Fiera Capital to acquire Integrated Asset Management
Fiera Capital Corporation (Fiera Capital) is expanding the offering on its Private Alternative Investments platform with the acquisition of Integrated Asset Management Corp (IAM).
IAM's private debt investment is being incorporated within Fiera Private Lending and the industrial real estate team joining Fiera Properties. The transaction received the unanimous support of the board of directors of both companies, and IAM shareholders holding 62 per cent of issued and outstanding IAM Shares have entered into voting and support agreements in favour of the Transaction, which is expected to close in the second quarter of 2019.
"This acquisition further strengthens and diversifies Fiera Capital's private alternatives lending platform, bringing significant capabilities in private debt in addition to expanding our real estate platform," says John Valentini, President and CEO, Private Alternative Investments, Fiera Capital. "We are excited to offer a leading private lending platform that is truly national and further develop our real estate investment strategies, while simultaneously driving the growth and distribution of an enhanced suite of private markets strategies."
"With this acquisition, Fiera Private Lending becomes one of the leading pan-Canadian non-bank lending platforms in the country," says Jean Gamache, President, Fiera Private Lending. "In addition to an experienced team and a long track record of performance, IAM brings a complementary product offering with its long-term loans, strengthening our existing portfolio and providing Fiera Capital investors with even more opportunities for diversification."
"We are acquiring a real estate business with a unique investment strategy that is complementary to Fiera Properties' existing business. For our clients, this means further investment opportunities into an asset class with stable and recurring cash flows and a unique level portfolio diversification," said Peter Cuthbert, President, Fiera Properties.
"Joining forces with Fiera Capital creates an opportunity for IAM shareholders to realise immediate value and liquidity as well as the opportunity to participate in a larger combined company well-positioned for future growth. We believe this is also a great opportunity for IAM employees to join the team at Fiera Capital," says John Robertson, President and CEO of IAM.