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Sentry Select buys hedge fund Waterfall Investments

Mon Sep 8, 2008 10:36am EDT

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TORONTO, Sept 8 (Reuters) - Canada's Sentry Select Capital Corp said on Monday it has acquired hedge fund manager Waterfall Investments Inc through a subsidiary it created with C.A. Bancorp (BKP.TO).

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.

($1=$1.06 Canadian) (Reporting by Frank Pingue; Editing by Peter Galloway)



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