A. Description of Firm
Fiera Comox Partners Inc. is organized as a corporation under the laws of Canada. Our principal place
of business is in Montreal, Quebec, Canada. We have been providing investment advisory services
since June 30, 2017. We are 60.4% owned by Fiera Capital Corporation, a publicly listed investment
management firm, and 39.6% owned by Comox Equity Partners Inc. Comox Equity Partners Inc. is
controlled by Bradley Park Holdings Inc, a corporation controlled by Antoine Bisson McLernon.
B. Description of Advisory Services
Fiera Comox provides discretionary investment advisory services to private pooled investment
vehicles, the securities of which are offered to investors on a private placement basis (each, a “Fund”
and collectively, the “Funds”) described below, which we manage in accordance with the relevant
limited partnership agreement, investment management agreement, offering memorandum, and/or
other applicable Fund documentation (collectively, “Offering Documents”). Each Fund is structured as
a limited partnership in which investors acquire limited partnership interests or units.
Fiera Comox has entered into a management services agreement with the Funds and their respective
general partners pursuant to which Fiera Comox is providing investment advisory services to (i) the
Fiera Comox Global Agriculture Open-End Fund L.P., a Canadian limited partnership (the “Agriculture
Master Fund”) and its related feeder vehicles (collectively with the Agriculture Master Fund, the
“Agriculture Fund”), (ii) the Fiera Comox Global Private Equity Fund I L.P. a Canadian limited
partnership (the “Private Equity Master Fund”), and its related feeder and co-investment vehicles
(collectively with the Private Equity Master Fund, the “Private Equity Fund”), (iii) the Fiera Comox
Private Credit Opportunities Open-End Fund L.P., a Canadian limited partnership (the “Private Credit
Master Fund”) and its related feeder vehicles (collectively with the Private Credit Master Fund, the
“Private Credit Fund”), and (iv) the Fiera Comox Global Sustainable Timberland Fund L.P., a Canadian
limited partnership (the “Timberland Master Fund”) and its related feeder vehicles (collectively with the
Timberland Master Fund, the “Timberland Fund”). As used herein, the term “client” generally refers to
each Fund.
The Funds, limited partnerships formed under Ontario (Canada) and Delaware law, are not registered
under the Investment Company Act of 1940, as amended (the “Company Act”) in reliance on Section
3(c)(1) or 3(c)(7) thereof. Furthermore, investment interests are not registered under the Securities Act
of 1933, as amended (the “Securities Act”), in reliance on Section 4(2) and Regulation D, promulgated
thereunder. An investment in a Fund is available only by way of private placement to institutional
investors and other sophisticated, high-net-worth investors, who meet the eligibility requirements of the
applicable Fund set forth in its Offering Documents.
C. Description of Investment Strategies
The Firm offers investors in the Funds four private investment
strategies in agriculture, timberland,
private equity and private credit as follows:
Agriculture Fund
The Agriculture Fund is focused on building a global diversified portfolio of agriculture assets and
invests in a portfolio of companies and businesses owning and operating agricultural land and rural
producing assets primarily in the United States, Australia, New Zealand, and Canada (the “Agriculture
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Targeted Geographies"). The Agriculture Fund targets high-quality farmland assets with a history of
production in stable geographies and seeks to develop a portfolio of farm investments diversified
across geographies and commodities.
Timberland Fund
The Timberland Fund is focused on building a well-diversified portfolio of timberland assets primarily in
North America, Western Europe, Scandinavia, Australia, and New Zealand (the “Timberland Targeted
Geographies" and together with the Agriculture Targeted Geographies, the “Targeted Geographies”).
The Timberland Fund is targeting investments in high quality assets
with a history of production in stable and developed countries.
Private Equity Fund
The Private Equity Fund consists of a diversified portfolio of global corporate private equity
investments and seeks to invest in cash flow generative companies, through a combination of
investment channels including direct investments, co-investments, secondaries and primary fund
investments. The Private Equity Fund is currently not offered to U.S. investors.
Private Credit Fund
The Private Credit Fund is focused on senior private credit opportunities and mezzanine instruments.
Please refer to Item 8: Methods of Analysis, Investment Strategies and Risk of Loss below for
additional disclosures related to these Funds.
D. Availability of Customized Services for Individual Clients
Any restrictions on investments are set forth in each respective Fund’s Offering Documents. The Firm
does not tailor its investment advice to individual investors in each Fund that it manages. As such,
investors cannot impose restrictions on the types of investments made through the Funds. Subject to
applicable law and the relevant Fund’s Offering Documents, the general partners of the Funds have
entered into side letter arrangements with certain investors that have the effect of altering or
supplementing the terms of such investors’ investments in the Fund, including, without limitation,
waivers or reductions of fees, access to portfolio information, rights to be excluded from certain
investments, co-investment opportunities, transfers of interest in the Funds, taxation matters and other
similar matters relating to their investment in the Funds.
E. Wrap Fee Programs
Fiera Comox does not participate in any wrap fee programs.
F. Assets Under Management
As of December 31, 2023, we had approximately US$2.8 billion in discretionary assets under
management. Fiera Comox does not manage any assets on a non-discretionary basis.
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