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Former P.M.’s investment fund partners with Nunatsiavut Group
Dec 09, 2013
Universal Helicopters has been sold to the Nunatsiavut Group of Companies, with the help of a private investment fund founded by former Prime Minister Paul Martin.
The deal was signed on Monday morning in Happy Valley-Goose Bay, Labrador. Martin was on hand for the signing.
“This is one of the largest deals involving aboriginal Canada of this type that have been done,” said Martin. ”And it’s a very significant deal.”
The Nunatsiavut Group of Companies is the business arm of the Nunatsiavut government, the Inuit government in Labrador. The CAPE Fund, which stands for Capital for Aboriginal Prosperity and Entrepreneurship, is a $50-million private fund run by Martin and his son. The third investor is the Tasiujatsoak Trust.