Canadian asset manager Fiera Capital has confirmed the completed acquisition of Foresters Asset Management from Foresters Life Insurance Company.
Jean-Philippe Lemay, Fiera Capital president and COO of its Canadian division, said: "For Fiera Capital, LDI is a framework for solutions to which we bring a multi-asset reach in a holistic, yet customised, risk management approach that extends beyond fixed income alone."
Fiera Capital said in a statement: "Shortly 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."
Fiera Capital will become the manager of the funds previously under Forester AM's management.
Fiera Capital focuses on institutional and insurance liability-driven investment (LDI), and has around $10.9bn in assets under management. The company is headquartered in Montreal, Quebec, and has offices in North America and Europe, employing a staff of around 750.