A Canadian firm set up three years ago with the backing of more than $250 million of its partners’ own capital has become at least the third North American alternatives firm in as many months to open a London office.

Toronto-based Alignvest Management Corporation was co-founded by Reza Satchu, a former Merrill Lynch analyst and partner at US private equity firm Fenway Partners, and Lee Lau, co-founder of computer chip maker ATI Technologies.