Fiera Capital
Corporate brand
UnclaimedFiera Capital is a Canadian asset-management company serving institutional, wealth-management, and private-market investors.
Last updated October 14, 2026
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Overview
Fiera Capital Corporation, commonly known as Fiera Capital, is a Montreal-headquartered Canadian investment-management company. It manages capital across public and private markets and offers strategies spanning equities, fixed income, balanced portfolios, alternative investments, private credit, emerging and frontier markets, and wealth management. Public-market investing has historically represented the larger part of its business, while acquisitions have progressively broadened its capabilities in alternatives, private assets, and specialized regional mandates. The company was established in 2003 when Fiera International Inc., wholly owned by Jean-Guy Desjardins, reached an agreement with Desjardins Group to spin out Elantis Investment Management. The resulting business began with approximately C$5 billion in assets under management, with Fiera International holding 70% and Desjardins retaining 30%. From the outset, Fiera pursued a consolidation-led growth model, adding investment teams and distribution capabilities through acquisitions rather than relying solely on organic expansion. Its early development included the launch of alternative strategies in 2005, beginning with a market-neutral product, followed by acquisitions of Senecal Investment Counsel and YMG Capital. These transactions strengthened institutional investment management and private wealth management, and helped lift reported assets under management to approximately C$26 billion by 2006. In 2010, Fiera merged with Sceptre Investment Counsel, creating the publicly listed Fiera Sceptre. The combined business controlled roughly C$30 billion in assets at that point. A major transformation occurred in 2012 with the acquisition of Natcan Investment Management, the asset-management subsidiary of National Bank of Canada. The transaction increased Fiera's reported assets under management to approximately C$54 billion and gave National Bank a substantial minority stake. Around the same period, the company returned to the Fiera Capital name. Subsequent Canadian transactions included Canadian Wealth Management Group, UBS Asset Management's Canadian operations, alternative funds acquired from GMP Capital, Propel Capital, and CGOV Asset Management. Fiera also expanded internationally. It opened a Boston office in 2011 and later established a broader United States presence through acquisitions including Bel Air Investment Advisors, Wilkinson O'Grady & Co., Samson Capital Advisors, Apex Capital Management, Larch Lane Advisors, and City National Rochdale's emerging-markets fund. In Europe, the 2016 acquisition of Charlemagne Capital provided a base in London and strengthened the company's frontier- and emerging-market capabilities. In Asia, Fiera acquired Clearwater Capital Partners in Hong Kong and formed a distribution partnership with Nissay Asset Management in Japan. The company's capabilities have continued to extend beyond conventional long-only public markets. Its portfolio of businesses has included hedge-fund-of-funds and liquid-alternatives management, growth equity, private credit, alternative lending, closed-end funds, and high-net-worth wealth management. In 2019, Fiera acquired Integrated Asset Management, a private-alternatives lending platform, and purchased Foresters Asset Management from Foresters Financial. It also entered a strategic distribution relationship with Natixis Investment Managers, which acquired an 11% stake in Fiera in 2019; Natixis later sold that stake in 2022 while the distribution relationship continued. Fiera subsequently divested certain businesses as part of portfolio management. In 2021 it sold Bel Air Investment Advisors to Hightower Advisors and transferred Wilkinson Global Asset Management, which incorporated the relevant Wilkinson business and personnel, to Wilkinson Capital Partners. Fiera's overall model remains that of a diversified, multi-boutique asset manager with a strong North American base and international offices and relationships. Its positioning combines institutional-scale investment management with specialized strategies and access to public and private markets.
