Scotiabank has agreed to purchase the remaining 40% of Aurion Capital Management shares that were owned by Aurion Capital employees for an undisclosed amount.
“Consolidating our position in Aurion Capital represents an important step as we execute our strategy to grow meaningfully in the institutional space by leveraging our platform, investment talent and international reach,” says Robin Lacey, managing director and head, global institutional asset management, with Scotiabank.
In February 2011, Scotiabank acquired majority ownership of Aurion Capital through the bank’s acquisition of DundeeWealth. DundeeWealth purchased a 60% stake in Aurion Capital in July 2008.
Founded in 1996, Aurion Capital is an investment management firm originally focused on institutional investors, but now also private client and sub-advisory mandates.
Aurion Capital has $6 billion in assets under management and advises on $4.7 billion of assets in a fiduciary investment management mandate.
The transaction is subject to regulatory approvals.
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