Strategy Overview
Strategy Description
The investment objective of the Fund is to generate optimized, stable returns through a diversified, global, multi-credit portfolio, primarily by leveraging various investment teams, track records and strategies that exist under the Fiera Capital Private Alternatives investment platform.
The strategy seeks to capture the dislocation in traditional banking dynamics via investments across geographies and multiple sectors of activity, including residential and commercial real estate lending, lower and middle market corporate lending, other asset based and specialty lending.
Key Differentiators
- A One-Stop Multi-Manager Solution: To gain exposure to a well-diversified multi-credit portfolio of in-house investment teams
- Portfolio Management Benefits: Optimization of multiple strategies to create a portfolio solution that generates the most favorable risk‑adjusted returns
- Disciplined Investment Process: Robust governance, risk management and portfolio monitoring discipline
- Access to Investment Specialists: Ability to leverage the vast expertise of Fiera Capital Private Alternative professionals
- Extensive Research and Due Diligence: Monitoring the quality of the underlying strategy teams, process, and investments
- Macroeconomic Expertise: A key factor in identifying asset classes, regions, and sectors where long term opportunities exist
- Diversification Benefits: Low correlation to traditional asset classes creates diversification benefits and reduces portfolio risk
- Compelling Income Generation: Strong and stable income stream; added benefit of the illiquidity premium achieved in private markets
Highlights
- Inception Date
- April 1, 2008
- Price
- $9.1444 (As of May 29, 2026)
- Last Distribution Paid ($)
- $0.0550 (May 29, 2026)
Performance
Monthly Performance as at May 31, 2026
| Year | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Year / YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2008 | -0.05 | 0.23 | 0.42 | 0.38 | 0.36 | 0.61 | -1.21 | 0.34 | 0.56 | 1.63 | |||
| 2009 | 0.35 | 0.30 | 0.33 | 0.31 | 0.35 | 0.43 | 0.41 | 0.45 | 0.44 | 0.05 | 0.79 | 0.46 | 4.76 |
| 2010 | 0.49 | 0.46 | 0.62 | 0.50 | 0.48 | 0.53 | 0.46 | 0.50 | 0.48 | 0.53 | 0.50 | 0.61 | 6.31 |
| 2011 | 0.61 | 0.54 | 0.63 | 0.60 | 0.63 | 0.64 | 0.68 | 0.69 | 0.70 | 0.63 | 0.66 | 0.76 | 8.05 |
| 2012 | 0.68 | 0.76 | 0.86 | 0.86 | 0.78 | 0.67 | 0.67 | 0.67 | 0.67 | 0.69 | 0.69 | 0.77 | 9.13 |
| 2013 | 0.65 | 0.56 | 0.61 | 0.59 | 0.61 | 0.63 | 0.53 | 0.68 | 0.51 | 0.54 | 0.52 | 0.66 | 7.34 |
| 2014 | 0.60 | 0.35 | 0.59 | 0.47 | 0.50 | 0.45 | 0.48 | 0.43 | 0.46 | 0.48 | 0.48 | 0.56 | 6.02 |
| 2015 | 0.49 | 0.39 | 0.41 | 0.50 | 0.47 | 0.45 | 0.49 | 0.50 | 0.46 | 0.44 | 0.51 | 0.67 | 5.93 |
