Canadian private equity manager Walter Global Asset Management has purchased a minority stake in European quantitative money manager LFIS Capital.
Terms of the deal and the amount of the minority stake, which a joint news release Monday termed as "significant," were not disclosed.
It is Walter Global's third European investment, according to the news release. The deal will build on LFIS Capital's existing Canadian investments.
Money manager La Française Group, which sold its minority stake in LFIS Capital on Nov. 30, will continue to provide some administrative support functions to LFIS through 2022, the news release said.
"A strategic partnership with Walter GAM provides us with a long-term international partner as we enter the next stage of our growth into the North American market," said Arnaud Sarfati, co-founder and CEO of LFIS Capital, in the news release. "The experience and expertise of Walter GAM's team of seasoned professionals will be a major boost to our expansion efforts, and we look forward to what the future holds."
Spokeswomen for both companies could not be immediately provide further information.