Jovian Capital Corporation (JOV: TSX) has acquired an additional 20% equity interest in Hahn Investment Stewards & Company Inc., the company announced on Monday.
Hahn is a wealth management company that builds and manages globally diversified portfolios for its clients using exchange-traded funds.
This acquisition has been completed through a combination of purchase of existing shares and issuance of new shares from treasury, and brings Jovian’s total interest to 70% of Hahn’s issued and outstanding voting shares, on a fully-diluted basis. The management, directors and employees at Hahn remain unchanged.
“We have been very pleased with the growth of Hahn since our initial investment in July of 2009 and remain fully committed to the fast-growing managed ETF portfolio space,” said Philip Armstrong, CEO of Jovian. “We feel that the time is right to increase our stake in Hahn and help it to continue to achieve its enormous growth potential in North America.”
Davee Gunn, president and CEO of Hahn, said the partnership with Jovian has been instrumental to Hanh’s growth.
“The support of Jovian management has allowed us to concentrate on expanding our reach across Canada, and Jovian’s additional resources will now allow us to take next steps in the development and advancement of Hahn across North America,” she said.
“We believe that our managed ETF Portfolios are revolutionizing portfolio management for investors,” said Tyler Mordy, director of research for Hahn. “We are excited about Hahn’s prospects for growth and opportunities ahead, and this transaction will help us to capture those opportunities.”
Founded by Wilfred Hahn in 2001, Hahn uses ETFs to deliver investment returns to its clients, utilizing a disciplined, cost-effective, global macro approach to managing money.