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File photo of Jon Love, Managing Partner, KingSett Capital.
File photo of Jon Love, Managing Partner, KingSett Capital.
(Tibor Kolley/The Globe and Mail)

Surprise peacemaker helps defuse InnVest faceoff with activist

An unexpected peacemaker has emerged to help end the short, sharp battle over the future of InnVest Real Estate Investment Trust.

The REIT said Thursday that it had settled with the activist investor who had been demanding change at Canada’s biggest publicly traded hotel owner. The surprise twist is the appearance of Canada’s largest real estate private equity firm, KingSett Capital, which had been a quiet shareholder of InnVest and helped broker the deal.