Fiera Capital’s premier independent Canadian distribution platform to be enhanced with access to Natixis’ global active investment strategies

  • Long-term agreement establishes Fiera Capital as Natixis’ preferred distributor in Canada
  • Natixis to acquire an 11.0% stake in Fiera Capital for C$128.16 million
  • Fiera Capital intends to repurchase for cancellation 2.45 million Fiera Class A Shares from National Bank of Canada
  • Natixis Investment Managers CEO Jean Raby to join Board of Fiera Capital
Fiera Capital Corporation (“Fiera Capital”) (TSX: FSZ) and Natixis Investment Managers (“Natixis”) have entered into a long-term strategic partnership that will establish Fiera Capital as Natixis’ preferred Canadian distribution platform, giving Fiera Capital’s clients access to Natixis’ wide range of highly active investment strategies. As part of the agreement, Natixis has strengthened its commitment to the Canadian market through the acquisition of an 11.0% stake in Fiera Capital (limited impact on Natixis’ CET1 ratio), and Natixis Investment Managers’ CEO, Jean Raby, will join Fiera Capital’s board of directors.

The partnership between Fiera Capital and Natixis includes:
  • the acquisition by Natixis of a total of 10.68 million Class A subordinate voting shares of Fiera Capital (the “Fiera Class A Shares”) from a wholly-owned subsidiary of National Bank of Canada (“NBC”), and DJM Capital, an entity controlled by Jean-Guy Desjardins (“DJM Capital”), for a total consideration of C$128.16 million (“Natixis Share Acquisition”);
  • a long-term distribution agreement under the terms of which Fiera Capital will become Natixis’ preferred Canadian distributor for its investment strategies and products, and Natixis is able to offer its international clients complementary Fiera Capital investment strategies through its Dynamic Solutions platform;
  • a purchase agreement pursuant to which Fiera Capital will acquire Natixis’ Canadian operations (the “Natixis Canada Transaction”).
Fiera Capital also intends to repurchase for cancellation 2.45 million Fiera Class A Shares from a wholly-owned subsidiary of NBC for a total consideration of C$29.40 million (the “Share Repurchase”).

Closing and settlement of the Natixis Share Acquisition and of the Share Repurchase is expected to occur concurrently on May 9, 2019.

“This partnership with Natixis will further strengthen Fiera Capital’s global leadership position as we continue to execute on our 2022 strategic plan to become one of the top 100 asset managers in the world,” said Jean-Guy Desjardins, Chairman and CEO, Fiera Capital. “We are excited to offer Natixis’ highly rated active global investment strategies to our Canadian client base and to establish a long-term partnership with a global player with C$1.2 trillion AUM and a presence in 38 countries.”

“We are pleased to expand our commitment to the Canadian market by establishing this long-term partnership with one of its premier asset managers, Fiera Capital,” said Jean Raby, CEO of Natixis Investment Managers. “Fiera Capital has an experienced team, a strong track record and a leading distribution network in Canada, and this partnership will enable both firms to better serve our clients by offering a broader range of active investment strategies.”

“Our relationship with Fiera remains strong, and Fiera continues to be a key provider of asset management services to us. We recently agreed to extend that relationship for a further three-year period. We look forward to continuing to work with their management team,” said Louis Vachon, CEO, National Bank of Canada.

“The long-term distribution agreement with Natixis marks a major milestone for Fiera Capital and is a testament to our leadership in Canada and our growing presence worldwide. Furthermore, our distribution agreement will provide Fiera Capital clients with an expanded suite of investment strategies and offers the potential for international growth through Natixis’ Dynamic Solutions offering,” said Vincent Duhamel, Global President and COO, Fiera Capital.

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About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with approximately C$144.9 billion in assets under management as of March 31, 2019. The Firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital’s depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com

In the U.S., asset management services are provided by the Firm’s U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.

Additional information about Fiera Capital Corporation, including the Firm's annual information form, is available on SEDAR at www.sedar.com.

Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès France
75013 Paris
www.im.natixis.com

This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.