Purpose eyes alternatives shake up with innovative new platform

The Toronto-based asset manager unlocks access to private assets including three funds that were previously unavailable in Canada

Purpose eyes alternatives shake up with innovative new platform

Purpose Investments hopes to shake up Canada’s alternative investment space with the launch of a new comprehensive private assets platform.

The Purpose Private Asset platform was announced at 8.30am this morning (Apr. 4) and coincides with the firm debuting three private asset funds that were previously unavailable in Canada.

The new platform will streamline the entire process of investing in best-in-class global alternative asset funds and give eligible Canadians access to some of the best alternative managers, institutional due diligence, and intuitive educational tools.

Stats from CAIA and KKR show that retail investors typically allocate less than 5% of their portfolios to private assets, one tenth of the allocations of the largest institutional investors, because of barriers to access the market.

“We all recognize the importance that alternative strategies play in building higher-quality investment portfolios, and we believe it’s time for Canadian investors to have the advantage of accessing institutional-grade private asset managers and strategies in their portfolios,” said Som Seif, CEO and founder of Purpose. “This year, we’re leading the way to democratize alternatives investing to help more people benefit from this asset class.”

Purpose has formed a strategic partnership with CAIS, the leading alternative investment platform for independent financial advisors in the United States.

This will power the new platform’s educational tools and – along with Mercer – provide the reports and monitoring for due diligence.

New funds

The Purpose Private Asset platform will include a carefully curated set of alternative asset funds, chosen for their good management and historical performance.

For the first time in Canada, there will be access to   Purpose Pantheon Private Equity Fund (managed by Pantheon Ventures), Purpose Apollo Private Credit Fund (managed by Apollo Global Management), and Purpose Bluerock Private Real Estate Fund (managed by Bluerock Real Estate).

“As established leaders in liquid alternatives strategies, we’re proud to pioneer new solutions to accessing private investments in Canada with the launch of our Private Asset platform featuring pedigreed funds from Apollo, Pantheon, and Bluerock,” said Tyler Meyrick, Head of Corporate Strategy & Private Assets at Purpose. “This platform leverages our proven track record of asset management innovation to offer a unique new set of tools and products to the Canadian market.”