Marc Lecavalier
Senior Portfolio Manager, Small Cap Equities at Fiera Capital Corp.
About
Marc Lecavalier, CFA, is a seasoned portfolio manager currently focused on Canadian small capitalization equities. Until mid-2025, he served as Senior Portfolio Manager at Fiera Capital Corp. in Montreal, overseeing the firm's Canadian Equity Small Capitalization and Canadian Equity Microcap Opportunity strategies, with assets under management totaling approximately C$1.2 billion as of the end of 2024. His investment responsibilities have prominently included managing small-cap and micro-cap equity portfolios, with an emphasis on Canadian markets and a particular expertise in Quebec-based growth stocks.
Lecavalier began his career as an equity analyst at Natcan Investment Management before joining Fiera Capital in 2001, where he advanced through various analyst and portfolio manager roles within the small-cap equities team. He has acted as portfolio manager for products such as the NBI Quebec Growth Fund and the NBI Small Cap Fund, and is regarded for his deep knowledge of Canadian growth sectors, particularly among small- and micro-cap stocks.
Marc Lecavalier holds a Bachelor of Business Administration, majoring in finance, and a Master’s in Management (finance), both from Université de Sherbrooke, and has earned the Chartered Financial Analyst (CFA) designation. Over his more than two-decade career, he has contributed significant expertise to the Canadian asset management industry, particularly through specialized small-cap mandates. In 2025, after 13 years at Fiera, he transitioned to a new role at Montrusco Bolton Investments, continuing his focus on small-cap equity strategies.
Career History
| Organization | Role | Date Range | Details | 
|---|---|---|---|
| Fiera Capital | Senior Portfolio Manager, Small Cap Equities | Jan 2018 to Present | Portfolio Manager - National Bank Small Capitalization Fund Portfolio Manager -  National Bank Quebec Growth Fund Portfolio Manager - Fiera Canadian Small Capitalization Fund Portfolio Manager -  Fier... | 
| Fiera Capital | Portfolio Manager, Small Cap Equities | Apr 2012 to Dec 2017 | Portfolio Manager of National Bank Quebec Growth Fund; Portfolio Manager of Quebec Micro-Cap Fund; Portfolio Manager Natcan QSSP Fund; Small-Cap Energy Sector Analyst | 
| Natcan | Vice President, Small Cap Equities | Apr 2001 to Apr 2012 | Portfolio Manager of Altamira Quebec Growth Fund; Portfolio Manager of Quebec Micro-Cap Fund; Portfolio Manager Natcan QSSP Fund; Small-Cap Energy Sector Analyst | 
Education
Université de Sherbrooke
M.Sc., Finance
2000 — 2001
Université de Sherbrooke
BAA, Finance
1997 — 2000
Others at Fiera Capital Corp. (26)
| Name | Role | Location | 
|---|---|---|
| Senior Analyst, Municipal Credit Research | Boston, MA , United States | |
| SVP and Portfolio Manager | Miamisburg, OH , United States | |
| Senior Analyst | Montreal, QC , Canada | |
| AAlexander Sharp | Billing Analyst | Montreal, QC , Canada | 
| BBenoit Paquette | Lead Analyst, Performance and Reporting | Montréal, QC , Canada | 
| Vice President and Portfolio Manager, Global Asset Allocation | Montreal, QC , Canada | |
| Vice président et gestionnaire de portefeuille principal, Revenu Fixe | Montreal, QC , Canada | |
| Senior Analyst | New York, NY , United States | |
| Finance and Accounting Analyst | Toronto, ON , Canada | |
| EEric Lopez | Senior Analyst, Systems Maintenance | Montreal, QC , Canada |