| 2016 | 0.49 | 0.57 | 0.60 | 0.49 | 0.58 | 0.51 | 0.51 | 0.50 | 0.39 | 0.42 | 0.42 | 0.37 | 6.03 |
| 2017 | 0.55 | 0.69 | 0.59 | 0.45 | 0.57 | 0.42 | 0.29 | 0.08 | 0.32 | 0.67 | 0.47 | 0.57 | 5.82 |
| 2018 | 0.60 | 0.48 | 0.80 | 0.74 | 0.49 | 0.58 | 0.57 | 0.51 | 1.35 | 0.54 | 0.57 | 0.61 | 8.12 |
| 2019 | 0.67 | 0.58 | 0.82 | 0.56 | 0.64 | 0.62 | 0.65 | 0.70 | 0.69 | 0.57 | 0.63 | 0.47 | 7.86 |
| 2020 | 0.65 | 0.70 | 0.33 | 0.23 | 0.39 | 0.20 | 0.45 | 0.28 | 0.50 | 0.23 | 0.42 | 0.52 | 5.02 |
| 2021 | 0.49 | 0.43 | 0.43 | 0.44 | 0.47 | 0.52 | 0.50 | 0.67 | 0.36 | 0.19 | 0.25 | 0.48 | 5.36 |
| 2022 | 0.32 | 0.03 | 0.76 | 0.70 | -0.03 | -0.24 | -0.35 | 0.62 | -0.17 | 0.40 | 0.50 | 0.56 | 3.15 |
| 2023 | 0.65 | 0.68 | 0.65 | 0.08 | 0.58 | 0.68 | 0.71 | 0.68 | 0.37 | 0.65 | 0.15 | 0.58 | 6.65 |
| 2024 | 0.55 | 0.79 | 0.61 | 0.11 | 0.43 | 0.11 | 0.63 | -0.13 | 0.60 | 0.71 | 0.57 | 0.59 | 5.72 |
| 2025 | 0.67 | 0.50 | 0.63 | -0.09 | 0.82 | 0.31 | 0.56 | 0.49 | 0.51 | 0.57 | 0.42 | 0.39 | 5.92 |
| 2026 | 0.50 | 0.53 | 0.41 | 0.42 | 0.63 | 2.52 | |||||||
| Net annualized return since inception | 6.12 | ||||||||||||
| Jan. | |
|---|---|
| Feb. | |
| Mar. | |
| Apr. | -0.05 |
| May | 0.23 |
| Jun. | 0.42 |
| Jul. | 0.38 |
| Aug. | 0.36 |
| Sep. | 0.61 |
| Oct. | -1.21 |
| Nov. | 0.34 |
| Dec. | 0.56 |
| Year / YTD | 1.63 |
| Jan. | 0.35 |
|---|---|
| Feb. | 0.30 |
| Mar. | 0.33 |
| Apr. | 0.31 |
| May | 0.35 |
| Jun. | 0.43 |
| Jul. | 0.41 |
| Aug. | 0.45 |
| Sep. | 0.44 |
| Oct. | 0.05 |
| Nov. | 0.79 |
| Dec. | 0.46 |
| Year / YTD | 4.76 |
| Jan. | 0.49 |
|---|---|
| Feb. | 0.46 |
| Mar. | 0.62 |
| Apr. | 0.50 |
| May | 0.48 |
| Jun. | 0.53 |
| Jul. | 0.46 |
| Aug. | 0.50 |
| Sep. | 0.48 |
| Oct. | 0.53 |
| Nov. | 0.50 |
| Dec. | 0.61 |
| Year / YTD | 6.31 |
| Jan. | 0.61 |
|---|---|
| Feb. | 0.54 |
| Mar. | 0.63 |
| Apr. | 0.60 |
| May | 0.63 |
| Jun. | 0.64 |
| Jul. | 0.68 |
| Aug. | 0.69 |
| Sep. | 0.70 |
| Oct. | 0.63 |
| Nov. | 0.66 |
| Dec. | 0.76 |
| Year / YTD | 8.05 |
| Jan. | 0.68 |
|---|---|
| Feb. | 0.76 |
| Mar. | 0.86 |
| Apr. | 0.86 |
| May | 0.78 |
| Jun. | 0.67 |
| Jul. | 0.67 |
| Aug. | 0.67 |
| Sep. | 0.67 |
| Oct. | 0.69 |
| Nov. | 0.69 |
| Dec. | 0.77 |
| Year / YTD | 9.13 |
| Jan. | 0.65 |
|---|---|
| Feb. | 0.56 |
| Mar. | 0.61 |
| Apr. | 0.59 |
| May | 0.61 |
| Jun. | 0.63 |
| Jul. | 0.53 |
| Aug. | 0.68 |
| Sep. | 0.51 |
| Oct. | 0.54 |
| Nov. | 0.52 |
| Dec. | 0.66 |
| Year / YTD | 7.34 |
| Jan. | 0.60 |
|---|---|
| Feb. | 0.35 |
| Mar. | 0.59 |
| Apr. | 0.47 |
| May | 0.50 |
| Jun. | 0.45 |
| Jul. | 0.48 |
| Aug. | 0.43 |
| Sep. | 0.46 |
| Oct. | 0.48 |
| Nov. | 0.48 |
| Dec. | 0.56 |
| Year / YTD | 6.02 |
| Jan. | 0.49 |
|---|---|
