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NEW YORK (Reuters) - Canadian asset manager Fiera Capital (FSZ.TO) announced it has bought London-based Charlemagne Capital CHAR.L for 40.7 million pounds ($52.8 million) and said it is in talks with several other targets.
The Montreal-based firm wants to have C$200 billion assets under management by 2020, up from C$109 billion at the end of June, and is aggressively pursuing acquisitions to achieve that.
"We are seeing a number of potential opportunities in the market at this time that could add to our capabilities. We are talking to six or seven different parties," Chief Operating Officer Sylvain Brosseau said in an interview on Friday.
Fiera said that the Charlemagne acquisition would provide it with an entry into the emerging markets asset class and give it a European platform to enhance its growth.
Charlemagne Capital was established in 2000 and has assets under management of over $2 billion.
Reporting by Matt Scuffham; Editing by Cynthia Osterman