Fiera Capital Corporation has announced its acquisition of leading Quebec-based private investment manager Centria Commerce Inc. from DJM Capital Inc. Fiera Capital will integrate Centria’s alternative investment portfolio of funds that provide construction financing, real-estate investment, and short-term business financing. The new in-house alternative funds will be offered directly to clients as part of a new private lending platform called Fiera Private Lending.
First acquired in 2002 by a predecessor of DJM, Centria has worked closely with Fiera Capital since 2008. Substantially all funds invested by Centria in its private lending activities have been from Fiera Capital’s private wealth clients, with almost all of the $325 million worth of assets managed by Centria being part of Fiera Capital’s existing client assets.
“The Centria team is well known to Fiera Capital and has earned our confidence. Thanks to its talented team and strong governance process, Centria has built a portfolio with outstanding risk-reward characteristics, stable returns and an extremely low default rate. They have delivered attractive returns to our clients,” said Fiera Capital Executive Vice President and Chief Financial Officer John Valentini. “As a leading independent investment management firm, Fiera Capital is exceptionally well-positioned to take advantage of the growing alternative investment universe.”
“With this transaction, we are bringing to Fiera Capital a seasoned team in construction financing, real estate investment and short-term business financing,” said Centria President and Chief Operating Officer Jean Gamache. “Our knowledge of underwriting, loan origination, and research as well as our execution capabilities bring a set of competencies that we believe will be valuable to other Fiera Capital teams and benefit the firm as a whole.”
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