Raymond James said today it is to acquire Cougar Global, which has $1 billion in assets under management as at end-2014.

Raymond James Financial is to acquire Cougar Global Investments, a Toronto-based asset manager, subject to approval by Canadian regulators.

Terms of the deal were not disclosed.

Founded in 1993, Cougar Global is a global asset allocation ETF strategist for high net worth individuals, families, foundations, trusts and institutions in Canada and the US.

Raymond James’ wholly-owned subsidiary Eagle Asset Management will offer Cougar’s global asset allocation strategies to Eagle clients globally. Eagle has over $30 billion in assets under advisement from institutional, mutual fund and high net worth clients.

After closing and the receipt of required regulatory approvals, Cougar will become a wholly-owned subsidiary of Raymond James Financial and a sub-advisor of Eagle.