Fiera Capital Corp (TSX: FSZ) and Aquila Infrastructure Management have closed a previously-announced joint venture deal, creating a new infrastructure investment firm. The firm, Fiera Infrastructure Inc, begins operation with about $500 million in invested and committed capital. Its activity is expected to be facilitated by the acquisition of a public-private partnership portfolio from Forum Equity Partners earlier this year. Fiera, which based in Montréal, said the joint venture with Toronto-based Aquila brings its current infrastructure assets to $1.22 billion.
Fiera Capital closes joint venture transaction with Aquila Infrastructure Management
MONTREAL, July 25, 2016 /CNW Telbec/ – Fiera Capital Corporation (TSX:FSZ.TO – News) (“Fiera Capital” or the “Firm”), a leading independent asset management firm, announced today that the firm has received all required third-party consents and finalized its previously announced joint venture transaction with Toronto-based Aquila Infrastructure Management (“Aquila”), a premiere manager of infrastructure investments thereby creating Fiera Infrastructure Inc. (“Fiera Infrastructure”). The newly-formed alternative investment company has invested and committed capital of approximately CAD$500 million and benefits from a strong pipeline of investment opportunities as evidenced by Fiera Infrastructure’s recent acquisition of a Public Private Partnership portfolio.
“Infrastructure as an asset class provides important diversification potential and stable returns for our clients’ portfolios,” said Fiera Capital’s 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. I am very proud to officially welcome Alina Osorio as President of Fiera Infrastructure along with her team of highly respected individuals.
This transaction brings Fiera Capital’s current infrastructure asset portfolio to CAD$1.22 billion which includes Fiera Infrastructure’s CAD$500 million of invested and committed capital and CAD$720 million of infrastructure debt (as at March 31, 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. As at June 30, 2016, Fiera Capital had over CAD$109 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, Bel Air Investment Advisors LLC and Fiera Capital Inc. which are investment advisers registered with the U.S. Securities and Exchange Commission (the “SEC”). Registration with the SEC does not imply a certain level of skill or training. www.fieracapital.com
About Aquila Infrastructure Management
Aquila Infrastructure Management is a leading Canadian privately-held infrastructure management firm with approximately CAD$252 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.
Daniel Richard, Vice President, Corporate Communications and Investor Relations, Fiera Capital Corporation, 514-954-6456, firstname.lastname@example.org; Marie-Claude Frenette, Advisor, Corporate Communications, Fiera Capital Corporation, 514-954-3784, email@example.com
Photo courtesy of Aquila Infrastructure Management Inc