French manager Natixis IM takes 11% stake in Canadian manager Fiera Capital to expand in the country

Eugenia Jiménez
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French manager Natixis IM takes 11% stake in Canadian manager Fiera Capital to expand in the country

French firm Natixis Investment Management is taking an 11% stake in Canadian asset manager Fiera Capital for some €84.84m in a strategic partnership that places Fiera Capital as Natixis' preferred distributor in Canada.

Through the agreement, Fiera Capital will distribute Natixis' investment strategies to Canadian institutional, private wealth and retail clients while the French manager will offer complementary Fiera Capital investment strategies in international markets through its Dynamic Solutions platform.

The deal will also see Natixis Investment Managers CEO Jean Raby joining the board of Fiera Capital while the Canadian manager will repurchase for cancellation 2.45 million Fiera Class A shares from National Bank of Canada.