AltaCorp Capital chief executive George Gosbee, who founded the Calgary-based investment firm in 2010, died Sunday, the company announced. He was 48.

“George was a force in the investment community and his loss will be felt by many,” the firm said in a statement Monday.

The well-known city financier and philanthropist launched AltaCorp after selling his Tristone Capital to Australia’s Macquarie Group for more than $100 million.

Gosbee also served as vice-chairman of Alberta Investment Management Co., which manages $90 billion in provincial government pension funds, for eight years.

In July 2013, a group of Calgary businessmen, led by Gosbee, purchased the NHL’s Phoenix Coyotes in a deal that kept the team in Arizona.

“In 21 years in the business this might have been the most complicated transaction I’ve ever worked on, but it was also the most fun,” Gosbee told the Herald.

The group put up a reported $45 million to purchase the team under a restructuring that also involved other lenders and the National Hockey League.

“George was a tremendous person and passionate hockey fan who played a key role in keeping the Coyotes in Arizona,” Andrew Barroway, the team’s owner and chairman, said in a statement.

AltaCorp said Paul Sarachman will assume the CEO’s role.

With files from The Canadian Press

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AltaCorp Capital announces death of founder George Gosbee

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