Largest Quebec Hedge Fund Battles Passives by Seeding Startups
- Montreal-based investor aims to back six promising hedge funds
- Also to expand in peer-to-peer lending, farming private equity
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Fiera Capital Corp., Quebec’s largest hedge-fund operator, is investing in promising asset managers to fight rival passive strategies that poached its inflows.
The Montreal-based firm is in discussions to put about C$300 million ($222 million) in six relatively new hedge funds around the world by October, Chief Investment Officer Francois Bourdon said in an interview. Fiera will take part of their revenues, instead of owning stakes, but percentages weren’t disclosed. There are also plans to expand marketplace lending and farming investments, he said.