handshaking and exchanging contract documents

The U.S. division of Fiera Capital Corporation is selling the rights to manage the Fiera Capital Emerging Markets Fund, a US$1.9-billion fund it purchased management rights to in 2017, to Sunbridge Capital Partners.

The move comes as part of the Montreal-based asset manager’s strategic review of its U.S. operations, a release from Fiera said.

Fiera acquired management rights to the fund from City National Rochdale in 2017 for roughly US$12 million plus additional considerations.

Sunbridge is an investment management firm based in Miami, Fla. The firms did not share details regarding the value of their agreement in principle.

Correction: An earlier version of this article incorrectly stated Sunbridge’s location. The firm is based in Miami.