Fiera Private Debt holds $350M initial close for Fund VII

CPE News

CPE News (2.7.2024) – Fiera Private Debt Inc., an indirect wholly-owned subsidiary of Fiera Capital Corporation (TSX: FSZ), has held a first close of the seventh vintage of its flagship Canadian private credit fund, Fiera Private Debt Fund VII, raising $350 million for the strategy through a closed-end fund and a separately managed account.

Since the firm’s inception in 1995, Montreal/Toronto based Fiera Private Debt has raised and invested over $3.5 billion in capital in mid-market Canadian companies that exhibit strong return metrics coupled with downside protection. Fiera Private Debt manages a diversified suite of private credit strategies including investment grade equivalent private debt, opportunistic credit, bridge financing and infrastructure debt.

As of December 31, 2023, Fiera Private Debt had $1.7 billion in assets under management including $250 million in undrawn commitments.

Fiera Private Debt is led by John Valentini (Executive Director, President & CEO of Fiera Private Markets), Theresa Shutt (Head of Corporate Debt) and Paul J. Colatrella, (Head of Infrastructure Debt).

photo credit: Fiera Private Debt

News Release

Fiera Private Debt Raises $350M in First Close of Seventh Vintage of its Flagship Canadian Private Credit Strategy

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TORONTO, Feb. 6, 2024 /CNW/ – Fiera Private Debt Inc. (“Fiera Private Debt”), a wholly-owned subsidiary of Fiera Capital Corporation (TSX: FSZ) (“Fiera Capital” or the “Company”), is proud to announce the first close of the seventh vintage of its flagship Canadian private credit fund, Fiera Private Debt Fund VII (“FPD VII”), having raised $350 million for the strategy through a closed-end fund and a separately managed account.

FPD VII benefitted from strong institutional investor support as clients recognized the unique opportunity presented by Fiera Private Debt’s differentiated strategy focused on providing senior secured term debt financing directly to high quality, middle-market Canadian businesses. The objective of the strategy is to originate and proactively manage a diversified portfolio of high-quality private debt investments offering stable cash flow, enhanced yield and low volatility.

“Our team is pleased by the endorsement of both existing and new investors, which continues to validate our unique and longstanding position in the Canadian debt market. We leverage our long track record of successful investment selection and rigorous underwriting to create customized debt solutions generating attractive returns,” said Theresa Shutt, Head of Corporate Debt. “As such, our investors are attracted by the out-sized cash yield and downside protection that have been central tenets of our strategy for over 30-years. We are thrilled to be able to support Canadian businesses through their next phase of growth and evolution.”

John Valentini, Executive Director, President and Chief Executive Officer of Fiera Private Markets commented, “Fiera Private Debt has a leadership position in the Canadian market providing private credit strategies targeting the mid-market segment that provides attractive returns for investors. Not only are we able to achieve attractive risk-adjusted returns for our investors, but we also provide an important source of capital in support of our borrowers. Our innovative approach to borrower engagement has solidified our position as the non-bank lender of choice for Canadian middle-market businesses seeking a sophisticated financing partner.”

About Fiera Private Debt
Fiera Private Debt, a wholly-owned subsidiary of Fiera Capital Corporation, is a leading Canadian private debt manager with a 30+ year track record in originating and managing private debt investments for institutional investors. Since the firm’s inception, Fiera Private Debt has raised and invested over $3.5 billion in capital in mid-market Canadian companies that exhibit strong return metrics coupled with downside protection.

Fiera Private Debt manages a diversified suite of private credit strategies including investment grade equivalent private debt, opportunistic credit, bridge financing and infrastructure debt.

https://www.fieraprivatedebt.com/

Fiera Private Debt is not registered with the U.S. Securities and Exchange Commission and does not currently provide services in the United States or to U.S. investors.

About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with a growing global presence. The Company delivers customized and multi-asset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com

Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (U.S.), London (UK), and Hong Kong (SAR).

Each affiliated entity (each an “Affiliate”) of Fiera Capital only provides investment advisory or investment management services or offers investment funds in the jurisdictions where the Affiliate is authorized to provide services pursuant to an exemption from registration and/or the relevant product is registered.

Fiera Capital does not provide investment advice to U.S. clients or offer investment advisory services in the US. In the U.S., asset management services are provided by Fiera Capital’s affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult https://www.fieracapital.com/en/registrations-and-exemptions.

Additional information about Fiera Capital, including the Fiera Capital’s annual information form, is available on SEDAR+ at www.sedarplus.ca.

Disclosure
The information presented is for informational purposes only and is not intended to be, and should not be construed as, an offer to sell, or the solicitation of an offer to buy, any investment product. The information presented in this document, in whole or in part, is not investment, tax, legal or other advice, nor does it consider the investment objectives or financial circumstances of any investor.

This document may contain “forward-looking statements” which reflect the current expectations of Fiera Capital and/or its Affiliates. These statements reflect current beliefs, expectations, and assumptions with respect to future events and are based on information currently available. Although based upon what Fiera Capital and its affiliates believe to be reasonable assumptions, there is no guarantee that actual results, performance, or achievements will be consistent with these forward-looking statements. There is no obligation for Fiera Capital and/or its Affiliates to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Fiera Capital Corporation

For further information: Fiera Private Debt, infofpd@fieracapital.com, Media inquiries: communication@fieracapital.com