OMERS-backed Purpose to buy LOGiQ's retail fund business
Purpose Investments Inc has agreed to acquire the retail fund business of LOGiQ Asset Management Inc (TSX: LGQ), a Toronto-based asset manager. Purpose agreed to pay $32.9 million for retail asset management contracts held by LOGIQ. The deal is expected to close by the end of December, subject to the approval of shareholders and other conditions. Toronto-based Purpose has more than $3.4 billion in assets under management and offers exchange traded funds, mutual funds and other investment products. In May, the firm received a minority equity investment from OMERS Platform Investments.
11 September 2017•5 mins read
