Mackenzie Investments Acquires Environmental Thematic Investing Firm Greenchip Financial
Toronto-based investment management firm Mackenzie Investments announced that it has entered into an agreement to acquire Canadian environmental investment firm Greenchip Financial Corp.
Greenchip was founded in 2007, on the thesis that changing demographics, resource scarcity, and environmental degradation would drive historic opportunities and new risks for investors. The firm currently manages an investment strategy with a global energy transition theme, and oversees more than $485 million in assets on behalf of foundations, endowments and Canadian families, including $315 million sub-advising the Mackenzie Global Environmental Equity Fund.
Barry McInerney, President & CEO, Mackenzie Investments, said:
“We’re delighted to welcome Greenchip as our newest investment boutique focused on environmental thematic investing. Canadians have historically had limited options available for investing in the environmental sectors. We believe that Greenchip’s investment strategy and expertise in energy transition and on climate change will help us meet the growing demand of both retail and institutional investors.”
According to Mackenzie Investments, Greenchip’s long-term investment performance is top quartile among environmental thematic mandates. The firm’s investment process starts with an exclusive focus on companies whose revenues are generated from selling products within the environmental sectors that aim to support the transition towards sustainable forms of energy, including renewable energy, energy efficiency, clean technology, water, sustainable agriculture, and transportation.
John Cook, Co-Founder and President of Greenchip Financial, said:
“Directing capital to sustainable infrastructure and environmental solutions has never been more important. Partnering with Mackenzie is not just a great cultural fit – it will enable us to take our sector expertise to a much broader group of investors.”
McInerney added:
“The acquisition of Greenchip is a natural evolution reflecting the success of Greenchip’s sub-advisory relationship to the Mackenzie Global Environmental Equity Fund. The Fund has been growing very rapidly, and we expect this to continue as our internal research suggests that 80 per cent of financial advisors prioritize environmental or climate related factors in their selection of SRI investing products.”