Fiera Private Debt raises $350m for Canadian private credit fund
Fiera Private Debt has raised $350m (£278m) in its first close of the seventh vintage of its flagship Canadian private credit fund.
The Toronto-listed asset manager said that the Fiera Private Debt Fund VII benefitted from strong institutional investor support, as clients recognised the opportunity presented by its differentiated strategy focused on providing senior secured term debt financing directly to high quality, middle-market Canadian businesses.
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Fiera said the objective of the strategy is to originate and proactively manage a diversified portfolio of high-quality private debt investments offering stable cash flow, enhanced yield and low volatility.
“Our team is pleased by the endorsement of both existing and new investors, which continues to validate our unique and longstanding position in the Canadian debt market,” said Theresa Shutt, head of corporate debt.
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“We leverage our long track record of successful investment selection and rigorous underwriting to create customized debt solutions generating attractive returns.
“As such, our investors are attracted by the out-sized cash yield and downside protection that have been central tenets of our strategy for over 30 years. We are thrilled to be able to support Canadian businesses through their next phase of growth and evolution.”
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Fiera Private Debt, a wholly-owned subsidiary of Fiera Capital Corporation, has raised and invested over $3.5bn in mid-market Canadian companies since inception.
It manages a range of private credit strategies including investment grade equivalent private debt, opportunistic credit, bridge financing and infrastructure debt.
