A Message from Our Chair of the Board and Global Chief Executive Officer
Fiera Capital entered 2024 with clarity on its priorities and continued to make steady progress in positioning the firm for long-term growth. This past year was one of measured execution, disciplined investment and structural reinforcement. Across our platform, our teams worked to adapt with focus, deliver consistent investment results and deepen client relationships in a shifting market environment.
Our global assets under management (AUM) grew to $167.1 billion by the end of 2024, representing an increase of $5.4 billion compared to the previous year. This growth reflects not only the performance of our investment strategies but also the benefits of ongoing business stability and our diversified investment platform. We maintained solid financial footing while investing in systems, people and client-facing infrastructure.
Fiera Capital entered 2024 with clarity on its priorities and continued to make steady progress in positioning the firm for long-term growth. This past year was one of measured execution, disciplined investment and structural reinforcement.
The Public Markets division remains our largest and most significant engine. It continues to demonstrate scale, depth and resilience across multiple geographies and asset classes. In 2024, we saw meaningful net new mandates in Canadian, U.S. and global equities, as well as continued strength in our flagship fixed income offerings. These results reflect the disciplined, research-driven approach of our investment teams and the consistent execution of our investment process. Our platform remains competitive in both relative and absolute performance terms, and we continue to see growing demand for our strategies.
Private Markets also contributed to our progress in 2024. AUM in this division reached $19.7 billion, a 6.5 percent increase over the prior year. Though it represents a smaller share of total AUM, Private Markets generated roughly 35 percent of total revenue in 2024. Growth was driven by new allocations across private credit, agriculture, real estate and infrastructure strategies. Capital deployment remained disciplined, and we maintained a robust investment pipeline heading into 2025.
Our Private Wealth division gained momentum in 2024, with assets under management reaching $14.6 billion. By leveraging the full depth of our platform, we continue to strengthen relationships with clients and position Fiera as a trusted partner in wealth management.
We continued to expand our regional distribution model, with new leadership roles and local market engagement in key areas, including Europe, Asia and the Middle East. This structure brings us closer to our clients and allows for more effective coverage, service and insight at the regional level. It also creates accountability and ownership at the point of client interaction, a shift that is already yielding better traction in client relationships.
In June 2024, senior management and certain directors acquired the equity position previously held by Desjardins. This transaction reflects alignment between our leadership and our long-term strategy. It also ensures that decision-making remains concentrated among those who are closest to the business, invested in its success and accountable for its outcomes.
Throughout 2024, our teams demonstrated commitment, professionalism and resilience. Investment professionals across asset classes delivered performance within a wide range of market conditions. Operational teams continued to support the firm’s global scale with care and precision. Our client-facing professionals drove meaningful conversations and new mandates, even in a competitive and cautious environment.
To our clients, we thank you for your trust and continued partnership. To our shareholders, we appreciate your support and long-term confidence in our model. To the Fiera Capital team, your oversight, strategic input and engagement remain vital to our continued progress.
Fiera Capital entered 2025 with a focused agenda. We are continuing to pursue organic growth, cost discipline and operational improvement. Our investment philosophy remains consistent, grounded in evidence-based decision-making, rigorous research, and the belief that performance must be earned over time, not promised in advance.
Thank you for your confidence.
