GMP Capital Trust to establish an asset management platform

    TORONTO, Dec. 17 /CNW/ - GMP Capital Trust (TSX: GMP.UN) ("GMP")
announces a strategic new initiative today with the launch of an asset
management business that will leverage GMP's reputation and core strength in
equity trading to give high net worth individuals and institutional investors
unique investment opportunities. As part of this initiative, GMP Investment
Management L.P. ("GMP Investment Management") has been established and
regulatory approvals as an Investment Counsel and Portfolio Manager have been
received. Jason Marks, a veteran financial industry executive with extensive
trading, structured product and risk management experience, will lead this new
business initiative as a principal partner. Michael Wekerle, Vice Chairman of
Institutional Trading at GMP Securities, will also act as a partner in this
new initiative providing valuable advice and oversight to the business while
continuing to provide direction and leadership on the trading floor of GMP
Securities. Timothy Lazaris, previously a financial services research analyst
at GMP Securities, will also be joining this new initiative as a partner
focusing on research and analytics. GMP Investment Management plans to launch
its first fund, GMP Diversified Alpha Fund, focused on multi-discipline
strategies, in early 2008.
    "GMP Investment Management is a logical extension of our current
operations and consistent with our stated goals of increasing our assets under
management businesses," said Kevin Sullivan, Chief Executive Officer of GMP
Capital Trust. "This initiative demonstrates GMP's commitment to our clients
and unitholders to expand our business and to best serve the needs of our
investors and clients through a robust offering of unique products and
    Jason Marks, Chief Executive Officer(*) of GMP Investment Management,
stated "We have a compelling proposition for investors seeking high quality,
experienced investment managers and disciplined, comprehensive risk management
within a strong institutional framework. The objective of the GMP Diversified
Alpha Fund is to deliver premium risk-adjusted returns throughout all business
cycles through a combination of investment strategy diversity, a disciplined
risk management approach, a focus on capital preservation and an exhaustive
analysis of investments and strategies."
    "Like our other business units, GMP Investment Management will follow a
partnership model where principals have an equity stake in the business,"
continued Mr. Sullivan. "Employee ownership is one of the defining
characteristics of GMP that operates to motivate team members and align
activities with the interests of outside stakeholders. Building and leveraging
relationships has also been a critical element to our overall success, and we
will carry this tradition into this new business. We are extremely excited by
the prospects for GMP Investment Management and look forward to building this
investment platform with our partners and clients."
    GMP Investment Management is targeting approximately $100 million in
assets under management in its first fund by the end of 2008, with further
offerings aimed at both high net worth individuals and institutional investors
in Canada expected thereafter. GMP is committing $20 million of its own
capital to support the launch of the fund and the managing partners of the
fund will also be participating.
    (*)Subject to regulatory approval.


    GMP Capital Trust carries on business through the following principal
entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Securities Europe
LLP, GMP Private Client L.P. and EdgeStone Capital Partners, L.P. GMP
Securities L.P. is a leading independent Canadian investment dealer focused on
investment banking and institutional equities for corporate clients and
institutional investors. GMP Securities L.P. can be found on the web at Griffiths McBurney Corp. services institutional clients in
the United States while GMP Securities Europe LLP provides investment banking
and institutional equity services to clients located in Europe. GMP Private
Client L.P. is a full-service investment firm focused on high-net-worth
private investors that provides wealth preservation, income and growth
strategies delivered by seasoned investment advisors. GMP Private Client L.P.
can be found on the web at EdgeStone Capital Partners,
L.P. is one of Canada's leading private equity firms, providing capital,
strategic direction and business and financial advice to help promising
mid-market and early stage companies achieve their full potential. EdgeStone
Capital Partners, L.P. can be found on the web at GMP Capital
Trust is listed on the Toronto Stock Exchange under the symbol GMP.UN. The
website is GMP Capital Trust has offices in Toronto,
Calgary, Montreal, Vancouver, Geneva and London.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" (as defined
under applicable securities laws) concerning anticipated future events,
results, circumstances, performance or expectations that are not historical
facts but instead represent our beliefs, expectations, estimates and
projections regarding future events, many of which, by their nature, are
inherently uncertain and beyond our control. These statements are not
guarantees of future performance and are subject to numerous risks and
uncertainties, including those described in the Fund's regulatory filings,
which are available on the Fund's website at and on SEDAR
at The Fund Group's primary business activities, by their nature,
are both competitive and subject to various risks. These risks include market,
credit, liquidity, operational and regulatory risks and other risk factors
including, without limitation, variations in the value of securities, the
volatility and liquidity of equity trading markets, the volume of new
financings and mergers and acquisitions, competition in the marketplace for
suitable investments, sustainability of fees, nature and type of portfolio
company investments, ability to realize carried interest entitlements and
dependence on key personnel. Other factors, such as general economic
conditions also may have an impact on the Fund Group's results of operations.
Many of these risks and uncertainties can affect our actual results and could
cause our actual results to differ materially from those expressed or implied
in any forward-looking statement made by us or on our behalf. Except as
required by applicable law, we undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new information,
future events or otherwise.

For further information:

For further information: GMP Capital Trust, Investor Relations, 145 King
Street West, Suite 300, Toronto, Ontario, M5H 1J8, Tel: (416) 367-8600, Fax:
(416) 941-0839,

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