Montreal-based Fiera Capital Corp. has finalized its joint venture transaction with Toronto-based Aquila Infrastructure Management Inc., leading to the creation of Fiera Infrastructure Inc.
Alina Osorio, president and CEO of Aquila, will lead Fiera Infrastructure as president.
“The newly formed alternative investment company has invested and committed capital of approximately $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,” according to Fiera’s announcement on Monday.
The purchase of the portfolio, which was originally announced in April, includes a 100% equity stake in the pedestrian tunnel at Toronto’s island airport, a social housing project in Western Canada and a detention centre in Ontario.
Fiera and Aquila’s joint venture brings the Montreal-based firm’s current infrastructure asset portfolio to $1.22 billion as of March 31.
Fiera Capital initially announced its plans to form its own alternative investment arm in March.
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