Announcement Concurrent with the Fiera Properties CORE Fund Surpassing $1 Billion AUM, and the Firm Reaching $1.7B in overall AUM
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MONTREAL, Sept. 13, 2016 /CNW Telbec/ - Fiera Properties Limited ("Fiera Properties"), a leading real estate investment management firm and an affiliate of Fiera Capital Corporation (TSX: FSZ), is proud to announce key appointments and team additions aimed at strengthening Fiera Properties' investment management team.
The team expansion is consistent with Fiera Properties' and Fiera Capital's commitment to continually grow and improve the alternative solutions and best-in-class diversification opportunities being offered to clients. Their success to date is marked by the growth of the firm's flagship fund, the Fiera Properties CORE Fund, launched in June of 2013, which recently surpassed $1 billion of assets under management (as of June 30, 2016), after several years of above-average returns.
New team appointments and additions:
- Peter Cuthbert has been appointed to the role of Chief Operating Officer, expanding his responsibilities to include the enhancement of Fiera Properties' compliance, analytics and risk management systems. He will continue to co-manage the flagship
Fiera Properties CORE Fund with Blair McCreadie.
- Blair McCreadie has joined Fiera Properties as Senior Vice-President and Fund Manager. Blair brings over 25 years of industry experience and will be responsible for co-managing and growing the Fiera Properties CORE Fund. Prior to joining Fiera Properties, Blair acted as Head of Canadian Real Estate for a major Canadian financial institution. Blair was instrumental in driving top level performance, managing capital deployment and managing their open investment fund.
- William Secnik has joined the Fiera Properties team as Vice-President, Investments and will source and execute transactions for Fiera Properties' investment funds. Will's experience of more than 20 years includes acquisitions, financing, repositionings and dispositions on behalf of a cross-section of investment vehicles. Most recently, Will acted as Fund Manager for one of Canada's largest open real estate pooled funds.
"The growth of our investment management team is a testament to the success of our funds and their ability to deliver value to our investors," Stuart Lazier, CEO of Fiera Properties. "Under our enhanced investment management team, Fiera Properties will continue to grow and deliver highly-valued returns to our clients."
Creation of New GTA Opportunity Fund
Concurrent with the team changes, Fiera Properties is proud to announce the creation of a new opportunity fund focused on the Greater Toronto Area. The Fiera Properties GTA Opportunity Fund, with committed capital of $55 million after its first closing in July 2016, will invest equity in well-located, value-add projects and development projects through a joint-venture partnership strategy. The fund is currently raising additional investor capital for its second closing, scheduled for late 2016. The new fund will add to Fiera Properties' $1.7 billion of assets under management (as of June 30, 2016), and increase its clients' access to diverse real estate projects, providing capital growth opportunities in the GTA.
"Toronto's strong population growth, low vacancy rates and its position as a world-class city make it an ideal real estate market for both value enhancement and capital appreciation," said Mr. Lazier. "In the current low interest rate environment, the search for higher returns has made real estate investment even more essential in clients' portfolios. This new fund is an excellent opportunity for our clients to diversify their portfolios and increase their exposure to the increasingly important alternative investment universe."
Fiera Properties Limited
Fiera Properties Limited is a leading Canadian real estate investment management firm with both institutional and private clients. The firm's $1.7 billion of assets under management (as of June 30, 2016) is comprised of the Fiera Properties CORE Fund, the Fiera Properties GTA Opportunity Fund and its segregated accounts. Through direct investment in exceptional real estate across Canada, Fiera Properties offers strategies that produce stable, growing income and capital appreciation. Strategies are comprised of institutional-grade retail, office, industrial and multi-family properties. Core real estate is an attractive income-generating element of a multi-asset portfolio based on its investment characteristics and its ability to stabilize portfolio performance and protect against inflation. Opportunistic real estate offers higher-return, risk-managed strategies to grow investors' capital through the development of new properties, and value-enhancement of existing properties.
SOURCE Fiera Capital Corporation