OMERS to buy minority interest in Purpose Investments

OMERS Platform Investments, an affiliate of Ontario Municipal Employees Retirement System, has agreed to acquire a minority equity stake in Purpose Investments Inc, a Toronto-based provider of exchange traded funds, mutual funds and other investment vehicles. The terms of the deal, expected to close today, were not released. Purpose was founded in 2012 by President and CEO Som Seif. Seif said the partnership with OMERS will supply the firm "with the capital we need to advance our business faster and further." Purpose currently oversees $3.3 billion in assets.

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