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January 16, 2024
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Game-Changing Asset Manager Poised for $26B Alts Firm Takeover

In a move to grow its private markets business, AGF Private Capital will acquire a majority interest in Canadian alternative investment firm Kensington Capital Partners. AGF will invest $45 million for 51% ownership of Kensington, which has $2.6 billion in assets under management and a 27-year history. The firm will maintain its operational independence under AGF’s ownership and receive strategic support from AGF. Kensington’s three senior managing directors will continue in their roles and retain 49% ownership of the firm. AGF Private Capital aims to expand its presence in the private markets space and increase its fee-earning assets to $4.6 billion with the acquisition.

Kensington offers a range of strategies in fund of funds, co-investments, and direct investing, providing exposure to private markets. This acquisition is part of AGF Private Capital’s strategy to grow its diversified private markets business and contribute to earnings growth. Kensington sees AGF as an ideal catalyst for its further growth and expansion of investments and innovative products.

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