AGF Management Limited acquired a 51% majority interest in Kensington Capital Partners Limited, a leading Canadian alternative investment firm with $2.6 billion in assets under management, for $45 million. This strategic investment, part of AGF's effort to expand its private markets business, allows Kensington to maintain its operational independence while gaining strategic support from AGF. Kensington, known for its diversified investment strategy and innovation in private equity funds, aims to accelerate growth with AGF's backing. The transaction, expected to close in fiscal Q2 2024 pending regulatory approvals, will increase AGF Private Capital's fee-earning assets to $4.6 billion. Kensington's Senior Managing Directors will continue in their roles, joined by AGF's leadership on Kensington's Board, with Ash Lawrence as Chairman. The deal could include an additional earn-out payment if certain growth targets are met. Stikeman Elliot LLP and National Bank Financial Inc. advised AGF, while Goodmans LLP advised Kensington on the transaction.