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Laxman Pai, Opalesque Asia:

Montreal-based Fiera Capital announced that it is set to acquire Toronto-based Integrated Asset Management (IAM) for a total consideration of $74m.

The CAD136.7bn ($102bn) global asset manager has agreed with IAM to buy all of the shares of the $3.1bn alternative asset manager. Fiera Capital will pay $55.5m in cash and $18.5m of Fiera Capital shares.

Under the agreement, IAM's private debt investment team will join Fiera Private Lending and its industrial real estate team will join Fiera Properties.

The deal is expected to close in the second quarter of 2019, said a press release from Fiera Capital.

"We are acquiring a real estate business with a unique investment strategy that is complementary to Fiera Properties' existing business. For our clients, this means further investment opportunities into an asset class with stable and recurring cash flows and a unique level portfolio diversification," said Peter Cuthbert, the president of Fiera Properties, in the release.

"We are excited to offer a leading private lending platform that is truly national and further develop our real estate investment strategies, while simultaneously driving the growth and distribution of an enhanced suite of private markets strategies," he added.

Jean Gamache, president, Fiera Private Lending, said: "With this acquisition, Fiera Private Lending becomes one of the leading pan-Canadian non-bank lending platforms in the country.

"In addition to......................

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