Slate Asset Management, a global alternative investment platform targeting real assets, announced an agreement to acquire Presima Inc., a Montreal-based investment manager with $1.1 billion in assets under management. The Transaction will further scale Slate’s investment management business, which it launched in 2018 with the inception of Slate Securities, an investment management platform specializing in real estate investing across the public and private real estate markets.
Presima is a specialist asset manager focused on global real estate securities. The firm’s first investment strategy was launched in 1999 and today offers one of the longest track records of performance in the industry. Over more than two decades, Presima has scaled its homegrown platform to launch a number of global investment solutions aimed at meeting a wide range of client needs. The firm’s comprehensive offerings in global REITs include concentrated relative strategies, as well as mandates focused on yield and enhanced yield. The firm also manages real assets and listed infrastructure portfolios. All of Presima’s strategies include a strong consideration for environmental, social and governance (“ESG”) risk management. The firm was an early pioneer in ESG incorporation and mandates and today has a near decade long track record in sustainable investments.
“We have been extremely impressed with the team at Presima and the sophisticated global offerings, data infrastructure, and client base they have grown out of Montreal over the last twenty years,” said Blair Welch, Founding Partner at Slate. “Our firms share many of the same cultural values and a similar strategic vision for the future, creating a strong sense of alignment and a solid foundation for growth. We look forward to welcoming the Presima team to Slate and working closely together to continue building a leading real estate solution for allocators.”
Fraser McEwen, Partner at Slate Securities, added: “Slate Securities was founded on the principle that real estate opportunities arise in both public and private markets. We have proven that thesis with our performance over the last several years, and we see an exciting opportunity to join with the team at Presima and leverage the impressive infrastructure, technology, and client solutions they have established to continue identifying compelling investment opportunities in the public markets.”
The Transaction will deepen Slate’s presence in North America with a new office in Montreal and add a team of 19 dedicated professionals to Slate’s growing platform.
“Slate’s global reach, experienced leadership and access to resources will enable us to unlock new avenues of growth and maximize the talent and expertise of our team,” said Marc-André Flageole, Interim CEO at Presima. “We are very pleased to be joining the Slate platform and look forward to enhancing our institutional client offerings, to continue to offer customized real estate investment solutions, and to provide our funds to a broader range of clients leveraging Slate’s network and local distribution capability.”
The Transaction is expected to close by the end of the second quarter of 2022, subject to regulatory and other customary closing conditions. Stikeman Elliott LLP served as legal advisors to Presima. Slate was advised by McCarthy Tétrault LLP. Financial terms were not disclosed.
Source: Slate Asset Management