/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Feb. 1, 2024
/CNW/ - The Fiera Real Estate Industrial Fund ("FRE
Industrial Fund"), an open-ended industrial fund managed by
Fiera Real Estate, the global real estate investment platform of
Fiera Capital Corporation ("Fiera Capital"), reached over
C$1 billion in assets under
management as of December 31, 2023.
Notwithstanding a challenging year in a difficult macroeconomic
environment, the FRE Industrial Fund completed over $100 million in transactions comprising of nine
industrial assets across the Greater
Toronto Area, Ottawa,
London, and Halifax adding 560,000 square feet.
The Fund achieved a gross total return of 8.5% for 2023, ranking
the fund #1 in the MSCI/REALPAC Canada Quarterly Property Fund
Index, and has achieved 18.2% and 16.7% over the last three and
five years, respectively. The Canadian performance index covers
nine unlisted open–ended real estate funds which had a benchmark
gross total return for 2023 of negative 2.0%.
"The FRE Industrial Fund continues to grow and provide stable
quarterly income by being in the highly coveted small-bay
industrial segment," said Michael
O'Sullivan, Senior Vice President and Fund Manager. "In
addition, the undersupply of buildings and high tenant demand
positions the Fund for strong growth in 2024."
"Our conviction and management capabilities in the industrial
real estate sector has supported our performance in all our
multifaceted products across the risk spectrum and various
geographies," added Wenzel Hoberg,
Global Head of Real Estate.
John Valentini, Executive
Director, President and Chief Executive Officer of Fiera Private
Markets commented: "The FRE Industrial Fund is consistent with
Fiera Capital's Private Markets strategy of providing competitive
mid-market open-ended investment strategies delivering highly
competitive returns. We are pleased by the client engagement and
alignment that led to this positive result."
For more information on the FRE Industrial Fund and other Fiera
Real Estate strategies, please visit
ca.fierarealestate.com/strategies/investment-themes.
About the Fiera Real Estate
Industrial Fund
Launched in 2014, the FRE Industrial Fund has consistently
provided outperforming risk-adjusted returns compared to the
MSCI/REALPAC Canada Quarterly Property Fund Index on an annualized
basis, boasting double-digit performance since inception, and
provides its investors in this open-ended strategy with scale
through the portfolio's 108 assets across Canada.
About Fiera Real Estate
Fiera Real Estate is a leading investment management company
with offices in North America,
Europe, and Asia, and a team of over 100 employees. The
firm globally manages over C$10.3
billion of commercial real estate through a range of funds
and accounts as at December 31, 2023.
The highly diverse nature of its portfolio – in terms of both
geographies and types of properties – combined with a range of
high-quality strategies provides investors with opportunities to
diversify their exposure and customize their investment experience
within the real estate asset class. Fiera Real Estate is wholly
owned by Fiera Capital Corporation, a leading independent global
asset management firm with more than C$155.3
billion in assets under management as at September 30, 2023. ca.fierarealestate.com
About Fiera Capital
Corporation
Fiera Capital Corporation ("Fiera Capital") is a leading
independent asset management firm with a growing global presence.
The Company delivers customized and multi-asset solutions across
public and private market asset classes to institutional, financial
intermediary and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital's depth of expertise,
diversified investment platform and commitment to delivering
outstanding service are core to our mission of being at the
forefront of investment management science to create sustainable
wealth for clients. Fiera Capital trades under the ticker FSZ on
the Toronto Stock Exchange. www.fieracapital.com
Headquartered in Montreal,
Fiera Capital, with its affiliates in various jurisdictions, has
offices in over a dozen cities around the world, including
New York (U.S.), London (UK), and Hong Kong (SAR).
Each affiliated entity (each an "Affiliate") of Fiera
Capital only provides investment advisory or investment management
services or offers investment funds in the jurisdictions where the
Affiliate is authorized to provide services pursuant to an
exemption from registration and/or the relevant product is
registered.
In the U.S., asset management services are provided by Fiera
Capital's affiliates who are investment advisers that are
registered with the U.S. Securities and Exchange Commission (SEC)
or exempt from registration. Registration with the SEC does not
imply a certain level of skill or training. For details on the
particular registration of, or exemptions therefrom relied upon by,
any Fiera Capital entity, please consult
https://www.fieracapital.com/en/registrations-and-exemptions.
Additional information about Fiera Capital, including the
Company's annual information form, is available on SEDAR+ at
www.sedarplus.ca.
Disclosure
The information presented is for informational purposes only and
is not intended to be, and should not be construed as, an offer to
sell, or the solicitation of an offer to buy, any investment
product. The information presented in this document, in whole or in
part, is not investment, tax, legal or other advice, nor does it
consider the investment objectives or financial circumstances of
any investor.
This document may contain "forward-looking statements" which
reflect the current expectations of Fiera Capital and/or its
Affiliates. These statements reflect current beliefs, expectations,
and assumptions with respect to future events and are based on
information currently available. Although based upon what Fiera
Capital and its affiliates believe to be reasonable assumptions,
there is no guarantee that actual results, performance, or
achievements will be consistent with these forward-looking
statements. There is no obligation for Fiera Capital and/or its
Affiliates to update or alter any forward-looking statements,
whether as a result of new information, future events or
otherwise.
SOURCE Fiera Capital Corporation