| Feb. | 0.39 |
| Mar. | 0.41 |
| Apr. | 0.50 |
| May | 0.47 |
| Jun. | 0.45 |
| Jul. | 0.49 |
| Aug. | 0.50 |
| Sep. | 0.46 |
| Oct. | 0.44 |
| Nov. | 0.51 |
| Dec. | 0.67 |
| Year / YTD | 5.93 |
| Jan. | 0.49 |
|---|---|
| Feb. | 0.57 |
| Mar. | 0.60 |
| Apr. | 0.49 |
| May | 0.58 |
| Jun. | 0.51 |
| Jul. | 0.51 |
| Aug. | 0.50 |
| Sep. | 0.39 |
| Oct. | 0.42 |
| Nov. | 0.42 |
| Dec. | 0.37 |
| Year / YTD | 6.03 |
| Jan. | 0.55 |
|---|---|
| Feb. | 0.69 |
| Mar. | 0.59 |
| Apr. | 0.45 |
| May | 0.57 |
| Jun. | 0.42 |
| Jul. | 0.29 |
| Aug. | 0.08 |
| Sep. | 0.32 |
| Oct. | 0.67 |
| Nov. | 0.47 |
| Dec. | 0.57 |
| Year / YTD | 5.82 |
| Jan. | 0.60 |
|---|---|
| Feb. | 0.48 |
| Mar. | 0.80 |
| Apr. | 0.74 |
| May | 0.49 |
| Jun. | 0.58 |
| Jul. | 0.57 |
| Aug. | 0.51 |
| Sep. | 1.35 |
| Oct. | 0.54 |
| Nov. | 0.57 |
| Dec. | 0.61 |
| Year / YTD | 8.12 |
| Jan. | 0.67 |
|---|---|
| Feb. | 0.58 |
| Mar. | 0.82 |
| Apr. | 0.56 |
| May | 0.64 |
| Jun. | 0.62 |
| Jul. | 0.65 |
| Aug. | 0.70 |
| Sep. | 0.69 |
| Oct. | 0.57 |
| Nov. | 0.63 |
| Dec. | 0.47 |
| Year / YTD | 7.86 |
| Jan. | 0.65 |
|---|---|
| Feb. | 0.70 |
| Mar. | 0.33 |
| Apr. | 0.23 |
| May | 0.39 |
| Jun. | 0.20 |
| Jul. | 0.45 |
| Aug. | 0.28 |
| Sep. | 0.50 |
| Oct. | 0.23 |
| Nov. | 0.42 |
| Dec. | 0.52 |
| Year / YTD | 5.02 |
| Jan. | 0.49 |
|---|---|
| Feb. | 0.43 |
| Mar. | 0.43 |
| Apr. | 0.44 |
| May | 0.47 |
| Jun. | 0.52 |
| Jul. | 0.50 |
| Aug. | 0.67 |
| Sep. | 0.36 |
| Oct. | 0.19 |
| Nov. | 0.25 |
| Dec. | 0.48 |
| Year / YTD | 5.36 |
| Jan. | 0.32 |
|---|---|
| Feb. | 0.03 |
| Mar. | 0.76 |
| Apr. | 0.70 |
| May | -0.03 |
| Jun. | -0.24 |
| Jul. | -0.35 |
| Aug. | 0.62 |
| Sep. | -0.17 |
| Oct. | 0.40 |
| Nov. | 0.50 |
| Dec. | 0.56 |
| Year / YTD | 3.15 |
| Jan. | 0.65 |
|---|---|
| Feb. | 0.68 |
| Mar. | 0.65 |
| Apr. | 0.08 |
| May | 0.58 |
| Jun. | 0.68 |
| Jul. | 0.71 |
| Aug. | 0.68 |
| Sep. | 0.37 |
| Oct. | 0.65 |
| Nov. | 0.15 |
| Dec. | 0.58 |
| Year / YTD | 6.65 |
| Jan. | 0.55 |
|---|---|
| Feb. | 0.79 |
| Mar. | 0.61 |
| Apr. | 0.11 |
| May | 0.43 |
| Jun. | 0.11 |
| Jul. | 0.63 |
| Aug. | -0.13 |
| Sep. | 0.60 |
| Oct. | 0.71 |
| Nov. | 0.57 |
| Dec. | 0.59 |
| Year / YTD | 5.72 |
| Jan. | 0.67 |
|---|---|
| Feb. | 0.50 |
| Mar. | 0.63 |
| Apr. | -0.09 |
| May | 0.82 |
| Jun. | 0.31 |
| Jul. | 0.56 |
| Aug. | 0.49 |
| Sep. | 0.51 |
| Oct. | 0.57 |
| Nov. | 0.42 |
| Dec. | 0.39 |
| Year / YTD | 5.92 |
| Jan. | 0.50 |
|---|---|
| Feb. | 0.53 |
| Mar. | 0.41 |
| Apr. | 0.42 |
| May | 0.63 |
| Jun. | |
| Jul. | |
| Aug. | |
| Sep. | |
| Oct. | |
| Nov. | |
| Dec. | |
| Year / YTD | 2.52 |
Net annualized return since inception
Past performance is not a guarantee or indicator of future results. Inherent in any investment is the risk of loss.
