On September 3, 2013, Fiera Capital Corporation (TSX: FSZ) announced that it had agreed to acquire Bel Air Investment Advisors, a Los Angeles-based wealth manager, and Wilkinson O’Grady, a New York-based global investment manager. The total consideration for both transactions is approximately $156.3 million.
On September 3, 2013, Fiera Capital Corporation (TSX: FSZ) announced that it had agreed to acquire Bel Air Investment Advisors, together with its affiliate Bel Air Securities LLC. Fiera Capital will acquire Bel Air for $125 million, subject to adjustment, consisting of a maximum of $115 million in cash and the remainder issued in Fiera Class A Subordinate Voting shares over a period of 32 months following the closing. Bel Air is a wealth management firm serving ultra-high net worth clients with approximately $7.3 billion in assets under management. Silver Lane Advisors acted as financial advisor to Bel Air.
Fiera Capital also announced its acquisition of Wilkinson O’Grady, a New York-based global investment manager, for $31.25 million. Wilkinson O’Grady has approximately $2.1 billion in assets under management.
Both transactions are subject to customary conditions and regulatory approvals, and are expected to close on or around October 31, 2013.
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