Canada's Billionaire Desmarais Family Brings on Retail Investors to Sagard - Bloomberg
Sagard Holdings, the alternative asset manager controlled by Canada’s billionaire Desmarais family, is working to boost sales of its private-asset funds to retail investors.
Sagard struck a deal last month to bring on Bank of Montreal and Abu Dhabi sovereign wealth fund ADQ as minority investors in the firm. When complete, the transaction will dilute Power Corp. of Canada’s ownership of Sagard to just over 50%, the company disclosed Friday. But it will mean new avenues of growth, Power Chief Executive Officer Jeffrey Orr said.
“The BMO partnership might help” with retail distribution, Orr told analysts on Friday. “I think a lot of the growth over the next decade is going to come not just from institutions, but it’s going to come from high net worth, ultra-high net worth and retail channels.”
Sagard and its sister company, Power Sustainable, offer a variety of investment strategies, including private equity, private credit, green energy and real estate funds. Sagard also has a venture capital arm that’s focused on financial-technology startups.
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