TORONTO – Fiera Capital Corp. (TSX: FSZ) is expanding in the real estate investment management business through the merger of a subsidiary with Halifax-based Roycom Inc.
Financial details of the merger between Fiera Properties Ltd. and Roycom, which they said was aimed at creating “a new national real estate investment platform,” were not disclosed.
The business will be focused on providing clients with pooled fund and segregated account management services.
“When Fiera Capital Corp. and Axia Investments jointly created Fiera Properties Ltd., we determined that the best growth strategy for our new organization would be to team up with an industry leading partner with an existing platform and solid track record,” said Stuart Lazier, CEO of Fiera Properties.
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“By joining with Roycom, we have found the right partner that will help us launch our business and market new products,” said Lazier, who will remain as CEO of the merged entity.
“Our investors will recognize us as a trusted real estate investment management firm which serves the evolving needs of the investment community through intelligent innovation in all of our products and services.”
Rob Roy, president of privately held Roycom, said his company foresees “great prospects” in joining the “Fiera Capital family.”
Roy will be president of the organization, leading a combined team of 12 professionals in Halifax and Toronto.
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“We are excited about working with this experienced and highly credible management team as we introduce real estate investment strategies to our clients,” added Fiera Capital CEO Jean-Guy Desjardins.
Fiera Properties Limited was created in 2011 with the goal of building a national real estate investment services platform offering institutional investors innovative real estate investment opportunities.
Established in 1976, Roycom Inc. is a Halifax-based full-service investment management firm offering acquisition, asset management, property management, leasing and disposition services in all primary Canadian markets. It has some $500 million in assets under management across the country.
Fiera Capital, with about $54 billion in assets under management, is a full service, multi-product investment firm offering equity and fixed income management with expertise in asset allocation and alternative investments.
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