Toronto Stock Exchange-listed asset management firm Fiera Capital Corporation has agreed to acquire Asia-focused credit and special situations investment firm Clearwater Capital Partners, an EMPEA member, for a total consideration of up to US$65 million. Fiera will pay a combined US$21 million in cash and subordinate voting shares upon closing of the transaction, with an additional US$44 million in earn-out considerations to be paid over five years upon the achievement of financial milestones. Fiera will add Clearwater’s assets to its Private Alternative Investments division. Robert Petty and Amit Gupta will continue to lead Clearwater as Co-CEOs and Co-CIOs. The transaction is subject to regulatory approval.