Transaction strengthens Fiera Capital's alternative investment offering
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MONTREAL, March 22, 2016 /CNW Telbec/ - Fiera Capital Corporation ("Fiera Capital" or the "Firm") (TSX: FSZ), a leading independent asset management firm, announced today the creation of a joint venture with Toronto-based Aquila Infrastructure Management Inc. ("Aquila"), a premiere manager of infrastructure investments. The newly-formed alternative investment company, Fiera Infrastructure Inc. ("Fiera Infrastructure"), will have invested and committed capital of some CAD$500 million and will benefit from a strong pipeline of investment opportunities.
"The infrastructure sector's importance to the global investment community cannot be overstated," said Fiera Capital Chairman and CEO Jean-Guy Desjardins. "This transaction is in line with Fiera Capital's strategy of expanding its current service offering in alternative strategies and enhances our ability to offer our clients the best possible investment opportunities in a wide array of asset classes."
This transaction will bring Fiera Capital's current infrastructure asset portfolio to CAD$1.2 billion which includes Fiera Infrastructure's CAD$500 million of invested and committed capital and CAD$700 million of infrastructure debt (as at December 31, 2015). Aquila's portfolio contributes a new set of diversified international assets, including hydroelectric projects, regulated utilities, wind and solar projects and transportation infrastructure. The Firm also welcomes a team of professionals with significant experience and in-depth knowledge of the sector.
Current Aquila CEO Alina Osorio is a seasoned veteran of alternative investment management, and brings with her over 20 years of experience in the financial sector and a successful track record of infrastructure investing and asset management. Ms. Osorio will take on the new role of President of Fiera Infrastructure, a platform established to complement Fiera Capital's strong and growing offering of investments in this increasingly important asset class.
"Our team is very excited to have a firm as well-respected and successful as Fiera Capital as a new partner," said Ms. Osorio. "We believe that their platform is a natural fit for us. Our expertise, combined with Fiera Capital's knowledge of the infrastructure sector and the addition of our portfolio assets, will significantly expand the range of offerings to both Fiera Capital and Aquila's existing clients."
The transaction is expected to close in the second quarter of 2016. The financial results of
Fiera Infrastructure will be reflected in the consolidated financial results of Fiera Capital starting in the second quarter of fiscal 2016.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading North American independent asset management firm listed on the Toronto Stock Exchange. The Firm offers a wide range of traditional and alternative investment solutions, including depth and expertise in asset allocation. At December 31, 2015, Fiera Capital had over CAD$100 billion in assets under management. The Firm delivers distinctive investment management capabilities to institutional, private wealth and retail clients in Canada. In the U.S., asset management services are provided by its U.S. affiliates, which are investment advisers registered with the U.S. Securities and Exchange Commission. For more information, visit www.fieracapital.com.
Additional information relating to the Firm, including the Firm's annual information form, is available on SEDAR at www.sedar.com.
About Aquila Infrastructure Management
Aquila Infrastructure Management is a leading Canadian privately-held infrastructure management firm with approximately C$240 million in assets under management. Aquila's investment professionals have extensive experience pursuing, investing, developing and owning infrastructure assets globally. Aquila takes an active role during the development, construction, financing, and management of infrastructure investments.
This document may contain certain forward-looking statements. These statements relate to future events or future performance, and reflect management's expectations or beliefs regarding future events, including business and economic conditions and Fiera Capital's growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend" or the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement.
These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital's interim and annual consolidated financial statements, and its Annual Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this document, and Fiera Capital assumes no obligation to update or revise them to reflect new events or circumstances.
SOURCE Fiera Capital Corporation