History
Fiera Capital originated in a 2003 agreement between Fiera International Inc. and Desjardins Group to separate Elantis Investment Management and establish a new independent asset manager. Jean-Guy Desjardins's Fiera International held 70% of the new company, while Desjardins retained 30%. Fiera began operations with approximately C$5 billion in assets under management. The company expanded its offering set early. In 2005 it introduced a market-neutral strategy, reflecting an effort to provide alternative investment approaches that were not widely available from traditional Canadian managers at the time. That year it acquired Senecal Investment Counsel, strengthening institutional capabilities. In 2006 it acquired YMG Capital, increasing its private-wealth presence and bringing reported assets under management to approximately C$26 billion. In 2010 Fiera combined with Sceptre Investment Counsel. The resulting publicly traded company was named Fiera Sceptre, with Fiera holding control and combined assets of about C$30 billion. The next major step came in early 2012, when Fiera acquired Natcan Investment Management from National Bank of Canada. The transaction, valued at approximately C$309.5 million in cash and shares, nearly doubled Fiera's scale to about C$54 billion in assets under management and resulted in National Bank holding 35% of Fiera. Fiera subsequently returned to the Fiera Capital name. Fiera continued its Canadian consolidation strategy in 2012 and 2013. It acquired Canadian Wealth Management Group from Société Générale, UBS Asset Management's Canadian operations, and alternative funds from GMP Capital. These transactions added institutional, wealth-management, fixed-income, equity, balanced, and alternative capabilities. By this period Fiera operated across Canada and had begun building a United States platform, including a Boston office opened in 2011 and a New York presence. The company then pursued a series of United States and international acquisitions. In 2013 it bought Bel Air Investment Advisors in Los Angeles and Wilkinson O'Grady & Co. in New York. In 2014 it acquired Propel Capital, a closed-end-fund provider. In 2015 it purchased Samson Capital Advisors, a New York fixed-income manager, and announced a Japan expansion through a partnership with Nissay Asset Management. In 2016 it acquired Apex Capital Management, Larch Lane Advisors, and London-based Charlemagne Capital. These transactions broadened Fiera's exposure to growth equity, hedge-fund-of-funds, liquid alternatives, and frontier and emerging markets, while Charlemagne became a foundation for European operations. Further expansion followed in 2017 and 2018. Fiera acquired an emerging-markets fund from City National Rochdale and bought Clearwater Capital Partners in Hong Kong, adding private-credit expertise in Asia. It also acquired CGOV Asset Management in Ontario to develop its high-net-worth business. In 2019 Fiera acquired Integrated Asset Management, a private-alternatives lending platform, and purchased Foresters Asset Management from Foresters Financial. That year Natixis Investment Managers acquired an 11% stake in Fiera for approximately C$128 million and entered a strategic distribution arrangement with the firm. Fiera later adjusted its portfolio through divestitures. In January 2021 it sold Bel Air Investment Advisors to Hightower Advisors and sold Wilkinson Global Asset Management to Wilkinson Capital Partners. In January 2022 Natixis sold its stake in Fiera, but the distribution relationship remained in place. Across these phases, Fiera developed from a Canadian investment-management startup into a multi-region manager offering public and private-market strategies to institutional investors, wealth clients, and other investors. Its principal investment region remains North America, especially Canada and the United States, with additional operations and relationships in Europe and Asia.
- 2022
Natixis exits its equity investment
[1]Natixis Investment Managers sells its stake in Fiera while the strategic distribution agreement continues.
- 2021
Bel Air and Wilkinson businesses divested
[1]Fiera sells Bel Air Investment Advisors to Hightower Advisors and Wilkinson Global Asset Management to Wilkinson Capital Partners.
- 2019
Private lending and strategic distribution expansion
[1]Fiera acquires Integrated Asset Management and Foresters Asset Management, while Natixis Investment Managers takes an 11% stake and enters a distribution agreement.
- 2016
European and alternatives expansion
[1]Fiera acquires Apex Capital Management, Larch Lane Advisors, and Charlemagne Capital, broadening growth-equity, alternatives, and European capabilities.
- 2013
UBS Canadian operations and US firms acquired
[1]Fiera acquires UBS Asset Management's Canadian operations and adds Bel Air Investment Advisors and Wilkinson O'Grady & Co. in the United States.
- 2012
Natcan Investment Management acquired
[1]The acquisition of National Bank of Canada's asset-management subsidiary expands reported assets under management to approximately C$54 billion; Fiera returns to its Fiera Capital name.
