Letko, Brosseau & Associates Inc. is a Canadian

investment management firm Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified inve ...

. , the firm managed $19 billion in assets for more than 420 institutional investors and several thousand private clients. The firm has offices in

Montreal Montreal is the List of towns in Quebec, largest city in the Provinces and territories of Canada, province of Quebec, the List of the largest municipalities in Canada by population, second-largest in Canada, and the List of North American cit ...

Toronto Toronto ( , locally pronounced or ) is the List of the largest municipalities in Canada by population, most populous city in Canada. It is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a p ...

and

Calgary Calgary () is a major city in the Canadian province of Alberta. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806 making it the third-largest city and fifth-largest metropolitan area in C ...

. , Letko Brosseau has added $13.2 billion in excess return over the weighted average of all clients' benchmarks since inception.

History

The company was founded in 1987 by Daniel Brosseau and Peter Letko who met while working at the investment division of CN. Letko Brosseau exited the ownership of

WestJet WestJet Airlines, is a Canadian airline headquartered in Calgary, Alberta. Founded in 1994, it is the second-largest airline in Canada and the eighth-largest airline in North America by frequency. It began operations in 1996 with 220 employee ...

in 2019, after

Onex Corporation Onex Corporation is a Canadian investment management firm founded by Gerry Schwartz in 1984. In September 2024, it had $50 billion dollars under management. History Schwartz founded Onex in 1984 and took the company public in 1987. In Jun ...

took the company private for $31 a share. It was once a significant investor in the ill-fated British construction firm

Carillion Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018. Carillion was created in July 1999, following a ...

. 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. Letko Brosseau has been a major shareholder of

Air Transat Air Transat () is a List of airlines of Canada, Canadian airline headquartered in Montreal, Quebec. Founded in 1986, it operates scheduled and charter flights serving 60 destinations in 25 countries. Air Transat is owned and operated by Transa ...

for many years owning nearly 20% of the company, while currently owning 12%. Letko Brosseau helped guide the firm through acquisition negotiations with

Air Canada Air Canada is the flag carrier and the largest airline of Canada, by size and passengers carried. Air Canada is headquartered in the borough of Saint-Laurent in the city of Montreal. The airline, founded in 1937, provides scheduled and cha ...

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.

References

{{reflist Institutional investors Investment management companies of Canada