Walter Capital Management has announced a minority investment in Evovest, a Montreal-based portfolio management firm that uses AI and machine learning in its investment selection process.
No financial details have been disclosed.
“[W]e believe that innovation is a key driver of performance and differentiation, even in investment management,” said René Fournier, CEO and chief investment officer of Montreal-based Walter Capital Management, in a release. “We have been closely following Evovest for several years and are excited to work with a team whose investment process clearly stands out in the industry.”
Evovest was founded in 2017. The firm selects equity investments via a combination of fundamental analysis and machine learning, according to the release. CEO and founder Carl Dussault will remain in his position.
The portfolio management firm offers multiple strategies, including global equal-weighted equity, global market-cap weighted equity and global market neutral, according to its website. In 2024, Evovest added an ESG offering based on exclusion lists.