Fiera Capital Corp. has formed a C$500 million ($383 million) joint venture with Aquila Infrastructure Management. The alternative investment joint venture, Fiera Infrastructure, will increase Fiera Capital's infrastructure asset portfolio to C$1.2 billion ($92 Million).The new company will be headed by Alina Osorio, current CEO of Aquila.
In December, Fiera Capital Corp. agreed to sell its approximately 35 percent equity ownership in Axium Infrastructure to Axium.
Infrastructure spending in Canada will be the focus of the new Canadian government’s first federal budget, according to the CBC. The plan is expected to invest an extra $60 billion over the next decade into the Canadian economy in a bid to boost growth and create jobs, starting with nearly $10 billion this fiscal year.
Canadian Manufacturers and Exporters supports the plan to boost infrastructure spending. “I think this is a really important budget for the state of the Canadian economy,” said president and chief executive officer Jay Myers. The CME’s biggest concern is future plans to introduce what business regards as new taxes, such as carbon reduction schemes and higher Canada Pension Plan deductions.