GMP Capital has completed the transaction to sell certain advisory contracts and assets under management to Fiera Capital for $10.8 milllion in cash.
The company will also be entitled to receive 25% of performance fees earned in connection with the advisory contract and assets acquired by Fiera for three years, subject to certain exception and minimum retained assets under management conditions.
The funds being sold are now managed by Fiera Quantum Limited Partnership, a recently established subsidiary of Fiera.
As part of the deal, key members of GMP Investment Management’s team responsible for the management of the funds – including Jason Marks, CEO, chief investment officer and managing partner – have joined the management team of Fiera Quantum.
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