Business
Fiera Capital acquires 80% interest in Palmer Capital as it further expands its footprint in Europe
Fiera Capital acquires 80% interest in Palmer Capital as it further expands its footprint ...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital acquires 80% interest in Palmer Capital as it further expands its footprint in Europe\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL and LONDON, Dec. 21, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MONTREAL and LONDON, Dec. 21, 2018 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) (\"Fiera Capital\" or the \"Firm\"), a leading independent asset management firm, announced today that it has reached an agreement for the acquisition of an 80% interest in Palmer Capital Partners Limited (\"Palmer Capital\"), a leading UK focused real estate investment manager, based in London, UK. The acquisition will be made through Fiera Capital's wholly owned subsidiary, Fiera Properties Limited (\"Fiera Properties\"), its dedicated real estate investment management company, which provides direct real estate investment opportunities to institutional investors, foundation and endowment clients, and high net worth individuals. \nPalmer Capital, founded in 1992, has over £800 million in assets under management with an additional £215.5 million managed through the joint ventures of eight regional property companies in which it is a minority shareholder (as at 30th September 2018). It will remain independently managed but will become the UK arm of Fiera Properties, part of Fiera Capital's alternative asset offerings. Ray Palmer, the founder of Palmer Capital, will remain the Executive Chairman and Alex Price, Chief Executive Officer, will continue to run the day to day strategy and operations of the business.\n\"Palmer Capital is a perfect fit for us as we look to further grow our footprint outside of North America,\" said Vincent Duhamel, Global President and Chief Operating Officer, Fiera Capital. \"This is a strategic acquisition with a growing business in Europe and the United Kingdom – key areas of focus for us as we expand globally. We have grown significantly over the last decade by acquiring stakes in b...