Montreal-based Fiera Capital Corp. on Monday announced a joint venture with Toronto-based Aquila Infrastructure Management Inc., a manager of infrastructure investments.
The newly formed alternative investment company, Fiera Infrastructure Inc., will have invested and committed capital of some $500 million and will benefit from a strong pipeline of investment opportunities, Fiera says in its announcement.
“The infrastructure sector’s importance to the global investment community cannot be overstated,” says Fiera Capital Chairman and CEO Jean-Guy Desjardins, in a statement.
“This transaction is in line with Fiera Capital’s strategy of expanding its current service offering in alternative strategies and enhances our ability to offer our clients the best possible investment opportunities in a wide array of asset classes,” he adds.
This transaction will bring Fiera Capital’s current infrastructure asset portfolio to $1.2 billion which includes Fiera Infrastructure’s $500 million of invested and committed capital and $700 million of infrastructure debt (as at Dec. 31, 2015). Aquila’s portfolio contributes a new set of diversified international assets, including hydroelectric projects, regulated utilities, wind and solar projects and transportation infrastructure.
Fiera Capital also welcomes a team of professionals with significant experience and in-depth knowledge of the sector.
Current Aquila CEO Alina Osorio is a seasoned veteran of alternative investment management, and brings with her over 20 years of experience in the financial sector and a successful track record of infrastructure investing and asset management. She will take on the new role of president of Fiera Infrastructure.
“Our team is very excited to have a firm as well-respected and successful as Fiera Capital as a new partner,” says Osorio. “We believe that their platform is a natural fit for us. Our expertise, combined with Fiera Capital’s knowledge of the infrastructure sector and the addition of our portfolio assets, will significantly expand the range of offerings to both Fiera Capital and Aquila’s existing clients.”
The transaction is expected to close in the second quarter of 2016. The financial results of
Fiera Infrastructure will be reflected in the consolidated financial results of Fiera Capital starting in the second quarter of fiscal 2016.
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