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CI Financial buys stake in hedge fund

Globe & Mail – CI Financial Corp. is venturing further into the Canadian hedge fund arena, saying it has bought a “significant minority interest” in fledgling firm Lawrence Park Capital Partners Ltd.

It is the second equity investment by the mutual fund giant in the alternative strategy space. In 2010, it took a 35-per-cent stake in Toronto-based Red Sky Capital Management Ltd. This firm now has $58-million in assets in its equity-oriented Red Sky Partners hedge fund.

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