Montreal-based Fiera Capital Corp. announced on Wednesday that it has completed its acquisition of London, U.K.-based Charlemagne Capital Ltd

The acquisition of Charlemagne, an independent asset-management firm specializing in frontier and emerging-market asset classes, is expected to add US$2 billion to Fiera’s assets under management (AUM).

“The addition of emerging and frontier markets strategies to our strong global offering in equities will benefit our clients who are consistently looking for diversification opportunities,” says Jean-Guy Desjardins, Fiera’s chairman and CEO, in a statement.

“Charlemagne will add complementary expertise to our platform and strengthens the ability to serve our North American clients while providing Charlemagne access to Fiera’s existing distribution network,” he adds. “Furthermore, this team has a wealth of knowledge in an asset class that we have identified as having great growth potential.”

Fiera and Charlemagne will integrate their activities over the coming months. The firms intend to maximize cross-selling opportunities and to further diversify Fiera’s product offerings in Canada and the U.S.

The Charlemagne acquisition also represents an important step in advancing Fiera’s growing global presence, providing the firm with a foothold into the European market.

Fiera, which had $112 billion in AUM as of Sept. 30, has distribution networks in North America, South Africa, Japan, and Australia as well as the U.K. and select European markets.

See: Fiera continues expansion strategy with acquisition of Charlemagne Capital