Montreal-based Fiera Capital Corp. has announced that it has signed a definitive agreement to acquire Clearwater Capital Partners, LLC, an investment firm focused on credit and special situations.
Headquartered in Hong Kong, Clearwater is a privately held employee-owned asset manager with US$1.4 billion in assets under management. Clearwater’s assets will be added to Fiera Capital’s private alternative investments division, complementing the firm’s existing suite of private alternative investment strategies and adding investment expertise through offices and teams across the Asia-Pacific region.
“As a leading firm in credit and special situations, Clearwater comes to Fiera Capital with a strong, culturally aligned senior leadership team that will add to the bench strength of our existing private alternative investments division and provide and established platform to boost the growth and distribution of an enhanced suite of private markets strategies to clients,” says John Valentini, executive vice president, global chief financial officer and president of Fiera’s private alternative investments division, in a statement.
“With a 16-year track record of solid performance, the Clearwater team has an established presence in the Asia credit space, an industry which today represents US$50 trillion in investment opportunities,” he adds.
Clearwater operates in five offices across Asia-Pacific and the United States: Hong King, Singapore, Seoul, Mumbai and Connecticut. Robert Petty and Amit Gupta will continue to lead Clearwater as co-CEOs and co-CIOs.
The acquisition is expected to close over the coming months and is subject to customary conditions, such as applicable regulatory approvals and approval of the Toronto Stock Exchange.