Stone to Acquire Marquest Mutual Funds

July 2, 2018

On June 25, 2018, Stone Investment Group Limited announced an agreement to acquire mutual funds of Marquest Asset Management Inc.


Under the terms of the agreement, Stone Investment Group Limited (“Stone”) will acquire the management contracts of fourteen named retail mutual funds belonging to Marquest Asset Management Inc. (“Marquest”).  The transaction is expected to close on August 31, 2018, subject to regulatory and securityholder approvals.  Further terms of the deal were not disclosed.

Marquest is a Toronto-based Canadian investment firm that provides asset and wealth management services for both individual and institutional investors.

Stone is an independent Canadian-owned financial services company specializing in providing investment services to Canadian retail investors as well as family offices, endowments, and foundations. Stone has approximately $508.3 million in assets under management as of March 31, 2018.

To read the press release: please click here.


Categories

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