Sentry Select buys hedge fund Waterfall Investments

Date: Wednesday, September 17, 2008
Author: Frank Pingue, Reuters.com

Canada's Sentry Select Capital Corp said on Monday September 8th it has acquired hedge fund manager Waterfall Investments Inc through a subsidiary it created with C.A. Bancorp .

Sentry did not disclose the financial terms of the deal.

Sentry, which managed more than C$6 billion ($5.7 billion) in assets as of June 30, said it has a 66.7 percent interest in Waterfall with C.A. Bancorp holding the remaining 33.3 percent.

Waterfall manages four hedge funds: Vanilla L.P., Neutral L.P., Tipping Point L.P. and Neutral Offshore Ltd, and was started in 2004 by Andrew McCreath.