New Fund aimed at building a diversified portfolio
of Canadian commercial real estate mortgages
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 23, 2017 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Firm"), a leading independent asset management firm, announced today the launch of its new Fiera Properties CORE Mortgage Fund ("Fund") and the appointment of Fiera Properties Debt Strategies Ltd., a wholly-owned subsidiary of Fiera Properties Limited ("Fiera Properties"), to lead the mortgage strategy. Fiera Capital will act as investment fund manager and portfolio manager of the Fund. The open-ended Fund will be available to accredited individual and institutional investors starting in December 2017, and will invest in mortgages secured by high quality commercial real estate across Canada. The Fund seeks to provide income to investors while preserving capital over the long term.
Fiera Properties is a leading real estate investment management firm and an affiliate of Fiera Capital Corporation. The Fund will be led by two experienced industry professionals:
- Scott Rowland, Senior Vice President & Co-Head, Debt Strategies, brings more than 20 years of industry experience and is responsible for leading the Fund's investment strategy and adjudication. Prior to joining Fiera Properties, Scott was the Managing Director for Blackstone and GE Real Estate in Canada.
- Geoff McTait, Senior Vice President and Co-Head, Debt Strategies, leads the Fund's investment sourcing, underwriting and funding. Geoff has more than 17 years of industry experience, including serving as the Canadian Originations Leader at Blackstone and GE Real Estate.
"Real estate lending is a natural extension of Fiera Properties' existing equity business. There is growing demand in Canada for commercial mortgages as part of a diversified fixed income strategy, and the Fund provides an opportunity for investors to access these otherwise privately traded investments," said Peter Cuthbert, President of Fiera Properties. "We are pleased to have within our fold industry veterans Scott Rowland and Geoff McTait as the Co-Heads of the debt business, who will leverage their significant experience to grow the fund and broaden the footprint of Fiera Properties into a full-service real estate equity and debt platform."
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer; solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction or compliance with an exemption therefrom.
About Fiera Properties Limited
Fiera Properties Limited is a leading Canadian real estate investment management firm with both institutional and private clients. The firm's C$1.9 billion of assets under management (as of September 30, 2017) 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.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with more than C$123.0 billion in assets under management as at September 30, 2017. The Firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital's depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
In the U.S., asset management services are provided by the Firm's U.S. affiliates, Bel Air Investment Advisors LLC and Fiera Capital Inc., investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Further, Charlemagne Capital (UK) Limited and Charlemagne Capital (IOM) Limited are both registered as investment advisers with the SEC. Charlemagne Capital (UK) Limited is authorized and regulated by the Financial Conduct Authority in the United Kingdom, and Charlemagne Capital (IOM) Limited is licensed by the Isle of Man Financial Services Authority. Registration with the SEC does not imply a certain level of skill or training. Additional information about Fiera Capital Corporation, including the Firm's annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation