AGF Management Limited Has Made a Strategic Investment in New Holland Capital
13 February 2024 - 12:00AM
AGF Management Limited (“AGF”) today announced that it has made a
strategic investment in New Holland Capital, LLC (“NHC”, “New
Holland” or the “Firm”), a New-York based multi-strategy investment
manager with more than US$5 billion in assets under management and
more than 17 years of experience providing institutional investors
with absolute return investment strategies across the liquidity
spectrum. The investment in NHC is a significant step in AGF’s
strategy to continue growing AGF Capital Partners*—AGF’s
diversified alternatives business with capabilities across both
private assets and alternative strategies.
Under the terms of the arrangement, AGF will make an initial
strategic investment in the form of a note convertible into a
24.99% economic interest in NHC. The arrangement also provides AGF
with the option to subsequently increase its ownership stake.
“We look forward to partnering with New Holland as we continue
to build and grow our alternatives business,” said Ash Lawrence,
Head of AGF Capital Partners. “The addition of New Holland and its
expertise in absolute return-focused investments diversifies AGF
Capital Partners’ alternatives capabilities and avenues for
growth.”
NHC’s flagship Tactical Alpha multi-PM investment strategy
focuses on identifying alpha-generating opportunities in both
fundamental and quantitative strategies in liquid markets. The Firm
seeks to balance market diversification and capital preservation
through absolute return-focused investments. NHC also manages a
Special Opportunities strategy that invests in non-correlated niche
credit opportunities, including specialty finance and real assets
infrastructure. Additionally, the Firm partners with institutional
investors to deliver customized absolute return investment
solutions.
“We believe that AGF Capital Partners is the ideal partner to
accelerate our long-term growth,” said Scott Radke, New Holland
Capital’s Chief Executive Officer. “With the support of their
strong platform and broad distribution channels, we can continue to
deliver attractive risk-adjusted returns to our clients to help
meet their unique portfolio objectives and execute on our strategic
business plan. This investment is an exciting and important step
forward for our business and clients in the evolution of New
Holland.”
NHC will retain operational independence and the Firm’s existing
leadership team, led by Scott Radke, Chief Executive Officer, and a
group of nine additional partners, will continue to manage the
day-to-day investment and business operations in their current
roles. Ash Lawrence and the broader AGF team will provide strategic
support to NHC, including arrangements to facilitate near-term
joint global distribution efforts for their investment strategies
and access to AGF’s quantitative investing and data analytics
expertise.
"This investment, on the heels of our recent announcement
regarding the proposed acquisition of a majority stake in
Kensington Capital Partners Limited, supports AGF‘s strategic
vision to build a diversified alternatives business that provides a
range of innovative solutions that meet the unique needs of
financial advisors and their investors, family offices and
institutions," added Lawrence.
The growth of AGF’s alternatives business will further expand
the firm’s investment capabilities and increase management and
performance fee revenues, all of which are expected to contribute
to earnings growth.
Massumi + Consoli served as legal counsel to AGF. CBRE / Sera
Global served as exclusive financial advisor and Simpson Thacher
& Bartlett served as legal counsel to NHC in this
transaction.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent
and globally diverse asset management firm. Our companies deliver
excellence in investing in the public and private markets through
three business lines: AGF Investments, AGF Capital Partners and AGF
Private Wealth.
AGF brings a disciplined approach, focused on incorporating
sound, responsible and sustainable corporate practices. The firm’s
collective investment expertise, driven by its fundamental,
quantitative and private investing capabilities, extends globally
to a wide range of clients, from financial advisors and their
clients to high-net worth and institutional investors including
pension plans, corporate plans, sovereign wealth funds, endowments
and foundations.
Headquartered in Toronto, Canada, AGF has investment operations
and client servicing teams on the ground in North America and
Europe. With over $43 billion in total assets under management
and fee-earning assets, AGF serves more than 800,000 investors. AGF
trades on the Toronto Stock Exchange under the symbol AGF.B.
About AGF Capital Partners
AGF Capital Partners is AGF’s diversified
alternatives business with extensive capabilities across both
private assets and alternative strategies. Clients benefit
from specialized investment expertise combined with the
organizational support and breadth of resources of AGF Management
Limited. AGF Capital Partners is continually looking to
diversify and expand the business’ capabilities and alternatives
offerings to meet clients’ evolving needs.
*Formerly known as AGF Private Capital
About New Holland Capital, LLC
New Holland Capital, LLC is an alternative investment manager
that manages over $5B in absolute return strategies for
institutional clients. The firm seeks to generate alpha across a
wide set of diversifying strategies, with a preference for niche,
capacity constrained opportunities often with emerging portfolio
managers. For more information visit
https://newhollandcapital.com/.
Media Contact
Amanda Marchmentamanda.marchment@agf.com
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