GMP Capital Trust, an independent securities and investment banking firm in Vancouver, British Columbia, is starting an asset management business.
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GMP Investment Management aims to have about $100 million of assets under management in its first fund by the end of next year. GMP Capital Trust said it will contribute $20 million of its own capital to launch the fund, which will target wealthy investors and institutions.
Jason Marks, previously with TD Securities, will run the new business, GMP Capital said Monday.
