Gluskin Sheff + Associates has completed the purchase of entire outstanding shares of Blair Franklin Asset Management Holdings, the parent company of Blair Franklin Asset Management.
Under the terms of the transaction, Gluskin Sheff + Associates will reimburse $15,000,000 in cash as well as 1,900,000 common shares of the company to the sellers, subject to certain customary adjustments.
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Following the acquisition, Blair Franklin’s managing director & CIO Peter Zaltz will assume the post of executive vice-president & head of fixed income and will also be appointed to Gluskin Sheff’s Management Committee.
Additionally, Thomas MacMillan, chair of Blair Franklin, will be named as a director to the Gluskin Sheff + Associates board.
Jeremy Freedman, president & CEO of Gluskin Sheff, said: "Blair Franklin has a remarkable track record, and we are confident that combining their unique talents, experience and processes in fixed income investing with our own will be of great benefit to the clients of both firms."
Canada-based Blair Franklin was set up in 2003. Operating as a boutique asset management firm, Blair Franklin specializes in fixed income and has nearly $625 million in assets under management.
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By GlobalDataFounded in 1984, Gluskin Sheff + Associates is a Canada-based wealth management firms serving high net worth private clients and institutional investors.
