Independent asset manager evolves existing partnership, diversifies into private equity and venture capital
AGF is redoubling its commitment to expand into the private investment space with two key agreements.
Building on a long-standing partnership, AGF has entered into a definitive agreement and a distribution agreement with the SAF Group, under which AGF will leverage its operations and distributions reach to provide investors with unique access to unique private credit opportunities via SAF’s investment management expertise.
“Following the positive interest from our strategic partners to the launch of our innovative private credit offerings, we are thrilled to be the exclusive provider of SAF’s investment capabilities and expertise in Canada to the retail marketplace,” said Judy Goldring, president and head of Global Distribution, AGF.
Through the distribution agreement, both firms are well positioned to benefit from expected growth in the private credit investment space.
“We are excited to continue our long-term relationship with AGF as partnering has unlocked crucial additional capacity for SAF’s investment management personnel while also capitalizing on the operational scale, tenure and credibility of a firm like AGF,” said Ryan Dunfield, Founder and CEO, SAF Group.
AGF is also entering the private equity and venture capital space via a strategic partnership with First Ascent Ventures. Under the agreement, AGF will make a $30-million cornerstone investor commitment to First Ascent’s second fund, and will also be part of the fund’s Limited Partner Advisory Committee (LPAC).
“We are excited about this initial cornerstone investor relationship with First Ascent as the first step to future business and fostering a long-term relationship together,” said Kevin McCreadie, chief executive officer and chief investment officer, AGF.
Founded in 2015 by Richard Black and Tony van Marken, First Ascent targets B2B software companies with outstanding entrepreneur leaders and growing annual recurring revenues, differentiated product offerings, and top-tier customer references.
“The cornerstone investment from AGF demonstrates the confidence in the market for our second fund where we will be looking to extend our reach and to continue investing in growing enterprise software companies that are solving real technological problems for the enterprise,” said Black, who is managing partner as well as co-founder of First Ascent. “We look forward to working with the management team of AGF and to mutually create a long and prosperous relationship together.”
