Financial exec Andrew Ziegler picks up north Palm Beach estate for $22M

Seller is Jean-Guy Desjardins, chairman and CEO of Montreal-based Fiera Capital

11870 Turtle Beach Road and Andrew Ziegler
11870 Turtle Beach Road and Andrew Ziegler

The former CEO of a large money-management firm just dropped $22 million on a beachfront home in northern Palm Beach County.

Property records show Andrew Ziegler, founder and former CEO of Artisan Partners, and Carlene M. Ziegler bought the 10,339-square-foot mansion at 11870 Turtle Beach Road from Desmo Realties Inc., a Montreal-based company. The seller is linked to Jean-Guy Desjardins, chairman and CEO of Montreal-based Fiera Capital, a firm that reportedly oversees $100 billion in assets.

Desjardins sold the two-story home for nearly $2,130 per square foot. It was built in 1988 and sits on an acre of land with a pool, inner courtyard and manicured lawns. Records show the property last sold for $11.3 million in 2003.

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Ziegler is no stranger to South Florida. The financial exec sold his sprawling horse farm in Wellington last year for $17.45 million.

James Kenny and Paul Kaneb of K2 Realty were the listing agents for the north Palm Beach home. They could not immediately be reached for comment.

Recent sales in the area include the $28 million sale in September of a new mansion at 11572 Turtle Beach Road to the billionaire owner of one of the biggest beer distribution companies in the country, M. Jude Reyes.