Montrusco Bolton started the new year with a new management structure: the Montreal-based asset management firm is now majority owned by employees, while Walter Global Asset Management (GAM) has taken a minority stake.
In an emailed response to questions, Walter GAM said it had acquired its stake solely from AMG and Fonds de solidarité FTQ, long-time shareholders in Montrusco Bolton. The Westmount, Que.-based private equity firm said it now holds a more than 40% stake in the firm.
It will hold its investment in Montrusco Bolton through its specialized asset management industry fund.
“Montrusco Bolton fits perfectly with our fundamental investment criteria, which are reflected in the 14 other complementary firms in our portfolio: independent companies, led by high-quality teams, with whom we share a long-term vision,” Sylvain Brosseau, CEO and founding partner of Walter GAM, said in a release.
Terms of the deal, which closed on Dec. 31, were not disclosed. However, Florida-based AMG said in a release that it received roughly $35 million for its interest.
At the end of 2025, Montrusco Bolton had $17.7 billion in assets under management (AUM). It serves institutional clients in Canada, the United States, Europe, Asia and Australia.
“With a simplified shareholder structure that offers greater agility and a partner like Walter GAM at our side, we are well positioned for the future,” said Sylvain Boulé, president and CEO of Montrusco Bolton, in a release.
He added that the partnership with Walter GAM was a “natural fit for us, due to its expertise, entrepreneurial culture, client focus and long-term commitment.”
In an email, Walter GAM said that in addition to providing growth capital, it “offers strategic expertise in key areas including distribution and marketing, business strategy, human capital development and operational excellence.”
It confirmed its 15 underlying portfolio firms have a total value of about $1 billion, and more than $185 billion in AUM.