Skip to main content

Investment manager Fiera Capital Corp. says it is selling a pair of operations in the United States in two separate deals.

The Montreal-based company says it has agreed to sell Bel Air Investment Advisors, its ultra-high-net-worth private wealth platform, to Hightower Advisors.

In the second deal, Fiera says it has completed the sale of Wilkinson Global Asset Management, its New York-based private-wealth investment manager, to Wilkinson Global Capital Partners.

Fiera chairman and chief executive Jean-Guy Desjardins says the moves follow a strategic review of the company’s private wealth operations in the U.S.

The combined selling price for both transactions is about $81-million, excluding transaction costs, and is subject to a final working capital adjustment.

Fiera Capital is an independent global asset management firm with $177.7-billion in assets under management as of Sept. 30, 2020.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Report an error

Tickers mentioned in this story