Montreal-based Fiera Capital Corp. has acquired the global equities fund management team from AMP Capital, an asset manager based in Sydney, Australia.
The AMP global companies team manages more than US$500 million for the AMP Capital Global Companies Fund series, which offers a concentrated portfolio of 25–35 best-in-class companies demonstrating a competitive advantage, strong capital allocation and predictable growth.
The acquisition adds four portfolio managers to Fiera’s team: Simon Steele and Neil Mitchell, who will both be based in Fiera’s London office; David Naughtin, based in Hong Kong; and Andy Gardner, based in Sydney.
The AMP Capital Global Companies fund is available to investors in Australia and New Zealand. Fiera said AMP’s existing client terms and conditions will not be impacted by the transaction. Distribution and management arrangements for the fund will be formalized “in the coming weeks,” according to a release from AMP.
In a statement, Jean-Philippe Lemay, Fiera Capital’s global president and chief operating officer, said the acquisition “builds on our global ambitions of building robust investment platforms in markets where we see opportunities for growth.”
Terms of the deal were not disclosed.