MONTREAL, ON– Nymbus Capital has completed the acquisition of the assets of Perseus Capital, a private alternative investment management firm using a quantitative macroeconomic approach. This represents a second major strategic transaction for Nymbus in the fourth quarter of 2020, following the merger in November with Landry Investment Management.
These transactions bring together three Montreal-based companies with the objective of building a new generation investment firm in Quebec. The entire client base, intellectual property and team of Perseus join Nymbus, further strengthening the firm’s quantitative expertise. Supported by the addition of Mathieu Poulin-Brière to the new management team, synergies also include the addition of a systematic economic analysis platform that will migrate to the technologies developed by Nymbus.
This association with Perseus Capital completes a partnership dating back to 2015, when Perseus Capital became a minority shareholder of Nymbus. Jean Turmel, President of Perseus, is also the former president of National Bank Financial and the former Chairman of the Board of Directors of the Ontario Teachers Pension Plan, one of the largest pension funds in Ontario. Turmel remains a shareholder and will bring considerable expertise in his new role as Chairman of Nymbus. Jean-Luc Landry will, in his role of vice-president, will be supporting Turmel in his function on the Board.
The management team will continue to be led by Marc Rivet and Gabriel Cefaloni as co-CEO, with Cefaloni also assuming the role of Chief Investment Officer. “Mister Turmel has been a partner of Nymbus for several years. We are very pleased to add his team to our ranks and to be able to rely on his vast experience to guide our future strategic decisions. He brings immediate credibility as well as significant leadership with over 40 years of experience in high-level finance,” said Marc Rivet.
The three firms are combining their operations under the Nymbus Capital banner and will have assets under management of approximately $450 million as of the first quarter of 2021. “This is an exciting time for the firm and for the entire team! Our traditional and alternative fixed income strategies have performed very well, ranking in the top 5 percent of managers in 2020 for the second year in a row. We plan to consolidate each firm’s expertise and integrate our technological advances across all of our investment strategies in order to bring the firm to compete against the large Canadian firms,” commented Gabriel Cefaloni, co-president and chief investment officer of Nymbus.
About Nymbus Capital
Nymbus is an investment management firm, specializing in fixed income and alternative investments, that uses a science-based and technology-driven approach to advise institutional and high net worth private investors. The portfolio managers seek investment innovation at the intersection of technology, data and finance. The firm uses modern technologies such as artificial intelligence, big data and distributed computing to develop thoughtful and modern investment solutions. For more information about Nymbus, visit www.nymbus.ca.
About Perseus Capital
Founded in 2005, Perseus Capital is a private portfolio management firm specializing in alternative investments using a quantitative macroeconomic approach. Combining capital protection, growth and diversification elements, the systematic multi-strategy portfolio developed by Perseus uses derivatives as well as conventional assets and is mainly aimed at sophisticated private wealth and institutional investors.
About Landry Investment Management
Landry Portfolio Management, founded in 2002, is an asset manager that uses a combination of fundamental and quantitative investment strategies. The firm combines value and momentum (“VALMO”) approaches in the management of traditional and alternative Canadian, US and global equity mandates available to both institutional and private clients. For more information on Landry, visit www.landryinvest.com.