Fiera Capital, Aquila Infrastructure form C$500 mln investment JV

Tue Mar 22, 2016 9:22am EDT
 
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March 22 (Reuters) - Asset manager Fiera Capital Corp and Aquila Infrastructure Management Inc have formed a joint venture with an initial capital of about C$500 million ($382 million) to invest in infrastructure projects.

The alternative investment joint venture, Fiera Infrastructure Inc, will increase Fiera Capital's infrastructure asset portfolio to C$1.2 billion, the company said on Tuesday.

Infrastructure spending in Canada will be the focus of the new Liberal government's first federal budget, to be announced later on Tuesday, as it looks to stimulate hiring and growth after a sharp drop in oil prices battered the economy. ($1 = C$1.31) (Reporting by Arathy S Nair in Bengaluru; Editing by Kirti Pandey)