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Cape Cove acquires an investment manager Calgary

by

Alain Thériault

27 November 2018 13:30

Photo : Freepik

Investment manager founded by the Québec Robert Audet, Financial Management Cape Cove has acquired a manager of Calgary, to consolidate its presence in Western canada. It is WealthTerra Capital Management.

This transaction enables to increase its presence from coast to coast, said a press release of Cape Cove, including the Journal of insurance has received a copy. It now has to be approved by theAlberta Securities Commission and theAutorité des marchés financiers. Cape Cove has its head office in Saint-Lambert, Quebec.

Now in the exempt market, and in discretionary management (as well as in mutual funds in Quebec), Cape Cove is an active manager since 2016. He already has several offices across Canada. Exempt market transactions of securities for which the issuer has no obligation to issue a prospectus. There are often flow-through shares and units of limited partnerships.

Rapid growth

Cape Cove indicates that it has grown rapidly to meet now 42 representatives across the country. “When we decided to expand our presence throughout Canada, we have targeted potential candidates who shared the same values as Cape Cove. This is exactly what we found in Nadine Wellwood, and his team of WealthTerra, ” said Robert Audet, president and CEO of Cape Cove.

Mrs. Wellwood will continue its role as an advisor and will take the position of executive vice-president of Cape Cove to the west of Canada, added Mr. Audet. “His priority will be to develop the basic representatives, and investors, mainly in Alberta and British Columbia. “To this day, Cape Cove has assets under management of $ 250 million.

Specialists of private capital

Holds an MBA in international finance from theUniversité Laval and York University, Robert Audet has worked for several banks, including, recently, the National Bank, as director of derivatives and RBC Capital Markets, the head of the Montreal office sales, foreign markets.

Nadine Wellwood is for its part financial planner (level 1 title Certified Financial Planner) and investment manager approved (title of Chartered Investment Manager, or CIM). She and her team specialize in the private equity market.

Advisors associated

Mutual fund representative and products dispensed, Danny Bergeron is also the founding chair of the firm’s insurance, Financial Radisson. In an interview to the Journal of insurance, it is said to be among the partners who have invested in the capital of Financial Management Cape Cove.

“Despite the very young age of Cape Cove (operations brokerage mutual fund and exempt market commenced in January 2018), we are already present in Quebec, Ontario, Alberta and British Columbia. “, he stressed.

RRSP and venture capital

Danny Bergeron adds that all the products developed in Cape Cove are eligible for registered accounts (RRSP, TFSA, etc) ” Cape Cove has the licence to manage its own funds. We do venture capital. We fund companies that have promising projects with private funding “, he explains.

Danny Bergeron gave the example of corporate bonds to finance Prevtec Microbia. “It is a biotechnology company that has developed vaccines for swine in order to protect the pigs in the weaning of the virus E. coli, he said. The company is a spin-off of the faculty of veterinary medicine of the Université de Montréal in St-Hyacinthe. The bonds give a return of 8 % per year. The deadline is December 31, 2021. In addition to interest of 8 %, a bonus of 10 % of the share capital is payable at maturity. This investment is now closed. “

Cape Cove has also developed a private fund focused on food and agriculture, Agro Tech Ventures 1, revealed Bergeron. Offered in two versions, 1 year and 3 years, their annual return is 10 %. The version 3 years includes a share of the profits made by the fund.

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