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Fiera Capital Corporation and Aquila Infrastructure Management have announced that their alternative investment company, Fiera Infrastructure, has entered into a definitive purchase and sale agreement with Forum Equity Partners with respect to five assets of Forum's PPP portfolio.

The transaction consists of the purchase of the following PPP assets:

• 100% equity stake in the Billy Bishop Toronto City Airport Pedestrian Tunnel (BBPT). BBPT, completed in July 2015, involved the construction, operations and maintenance of a pedestrian tunnel connecting Billy Bishop Toronto City Airport to Toronto’s mainland. The tunnel provides passengers with convenient, predictable, and reliable access to the airport.
• 100% the Surrey Pretrial Services Centre Expansion (SPSCE) in British Columbia. SPSCE was the Winner of the Canadian Council for Public Private Partnerships Gold Award in 2011, and consisted of the construction, operations and maintenance of a high security, state-of-the-art, 216 cell expansion to the existing Pre-Trial Services Centre in Surrey, British Columbia. The facility opened in October 2013.
• 100% a social housing project in Western Canada. It involves the design, renovation, financing, and maintenance of 13 single room occupancy buildings. With several sites already in operations, the project is on track to be completed by the third quarter of 2016.
• 100% the South West Detention Centre (SWDC) in Ontario. It involved construction of a state-of-the-art detention centre to replace an older facility. With the capacity to house 315 inmates, the centre opened in July 2014.
• 50% equity stake in the Quinte Consolidated Courthouse in Belleville, Ontario (QCC). QCC, opened in August 2013, involved a new courthouse built to consolidate the activities of four justice facilities in Belleville, Ontario and Trenton, Ontario.

The transaction between Fiera Capital and Aquila is expected to close in the second quarter of 2016.  It will bring Fiera Capital's total infrastructure asset portfolio to CAD$1.2 billion which includes Fiera Infrastructure's CAD$500 million of invested and available capital and CAD$700 million of infrastructure debt (as at December 31, 2015).

Fiera Infrastructure reached financial close on QCC, BBPT and SPSCE on April 19, 2016. The company is currently undergoing the consent process for SWDC and expects to reach financial close on the asset in Q3 2016. Closing on the social housing project in Western Canada is anticipated for August 31, 2016, upon satisfaction of certain conditions precedent and receipt of all required consents.

Macquarie Capital Markets Canada acted as exclusive financial advisor to Forum on the transaction.

Fiera Capital Chairman and CEO Jean-Guy Desjardins stated:

"As a leader in the alternative investment industry, Fiera Capital is always looking to offer its clients the best investment opportunities and the firm sees the infrastructure asset class as a segment of this market which offers superior growth potential. With this transaction, Fiera Infrastructure gains high quality assets while strengthening Fiera Capital's alternative investment offering by adding important diversification to our clients' portfolios."

Alina Osorio, President of Fiera Infrastructure, commented:

"After reviewing each project for its potential profitability and ability to add value to our portfolio, we are very happy to announce our first major acquisition for Fiera Infrastructure. Our intent was to quickly secure high-quality core assets which provide investors with access to income-generating infrastructure assets. With the addition of these new assets, we are putting Fiera Infrastructure at the forefront of the alternative investment market."