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Fiera Capital completes acquisition of Foresters Asset Management Inc
Fiera Capital completes acquisition of Foresters Asset Management Inc Canada NewsW...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital completes acquisition of Foresters Asset Management Inc\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, Aug. 16, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES ORDISSEMINATION IN THE UNITED STATES/\n MONTREAL, Aug. 16, 2019 /CNW Telbec/ - Fiera Capital Corporation (\"Fiera Capital\") (TSX: FSZ), a leading independent asset management firm, announced today that it completed its previously announced acquisition of all the issued and outstanding shares of Foresters Asset Management Inc. from Foresters Life Insurance Company. Upon closing, Foresters Asset Management Inc. was renamed Fiera Capital Fund Management Inc. (\"FCFM\").\nFCFM is an Ontario-based investment management firm focused on institutional and insurance liability-driven investment (\"LDI\") with approximately $10.9 billion in assets under management (\"AUM\") as of July 31, 2019. \nShortly following the closing of the transaction, Fiera Capital will incorporate the FCFM business into its existing Canadian operations, by amalgamating Fiera Capital and FCFM, as well as by effecting certain changes to FCFM's senior officers, directors and portfolio managers during the interim period between closing and amalgamation. As a result of these changes, Fiera Capital will become manager and portfolio manager of the funds previously managed by FCFM. All required unitholder and regulatory approvals were obtained. Details about the changes were contained in meeting materials that were mailed to unitholders on July 19, 2019.\nThe transaction is expected to be accretive to adjusted EPS within the first full year post closing. \nForward-Looking Information \nThis announcement contains forward-looking statements. These statements relate to future events and reflect management's expectations or beliefs regarding such future events, based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as \"may\", \"will\", \"plans\", \"believes\", \"expects\", \"...