Two New York-based investment management firms have been officially rebranded now that their acquisition by Canadian money manager Fiera Capital Corp. is completed.
Samson Capital Advisors and Wilkinson O’Grady Inc. & Co. will now operate under Fiera Capital Inc., effective immediately, parent company Fiera Capital Corp. said in an April 4 press release.
The two firms establish the backbone of the Montreal-based money manager’s U.S. division, according to the release.
With an eye on the growth potential in the U.S. private wealth market, Fiera originally purchased Wilkinson O’Grady in September 2013 in a $31.25 million deal, followed by Samson in 2015 in a deal valued at $33.5 million.
Those transactions followed Fiera’s Capital Corp.’s 2011 decision to expand into the U.S. to increase assets through the acquisitions of smaller U.S. companies – both institutional and private wealth.
When it purchased Wilkinson O’Grady in 2013, Fiera Capital Corp. chief executive officer Jean-Guy Desjardins said the firm aimed to “create value by becoming a leading North American investment–management firm within the next five years.”
Shortly after the Samson acquisition, the two asset management firms were combined as one unified team late last year, and began sharing office space in midtown Manhattan, according to the release.
The combined unit, operating as Fiera Capital Inc., had $10.3 billion of assets under management as of Dec. 31, 2015, according to a spokesperson.
Those assets are expected to grow to $17 billion when Fiera’s acquisition of growth equity manager Apex Capital Management closes later this month.
The acquisition of Samson and Wilkinson is expected to help Fiera build its seasoned investment team, boost long-term investment performance, and enhance the firm’s reputation for client service.
Founded in 2004, Samson became an independent global fixed income and currency boutique whose core fixed income, municipal bond, and currency investment strategies focused on tax efficiency, real wealth preservation, and the development of non-correlated strategies built on domestic and multicurrency expertise.
A decade later, amid the surge in demand for wealth management advice, municipals represented 80% of Samson’s clients, which had tripled to $7.4 billion from $2.4 billion at inception, The Bond Buyer reported in July 2014.
Wilkinson was founded in 1972, and manages global, domestic, and international portfolios for individuals, families, trusts, endowments, and foundations around the world.
“Combined with Fiera Capital’s existing U.S. institutional team, Samson and Wilkinson O’Grady’s teams truly reinforce our full-fledged asset management operation in the U.S.,” Thompson said in the release.
Fiera Capital Corp. is an independent asset management firm listed on the Toronto Stock Exchange. It offers a wide range of traditional and alternative investment solutions to institutional, private wealth, and retail clients in Canada.
