Toronto, Ontario–(Newsfile Corp. – May 2, 2022) – Lorne Park Capital Partners Inc. (TSXV: LPC) (“LPCP“) is pleased to announce that it has, through its wholly-owned subsidiary Bellwether Investment Management Inc. (“Bellwether“), made capital contributions into two partnerships.
Bellwether contributed $1,570,000 to Fife Bay Financial LP (“Fife Bay“), an Ontario limited partnership, governed pursuant to a limited partnership agreement dated January 18, 2019. Fife Bay has $120 million in assets under management, all of which are currently being managed by Bellwether.
Bellwether also contributed $782,413 to Scugog Financial LP (“Scugog“), an Ontario limited partnership, governed pursuant to a limited partnership agreement dated August 14, 2020. Scugog has $90 million in assets under management, all of which are currently being managed by Bellwether.
As consideration for the contributions, Bellwether was granted admission as a limited partner to each partnership and granted certain strategic rights and privileges under each limited partnership agreement, including the right for Bellwether to remain the investment manager over the assets of the partnerships, and the right of first refusal in the event the partnerships receive a third party offer for the assets. The two transactions are expected to be accretive to EBITDA in the aggregate amount of approximately $0.4 million on an annual basis.
About Lorne Park Capital Partners Inc.
LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to affluent investors, foundations, estates and trusts. LPCP’s unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.
About Bellwether Investment Management Inc.
Bellwether is a boutique investment manager that offers tailored investment solutions for affluent investors, foundations, estates and trusts utilizing its proprietary “Disciplined Dividend Growth” Investment Process. Bellwether provides discretionary investment management focused on North American Dividend Growth investing and is dedicated to serving the distinct needs of affluent families. Bellwether’s suite of investment solutions includes Canadian, US and global equity and fixed income strategies. Bellwether is a subsidiary of LPCP, and is registered as a portfolio manager in Alberta, British Columbia, Manitoba, Nova Scotia, Ontario, Quebec and Saskatchewan, an exempt market dealer in Alberta, Ontario and Quebec, and an investment fund manager in Ontario and Quebec.
For further information, please contact:
Chief Executive Officer
Lorne Park Capital Partners Inc.
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This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan”, and other similar expressions. Forward looking information in this news release includes, without limitation, LPCP’s objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management’s current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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