Fiera Capital on Friday announced it agreed to acquire Charlemagne Capital in a cash deal valued at £40.7 million ($53 million).
Fiera will pay 14 pence per share for London-based Charlemagne, an emerging and frontier markets equities manager.
The deal, once closed, would expand Montreal-based Fiera's business in Europe, the company said in a news release.
Fiera has C$109 billion ($82.5 billion) in assets under management, primarily with business in Canada and the U.S. Charlemagne has $2.2 billion in AUM.
Charlemagne will adopt the Fiera name within the next 12 months, said Steve Murray, Fiera spokesman.
The deal is the third for Fiera this year. The firm acquired the investment strategies and staff of hedge fund-of-funds and liquid alternatives manager Larch Lane Advisors this summer and growth equity manager Apex Capital Management last spring.
The deal will close following regulatory review; no forecast date for closing was released.