| Letko, Brosseau & Associates Inc. | |
| Type: | Private |
| Foundation: | 1987[1] |
| Founders: | Daniel Brosseau Peter Letko |
| Location: | Montreal, Quebec, Canada |
| Industry: | Financial services |
| Products: | Investment funds |
| Services: | Investment management |
| Aum: | C$19 billion (2021)[2] |
| Num Employees: | 84 |
Letko, Brosseau & Associates Inc. is an investment management firm. It was founded in 1987 by Daniel Brosseau and Peter Letko who met while working at the investment division of CN.[1] As of 30 June 2021, the firm managed $19 billion in assets for more than 420 institutional investors and several thousand private clients.[3] The firm has offices in Montreal, Toronto and Calgary.
Letko Brosseau has a long track record of successful investing and is generally considered among the top independent investment firms in Canada. Letko Brosseau has added $13.2 billion in excess return over the weighted average of all clients' benchmarks since inception.[1]
Letko Brosseau exited the ownership of WestJet in 2019, after Onex Corporation took the company private for $31 a share.[4] It was once a significant investor in the ill-fated British construction firm Carillion.[5] In December, 2019, the firm rejected Jim Pattison's $16-a-share cash bid to acquire lumber company Canfor, saying the offer undervalued the company. Letko Brosseau held 4.8% of Canfor stock as of December, 2019.[6]
Letko Brosseau has been a major shareholder of Air Transat for many years owning nearly 20% of the company, while currently owning 12%.[7] Letko Brosseau helped guide the firm through acquisition negotiations with Air Canada which had raised its offer from $14 per share to $18 per share in 2019, the deal fell through in 2021 due to regulatory issues in the EU as well as impacts of covid-19 on travel.[8] [9]