Fiera Comox, an affiliate of Montreal-based asset manager Fiera Capital Corp, has launched a private credit strategy. The strategy, which will focus on mid-market credit investment opportunities in the U.S. and Europe, was provided with C$80 million in initial commitments from Fiera Capital and two cornerstone investors. It is targeting C$600 million over the next two years.
MONTRÉAL, July 9, 2020 /CNW Telbec/ – Fiera Comox (“Fiera Comox”), a global private investment firm with $830 million in AUM as of March 31, 2020 and an affiliate of Fiera Capital Corporation (TSX: FSZ) (“Fiera Capital”), is proud to announce the official launch of its new Fiera Comox Private Credit Strategy (the “Strategy”). Complementing Fiera Comox’s private equity and agriculture strategies, the Strategy offers investors compelling private credit investment opportunities across the U.S. and Europe.
The Strategy has been designed to be flexible and capitalize on shifts in the investment landscape to deliver attractive returns through changing economic cycles. With global market pressures expected to persist, the Strategy represents an opportunity of choice for investors as more mid-market companies require capital to grow and operate in the current environment.
Initial seed capital was provided by Fiera Capital, which has one of the largest non-bank private debt platforms in Canada. Furthermore, the Strategy is complementary to Fiera Capital’s existing eight private credit strategies that invest in Canada and Asia.
To develop and launch this new strategy, Fiera Comox brought in Mathieu Desforges and Maxime Dorais, from the Caisse de dépôt et placement du Québec (“CDPQ”), one of Canada’s largest pension funds. While at CDPQ, together they grew the Junior and Opportunistic Credit strategy into an over $3 billion private credit portfolio from 2013 to 2019. This highly seasoned investment team has managed assets through all economic cycles, including the global financial crisis of 2008.
“Our team is thrilled to announce the official launch of the Fiera Comox Private Credit Strategy, which provides a differentiated investment opportunity by investing in high quality private credit instruments across the capital structure in the U.S. and Europe,” said Mathieu Desforges, Partner and Head of Fiera Comox Private Credit. Mathieu continued, “Initial commitments from Fiera Capital, a Canadian pension fund and a U.S. investor have allowed us to complete our first two investments in the U.S. and Europe. We are confident we can replicate the success of our past portfolios by building a stable and high return private credit strategy.”
“Our new private credit strategy is very well aligned with Fiera Comox’s existing private equity and agriculture investment strategies, which invest globally and are offered via open-ended structures. The addition of this new team to the existing Fiera Comox platform brings exceptional global networks and deal sourcing capabilities with our investment professionals having run three of the world’s largest institutional private investment programs. This strategy provides a particularly attractive opportunity for investors right now,” said Antoine Bisson-McLernon, Founder and CEO of Fiera Comox.
“This new private credit strategy expands Fiera Capital’s private alternatives lending platform and offers our clients complementary private credit products” said John Valentini, President and CEO, Private Alternative Investments, Fiera Capital. John continued “We are excited to welcome such an experienced credit team and to continue to support the growth of the Fiera Comox platform.”
About Fiera Comox
Fiera Comox Partners is a global investment manager that manages private investment strategies in Private Equity, Agriculture and Private Credit. As of March 31, 2020, Fiera Comox had $830 million in AUM.
Established in 2016, Fiera Comox is jointly owned by Fiera Capital Corporation and the employees of Fiera Comox. The firm aims to deliver attractive long-term returns to its investors while preserving capital and investing responsibly. www.fieracomox.com
About Fiera Capital Corporation
Fiera Capital is a leading independent global asset management firm with approximately C$158.1 billion in assets under management as of March 31, 2020. The Company provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, with regional hubs in New York (U.S.), London (UK), and Hong Kong.
In the U.S., asset management services are provided by the Company’s U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult this webpage.
Additional information about Fiera Capital Corporation, including the Company’s annual information form, is available on SEDAR at www.sedar.com.