Kindle Capital Group has joined InstarAGF, an independent alternative asset management firm with an emphasis on North American middle-market opportunities in the infrastructure sector and other alternative asset categories.
Kindle, an independent investment firm focused on leading and managing groups of Canadian institutional investors in infrastructure syndication and co-investment opportunities in North America and globally, will continue to own and direct its existing investments and current mandates, representing approximately $500 million in assets under management. InstarAGF will support Kindle with asset management and administrative services.
George So, a seasoned infrastructure professional and Kindle's founder and Managing Partner joins InstarAGF as a Partner where he will originate investment opportunities for the InstarAGF Essential Infrastructure Fund and manage transaction and financing processes. Alex Jerome, formerly a Vice President with Kindle, joins InstarAGF as Vice President.
Gregory J. Smith, President and Chief Executive Officer of InstarAGF, stated:
"We are delighted to welcome George and Alex to InstarAGF given their exceptional track record in sourcing, acquiring and managing high quality infrastructure assets, and delivering attractive returns to investors. With our extensive experience, deep strategic relationships, access to significant North American deal flow and proven execution capability, InstarAGF's infrastructure platform is well placed for continued growth."
According to Gregory J. Smith, InstarAGF's Essential Infrastructure Fund has plans to raise between CAD$400 million and CAD$450 million in its first close by late 2015. The fund has a target size of CAD750 million and it will be capped at CAD1 billion. InstarAGF's Essential Infrastructure Fund which will be focused on North American middle-market opportunities in the infrastructure sector, has currently received interest from from pension funds, insurance companies and other institutional asset managers.
Blake C. Goldring, Chairman and Chief Executive Officer of AGF, commented:
"We are pleased with the growth and progress of InstarAGF's alternatives platform, which diversifies AGF's investment capabilities and product offering for institutional, high net worth, and retail clients globally. InstarAGF has assembled an outstanding team and pipeline of investment opportunities, which positions us to achieve the first close of the InstarAGF Essential Infrastructure Fund later this year."
InstarAGF, which makes direct investments and co-investments with like-minded investors and strategic partners, is a joint venture between Instar Group Inc. and AGF Management Limited, one of Canada's largest independent investment management firms with approximately CAD$33 billion in assets under management through its various subsidiaries.
In January 2015, InstarAGF and its consortium partners in Nieuport Aviation Infrastructure Partners GP acquired the passenger terminal at Billy Bishop Toronto City Airport. The terminal, a premier essential infrastructure asset, is a cornerstone investment of InstarAGF's Essential Infrastructure Fund.