Australia-based Ironbark Asset Management has reportedly entered into a long-term distribution partnership with Canadian asset manager Fiera Infrastructure.
The partnership will see Ironbark distributing Fiera’s unlisted infrastructure fund to investors in Australia and New Zealand, Financial Standard reported.
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Fiera’s flagship fund EagleCrest Infrastructure invests mid-market infrastructure assets in select Organisation for Economic Co-operation and Development (OECD) countries.
This open-end fund is currently invested in 41 assets across energy, utilities, telecommunications, transportation, and public-private partnerships.
Ironbark will distribute the fund to institutional investors and family offices in Australia and New Zealand.
The firm will invest the Australian assets into the strategy through Fiera’s current Luxembourg-domiciled vehicle, which has a minimum investment size of $5m.
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By GlobalDataAccording to Ironbark head of funds management Alex Donald, the firm will launch an Australian feeder fund for the strategy in the third quarter of the year.
It also eyes co-investment and separately managed accounts opportunities among Australian investors for Fiera’s strategy.
Donald was quoted as saying on the partnership: “To be partnering with a manager which is a leader in global infrastructure, backed by a highly specialised and deeply experienced team will be an exciting offering for investors in the Australia/New Zealand market.”
Fiera Infrastructure president Alina Osorio noted that Australia is an important market for the firm.
“We are delighted to partner with Ironbark, given its strong relationships and knowledge of the local Australian/New Zealand market,” she was quoted as saying.
Fiera Infrastructure had assets under management and commitments of $2.2bn at the end of last month.
In March 2019, Fiera Capital, the parent company of Fiera Infrastructure, acquired Toronto-based peer Integrated Asset Management (IAM) for $74m.
