Raymond James Financial has signed a definitive agreement to purchase Toronto-based asset manager Cougar Global Investments.
Raymond James has not yet disclosed the value of the deal, which is subject to approval by Canadian regulators.
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Following the closing of the deal, Eagle Asset Management, a wholly owned subsidiary of Raymond James, intends to offer Cougar’s global asset allocation strategies to Eagle clients across the globe.
Cougar Global managed over $1bn in assets as of 31 December 2014. The firm markets its investment services to high-net-worth individuals, families, foundations, trusts and institutions in Canada as well as the US.
Eagle Asset Management comprises over$30bn in assets under advisement from institutional, mutual fund and high-net-worth clients. Following necessary regulatory approvals, Cougar will become a wholly owned subsidiary of Raymond James Financial and a sub-advisor of Eagle.
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