AGF has signed an agreement to acquire about 80% of London, Ontario-based Highstreet Partners Limited, which manages $4.8 billion in assets, for an undisclosed amount.

The current management team at Highstreet—whose clients include pension plans and corporate investors—will continue to own approximately 20% of the firm.

Upon completion of the deal, AGF’s private investment group will manage more than $11 billion in institutional and private client assets. Total assets under management will rise to $46 billion.

“Highstreet is an outstanding acquisition for AGF,” says Blake Goldring, chairman and chief executive officer of AGF. “It provides us both executive leadership and complements our investment management expertise.”

To comment on this story email craig.sebastiano@rci.rogers.com.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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