National Bank of Canada announced the purchase of Vancouver-based Truvera Trust Corp., through its subsidiary Natcan Trust Co., earlier this month. The deal will expand its wealth management presence in Western Canada, building on its existing wealth management services serving the region, which include National Bank Financial Wealth Management and Private Banking 1859. National Bank plans to integrate Truvera gradually to ensure clients get service continuity.
Terms of the transaction were not disclosed, but it will not have a material impact on the bank’s financial position, according to a release.
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Alberta Investment Management Co. (AIMCo) and CCMP Capital Advisors will sell Ontario-based real estate management company BGIS to Veritas Capital. AIMCo originally invested in BGIS in 2019 and has expanded BGIS’s global presence since. The companies didn’t disclose the deal’s terms.
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Hazelview Investments Inc. announced the first close of its Hazelview Canadian Multi-Residential Fund VI, raising $150 million in equity commitments. Investors include Canadian institutional and private capital.
The closed-end fund focuses on residential rental assets in urban markets in Ontario, Alberta, Quebec and Nova Scotia, with a seven-year investment horizon. Hazelview targets a second closing for mid-2027.
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Calgary-based Greenfire Resources Ltd. has signed a deal to buy Connacher Oil & Gas Ltd. for $1.3 billion in cash. Connacher is a private thermal oilsands company with a 100% interest in the producing Great Divide oilsands project, next to Greenfire’s Hangingstone assets. The acquisition is expected to close in August. It will boost Greenfire’s 2026 production to around 34,000 barrels of oil per day.