Fiera Real Estate merges UK operations

Fiera Real Estate merges UK operations
Written by:
Damian Wood
January 27, 2020
  • Fiera Real Estate is merging with its UK subsidiary Palmer Capital Partners as it seeks to align its UK operations.
  • The reorganisation comes months after acquiring an 80% stake in the UK-based specialised investment firm.
  • Fiera UK says it will remain a minority shareholder as its Canada-headquartered parent assumes a majority shareholding across the ten offices in the region.

Fiera Real Estate, a leading property creator and manager, wholly owned by Fiera Capital Group, is merging with its UK subsidiary Palmer Capital Partners, as it seeks to align its UK operations. The group has rebranded its UK acquisition after assuming an 80% stake in the investment firm late last year.

Fiera Capital is a multi-product investment firm boasting more than $124 billion worth of assets under management. The group owns Fiera Real Estate UK and provides it with global investment intelligence in the property space, affording it the ability to innovate while taking risk assessment into account.

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UK’s Fiera branch is the region’s leader in furthering the group’s real estate ambitions. According to the company’s website, the UK arm is directly overseeing more than $1 billion in Assets Under Management, and as of Dec 2019, an additional $411 billion was under property companies with third-party investors.

Fiera Capital is reportedly the third-largest property firm in Canada and at its core “is a culture of entrepreneurship, innovation, and ownership at every level, with each business unit overseen by a highly incentivised management team”.

Since its establishment, the UK buy-in was the first real estate acquisition outside Canada, having confined most of its operations to North America for decades.

Fiera Real Estate UK will be stationed at heart London, in Fiera Capital Offices. The London office will be focused on asset management in the UK and its environs.

Fiera UK says it will remain a minority shareholder as its Canada-headquartered parent assumes a majority shareholding across the ten offices in the region.

In November last year, Fiera UK put up the Fiera Real Estate Opportunity Fund V (UK), marking its first fund after the acquisition deal. The funding, which was its fifth in the planned venture series with CBRE Global Investment Partners, is settings its eyes on opportunistic and value-adding real estate deals in the UK.

At the time of publishing this article, Fiera Real Estate UK has renamed its primary income fund from Palmer Capital Income Fund to Fiera Real Estate Long Lease Fund (UK).

The move is seen as a way to rope its other units in to take advantage of the Fiera Real Estate brand which has rubberstamped its names in the industry as an asset management leader since the early 90s.