Canada-based AGF Management has joined forces with alternative asset management firm Instar Group to launch a new joint venture to offer global institutional investors with access to infrastructure investment opportunities.
The new company, InstarAGF Asset Management, will invest in and manage a range of alternative asset funds, with primary focus on infrastructure assets.
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The new joint venture company will be based in Toronto and will be managed by Gregory Smith, president and CEO of Instar Group.
AGF said that it will be an active shareholder in the joint venture, providing a range of operational services, working capital, and seed capital investment.
Blake Goldring, chairman and CEO at AGF, said: "This new investment capability bolsters our current product offering and will leverage our global distribution footprint."
Robert Bogart, executive vice-president and CFO at AGF, said: "The joint venture with Instar is a prudent investment of our capital that will provide AGF with a strong return while enhancing and expanding our investment capabilities."
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