TORONTO and MONTREAL, March 5, 2015 /CNW Telbec/ - Fiera Capital Corporation ("Fiera Capital") is pleased to announce that Investment Grade Infrastructure Bond Fund (the "Fund") has issued an additional 210,000 units of the Fund (the "Units") pursuant to an exercise of the over-allotment option by the syndicate of agents. In total, the Fund has issued 6,710,000 Units pursuant to its initial public offering (the "Offering"), yielding gross proceeds of $67,100,000. The Units are listed on the Toronto Stock Exchange under the symbol IFB.UN.
The Fund's investment objectives are to provide holders of Units with monthly cash distributions, preservation of capital and provide the opportunity for capital appreciation. The Fund has been created to invest in an actively managed portfolio consisting primarily of investment grade fixed income securities of issuers that own, operate or develop infrastructure assets in the United States. The Fund's distributions are initially targeted to yield 5.0% per annum on the subscription price of $10 ($0.04166 per Unit per month or $0.50 per Unit per annum).
Fiera Capital is the manager and promoter of the Fund. Fiera Capital has retained Nuveen Asset Management, LLC ("Nuveen") to provide portfolio management services to the Fund. Nuveen has approximately U.S. $130 billion in assets under management as of September 30, 2014, including approximately U.S. $95 billion in infrastructure debt securities.
The syndicate of agents for the Offering was led by CIBC and RBC Capital Markets, and included National Bank Financial Inc., Scotiabank, TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Desjardins Securities Inc., Raymond James Ltd., Canaccord Genuity Corp, Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated (collectively, the "Agents").
About Fiera Capital
Fiera Capital is a leading publicly traded, independent investment firm. Fiera Capital is one of only a handful of full service, multi-product investment firms in Canada, offering clients a proven top tier track record in equity and fixed income management as well as depth and expertise in asset allocation and alternative investments. For more information, visit www.fieracapital.com
SOURCE Fiera Capital Corporation
For further information: For inquiries regarding the fund distributions, please contact Krista Matheson, Senior Vice President, Retail Markets, Fiera Capital at 416-955-4929 or visit www.fieracapital.com