Goldman Sachs unit invests in Toronto-based Slate Asset Management

TORONTO - Goldman Sachs' asset management-focused unit has taken a minority stake in Toronto-based alternative investment firm Slate Asset Management LP.

Slate announced a passive, non-voting minority equity investment from Goldman Sachs Asset Management's Petershill program, but did not disclose the financial terms.

The Toronto-based firm with a focus on real estate and real assets says it will use the U.S. banking giant's investment to enhance its platform, as well as increase certain investments.

Slate says the day-to-day operations and management of the company will remain unchanged.

Slate has more than $6 billion in assets under management, and has completed more than $11 billion of transactions across Canada, the U.S. and Europe.

Goldman's Petershill program provides strategic capital to mid-sized asset management firms and has investments in more than 20 companies.