Recapitalization transaction for Rockefeller closed in the quarter.

IGM Financial Inc. announced Q4 adjusted net earnings of $301.4 million, a 20.6% year-over-year quarterly increase and a record high.

Fourth quarter adjusted earnings per share came in at a record $1.27.

Q4 net earnings were $322.4 million, up 26.6% year over year in the quarter. Earnings per share hit $1.36.

Record annual adjusted net earnings were $1.09 billion, or $4.61 per share, up about 16% year over year. Annual net earnings were $1.1 billion or $4.64 per share, up about 18%.

Assets under management and advisement reached $310.1 billion in Q4 — up nearly 15% year over year. IG Wealth Management had assets under advisement of nearly $159 billion, a roughly 13% year-over-year increase and record quarter-end high.

IGM achieved net inflows of $2.2 billion during the quarter, compared to $244 million one year ago.

The firm’s interest in Rockefeller Capital Management is currently $1.16 billion, reflecting a fourth-quarter recapitalization transaction that involved several investors. Transaction proceeds of $394.2 million consisted mostly of a return of capital and an equity sale.

The company’s interest decreased to 17.2% due to the equity sale and adjustment to certain previously issued share-based awards which aligns Rockefeller’s management with long-term equity ownership.

IGM remains Rockefeller’s second-largest shareholder.

The firm also announced that its investment in Wealthsimple Financial Corp. was valued at $2.3 billion at the end of the quarter, up from $2.2 billion in the prior quarter due to a $100-million investment.