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

Canadian investment firm Fiera Capital Corporation is acquiring Samson Capital Advisors, a New York-based investment management boutique, in a bid to expand into the US high net worth market.

For the sum of $33.5 million, Fiera Capital will acquire Samson’s $7.6 billion in assets under management, bringing its total to some C$96 billion ($76.4 billion). The combined US presence of the two firms stands at $17.2 billion in AuM.

The deal, set to close in the first half of 2015, will help Fiera Capital expand its global asset management reach in the US, where it has previously focused on the institutional market.

As part of the deal, $5 million and additional incentives will be put aside for key employee retention to be paid over the next five years upon the achievement of financial targets.

Samson’s chief executive Benjamin Thomson will become president and CEO of Fiera Capital’s US asset management subsidiary.

Fiera Capital’s focus lies in Canadian foreign equity and fixed income management while Samson’s strategies center on domestic and multi-currency expertise and the tax efficiency, wealth preservation surrounding this.