AGF Management Limited has announced it will increase its economic ownership in New York-based multi-strategy firm New Holland Capital to 50% as part of a broader push into alternative investments.
The Toronto-based asset manager said it will exercise option rights under its existing agreements, converting a convertible note into equity and adding a further $20 million cash investment. The transaction is expected to take effect on May 29, 2026.
The move builds on an initial partnership struck in February 2024, when AGF invested via its alternatives arm, AGF Capital Partners, taking a structured stake initially set to convert into a 24.99% economic interest.
Since that initial investment, New Holland Capital’s assets under management have risen 44%, climbing from $5.4 billion to $7.8 billion, driven by expansion in investment teams, risk infrastructure and the launch of a new trading affiliate.
AGF said the increased ownership is expected to be modestly accretive to earnings in the near term, with longer-term benefits coming from operating leverage as the platform scales. The firm also retains options to further increase its stake beyond 50% over time.
Despite the deeper ownership structure, New Holland Capital will continue to operate independently under its existing leadership team, including CEO and co-CIO Scott Radke, co-CIO Bill Young, and president Nick Rontiris. AGF Capital Partners head Ash Lawrence will remain involved in a strategic oversight role.
Executives from both firms said the partnership has supported expansion while preserving New Holland’s investment culture, with AGF highlighting diversification benefits for its broader asset and client base.
Bond market sell-off prompts uptick in private credit shorts
Hedge funds and other investors are increasing bearish bets against private credit as a prolonged selloff in global bonds raises fresh…
More
Trillion-dollar hedge fund borrowing boom drives Wall Street prime brokerage profits
The rapid expansion of hedge fund borrowing has become a major source of revenue for Wall Street banks, as firms including Citadel,…
More
Rokos up 4.2% in September as macro hedge funds navigate bond rout
Rokos Capital Management gained 4.2% in September as its macro strategy capitalised on volatile global bond markets, lifting the hedge…
More