholders at closing. In addition, the shareholder base will include new institutional investors Fonds de solidarité FTQ and Walter Global Asset Management. Through this transaction, this reputable group of shareholders recognizes that platform investing is an increasingly important way to access alternative investments.

This transaction will combine Innocap's agile global alternative investment business with BNY Mellon's scalable HedgeMark, the industry's largest hedge fund managed account platform and leading risk services business.

The transaction is subject to normal closing conditions and regulatory approval, and is expected to close in the first half of 2022.

Full press release:

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