Wednesday, 31 August 2016
Last updated 1 hour ago
Jun 8 2010 | 10:02am ET
Canadian hedge fund manager Ravi Sood has sold his Navina Asset Management, which runs hedge funds and mutual funds, to Aston Hill Financial.
The C$4.2 million cash-and-stock deal adds Navina’s $225 million in funds to Aston Hill, which could be on the hook for an additional C$1.8 million in payouts depending on the firm’s performance. Sood will remain with the combined firm, with the deal expected to close next month.
“The primary benefits of the acquisition to Aston Hill include the addition of Mr. Sood’s unique talents,” his new employers said.
The move comes just months after Sood arranged for Lawrence Asset Management, where he served as CEO, to acquire Navina. Lawrence founder Jack Lawrence died in a plane crash last summer.