Fiera Capital Corp. has agreed to establish a subadvisory partnership with StonePine Asset Management Inc.
The new firm will be led by Nadim Rizk, head of Fiera Capital's global equity team in Montreal, and will continue to provide investment management services to Fiera Capital. Supported by Fiera Capital's institutional infrastructure, Rizk's global equity franchise has grown from C$300 million ($239 million) in assets under management to C$60 billion ($48 billion), as of June 30.
StonePine will be a Canadian company and is currently seeking registration as a portfolio manager and/or investment adviser with the relevant regulatory authorities.
Following the transaction, Fiera Capital will maintain direct relationships with clients as the investment manager/adviser, while StonePine will provide subadvisory services and oversee investment decisions with respect to the company's global EAFE (Europe, Australasia and the Far East) and U.S. equity strategies, which