03:27:43 EDT Mon 20 Sep 2021
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Bank of Montreal
Symbol BMO
Shares Issued 647,059,842
Close 2021-03-22 C$ 110.76
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Post says BMO, CIBC join Roffolo's equity firm Maverix

2021-03-23 09:00 ET - In the News

Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Financial Post reports in its Tuesday edition that six months after a near-fatal accident, OMERS Ventures founder John Ruffolo has unveiled a new growth equity firm wagering big bets on legacy companies retooling for the new economy. The Post's Catherine McIntyre writes that the firm, called Maverix, is just about to close its first fund, a $500-million (U.S.) pool backed by LPS including BMO, CIBC and Mattamy Asset Management, as well as two large pension funds that have yet to be disclosed. The fund is planning to invest up to $100-million (U.S.) per transaction. Rather than back technology firms encroaching on traditional sectors, Maverix is looking to invest in legacy companies. The firm aims to take large minority shares of private companies in transportation and logistics, retail, health care and financial services, and that have never received outside investment. Mr. Ruffolo said the firm already has three prospects in its pipeline, including a company in travel, one in supply chain management, and one in transportation and logistics. Maverix has been more than three years in the making and has faced several setbacks; was most recently set to launch last fall before his cycling accident Sept. 7.

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