The management of Lincluden Investment Management reached an agreement with parent company Old Mutual Asset Management to buy back Lincluden’s equity, confirmed Philip R. Evans, president and CEO of the value equity and fixed-income manager.
Terms of the deal, which could close by “late fall,” aren’t being disclosed, Mr. Evans said in a telephone interview.
As of June 30, Lincluden had $3.2 billion in assets under management. Old Mutual currently owns 100% of the Canadian firm’s equity.
Mr. Evans said his management team is “excited about the opportunities for the future.”
Peter Bain, president and CEO of OMAM, couldn’t immediately be reached for comment.