Fiera Capital acquired growth equity manager Apex Capital Management for $145 million.
Apex will be merged into Montreal-based Fiera Capital's U.S. division, said a news release from Fiera.
Nitin Kumbhani, founder and CEO of Apex, will become vice chairman and chief of growth equity strategies for the Fiera U.S. division.
Apex's $7.1 billion in assets under management will bring Fiera Capital's total AUM to C$111 billion ($80.6 billion). Of that, $26 billion is managed for U.S. clients, said Connor Osetek, Fiera spokesman.
Fiera Capital has built its U.S. business through acquisition. In February 2015, fixed-income manager Samson Capital Advisors was bought for $34 million and merged with equity manager Wilkinson O'Grady & Co., which Fiera bought in 2013.
Fiera Capital also owns U.S. wealth management firm Bel Air Investment Advisors.
The deal for Apex is expected to close in April, pending regulatory approval.
