Business
Fiera Capital closes acquisition of 80% interest in Palmer Capital and further expands its footprint in Europe
Fiera Capital closes acquisition of 80% interest in Palmer Capital and further expands its...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital closes acquisition of 80% interest in Palmer Capital and 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, April 3, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MONTREAL and LONDON, April 3, 2019 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) (\"Fiera Capital\" or the \"Firm\"), a leading independent asset management firm, announced today that it completed its previously announced 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 was made through Fiera Properties Limited (\"Fiera Properties\"), Fiera Capital's dedicated real estate investment platform, 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 £260 million managed through the joint ventures of eight regional property companies in which it is a minority shareholder (as at December 31, 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.\nThis acquisition marks Fiera Capital's first acquisition of a real estate investment management business outside of Canada and its second acquisition in the UK market following its acquisition of boutique fund manager Charlemagne Capital in 2017. Expanding globally, in March 2018 Fiera Capital increased its presence in Asia with the acquisition of Clearwater Capital Partners. \n\nUnder the terms of the purchase agreement for the acquisition, the 80% inter...