Watch Live

Tweet TWEET

Fiera Capital acquires selected alternative asset management funds of GMP Investment Management

Fiera Capital acquires selected alternative asset management funds of GMP 
Investment Management 
MONTREAL, Jan. 18, 2013 /CNW Telbec/ - Fiera Capital Corporation ("Fiera" or 
the "Firm") (TSX: FSZ) announced today that it has reached an agreement (the 
"Agreement") with GMP Capital Inc. ("GMP"), one of Canada's leading 
independent investment dealers, to acquire flagship funds pertaining to the 
GMP Diversified Alpha Fund ("Alpha Fund") and the Canadian ABCP Fund ("ABCP 
Fund"), representing approximately $570 million in assets under management. 
These funds are currently being managed by GMP Investment Management L.P. 
("GMPIM"). As part of this transaction, key members of GMPIM's team, including 
Jason Marks, Chief Executive Officer, Chief Investment Officer and Managing 
Partner, will join the management team of a newly created Fiera Capital 
subsidiary, in which management will have a minority ownership interest. 
Under the terms of the Agreement, the purchase price includes a $10.75 million 
cash consideration, in addition to the aforementioned minority interest by the 
management team. Fiera will also pay 25 per cent of performance fees based on 
the acquired assets for a period of three years, subject to certain minimum 
asset under management thresholds. The transaction is expected to be 
immediately accretive to earnings. 
"This transaction makes perfect sense as it will allow us to expand our 
alternative strategies, an investment area that has been experiencing 
significant momentum over the past few years in the North American marketplace 
and that will continue to grow in the future. For clients, this acquisition 
will translate into enhanced product innovation and offering, with customized 
investment solutions that can meet their specific investment objectives," said 
Jean-Guy Desjardins, Chairman and Chief Executive Officer of Fiera. 
Fiera has $58 billion in assets under management, excluding approximately $8 
billion of assets under management acquired as part of the recently announced 
UBS Global Asset Management transaction, which is subject to regulatory 
approval and expected to close in the first quarter of 2013. 
This new acquisition reinforces Fiera's position as a leading-edge Canadian 
investment manager, focused on delivering a broad range of innovative 
investment solutions to a diversified clientele of investors. The Alpha and 
ABCP Funds adhere to proprietary and disciplined absolute return-focused 
strategies designed to deliver steady growth, manage volatility and offer an 
attractive investment for high-net-worth and institutional clients. 
"We are excited about joining the Fiera team, and we believe this new 
structure will provide us with the ideal environment to grow and build our 
unique alternative strategies, while ensuring the quality of our investment 
solutions and the highest levels of service for our clients," said Jason 
Marks. "Our first priority will be to ensure a smooth transition for our 
existing clients, and we will then look to further grow our asset base through 
the development and launch of innovative products." 
"We are very proud to have attracted this experienced and highly credible 
investment team, and we see tremendous potential as we expand our absolute 
return offering," added Mr. Desjardins. "The team brings a wealth of 
experience to Fiera, with numerous members having held senior positions at 
large Canadian financial institutions prior to founding GMPIM." 
The transaction, which is subject to customary conditions, including 
regulatory approval, is expected to close in the first quarter of 2013. 
About GMPIM 
GMP Investment Management L.P. ("GMPIM") is a Toronto‐based asset management 
firm that strictly adheres to its proprietary strategies, systems and 
technologies, which have proven to deliver steady growth and manage volatility 
- a predictable investment for high‐net‐worth individuals and 
institutional clients. While the processes to generate GMPIM's consistent 
performance are complex, the benefits are simple: preservation of capital, low 
volatility, and optimal absolute returns over the long term. 
About Fiera Capital Corporation 
Fiera Capital Corporation is a leading publicly traded, independent investment 
firm. The Firm is one of only a handful of full service, multi-product 
investment firms in Canada, offering clients a proven top tier track record in 
Canadian and foreign equity and fixed income management as well as depth and 
expertise in asset allocation and non-traditional investments. 
www.fieracapital.com 
Additional information relating to the Firm, including the Firm's annual 
information form, is on SEDAR at www.sedar.com. 
Forward-Looking Statements 
This document may contain certain forward-looking statements. These statements 
relate to future events or future performance, and reflect management's 
expectations or beliefs regarding future events, including business and 
economic conditions and Fiera Capital's growth, results of operations, 
performance and business prospects and opportunities. Such forward-looking 
statements reflect management's current beliefs and are based on information 
currently available to management. In some cases, forward-looking statements 
can be identified by terminology such as "may", "will", "should", "expect", 
"plan", "anticipate", "believe", "estimate", "predict", "potential", 
"continue", "target", "intend" or the negative of these terms, or other 
comparable terminology. 
By their very nature, forward-looking statements involve inherent risks and 
uncertainties, both general and specific, and a number of factors could cause 
actual events or results to differ materially from the results discussed in 
the forward-looking statements. In evaluating these statements, readers should 
specifically consider various factors that may cause actual results to differ 
materially from any forward-looking statement. 
These factors include, but are not limited to, market and general economic 
conditions, the nature of the financial services industry, and the risks and 
uncertainties detailed from time to time in Fiera Capital's interim and annual 
consolidated financial statements, and its Annual Report and Annual 
Information Form filed on www.sedar.com. These forward-looking statements are 
made as of the date of this document, and Fiera Capital assumes no obligation 
to update or revise them to reflect new events or circumstances. 
Mélanie Tardif, CPA, CMA NATIONAL Public Relations 514.843.2060 
SOURCE: FIERA CAPITAL CORPORATION 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2013/18/c6933.html 
CO: FIERA CAPITAL CORPORATION
ST: Quebec
NI: FIN MNA  
-0- Jan/18/2013 12:30 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.