We are advising Fiera Capital on the transaction, which is expected to close in the first quarter of 2021

Davis Polk is advising Fiera Capital Corporation in connection with its sale of Bel Air Investment Advisors to Hightower Advisors. The transaction is expected to close in the first quarter of 2021.

 Fiera is a leading independent global asset management firm with approximately C$177.7 billion in assets under management as of September 30, 2020. Fiera provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Established in 1997, Bel Air is a prominent wealth management advisory firm, providing financial advisory, asset and investment management services to exclusively high net worth individuals, families, trusts and foundations with $20 million or more in investable assets. Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations.

The Davis Polk corporate team includes partner John D. Amorosi and associates Daisy Wu and Mari Foster. The tax team includes partner William A. Curran and associate Joshua J. Micelotta. Partner Adam Kaminsky and associate Melissa Esposito are providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property advice. Partner Gregory S. Rowland is providing investment management advice. Partner Zachary J. Zweihorn is providing financial institutions advice. Members of the Davis Polk team are based in the New York and Washington DC offices.