Canadian money manager Purpose Investments lifted out an institutional partners team from LOGiQ Asset Management, said a Purpose Investments spokesman.
The LOGiQ Institutional Partners team is now fully integrated into Purpose Investments and led by Barry Morrison, senior portfolio manager, and with Michael McNabb and Yvette Antoniak, has about $300 million in assets under management for high-net-worth and institutional clients in dividend equity, fixed income and real estate. The $550,000 cash transaction closed Thursday. Mr. McNabb and Ms. Antoniak's titles were not immediately available.
Purpose Investments has $4.9 billion in assets under management, and LOGiQ Asset Management had about $3.4 billion in AUM as of Dec. 31.