Fiera Capital - Management Share Purchase from Desjardins

Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. Sun Life Assurance Company of Canada purchases units of the funds listed below, which are established as segregated funds under the Insurance Companies Act (Canada).

On April 24, 2024, Desjardins Financial Holding Inc. (Desjardins) announced the sale of all its stake in Fiera Capital Corporation (Fiera Capital).

On June 21, 2024, Fiera Capital announced that its senior management and some board members acquired all the shares of Fiera Capital that were previously held by Desjardins. The new ownership structure of Fiera Capital is now 79% publicly traded stock and 21% owned by Fiera Capital’s senior management and board members.

Fiera Capital’s senior management and two board members have acquired Desjardins’ holdings in an approximately $53 million transaction. Senior management includes: 

  • Jean-Guy Desjardins, Chairman of the Board and Global CEO of Fiera Capital, who increased his stake in Fiera Capital
  •  Maxime Menard, Fiera Capital CEO.
  • John Valentini, Fiera Capital Private Markets CEO.
  • Six additional members.

Rationale

Fiera Capital views the increased ownership stake as an opportunity to align senior management and board members’ interests and long-term incentives with Fiera Capital’s strategic goals.

GRS Investment Solutions View:

We are not overly concerned with the impact of the new ownership, given the continuity of the current organizational structure and retention of key personnel. This new ownership stake ensures that the limited partnership remains intact with Jean-Guy Desjardins maintaining control of Fiera Capital. We will continue to monitor the developments at Fiera Capital and provide any updates as necessary.

Do you have to take any action?

You and your members don’t have to take any action as a result of these changes.

Questions?

Please contact your Sun Life Group Retirement Services representative.