On March 1, 2016, Foresters Life Insurance Company announced that it had entered into an agreement to acquire Aegon Capital Management and Aegon Fund Management.
Foresters Life Insurance Company, a wholly owned subsidiary of Foresters, will acquire Aegon Capital Management and Aegon Fund Management (“ACM” and “AFM”, respectively) from Proj Fox Acquisition Inc., a holding company. Through the acquisition, Foresters will obtain about CAD $10 billion in Canadian fixed income and equity assets resulting in a total amount of funds under management of CAD $44 billion.
The transaction is expected to close in May 2016 and is subject to Canadian regulatory approvals.
Foresters is an international financial services provider with more than three million clients and assets of almost $14 billion as of December 31, 2015.
ACM was founded in 2002 and manages more than CAD $10 billion in institutional and asset liability matching investments.
AFM was founded in 2002 and manages and administers the imaxxFunds to Canadian investors.
To read the press release: please click here.