On January 30, 2013, Fiera Capital (TSX: FSZ) announced that it had reached an agreement with GMP Capital to acquire GMP Diversified Alpha Fund and the Canadian ABCP Fund for $10.75 million cash consideration and 25% of performance fees based on the acquired assets, paid for a period of three years. Key GMP management team members will join and receive a minority interest in a newly created Fiera Capital subsidiary.
On January 30, 2013, Fiera Capital Corporation (TSX: FSZ) announced that it had reached an agreement with GMP Capital Inc. to acquire its flagship funds GMP Diversified Alpha Fund and the Canadian ABCP Fund for $10.75 million cash consideration and 25% of performance fees based on the acquired assets, paid for a period of three years and subject to minimum asset under management thresholds. Key GMP management team members will join and receive a minority interest in a newly created Fiera Capital subsidiary.
The acquired funds are currently managed by GMP Investment Management L.P., a Toronto-based asset management firm, and represent approximately $570 million in assets under management. Fiera Capital is an independent Canadian investment firm with approximately $58 billion in assets under management.
To read the press release, please click here.
