Mackenzie Financial has agreed to purchase Canadian firm Greenchip Financial, an environmental investment manager.

Financial terms of the agreement were not disclosed.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The deal builds on Greenchip’s sub-advisory relationship with the Mackenzie Global Environmental Equity Fund, which oversees $315m in assets.

Greenchip manages over $485m on behalf of foundations, endowments and Canadian families.

The firm focuses on companies who generate revenue from selling products within the environmental sectors to facilitate the transition towards sustainable forms of energy.

This covers sectors, namely renewable energy, energy efficiency, clean technology, water, sustainable agriculture, and transportation.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mackenzie president and CEO Barry McInerney said: “Canadians have historically had limited options available for investing in the environmental sectors. We believe that Greenchip’s investment strategy and expertise in energy transition and on climate change will help us meet the growing demand of both retail and institutional investors.”

Greenchip co-founder and president John Cook added: “Directing capital to sustainable infrastructure and environmental solutions has never been more important.

“Partnering with Mackenzie is not just a great cultural fit – it will enable us to take our sector expertise to a much broader group of investors.”

Founded in 1967, Mackenzie offers investment solutions to over one million retail and institutional clients.

It is a subsidiary of Canadian financial services company IGM Financial.

This September, Mackenzie and Great-West Lifeco agreed to take a non-controlling stake in Northleaf Capital Partners, a Toronto-based private equity, private credit and infrastructure fund manager.

In comparison, Greenchip is a much newer firm established in 2007.