AGF Management Ltd. has acquired Ottawa-based investment counselling firm P.J. Doherty & Associates Co. Ltd., adding $875 million in assets under management.

This brings total AUM at AGF to $2.5 billion.

“P.J. Doherty has an exceptional track record of investment performance, consistent revenue and earnings growth and a large base of long-term clients,” Merri Jones, president and CEO of AGF Private Investment Management, said in a statement. “We are committed to upholding and building on the firm’s name and reputation.”

The acquisition of 100% of the shares of P.J. Doherty & Associates was a cash transaction. Terms were not disclosed.