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.

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