Montreal-based Fiera Capital Corp. (TSX: FSZ) has reached an agreement to acquire New York-based Samson Capital Advisors LLC, a prominent U.S. fixed-income investment management firm with US$7.6 billion in assets under management, the companies said Wednesday.
The US$33.5 million acquisition will bring Fiera’s total assets under management (AUM) to over $96 billion while bolstering its U.S. presence in the global asset management market. It will bring the combined U.S. presence of Samson and existing Fiera Capital U.S. affiliates to US$17.2 billion in AUM.
“With this acquisition, we are creating a full-fledged global asset manager in the U.S, adding strong leadership and investment talent in order to further expand our presence in this dynamic and sophisticated market,” said Jean-Guy Desjardins, chairman and CEO of Fiera, in a news release. “This transaction will add significant bench strength to our high-net-worth segment as well as establish a strong foundation for our proprietary investment strategies.”
Benjamin Thompson, current CEO of Samson, will assume the role of president and CEO of Fiera Capital’s U.S. asset management subsidiary.
The acquisition is expected to close during the first half of 2015.