Corient has signed a deal to acquire Letus Private Office — its fourth European acquisition since last fall. Based in Paris, Letus serves high-net-worth individuals and families across Europe, managing and administering roughly US$5 billion in assets. In a release, Corient, a U.S.-based subsidiary of CI Financial, said the acquisition would push its overall assets to US$523 billion. When the deal closes, Letus’s principals will become Corient partners. The terms of the transaction were not disclosed.
Corient also recently announced plans to expand into Canada.
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BMO is acquiring the mining-focused capital markets business of Australian firm Euroz Hartleys Group Ltd. Terms of the deal, which is expected to close in the fourth quarter, were not disclosed. The deal will combine BMO’s metals and mining business with “one of Australia’s premier equity distribution platforms,” enhancing its ability to serve clients where capital is forming, according to a release. Euroz Hartleys Group’s private wealth business will remain independent, entering into a strategic alliance agreement with BMO to preserve the relationship between the capital markets and private wealth businesses and support continued collaboration.
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Empower, a subsidiary of Great-West Lifeco Inc., is acquiring Millman, Inc.’s retirement plan and benefits administration business for US$340 million. The deal will bring US$130 billion in client assets across 1.5 million participants, as well as a leading proprietary defined-benefits administration platform. Millman, an actuarial and consulting firm, is based in Seattle. The transaction is expected to close in the second half of the year.
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In June, Desjardins Financial Security Life Assurance Co. and CanAssistance Inc. signed a 10-year strategic partnership. As part of the deal, CanAssistance has also acquired Assistel Inc., which specializes in assistance services, including travel, roadside, legal and health. CanAssistance is a subsidiary of not-for-profit Canassurance Hospital Service Association. Terms of the transaction, which is expected to close in 12 months, were not disclosed.
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Mortgage technology and financing platform nesto has raised $302 million to fund its expansion and invest in its technology and AI capabilities. La Caisse, Fidelity Investments Canada ULC and PICTON Investments are among the new investors in the Montreal-based fintech. Existing investors including National Bank of Canada’s corporate venture capital arm, Fonds de solidarité FTQ and Fondaction, also participated in the financing, which valued nesto at close to $1.5 billion.
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KKR, the Kuwait Investment Authority (KIA), tech giant Nvidia and power generation company Vistra have launched Helix Digital Infrastructure, a new company aimed at meeting demand from hyperscalers amid growing AI investment. Helix has more than $10 billion in long-duration capital commitments, including from its anchor investors. It will also be open to additional eligible institutional investors. According to a release, Helix will invest in and manage assets critical to enabling AI, aiming to be a single coordination point for hyperscalers’ data centres, power, connectivity and related needs.
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Montreal based fintech Nuvei has signed a deal to buy Nasdaq-listed Payoneer for $2.75 billion in cash. The transaction is expected to close in mid-2027. Payoneer is a cross-border business payments platform with a focus on emerging markets business. In a release, Nuvei said the deal would combine its “leading payment acceptance capabilities” with Payoneer’s cross-border payouts, multi-currency accounts and banking network, and same-day and real-time settlement in more than 150 markets. It will also strengthen its ability to support emerging financial models, including agentic commerce, stablecoin payments and platform-native financial services, Nuvei said.
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Shareholders of renewable energy producer Boralex Inc. have approved a deal to be acquired by Brookfield Infrastructure Fund V and La Caisse, originally announced in March. The transaction values Boralex at $9.7 billion and is expected to be completed in the fourth quarter, after which Boralex shares will be delisted.
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Hungerford Capital has announced the public launch of its Seven Generations Growth Fund, which will invest in workforce and market housing, mixed-use projects, and light industrial developments across major urban centres in Canada. It so far has $75 million in committed equity capital from endowments, foundations, pensions, fund of funds, economic development corps, trusts and family offices and others, including RBC. The fund, which will seek “to build real estate developments through Indigenous collaboration that aspires to support economic development and capacity for Indigenous communities,” according to an RBC release, is open to accredited investors until December.
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Prevention insurance company Alan announced a $780-million financing round in June, led by tech investor Prosus. Ontario Teachers Pension Plan also participated in the financing round for the third time since 2022. Alan plans to use the proceeds to expand in Canada, doubling its headcount in the next 24 months. It now serves 100 Canadian employers and over 4,100 members.
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Greater Montreal’s automated light rail system, Réseau express métropolitain (REM), has raised $1.85 billion through its first green bond issuance. REM is owned by CDPQ Infra, a subsidiary of Quebec-based investment fund La Caisse. In a release, CDPQ reported strong investor interest across maturities (between five and 30 years) and noted the green bond issue is among the largest ever completed for a public transit infrastructure project.