Lorne Park Capital Partners has signed a letter of intent (LOI) to purchase all of the outstanding securities of Crestridge Asset Management (Crestridge), an independent portfolio manager based in Toronto.
Crestridge provides discretionary investment management and wealth management services for individuals, trusts and foundations with clients across Canada. As of 31 May, 2017, Crestridge had approximately CAD120 million in assets under management.
“We are confident that we have found a new partner in Crestridge that shares similar perspectives on investment management and a commitment to delivering tailored investment solutions to affluent families,” says Robert Sewell, (pictured), Chief Executive Officer of LPCP and Bellwether.
“This proposed acquisition enhances our scale within the investment management industry by providing us with a broader suite of investment solutions and additional resources that will benefit our clients,” says Jeffrey Black, President and Chief Investment Officer of Crestridge.
“With the proposed addition of Crestridge, the combined firm will add to our presence within the GTA with an office in downtown Toronto. The addition of the Crestridge team will allow us to better serve all of our clients and work more effectively with our advisor partners,” says Steve Meehan, Chairman of LPCP and Bellwether.