M and A
Canadian Firm Closes Two Acquisitions, Adds $8.1 Billion In AuM
The independent investment firm, Fiera
Capital Corporation,
has completed its previously-announced acquisitions of Los
Angeles, CA-based
Bel Air Investment Advisors as well as its affiliate Bel Air
Securities, and
New York-based investment manager Wilkinson
O'Grady & Co.
The deals amounted to approximately $156.3 million and are
part of the Canadian firm's strategy to expand in the US. The
moves add some $8.1 billion in assets under management and an
additional
$1.3 billion in consulting assets to the firm's private wealth
sector.
Bel Air currently
serves over 275 families across the US and oversees
approximately C$7.7 billion in assets. Wilkinson O'Grady & Co
actively
manages separate global, domestic and international portfolios
for wealthy individuals, families, trusts, endowments,
foundations, corporations and other clients.
With the deals closed, Fiera’s total assets under management
have now reached $74 billion, an increase of roughly 13 per cent
compared to
its earnings as of June 31, 2013.
