Dundee Wealth Management Inc. reports that its subsidiary, DWM Inc., has signed a letter of intent to acquire all of the shares of Crescent Capital Corp. Crescent, which is based in Calgary, is the manager of the Dominion Equity Resource Fund Inc.

Crescent’s VP, Dean Prodan, will join the Dundee Wealth group, continuing to manage the Dominion Equity Resource Fund Inc., which has close to $40 million of assets under management, as well as acting as a portfolio manager for both the Canada Dominion Resources Group and the CMP Group of companies.

The CMP Group pioneered the creation of limited partnerships for flow though shares in the 1980s and since 1983 CMP limited partnerships have raised over $1.4 billion through 22 limited partnerships.

Prodan has over 15 years of experience in the Canadian oil and gas and capital markets. He has advised some of the largest pension and mutual funds in North America and was a founding shareholder of FirstEnergy Capital Corp.


The transaction is subject to all necessary approvals and completion of definitive documentation.

“Dean has a great reputation and his knowledge of the Canadian oil and gas market will make him a valuable addition to the Canada Dominion and CMP organizations”, said James Hutton, president and COO of Canada Dominion Resources Group.