Canada-based Alberta Investment Management (AIMCo) has purchased a minority stake in DFG Investment Advisers, a New York-based asset manager with nearly $2bn in corporate and structured credit assets.
The financial terms of the transaction were not revealed.
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AIMCo has been working with DFG since 2009 as part of its fixed income strategy. AIMCo manages about $85bn of assets on behalf of 27 pension, endowment and government funds in Alberta.
DFG currently serves an institutional client base in North America and Asia and is strengthening its global clientele.
AIMCo chief investment officer Dale MacMaster said: "I am pleased that this transaction will deepen the relationship between the two organizations."
AIMCo senior vice president of public equities Peter Pontikes said: "DFG’s unique expertise in structured and alternative credit products positions them well to capitalize on opportunities that have arisen due to recent regulatory changes."
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By GlobalDataDFG founder and managing partner Volkan Kurtas said: "As investors, both AIMCo and DFG appreciate the privilege of managing our respective clients’ funds, and together we will continue to strive to add value."
