Canadian asset manager Fiera Capital has agreed to purchase UK-based Charlemagne Capital in an all-cash deal valued at £40.7m ($52.8m).
Founded in 2000, Charlemagne Capital is an equity investment manager with US$2.2bn assets under management (AUM). Currently, it operates in the Isle of Man and London with a branch office in Germany.
The deal, which is subject to customary closing conditions including regulatory approvals, will provide Fiera with an entry into the emerging and frontier markets and help in distribution of its existing investment strategies
Currently, the firm offers services outside of North America with mandates in South Africa, Japan, Australia and the UK, and in select European markets.
Fiera Capital chairman and CEO Jean-Guy Desjardins said: "The acquisition of Charlemagne Capital would be an important step in advancing our global presence by teaming up with a high quality emerging and frontier markets specialist, with an excellent track record of performance, a proven team of investment professionals and a strong culturally aligned management team.
"The addition of emerging and frontier markets strategies to our strong global offering in equities would benefit our clients who are consistently looking for diversification opportunities."
Charlemagne Capital CEO Jayne Sutcliffe said: "Fiera Capital is a performance driven, client-focused firm with a strong emphasis on teamwork. As such, Fiera Capital has committed to preserve and support the culture and infrastructure of Charlemagne Capital.
"Our Board believes that this transaction is an excellent solution for our broad range of institutional and wealth management investors, who will benefit from being part of Fiera Capital with its complementary culture, financial strength and North American distribution network.”