Calgary business leader George Gosbee died suddenly Sunday at the age of 48.

The founder and chief executive officer of investment firm AltaCorp Capital is being remembered as a force in the city's investment community.

Gosbee was a former governor of the National Hockey League and, in 2013, led a group to purchase the Arizona Coyotes and restructure the team. Gosbee was involved with several other initiatives in the span of his career.

Current Coyotes owner Andrew Barroway tweeted he was "deeply saddened" by the news.

"George was a tremendous person and passionate hockey fan who played a key role in keeping the Coyotes in Arizona," Barroway wrote.

In a statement on social media, Prime Minister Justin Trudeau paid respect to the Calgary businessman, and offered his condolences to Gosbee's family.

"Calgary has lost a great business leader, pillar of the community & philanthropist," Trudeau said.

Alberta Finance Minister Joe Ceci also tweeted his condolences, calling Gosbee "a giant of corporate Calgary."

Business leader

Gosbee founded AltaCorp Capital in 2010 and struck a deal to partner it with ATB Financial.

In 2000, he helped found Tristone Capital Global Inc., an energy investment firm which he and his partners sold in 2009 to Australia's Macquarie Group for about $130 million.

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

In a statement, AltaCorp said the company is saddened by Gosbee's death.

The statement adds that the investment company's board of directors and executive team met to take "appropriate steps to address the regulatory, corporate and legal requirements arising from this tragic event."

AltaCorp says president Paul Sarachman will assume the role of CEO.

Gosbee's family is requesting privacy as they grieve.