Toronto-based investment fund manager and alternative asset manager Goodwood is being acquired by wealth management firm Nour Private Management (NPM) Inc.
In a release, NPM, a holding company and affiliate of Nour Private Wealth Inc., said the deal would expand its suite of services available to its institutional and high-net-worth clients.
Goodwood, founded in 1996, offers a range of products and services to that same clientele. The firm manages four equity and credit funds, separately managed accounts, as well as segregated accounts for private investors.
Nour, founded in 2018, said in a press release that “Goodwood contributes complementary expertise.”
“Acquiring an established investment fund manager represents an exciting opportunity to broaden our capabilities and provide even more comprehensive solutions to our clients,” Nour CEO Elie Nour said in a release. “Goodwood’s experienced team and alternative investment expertise will enhance the suite of services we can offer across our group.”
Post-transaction, Goodwood will continue to operate under its current name. NPW is expected to be appointed as sub-advisor to certain Goodwood managed funds.
Terms of the deal, which is expected to close before the end of January, were not disclosed.