Independent asset management firm Fiera Capital Corporation has completed its acquisition of the business of CGOV Asset Management (CGOV), an Ontario-based investment management firm focused on high-net-worth and institutional investors, with CAD5 billion in AUM.
This transaction brings Fiera Capital’s total AUM to over CAD136 billion, and significantly increases the firm’s presence in the Canadian high-net-worth market. The transaction is expected to be modestly accretive (low to mid-single digit) to adjusted EPS within the first full year post closing.
“It is our pleasure to officially welcome the CGOV team to Fiera Capital, including Founding Partner Don Cranston and President Ted Ecclestone,” says Jean-Philippe Lemay (pictured), President and Chief Operating Officer of Fiera Capital’s Canadian Division. “The significant footprint and seasoned investment expertise gained as a result of the transaction enables Fiera Capital to be a competitive force in the high-net-worth segment in Canada.”
“I am excited to join a thriving global asset management firm like Fiera Capital,” says Ted Ecclestone, former President, CGOV, and now head of Fiera Capital’s Canadian Private Wealth team. “This transaction will provide CGOV clients the ability to create more robust portfolios by augmenting their current portfolios with Fiera Capital’s diverse suite of investment solutions. It will also provide a stable, long-term platform for the CGOV investment team to continue delivering value to our institutional clients. I look forward to working with the combined entity and I am confident that we have the right team in place to continue delivering value to clients.”
