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Fiera Capital's CEO Maxime Ménard outlines the firm's strategic evolution following his succession of founder Jean-Guy Desjardins in July 2025. Despite navigating high capital costs, market dispersion, and economic uncertainty, the firm grew assets under management to approximately C$167 billion as of September 30, 2025. The company executed a focused transformation strategy, streamlining offerings to concentrate capital and talent where competitive advantages are strongest, particularly enhancing capabilities in infrastructure and private credit. These segments offer deep expertise and privileged access to opportunities. Financial results showed consolidated revenue growth year-over-year with strengthened operating margins driven by rigorous cost management and more targeted resource allocation. The firm's vision centers on being the partner of choice for performance-seeking clients while serving as the home for people who deliver results. Management approaches 2026 with confidence, targeting sustained growth and global footprint expansion through disciplined execution and prudent investment practices.
Fiera Capital is executing a strategic transformation to become more agile and client-focused, concentrating resources in areas of competitive advantage like infrastructure and private credit while maintaining disciplined capital allocation.
Management approaches 2026 with confidence and focus, aiming to turn current momentum into sustained growth and expand global footprint while continuing to deliver tangible value to clients.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Dec 31 2025 | 2025 Q4 | - | Asset Management, Capital Allocation, global, infrastructure, private credit | - | Fiera Capital enhanced capabilities in infrastructure as a segment where they have deep expertise and privileged access to opportunities. This represents a strategic focus area for capital allocation. The firm strengthened capabilities in private credit, identifying it as an area of competitive advantage with deep expertise and privileged access to opportunities. |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2025 Q4 |
InfrastructureDigital 9 Infrastructure holds telecom infrastructure assets including Arqiva stake. Despite poor 2025 performance, potential capital returns and asset sales could unlock value. Infrastructure assets provide defensive characteristics. |
Telecom Infrastructure Digital Infrastructure |
Private CreditThe space has become very popular with lots of LP money chasing returns. Some sponsors have paid extremely high prices and lent on unfavorable terms. Many have also lent into the AI/data-center space to businesses with questionable futures. |
Credit Lending Risk |
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