Toronto asset manager sells its Australian fund arm for a bigger stake in a growth partner
Calvert said the deal would let the firm grow its Australian business “in a more sustainable way” by building the distribution team and bringing GSFM closer to “Munro’s partnership model.”
Munro’s investment management team, investment philosophy, and investment process will not change as a result of the transaction.
Marc-André Lewis, president and chief investment officer of CI GAM, said in the announcement that the transaction creates “a more diversified, scalable platform” for the two firms in the Australian and Canadian markets.
Lewis said the deal reflects a relationship the firms have built over many years.
GSFM’s Australian distribution team and funds management operations will be integrated with the Munro team once the acquisition closes, the two firms said, and will continue to distribute GSFM funds.
