ClearWater Solutions

ClearWater Solutions operates as a specialized credit affiliate under Fiera Capital, with its investment team based in Auburn, Alabama. The senior leadership and portfolio management team is responsible for all credit approval and portfolio construction decisions, operating with autonomy from Fiera Capital's broader investment platform. Specific named principals are not publicly detailed in available materials.

ClearWater sources investments through a relationship-driven origination model, maintaining deep ties with lower mid-market private equity sponsors across the United States. Its regional presence in Alabama gives it privileged access to a network of sponsors operating outside major financial centers, where competition for deal flow is less intense than in the upper mid-market. The firm does not rely on intermediary-led auctions, instead cultivating repeat-sponsor relationships that generate proprietary financing opportunities.

ClearWater Solutions is an asset manager, not a family office. It functions as a dedicated affiliate of Fiera Capital Corporation, a publicly traded Canadian firm that manages institutional mandates across public and private markets. ClearWater was established or acquired to serve as Fiera's vehicle for US lower mid-market direct lending, operating with a distinct investment team and credit culture.

The firm targets first-lien, senior secured loans issued to private equity-backed companies with EBITDA typically below $25 million. Loans are structured with floating-rate coupons, strong covenant packages, and tight loan-to-value ratios designed to limit downside risk. The strategy avoids subordinated debt, unitranche structures with aggressive leverage, and unfinanced commitment risk from broadly syndicated deals.

ClearWater Solutions is a wholly owned affiliate of Fiera Capital, which acquired or created the firm to build out its US private credit capabilities. ClearWater retains its own brand, investment committee, and origination network, while leveraging Fiera's global distribution, compliance infrastructure, and institutional reporting standards. Fiera Capital trades on the Toronto Stock Exchange under the ticker FSZ.