Montreal-based asset management firm Fiera Capital established New York Life Investments as a U.S. distribution partner via a new strategic distribution partnership announced on Monday.
The deal contains certain exclusivity rights in the U.S. retail intermediary channel for various investment strategies managed by Fiera Capital affiliates Fiera Capital Inc. (FCI), Fiera Comox Partners Inc. and Fiera Capital (UK) Ltd.’s Atlas Global Companies team. The agreement will also boost the distribution of FCI’s Tax Efficient Fixed Income separately managed account strategies, as well as its U.S. Growth Equity team’s flagship Small-Mid Cap Growth and Small Cap Growth SMA strategies.
Fiera has been in expansion mode, most recently appointing Wenzel Hoberg as global head of real estate, based in the firm’s Toronto offices
“As we continue to fortify our global distribution capabilities across public and private markets, I am excited to announce this new distribution partnership with New York Life Investments,” said Fiera Capital Chairman and CEO Jean-Guy Desjardins. “New York Life Investments’ unwavering dedication to providing their clients with meaningful investment outcomes and competitive performance through their multi-boutique model, is on par with our own passion for creating sustainable prosperity for our clients through the efficient allocation of capital.”
Fiera Capital, which has about C$158.5 billion ($115.58 billion) in assets under management, offers bespoke and multi-asset solutions for public and private market asset classes to institutional, financial intermediary and private wealth clients in North America, Europe and key APAC markets. New York Life Investments comprises the affiliated global asset management businesses of its parent company, New York Life Insurance Company, has over $660 billion in AUM and provides access to specialized, independent investment teams through its family of affiliated boutiques.
“We are thrilled to partner with Fiera Capital to significantly expand our SMA offerings for our clients,” said Jac McLean, head of U.S. Distribution for New York Life Investment Management. “Fiera Capital is an attractive partner given their diversified investment platform across asset classes, depth of expertise, and commitment to delivering outstanding service, which underscore New York Life Investments’ core values.”