By James Langton
(April 19 – 12:35 ET) – Sportfund Inc. and the Retrocom Growth Fund Inc. have received regulatory approval for their proposed amalgamation. The combined funds will continue as the Retrocom Growth Fund, with Sportfund shareholders taking shares in Retrocom.
RGF is a labour-sponsored fund established to invest in small and medium-sized companies involved in high-tech communications and fibre optics, health-care development, innovative building technologies, energy and environmental conservation and construction.
The fund is managed by Retrocom Investment Management Inc., with portfolio management from Black Investment Management Ltd. Most of its investments are in construction projects.
The Fund invests in companies that use contractors that are signatories to the sponsors’ collective agreements.
It is sponsored by the International Brotherhood of Electrical Workers, Construction Council of Ontario, the Ontario Pipe Trades Council of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States of America and Canada, the Provincial Building and Construction Trades Council of Ontario, and the Canadian Office of the Building and Construction Trades Department AFL-CIO.