Natixis Investment Managers to sell its block of shares in Fiera Capital
MONTREAL & PARIS – (COMMERCIAL THREAD) – Natixis Investment Managers (“Natixis IM”) today announced that Natixis Investment Managers Canada Holdings Ltd (“Natixis Canada Holdings”), a wholly-owned subsidiary of Natixis IM and BPCE SA (“BPCE”), has concluded two separate agreements to sell all of the 10.68 million Class A Subordinate Voting Shares (the “Class A Shares”) that it currently holds in Fiera Capital Corporation (“Fiera Capital”).
Natixis Canada Holdings and Natixis Investment Managers Participations 1 entered into a private agreement with Fiera Capital to repurchase for cancellation 3.56 million Class A Shares for an aggregate repurchase price of $ 34,888,000 (the “Repurchase Transaction”). In addition, Natixis IM will pay Fiera Capital a transaction commission.
Natixis Canada Holdings has also entered into an agreement with RBC Capital Markets under which Natixis Canada Holdings will sell, and RBC Capital Markets will acquire through a prospectus-exempt block take-over transaction 7.12 million Class A Shares for aggregate proceeds of $ 69,776,000 (the “Block To exchange Transaction ”, and together with the Redemption Transaction, the“ Transactions ”). In addition, Natixis IM will pay RBC Capital Markets a commission.
Immediately before the closing of the Transactions, Natixis Canada Holdings holds 10.68 million Class A shares, representing as at January 11, 2022 approximately 12.5% of the outstanding Class A shares and approximately 10.2% of all outstanding shares of Fiera Capital. Upon completion of the Transactions, Natixis Canada Holdings will no longer hold any Fiera Capital shares.
Natixis Canada Holdings has chosen to monetize its holdings in Fiera Capital in order to allow additional flexibility to allocate capital in accordance with its long-term strategic priorities. Although Natixis Canada Holdings no longer owns Fiera Capital shares upon completion of the Transactions, the distribution agreement concluded in May 2019 between Natixis IM and Fiera Capital establishing Fiera Capital as preferred Canadian distributor of Natixis IM for its strategies investment will remain in force, subject to certain amendments. The Investor Rights Agreement between Natixis Canada Holdings and Fiera Capital, the Call Option Agreement between Natixis Canada Holdings and Fiera Capital LP and the Voting / Put Option Agreement between Natixis Canada Holdings and Jean-Guy Desjardins will be terminated .
As of the close of operations and following the termination of the investor rights agreement, Natixis Canada Holdings will no longer have the contractual right to propose candidates to the board of directors of Fiera Capital.
An early warning report relating to these transactions will be filed on SEDAR under Fiera Capital’s profile at www.sedar.com. To obtain a copy of this report, please contact Mr. Eric Ward, Global General Counsel of Natixis Investment Managers, at +1 617-449-2133. BPCE is a French anonimous society whose head office is located at 50 avenue Pierre Mendès-France, 75013 Paris, France. Natixis Canada Holdings, a company incorporated in Quebec, an indirect wholly owned subsidiary of BPCE, is headquartered in the offices of Norton Rose Fulbright Canada LLP at 1, Place Ville Marie, Suite 2500, Montreal, Quebec H3B 1R1. Fiera Capital’s head office is located at 1501 McGill College Avenue, Suite 800, Montreal, Quebec, H3A 3M8.
This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond Natixis IM’s control. Unless required by law, Natixis IM does not undertake to update any forward-looking statements, whether written or oral, which may be made from time to time by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information it contains and may not be appropriate for other purposes.
About Natixis Investment Managers
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and targeted expertise of more than 20 active managers. Ranked among the world’s largest asset managers1 with nearly $ 1.4 trillion in assets under management2 (€ 1,199.4 billion), Natixis Investment Managers offers a diversified range of solutions covering asset classes, styles and vehicles, in particular innovative strategies and products in terms of the environment, society and governance (ESG) dedicated to the promotion of sustainable finance. The firm works with clients to understand their unique needs and provide investment information and solutions tailored to their long-term goals.
Based in Paris and Boston, Natixis Investment Managers is 100% owned by Natixis. Natixis is a subsidiary of BPCE, the second largest French banking group. Investment management companies affiliated with Natixis Investment Managers include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;3 Dorval asset management; Flexstone Partners; Gateway investment advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles and company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum asset management; Seeyond; Seventure Partners; Thematic asset management; Vauban Infrastructure Partners; Vaughan Nelson’s investment management; and WCM Investment Management. In addition, investment solutions are offered by Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offers are available in all jurisdictions. For more information, please visit the Natixis Investment Managers website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited-purpose brokerage and distributor of various investment companies registered in the United States for which advisory services are provided by affiliates of Natixis. Investment Managers, Natixis Investment Managers SA (Luxembourg), Natixis Investment Managers International (France) and their affiliated distribution and service entities in Europe and Asia.
1 Cerulli Quantitative Update: Global Markets 2021 ranked Natixis Investment Managers 15th in the world for asset managers based on assets under management as of December 31, 2020.
2 Assets under management (“AUM”) as of September 30, 2021 amounted to $ 1,390 billion. Assets under management, as reported, may include notional assets, assets under management, gross assets, assets of affiliated entities owned by minorities and other types of non-regulatory assets under management managed or managed by companies affiliated with Natixis Investment Managers. Excluding H2O Asset Management.
3 A brand of DNCA Finance.