Montreal-based Fiera Capital Corp. is currently developing a new proprietary infrastructure platform to make up for losing its 35% stake in a Montreal-based investment manager that focuses on infrastructure investments in North America.
The new platform is expected to launch in early 2016.
“Fiera Capital will enhance its infrastructure expertise either through partnerships or internally with a new investment team, thereby maintaining its position as a leading manager of alternative investments in Canada,” according to the firm’s announcement released on Tuesday.
Axium Infrastructure Inc. has agreed to redeem Fiera Capital’s equity ownership in Axium because Fiera Capital and the entities in which it holds a material ownership position are subject to U.S. federal banking regulations.
“While these constraints are not an impediment to Fiera Capital’s ordinary activities, it contributed to create certain limitations on Axium’s,” the statement explains.
The transaction is subject to customary closing conditions and is expected to close on or about Jan. 15, 2016.
Alternative asset classes have been a focus of different Canadian asset managers in 2015. Toronto-based Mackenzie Financial Corp. launched an alternative asset class fund for retail investors in October and AGF Management Ltd., with headquarters also in Toronto, led a consortium in January that acquired a terminal at Toronto’s island airport.
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