Walter Global Asset Management (WGAM), the private equity unit of Canadian investment group Walter Financial, is acquiring a minority stake in Madryn Asset Management, a US manager that focuses on investments in healthcare innovation.
WGAM is paying an undisclosed sum for the stake, its tenth acquisition since it began operating five years ago. According to CEO Sylvain Brosseau, this is the company’s first acquisition in the US, having completed deals in Canada and Europe.
WGAM’s model of investing in a diverse range of asset managers has seen it partner with Montreal-based equity manager LionGuard Capital Management and private credit shop Kilgour Williams Capital.
New York-based Madryn, which has deployed more than $1bn since its inception, provides credit and equity to healthcare and life sciences firms.
