Fiera raises C$350m for flagship Canadian private credit fund
Fiera Private Debt has raised C$350m (£196.2m) at the first close of the seventh vintage of its flagship Canadian private credit fund.
Fiera Private Debt Fund VII focuses on providing senior secured term debt financing to middle-market Canadian businesses.
The Toronto-based asset manager said that the fund benefited from “strong institutional investor support” and that the money was raised through a closed-end fund and a separately managed account.
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“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.
“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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John Valentini, executive director, president and chief executive of Fiera Private Markets added: “Fiera Private Debt has a leadership position in the Canadian market providing private credit strategies targeting the mid-market segment that provides attractive returns for investors. Not only are we able to achieve attractive risk-adjusted returns for our investors, but we also provide an important source of capital in support of our borrowers. Our innovative approach to borrower engagement has solidified our position as the non-bank lender of choice for Canadian middle-market businesses seeking a sophisticated financing partner.”
Fiera Private Debt is a subsidiary of Canadian private debt manager Fiera Capital Corporation.
It has raised and invested over C$3.5bn in mid-market Canadian companies across a range of private credit strategies including investment-grade private debt, opportunistic credit, bridge financing and infrastructure debt.
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