On October 3, 2000, the Montreal-based operation of State Street Global Advisors, Ltd. (SSgA) launched the SSgA Dow Jones Canada 40 Index Participation Fund. The Fund, an exchange-traded fund investing in shares of the 40 constituent companies that comprise the Dow Jones Canada 40 Index, will be managed by SSgA, the investment management arm of Boston-based State Street Corporation. Units are listed on the TSE.
The Caisse de dépôt et placement du Québec has made an initial investment in the fund of approximately C$200 million in the form of a private placement, and a group of leading Canadian investment dealers has subscribed an additional C$275 million worth of units within the context of an initial public offering, making it the largest IPO for an exchange-traded fund in Canadian history.
Lavery, de Billy acted for SSgA in connection with the creation of the Fund, the private placement and the public offering, with a team led by Jean Martel, who was assisted by René Branchaud, Patrick Buchholz, Johanne Duchesne, Réal Favreau and Martin Joyal, in conjunction with Rose Mark, in-house counsel for State Street Trust Company (Toronto), and its special counsel, Michael Sharpe of Blake, Cassels & Graydon LLP. Also assisting were Andy Hone and Amy Bierbaum, in-house counsel for State Street Bank and Trust Company, the Boston-based parent company of SSgA. Counsel for the Caisse was Claude Bergeron, Senior VP Legal Affairs.
The Caisse de dépôt et placement du Québec has made an initial investment in the fund of approximately C$200 million in the form of a private placement, and a group of leading Canadian investment dealers has subscribed an additional C$275 million worth of units within the context of an initial public offering, making it the largest IPO for an exchange-traded fund in Canadian history.
Lavery, de Billy acted for SSgA in connection with the creation of the Fund, the private placement and the public offering, with a team led by Jean Martel, who was assisted by René Branchaud, Patrick Buchholz, Johanne Duchesne, Réal Favreau and Martin Joyal, in conjunction with Rose Mark, in-house counsel for State Street Trust Company (Toronto), and its special counsel, Michael Sharpe of Blake, Cassels & Graydon LLP. Also assisting were Andy Hone and Amy Bierbaum, in-house counsel for State Street Bank and Trust Company, the Boston-based parent company of SSgA. Counsel for the Caisse was Claude Bergeron, Senior VP Legal Affairs.
