Company type | Private |
---|---|
Industry | Financial services |
Founded | 1987 [1] |
Founders | Daniel Brosseau Peter Letko |
Headquarters | Montreal, Quebec, Canada |
Products | Investment funds |
Services | Investment management |
AUM | C$19 billion (2021) [2] |
Number of employees | 84 |
Website | www |
Letko, Brosseau & Associates Inc. is an investment management firm. It was founded in 1987 by Daniel Brosseau and Peter Letko who met while working at the investment division of CN. [1] As of 30 June 2021, the firm managed $19 billion in assets for more than 420 institutional investors and several thousand private clients. [2] The firm has offices in Montreal, Toronto and Calgary.
Letko Brosseau has a long track record of successful investing and is generally considered[ according to whom? ] among the top independent investment firms in Canada.[ citation needed ] Letko Brosseau has added $13.2 billion in excess return over the weighted average of all clients' benchmarks since inception. [1]
Letko Brosseau exited the ownership of WestJet in 2019, after Onex Corporation took the company private for $31 a share. [3] It was once a significant investor in the ill-fated British construction firm Carillion. [4]
In December, 2019, the firm rejected Jim Pattison's $16-a-share cash bid to acquire lumber company Canfor, saying the offer undervalued the company. Letko Brosseau held 4.8% of Canfor stock as of December, 2019. [5]
Letko Brosseau has been a major shareholder of Air Transat for many years owning nearly 20% of the company, while currently owning 12%. [6] Letko Brosseau helped guide the firm through acquisition negotiations with Air Canada which had raised its offer from $14 per share to $18 per share in 2019, the deal fell through in 2021 due to regulatory issues in the EU as well as impacts of covid-19 on travel. [7] [8]
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