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Fiera Capital
Fiera Capital was founded in 2003 by Jean-Guy Desjardins, who seeded the firm with a Canadian institutional fixed-income mandate after a career that included...
Fiera Capital
Fiera Capital was founded in 2003 by Jean-Guy Desjardins, who seeded the firm with a Canadian institutional fixed-income mandate after a career that included co-founding TAL Global Asset Management. The firm went public on the Toronto Stock Exchange in 2010 and subsequently embarked on an aggressive acquisition strategy, absorbing boutiques including Natcan Investment Management, Wilkinson O'Grady, and the U.S.-based Apex Capital Management. The Desjardins Group remains a significant shareholder, anchoring the firm's Quebec institutional base. The firm operates a multi-boutique model where autonomous investment teams run distinct strategies under a centralized distribution and operations umbrella. Asset classes span public equities, fixed income, private credit, real estate, and infrastructure. Real estate investments include direct property holdings and development projects across Canada and the U.S. The private credit arm extends senior and mezzanine financing to middle-market companies. Infrastructure strategies target renewable energy, transportation, and utilities. Fiera Comox, a joint venture formed in 2021, manages global private equity and credit portfolios, with investments including agricultural assets in New Zealand and Australia. Fiera Capital reported approximately C$158 billion in assets under management as of its Q3 2023 filings, making it one of the largest independent Canadian asset managers. The firm employs over 800 professionals across offices in North America, Europe, and Asia. In April 2023, Fiera announced the acquisition of a majority stake in a U.K.-based real estate debt manager, expanding its European private credit capabilities. The firm also maintains Fiera Capital Foundation, a philanthropic vehicle supporting education and community health initiatives in Quebec. Fiera's publicly traded structure sets it apart from most independent Canadian asset managers, creating a permanent capital base that funds acquisitions without a fund-level liquidity clock. This allows it to buy and hold specialized boutiques indefinitely rather than integrating them into a single house strategy, preserving portfolio manager autonomy while cross-selling the combined product shelf to institutional allocators globally.
General information
Firm type
Bank / Wealth / Trust
Year founded
2003
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
New York
Corporate office
Montreal, Quebec, Canada
Additional offices
London, UK · New York, NY, United States · Hong Kong
Principals
Jean-Guy Desjardins
Chairman of the Board and Global Strategic Advisor
Jean-Philippe Lemay
Global President and Chief Executive Officer
Sector focus
Frequently asked questions
How does Fiera Capital's multi-boutique structure differ from a traditional asset manager?
Fiera acquires specialized investment teams and gives them operational autonomy — each boutique retains its own brand, investment process, and portfolio management team. This contrasts with a house-of-brands model where strategies are homogenized. The centralized platform handles distribution, compliance, and back-office functions, which the firm argues preserves the investment edge of each boutique while capturing scale economies.
Who controls the investment decisions at Fiera Capital?
Jean-Guy Desjardins, the founder, remains the Chairman and Global Strategic Advisor and exerts significant influence over capital allocation and acquisition strategy. Day-to-day investment decisions sit with the individual boutique heads. Jean-Philippe Lemay, appointed Global President and CEO, oversees the overall platform and distribution strategy.
Does Fiera Capital participate in direct private equity investments or only fund commitments?
Through Fiera Comox, its joint venture formed in 2021, Fiera makes direct private equity and private credit investments alongside co-investors. The platform targets control and significant minority positions in middle-market companies globally, with a particular focus on agriculture, renewable infrastructure, and business services. The firm also commits to third-party funds where the investment team lacks direct sourcing.
What is Fiera Capital's exposure to real assets?
Real assets represent a material portion of Fiera's AUM through direct real estate holdings in Canadian and U.S. commercial and multi-family properties, and an infrastructure platform investing in renewable energy, transportation, and utilities. The firm also manages farmland and timberland assets through the Fiera Comox agriculture strategy, which has acquired properties in New Zealand and Australia.
How is Fiera Capital related to Desjardins Group?
Desjardins Group, the largest financial cooperative in Canada, is a significant shareholder of Fiera Capital and a key distribution partner. The relationship traces back to Fiera's early institutional mandates. However, Fiera operates as an independent public company — Desjardins does not control day-to-day management or investment decisions, though the cooperative's institutional backing provides stability and distribution reach within Quebec.
What is Fiera Capital's posture on co-investments alongside external GPs?
Fiera participates in co-investment opportunities, particularly through its private credit and infrastructure arms. The firm sources co-investments both from sponsor relationships and through its direct origination teams. Allocators committing to Fiera's private market vehicles typically receive pro-rata co-investment access alongside the firm's own balance sheet capital, which is deployed pari-passu.
Does Fiera Capital maintain any philanthropic structures?
The Fiera Capital Foundation directs charitable giving toward education, community health, and arts organizations, primarily in Quebec. The foundation is separately governed from the investment management business and is funded through corporate contributions and employee donations. It operates as a donor-advised vehicle rather than a direct operating foundation.
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