US-based Madison Asset Management has completed the acquisition of the Toronto-based international growth equity team of Hansberger Global Investors to form a new business called Hansberger Growth Investors (HGI).
Under the terms of the deal, the international growth team will retain its investment autonomy while gaining an equity stake in its new business.
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Following the deal, Hansberger Growth Investors will operate as a stand-alone affiliate of Madison Asset Management.
The transaction will boost the assets under management of the merged firm to more than $20 billion and it will employ 110 staff, among which half of them are investment professionals.
Headed by HGI CIO Tom Tibbles, the international growth team will offer on growth-oriented international, global and emerging market equity mandates for clients including foundations, endowments, corporations and public funds.
Hansberger is a wholly owned subsidiary of Natixis Global Asset Management.
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