Deal increases depth of talent, provides scale, and enhances client-service offering, says CEO
Forstrong Global Asset Management has announced the acquisition of 100% of Shaunessy Investment Counsel’s (SIC) outstanding shares.
The deal aims to build on Forstrong’s reputation as a leading independent global macro asset manager. Established in 2001, the firm actively manages global investment portfolios to capitalize on macroeconomic, geopolitical and world trends for some of Canada’s largest financial institutions and individual investors.
Tyler Mordy, CEO & CIO, said in a press release that SIC has a strong alignment with Forstrong’s investment philosophy, corporate culture and vision. “Combining the two firms increases the depth of our investment management team, provides additional scale and resources to build on the firm’s operational structure, and, ultimately, broadens and enhances our client service offering,” he said in a press release.
Founded by industry veteran Terry Shaunessy in 2001, SIC was created to provide a highly specialized investment counsel service for high-net-worth families and institutional clients.
“This partnership immediately provides both scale to our firm and enormous benefits to our clients, along with a dedicated and esteemed global macro manager,” Shaunessy said. “Our common values, shared investment philosophy and entrepreneurial corporate culture make this an excellent fit for us and our clients,” he added.
There will be no changes to Forstrong’s existing staff. James Garcelon will join the firm as President, while Terry Shaunessy will join Forstrong’s investment committee. The combined entity will continue to offer its distinct global investment expertise to financial professionals, institutions, and individual investors.
