Business
AGF announces receipt of special distribution from Stream Asset Financial LP
TORONTO , July 28, 2015 /CNW/ - In 2014, AGF Management Limited (AGF) announced plans to...
About this update from Agf Management Limited Class B
[{"type":"text","content":"\n\n\nTORONTO, July 28, 2015 /CNW/ - In 2014, AGF Management Limited (AGF)\n announced plans to introduce an alternatives business as part of the\n firm's growth strategy. One of the first initiatives included the\n creation of a general partner platform and a related investment in\n Stream Asset Financial LP (Stream).\n\n\nIn September 2014, the Firm announced that Stream, a midstream oil and\n gas infrastructure Fund had achieved its final close. The Fund was\n oversubscribed with equity commitment of approximately $210 million\n with AGF having a $50 million commitment as a cornerstone investor. The\n fund is 60% invested, approximately 75% allocated, and expects to\n deploy the remainder of the committed capital over the remainder of\n 2015.\n\n\nIn July, Stream monetized its seed asset in the midstream energy fund. \n In connection with that transaction, AGF has received proceeds of $16\n million in the form of a special distribution.\n\n\n\"We are pleased with the progress of our developing alternatives\n business,\" said Blake C. Goldring, President and Chief Executive\n Officer, AGF Management Limited. \"With Stream, our alternatives\n business marked its entry into Canada's midstream energy sector\n partnering with the talented investors at Stream.  We are very happy\n with the performance to date and for the returns that will benefit the\n shareholders of AGF.\"\n\n\nAbout AGF Management Limited \n\n\nAGF Management Limited is one of Canada's premier independent investment\n management firms with offices across Canada and subsidiaries around the\n world. AGF's products include a diversified family of mutual funds,\n mutual fund wrap programs and pooled funds. AGF also manages assets on\n behalf of institutional investors including pension plans, foundations\n and endowments as well as for private clients. With approximately $35\n billion in total assets under management, AGF serves more than one\n million investors. AGF trades on the Toronto Stock Exchange under the\n symbol AGF.B.\n\n\nSOURCE AGF\n\n\n\n Media Contact Pamela Marchant Vice-President, Marketing & Communications 416-815-6205 [email protected] Copyright CNW Group 2015","length":2944,"tagName":"div"}]