SciVest buys stake in Quant

Date: Thursday, May 5, 2005

SciVest Canadian Holdings has purchased a "significant interest" in Quant Investment Strategies, a Toronto-based developer of quantitative investment strategies.

"Quant has a unique quantitative investment process that will compliment SciVest's own investment process," says Dr. John J. Schmitz, president and CEO of SciVest. "Incremental value will also be created for SciVest, Quant and their respective clients as a result of significant operational and cost synergies, as well as opportunities for diversification that will result from this acquisition."

Craig Lee, one of the founding partners of Quant, will serve as president and CEO.