Connor, Clark & Lunn Investment Management Ltd. has teamed up with Boston-based Arrowstreet Capital L.P., to create Connor, Clark & Lunn Arrowstreet Capital Ltd., a new company that will provide global, EAFE and US equity capabilities for a wide variety of institutional clients.

CC&L Arrowstreet’s head office will be in Toronto. Dennis Perry, a senior partner with CC&L, will become its president and Bruce Clarke, managing partner and president of Arrowstreet, will be chairman. CC&L Arrowstreet aims to provide consistent added value returns through a risk controlled investment process that adapts to changing market conditions. The new company believes this represents an attractive strategy for investors in increasingly volatile financial markets.

“This new joint venture, focusing strictly on foreign investments, will help CC&L remain a strong independent money management firm”, said Larry Lunn, chairman and founding partner of Vancouver-based CC&L, “We are thrilled to be in business with an American money manager who has a remarkable synergy with us in terms of investment style and whose professionals have substantial global investment management experience combined with connections to leading academic institutions”.

“Both firms believe strongly that by pooling our capabilities we can offer the global reach that Canadian institutions are increasingly demanding”, said Bruce Clarke, “We have been very active in Canada, and this association with one of the country’s most prestigious money managers will help us serve Canadian institutions even more effectively”.

CC&L and affiliated companies have US$11.5 billion in assets under management. Arrowstreet Capital manages US$1.4 billion on behalf of a broad range of clients in North America and Europe. The firm is 70% owned by its ten principals, with CalPERS owning 15% and the Putnam Lovell Group holding the other 15%.