Fiera Capital to Acquire Flagship Funds From GMP Capital

January 30, 2013

On January 30, 2013, Fiera Capital (TSX: FSZ) announced that it had reached an agreement with GMP Capital to acquire GMP Diversified Alpha Fund and the Canadian ABCP Fund for $10.75 million cash consideration and 25% of performance fees based on the acquired assets, paid for a period of three years.  Key GMP management team members will join and receive a minority interest in a newly created Fiera Capital subsidiary.

On January 30, 2013, Fiera Capital Corporation (TSX: FSZ) announced that it had reached an agreement with GMP Capital Inc. to acquire its flagship funds GMP Diversified Alpha Fund and the Canadian ABCP Fund for $10.75 million cash consideration and 25% of performance fees based on the acquired assets, paid for a period of three years and subject to minimum asset under management thresholds.  Key GMP management team members will join and receive a minority interest in a newly created Fiera Capital subsidiary.

The acquired funds are currently managed by GMP Investment Management L.P., a Toronto-based asset management firm, and represent approximately $570 million in assets under management.  Fiera Capital is an independent Canadian investment firm with approximately $58 billion in assets under management.

To read the press release, please click here


Categories

Investment Manager M&A, Mutual Fund M&A, Transactions