Q4 2024 Fiera Capital Corp Earnings Call Transcript
Key Points
- Fiera Capital Corp (FRRPF) reported an increase in assets under management (AUM) to $167.1 billion, representing a growth of 3.3% for the year.
- The private markets platform experienced significant growth, with AUM increasing by nearly 7% during the year, driven by new mandates and positive market action.
- The company achieved positive net organic growth in its private market platform, with new mandates totaling over 1.7 billion for the year.
- Fiera Capital Corp (FRRPF) saw a strong performance in its private equity and global agriculture strategies, with returns of 11% and 9% respectively for the year.
- The company maintained a robust pipeline of approximately 900 million available for future deployment into private market opportunities.
- Total revenues for the fourth quarter declined by 13% year over year, primarily due to lower performance fees.
- The public markets platform experienced net outflows of approximately 800 million for the quarter, largely due to client rebalancing and moving to other managers.
- Performance fees for the year were significantly lower, with a decrease of $26 million compared to the prior year.
- Adjusted EBITDA for the fourth quarter decreased by 31% year over year, reflecting the impact of lower performance fees.
- The company's net debt ratio increased to 3.3 times, up from 2.9 times in the prior year, indicating higher financial leverage.
Good morning. My name is Emily and I will be your conference operator today. At this time, I would like to welcome everyone to Fiera Capital's earning call to discuss financial results of the fourth quarter of 2024. All lines have been placed on you to prevent any background noise. After the speaker's prepared remarks, there will be a question and answer period. As a reminder, this conference call is being recorded. If you would like to ask a question during this time [Operator Instructions].
Thank you. I will now turn the conference over to Ms. Marie-France Guay, Senior Vice President Treasury and Investor Relations. Ms. Guay, you may begin your conference.
Thank you Emily. Good morning, everyone. Welcome to the Fiera Capital conference call to discuss our financial results for the fourth quarter of 2024. Note that today's call will be held in English. Before we begin, I invite you to download a copy of today's presentation. Which can be
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