Walter Global Asset Management and Innocap enter into a business agreement
Walter Global Asset Management and Innocap Investment Management Inc. (“Innocap”) are pleased to announce that they have entered into a business agreement, as part of the official launch of Walter Global Asset Management (“Walter GAM”), a new North American private equity platform based in Montreal that specializes in the asset management sector.
As announced in June, Walter GAM is targeting an initial capital of $100 million from institutional and private investors, including a contribution of $40 million from the Walter Group, and the participation of Walter GAM’s President and Chief Executive Officer, Sylvain Brosseau.
Under this agreement, Innocap will act as an advisor and notably provide due diligence services, integrate and coordinate various external service providers and actively manage treasury as well as operational and financial risks, bringing independent governance to Walter GAM’s activities.
“We are pleased to count on Innocap’s expertise. They are a solid partner that shares Walter Group’s strong entrepreneurial spirit and values of excellence and innovation,” said Sylvain Brosseau, President and Chief Executive Officer of Walter Global Asset Management. Innocap is a Québec-based firm with a global reach, that will use its expertise to benefit investors and to help deploy capital and grow the platform, while ensuring full transparency for all our fund’s activities.”
“This agreement with Walter Global Asset Management combines the platform’s unique ecosystem with Innocap’s know-how in developing customized investment programs. It also reflects Innocap’s commitment to developing new business opportunities and pursuing its growth and expansion by partnering with innovators who have a long-term vision,” said François Rivard, Innocap’s President and Chief Executive Officer.
Walter GAM will announce today their priorities and perspectives to members of Québec’s financial community. The firm plans to complete an initial round of financing within the next few months and announce its first acquisitions by the end of 2019.
Benefiting from its expertise and state-of-the-art technology, Innocap is a global leader in the managed accounts industry, as well as in operational, financial and regulatory risk management solutions. As at October 31, 2018, the company and its subsidiaries managed US$6.7 billion in assets for institutional investors, financial institutions and fund managers in North America, Europe and Asia. Innocap is jointly owned by BNP Paribas, Caisse de dépôt et placement du Québec and the management team.
About Walter Global Asset Management
Launched in 2018, Walter Global Asset Management is a North American private equity platform that provides development capital and expertise to innovative, growth-oriented boutique asset management firms and strategic service providers, with an approach that allows them to be true partners. Walter Global Asset Management is part of Walter Financial and the Walter Group, a business ecosystem that has been flourishing for more than 60 years.