Fiera Capital Corp. is acquiring Integrated Asset Management Corp. for $74 million, said a news release.
As part of the deal, IAM's private debt investment team will be incorporated into Fiera Private Lending and the industrial real estate team will be joining Fiera Properties.
Boards for both companies unanimously approved the deal, which is expected to close in the second quarter.
John Valentini, president and CEO of private alternative investments at Fiera Capital, said in the release that this acquisition "strengthens and diversifies Fiera Capital's private alternatives lending platform, bringing significant capabilities in private debt in addition to expanding our real estate platform.
John Robertson, president and CEO of IAM added: "Joining forces with Fiera Capital creates an opportunity for IAM shareholders to realize immediate value and liquidity as well as the opportunity to participate in a larger combined company well-positioned for future growth. We believe this is also a great opportunity for IAM employees to join the team at Fiera Capital."
Fiera Capital had C$136.7 billion ($100.2 billion) in assets under management as of Dec. 31. IAM had C$3.1 billion as of Feb. 28.
Fiera spokeswoman Mariem Elsayed could not be immediately reached for additional comment.