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Waterous fund acquires two-thirds of Northern Blizzard Resources Add to ...

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A fund founded by Adam Waterous, the former Bank of Nova Scotia investment banker, has acquired two-thirds of Northern Blizzard Resources Inc. for $244-million, putting more Canadian oil assets back in domestic hands.

Waterous Energy Fund said it bought the shares from a pair of U.S. private-equity firms, Riverstone Holdings LLC and NGP Capital Management LLC, for $3.60 apiece, marking the fund’s second investment since its founding earlier this year.

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