Investment manager

Slate Asset Management to buy specialist investment manager for $1.1 billion

The Canadian company Slate Asset Management has sign an agreement to buy the Montreal company specializing in investment management Presima.

The deal, the financial terms of which were not disclosed, will further strengthen Slate’s investment management business.

Presima is a specialist asset manager focused on global real estate securities. After launching its first investment strategy in 1999, the company’s strategies are said to have a strong focus on managing environmental, social and governance (ESG) risks.

The company currently offers a number of global investment solutions through its in-house developed platform. Its global REIT offerings cover yield and enhanced yield mandates as well as focused relative strategies.

Slate Founding Partner Blair Welch said, “We have been extremely impressed with the Presima team and the sophisticated global offerings, data infrastructure and customer base they have developed from Montreal over the of the past twenty years.

“Our companies share many of the same cultural values ​​and a similar strategic vision for the future, which creates a strong sense of alignment and a solid foundation for growth. We look forward to welcoming the Presima team to Slate and working closely together to continue building a leading real estate solution for dispatchers.

Following the acquisition, Slate will expand its presence in North America with a new office in Montreal and the addition of 19 employees to its platform.

Marc-André Flageole, interim CEO of Presima, said: “We are very excited to join the Slate platform and look forward to improving our offerings to our institutional clients, continuing to deliver personalized real estate investment solutions and provide our funds to a wider range of clients leveraging Slate’s network and local distribution capability.

The transaction is expected to close by the end of the second quarter of 2022, subject to regulatory approvals.

Last year, Slate Asset Management bought the commercial real estate business of Annaly Capital Management in a $2.33 billion deal.

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