Fiera Capital Corporation has strengthened its private alternatives lending platform with a $74m deal to purchase Integrated Asset Management (IAM).
“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,” said John Valentini, president and CEO, Private Alternative Investments, Fiera Capital in the press release.
“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.”
According to Jean Gamache, president, Fiera Private Lending, with this acquisition, Fiera Private Lending becomes one of the leading pan-Canadian non-bank lending platforms in the country.
“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.
The transaction is subject to approvals by IAM shareholders at a special meeting to be called in May. In addition to IAM shareholder and court approvals, the transaction is subject to regulatory approvals, and other customary conditions and is expected to close in the second quarter of 2019.
“Joining forces with Fiera Capital creates an opportunity for IAM shareholders to realize 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,” said John Robertson, president and CEO of IAM.