Purpose Investments Inc. (“Purpose”) today announced the unveiling of a truly innovative platform for alternative investments in Canada with the Purpose Private Asset Platform.
Finally, there is a way for eligible Canadians to easily access, learn about, diligence, and invest in best-in-class global alternative investment funds on a platform designed to provide access to some of the best alternative managers, institutional due diligence, and intuitive educational tools. For the platform launch, Purpose is also debuting three previously inaccessible private asset funds to the Canadian market.
“We all recognize the importance that alternative strategies play in building higher-quality investment portfolios, and we believe it’s time for Canadian investors to have the advantage of accessing institutional-grade private asset managers and strategies in their portfolios,” said Som Seif, CEO and founder of Purpose. “This year, we’re leading the way to democratize alternatives investing to help more people benefit from this asset class.”
The Purpose Private Asset Platform offers several exciting features to help modernize the alternative investment market and remove the barriers of private asset investing, including:
· Intuitive Education Tools: Through a strategic partnership with CAIS, the leading alternative investment platform for independent financial advisors in the United States, the platform brings CAIS’s alternative investment marketplace and industry-leading learning system, CAIS IQ, which is designed exclusively to help financial advisors deepen their knowledge and increase their confidence in alternative investment strategies.
· Institutional Due Diligence: In partnership with CAIS and Mercer, a leading provider of investment diligence services, the platform will provide access to in-depth diligence reports and ongoing monitoring used by institutional investors.
· High-Calibre Funds and Strategies: The platform provides access for eligible investors to a curated set of alternative funds with top-pedigreed underlying managers and strong historical performance. The initial funds on the platform include Purpose Pantheon Private Equity Fund, Purpose Apollo Private Credit Fund, and Purpose Bluerock Private Real Estate Fund. Featuring established track records, evergreen structures, and limited quarterly liquidity, the funds will be managed by Purpose while Pantheon Ventures Inc. (“Pantheon”), Apollo Global Management Inc. (“Apollo”), and Bluerock Real Estate, L.L.C. (“Bluerock”), respectively, serve as the underlying fund managers.
“As established leaders in liquid alternatives strategies, we’re proud to pioneer new solutions to accessing private investments in Canada with the launch of our Private Asset Platform featuring pedigreed funds from Apollo, Pantheon, and Bluerock,” said Tyler Meyrick, Head of Corporate Strategy & Private Assets at Purpose. “This platform leverages our proven track record of asset management innovation to offer a unique new set of tools and products to the Canadian market.”
“We are excited to partner with Som, Tyler and the rest of the Purpose team to provide eligible Canadian and institutions with access to one of the most compelling offerings across Apollo’s private credit platform,” added Earl Hunt, Partner and CEO of Apollo Debt Solutions. “We believe that directly originated, senior secured, floating rate loan investments in large cap companies offer attractive risk-adjusted returns across market cycles and particularly in the current rising rate environment.”
The largest institutional investors typically allocate 50% of their portfolios to private assets whereas the average retail investor’s portfolio has an allocation of less than 5% because of barriers to access the market.* The Purpose Private Asset Platform aims to remove these barriers to enable eligible Canadians to invest in funds they have conviction in versus ones they merely have access to.
The Purpose Private Assets Platform is the newest innovation from the asset management firm known for launching the world’s first high-interest savings ETF (TSX ticker: PSA), its award-winning active fixed-income strategies (e.g., Purpose Credit Opportunities Fund; TSX ticker: CROP), and its industry-leading structured equity funds (e.g., Purpose Structured Equity Yield Portfolio), among others. The firm’s vision for this platform does not stop here. It intends to evolve the platform into a distribution hub for the next generation of its product development in private markets, digital assets, and beyond to continue to push innovation in the financial services sector.
For more information about the Purpose Private Asset Platform and its unique set of advisor tools, industry-leading educational products, and private funds, please visit: https://www.purposeinvest.com/private-assets.
About Purpose Investments
Purpose Investments is an asset management company with over $15 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
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*The largest institutional investors are defined as investors with at least $30 million. Statistics are sourced from CAIA and KKR.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. As with any investment, there are risks to investing in investment funds. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
The content of this document is for informational purposes only, and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any representation to the contrary is an offence. Information contained in this document is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice.
Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” intend,” “plan,” “believe,” “estimate” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments and the portfolio manager believe to be reasonable assumptions, Purpose Investments and the portfolio manager cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.