Asset management firm Fiera Capital Corporation has formed a joint venture with Toronto-based Aquila Infrastructure Management, a manager of infrastructure investments.
The newly-formed alternative investment company, Fiera Infrastructure will have invested and committed capital of some CAD500 million and will benefit from a strong pipeline of investment opportunities.
"The infrastructure sector's importance to the global investment community cannot be overstated," says Fiera Capital Chairman and CEO Jean-Guy Desjardins. "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."
This transaction will bring Fiera Capital's current infrastructure asset portfolio to CAD1.2 billion which includes Fiera Infrastructure's CAD500 million of invested and committed capital and CAD700 million of infrastructure debt (as at 31 December, 2015). Aquila's portfolio contributes a new set of diversified international assets, including hydroelectric projects, regulated utilities, wind and solar projects and transportation infrastructure. The Firm 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. Ms. Osorio will take on the new role of President of Fiera Infrastructure, a platform established to complement Fiera Capital's strong and growing offering of investments in this increasingly important asset class.
"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.
