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Fiera Capital closes deal for Ontario-based CGOV Asset Management

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Fiera Capital closes deal for Ontario-based CGOV Asset Management

Fiera Capital Corp. has completed the previously announced acquisition of CGOV Asset Management, an Ontario-based investment management firm that had about C$5.0 billion in assets under management as of March 31.

Fiera Capital paid C$114.2 million, including C$48.2 million in cash and C$66 million through the issuance of 5,541,561 class A subordinate voting shares of Fiera Capital at C$11.91 each. The final price is subject to customary post-closing adjustments.

This transaction will bring Fiera Capital's total assets under management to more than C$136 billion.

The transaction is expected to be accretive in the low- to mid-single-digit range to adjusted EPS in the first full year after the deal is completed.