Returns are net of fees payable to underlying strategy.
Investment Team
Fiera Private Markets Solutions provides efficient access to a diverse global suite of innovative investment solutions through thoughtfully managed and optimized asset class portfolios. Clients benefit from global exposure to high quality private credit, real estate, natural capital, infrastructure and private equity investment opportunities.
They are assisted by an analyst.
Additional Strategies
Managed by the Team
Documents
Important Disclosures
Nothing on this website should be viewed as a recommendation, offer or solicitation to buy or sell any security or investment and does not constitute investment, legal, tax or accounting advice. Services are offered only to qualified investors and only in accordance with applicable laws and regulations in each relevant jurisdiction. Information is believed to be accurate as of the publication date but may change without notice; no warranty is provided, and Fiera Capital and its affiliates disclaim liability for its use.
Past performance is not a guarantee of future results. Inherent in any investment is the potential for loss. Target returns are aspirational, forward-looking and do not represent actual performance. There is no guarantee that such performance will be achieved, and actual results may vary substantially. Metrics (e.g., exposures, ratios, characteristics) are for reference only and may not capture all relevant factors. Different metrics may lead to materially different conclusions; Any specific holdings mentioned are for illustration only, and may not represent the full portfolio, past holdings, or future positions. Indices are unmanaged, not investable, and do not reflect fees or expenses. Index comparisons are provided for context and portfolio holdings may differ significantly from those of any index; All investment strategies involve risks, including market, economic, financial, operational, liquidity, valuation, and regulatory risks. Certain strategies may use leverage, derivatives, or concentrated exposures, which can increase volatility and risk of loss; No strategy, diversification approach, or risk management technique can eliminate risk, or guarantee returns in all market environments; Investors should review relevant governing documents and consult their own advisers before making investment decisions.
Environmental, social, governance (“ESG”) or impact related goals, commitments, or initiatives referenced on this website are voluntary, may not apply uniformly across strategies, and may be modified or discontinued at Fiera Capital’s discretion. ESG-related processes do not guarantee any specific investment outcome.