MONTREAL and NEW YORK CITY, July 9, 2024 /PRNewswire/ - Fiera Comox Partners Inc. ("Fiera Comox"), an affiliate of Fiera Capital Corporation (TSX: FSZ), is pleased to announce the signing of an agreement to enter a newly established joint venture with Ngai Tahu Holdings ("Ngai Tahu") relating to Ngai Tahu's forestry estate on the West Coast of New Zealand, South Island. Fiera Comox will acquire an 85% interest in the joint venture, with Ngai Tahu retaining a 15% interest.
The estate is situated on approximately 45,500 hectares (110,000 acres) and consists primarily of radiata pine and Douglas fir plantation forests. The forests are sustainably managed under a Forest Stewardship Council certification.
For Fiera Comox, the investment marks the initial acquisition by Fiera Comox's Global Sustainable Timberland Strategy (the "Timberland Strategy"), which invests in high-quality, private forests globally. The Timberland Strategy is led by a team of highly experienced professionals who have acquired over 2 million acres of timberland in transactions representing several billion dollars in value. Members of the team also have deep operational experience having run one of North America's largest private timberland companies managing over 1.5 million acres, driving significant improvements in safety, sustainability, and financial performance.
Antoine Bisson-McLernon, Partner and CEO, Fiera Comox, commented: "We are delighted to have the opportunity to partner with Ngai Tahu in one of the most attractive and globally competitive softwood producing regions in the world. Our team has had significant success investing and creating partnerships in New Zealand, and we look forward to working with our partners at Ngai Tahu in generating long-term sustainable value for the joint venture, West Coast communities, and the Ngai Tahu people in recognition of their deep connection to the land."
Jeff Zweig, Partner, Vice Chair, Head of Natural Capital, Fiera Comox commented: "I'm very excited to expand our Natural Capital portfolio in a core region for the Timberland Strategy. We believe that our decades of operating experience, and our 'boots-on-the-ground' approach, will supplement the deep expertise of the current management team and help drive improved sustainability outcomes and meaningful additional value for investors."
Todd Moyle, Chief Executive, Ngai Tahu Holdings, has welcomed the partnership:
"We're looking forward to building a successful long-term relationship with Fiera Comox, which has an established track record of working with Indigenous groups in both New Zealand and Canada."
The transaction remains subject to regulatory approvals.
The statements herein are for informational purposes only, are not an advertisement for, or an offer or solicitation to buy or sell, any securities or private funds, and should not be relied upon to make any investment decisions.
About Fiera Comox Partners Inc.
Fiera Comox is a global investment manager that manages private investment strategies in agriculture, timberland, private equity, and private credit. As of March 31st, 2024, Fiera Comox has C$4.0 billion in assets under management. Fiera Comox has completed more than 80 investments across 7 countries in private assets globally. Established in 2016, Fiera Comox is jointly owned by Fiera Capital Corporation and the partners of Fiera Comox. The firm aims to deliver attractive long-term returns to its investors while preserving capital and investing responsibly. www.fieracomox.com.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with a growing global presence. Fiera Capital 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.
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 U.S. 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) (the "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 Fiera Capital's annual information form, is available on SEDAR+ at www.sedarplus.ca.
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SOURCE Fiera Comox Partners
