Natixis Investment Managers to Sell its Block of Fiera Capital Shares

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MONTREAL & PARIS--(BUSINESS WIRE)--Natixis Investment Managers (“Natixis IM”) today announced that Natixis Investment Managers Canada Holdings Ltd (“Natixis Canada Holdings”), a wholly-owned subsidiary of Natixis IM and BPCE SA (“BPCE”), has entered into two separate agreements to sell all of the 10.68 million class A subordinate voting shares (“Class A Shares”) that it currently holds in Fiera Capital Corporation (“Fiera Capital”).

Natixis Canada Holdings and Natixis Investment Managers Participations 1 have entered into a private agreement with Fiera Capital for the repurchase for cancellation of 3.56 million Class A Shares for an aggregate repurchase price of $34,888,000 (the “Buy Back Transaction”). In addition, Natixis IM will pay Fiera Capital a transaction fee.

Natixis Canada Holdings has also entered into an agreement with RBC Capital Markets pursuant to which Natixis Canada Holdings will sell, and RBC Capital Markets will acquire via a prospectus-exempt block trade bought deal, 7.12 million Class A Shares for aggregate proceeds of $69,776,000 (the “Block Trade Transaction”, and together with the Buy Back Transaction, the “Transactions”). In addition, Natixis IM will pay RBC Capital Markets a commission.

Immediately before the closing of the Transactions, Natixis Canada Holdings owns 10.68 million Class A Shares, representing as of January 11, 2022 approximately 12.5% of the outstanding Class A Shares and approximately 10.2% of all outstanding shares of Fiera Capital. Upon completion of the Transactions, Natixis Canada Holdings will no longer hold any shares of Fiera Capital.

Natixis Canada Holdings has elected to monetize its holdings in Fiera Capital to allow for additional flexibility to allocate capital in line with its long-term strategic priorities. While Natixis Canada Holdings will no longer hold any Fiera Capital shares upon completion of the Transactions, the distribution agreement entered in May 2019 between Natixis IM and Fiera Capital establishing Fiera Capital as Natixis IM’s preferred Canadian distributor for its investment strategies will remain in force, subject to certain amendments. The Investor Rights Agreement between Natixis Canada Holdings and Fiera Capital, the Call Option Agreement between Natixis Canada Holdings and Fiera Capital L.P. and the Voting Arrangements / Put Option Agreement between Natixis Canada Holdings and Jean-Guy Desjardins will be terminated.

Effective upon closing of the Transactions and as a result of the termination of the Investor Rights Agreement, Natixis Canada Holdings will no longer have any contractual right to propose any nominees to the Fiera Capital board of directors.

An early warning report relating to these transactions will be filed on SEDAR under Fiera Capital’s profile at www.sedar.com. To obtain a copy of such report, please contact Mr. Eric Ward, Global General Counsel of Natixis Investment Managers, at [phone]. BPCE is a French société anonyme with its head office located at 50 avenue Pierre Mendès-France, 75013 Paris, France. Natixis Canada Holdings, a Quebec incorporated corporation, an indirect subsidiary wholly-owned by BPCE, has its head office located at the offices of Norton Rose Fulbright Canada LLP at 1 Place Ville Marie, Suite 2500, Montreal, Quebec H3B 1R1. The head office of Fiera Capital is located at 1501 McGill College Avenue, Suite 800, Montreal, Quebec, H3A 3M8.

Forward-Looking Statements

This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of Natixis IM. Except as required by law, Natixis IM does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About Natixis Investment Managers

Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 20 active managers. Ranked among the world’s largest asset managers¹ with nearly $1.4 trillion assets under management² (€1,199.4 billion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.

Headquartered in Paris and Boston, Natixis Investment Managers is wholly owned by Natixis. Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;³ Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.

Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various U.S. registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.

¹ Cerulli Quantitative Update: Global Markets 2021 ranked Natixis Investment Managers as the 15th largest asset manager in the world based on assets under management as of December 31, 2020.
² Assets under management (“AUM”) as of September 30, 2021 are $1,390 billion. AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers. Excluding H2O Asset Management.
³ A brand of DNCA Finance.