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May 10, 2019

Natixis to purchase 11% stake in Canada’s Fiera Capital

France’s Natixis Investment Managers has purchased an 11% stake in Canada’s Fiera Capital for C$128.2m ($95.2m).

Natixis CEO Jean Raby will gain a seat on the Fiera board as part of the deal.

The companies also inked a five-year agreement, under which Fiera will distribute Natixis investment strategies to institutional, private wealth and retail clients in Canada.

On the other hand, Natixis will offer Fiera investment strategies in international markets.

Natixis will buy 10.68 million Class A Fiera subordinate voting shares from National Bank of Canada and DJM Capital, which is controlled by Fiera CEO Jean-Guy Desjardins.

Raby said: “Fiera Capital has an experienced team, a strong track record and a leading distribution network in Canada, and this partnership will enable both firms to better serve our clients by offering a broader range of active investment strategies.”

As part of the deal, Fiera will buy the Canadian operations and funds of Natixis.

The Toronto-based operations of Natixis, which manages around C$1.8bn in assets, will continue to operate as a separate legal entity.

The business will continue to be managed by Natixis’ current senior management team.

The deal is subject to regulatory nod and slated to complete in the third quarter of this year.

Natixis recently announced the acquisition of British credit specialist MV Credit.

It also acquired a minority stake in US-based WCM Investment Management.

Meanwhile, Fiera was recently in the news for the acquisition of an 80% stake in UK-based real estate investment manager Palmer Capital Partners.

Besides, Fiera bought Canada’s Integrated Asset Management in a deal worth $74m.

 

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