Letko Brosseau
Investment Fund
From Wikipedia, the free encyclopedia
Letko, Brosseau & Associates Inc. is a Canadian investment management firm. As of 2021[update], the firm managed $19 billion in assets for more than 420 institutional investors and several thousand private clients.[2]
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1987[1] |
| Founders | Daniel Brosseau Peter Letko |
| Headquarters | , |
Area served | Canada |
| Products | Investment funds |
| Services | Investment management |
| AUM |  C$19 billion (2021)[2] |
Number of employees | 84 |
| Website | www |
The firm has offices in Montreal, Toronto and Calgary. As of 2021[update], Letko Brosseau has added $13.2 billion in excess return over the weighted average of all clients' benchmarks since inception.[1]
History
The company was founded in 1987 by Daniel Brosseau and Peter Letko who met while working at the investment division of CN.[1]
Letko Brosseau exited the ownership of WestJet in 2019, after Onex Corporation took the company private for $31 a share.[3] It was once a significant investor in the ill-fated British construction firm Carillion.[4]
In December, 2019, the firm rejected Jim Pattison's $16-a-share cash bid to acquire lumber company Canfor, saying the offer undervalued the company. Letko Brosseau held 4.8% of Canfor stock as of December, 2019.[5]
Letko Brosseau has been a major shareholder of Air Transat for many years owning nearly 20% of the company, while currently owning 12%.[6] Letko Brosseau helped guide the firm through acquisition negotiations with Air Canada which had raised its offer from $14 per share to $18 per share in 2019, the deal fell through in 2021 due to regulatory issues in the EU as well as impacts of covid-19 on travel.[7][8]