Sentry Capital, C.A. Bancorp Buy Toronto Hedge Fund

Sep 9 2008 | 12:24pm ET

Canadian mutual fund firm Sentry Select Capital Corp. is getting into the hedge fund business.

Sentry and C.A. Bancorp have acquired Waterfall Investments. Terms of the deal were not disclosed, but Sentry, which manages some C$6 billion (US$5.7 billion) in assets, will own two-thirds of the joint subsidiary and C.A. Bancorp one-third.

Toronto-based Waterfall currently runs four hedge funds and was founded four years ago by Andrew McCreath, formerly of Synergy Mutual Funds.

 


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