Fairfax’s Under Armour Stake Furthers ‘Canada’s Berkshire’ Play

Fairfax Financial Holdings Ltd.’s acquisition of a big stake in Under Armour Inc. has seen the struggling apparel-maker’s shares stage a partial comeback, as the Canadian insurance firm builds on a playbook akin to Berkshire Hathaway Inc.’s investment strategy.

Toronto-based Fairfax was founded in 1985 by Indo-Canadian Prem Watsa, sometimes called the “Warren Buffett of the North.” The firm has a track record of acquiring significant stakes in a diverse range of businesses, including insurers, retailers and hospitality firms.