Fiera Founder Solidifies Control With Buyout of Investor’s Stake

Fiera Capital Corp.’sfounder and his top managers solidified their control over the Canadian asset manager, striking a deal to buy out a top investor that was looking to exit its holding.

Fiera founder and Chief Executive Officer Jean-Guy Desjardins — along with top executives and some board members — formed an entity to buy a C$53 million ($39 million) stake controlled by Desjardins Group, according to a statement Friday. The deal represents about 7% of Montreal-based Fiera’s total outstanding shares.

The deal gives the CEO and his managers control over Fiera because their limited partnership, which will hold about ...