AGF Management Limited (TSX:AGF.B) and Instar Group Inc. Wednesday announced the launch of InstarAGF Asset Management Inc., a new joint venture that will provide global institutional investors with access to infrastructure investment opportunities.
Based in Toronto and led by Gregory Smith, a pioneer in the infrastructure investment community, the new company will invest in and manage a range of alternative asset funds, with primary focus on infrastructure assets.
AGF will be an active shareholder in the joint venture, providing a range of operational services, working capital, and seed capital investment.
“Allocations to alternatives have been steadily increasing, and private infrastructure assets remain especially attractive to institutional investors with long-dated liabilities,” said Blake Goldring, president and CEO, AGF.
Greg Smith, a 20-year veteran in the investment, operations, acquisition, and financing of public and private infrastructure, real estate, power, and utility businesses, will lead the company. “The global market for alternative investment opportunities is expanding rapidly and we have found an ideal partner in AGF,” said.
“AGF has extensive resources to support the operating needs of this business, and their investment will allow us to focus on securing and managing a portfolio of high quality infrastructure assets,” added Gregory Smith, president and CEO, Instar Group Inc.