Appuyez sur la touche Retour pour passer au contenu principal

Sentry Select Capital Corp. and C.A. Bancorp Inc. (TSX: BKP) acquire Waterfall Investments Inc.
2008-09-08

TORONTO: Sentry Select Capital Corp. (“Sentry Select”) and C.A. Bancorp Inc. (“C.A. Bancorp”) (TSX: BKP) are pleased to announce that, through a newly created subsidiary, they have acquired Waterfall Investments Inc. (“Waterfall” or the “Company”). Sentry Select has a 66.7% interest in Waterfall, with C.A. Bancorp holding the remaining 33.3% interest.

Waterfall Investments Inc.: Waterfall is a hedge fund manager registered as an investment counsel, portfolio manager and limited market dealer with the Ontario Securities Commission. Waterfall currently manages four hedge funds: Vanilla L.P., Neutral L.P., Tipping Point L.P. and Neutral Offshore Ltd.

Each of these funds has delivered strong performance since inception. Each fund has outperformed its respective benchmark.

Waterfall Hedge Fund

Date of Inception

Mandate

Annualized Return Since Fund Inception

 

Benchmark

Benchmark
Return Since Fund Inception

 

Neutral L.P.

Oct-04

Market Neutral

10.4%

HFR Market Neutral Index

3.0%

 

 

 

 

 

 

Vanilla L.P.

May-04

Long/Short

7.7%

S&P 500

3.2%

 

 

 

 

 

 

Tipping Point L.P.

May-04

Asian Equity and Commodities

12.1%

Morgan Stanley All Countries Asia Pacific

9.0%

 

 

 

 

 

 

Neutral Offshore Ltd.

May-04

Market Neutral

9.1%

HFR U.S. Equity Hedge

2.7%

Returns calculated as of July 31, 2008.

Waterfall’s founder and principal, Andrew McCreath, CFA, has over 20 years of experience in the brokerage community and investment management business, having worked at Lawrence and Company, Gordon Capital and Burns Fry Ltd. In 1997, Mr. McCreath helped to launch Synergy Mutual Funds where he managed the Synergy Canadian Growth Fund. Synergy Mutual Funds was sold to CI Funds in 2003, with assets under management of approximately $1.5 billion.

“Andrew McCreath is an experienced portfolio manager with a demonstrated track record,” said Sandy McIntyre, Senior Vice-President and Chief Investment Officer at Sentry Select. “Through his expertise in stock selection, the hedge funds he managed have generated solid returns from both long and short positions. We are looking forward to working with Andrew on existing and future hedge funds at Sentry Select.”

“C.A. Bancorp is committed to building an alternative asset management business and is pleased to announce this acquisition in tandem with Sentry Select,” said Mark Gardhouse, President of C.A. Bancorp. “With our experience in identifying and executing transactions in the private markets and Sentry Select’s experience in traditional asset management we were able to structure a deal that is beneficial for all parties.

“Since 2004, Waterfall has been committed to providing superior risk-adjusted returns by capitalizing on local market knowledge and taking a long-term global perspective. For that reason, I am extremely pleased to be partnering with Sentry Select. This partnership provides many significant benefits to Waterfall and its clients,” said Andrew McCreath. “Sentry Select has demonstrated strength in resources, specifically metals and mining, and oil and gas; other hard assets, such as a real estate investment trusts and high-yielding equities. Being able to leverage Sentry Select’s strength in these areas will complement our existing investment focus. Waterfall will also benefit from Sentry Select’s broad and deeper market access and superior quantitative research that is inherent with a firm of Sentry Select’s size. We can apply that quantitative overlay to our current portfolios, to help us assess changing momentum factors when screening securities, especially for paired trade ideas.”

Sentry Select Capital Corp. Sentry Select Capital Corp. is a Canadian wealth management company that manages over $6 billion in gross assets as of June 30, 2008. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

C.A. Bancorp Inc.: C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp is focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.

More information:  At Sentry Select:
Kinga Lam (media inquiries)
Tel:  1-888-246-6656   Fax: 416-364-1197   info@sentryselect.com 

At C.A. Bancorp:
Paolo De Luca, Chief Financial Officer
Tel: 1-866-388-5985       Fax: (416) 861-8166  pdeluca@cabancorp.com

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ‘‘expect’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to Sentry Select, C.A. Bancorp or Waterfall. The forward-looking statements are not historical facts but reflect Sentry Select, C.A. Bancorp or Waterfall’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry Select, C.A. Bancorp and Waterfall believe that the assumptions inherent in their respective forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. None of Sentry Select, C.A. Bancorp or Waterfall undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. The rates of return shown in this press release are used only to illustrate the effects of the compound growth rates and are not intended to reflect future values of the funds or returns on investments of the funds.


Les documents (y compris les communiqués de presse) se rapportant aux divers fonds d'investissement pour lesquels Sentry agit à titre de gestionnaire ou de conseiller ne sont fournis qu'à titre informatif. Ces documents ne peuvent être considérés comme étant exhaustifs ou exempts d'erreur sans un examen approfondi de la totalité des documents se rapportant à un fonds d'investissement en particulier disponibles sur SEDAR (www.sedar.com).