Fiera Capital has gone south of the border as part of its drive to increase its global asset management footprint.

Canada-listed Fiera Capital Corporation has completed its acquisition of New York-based Samson Capital Advisors, the US fixed income investment management firm, for around $31.5 million.

The deal involves $7.2 billion in AuM and will help Fiera extend its global asset management reach in the US, where it has until now focused on the institutional market.

The firm previously said that Samson’s chief executive, Benjamin Thomson, will become president and CEO of Fiera Capital’s US asset management subsidiary.

As of end-September, Fiera had around C$89 billion ($68 billion) in AuM.