09:48 AM EST - Tricon Capital Group Inc. : announced that it has closed a separate investment account for approximately $150 million U.S. with a large Canadian institutional investor to support the acquisition and development of the award-winning, 3,200-acre Cross Creek Ranch master-planned community in Houston, Texas. Tricon will commit approximately 10% of the required capital to the Transaction, with the balance being committed by Tricon's institutional partner and the developer of the Project. The Transaction will increase the Company's assets under management to greater than $1.1 billion, representing an increase of approximately 20% in AUM since December 31, 2011. Tricon Capital Group Inc.
shares T.TCN are trading down $0.04 at $4.30.
