The Walter Group of Companies and Sylvain Brosseau join forces to launch a unique Canadian private equity platform to invest in asset management firms
The Walter Group of Companies (“Walter Group”) is pleased to announce the launch of Walter Asset Management, a new North American private equity platform specializing in consolidating the expertise of small and medium-sized players in the asset management sector. Based in Montreal, the platform will be dedicated to supporting the growth of leading asset management firms and managers. Its innovative structure will allow institutional and private investors to participate in an initial target capital raise of at least $100-million, including a contribution of $40-million from the Walter Group, and funds from the President and Chief Executive Officer of Walter Asset Management, Sylvain Brosseau.
“For over 60 years, the success of the Walter Group, including Walter Surface Technologies and Walter Financial, has enabled us to successfully invest in other companies and become their true partners,” said Pierre Somers, Chairman and Chief Executive Officer of the Walter Group of Companies. “Entrepreneurship and innovation remain at the heart of the Walter Group’s values, and those values will be at the core of Walter Asset Management.”
With the consolidation trend sweeping the asset management space, the Walter Group hopes to fill a hole in the market with Walter Asset Management. “We want to offer investment firms the opportunity to share best practices and solutions and to take advantage of various resources within Walter Asset Management, while maintaining their entrepreneurial spirit, flexibility and vision – important assets in an ever-changing world,” said René Fournier, President and Chief Investment Officer, Walter Financial. “On the other hand, by structuring Walter Asset Management as an evergreen fund, we will allow other investors interested in this asset class to participate with us in the creation of this consolidation platform.”
More than a wealth management firm
Like the other financial companies in the Group, Walter Asset Management will draw on the entrepreneurial background, financial success and know-how of the Walter Group and Sylvain Brosseau to support the investment firms that will join this unique new platform.
“With the strength of the Walter Group behind us, we will be able to create synergies for the benefit of the firms in which we invest, particularly in research, business development, information technology and human resources management,” said Sylvain Brosseau, President and Chief Executive Officer, Walter Asset Management, and member of the Board of the Walter Group of Companies. “We want to create a unique ecosystem in which investment firms have the flexibility and agility to innovate and perform while benefiting from the support of the Walter Group to reach new heights.” In addition, through its Boston office and association with the Watermill Group, Walter Asset Management has a solid foundation to acquire firms and solutions in both the Canadian and U.S. markets, and then accompany them in their growth across North America. »