Richmond Hill, Ont.-based Global Growth Assets Inc. has entered into an agreement to acquire the assets of MineralFields Group in Toronto and its affiliates, Pathway Asset Management and EnergyFields Group, subject to regulatory approval. MineralFields and EnergyFields are energy resources funds providing tax-advantaged flow-through limited partnerships to investors. Over the 10-year history of MineralFields and Pathway, these funds have financed several hundred mining and oil and gas exploration companies, raising more than $1 billion. Global Growth will maintain MineralFields’ current business model. The new trade names for the companies will include the Global name (for example, Global MineralFields Group). Global Growth is part of the Global group of companies, which includes investment dealer Global Maxfin Capital Inc. and mutual fund dealer Global Maxfin Investments Inc.

SSQ/AXA done deal

Quebec City-based SSQ Life Insurance Co. Inc. has completed its acquisition of Toronto-based AXA Life Insurance Inc. from Toronto-based Intact Financial Corp. AXA Life will now be called SSQ Insurance Co. Inc. and will continue to offer individual insurance products and specialized group insurance products from its offices across the country. SSQ Life is a part of SSQ Financial Group, which has more than $8 billion in assets under management.

Sporting Fairfax

Toronto-based Fairfax Financial Holdings Ltd. has acquired a 75% stake in Sporting Life Inc., a retailer of sporting goods and apparel, also of Toronto. Fairfax is a financial services holding company engaged in property and casualty insurance, reinsurance and investment management. Says Prem Watsa, chairman and CEO of Fairfax: “[The] acquisition is consistent with our interest in acquiring strong, established franchises from entrepreneurial founders who want to find a long-term home for their business.”

Western buys Roblin

High River, Alta.-based Western Financial Group has acquired Roblin Insurance Travel and Realty Agencies Ltd. of Roblin, Man. Western Financial is a financial services company with more than 600,000 clients and more than 120 offices in Western Canada.

Compiled by Fiona Collie
(fcollie@investmentexecutive.com).