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Canadian Asset Manager Buys Northern Rivers

Nick Parmee

17 December 2009

Canadian alternative investment company BluMont Capital has acquired Toronto-based investment management firm Northern Rivers Capital Management. The purchase is expected to close in February 2010, subject to regulatory approval.

BluMont, a subsidiary of Canada-based Integrated Asset Management, offers retail investors products aimed at diversification and return potential outside traditional equity and fixed income investments.

Northern Rivers, founded in 2001, offers specialised investment funds, including an innovation fund, a conservative growth fund LP and a global energy fund.

Robert Blakely, president of Northern Rivers, said he expects the firm’s funds to benefit from economies of scale at IAM.

IAM has approximately $2 billion in assets and committed capital under management in real estate, private corporate debt, private equity, managed futures and retail alternative investments.