- Guardian Capital Group (GCG) has completed its acquisition of a 70 per cent stake in US-based investment firm Agincourt Capital Management
- The deal was announced on August 14, 2020, and is expected to increase the company’s assets under management by roughly C$9.29 billion
- It follows the company’s similar acquisition of Salt Lake City-based Alta Capital Management in early 2018
- Agincourt will continue to provide its services to US investors, while its previous owners will hold the remaining 30 per cent stake
- Guardian Capital Group (GCG) is currently up 1.43 per cent to $24.75 per share
Guardian Capital Group (GCG) has completed its acquisition of a 70 per cent stake in US-based investment firm Agincourt Capital Management.
The deal was announced on August 14, 2020, and is expected to bolster Guardian’s assets under management by approximately C$9.29 billion while diversifying its investment offerings and solidifying the firm’s commitment to gain traction in the lucrative US investment market.
Headquartered in Richmond, Virginia, Agincourt has built a reputation over the last 20 years as a leading manager of high-grade bond portfolios, both in core US fixed income investment mandates and in portfolios that invest across the maturity spectrum.
With its previous owners holding the remaining 30 per cent stake, Agincourt will continue to offer its services to investors in the United States. These previous owners have also indicated their intention to re-invest a portion of the proceeds they will receive into Guardian’s shares.
George Mavroudis, President and CEO of Guardian Capital Group, said he is excited by the opportunities presented in partnering with the Agincourt principals.
“Guardian’s strategic plans look to strengthen our presence and distribution networks in the United States and globally, by geography and investment solutions.
“Agincourt will help fulfill these aims, and will be accretive to Guardian’s consolidated earnings,” he added.
The acquisition follows a similar deal that was struck with Salt Lake City-based Alta Capital Management in early 2018. George said the success of that partnership, given the same alignment he sees in joining with Agincourt, offers confidence in advancing the company’s US-focused strategy.
Guardian Capital Group (GCG) is currently up 1.43 per cent to $24.75 per share