Real estate focused asset management firm Slate Asset Management has a prominent new shareholder.
Goldman Sachs Asset Management’s Petershill program has acquired a minority stake in the Toronto-based firm, positioning the alternative asset management firm for future success.
“Slate Asset Management is an incredibly innovative, dynamic real-estate focused alternative asset management platform,” said Robert Hamilton Kelly, Managing Director, Goldman Sachs Asset Management Petershill program. “We are big believers in the strategy, the team and the model. We are excited to partner with Slate as they work to capture the opportunities before them.”
The investment is passive and non-voting and will have no impact on the control or decision making of Slate. But it provides capital that the firm will use to expand its platform.
Slate has a stated mission to become the leading independent alternative investment platform in real estate and real assets. Since it was founded it has completed over $11 billion of transactions across Canada, the U.S. and Europe
The firm’s founders, Blair and Brady Welch, have made a long-term commitment to the business as part of the Goldman Sachs transaction.
“Since we started Slate nearly 15 years ago, we have showed that we can build tremendous value by providing our investors with a unique perspective, focusing on the fundamentals of the assets we acquire and delivering hands-on management that is innovative and creative,” said Blair Welch. “With our new relationship with Goldman Sachs, Brady and I are enthusiastic about what all of us at Slate can accomplish together over the next decade and beyond.”
