hand painting symbols of alternative energy sources in green
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Mackenzie Financial Corporation has entered into an agreement to acquire Toronto-based Greenchip Financial Corp., an environmental investment firm that manages more than $485 million for foundations, endowments and families.

Greenchip, founded in 2007, invests thematically in the global energy transition and is the sub-advisor of the Mackenzie Global Environmental Equity Fund, which holds $315 million in assets managed by Greenchip.

“The acquisition of Greenchip is a natural evolution,” Barry McInerney, president and CEO of Mackenzie Investments, said in a release. McInerney added that Greenchip’s “investment strategy and expertise in energy transition and on climate change” will help meet investor demand for responsible investment options.

Greenchip invests in companies “whose revenues are generated from selling products within the environmental sectors that aim to support the transition towards sustainable forms of energy,” the release said. Top sectors include renewable energy, energy efficiency, clean technology, water and sustainable agriculture.

“Directing capital to sustainable infrastructure and environmental solutions has never been more important,” John Cook, co-founder and president of Greenchip, said in the release.