- 2011
First Boston office
[1]Fiera begins its United States expansion by opening an office in Boston.
- 2010
Merger with Sceptre Investment Counsel
[1]Fiera merges with Sceptre and operates as Fiera Sceptre, a publicly listed company.
- 2006
YMG Capital acquisition
[1]The acquisition strengthens private wealth management and brings reported assets under management to approximately C$26 billion.
- 2005
First alternative strategy launched
[1]Fiera introduces a market-neutral strategy and begins building an alternatives platform.
Products and positioning
A diversified, acquisition-built investment manager combining public-market expertise with alternative, private-market, institutional, and wealth-management capabilities.
Public markets
Public equity strategies
Fiera manages equity mandates for institutional, wealth, and other investors across Canadian, United States, global, emerging-market, and frontier-market exposures. The platform includes long-only public equities and specialized regional or style-oriented approaches developed organically or through acquired investment teams.
Public markets
Fixed-income strategies
The company offers fixed-income management for institutional and wealth clients. Its capabilities were expanded through acquisitions including UBS Asset Management's Canadian operations and Samson Capital Advisors, adding Canadian and United States fixed-income expertise.
Alternatives · 2005
Alternative investment strategies
Fiera's alternatives platform includes market-neutral strategies, liquid alternatives, hedge-fund-of-funds, and other non-traditional approaches. The company began developing this business in 2005 and expanded it through acquisitions such as Larch Lane Advisors and alternative funds obtained from GMP Capital.
Private markets
Private credit and alternative lending
Private-credit capabilities include lending and alternative investment platforms serving investors seeking less-liquid, privately originated opportunities. Clearwater Capital Partners expanded the business in Asia, while Integrated Asset Management added a private-alternatives lending platform.
Wealth management
Wealth-management portfolios
Fiera serves private-wealth and high-net-worth investors through portfolio-management capabilities built through acquisitions including YMG Capital, Canadian Wealth Management Group, Bel Air Investment Advisors, and CGOV Asset Management. Bel Air was later divested in 2021.
Brand decisions
2019
Strategic distribution relationship with NatixisStrategyBackground
Fiera sought international distribution support and a long-term strategic relationship with a global investment-management network.
Action taken
Natixis Investment Managers acquired an 11% interest in Fiera and entered a distribution agreement.
Aftermath
Natixis sold its equity stake in 2022, but the distribution agreement continued.
Natixis investment. Approximately C$128 million for an 11% stake (2019)
2012
Acquire Natcan Investment ManagementM&ABackground
Fiera pursued a major expansion of its Canadian asset-management scale through National Bank of Canada's subsidiary.
Action taken
Fiera paid approximately C$309.5 million in cash and shares to acquire Natcan.
Aftermath
Reported assets under management rose to approximately C$54 billion, and National Bank received a 35% stake in Fiera.
Acquisition consideration. Approximately C$309.5 million (2012)
2010
Merge with Sceptre Investment CounselM&ABackground
Fiera sought greater scale and public-market access through a combination with Sceptre Investment Counsel.
Action taken
The firms merged to form Fiera Sceptre, with Fiera holding 60% of the combined business.
Aftermath
The combined company reported approximately C$30 billion in assets under management and was publicly listed.
Assets under management. Approximately C$30 billion (2010)
2005
Enter alternative strategiesProduct launchBackground
Fiera identified an opportunity to offer non-traditional strategies at a time when many conventional asset managers had limited alternative products.
Action taken
The company launched a market-neutral strategy as its first alternative offering.
Aftermath
The move became the starting point for a broader alternatives platform.
Recent events
Reported
Fiera Capital announces acquisition of global equities capability from AMP Capital[2]
Fiera Capital announced the acquisition of a global equities capability from AMP Capital, including a team of four investment professionals. The proposed transfer of the UCITS platform series remains subject to regulatory and other approvals.
Reported
Hightower acquisition of Bel Air Investment Advisors announced[3]
Hightower is buying Bel Air Investment Advisors from Fiera Capital. The deal was expected to close in the first quarter, subject to customary closing conditions.
Sources3 sources
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