Arrow Capital Acquires BluMont Capital

September 23, 2013

On September 19, 2013, Integrated Asset Management Corp. (TSX: IAM) and Arrow Capital Management announced that they have entered into an agreement whereby IAM will sell BluMont Capital Corporation, its wholly-owned subsidiary, to Arrow.


On September 19, 2013, Integrated Asset Management (“IAM”) (TSX: IAM) and Arrow Capital Management announced that Arrow will acquire BluMont Capital Corporation, IAM’s retail asset management subsidiary.  The financial terms of the transaction were not disclosed.  The acquisition is expected to close in the last quarter of 2013, subject to customary closing conditions and receipt of regulatory approvals.  BluMont provides mutual funds and other products to retail investors, with approximately $260 million in assets under management.  IAM is a Canadian alternative asset management company with approximately $1.9 billion in assets under management.  Arrow provides its clients with access to investment funds across a range of asset classes, strategies and single- and multi-manager portfolios.

To read the press release, please click here.


Categories

Investment Manager M&A, Mutual Fund M&A, Transactions