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Montreal-based Fiera Private Debt Inc. has announced the launch of a North American infrastructure private debt strategy.

Fiera will offer institutional investors exposure to private debt in mid-market infrastructure projects throughout Canada and the U.S., according to a release.

The asset manager aims to create a diversified portfolio of investments structured primarily as senior secured loans that offer “attractive coupons and strong lender protections.”

The investments will be “below the target size” of many large infrastructure debt players such as banks, the release said.

To enhance the strategy in the U.S., Paul Colatrella — who has close to 30 years of experience in investment management — has joined Fiera as managing director, Fiera Private Debt US.

“There is a strong market opportunity in Canada and the U.S. for thoughtful, well structured, middle market infrastructure debt investments that bridge the gap between bank lending and more expensive and speculative mezzanine debt platforms,” Colatrella said in a statement.