On May 15, 2019, Fiera Capital Corporation announced that it had entered into an agreement to acquire Foresters Asset Management Inc.Pursuant to the agreement, Fiera Capital Corporation (“Fiera Capital”) will acquire all of the outstanding shares of Foresters Asset Management Inc. (“Foresters Asset Management”), a wholly-owned subsidiary of Foresters Investor Services, Inc. Fiera Capital will become the manager and portfolio manager of the Funds managed by Foresters Asset Management, incorporating Foresters Asset Management into Fiera Capital’s existing Canadian operations. The transaction is subject to investor consent and customary regulatory approvals and is expected to close in the third quarter of 2019. Terms of the deal were not disclosed.
Foresters is an Ontario-based investment management firm with CAD$10.5 billion in assets under management as of April 30, 2019. It focuses on institutional and insurance liability-driven investment.
Fiera Capital (TSX: FSZ) is an asset management firm that provides institutional, retail and private wealth clients with management services across traditional and alternative asset classes. It has approximately CAD$144.9 billion in assets under management as of March 31, 2019.
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