The firm says the acquisition will expand its operations in Toronto, Canada.

Lorne Park Capital Partners has signed a letter of intent to purchase all of the outstanding securities of Crestridge Asset Management, an independent portfolio manager based in Toronto, according to local media reports.

The proposed acquisition will expand Lorne Park’s presence in Toronto within the financial services sector, the firm has said.

"We are confident that we have found a new partner in Crestridge that shares similar perspectives on investment management and a commitment to delivering tailored investment solutions to affluent families," says Robert Sewell, chief executive of LPCP and Bellwether.

As of 31 May, 2017, Crestridge had approximately CAD120 million ($93 million) in assets under management.