AGF to commit an additional $75 million to a closed-end fund managed by InstarAGF in its infrastructure strategy
TORONTO, Jan. 14, 2019 (GLOBE NEWSWIRE) — AGF Management Limited (AGF) announced today a $75 million commitment to a closed-end fund managed by InstarAGF Asset Management Inc.’s (InstarAGF) that invests in North American, middle-market infrastructure. InstarAGF, which is an integral element of AGF’s growing alternatives business strategy, is an independent alternative asset management firm with deep infrastructure expertise.
“AGF has a strategic priority to develop an alternatives platform, including infrastructure, with an aim to further diversify our business,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “The attractiveness of this business stems from the fact that underlying assets are uncorrelated to our core business.”
AGF’s alternatives business includes distinctive investments like the flagship InstarAGF Essential Infrastructure Fund I (EIF 1) – which achieved its final close in June 2017 with $740 million in aggregate equity commitments from institutional and high net worth investors in Canada, Europe, the United Kingdom and United States – and Stream Asset Financial LP, which is focused on structured equity investments in midstream oil and gas infrastructure and achieved its final close at $210 million in September 2014.
“AGF’s commitment to InstarAGF’s middle-market infrastructure strategy further demonstrates the progress we are making towards our stated strategic goals and increasing the scale of AGF’s alternatives business,” added McCreadie.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With nearly $36 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
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